Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Condensed statements of operations by reporting segment

	Three Months Ended September 30, 2017
	Investment			Automotive			Energy			Railcar			Gaming			Metals			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	2,493		$	1,453		$	68		$	—		$	110		$	21		$	99		$	2	$	46		$	—		$	4,292
Other revenues from operations	—			96			—			66			246			—			—			—			19		—			—			427
Net income from investment activities	386			—			—			—			—			—			—			—			—		—			34			420
Interest and dividend income	27			3			1			1			—			—			—			—			2		—			3			37
Gain (loss) on disposition of assets, net	—			1			(1		)	(10		)	—			—			—			—			456		—			—			446
Other (loss) income, net	(9		)	15			(16		)	1			60			(1		)	(2		)	4			1		—			5			58
	404			2,608			1,437			126			306			109			19			103			480		46			42			5,680
Expenses:
Cost of goods sold	—			2,022			1,356			65			—			105			15			75			2		39			—			3,679
Other expenses from operations	—			107			—			25			109			—			—			—			13		—			—			254
Selling, general and administrative	3			455			35			9			87			5			4			14			2		11			8			633
Restructuring, net	—			4			—			—			—			—			—			1			—		—			—			5
Impairment	—			4			—			1			—			—			—			—			—		—			—			5
Interest expense	42			42			28			5			3			—			2			3			—		—			82			207
	45			2,634			1,419			105			199			110			21			93			17		50			90			4,783
Income (loss) before income tax benefit (expense)	359			(26		)	18			21			107			(1		)	(2		)	10			463		(4		)	(48		)	897
Income tax benefit (expense)	—			19			(2		)	(6		)	(27		)	2			—			(4		)	—		—			(50		)	(68		)
Net income (loss)	359			(7		)	16			15			80			1			(2		)	6			463		(4		)	(98		)	829
Less: net income (loss) attributable to non-controlling interests	221			2			(2		)	3			7			—			—			1			—		—			—			232
Net income (loss) attributable to Icahn Enterprises	$	138		$	(9	)	$	18		$	12		$	73		$	1		$	(2	)	$	5		$	463	$	(4	)	$	(98	)	$	597
Supplemental information:
Capital expenditures	$	—		$	113		$	23		$	30		$	30		$	1		$	10		$	6		$	7	$	2		$	—		$	222
Depreciation and amortization(1)	$	—		$	128		$	70		$	15		$	19		$	5		$	2		$	5		$	5	$	2		$	—		$	251

	Three Months Ended September 30, 2016
	Investment			Automotive			Energy			Railcar			Gaming			Metals			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	2,346		$	1,240		$	94		$	—		$	72		$	18		$	81		$	5	$	48		$	—		$	3,904
Other revenues from operations	—			116			—			133			268			—			—			—			20		—			—			537
Net gain (loss) from investment activities	412			—			5			—			—			—			—			—			—		—			1			418
Interest and dividend income	24			—			1			—			—			—			—			—			—		—			2			27
(Loss) gain on disposition of assets, net	—			(1		)	(1		)	1			—			—			—			—			—		—			—			(1		)
Other (loss) income, net	(1		)	15			(1		)	—			3			—			(1		)	(1		)	—		—			—			14
	435			2,476			1,244			228			271			72			17			80			25		48			3			4,899
Expenses:
Cost of goods sold	—			1,899			1,195			86			—			78			13			61			4		42			—			3,378
Other expenses from operations	—			122			—			80			127			—			—			—			13		—			—			342
Selling, general and administrative	21			382			35			10			118			4			4			12			4		10			3			603
Restructuring, net	—			7			—			—			—			1			—			—			—		—			—			8
Impairment	—			1			—			—			92			—			—			—			—		—			—			93
Interest expense	52			41			26			22			3			—			2			4			—		—			72			222
	73			2,452			1,256			198			340			83			19			77			21		52			75			4,646
Income (loss) before income tax benefit (expense)	362			24			(12		)	30			(69		)	(11		)	(2		)	3			4		(4		)	(72		)	253
Income tax benefit (expense)	—			9			4			(9		)	(14		)	5			(1		)	(1		)	—		—			(8		)	(15		)
Net income (loss)	362			33			(8		)	21			(83		)	(6		)	(3		)	2			4		(4		)	(80		)	238
Less: net income (loss) attributable to non-controlling interests	251			4			(10		)	3			6			—			(1		)	1			—		—			—			254
Net income (loss) attributable to Icahn Enterprises	$	111		$	29		$	2		$	18		$	(89	)	$	(6	)	$	(2	)	$	1		$	4	$	(4	)	$	(80	)	$	(16	)
Supplemental information:
Capital expenditures	$	—		$	98		$	23		$	42		$	15		$	1		$	7		$	5		$	—	$	3		$	—		$	194
Depreciation and amortization(1)	$	—		$	120		$	68		$	35		$	18		$	6		$	2		$	4		$	4	$	1		$	—		$	258

