Exhibit
12(a)
FPL
GROUP, INC. 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,
|
|||||||||||||||
|
2008
|
2007
|
2006
|
2005
|
2004
|
|||||||||||
|
(millions
of dollars)
|
|||||||||||||||
|
Earnings,
as defined:
|
|||||||||||||||
|
Net income
|
$
|
1,639
|
$
|
1,312
|
$
|
1,281
|
$
|
901
|
$
|
896
|
|||||
|
Income taxes
|
450
|
368
|
397
|
282
|
272
|
||||||||||
|
Fixed charges included in the
determination of net income, as below
|
859
|
799
|
732
|
622
|
516
|
||||||||||
|
Amortization of capitalized
interest
|
15
|
12
|
11
|
11
|
8
|
||||||||||
|
Distributed income of equity
method investees
|
124
|
175
|
104
|
86
|
83
|
||||||||||
|
Less: Equity in
earnings of equity method investees
|
93
|
68
|
181
|
124
|
96
|
||||||||||
|
Total earnings, as
defined
|
$
|
2,994
|
$
|
2,598
|
$
|
2,344
|
$
|
1,778
|
$
|
1,679
|
|||||
|
Fixed
charges, as defined:
|
|||||||||||||||
|
Interest
expense
|
$
|
813
|
$
|
762
|
$
|
706
|
$
|
593
|
$
|
489
|
|||||
|
Rental interest
factor
|
28
|
23
|
15
|
16
|
16
|
||||||||||
|
Allowance for borrowed funds
used during construction
|
18
|
14
|
11
|
13
|
11
|
||||||||||
|
Fixed charges included in the
determination of net income
|
859
|
799
|
732
|
622
|
516
|
||||||||||
|
Capitalized
interest
|
55
|
40
|
18
|
8
|
43
|
||||||||||
|
Total fixed charges, as
defined
|
$
|
914
|
$
|
839
|
$
|
750
|
$
|
630
|
$
|
559
|
|||||
|
-
|
|||||||||||||||
|
Ratio
of earnings to fixed charges and ratio of earnings to combined fixed
charges and preferred stock dividends (a)
|
3.28
|
3.10
|
3.13
|
2.82
|
3.00
|
||||||||||
____________________
|
(a)
|
FPL
Group, 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.
|