Exhibit 12.1
ICAHN ENTERPRISES L.P. AND SUBSIDIARES
RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio)
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes, income (loss) from equity investees and non-controlling interests | $ | 2,451 | $ | (2,248 | ) | $ | (2,121 | ) | $ | (682 | ) | $ | 2,300 | $ | 646 | |||||||||
Fixed charges | 713 | 958 | 1,203 | 885 | 595 | 607 | ||||||||||||||||||
Distributed income of equity investees | 36 | 77 | 11 | 25 | 33 | 31 | ||||||||||||||||||
Total Earnings | $ | 3,200 | $ | (1,213 | ) | $ | (907 | ) | $ | 228 | $ | 2,928 | $ | 1,284 | ||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 648 | $ | 878 | $ | 1,154 | $ | 847 | $ | 560 | $ | 572 | ||||||||||||
Estimated interest within rental expense | 65 | 80 | 49 | 38 | 35 | 35 | ||||||||||||||||||
Total Fixed Charges | $ | 713 | $ | 958 | $ | 1,203 | $ | 885 | $ | 595 | $ | 607 | ||||||||||||
Ratio of earnings to fixed charges | 4.5 | n/a | n/a | n/a | 4.9 | 2.1 | ||||||||||||||||||
Dollar shortfall | n/a | $ | 2,171 | $ | 2,110 | $ | 657 | n/a | n/a |