NextEra Energy (NEE) 10-K 2017 FY Annual report

Exhibit 12(a)

NEXTERA ENERGY, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS^(a) 

	Years Ended December 31,
	2017			2016		2015		2014		2013
	(millions of dollars)
Earnings, as defined:
Net Income	$	5,320		$	3,005	$	2,762	$	2,469	$	1,677
Income taxes	(653		)	1,383		1,228		1,176		777
Fixed charges included in the determination of net income, as below	1,658			1,184		1,287		1,331		1,195
Amortization of capitalized interest	38			38		40		39		34
Distributed income of equity method investees	160			102		80		33		33
Less equity in earnings of equity method investees	141			148		107		93		25
Total earnings, as defined	$	6,382		$	5,564	$	5,290	$	4,955	$	3,691
Fixed charges, as defined:
Interest expense	$	1,558		$	1,093	$	1,211	$	1,261	$1,121
Rental interest factor	75			66		55		55		47
Allowance for borrowed funds used during construction	25			25		21		15		27
Fixed charges included in the determination of net income	1,658			1,184		1,287		1,331		1,195
Capitalized interest	89			110		100		113		140
Total fixed charges, as defined	$	1,747		$	1,294	$	1,387	$	1,444	$	1,335
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a)	3.65			4.30		3.81		3.43		2.76

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(a) NextEra Energy, Inc. 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.