	Nine Months Ended September 30, 2017
	Investment			Automotive		Energy			Railcar			Gaming			Metals			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	7,488	$	4,395		$	184		$	—		$	315		$	76		$	288		$	9	$	138		$	—		$	12,893
Other revenues from operations	—			329		—			320			685			—			—			—			55		—			—			1,389
Net income from investment activities	552			—		—			2			—			—			—			—			—		—			50			604
Interest and dividend income	80			4		1			2			1			—			1			—			2		—			8			99
Gain (loss) on disposition of assets, net	—			4		(2		)	1,511			(3		)	—			—			—			456		—			—			1,966
Other (loss) income, net	(50		)	45		(3		)	2			61			(1		)	(3		)	3			1		—			5			60
	582			7,870		4,391			2,021			744			314			74			291			523		138			63			17,011
Expenses:
Cost of goods sold	—			6,045		4,191			170			—			299			45			218			7		119			—			11,094
Other expenses from operations	—			326		—			107			317			—			—			—			36		—			—			786
Selling, general and administrative	8			1,320		105			38			280			14			12			47			8		30			21			1,883
Restructuring, net	—			11		—			—			—			—			—			3			—		—			—			14
Impairment	—			12		—			68			—			—			—			—			2		—			—			82
Interest expense	134			124		82			39			9			—			5			10			1		—			244			648
	142			7,838		4,378			422			606			313			62			278			54		149			265			14,507
Income (loss) before income tax benefit (expense)	440			32		13			1,599			138			1			12			13			469		(11		)	(202		)	2,504
Income tax benefit (expense)	—			537		2			(525		)	(48		)	3			(2		)	(5		)	—		—			(72		)	(110		)
Net income (loss)	440			569		15			1,074			90			4			10			8			469		(11		)	(274		)	2,394
Less: net income (loss) attributable to non-controlling interests	228			8		(7		)	11			18			—			2			2			—		—			—			262
Net income (loss) attributable to Icahn Enterprises	$	212		$	561	$	22		$	1,063		$	72		$	4		$	8		$	6		$	469	$	(11	)	$	(274	)	$	2,132
Supplemental information:
Capital expenditures	$	—		$	333	$	80		$	139		$	83		$	4		$	27		$	15		$	7	$	4		$	—		$	692
Depreciation and amortization(1)	$	—		$	375	$	208		$	51		$	54		$	15		$	4		$	18		$	15	$	6		$	—		$	746

	Nine Months Ended September 30, 2016
	Investment			Automotive			Energy			Railcar			Gaming			Metals			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	7,140		$	3,429		$	315		$	—		$	206		$	49		$	243		$	13	$	151		$	—		$	11,546
Other revenues from operations	—			314			—			398			740			—			—			—			54		—			—			1,506
Net (loss) gain from investment activities	(841		)	—			5			—			—			—			—			—			—		—			10			(826		)
Interest and dividend income	84			2			1			2			—			—			1			—			—		—			7			97
Gain on disposition of assets, net	—			8			(1		)	1			—			1			—			—			1		—			—			10
Other (loss) income, net	(3		)	52			(9		)	3			3			—			(9		)	4			—		1			1			43
	(760		)	7,516			3,425			719			743			207			41			247			68		152			18			12,376
Expenses:
Cost of goods sold	—			5,797			3,297			270			—			217			43			185			10		130			—			9,949
Other expenses from operations	—			323			—			186			358			—			—			—			35		—			—			902
Selling, general and administrative	28			1,131			103			32			329			14			12			39			9		28			11			1,736
Restructuring, net	—			28			—			—			—			1			—			—			—		—			—			29
Impairment	—			4			574			—			92			—			—			—			—		—			—			670
Interest expense	184			118			56			66			9			—			5			10			1		—			216			665
	212			7,401			4,030			554			788			232			60			234			55		158			227			13,951
(Loss) income before income tax (expense) benefit	(972		)	115			(605		)	165			(45		)	(25		)	(19		)	13			13		(6		)	(209		)	(1,575		)
Income tax (expense) benefit	—			(12		)	17			(42		)	(24		)	12			(2		)	(5		)	—		—			(25		)	(81		)
Net (loss) income	(972		)	103			(588		)	123			(69		)	(13		)	(21		)	8			13		(6		)	(234		)	(1,656		)
Less: net (loss) income attributable to non-controlling interests	(526		)	18			(259		)	25			11			—			(5		)	2			—		—			—			(734		)
Net (loss) income attributable to Icahn Enterprises	$	(446	)	$	85		$	(329	)	$	98		$	(80	)	$	(13	)	$	(16	)	$	6		$	13	$	(6	)	$	(234	)	$	(922	)
Supplemental information:
Capital expenditures	$	—		$	306		$	106		$	104		$	63		$	3		$	12		$	11		$	—	$	10		$	—		$	615
Depreciation and amortization(1)	$	—		$	337		$	191		$	103		$	53		$	17		$	3		$	15		$	15	$	5		$	—		$	739

⁽¹⁾  Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense in the amounts of $4 million and $6 million for the three months ended September 30, 2017 and 2016, respectively, and $13 million and $14 million for the nine months ended September 30, 2017 and 2016, respectively.

