EX-12 3 exh12_12016ratioofearnings.htm EXHIBIT 12 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,
 
2016
2015
2014
2013
2012
Income from continuing operations before income taxes
$
352,031

$
218,289

$
339,347

$
254,194

$
229,940

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
40,041

33,531

36,646

14,608

505

Interest portion of rentals *
7,728

7,473

2,842

2,380

2,610

Earnings before provision for taxes and fixed charges
$
399,800

$
259,293

$
378,835

$
271,182

$
233,055

 
 
 
 
 
 
 
 
 
 
 
 
Interest and expense on indebtedness, excluding capitalized interest
$
40,041

$
33,531

$
36,646

$
14,608

$
505

Capitalized interest
(337
)
—

—

—

—

Interest portion of rentals *
7,728

7,473

2,842

2,380

2,610

Total fixed charges
$
47,432

$
41,004

$
39,488

$
16,988

$
3,115

 
 
 
 
 
 
Ratio of earnings to fixed charges
8.4

6.3

9.6

16.0

74.8

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