EX-12.(A) 3 nee-12312014ex12a.htm EXHIBIT 12(A) NEE-12.31.2014 Ex 12a


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,
 
2014
 
2013
 
2012
 
2011
 
2010
 
(millions of dollars)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
Income from continuing operations
$
2,469
 
 
$
1,677
 
 
$
1,911
 
 
$
1,923
 
 
$
1,957
 
Income taxes
1,176
 
 
777
 
 
692
 
 
529
 
 
532
 
Fixed charges included in the determination of income from continuing operations, as below
1,331
 
 
1,195
 
 
1,124
 
 
1,094
 
 
1,025
 
Amortization of capitalized interest
39
 
 
34
 
 
25
 
 
21
 
 
21
 
Distributed income of equity method investees
33
 
 
33
 
 
32
 
 
95
 
 
74
 
Less:  Equity in earnings of equity method investees
93
 
 
25
 
 
13
 
 
55
 
 
58
 
Total earnings, as defined
$
4,955
 
 
$
3,691
 
 
$
3,771
 
 
$
3,607
 
 
$
3,551
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Interest expense
$
1,261
 
 
$
1,121
 
 
$
1,038
 
 
$
1,035
 
 
$979
 
Rental interest factor
55
 
 
47
 
 
52
 
 
41
 
 
32
 
Allowance for borrowed funds used during construction
15
 
 
27
 
 
34
 
 
18
 
 
14
 
Fixed charges included in the determination of income from continuing operations
1,331
 
 
1,195
 
 
1,124
 
 
1,094
 
 
1,025
 
Capitalized interest
113
 
 
140
 
 
155
 
 
107
 
 
75
 
Total fixed charges, as defined
$
1,444
 
 
$
1,335
 
 
$
1,279
 
 
$
1,201
 
 
$
1,100
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a)
3.43
 
 
2.76
 
 
2.95
 
 
3.00
 
 
3.23
 
__________________

(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.