Exhibit 12(a)
NEXTERA ENERGY, 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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2010
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2009
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2008
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2007
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2006
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(millions of dollars)
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Earnings, as defined:
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Net income
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$ | 1,957 | $ | 1,615 | $ | 1,639 | $ | 1,312 | $ | 1,281 | ||||||||||
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Income taxes
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532 | 327 | 450 | 368 | 397 | |||||||||||||||
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Fixed charges included in the determination of net income, as below
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1,025 | 899 | 859 | 799 | 732 | |||||||||||||||
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Amortization of capitalized interest
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21 | 17 | 15 | 12 | 11 | |||||||||||||||
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Distributed income of equity method investees
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74 | 69 | 124 | 175 | 104 | |||||||||||||||
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Less: Equity in earnings of equity method investees
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58 | 52 | 93 | 68 | 181 | |||||||||||||||
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Total earnings, as defined
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$ | 3,551 | $ | 2,875 | $ | 2,994 | $ | 2,598 | $ | 2,344 | ||||||||||
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Fixed charges, as defined:
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Interest expense
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$ | 979 | $ | 849 | $ | 813 | $ | 762 | $ | 706 | ||||||||||
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Rental interest factor
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32 | 28 | 28 | 23 | 15 | |||||||||||||||
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Allowance for borrowed funds used during construction
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14 | 22 | 18 | 14 | 11 | |||||||||||||||
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Fixed charges included in the determination of net income
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1,025 | 899 | 859 | 799 | 732 | |||||||||||||||
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Capitalized interest
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75 | 88 | 55 | 40 | 18 | |||||||||||||||
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Total fixed charges, as defined
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$ | 1,100 | $ | 987 | $ | 914 | $ | 839 | $ | 750 | ||||||||||
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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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3.23 | 2.91 | 3.28 | 3.10 | 3.13 | |||||||||||||||
¾¾¾¾¾¾¾¾¾¾
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(a)
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NextEra Energy, 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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