EX-12 4 nep-12312016ex12.htm EXHIBIT 12 Exhibit


Exhibit 12


NEXTERA ENERGY PARTNERS, LP
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED UNIT DISTRIBUTIONS(a) 


 
Years Ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
 
(millions of dollars)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
Net income
$
345

 
$
102

 
$
97

 
$
20

 
$
12

Income taxes
56

 
25

 
(14
)
 
28

 
4

Fixed charges included in the determination of net income, as below
155

 
124

 
103

 
52

 
53

Amortization of capitalized interest
6

 
3

 
2

 
—

 
—

Distributed income of equity method investee
—

 
—

 
—

 
—

 
—

Less:  Equity in earnings of equity method investee and non-economic ownership interests
(16
)
 
(16
)
 
(7
)
 
—

 
4

Total earnings, as defined
$
546

 
$
238

 
$
181

 
$
100

 
$
73

 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Interest expense
$
147

 
$
117

 
$
100

 
$
49

 
$
51

Rental interest factor
8

 
7

 
3

 
3

 
2

Fixed charges included in the determination of net income
155

 
124

 
103

 
52

 
53

Capitalized interest
—

 
—

 
4

 
30

 
15

Total fixed charges, as defined
$
155

 
$
124

 
$
107

 
$
82

 
$
68

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred unit distributions(a)
3.52

 
1.92

 
1.69

 
1.22

 
1.07

————————————
(a)
NextEra Energy Partners, LP 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 unit distributions.