Segment Reporting (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2015 and 2014 are presented below:



	Three Months Ended September 30, 2015
	Investment			Automotive			Energy			Metals			Railcar			Gaming			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	1,980		$	1,409		$	92		$	92		$	—		$	12		$	86		$	1	$	48		$	—		$	3,720
Other revenues from operations	—			—			—			—			126			219			—			—			21		—			—			366
Net (loss) income from investment activities	(948		)	—			—			—			—			—			—			—			—		—			1			(947		)
Interest and dividend income	32			1			—			—			1			1			1			—			—		—			—			36
Other (loss) income, net	(1		)	6			13			—			3			—			(2		)	(5		)	20		1			2			37
	(917		)	1,987			1,422			92			222			220			11			81			42		49			3			3,212
Expenses:
Cost of goods sold	—			1,660			1,270			102			69			—			14			68			—		41			—			3,224
Other expenses from operations	—			—			—			—			51			104			—			—			13		—			—			168
Selling, general and administrative	(24		)	269			34			5			12			84			5			14			4		9			6			418
Restructuring	—			18			—			—			—			—			—			—			—		—			—			18
Impairment	—			6			—			—			—			—			—			—			—		—			—			6
Interest expense	148			37			12			—			20			3			—			3			1		—			72			296
	124			1,990			1,316			107			152			191			19			85			18		50			78			4,130
Income (loss) before income tax (expense) benefit	(1,041		)	(3		)	106			(15		)	70			29			(8		)	(4		)	24		(1		)	(75		)	(918		)
Income tax (expense) benefit	—			(7		)	(17		)	7			(16		)	(12		)	1			—			—		—			22			(22		)
Net (loss) income	(1,041		)	(10		)	89			(8		)	54			17			(7		)	(4		)	24		(1		)	(53		)	(940		)
Less: net loss (income) attributable to non-controlling interests	562			(1		)	(39		)	—			(19		)	(5		)	1			1			—		—			—			500
Net (loss) income attributable to Icahn Enterprises	$	(479	)	$	(11	)	$	50		$	(8	)	$	35		$	12		$	(6	)	$	(3	)	$	24	$	(1	)	$	(53	)	$	(440	)

Supplemental information:
Capital expenditures	$	—		$	111		$	55		$	4		$	133		$	16		$	12		$	6		$	—	$	1		$	—		$	338
Depreciation and amortization⁽¹⁾	$	—		$	89		$	56		$	8		$	32		$	17		$	3		$	6		$	5	$	1		$	—		$	217



	Three Months Ended September 30, 2014
	Investment			Automotive			Energy			Metals			Railcar			Gaming			Mining		Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	1,871		$	2,280		$	186		$	74		$	—		$	—	$	95		$	5	$	46		$	—		$	4,557
Other revenues from operations	—			—			—			—			108			220			—		—			22		—			—			350
Net (loss) income from investment activities	(501		)	—			2			—			—			—			—		—			—		—			(93		)	(592		)
Interest and dividend income	58			1			1			—			1			1			—		—			—		—			—			62
Other (loss) income, net	(1		)	18			26			1			(1		)	(1		)	—		(1		)	—		2			2			45
	(444		)	1,890			2,309			187			182			220			—		94			27		48			(91		)	4,422
Expenses:
Cost of goods sold	—			1,609			2,251			188			55			—			—		73			3		39			—			4,218
Other expenses from operations	—			—			—			—			44			108			—		—			14		—			—			166
Selling, general and administrative	37			222			39			5			11			90			—		13			4		7			3			431
Restructuring	—			25			—			—			—			—			—		—			—		(2		)	—			23
Impairment	—			1			—			—			—			—			—		—			3		—			—			4
Interest expense	87			35			10			—			16			4			—		3			—		—			71			226
	124			1,892			2,300			193			126			202			—		89			24		44			74			5,068
Income (loss) before income tax benefit (expense)	(568		)	(2		)	9			(6		)	56			18			—		5			3		4			(165		)	(646		)
Income tax benefit (expense)	—			1			2			3			(12		)	(5		)	—		(3		)	—		—			33			19
Net (loss) income	(568		)	(1		)	11			(3		)	44			13			—		2			3		4			(132		)	(627		)
Less: net loss (income) attributable to non-controlling interests	298			3			(8		)	—			(15		)	(5		)	—		(1		)	—		—			—			272
Net (loss) income attributable to Icahn Enterprises	$	(270	)	$	2		$	3		$	(3	)	$	29		$	8		$	—	$	1		$	3	$	4		$	(132	)	$	(355	)

Supplemental information:
Capital expenditures	$	—		$	109		$	56		$	17		$	188		$	23		$	—	$	6		$	—	$	—		$	—		$	399
Depreciation and amortization⁽¹⁾	$	—		$	88		$	54		$	7		$	27		$	14		$	—	$	5		$	6	$	1		$	—		$	202



