EX-12.1 2 exh12_1ratioofearningstofc.htm EXHIBIT 12.1 RATIO OF EARNINGS TO FC Exhibit
Exhibit 12


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


 
Years Ended December 31,
 
2015
2014
2013
2012
2011
Income from continuing operations before income taxes
$
218,289

$
339,347

$
254,194

$
229,940

$
310,409

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
33,531

36,646

14,608

505

548

Interest portion of rentals *
7,473

2,842

2,380

2,610

3,015

Earnings before provision for taxes and fixed charges
$
259,293

$
378,835

$
271,182

$
233,055

$
313,972

 
 
 
 
 
 
 
 
 
 
 
 
Interest and expense on indebtedness, excluding capitalized interest
$
33,531

$
36,646

$
14,608

$
505

$
548

Capitalized interest
—

—

—

—

—

Interest portion of rentals *
7,473

2,842

2,380

2,610

3,015

Total fixed charges
$
41,004

$
39,488

$
16,988

$
3,115

$
3,563

 
 
 
 
 
 
Ratio of earnings to fixed charges
6.3

9.6

16.0

74.8

88.1

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