Murphy USA Inc. and Consolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (unaudited)
(Thousands of dollars)
|
| | | | | | | | | | | | | | | |
| | Years Ended December 31, |
| | 2015 | 2014 | 2013 | 2012 | 2011 |
| Income from continuing operations before income taxes | $ | 218,289 |
| $ | 339,347 |
| $ | 254,194 |
| $ | 229,940 |
| $ | 310,409 |
|
| Distributions greater than equity in earnings of affiliates | — |
| — |
| — |
| — |
| — |
|
| Previously capitalized interest charged to earnings during the period | — |
| — |
| — |
| — |
| — |
|
| Interest and expense on indebtedness, excluding capitalized interest | 33,531 |
| 36,646 |
| 14,608 |
| 505 |
| 548 |
|
| Interest portion of rentals * | 7,473 |
| 2,842 |
| 2,380 |
| 2,610 |
| 3,015 |
|
| Earnings before provision for taxes and fixed charges | $ | 259,293 |
| $ | 378,835 |
| $ | 271,182 |
| $ | 233,055 |
| $ | 313,972 |
|
| | | | | | |
| | | | | | |
| Interest and expense on indebtedness, excluding capitalized interest | $ | 33,531 |
| $ | 36,646 |
| $ | 14,608 |
| $ | 505 |
| $ | 548 |
|
| Capitalized interest | — |
| — |
| — |
| — |
| — |
|
| Interest portion of rentals * | 7,473 |
| 2,842 |
| 2,380 |
| 2,610 |
| 3,015 |
|
| Total fixed charges | $ | 41,004 |
| $ | 39,488 |
| $ | 16,988 |
| $ | 3,115 |
| $ | 3,563 |
|
| | | | | | |
| Ratio of earnings to fixed charges | 6.3 |
| 9.6 |
| 16.0 |
| 74.8 |
| 88.1 |
|
| | | | | | |
| * Calculated as one-third of rentals. Considered a reasonable approximation of interest factor. |
