Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2015

Segment Reporting Information [Line Items]

Condensed statements of operations by reporting segment

Icahn Enterprises' condensed statements of operations by reporting segment for the three and six months ended June 30, 2015 and 2014 are presented below:



	Three Months Ended June 30, 2015
	Investment			Automotive			Energy			Metals			Railcar			Gaming			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	2,016		$	1,624		$	103		$	86		$	—		$	6		$	91		$	1	$	52		$	—		$	3,979
Other revenues from operations	—			—			—			—			124			203			—			—			20		—			—			347
Net income from investment activities	609			—			1			—			—			—			—			—			—		—			(18		)	592
Interest and dividend income	44			2			—			—			—			—			—			—			—		—			1			47
Other income (loss), net	—			26			(13		)	3			2			—			(1		)	—			2		—			—			19
	653			2,044			1,612			106			212			203			5			91			23		52			(17		)	4,984
Expenses:
Cost of goods sold	—			1,706			1,332			110			57			—			6			67			1		45			—			3,324
Other expenses from operations	—			—			—			—			52			97			—			—			12		—			—			161
Selling, general and administrative	130			236			33			5			8			87			2			11			2		8			6			528
Restructuring	—			27			—			—			—			—			—			—			—		—			—			27
Impairment	—			3			—			—			—			—			—			—			—		—			—			3
Interest expense	141			34			12			—			21			3			1			3			—		—			72			287
	271			2,006			1,377			115			138			187			9			81			15		53			78			4,330
Income (loss) before income tax (expense) benefit	382			38			235			(9		)	74			16			(4		)	10			8		(1		)	(95		)	654
Income tax (expense) benefit	—			(8		)	(52		)	4			(18		)	(7		)	(2		)	(4		)	—		—			(26		)	(113		)
Net income (loss)	382			30			183			(5		)	56			9			(6		)	6			8		(1		)	(121		)	541
Less: net (income) loss attributable to non-controlling interests	(206		)	(5		)	(95		)	—			(20		)	(3		)	2			(2		)	—		—			—			(329		)
Net income (loss) attributable to Icahn Enterprises	$	176		$	25		$	88		$	(5	)	$	36		$	6		$	(4	)	$	4		$	8	$	(1	)	$	(121	)	$	212

Supplemental information:
Capital expenditures	$	—		$	109		$	41		$	4		$	168		$	35		$	2		$	5		$	1	$	1		$	—		$	366
Depreciation and amortization⁽¹⁾	$	—		$	85		$	58		$	7		$	32		$	14		$	1		$	4		$	6	$	2		$	—		$	209



	Three Months Ended June 30, 2014
	Investment			Automotive			Energy			Metals			Railcar			Gaming			Mining		Food Packaging			Real Estate		Home Fashion		Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	1,872		$	2,541		$	188		$	122		$	—		$	—	$	93		$	5	$	46	$	—		$	4,867
Other revenues from operations	—			—			—			—			101			202			—		—			20		—		—			323
Net gain (loss) from investment activities	1,159			—			(3		)	—			—			—			—		—			—		—		(24		)	1,132
Interest and dividend income	41			1			1			—			—			—			—		—			—		—		1			44
Other income (loss), net	1			(28		)	36			(1		)	2			1			—		—			1		—		1			13
	1,201			1,845			2,575			187			225			203			—		93			26		46		(22		)	6,379
Expenses:
Cost of goods sold	—			1,574			2,358			191			94			—			—		69			3		38		—			4,327
Other expenses from operations	—			—			—			—			44			106			—		—			13		—		—			163
Selling, general and administrative	88			207			35			6			10			85			—		11			3		8		3			456
Restructuring	—			30			—			—			—			—			—		—			—		—		—			30
Impairment	—			1			—			—			—			—			—		—			—		—		—			1
Interest expense	63			32			8			—			15			3			—		3			1		—		72			197
	151			1,844			2,401			197			163			194			—		83			20		46		75			5,174
Income (loss) before income tax (expense) benefit	1,050			1			174			(10		)	62			9			—		10			6		—		(97		)	1,205
Income tax (expense) benefit	—			(12		)	(39		)	5			(15		)	(3		)	—		(4		)	—		—		(14		)	(82		)
Net income (loss)	1,050			(11		)	135			(5		)	47			6			—		6			6		—		(111		)	1,123
Less: net (income) loss attributable to non-controlling interests	(549		)	(1		)	(63		)	—			(17		)	(2		)	—		(2		)	—		—		—			(634		)
Net income (loss) attributable to Icahn Enterprises	$	501		$	(12	)	$	72		$	(5	)	$	30		$	4		$	—	$	4		$	6	$	—	$	(111	)	$	489

