EX-12.B 7 nee-12312016ex12b.htm EXHIBIT 12.B Exhibit


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,
 
2016
 
 
2015
 
 
2014
 
2013
 
2012
 
(millions of dollars)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
Net income
$
1,727
 
 
$
1,648
 
 
$
1,517
 
 
$
1,349
 
 
$
1,240
 
Income taxes
1,051
 
 
957
 
 
910
 
 
835
 
 
752
 
Fixed charges, as below
493
 
 
478
 
 
466
 
 
451
 
 
450
 
Total earnings, as defined
$
3,271
 
 
$
3,083
 
 
$
2,893
 
 
$
2,635
 
 
$
2,442
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Interest expense
$
456
 
 
$
445
 
 
$
439
 
 
$
415
 
 
$
417
 
Rental interest factor
14
 
 
12
 
 
12
 
 
10
 
 
11
 
Allowance for borrowed funds used during construction
23
 
 
21
 
 
15
 
 
26
 
 
22
 
Total fixed charges, as defined
$
493
 
493

$
478
 
 
$
466
 
 
$
451
 
 
$
450
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a)
6.63
 
 
6.45
 
 
6.21
 
 
5.84
 
 
5.43
 
__________________

(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.