EXHIBIT 12
TOSCO CORPORATION AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
(Thousands of Dollars, Except Ratio Data)
(Unaudited)
Three Months Ended September 30, Nine Months Ended September 30,
1997 1996 1997 1996
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Income before income taxes $172,536 $72,311 $293,346 $195,830
Fixed charges to be added to income before income taxes:
Interest expense, including amortization of debt expenses 39,664 27,177 109,608 64,764
Distributions on company-obligated, mandatorily redeemable,
convertible preferred securities 4,313 12,938
Interest factor of rental expense 10,281 8,595 25,972 19,602
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Earnings $ 226,794 $108,083 $441,864 $280,196
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Fixed charges:
Interest expense, including amortization of debt expenses $39,664 $27,177 $109,608 $ 64,764
Interest capitalized 499 406 1,206 1,055
Distributions on company-obligated, mandatorily redeemable,
convertible preferred securities 4,313 12,938
Interest factor of rental expense 10,281 8,595 25,972 19,602
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Total fixed charges $54,757 $36,178 $149,724 $85,421
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Ratio of earnings to fixed charges 4.14 2.99 2.95 3.28
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TOSCO CORPORATION
(Registrant)
Date: November 14, 1997 By: /S/ JEFFERSON F. ALLEN
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(Jefferson F. Allen)
President
By: /S/ ROBERT I. SANTO
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(Robert I. Santo)
Chief Accounting Officer