Exhibit 12.1
Intercontinental Exchange, Inc.
Computation of Ratio of Earnings to Fixed Charges
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Six Months Ended June 30, | | Year Ended December 31, |
| | 2015 | | 2014 | | 2014 | | 2013 | | 2012 | | 2011 | | 2010 |
| | (in millions, except ratio) |
| Determination of earnings: | | | | | | | | | | | | | |
| Pre-tax income from continuing operations before income from equity investee, income tax expense and non-controlling interest | $ | 835 |
| | $ | 682 |
| | $ | 1,382 |
| | $ | 504 |
| | $ | 790 |
| | $ | 760 |
| | $ | 609 |
|
| Add: Fixed charges | 46 |
| | 51 |
| | 96 |
| | 56 |
| | 39 |
| | 35 |
| | 31 |
|
| Less: Income attributable to non-controlling interests | (14 | ) | | (22 | ) | | (35 | ) | | (16 | ) | | (10 | ) | | (12 | ) | | (9 | ) |
| Pre-tax earnings before fixed charges | $ | 867 |
| | $ | 711 |
| | $ | 1,443 |
| | $ | 544 |
| | $ | 819 |
| | $ | 783 |
| | $ | 631 |
|
| Fixed charges: | | | | | | | | | | | | | |
| Interest expense on outstanding debt | $ | 38 |
| | $ | 42 |
| | $ | 80 |
| | $ | 41 |
| | $ | 25 |
| | $ | 19 |
| | $ | 17 |
|
| Interest expense on line of credit | 2 |
| | 3 |
| | 6 |
| | 3 |
| | 5 |
| | 3 |
| | 3 |
|
| Amortization of debt issuance costs | 4 |
| | 4 |
| | 7 |
| | 8 |
| | 4 |
| | 7 |
| | 6 |
|
| Russell license effective interest expense | 2 |
| | 2 |
| | 3 |
| | 4 |
| | 5 |
| | 6 |
| | 5 |
|
| Total fixed charges | $ | 46 |
| | $ | 51 |
| | $ | 96 |
| | $ | 56 |
| | $ | 39 |
| | $ | 35 |
| | $ | 31 |
|
| Ratio of earnings to fixed charges | 18.8 |
| | 13.9 |
| | 15.0 |
| | 9.7 |
| | 21.0 |
| | 22.4 |
| | 20.4 |
|
