EX-12.B 7 nee-12312017ex12b.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,
 
2017
 
 
2016
 
 
2015
 
2014
 
2013
 
(millions of dollars)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
Net income
$
1,880
 
 
$
1,727
 
 
$
1,648
 
 
$
1,517
 
 
$
1,349
 
Income taxes
1,106
 
 
1,051
 
 
957
 
 
910
 
 
835
 
Fixed charges, as below
518
 
 
493
 
 
478
 
 
466
 
 
451
 
Total earnings, as defined
$
3,504
 
 
$
3,271
 
 
$
3,083
 
 
$
2,893
 
 
$
2,635
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
Interest expense
$
482
 
 
$
456
 
 
$
445
 
 
$
439
 
 
$
415
 
Rental interest factor
14
 
 
14
 
 
12
 
 
12
 
 
10
 
Allowance for borrowed funds used during construction
22
 
 
23
 
 
21
 
 
15
 
 
26
 
Total fixed charges, as defined
$
518
 

$
493
 
 
$
478
 
 
$
466
 
 
$
451
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a)
6.76
 
 
6.63
 
 
6.45
 
 
6.21
 
 
5.84
 
__________________

(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.