EX-12.A 15 exhibit12a.htm EXHIBIT 12(A) exhibit12a.htm


Exhibit 12(a)


FPL GROUP, 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,
 
   
2009
   
2008
   
2007
   
2006
   
2005
 
   
(millions of dollars)
 
Earnings, as defined:
                             
Net income
  $ 1,615     $ 1,639     $ 1,312     $ 1,281     $ 901  
Income taxes
    327       450       368       397       282  
Fixed charges included in the determination of net income, as below
    899       859       799       732       622  
Amortization of capitalized interest
    17       15       12       11       11  
Distributed income of equity method investees
    69       124       175       104       86  
Less:  Equity in earnings of equity method investees
    52       93       68       181       124  
Total earnings, as defined
  $ 2,875     $ 2,994     $ 2,598     $ 2,344     $ 1,778  
                                         
Fixed charges, as defined:
                                       
Interest expense
  $ 849     $ 813     $ 762     $ 706     $ 593  
Rental interest factor
    28       28       23       15       16  
Allowance for borrowed funds used during construction
    22       18       14       11       13  
Fixed charges included in the determination of net income
    899       859       799       732       622  
Capitalized interest
    88       55       40       18       8  
Total fixed charges, as defined
  $ 987     $ 914     $ 839     $ 750     $ 630  
                              -          
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends (a)
    2.91       3.28       3.10       3.13       2.82  
¾¾¾¾¾¾¾¾¾¾
(a)
FPL Group, 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.