Attached files
| file | filename |
|---|---|
| EX-32 - EX-32 - MURPHY OIL CORP | mur-20160930xex32.htm |
| EX-31.2 - EX-31.2 - MURPHY OIL CORP | mur-20160930xex31_2.htm |
| EX-31.1 - EX-31.1 - MURPHY OIL CORP | mur-20160930xex31_1.htm |
| 10-Q - 10-Q - MURPHY OIL CORP | mur-20160930x10q.htm |
Murphy Oil Corporation and Consolidated Subsidiaries
Computation of Ratio of Earnings to Fixed Charges (unaudited)
(Thousands of dollars)
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Nine Months |
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Ended |
Years Ended December 31, |
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September 30, 2016 |
2015 |
2014 |
2013 |
2012 |
2011 |
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Income (loss) from continuing operations before income taxes |
$ |
(413,060) | (3,282,262) | 1,252,270 | 1,472,687 | 1,368,010 | 1,167,875 | |||||
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Distributions greater than equity in earnings of affiliates |
4,481 | 4,104 | 4,962 | 5,204 | 6,648 | 2,622 | ||||||
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Previously capitalized interest charged to |
6,848 | 27,201 | 19,760 | 16,896 | 18,061 | 18,757 | ||||||
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Interest and expense on indebtedness, excluding capitalized interest |
103,889 | 117,375 | 115,819 | 71,900 | 14,932 | 40,700 | ||||||
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Interest portion of rentals(1) |
14,644 | 26,932 | 46,528 | 44,478 | 42,103 | 42,235 | ||||||
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Earnings (loss) before provision for taxes |
$ |
(283,198) | (3,106,650) | 1,439,339 | 1,611,165 | 1,449,754 | 1,272,189 | |||||
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Interest and expense on indebtedness, |
103,889 | 117,375 | 115,819 | 71,900 | 14,932 | 40,700 | ||||||
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Capitalized interest |
3,318 | 7,290 | 20,605 | 52,523 | 39,173 | 15,131 | ||||||
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Interest portion of rentals(1) |
14,644 | 26,932 | 46,528 | 44,478 | 42,103 | 42,235 | ||||||
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Total fixed charges |
$ |
121,851 | 151,597 | 182,952 | 168,901 | 96,208 | 98,066 | |||||
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Ratio of earnings to fixed charges |
– |
(2) |
– |
(2) |
7.9 | 9.5 | 15.1 | 13.0 | ||||
(1)Calculated as one-third of rentals. Considered a reasonable approximation of interest factor.
(2)Earnings for the nine-month period ended September 30, 2016 and the year ended December 31, 2015 were inadequate to cover fixed charges by $405,049 and $3,258,247, respectively.
Ex. 12-1