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Exhibit 12(b)
FLORIDA POWER & LIGHT COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS(a)
Six Months Ended June 30, 2016 | |||
(millions of dollars) | |||
Earnings, as defined: | |||
Net income | $ | 840.8 | |
Income taxes | 513.4 | ||
Fixed charges, as below | 246.8 | ||
Total earnings, as defined | $ | 1,601.0 | |
Fixed charges, as defined: | |||
Interest expense | $ | 228.6 | |
Rental interest factor | 6.5 | ||
Allowance for borrowed funds used during construction | 11.7 | ||
Total fixed charges, as defined | $ | 246.8 | |
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a) | 6.49 |
(a) | Florida Power & Light Company has no preference equity securities outstanding; therefore, the ratio of earnings to fixed charges is the same as the ratio of earnings to combined fixed charges and preferred stock dividends. |