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)
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Years
Ended December 31,
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2009
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2008
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2007
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2006
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2005
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(millions
of dollars)
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Earnings,
as defined:
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Net
income
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$ | 1,615 | $ | 1,639 | $ | 1,312 | $ | 1,281 | $ | 901 | ||||||||||
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Income
taxes
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327 | 450 | 368 | 397 | 282 | |||||||||||||||
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Fixed
charges included in the determination of net income, as
below
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899 | 859 | 799 | 732 | 622 | |||||||||||||||
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Amortization
of capitalized interest
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17 | 15 | 12 | 11 | 11 | |||||||||||||||
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Distributed
income of equity method investees
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69 | 124 | 175 | 104 | 86 | |||||||||||||||
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Less: Equity
in earnings of equity method investees
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52 | 93 | 68 | 181 | 124 | |||||||||||||||
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Total
earnings, as defined
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$ | 2,875 | $ | 2,994 | $ | 2,598 | $ | 2,344 | $ | 1,778 | ||||||||||
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Fixed
charges, as defined:
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Interest
expense
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$ | 849 | $ | 813 | $ | 762 | $ | 706 | $ | 593 | ||||||||||
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Rental
interest factor
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28 | 28 | 23 | 15 | 16 | |||||||||||||||
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Allowance
for borrowed funds used during construction
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22 | 18 | 14 | 11 | 13 | |||||||||||||||
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Fixed
charges included in the determination of net income
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899 | 859 | 799 | 732 | 622 | |||||||||||||||
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Capitalized
interest
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88 | 55 | 40 | 18 | 8 | |||||||||||||||
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Total
fixed charges, as defined
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$ | 987 | $ | 914 | $ | 839 | $ | 750 | $ | 630 | ||||||||||
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Ratio
of earnings to fixed charges and ratio of earnings to combined fixed
charges and preferred stock dividends (a)
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2.91 | 3.28 | 3.10 | 3.13 | 2.82 | |||||||||||||||
¾¾¾¾¾¾¾¾¾¾
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(a)
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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.
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