Discontinued Operations (Notes)

12 Months Ended

Dec. 31, 2018

Discontinued Operations.

As discussed in Note 1, "Description of Business," we operated discontinued operations previously included in our Automotive and Railcar segments and our former Gaming segment.

Income from discontinued operations is summarized as follows:



	Year Ended December 31, 2018												Year Ended December 31, 2017											Year Ended December 31, 2016
	Automotive			Gaming			Railcar			Total			Automotive			Gaming			Railcar		Total			Automotive			Gaming			Railcar			Total
Revenues:	(in millions)
Net sales	$	5,993		$	—		$	228		$	6,221		$	7,720		$	—		$	265	$	7,985		$	7,341		$	—		$	430		$	7,771
Other revenues from operations	—			679			213			892			—			898			197		1,095			—			943			175			1,118
Net gain on investment activities	—			—			—			—			—			—			2		2			—			—			—			—
Interest and dividend income	2			1			2			5			6			1			2		9			4			1			2			7
Gain (loss) on disposition of assets, net	65			—			—			65			7			(1		)	—		6			8			—			—			8
Other income, net	5			1			13			19			31			27			3		61			31			3			5			39
	6,065			681			456			7,202			7,764			925			469		9,158			7,384			947			612			8,943
Expenses:
Cost of goods sold	4,999			—			215			5,214			6,553			—			249		6,802			6,215			—			366			6,581
Other expenses from operations	—			311			114			425			—			425			100		525			—			460			68			528
Selling, general and administrative	601			238			40			879			862			371			37		1,270			845			432			32			1,309
Restructuring, net	13			—			—			13			21			—			—		21			27			—			—			27
Impairment	2			—			4			6			25			—			—		25			17			106			—			123
Interest expense	137			4			19			160			154			11			22		187			150			13			23			186
	5,752			553			392			6,697			7,615			807			408		8,830			7,254			1,011			489			8,754
Income (loss) from discontinued operations before gain (loss) on sale and income tax (expense) benefit	313			128			64			505			149			118			61		328			130			(64		)	123			189
Gain (loss) on sale of discontinued operations	251			779			400			1,430			—			(3		)	—		(3		)	—			—			—			—
Income (loss) from discontinued operations before income tax (expense) benefit	564			907			464			1,935			149			115			61		325			130			(64		)	123			189
Income tax (expense) benefit	(69		)	(89		)	(13		)	(171		)	(33		)	(93		)	35		(91		)	(43		)	(24		)	(57		)	(124		)
Income (loss) from discontinued operations	495			818			451			1,764			116			22			96		234			87			(88		)	66			65
Less: income from discontinued operations attributable to non-controlling interests	7			17			20			44			11			13			53		77			24			14			28			66
Income (loss) from discontinued operations attributable to Icahn Enterprises	$	488		$	801		$	431		$	1,720		$	105		$	9		$	43	$	157		$	63		$	(102	)	$	38		$	(1	)

Supplemental information:
Capital expenditures	$	303		$	58		$	125		$	486		$	393		$	112		$	171	$	676		$	381		$	85		$	113		$	579
Depreciation and amortization	$	100		$	19		$	47		$	166		$	397		$	73		$	58	$	528		$	375		$	71		$	42		$	488

As of December 31, 2018, assets and liabilities held for sale primarily consists of property, plant and equipment, net for operations not classified as discontinued operations. As of December 31, 2017, assets and liabilities held for sale were primarily related to discontinued operations, all of which were sold during 2018. Assets and liabilities held for sale as of December 31, 2017 consists of the following:



	December 31, 2017
	Automotive		Gaming		Railcar		Total
Assets Held For Sale	(in millions)
Cash and cash equivalents	$	315	$	103	$	100	$	518
Restricted cash	4		16		19		39
Investments	324		7		23		354
Accounts receivable, net	1,182		11		44		1,237
Inventories, net	1,456		—		54		1,510
Property, plant and equipment, net	2,545		792		1,199		4,536
Goodwill	941		—		7		948
Intangible assets, net	517		74		—		591
Other assets	394		93		27		514
Assets held for sale (discontinued operations)	$	7,678	$	1,096	$	1,473	$	10,247
Other assets held for sale							16
Total assets held for sale							$	10,263
Liabilities Held For Sale
Accounts payable, accrued expenses and other liabilities	$	1,718	$	142	$	62	$	1,922
Deferred tax liability	—		—		192		192
Post-retirement benefit liability	1,075		—		8		1,083
Debt	3,130		137		546		3,813
Liabilities held for sale (discontinued operations)	$	5,923	$	279	$	808	$	7,010

Other assets held for sale in the table above primarily consists of property, plant and equipment, net for other operations not classified as discontinued operations.