EXHIBIT 12.1
Intercontinental Exchange, Inc.
Computation of Ratio of Earnings to Fixed Charges
Six Months Ended June 30, 2017 | Year Ended December 31, | |||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||||||
(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 | $ | 1,275 | $ | 2,004 | $ | 1,647 | $ | 1,382 | $ | 504 | $ | 790 | ||||||||||||
Add: Fixed charges | 90 | 178 | 97 | 96 | 56 | 39 | ||||||||||||||||||
Add: Distributed income of equity investees | — | 10 | 8 | — | — | — | ||||||||||||||||||
Less: Income attributable to non-controlling interests | (16 | ) | (27 | ) | (21 | ) | (35 | ) | (16 | ) | (10 | ) | ||||||||||||
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Pre-tax earnings before fixed charges | $ | 1,349 | $ | 2,165 | $ | 1,731 | $ | 1,443 | $ | 544 | $ | 819 | ||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Interest expense on outstanding debt | $ | 80 | $ | 157 | $ | 81 | $ | 80 | $ | 40 | $ | 25 | ||||||||||||
Interest expense on line of credit | 2 | 5 | 4 | 6 | 3 | 5 | ||||||||||||||||||
Amortization of debt issuance costs | 5 | 10 | 7 | 7 | 8 | 4 | ||||||||||||||||||
Other | 3 | 6 | 5 | 3 | 5 | 5 | ||||||||||||||||||
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Total fixed charges | $ | 90 | $ | 178 | $ | 97 | $ | 96 | $ | 56 | $ | 39 | ||||||||||||
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Ratio of earnings to fixed charges | 15.0x | 12.2x | 17.8x | 15.0x | 9.7x | 21.0x | ||||||||||||||||||
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