Exhibit 12.1
Murphy USA Inc. and Consolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (unaudited)
(Thousands of dollars)
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | Six Months | | | | | | | | | | |
| | | Ended | | Years Ended December 31, |
| | | June 30, 2016 | | 2015 | | 2014 | | 2013 | | 2012 | | 2011 |
| Income from continuing operations before income taxes | | $ | 213,443 |
| | $ | 218,289 |
| | $ | 339,346 |
| | $ | 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 | | 19,598 |
| | 33,531 |
| | 36,646 |
| | 14,608 |
| | 505 |
| | 548 |
|
| Interest portion of rentals * | | 3,947 |
| | 7,473 |
| | 2,842 |
| | 2,380 |
| | 2,610 |
| | 3,015 |
|
| Earnings before provision for taxes and fixed charges | | $ | 236,988 |
| | $ | 259,293 |
| | $ | 378,834 |
| | $ | 271,182 |
| | $ | 233,055 |
| | $ | 313,972 |
|
| Interest and expense on indebtedness, excluding capitalized interest | | 19,598 |
| | 33,531 |
| | 36,646 |
| | 14,608 |
| | 505 |
| | 548 |
|
| Capitalized interest | | — |
| | — |
| | — |
| | — |
| | — |
| | — |
|
| Interest portion of rentals * | | 3,947 |
| | 7,473 |
| | 2,842 |
| | 2,380 |
| | 2,610 |
| | 3,015 |
|
| Total fixed charges | | $ | 23,545 |
| | $ | 41,004 |
| | $ | 39,488 |
| | $ | 16,988 |
| | $ | 3,115 |
| | $ | 3,563 |
|
| Ratio of earnings to fixed charges | | 10.1 |
| | 6.3 |
| | 9.6 |
| | 16.0 |
| | 74.8 |
| | 88.1 |
|
