EX-12.B 3 ex12b.htm EXHIBIT 12(B) EX.12 B


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) 


 
Nine Months Ended
September 30, 2011
 
(millions of dollars)
 
 
 
 
Earnings, as defined:
 
 
 
Net income
 
$
852

 
Income taxes
 
519

 
Fixed charges included in the determination of net income, as below
 
305

 
Total earnings, as defined
 
$
1,676

 
 
 
 
 
Fixed charges, as defined:
 
 
 
Interest expense
 
$
287

 
Rental interest factor
 
6

 
Allowance for borrowed funds used during construction
 
12

 
Fixed charges included in the determination of net income
 
305

 
Capitalized interest
 
1

 
Total fixed charges, as defined
 
$
306

 
 
 
 
 
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a)
 
5.48

 
————————————
(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.