EX-12 14 exh12a.htm EXHIBIT 12(A) EXHIBIT 12(a)

EXHIBIT 12(a)

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

Years Ended December 31,

2001

2000

1999

1998

1997

 

(millions of dollars)

 
                               

Earnings, as defined:

                             

    Net income

$

781

 

$

704

 

$

697

 

$

664

 

$

618

 

    Income taxes

 

379

   

336

   

323

   

279

   

304

 

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

 


337

   


296

   


234

   


335

   


304

 

    Amortization of capitalized interest

 

1

   

-

   

-

   

-

   

-

 

    Distributed income of independent power investments

 

62

   

80

   

75

   

68

   

47

 

    Less:  Equity in earnings of independent power
        investments



81



45



50



39



14

            Total earnings, as defined

$

1,479

$

1,371

$

1,279

$

1,307

$

1,259

                               

Fixed charges, as defined:

                             

    Interest charges

$

324

 

$

278

 

$

222

 

$

322

 

$

291

 

    Rental interest factor

 

8

   

9

   

4

   

4

   

4

 

    Fixed charges included in nuclear fuel cost

5

9

8

9

9

    Fixed charges included in the determination of net
        income

 


337

   


296

   


234

   


335

   


304

 

    Capitalized interest

55

23

9

2

4

                               

            Total fixed charges, as defined

$

392

$

319

$

243

$

337

$

308

                               

Ratio of earnings to fixed charges

3.77

4.30

5.26

3.88

4.09