Exhibit 12.2
VALERO ENERGY CORPORATION
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
| Three Months Ended March 31, 2018 | ||||
Earnings: | ||||
Income from continuing operations before income tax expense, excluding income from equity investees | $ | 742 | ||
Add: | ||||
Fixed charges | 192 | |||
Amortization of capitalized interest | 10 | |||
Distributions from equity investees | 5 | |||
Less: | ||||
Interest capitalized | (18 | ) | ||
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| |||
Total earnings | $ | 931 | ||
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Fixed charges: | ||||
Interest and debt expense, net of capitalized interest | $ | 121 | ||
Interest capitalized | 18 | |||
Rental expense interest factor (a) | 53 | |||
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Total fixed charges | $ | 192 | ||
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Ratio of earnings to fixed charges | 4.8 x | |||
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| (a) | The interest portion of rental expense representsone-third of rents, which is deemed representative of the interest portion of rental expense. |
