EX-12 2 ice20151231ex12.htm EXHIBIT 12 Exhibit


EXHIBIT 12

Intercontinental Exchange, Inc.
Computation of Ratio of Earnings to Fixed Charges

 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
2012
 
2011
 
 
(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
$
1,648

 
$
1,382

 
$
504

 
$
790

 
$
760

 
Add: Fixed charges
97

 
96

 
56

 
39

 
35

 
Less: Income attributable to non-controlling interests
(21
)
 
(35
)
 
(16
)
 
(10
)
 
(12
)
 
Pre-tax earnings before fixed charges
$
1,724

 
$
1,443

 
$
544

 
$
819

 
$
783

 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense on outstanding debt
$
81

 
$
80

 
$
41

 
$
25

 
$
19

 
Interest expense on line of credit
4

 
6

 
3

 
5

 
3

 
Amortization of debt issuance costs
10

 
7

 
8

 
4

 
7

 
Russell license effective interest expense
2

 
3

 
4

 
5

 
6

 
Total fixed charges
$
97

 
$
96

 
$
56

 
$
39

 
$
35

 
Ratio of earnings to fixed charges
17.8

 
15.0

 
9.7

 
21.0

 
22.4