Six Months Ended June 30, 2017 | |||
(millions of dollars) | |||
Earnings, as defined: | |||
Net income | $ | 2,395 | |
Income taxes | 964 | ||
Fixed charges included in the determination of net income, as below | 839 | ||
Amortization of capitalized interest | 19 | ||
Distributed income of equity method investees | 63 | ||
Less equity in earnings of equity method investees | 97 | ||
Total earnings, as defined | $ | 4,183 | |
Fixed charges, as defined: | |||
Interest expense | $ | 790 | |
Rental interest factor | 37 | ||
Allowance for borrowed funds used during construction | 12 | ||
Fixed charges included in the determination of net income | 839 | ||
Capitalized interest | 44 | ||
Total fixed charges, as defined | $ | 883 | |
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a) | 4.74 | ||
(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. |