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Net Income Per LP Unit
 9 Months Ended
Sep. 30, 2016
Net Income Per LP Unit [Abstract]  
Net Income Per LP Unit
Net Income Per LP Unit.
The following table sets forth the allocation of net income attributable to Icahn Enterprises allocable to limited partners and the computation of basic and diluted income per LP unit of Icahn Enterprises for the periods indicated:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
  
2016
 
2015
 
2016
 
2015
 
(in millions, except per unit data)
Net (loss) income attributable to Icahn Enterprises
$
(16
)
 
$
(440
)
 
$
(922
)
 
$
(67
)
Net (loss) income attributable to Icahn Enterprises allocable to limited partners (98.01% allocation)
$
(16
)
 
$
(432
)
 
$
(904
)
 
$
(66
)
 
 
 
 
 
 
 
 
Basic and diluted (loss) income per LP unit
$
(0.12
)
 
$
(3.40
)
 
$
(6.70
)
 
$
(0.53
)
Basic and diluted weighted average LP units outstanding
139

 
127

 
135

 
125

LP Unit Issuance
As disclosed in Note 3, "Related Party Transactions," pursuant to a certain contribution agreement, on February 29, 2016, we contributed 685,367 newly issued depositary units of Icahn Enterprises to IRL in exchange for the remaining 25% economic interest in ARL.
LP Unit Distributions
On February 23, 2016, Icahn Enterprises declared a quarterly distribution in the amount of $1.50 per depositary unit in which each depositary unit holder had the option to make an election to receive either cash or additional depositary units. As a result, on April 12, 2016, Icahn Enterprises distributed an aggregate 2,824,186 depositary units to unit holders electing to receive depositary units in connection with this distribution.
On April 29, 2016, Icahn Enterprises declared a quarterly distribution in the amount of $1.50 per depositary unit in which each depositary unit holder had the option to make an election to receive either cash or additional depositary units. As a result, on June 16, 2016, Icahn Enterprises distributed an aggregate 3,116,976 depositary units to unit holders electing to receive depositary units in connection with this distribution.
On August 3, 2016, Icahn Enterprises declared a quarterly distribution in the amount of $1.50 per depositary unit in which each depositary unit holder had the option to make an election to receive either cash or additional depositary units. As a result, on September 19, 2016, Icahn Enterprises distributed an aggregate 3,586,029 depositary units to unit holders electing to receive depositary units in connection with this distribution.
Mr. Icahn and his affiliates elected to receive a majority of their proportionate share of these distributions in depositary units. As of November 2, 2016, Mr. Icahn and his affiliates owned 89.7% of Icahn Enterprises outstanding depositary units.