EXHIBIT 12.1
ICAHN ENTERPRISES L.P. AND SUBSIDIARES
RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratio)
Year Ended December 31, | ||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
(Loss) income from continuing operations before income taxes, income (loss) from equity investees and non-controlling interests | $ | (2,248 | ) | $ | (2,121 | ) | $ | (682 | ) | $ | 2,300 | $ | 646 | |||||||
Fixed charges | 958 | 1,203 | 885 | 595 | 607 | |||||||||||||||
Distributed income of equity investees | 77 | 11 | 25 | 33 | 31 | |||||||||||||||
Total Earnings | $ | (1,213 | ) | $ | (907 | ) | $ | 228 | $ | 2,928 | $ | 1,284 | ||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 878 | $ | 1,154 | $ | 847 | $ | 560 | $ | 57 | ||||||||||
Estimated interest within rental expense | 80 | 49 | 38 | 35 | 35 | |||||||||||||||
Total Fixed Charges | $ | 958 | $ | 1,203 | $ | 885 | $ | 595 | $ | 607 | ||||||||||
Ratio of earnings to fixed charges | n/a | n/a | n/a | 4.9 | 2.1 | |||||||||||||||
Dollar shortfall | $ | 2,171 | $ | 2,110 | $ | 657 | n/a | n/a |