EXHIBIT 12.1
ICAHN ENTERPRISES L.P. AND SUBSIDIARES
RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio)
| Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||
| 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Income (loss) from continuing operations before income taxes, income (loss) from equity method investees and non-controlling interests | $ | 807 | $ | 611 | $ | 1,768 | $ | 728 | $ | 1,154 | $ | (3,084 | ) | |||||||||||
| Fixed charges | 143 | 556 | 467 | 415 | 346 | 381 | ||||||||||||||||||
| Distributed income of equity investees | - | 31 | 16 | 43 | 7 | 28 | ||||||||||||||||||
| Total Earnings | $ | 950 | $ | 1,198 | $ | 2,251 | $ | 1,186 | $ | 1,507 | $ | (2,675 | ) | |||||||||||
| Fixed Charges: | ||||||||||||||||||||||||
| Interest expensed and capitalized | $ | 134 | $ | 522 | $ | 436 | $ | 389 | $ | 319 | $ | 358 | ||||||||||||
| Estimated interest within rental expense | 9 | 34 | 31 | 26 | 27 | 23 | ||||||||||||||||||
| Total Fixed Charges | $ | 143 | $ | 556 | $ | 467 | $ | 415 | $ | 346 | $ | 381 | ||||||||||||
| Ratio of earnings to fixed charges | 6.6 | 2.2 | 4.8 | 2.9 | 4.4 | n/a | ||||||||||||||||||
| Dollar shortfall | n/a | n/a | n/a | n/a | n/a | $ | 3,056 | |||||||||||||||||
