EX-12.A 6 nee-12312011xex12a.htm EXHIBIT 12(A) NEE-12.31.2011-Ex 12.A


Exhibit 12(a)


NEXTERA ENERGY, 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,
 
2011
 
2010
 
2009
 
2008
 
2007
 
(millions of dollars)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
Net income
$
1,923
 
 
$
1,957
 
 
$
1,615
 
 
$
1,639
 
 
$
1,312
 
Income taxes
529
 
 
532
 
 
327
 
 
450
 
 
368
 
Fixed charges included in the determination of net income, as below
1,094
 
 
1,025
 
 
899
 
 
859
 
 
799
 
Amortization of capitalized interest
21
 
 
21
 
 
17
 
 
15
 
 
12
 
Distributed income of equity method investees
95
 
 
74
 
 
69
 
 
124
 
 
175
 
Less:  Equity in earnings of equity method investees
55
 
 
58
 
 
52
 
 
93
 
 
68
 
Total earnings, as defined
$
3,607
 
 
$
3,551
 
 
$
2,875
 
 
$
2,994
 
 
$
2,598
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Interest expense
$
1,035
 
 
$
979
 
 
$849
 
 
$813
 
 
$762
 
Rental interest factor
41
 
 
32
 
 
28
 
 
28
 
 
23
 
Allowance for borrowed funds used during construction
18
 
 
14
 
 
22
 
 
18
 
 
14
 
Fixed charges included in the determination of net income
1,094
 
 
1,025
 
 
899
 
 
859
 
 
799
 
Capitalized interest
107
 
 
75
 
 
88
 
 
55
 
 
40
 
Total fixed charges, as defined
$
1,201
 
 
$
1,100
 
 
$
987
 
 
$
914
 
 
$
839
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a)
3.00
 
 
3.23
 
 
2.91
 
 
3.28
 
 
3.10
 
__________________

(a)
NextEra Energy, 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.