EX-12.B 3 exhibit12b.htm EXHIBIT 12(B) exhibit12b.htm



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)


 
Three Months Ended
March 31, 2010
 
(millions of dollars)
         
Earnings, as defined:
       
Net income
 
$
191
 
Income taxes
   
121
 
Fixed charges included in the determination of net income, as below
   
92
 
Total earnings, as defined
 
$
404
 
         
Fixed charges, as defined:
       
Interest expense
 
$
87
 
Rental interest factor
   
2
 
Allowance for borrowed funds used during construction
   
3
 
Fixed charges included in the determination of net income
   
92
 
Capitalized interest
   
1
 
Total fixed charges, as defined
 
$
93
 
         
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends (a)
   
4.34
 
¾¾¾¾¾¾¾¾¾¾
(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.