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)
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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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$ | 831 | $ | 789 | $ | 836 | $ | 802 | $ | 748 | ||||||||||
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Income
taxes
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473 | 443 | 451 | 424 | 408 | |||||||||||||||
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Fixed
charges included in the determination of net income, as
below
|
347 | 359 | 325 | 296 | 244 | |||||||||||||||
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Total
earnings, as defined
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$ | 1,651 | $ | 1,591 | $ | 1,612 | $ | 1,522 | $ | 1,400 | ||||||||||
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Fixed
charges, as defined:
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Interest
expense
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$ | 318 | $ | 334 | $ | 304 | $ | 278 | $ | 224 | ||||||||||
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Rental
interest factor
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7 | 7 | 7 | 7 | 7 | |||||||||||||||
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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
|
347 | 359 | 325 | 296 | 244 | |||||||||||||||
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Capitalized
interest
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2 | - | - | - | - | |||||||||||||||
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Total
fixed charges, as defined
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$ | 349 | $ | 359 | $ | 325 | $ | 296 | $ | 244 | ||||||||||
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Ratio
of earnings to fixed charges and ratio of earnings to combined fixed
charges and preferred stock dividends (a)
|
4.73 | 4.43 | 4.96 | 5.14 | 5.74 | |||||||||||||||
¾¾¾¾¾¾¾¾¾¾
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(a)
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Florida
Power & Light Company’s preference equity securities were redeemed in
January 2005. For the year ended December 31, 2005, preferred
stock dividends were less than $1 million. Therefore, for the
years ended December 31, 2009, 2008, 2007, 2006 and 2005, 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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