Sunoco 2013 Annual Report Download - page 308

Exhibit 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(UNAUDITED)
Successor
Year Ended December
31, 2013
(in millions)
Fixed Charges:
Interest cost and debt expense $ 98
Interest allocable to rental expense (1) 4
Total $ 102
Earnings:
Income before income tax expense (2) $ 504
Income before income tax expense attributable to noncontrolling interests (16)
Equity in income of 50 percent or less owned affiliated companies (21)
Dividends received from 50 percent or less owned affiliated companies (3) 14
Fixed charges 102
Interest capitalized (21)
Amortization of previously capitalized interest 1
Total $ 563
Ratio of Earnings to Fixed Charges 5.5
(1) Represents one-third of the total operating lease rental expense which is that portion deemed to be interest.
(2) Represents income before income tax expense for all consolidated entities, including Inland Corporation, Mid-Valley
Pipeline Company and West Texas Gulf Pipe Line Company.
(3) Represents dividends received from equity-method investments, which excludes dividends from Inland Corporation, Mid-
Valley Pipeline Company and West Texas Gulf Pipe Line Company.