EX-12.1 2 iep-ex121_123111.htm RATIO OF EARNINGS TO FIXED CHARGES IEP-Ex12.1_12.31.11


EXHIBIT 12.1

ICAHN ENTERPRISES L.P. AND SUBSIDIARES
RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio)

 
Year Ended December 31,
 
2011
 
2010
 
2009
 
2008
 
2007
Earnings:
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes, income (loss) from equity investees and non-controlling interests
$
1,768

 
$
728

 
$
1,154

 
$
(3,084
)
 
$
544

Fixed charges
467

 
415

 
346

 
381

 
193

Distributed income of equity investees
16

 
43

 
7

 
28

 
—

Total Earnings
$
2,251

 
$
1,186

 
$
1,507

 
$
(2,675
)
 
$
737

 
 
 
 
 
 

 
 

 
 

Fixed Charges:
 
 
 
 
 

 
 

 
 

Interest expense
$
436

 
$
389

 
$
319

 
$
358

 
$
184

Estimated interest within rental expense
31

 
26

 
27

 
23

 
9

Total Fixed Charges
$
467

 
$
415

 
$
346

 
$
381

 
$
193

 
 
 
 
 
 

 
 

 
 

Ratio of earnings to fixed charges
4.8

 
2.9

 
4.4

 
n/a

 
3.8

Dollar shortfall
n/a

 
n/a

 
n/a

 
$
3,056

 
n/a