Attached files
file | filename |
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10-Q - FORM 10-Q - MURPHY OIL CORP | d10q.htm |
EX-32 - SECTION 906 PEO AND PFO CERTIFICATION - MURPHY OIL CORP | dex32.htm |
EX-31.1 - SECTION 302 PEO CERTIFICATION - MURPHY OIL CORP | dex311.htm |
EX-31.2 - SECTION 302 PFO CERTIFICATION - MURPHY OIL CORP | dex312.htm |
EXHIBIT 12.1
Murphy Oil Corporation and Consolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (unaudited)
(Thousands of dollars)
Nine Months Ended Sept. 30, 2009 |
Years Ended December 31,1 | |||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||
Income from continuing operations before income taxes |
$ | 740,439 | 2,818,365 | 1,189,004 | 971,883 | 1,319,386 | 800,106 | |||||||||
Distributions (less than) greater than equity in earnings of affiliates |
4,018 | 1,012 | 294 | (4,065 | ) | (5,514 | ) | (4,225 | ) | |||||||
Previously capitalized interest charged to earnings during period |
20,275 | 21,898 | 14,585 | 11,741 | 15,564 | 14,065 | ||||||||||
Interest and expense on indebtedness, excluding capitalized interest |
11,198 | 42,152 | 24,784 | 9,476 | 8,765 | 34,064 | ||||||||||
Interest portion of rentals2 |
21,705 | 29,174 | 13,554 | 14,021 | 9,397 | 7,908 | ||||||||||
Earnings before provision for taxes and fixed charges |
$ | 797,635 | 2,912,601 | 1,242,221 | 1,003,056 | 1,347,598 | 851,918 | |||||||||
Interest and expense on indebtedness, excluding capitalized interest |
11,198 | 42,152 | 24,784 | 9,476 | 8,765 | 34,064 | ||||||||||
Capitalized interest |
26,585 | 31,459 | 49,881 | 43,073 | 38,539 | 22,160 | ||||||||||
Interest portion of rentals2 |
21,705 | 29,174 | 13,554 | 14,021 | 9,397 | 7,908 | ||||||||||
Total fixed charges |
$ | 59,488 | 102,785 | 88,219 | 66,570 | 56,701 | 64,132 | |||||||||
Ratio of earnings to fixed charges |
13.4 | 28.3 | 14.1 | 15.1 | 23.8 | 13.3 |
1 | Prior years reclassified to conform to current presentation. |
2 | Calculated as one-third of rentals. Considered a reasonable approximation of interest factor. |
Ex. 12-1