MURPHY OIL CORP - FORM 10-Q - EX-12 - August 5, 2014

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EXCEL - IDEA: XBRL DOCUMENT - MURPHY OIL CORPFinancial_Report.xls
EX-31.2 - EX-31.2 - MURPHY OIL CORPd735881dex312.htm
EX-4.2 - EX-4.2 - MURPHY OIL CORPd735881dex42.htm
EX-32 - EX-32 - MURPHY OIL CORPd735881dex32.htm
EX-31.1 - EX-31.1 - MURPHY OIL CORPd735881dex311.htm
EX-4.1 - EX-4.1 - MURPHY OIL CORPd735881dex41.htm
10-Q - 10-Q - MURPHY OIL CORPd735881d10q.htm

EXHIBIT 12

Murphy Oil Corporation 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

    $ 638,774         1,472,687         1,368,010         1,167,875         1,115,639         1,124,587   

Distributions greater than equity in earnings of affiliates

      2,409         5,204         6,648         2,622         5,343         4,970   

Previously capitalized interest charged to earnings during period

      8,413         16,896         18,061         18,757         29,401         26,954   

Interest and expense on indebtedness, excluding capitalized interest

      52,734         71,900         14,932         40,700         34,728         24,391   

Interest portion of rentals*

      31,684         44,478         42,103         42,235         44,122         32,563   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Earnings before provision for taxes and fixed charges

    $ 734,014         1,611,165         1,449,754         1,272,189         1,229,233         1,213,465   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Interest and expense on indebtedness, excluding capitalized interest

      52,734         71,900         14,932         40,700         34,728         24,391   

Capitalized interest

      13,921         52,523         39,173         15,131         18,444         28,614   

Interest portion of rentals*

      31,684         44,478         42,103         42,235         44,122         32,563   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges

    $ 98,339         168,901         96,208         98,066         97,294         85,568   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      7.5         9.5         15.1         13.0         12.6         14.2   

 

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

 

Ex. 12-1

MURPHY OIL CORP Reports