EX-12.1 2 iep-ex121_123115.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1

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

 
Year Ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
(Loss) income from continuing operations before income taxes, income (loss) from equity investees and non-controlling interests
$
(2,121
)
 
$
(682
)
 
$
2,300

 
$
646

 
$
1,804

Fixed charges
1,203

 
885

 
595

 
607

 
522

Distributed income of equity investees
11

 
25

 
33

 
31

 
16

Total Earnings
$
(907
)
 
$
228

 
$
2,928

 
$
1,284

 
$
2,342

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
1,154

 
$
847

 
$
560

 
$
572

 
$
490

Estimated interest within rental expense
49

 
38

 
35

 
35

 
32

Total Fixed Charges
$
1,203

 
$
885

 
$
595

 
$
607

 
$
522

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
n/a

 
n/a

 
4.9

 
2.1

 
4.5

Dollar shortfall
$
2,110

 
$
657

 
n/a

 
n/a

 
n/a