Supplemental information:
Capital expenditures	$	—		$	77		$	53		$	3		$	148		$	17		$	—	$	5		$	1	$	1	$	—		$	305
Depreciation and amortization⁽¹⁾	$	—		$	83		$	55		$	6		$	25		$	13		$	—	$	6		$	5	$	2	$	—		$	195



	Six Months Ended June 30, 2015
	Investment			Automotive			Energy			Metals			Railcar			Gaming			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	3,851		$	3,013		$	209		$	189		$	—		$	6		$	176		$	1	$	99		$	—		$	7,544
Other revenues from operations	—			—			—			—			241			396			—			—			39		—			—			676
Net income from investment activities	1,179			—			36			—			—			—			—			—			—		—			(32		)	1,183
Interest and dividend income	93			3			1			—			1			—			—			—			—		—			2			100
Other income (loss), net	—			35			(64		)	3			2			(1		)	(1		)	(3		)	21		—			—			(8		)
	1,272			3,889			2,986			212			433			395			5			173			61		99			(30		)	9,495
Expenses:
Cost of goods sold	—			3,290			2,569			226			139			—			6			133			1		85			—			6,449
Other expenses from operations	—			—			—			—			100			193			—			—			23		—			—			316
Selling, general and administrative	230			453			65			10			19			169			2			23			5		16			13			1,005
Restructuring	—			39			—			—			—			—			—			—			—		—			—			39
Impairment	—			4			—			—			—			—			—			—			—		—			—			4
Interest expense	264			70			24			—			41			6			1			6			1		—			144			557
	494			3,856			2,658			236			299			368			9			162			30		101			157			8,370
Income (loss) before income tax (expense) benefit	778			33			328			(24		)	134			27			(4		)	11			31		(2		)	(187		)	1,125
Income tax (expense) benefit	—			(23		)	(70		)	10			(34		)	(11		)	(2		)	(5		)	—		—			(27		)	(162		)
Net income (loss)	778			10			258			(14		)	100			16			(6		)	6			31		(2		)	(214		)	963
Less: net (income) loss attributable to non-controlling interests	(418		)	(3		)	(127		)	—			(37		)	(5		)	2			(2		)	—		—			—			(590		)
Net income (loss) attributable to Icahn Enterprises	$	360		$	7		$	131		$	(14	)	$	63		$	11		$	(4	)	$	4		$	31	$	(2	)	$	(214	)	$	373

Supplemental information:
Capital expenditures	$	—		$	217		$	87		$	19		$	330		$	61		$	2		$	9		$	1	$	3		$	—		$	729
Depreciation and amortization⁽¹⁾	$	—		$	168		$	116		$	14		$	61		$	29		$	1		$	9		$	11	$	4		$	—		$	413



	Six Months Ended June 30, 2014
	Investment			Automotive			Energy			Metals			Railcar			Gaming			Mining		Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	3,651		$	4,988		$	377		$	240		$	—		$	—	$	181		$	8	$	88		$	—		$	9,533
Other revenues from operations	—			—			—			—			194			351			—		—			39		—			—			584
Net gain (loss) from investment activities	1,149			—			(3		)	—			—			—			—		—			—		—			(45		)	1,101
Interest and dividend income	96			2			1			—			1			1			—		—			—		—			2			103
Other income (loss), net	2			(19		)	145			—			(3		)	38			—		(15		)	3		1			(104		)	48
	1,247			3,634			5,131			377			432			390			—		166			50		89			(147		)	11,369
Expenses:
Cost of goods sold	—			3,080			4,605			383			187			—			—		135			4		75			—			8,469
Other expenses from operations	—			—			—			—			87			180			—		—			25		—			—			292
Selling, general and administrative	110			400			67			12			22			152			—		22			6		15			10			816
Restructuring	—			38			—			—			—			—			—		—			—		—			—			38
Impairment	—			2			—			—			—			—			—		—			—		—			—			2
Interest expense	102			57			18			—			27			6			—		8			2		—			147			367
	212			3,577			4,690			395			323			338			—		165			37		90			157			9,984
Income (loss) before income tax (expense) benefit	1,035			57			441			(18		)	109			52			—		1			13		(1		)	(304		)	1,385
Income tax (expense) benefit	—			(28		)	(102		)	8			(26		)	(13		)	—		(1		)	—		—			(23		)	(185		)
Net income (loss)	1,035			29			339			(10		)	83			39			—		—			13		(1		)	(327		)	1,200
Less: net (income) loss attributable to non-controlling interests	(529		)	(10		)	(157		)	—			(32		)	(12		)	—		—			—		—			—			(740		)
Net income (loss) attributable to Icahn Enterprises	$	506		$	19		$	182		$	(10	)	$	51		$	27		$	—	$	—		$	13	$	(1	)	$	(327	)	$	460

