A configurable integrated circuit (“IC”) that includes several configurable tiles, each of which has a set of configurable logic circuits and a set of configurable routing circuits for routing signals between configurable logic circuits. The configurable IC provides a set of associated configurable logic circuits for performing a particular portion of a larger arithmetic operation. The configurable IC provides a carry circuit for generating a carry out signal for the particular portion of the larger arithmetic operation. A configurable storage element is for configurably storing the carry out signal and for providing the stored carry out signal to the carry circuit for performing a subsequent portion of the larger arithmetic operation. The configurable IC provides a configurable interconnect/storage element for configurably routing a carry signal from a first carry chain to a second carry chain and for storing the routed carry signal.