	Nine Months Ended September 30, 2015
	Investment			Automotive			Energy			Metals			Railcar			Gaming			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	5,831		$	4,422		$	301		$	281		$	—		$	18		$	262		$	2	$	147		$	—		$	11,264
Other revenues from operations	—			—			—			—			367			615			—			—			60		—			—			1,042
Net income (loss) from investment activities	231			—			36			—			—			—			—			—			—		—			(31		)	236
Interest and dividend income	125			4			1			—			2			1			1			—			—		—			2			136
Other (loss) income, net	(1		)	41			(51		)	3			5			(1		)	(3		)	(8		)	41		1			2			29
	355			5,876			4,408			304			655			615			16			254			103		148			(27		)	12,707
Expenses:
Cost of goods sold	—			4,950			3,839			328			208			—			20			201			1		126			—			9,673
Other expenses from operations	—			—			—			—			151			297			—			—			36		—			—			484
Selling, general and administrative	206			722			99			15			31			253			7			37			9		25			19			1,423
Restructuring	—			57			—			—			—			—			—			—			—		—			—			57
Impairment	—			10			—			—			—			—			—			—			—		—			—			10
Interest expense	412			107			36			—			61			9			1			9			2		—			216			853
	618			5,846			3,974			343			451			559			28			247			48		151			235			12,500
(Loss) income before income tax (expense) benefit	(263		)	30			434			(39		)	204			56			(12		)	7			55		(3		)	(262		)	207
Income tax (expense) benefit	—			(30		)	(87		)	17			(50		)	(23		)	(1		)	(5		)	—		—			(5		)	(184		)
Net (loss) income	(263		)	—			347			(22		)	154			33			(13		)	2			55		(3		)	(267		)	23
Less: net loss (income) attributable to non-controlling interests	144			(4		)	(166		)	—			(56		)	(10		)	3			(1		)	—		—			—			(90		)
Net (loss) income attributable to Icahn Enterprises	$	(119	)	$	(4	)	$	181		$	(22	)	$	98		$	23		$	(10	)	$	1		$	55	$	(3	)	$	(267	)	$	(67	)

Supplemental information:
Capital expenditures	$	—		$	328		$	142		$	23		$	463		$	77		$	14		$	15		$	1	$	4		$	—		$	1,067
Depreciation and amortization⁽¹⁾	$	—		$	257		$	172		$	22		$	93		$	46		$	4		$	15		$	16	$	5		$	—		$	630



	Nine Months Ended September 30, 2014
	Investment			Automotive			Energy			Metals			Railcar			Gaming			Mining		Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	5,522		$	7,268		$	563		$	314		$	—		$	—	$	276		$	13	$	134		$	—		$	14,090
Other revenues from operations	—			—			—			—			302			571			—		—			61		—			—			934
Net gain (loss) from investment activities	648			—			(1		)	—			—			—			—		—			—		—			(138		)	509
Interest and dividend income	154			3			2			—			2			2			—		—			—		—			2			165
Other income (loss), net	1			(1		)	171			1			(4		)	37			—		(16		)	3		3			(102		)	93
	803			5,524			7,440			564			614			610			—		260			77		137			(238		)	15,791
Expenses:
Cost of goods sold	—			4,689			6,856			571			242			—			—		208			7		114			—			12,687
Other expenses from operations	—			—			—			—			131			288			—		—			39		—			—			458
Selling, general and administrative	147			622			106			17			33			242			—		35			10		22			13			1,247
Restructuring	—			63			—			—			—			—			—		—			—		(2		)	—			61
Impairment	—			3			—			—			—			—			—		—			3		—			—			6
Interest expense	189			92			28			—			43			10			—		11			2		—			218			593
	336			5,469			6,990			588			449			540			—		254			61		134			231			15,052
Income (loss) before income tax (expense) benefit	467			55			450			(24		)	165			70			—		6			16		3			(469		)	739
Income tax (expense) benefit	—			(27		)	(100		)	11			(38		)	(18		)	—		(4		)	—		—			10			(166		)
Net income (loss)	467			28			350			(13		)	127			52			—		2			16		3			(459		)	573
Less: net (income) loss attributable to non-controlling interests	(231		)	(7		)	(165		)	—			(47		)	(17		)	—		(1		)	—		—			—			(468		)
Net income (loss) attributable to Icahn Enterprises	$	236		$	21		$	185		$	(13	)	$	80		$	35		$	—	$	1		$	16	$	3		$	(459	)	$	105

Supplemental information:
Capital expenditures	$	—		$	282		$	171		$	24		$	438		$	52		$	—	$	16		$	1	$	2		$	—		$	986
Depreciation and amortization⁽¹⁾	$	—		$	251		$	162		$	19		$	78		$	36		$	—	$	16		$	17	$	5		$	—		$	584


⁽¹⁾	Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense in the amounts of $5 million and $4 million for the three months ended September 30, 2015 and 2014, respectively, and $11 million and $17 million for the nine months ended September 30, 2015 and 2014, respectively.