Supplemental information:
Capital expenditures	$	—		$	173		$	115		$	7		$	250		$	29		$	—	$	10		$	1	$	2		$	—		$	587
Depreciation and amortization⁽¹⁾	$	—		$	163		$	108		$	12		$	51		$	22		$	—	$	11		$	11	$	4		$	—		$	382


⁽¹⁾	Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense in the amounts of $3 million and $3 million for the three months ended June 30, 2015 and 2014, respectively, and $6 million and $13 million for the six months ended June 30, 2015 and 2014, respectively.

Condensed balance sheets by reporting segment

Icahn Enterprises' condensed balance sheets by reporting segment as of June 30, 2015 and December 31, 2014 are presented below:



	June 30, 2015
	Investment		Automotive		Energy		Metals		Railcar			Gaming		Mining		Food Packaging		Real Estate		Home Fashion		Holding Company			Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	10	$	252	$	938	$	7	$	432		$	185	$	47	$	37	$	17	$	7	$	222		$	2,154
Cash held at consolidated affiliated partnerships and restricted cash	1,663		—		—		4		45			14		5		1		30		5		3			1,770
Investments	13,952		275		—		—		31			36		—		—		—		—		172			14,466
Accounts receivable, net	—		1,631		180		46		41			11		6		66		3		43		—			2,027
Inventories, net	—		1,628		349		61		117			—		37		79		—		68		—			2,339
Property, plant and equipment, net	—		2,326		2,670		147		2,643			742		294		150		618		73		3			9,666
Goodwill and intangible assets, net	—		1,897		1,174		7		7			75		—		9		53		3		—			3,225
Other assets	479		469		121		27		98			209		28		90		19		9		82			1,631
Total assets	$	16,104	$	8,478	$	5,432	$	299	$	3,414		$	1,272	$	417	$	432	$	740	$	208	$	482		$	37,278
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,119	$	2,150	$	1,420	$	54	$	298		$	125	$	60	$	62	$	18	$	29	$	117		$	5,452
Securities sold, not yet purchased, at fair value	977		—		—		—		—			—		—		—		—		—		—			977
Due to brokers	3,922		—		—		—		—			—		—		—		—		—		—			3,922
Post-employment benefit liability	—		1,306		—		2		8			—		—		49		—		—		—			1,365
Debt	—		2,925		674		1		2,391			294		45		272		30		—		5,488			12,120
Total liabilities	6,018		6,381		2,094		57		2,697			419		105		383		48		29		5,605			23,836

Equity attributable to Icahn Enterprises	4,646		1,729		1,731		242		728			590		241		32		692		179		(5,123		)	5,687
Equity attributable to non-controlling interests	5,440		368		1,607		—		(11		)	263		71		17		—		—		—			7,755
Total equity	10,086		2,097		3,338		242		717			853		312		49		692		179		(5,123		)	13,442
Total liabilities and equity	$	16,104	$	8,478	$	5,432	$	299	$	3,414		$	1,272	$	417	$	432	$	740	$	208	$	482		$	37,278



