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 |