**EXHIBIT      12.1**

**ICAHN      ENTERPRISES HOLDINGS L.P. AND SUBSIDIARIES**

**RATIO      OF EARNINGS TO FIXED CHARGES**

|                                                                                                                                                                 |   |   |                   Years Ended December 31,  |   |   |       |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------------------------------------------------------|--------|--------|------------|
|                                                                                                                                                                 |   |   | 2007                                                  |   |   | 2006  |   |   | 2005  |   |   | 2004  |   |   | 2003  |   |   |   |
| Earnings:                                                                                                                                                            |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |
| Income                from continuing operations before income taxes, income (loss) from                equity                investees and non-controlling interest |   | $      | 493,158                                                    |   | $      | 999,268    |   | $ | 299,741 |   | $ | 188,783 |   | $ | (21,469 | ) |   |   |
|                                                                                                                                                                 |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |  |   |
| Fixed                Charges                                                                                                                                         |   |   | 149,997                                                    |   |   | 99,116     |   |   | 71,787 |   |   | 27,010 |   |   | 12,786 |   |  |   |
|                                                                                                                                                                 |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |  |   |
| Amortization                of capitalized interest                                                                                                                  |   |   | —                                                    |   |   | —    |   |   | — |   |   | — |   |   | — |   |  |   |
| Total                Earnings                                                                                                                                        |   | $      | 643,155                                                    |   | $      | 1,098,400  |   | $ | 371,528 |   | $ | 215,793 |   | $ | (8,683 | ) |   |   |
|                                                                                                                                                                 |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |  |   |
| Fixed                Charges:                                                                                                                                        |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |  |   |
| Interest                Expense                                                                                                                                      |   | $      | 142,390                                                    |   | $      | 89,261     |   | $ | 66,893 |   | $ | 25,747 |   | $ | 12,664 |   |  |   |
|                                                                                                                                                                 |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |  |   |
| Interest                capitalized                                                                                                                                  |   |   | —                                                    |   |   | —    |   |   | — |   |   | — |   |   | — |   |  |   |
|                                                                                                                                                                 |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |  |   |
| Estimated                interest within rental expense                                                                                                              |   |   | 7,607                                                      |   |   | 9,855      |   |   | 4,894 |   |   | 1,263 |   |   | 122 |   |  |   |
|                                                                                                                                                                 |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |  |   |
| Total                Fixed Charges                                                                                                                                   |   | $      | 149,997                                                    |   | $      | 99,116     |   | $ | 71,787 |   | $ | 27,010 |   | $ | 12,786 |   |  |   |
|                                                                                                                                                                 |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |  |   |
| Ratio                of earnings to fixed charges                                                                                                                    |   |   | 4.3                                                        |   |   | 11.1       |   |   | 5.2 |   |   | 8.0 |   |   | — |   | (1 | ) |
|                                                                                                                                                                 |   |   |                                                       |   |   |       |   |   |   |   |   |   |   |   |   |   |  |   |
| (1)                   Fixed                charges exceeded earnings by $21.5 million in                2003.                                         |

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