EX-12 3 exhibit12a.htm EXHIBIT 12A EXHIBIT 12(a)

Exhibit 12(a)

FPL GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Three Months Ended
March 31, 2003

 

(millions of dollars)

Earnings, as defined:

     

    Net income

$

175

 

    Income taxes

 

78

 

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

 

83

 

    Amortization of capitalized interest

 

1

 

    Distributed income of independent power investments

 

8

 

    Less: Equity in earnings of equity method investees

34

       

        Total earnings, as defined

$

379

       

Fixed charges, as defined:

     

    Interest charges

$

77

    Rental interest factor

 

5

 

    Fixed charges included in nuclear fuel cost

1

    Fixed charges, included in the determination of net income

 

83

 

    Capitalized interest

25

       

        Total fixed charges, as defined

$

108

       

Ratio of earnings to fixed charges

3.51