EX-12.1 3 v462387_ex12-1.htm EXHIBIT 12.1

EXHIBIT 12.1

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

		Year Ended December 31,
		2016				2015				2014				2013				2012
Earnings:
(Loss) income from continuing operations before income taxes, income (loss) from equity investees and non-controlling interests		$	(2,248	)		$	(2,121	)		$	(682	)		$	2,300			$	646
Fixed charges			958				1,203				885				595				607
Distributed income of equity investees			77				11				25				33				31
Total Earnings		$	(1,213	)		$	(907	)		$	228			$	2,928			$	1,284
Fixed Charges:
Interest expense		$	878			$	1,154			$	847			$	560			$	57
Estimated interest within rental expense			80				49				38				35				35
Total Fixed Charges		$	958			$	1,203			$	885			$	595			$	607
Ratio of earnings to fixed charges			n/a				n/a				n/a				4.9				2.1
Dollar shortfall		$	2,171			$	2,110			$	657				n/a				n/a