EXHIBIT 12(a)
FPL GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Six Months
Ended
June 30, Years Ended December 31,
1999 1998 1997 1996 1995 1994
---------- ------ ------ ------ ------ ------
(Millions of Dollars)
Earnings, as defined:
Net income ............................................ $ 286 $ 664 $ 618 $ 579 $ 553 $ 519
Income taxes .......................................... 134 279 304 294 329 307
Fixed charges, included in the determination of
net income, as below ................................ 112 335 304 283 308 337
Distributed income of independent power investments.... 31 68 47 38 39 28
Less: Equity in earnings of independent power
investments ......................................... 24 39 14 5 6 (3)
Total earnings, as defined ........................ $ 539 $1,307 $1,259 $1,189 $1,223 $1,194
Fixed charges, as defined:
Interest charges ...................................... $ 106 $ 322 $ 291 $ 267 $ 291 $ 319
Rental interest factor ................................ 2 4 4 5 6 7
Fixed charges included in nuclear fuel cost ........... 4 9 9 11 11 11
Fixed charges, included in the determination of net
income .............................................. 112 335 304 283 308 337
Capitalized interest .................................. 1 2 4 - - -
Total fixed charges, as defined ................... $ 113 $ 337 $ 308 $ 283 $ 308 $ 337
Ratio of earnings to fixed charges ...................... 4.77 3.88 4.09 4.20 3.97 3.54