EX-12 3 musa-20140630ex127b3b94c.htm EX-12 Exhibit 12 Ratio of Earnings to FC

Exhibit 12

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, 2014

 

2013

2012

2011

2010

2009

Income from continuing operations before income taxes

 
122,065 

 
257,677 
150,119 
310,813 
200,652 
61,255 

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

 
19,622 

 
14,608 
505 
548 
3,835 
2,119 

Interest portion of rentals *

 
1,858 

 
3,230 
3,158 
3,438 
2,739 
2,030 

Earnings before provision for taxes and fixed charges

 
143,545 

 
275,515 
153,782 
314,799 
207,226 
65,404 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and expense on indebtedness, excluding capitalized interest

 
19,622 

 
14,608 
505 
548 
3,835 
2,119 

Capitalized interest

 

 -

 

 -

 -

 -

 -

 -

Interest portion of rentals *

 
1,858 

 
3,230 
3,158 
3,438 
2,739 
2,030 

Total fixed charges

 
21,480 

 
17,838 
3,663 
3,986 
6,574 
4,149 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 
6.7 

 
15.4 
42.0 
79.0 
31.5 
15.8 

 

 

 

 

 

 

 

 

 

*    Calculated as one-third of rentals.  Considered a reasonable approximation of interest factor.