EX-12.B 6 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)


   
Years Ended December 31,
 
   
2010
   
2009
   
2008
   
2007
   
2006
 
   
(millions of dollars)
 
                               
Earnings, as defined:
                             
Net income
  $ 945     $ 831     $ 789     $ 836     $ 802  
Income taxes
    580       473       443       451       424  
Fixed charges included in the determination of net income, as below
    382       347       359       325       296  
Total earnings, as defined
  $ 1,907     $ 1,651     $ 1,591     $ 1,612     $ 1,522  
                                         
Fixed charges, as defined:
                                       
Interest expense
  $ 361     $ 318     $ 334     $ 304     $ 278  
Rental interest factor
    8       7       7       7       7  
Allowance for borrowed funds used during construction
    13       22       18       14       11  
Fixed charges included in the determination of net income
    382       347       359       325       296  
Capitalized interest
    3       2       -       -       -  
Total fixed charges, as defined
  $ 385     $ 349     $ 359     $ 325     $ 296  
                                         
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a)
    4.95       4.73       4.43       4.96       5.14  
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.