Six Months Ended June 30, 2017 | |||
(millions of dollars) | |||
Earnings, as defined: | |||
Net income | $ | 970.7 | |
Income taxes | 576.3 | ||
Fixed charges, as below | 256.4 | ||
Total earnings, as defined | $ | 1,803.4 | |
Fixed charges, as defined: | |||
Interest expense | $ | 239.5 | |
Rental interest factor | 7.3 | ||
Allowance for borrowed funds used during construction | 9.6 | ||
Total fixed charges, as defined | $ | 256.4 | |
Ratio of earnings to fixed charges and ratio of earnings to combined fixed charges and preferred stock dividends(a) | 7.03 | ||
(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. |