Condensed balance sheets by reporting segment

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



	September 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	$	11	$	235	$	1,012	$	6	$	271		$	223	$	28	$	43	$	16	$	14	$	182		$	2,041
Cash held at consolidated affiliated partnerships and restricted cash	1,366		—		—		4		45			14		1		1		2		5		3			1,441
Investments	13,150		280		—		—		29			29		—		—		—		—		173			13,661
Accounts receivable, net	—		1,529		133		39		52			9		4		65		7		38		—			1,876
Inventories, net	—		1,675		285		53		126			—		37		76		—		66		—			2,318
Property, plant and equipment, net	—		2,379		2,691		142		2,741			743		295		151		614		72		3			9,831
Goodwill and intangible assets, net	—		1,881		1,170		7		7			74		6		8		51		3		—			3,207
Other assets	947		465		119		23		99			205		20		86		18		9		86			2,077
Total assets	$	15,474	$	8,444	$	5,410	$	274	$	3,370		$	1,297	$	391	$	430	$	708	$	207	$	447		$	36,452
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	686	$	2,137	$	1,402	$	49	$	319		$	135	$	48	$	66	$	21	$	30	$	38		$	4,931
Securities sold, not yet purchased, at fair value	1,237		—		—		—		—			—		—		—		—		—		—			1,237
Due to brokers	4,504		—		—		—		—			—		—		—		—		—		—			4,504
Post-employment benefit liability	—		1,253		—		2		8			—		—		49		—		—		—			1,312
Debt	—		3,025		674		1		2,361			293		39		271		29		—		5,489			12,182
Total liabilities	6,427		6,415		2,076		52		2,688			428		87		386		50		30		5,527			24,166

Equity attributable to Icahn Enterprises	4,168		1,655		1,751		222		726			601		234		28		658		177		(5,080		)	5,140
Equity attributable to non-controlling interests	4,879		374		1,583		—		(44		)	268		70		16		—		—		—			7,146
Total equity	9,047		2,029		3,334		222		682			869		304		44		658		177		(5,080		)	12,286
Total liabilities and equity	$	15,474	$	8,444	$	5,410	$	274	$	3,370		$	1,297	$	391	$	430	$	708	$	207	$	447		$	36,452



	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 September 30,																September 30,		December 31,
	2015								2014								2015		2014
	Interest Expense		Net (Loss) Income			Net (Loss) Income Attributable to Icahn Enterprises Holdings			Interest Expense		Net (Loss) Income			Net (Loss) Income Attributable to Icahn Enterprises Holdings			Total Assets		Total Assets
	(in millions)																(in millions)
Investment	$	148	$	(1,041	)	$	(479	)	$	87	$	(568	)	$	(270	)	$	15,474	$	15,460
Automotive	37		(10		)	(11		)	35		(1		)	2			8,444		7,529
Energy	12		89			50			10		11			3			5,410		5,334
Metals	—		(8		)	(8		)	—		(3		)	(3		)	274		315
Railcar	20		54			35			16		44			29			3,370		3,120
Gaming	3		17			12			4		13			8			1,297		1,260
Mining	—		(7		)	(6		)	—		—			—			391		—
Food Packaging	3		(4		)	(3		)	3		2			1			430		436
Real Estate	1		24			24			—		3			3			708		745
Home Fashion	—		(1		)	(1		)	—		4			4			207		208
Holding Company	72		(53		)	(53		)	71		(132		)	(132		)	471		1,396
Consolidated	$	296	$	(940	)	$	(440	)	$	226	$	(627	)	$	(355	)	$	36,476	$	35,803



	Nine Months Ended September 30,
	2015								2014
	Interest Expense		Net (Loss) Income			Net (Loss) Income Attributable to Icahn Enterprises Holdings			Interest Expense		Net Income (Loss)			Net Income (Loss) Attributable to Icahn Enterprises Holdings
	(in millions)
Investment	$	412	$	(263	)	$	(119	)	$	189	$	467		$	236
Automotive	107		—			(4		)	92		28			21
Energy	36		347			181			28		350			185
Metals	—		(22		)	(22		)	—		(13		)	(13		)
Railcar	61		154			98			43		127			80
Gaming	9		33			23			10		52			35
Mining	1		(13		)	(10		)	—		—			—
Food Packaging	9		2			1			11		2			1
Real Estate	2		55			55			2		16			16
Home Fashion	—		(3		)	(3		)	—		3			3
Holding Company	215		(266		)	(266		)	217		(458		)	(458		)
Consolidated	$	852	$	24		$	(66	)	$	592	$	574		$	106