Exhibit 12.2
PBF ENERGY COMPANY LLC
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of earnings to fixed charges for the periods presented (amounts in thousands).
| Six Months Ended June 30, 2015 | Year Ended December 31, | |||||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations | $ | 446,852 | $ | 51,350 | $ | 239,033 | $ | 805,312 | $ | 242,671 | $ | (44,357 | ) | |||||||||||
add: | ||||||||||||||||||||||||
Fixed Charges | 68,792 | 133,168 | 117,706 | 122,535 | 75,252 | 1,777 | ||||||||||||||||||
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Adjusted Earnings | $ | 515,644 | $ | 184,518 | $ | 356,739 | $ | 927,847 | $ | 317,923 | $ | (42,580 | ) | |||||||||||
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Fixed Charges: | ||||||||||||||||||||||||
Interest Expense (includes capitalized interest) | 48,120 | 100,361 | 93,607 | 105,710 | 75,458 | 1,354 | ||||||||||||||||||
Amortization of debt discount and expense | 4,022 | 7,828 | 6,479 | 9,806 | 3,174 | 67 | ||||||||||||||||||
Estimate of interest within rental expense | 17,648 | 32,496 | 23,292 | 13,716 | 9,647 | 356 | ||||||||||||||||||
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Fixed Charges | $ | 69,790 | $ | 140,685 | $ | 123,378 | $ | 129,232 | $ | 88,279 | $ | 1,777 | ||||||||||||
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Ratio of Earnings to Fixed Charges (a) | 7.4 | x | 1.3 | x | 2.9 | x | 7.2 | x | 3.6 | x | — | |||||||||||||
Coverage deficiency (b) | — | — | — | — | — | $ | 42,580 | |||||||||||||||||
| (a) | For purposes of determining the ratio of earnings to fixed charges, earnings consist of income from continuing operations before income taxes and fixed charges (excluding interest capitalized during the period). Fixed charges consist of interest expense (including interest capitalized during the period), amortization of debt discount and deferred financing costs and the portion of rental expense that is representative of the interest factor in these rentals. |
| (b) | The earnings for the year ended December 31, 2010 was inadequate to cover fixed charges. |