Shareholders' Equity

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Shareholders' Equity

13. Shareholders’ Equity

Common Stock

Common Stock Outstanding

The Company has authorized 175,000,000 shares ($0.01 par value) of Class A Voting Common Stock (“Class A Common Stock”) at September 30, 2022 and December 31, 2021. The Company has authorized 25,000,000 shares ($0.01 par value) of Class B Non-Voting Common Stock (“Class B Common Stock”) at September 30, 2022 and December 31, 2021.

Total common stock outstanding and changes in common stock issued are as follows:

	Class A Common Stock		Class B Common Stock
	Nine Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Shares issued at beginning of period	96,713,188	75,714,163	—	20,308,454
Issued pursuant to benefit plans	1,799,929	942,957	—	—
Withheld for taxes pursuant to benefit plans	(427,901)	(302,066)	—	—
Class B common stock converted to Class A common stock	—	20,308,454	—	(20,308,454)
Shares issued at end of period	98,085,216	96,663,508	—	—
Treasury stock	14,592,888	14,592,888	—	—
Total shares outstanding	83,492,328	82,070,620	—	—

Class B Common Stock Conversion

During the nine months ended September 30, 2021, Icahn Enterprises L.P. (“IEP”) and its affiliates converted all of its remaining 20,308,454 shares of the Company’s Class B Common Stock into 20,308,454 shares of Class A Common Stock.

Preferred Stock

The Company had 50,000,000 shares of preferred stock ($0.01 par value) authorized at September 30, 2022 and December 31, 2021. No shares of preferred stock were issued or outstanding at those dates.

Accumulated Other Comprehensive Income (Loss)

The following represents the Company’s changes in accumulated other comprehensive income (loss) by component:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Foreign currency translation adjustments:
Balance at beginning of period	$	(656)	$	(383)	$	(471)	$	(395)
Other comprehensive income (loss) before reclassifications adjustments	(213)		(74)		(398)		(62)
Balance at end of period	(869)		(457)		(869)		(457)
Defined benefit plans:
Balance at beginning of period	(126)		(347)		(126)		(353)
Reclassification from other comprehensive income (loss)	—		3		—		10
Income tax benefit (provision)	—		—		—		(1)
Balance at end of period	(126)		(344)		(126)		(344)
Cash flow hedges:
Balance at beginning of period	(8)		1		2		4
Other comprehensive income (loss) before reclassifications	(6)		—		(13)		1
Reclassification from other comprehensive income (loss)	2		(1)		(2)		(5)
Income tax benefit (provision)	—		—		1		—
Balance at end of period	(12)		—		(12)		—
Accumulated other comprehensive loss at end of period	$	(1,007)	$	(801)	$	(1,007)	$	(801)
Other comprehensive income (loss) attributable to noncontrolling interests, net of tax	$	(25)	$	(5)	$	(50)	$	(7)