EXHIBIT 12.1
ICAHN ENTERPRISES L.P. AND SUBSIDIARES
RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio)
Six Months Ended | Year Ended December 31, | |||||||||||||||||||||||
June 30, 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
(Loss) income from continuing operations before income taxes, income (loss) from equity investees and non-controlling interests | $ | (1,864 | ) | $ | (2,121 | ) | $ | (682 | ) | $ | 2,300 | $ | 646 | $ | 1,804 | |||||||||
Fixed charges | 486 | 1,203 | 885 | 595 | 607 | 522 | ||||||||||||||||||
Distributed income of equity investees | 65 | 11 | 25 | 33 | 31 | 16 | ||||||||||||||||||
Total Earnings | $ | (1,313 | ) | $ | (907 | ) | $ | 228 | $ | 2,928 | $ | 1,284 | $ | 2,342 | ||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 443 | $ | 1,154 | $ | 847 | $ | 560 | $ | 572 | $ | 490 | ||||||||||||
Estimated interest within rental expense | 43 | 49 | 38 | 35 | 35 | 32 | ||||||||||||||||||
Total Fixed Charges | $ | 486 | $ | 1,203 | $ | 885 | $ | 595 | $ | 607 | $ | 522 | ||||||||||||
Ratio of earnings to fixed charges | n/a | n/a | n/a | 4.9 | 2.1 | 4.5 | ||||||||||||||||||
Dollar shortfall | $ | 1,799 | $ | 2,110 | $ | 657 | n/a | n/a | n/a |