Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

difference in book basis and tax basis of net assets not subject to income taxes [Table Text Block]

The difference between the book basis and the tax basis of our net assets, not directly subject to income taxes, is as follows:



	Icahn Enterprises						Icahn Enterprises Holdings
	December 31,						December 31,
	2014			2013			2014			2013
	(in millions)						(in millions)
Book basis of net assets	$	5,443		$	6,092		$	5,446		$	6,114
Book/tax basis difference	(1,566		)	(2,248		)	(1,545		)	(2,248		)
Tax basis of net assets	$	3,877		$	3,844		$	3,901		$	3,866

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Our corporate subsidiaries recorded the following income tax benefit (expense) attributable to continuing operations for our taxable subsidiaries:



	Year Ended December 31,
	2014			2013			2012
	(in millions)
Current:
Domestic	$	(45	)	$	22		$	(104	)
International	(35		)	(61		)	(53		)
Total current	(80		)	(39		)	(157		)
Deferred:
Domestic	201			146			191
International	(18		)	11			47
Total deferred	183			157			238
	$	103		$	118		$	81

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effect of significant differences representing deferred tax assets (liabilities) (the difference between financial statement carrying value and the tax basis of assets and liabilities) is as follows:



	December 31,
	2014			2013
	(in millions)
Deferred tax assets:
Property, plant and equipment	$	144		$	141
Net operating loss	1,348			1,137
Tax credits	149			166
Post-employment benefits, including pensions	388			303
Reorganization costs	11			27
Other	231			242
Total deferred tax assets	2,271			2,016
Less: Valuation allowance	(1,059		)	(1,216		)
Net deferred tax assets	$	1,212		$	800

Deferred tax liabilities:
Property, plant and equipment	$	(239	)	$	(216	)
Intangible assets	(177		)	(187		)
Investment in partnerships	(1,349		)	(1,242		)
Investment in U.S. subsidiaries	(307		)	(307		)
Other	(6		)	(13		)
Total deferred tax liabilities	(2,078		)	(1,965		)
	$	(866	)	$	(1,165	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the effective tax rate on continuing operations as shown in the consolidated statements of operations to the federal statutory rate is as follows:



	Year Ended December 31,
	2014		2013		2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
Foreign operations	6.7		1.3		0.7
Valuation allowance	21.5		(15.4	)	14.8
Non-controlling interest	7.5		(2.3	)	(1.1	)
Goodwill	(5.7	)	0.2		0.5
Gain on settlement of liabilities subject to compromise	4.9		—		(51.7	)
Income not subject to taxation	(47.2	)	(25.4	)	(12.6	)
Other	(6.4	)	1.5		2.5
	16.3	%	(5.1	)%	(11.9	)%

Schedule of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns Roll Forward [Table Text Block]

A summary of the changes in the gross amounts of unrecognized tax benefits for the fiscal years ended December 31, 2014, 2013 and 2012 are as follows:



	Years Ended December 31,
	2014			2013			2012
	(in millions)
Balance at January 1	$	132		$	113		$	388
Addition based on tax positions related to the current year	18			23			23
Acquisition of CVR	—			—			18
Increase for tax positions of prior years	10			6			15
Decrease for tax positions of prior years	(14		)	(9		)	(15		)
Decrease for statute of limitation expiration	(3		)	(1		)	(14		)
Settlements	(25		)	1			(301		)
Impact of currency translation and other	(5		)	(1		)	(1		)
Balance at December 31	$	113		$	132		$	113