NEXTERA ENERGY INC 10-K form for the fiscal year ended 2023-12-31, page 60: 
Table of Contents



NEXTERA ENERGY, INC.


CONSOLIDATED STATEMENTS OF INCOME

(millions, except per share amounts)
|    |                                                                                                             |      |                          |        |        |    |        |         |    |        |
|---:|:------------------------------------------------------------------------------------------------------------|:-----|:-------------------------|:-------|:-------|:---|:-------|:--------|:---|:-------|
|  1 |                                                                                                             |      | Years Ended December 31, |        |        |    |        |         |    |        |
|  2 |                                                                                                             | 2023 |                          | 2022   | 2021   |    |        |         |    |        |
|  3 | OPERATING REVENUES                                                                                          |      | $                        | 28,114 |        | $  | 20,956 |         | $  | 17,069 |
|  4 | OPERATING EXPENSES                                                                                          |      |                          |        |        |    |        |         |    |        |
|  5 | Fuel, purchased power and interchange                                                                       |      | 5,457                    |        | 6,389  |    |        | 4,527   |    |        |
|  6 | Other operations and maintenance                                                                            |      | 4,681                    |        | 4,428  |    |        | 3,981   |    |        |
| 10 | Depreciation and amortization                                                                               |      | 5,879                    |        | 4,503  |    |        | 3,924   |    |        |
| 11 | Taxes other than income taxes and other – net                                                               |      | 2,265                    |        | 2,077  |    |        | 1,801   |    |        |
| 12 | Total operating expenses – net                                                                              |      | 18,282                   |        | 17,397 |    |        | 14,233  |    |        |
| 13 | GAINS ON DISPOSAL OF BUSINESSES/ASSETS – NET                                                                |      | 405                      |        | 522    |    |        | 77      |    |        |
| 14 | OPERATING INCOME                                                                                            |      | 10,237                   |        | 4,081  |    |        | 2,913   |    |        |
| 15 | OTHER INCOME (DEDUCTIONS)                                                                                   |      |                          |        |        |    |        |         |    |        |
| 16 | Interest expense                                                                                            |      | (3,324)                  |        | (585)  |    |        | (1,270) |    |        |
| 18 | Equity in earnings (losses) of equity method investees                                                      |      | (648)                    |        | 203    |    |        | 666     |    |        |
| 19 | Allowance for equity funds used during construction                                                         |      | 161                      |        | 112    |    |        | 142     |    |        |
| 21 | Gains on disposal of investments and other property – net                                                   |      | 125                      |        | 80     |    |        | 70      |    |        |
| 22 | Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net |      | 159                      |        | (461)  |    |        | 267     |    |        |
| 23 | Other net periodic benefit income                                                                           |      | 245                      |        | 202    |    |        | 257     |    |        |
| 24 | Other – net                                                                                                 |      | 333                      |        | 200    |    |        | 130     |    |        |
| 25 | Total other income (deductions) – net                                                                       |      | (2,949)                  |        | (249)  |    |        | 262     |    |        |
| 26 | INCOME BEFORE INCOME TAXES                                                                                  |      | 7,288                    |        | 3,832  |    |        | 3,175   |    |        |
| 27 | INCOME TAXES                                                                                                |      | 1,006                    |        | 586    |    |        | 348     |    |        |
| 28 | NET INCOME                                                                                                  |      | 6,282                    |        | 3,246  |    |        | 2,827   |    |        |
| 29 | NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS                                                           |      | 1,028                    |        | 901    |    |        | 746     |    |        |
| 30 | NET INCOME ATTRIBUTABLE TO NEE                                                                              |      | $                        | 7,310  |        | $  | 4,147  |         | $  | 3,573  |
| 31 | Earnings per share attributable to NEE:                                                                     |      |                          |        |        |    |        |         |    |        |
| 32 | Basic                                                                                                       |      | $                        | 3.61   |        | $  | 2.10   |         | $  | 1.82   |
| 33 | Assuming dilution                                                                                           |      | $                        | 3.60   |        | $  | 2.10   |         | $  | 1.81   |

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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Question: What was the interest coverage ratio for NEE in 2023?
Answer: The interest coverage ratio is calculated by dividing earnings before interest and taxes (EBIT) by interest expense. For NEE in 2023, the operating income (EBIT) was $10,237 million, and the interest expense was $3,324 million. Therefore, the interest coverage ratio for NEE in 2023 is:

Interest Coverage Ratio = EBIT / Interest Expense = $10,237 million / $3,324 million ≈ 3.08