EX-12.1 2 exhibit121ratioofearningst.htm EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHG Exhibit
Exhibit 12.1


Murphy USA Inc. and Consolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (unaudited)
(Thousands of dollars)


 
 
Years Ended December 31,
 
 
2014
2013
2012
2011
2010
Income from continuing operations before income taxes
 $
339,347

254,194

229,940

310,409

202,173

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
 
36,646

14,608

505

548

3,835

Interest portion of rentals *
 
2,842

2,380

2,610

3,015

2,739

Earnings before provision for taxes and fixed charges
 $
378,835

271,182

233,055

313,972

208,747

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest and expense on indebtedness, excluding capitalized interest
 $
36,646

14,608

505

548

3,835

Capitalized interest
 
—

—

—

—

—

Interest portion of rentals *
 
2,842

2,380

2,610

3,015

2,739

Total fixed charges
 $
39,488

16,988

3,115

3,563

6,574

 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
9.6

16.0

74.8

88.1

31.8

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