Condensed balance sheets by reporting segment

	September 30, 2017
	Investment		Automotive		Energy		Railcar		Gaming		Metals		Mining		Food Packaging		Real Estate		Home Fashion		Holding Company			Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	17	$	366	$	849	$	106	$	125	$	14	$	17	$	18	$	41	$	1	$	484		$	2,038
Cash held at consolidated affiliated partnerships and restricted cash	951		—		—		19		15		4		—		2		2		4		2			999
Investments	9,016		302		6		24		27		—		—		—		—		—		373			9,748
Accounts receivable, net	—		1,477		143		34		11		57		8		78		10		35		—			1,853
Inventories, net	—		2,618		340		73		—		30		26		93		—		76		—			3,256
Property, plant and equipment, net	—		3,453		3,239		1,180		800		89		177		166		454		73		—			9,631
Goodwill and intangible assets, net	—		1,817		303		7		74		3		—		36		31		—		—			2,271
Other assets	1,026		618		67		467		281		26		23		106		393		4		10			3,021
Total assets	$	11,010	$	10,651	$	4,947	$	1,910	$	1,333	$	223	$	251	$	499	$	931	$	193	$	869		$	32,817
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,712	$	3,066	$	1,532	$	351	$	187	$	52	$	46	$	96	$	57	$	35	$	216		$	7,350
Securities sold, not yet purchased, at fair value	1,258		—		—		—		—		—		—		—		—		—		—			1,258
Due to brokers	603		—		—		—		—		—		—		—		—		—		—			603
Post-employment benefit liability	—		1,127		—		9		—		2		—		72		—		—		—			1,210
Debt	—		3,451		1,166		552		162		—		58		273		23		5		5,508			11,198
Total liabilities	3,573		7,644		2,698		912		349		54		104		441		80		40		5,724			21,619
Equity attributable to Icahn Enterprises	2,882		2,852		941		787		841		169		123		40		851		153		(4,855		)	4,784
Equity attributable to non-controlling interests	4,555		155		1,308		211		143		—		24		18		—		—		—			6,414
Total equity	7,437		3,007		2,249		998		984		169		147		58		851		153		(4,855		)	11,198
Total liabilities and equity	$	11,010	$	10,651	$	4,947	$	1,910	$	1,333	$	223	$	251	$	499	$	931	$	193	$	869		$	32,817

	December 31, 2016
	Investment		Automotive		Energy		Railcar		Gaming		Metals		Mining		Food Packaging		Real Estate		Home Fashion		Holding Company			Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	13	$	353	$	736	$	179	$	244	$	4	$	14	$	39	$	24	$	2	$	225		$	1,833
Cash held at consolidated affiliated partnerships and restricted cash	752		2		—		19		15		5		—		2		2		4		3			804
Investments	9,213		270		6		35		33		—		—		—		—		—		324			9,881
Accounts receivable, net	—		1,270		152		40		12		29		5		63		3		35		—			1,609
Inventories, net	—		2,353		349		75		—		38		25		72		—		71		—			2,983
Property, plant and equipment, net	—		3,302		3,358		1,567		814		100		152		152		602		75		—			10,122
Goodwill and intangible assets, net	—		1,801		318		7		75		4		—		8		38		1		—			2,252
Other assets	1,518		504		94		1,410		209		13		23		92		18		5		1			3,887
Total assets	$	11,496	$	9,855	$	5,013	$	3,332	$	1,402	$	193	$	219	$	428	$	687	$	193	$	553		$	33,371
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,236	$	2,870	$	1,474	$	2,100	$	153	$	34	$	38	$	69	$	20	$	29	$	168		$	8,191
Securities sold, not yet purchased, at fair value	1,139		—		—		—		—		—		—		—		—		—		—			1,139
Due to brokers	3,725		—		—		—		—		—		—		—		—		—		—			3,725
Post-employment benefit liability	—		1,113		—		9		—		2		—		56		—		—		—			1,180
Debt	—		3,259		1,165		571		287		2		55		265		25		—		5,490			11,119
Total liabilities	6,100		7,242		2,639		2,680		440		38		93		390		45		29		5,658			25,354
Equity attributable to Icahn Enterprises	1,669		2,292		1,034		444		730		155		104		25		642		164		(5,105		)	2,154
Equity attributable to non-controlling interests	3,727		321		1,340		208		232		—		22		13		—		—		—			5,863
Total equity	5,396		2,613		2,374		652		962		155		126		38		642		164		(5,105		)	8,017
Total liabilities and equity	$	11,496	$	9,855	$	5,013	$	3,332	$	1,402	$	193	$	219	$	428	$	687	$	193	$	553		$	33,371