EX-12.B 7 nee-12312017ex12b.htm EXHIBIT 12(B)
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 |

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(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.