	December 31, 2014
	Investment		Automotive		Energy		Metals		Railcar			Gaming		Mining		Food Packaging		Real Estate		Home Fashion		Holding Company			Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	2	$	332	$	754	$	19	$	412		$	196	$	—	$	39	$	24	$	11	$	1,123		$	2,912
Cash held at consolidated affiliated partnerships and restricted cash	1,366		—		—		4		35			16		—		1		2		8		3			1,435
Investments	13,961		269		77		—		29			33		—		—		—		—		131			14,500
Accounts receivable, net	—		1,356		137		51		41			9		—		63		4		30		—			1,691
Inventories, net	—		1,215		330		67		117			—		—		77		—		73		—			1,879
Property, plant and equipment, net	—		2,160		2,692		144		2,376			719		—		154		633		74		3			8,955
Goodwill and intangible assets, net	—		1,744		1,184		8		7			75		—		9		58		3		—			3,088
Other assets	131		453		160		22		103			212		—		93		24		9		113			1,320
Total assets	$	15,460	$	7,529	$	5,334	$	315	$	3,120		$	1,260	$	—	$	436	$	745	$	208	$	1,373		$	35,780
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	864	$	1,933	$	1,471	$	60	$	294		$	130	$	—	$	64	$	20	$	28	$	13		$	4,877
Securities sold, not yet purchased, at fair value	337		—		—		—		—			—		—		—		—		—		—			337
Due to brokers	5,197		—		—		—		—			—		—		—		—		—		—			5,197
Post-employment benefit liability	—		1,328		—		2		9			—		—		52		—		—		—			1,391
Debt	—		2,690		675		3		2,133			295		—		274		32		—		5,486			11,588
Total liabilities	6,398		5,951		2,146		65		2,436			425		—		390		52		28		5,499			23,390

Equity attributable to Icahn Enterprises	4,284		1,231		1,612		250		711			578		—		30		693		180		(4,126		)	5,443
Equity attributable to non-controlling interests	4,778		347		1,576		—		(27		)	257		—		16		—		—		—			6,947
Total equity	9,062		1,578		3,188		250		684			835		—		46		693		180		(4,126		)	12,390
Total liabilities and equity	$	15,460	$	7,529	$	5,334	$	315	$	3,120		$	1,260	$	—	$	436	$	745	$	208	$	1,373		$	35,780

Icahn Enterprises Holdings [Member]

Segment Reporting Information [Line Items]

Segment information

Icahn Enterprises Holdings

Due to the structure of our business, the consolidated results of operations for Icahn Enterprises and Icahn Enterprises Holdings are substantially the same. Differences relate to deferred financing costs which are only reflected in the results of operations for the Holding Company. See Note 10, "Debt," for additional information. Segment information for Icahn Enterprises Holdings is presented below for significant financial statement line items affected by these differences.



	Three Months Ended June 30,																June 30,		December 31,
	2015								2014								2015		2014
	Interest Expense		Net Income (Loss)			Net Income (Loss) Attributable to Icahn Enterprises Holdings			Interest Expense		Net Income (Loss)			Net Income (Loss) Attributable to Icahn Enterprises Holdings			Total Assets		Total Assets
	(in millions)																(in millions)
Investment	$	141	$	382		$	176		$	63	$	1,050		$	501		$	16,104	$	15,460
Automotive	34		30			25			32		(11		)	(12		)	8,478		7,529
Energy	12		183			88			8		135			72			5,432		5,334
Metals	—		(5		)	(5		)	—		(5		)	(5		)	299		315
Railcar	21		56			36			15		47			30			3,414		3,120
Gaming	3		9			6			3		6			4			1,272		1,260
Mining	1		(6		)	(4		)	—		—			—			417		—
Food Packaging	3		6			4			3		6			4			432		436
Real Estate	—		8			8			1		6			6			740		745
Home Fashion	—		(1		)	(1		)	—		—			—			208		208
Holding Company	71		(120		)	(120		)	71		(110		)	(110		)	506		1,396
Consolidated	$	286	$	542		$	213		$	196	$	1,124		$	490		$	37,302	$	35,803



	Six Months Ended June 30,
	2015								2014
	Interest Expense		Net Income (Loss)			Net Income (Loss) Attributable to Icahn Enterprises Holdings			Interest Expense		Net Income (Loss)			Net Income (Loss) Attributable to Icahn Enterprises Holdings
	(in millions)
Investment	$	264	$	778		$	360		$	102	$	1,035		$	506
Automotive	70		10			7			57		29			19
Energy	24		258			131			18		339			182
Metals	—		(14		)	(14		)	—		(10		)	(10		)
Railcar	41		100			63			27		83			51
Gaming	6		16			11			6		39			27
Mining	1		(6		)	(4		)	—		—			—
Food Packaging	6		6			4			8		—			—
Real Estate	1		31			31			2		13			13
Home Fashion	—		(2		)	(2		)	—		(1		)	(1		)
Holding Company	143		(213		)	(213		)	146		(326		)	(326		)
Consolidated	$	556	$	964		$	374		$	366	$	1,201		$	461