EX-12.2 3 d568821dex122.htm EX-12.2 EX-12.2

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
  

 

 

 

Total earnings

   $ 931  
  

 

 

 

Fixed charges:

  

Interest and debt expense, net of capitalized interest

   $ 121  

Interest capitalized

     18  

Rental expense interest factor (a)

     53  
  

 

 

 

Total fixed charges

   $ 192  
  

 

 

 

Ratio of earnings to fixed charges

     4.8 x  
  

 

 

 

 

(a) The interest portion of rental expense represents one-third of rents, which is deemed representative of the interest portion of rental expense.