EX-12 2 ice20141231ex12.htm EXHIBIT 12 ICE 2014.12.31 EX 12


EXHIBIT 12

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

 
Year Ended December 31,
 
 
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
$
1,382

 
$
504

 
$
790

 
$
760

 
$
609

 
Add: Fixed charges
96

 
56

 
39

 
35

 
31

 
Less: Income attributable to non-controlling interests
(35
)
 
(16
)
 
(10
)
 
(12
)
 
(9
)
 
Pre-tax earnings before fixed charges
$
1,443

 
$
544

 
$
819

 
$
783

 
$
631

 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
Interest expense on outstanding debt
$
80

 
$
41

 
$
25

 
$
19

 
$
17

 
Interest expense on line of credit
6

 
3

 
5

 
3

 
3

 
Amortization of debt issuance costs
7

 
8

 
4

 
7

 
6

 
Russell license effective interest expense
3

 
4

 
5

 
6

 
5

 
Total fixed charges
$
96

 
$
56

 
$
39

 
$
35

 
$
31

 
Ratio of earnings to fixed charges
15.0

 
9.7

 
21.0

 
22.4

 
20.4