Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2019



	Three Months Ended March 31, 2019
	Investment			Energy			Automotive			Food Packaging			Metals			Real Estate		Home Fashion			Mining			Railcar		Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	1,486		$	550		$	95		$	93		$	2	$	39		$	35		$	—	$	—		$	2,300
Other revenues from operations	—			—			143			—			—			19		—			—			—		—			162
Net loss from investment activities	(609		)	—			—			—			—			—		—			—			—		(65		)	(674		)
Interest and dividend income	42			—			—			—			—			—		—			1			—		21			64
Other (loss) income, net	(1		)	1			4			(3		)	—			2		—			—			—		—			3
	(568		)	1,487			697			92			93			23		39			36			—		(44		)	1,855
Expenses:
Cost of goods sold	—			1,303			375			75			92			2		33			20			—		—			1,900
Other expenses from operations	—			—			119			—			—			12		—			—			—		—			131
Selling, general and administrative	2			37			252			15			4			5		10			7			—		4			336
Restructuring, net	—			—			—			7			—			—		—			—			—		—			7
Interest expense	18			26			5			4			—			—		—			2			—		84			139
	20			1,366			751			101			96			19		43			29			—		88			2,513
(Loss) income from continuing operations before income tax (expense) benefit	(588		)	121			(54		)	(9		)	(3		)	4		(4		)	7			—		(132		)	(658		)
Income tax (expense) benefit	—			(31		)	12			4			—			—		—			(1		)	—		10			(6		)
Net (loss) income from continuing operations	(588		)	90			(42		)	(5		)	(3		)	4		(4		)	6			—		(122		)	(664		)
Less: net (loss) income from continuing operations attributable to non-controlling interests	(293		)	24			—			(2		)	—			—		—			1			—		—			(270		)
Net (loss) income from continuing operations attributable to Icahn Enterprises	$	(295	)	$	66		$	(42	)	$	(3	)	$	(3	)	$	4	$	(4	)	$	5		$	—	$	(122	)	$	(394	)

Supplemental information:
Capital expenditures	$	—		$	29		$	13		$	7		$	5		$	6	$	1		$	4		$	—	$	—		$	65
Depreciation and amortization	$	—		$	83		$	24		$	6		$	4		$	4	$	2		$	—		$	—	$	—		$	123



	Three Months Ended March 31, 2018
	Investment		Energy			Automotive			Food Packaging			Metals		Real Estate		Home Fashion			Mining			Railcar		Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	1,537		$	549		$	97		$	118	$	1	$	42		$	20		$	—	$	—		$	2,364
Other revenues from operations	—		—			137			—			—		21		—			—			—		—			158
Net gain from investment activities	410		—			—			—			—		—		—			—			—		22			432
Interest and dividend income	18		—			—			—			—		5		—			—			—		3			26
Other income (loss), net	—		2			—			(6		)	1		—		—			—			5		1			3
	428		1,539			686			91			119		27		42			20			5		26			2,983
Expenses:
Cost of goods sold	—		1,385			361			77			110		1		36			17			—		—			1,987
Other expenses from operations	—		—			113			—			—		12		—			—			—		—			125
Selling, general and administrative	1		32			258			15			5		6		9			6			—		6			338
Restructuring, net	—		—			—			—			—		—		2			—			—		—			2
Interest expense	26		27			3			4			—		1		—			2			—		84			147
	27		1,444			735			96			115		20		47			25			—		90			2,599
Income (loss) from continuing operations before income tax (expense) benefit	401		95			(49		)	(5		)	4		7		(5		)	(5		)	5		(64		)	384
Income tax (expense) benefit	—		(14		)	15			2			—		—		—			(1		)	—		(19		)	(17		)
Net income (loss) from continuing operations	401		81			(34		)	(3		)	4		7		(5		)	(6		)	5		(83		)	367
Less: net income (loss) from continuing operations attributable to non-controlling interests	240		31			—			—			—		—		—			(2		)	—		—			269
Net income (loss) from continuing operations attributable to Icahn Enterprises	$	161	$	50		$	(34	)	$	(3	)	$	4	$	7	$	(5	)	$	(4	)	$	5	$	(83	)	$	98

Supplemental information:
Capital expenditures	$	—	$	20		$	19		$	5		$	1	$	3	$	1		$	13		$	—	$	—		$	62
Depreciation and amortization	$	—	$	83		$	24		$	7		$	5	$	5	$	2		$	2		$	—	$	—		$	128



	March 31, 2019
	Investment		Energy		Automotive		Food Packaging		Metals		Real Estate		Home Fashion		Mining		Holding Company			Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	7	$	467	$	65	$	33	$	11	$	41	$	1	$	—	$	2,139		$	2,764
Cash held at consolidated affiliated partnerships and restricted cash	2,286		—		—		1		1		2		2		—		7			2,299
Investments	7,130		83		86		—		—		15		—		—		789			8,103
Accounts receivable, net	—		193		168		76		49		3		28		—		—			517
Inventories, net	—		403		1,233		103		40		—		73		—		—			1,852
Property, plant and equipment, net	—		3,004		951		168		115		376		68		—		—			4,682
Goodwill and intangible assets, net	—		273		391		32		2		21		—		—		—			719
Assets held for sale	—		33		—		—		1		—		—		330		—			364
Other assets	1,268		232		769		139		22		34		11		—		49			2,524
Total assets	$	10,691	$	4,688	$	3,663	$	552	$	241	$	492	$	183	$	330	$	2,984		$	23,824
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	730	$	1,171	$	1,426	$	212	$	66	$	46	$	42	$	—	$	504		$	4,197
Securities sold, not yet purchased, at fair value	447		—		—		—		—		—		—		—		—			447
Liabilities held for sale	—		—		—		—		—		—		—		136		—			136
Debt	—		1,196		405		271		1		2		12		—		5,505			7,392
Total liabilities	1,177		2,367		1,831		483		67		48		54		136		6,009			12,172

Equity attributable to Icahn Enterprises	4,772		1,290		1,832		52		174		444		129		171		(3,025		)	5,839
Equity attributable to non-controlling interests	4,742		1,031		—		17		—		—		—		23		—			5,813
Total equity	9,514		2,321		1,832		69		174		444		129		194		(3,025		)	11,652
Total liabilities and equity	$	10,691	$	4,688	$	3,663	$	552	$	241	$	492	$	183	$	330	$	2,984		$	23,824



	December 31, 2018
	Investment		Energy		Automotive		Food Packaging		Metals		Real Estate		Home Fashion		Mining		Holding Company			Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	5	$	668	$	43	$	46	$	20	$	39	$	1	$	—	$	1,834		$	2,656
Cash held at consolidated affiliated partnerships and restricted cash	2,648		—		—		1		1		26		2		—		4			2,682
Investments	6,867		84		59		—		—		15		—		—		1,312			8,337
Accounts receivable, net	—		169		149		74		48		3		31		—		—			474
Inventories, net	—		380		1,203		93		39		—		64		—		—			1,779
Property, plant and equipment, net	—		3,027		941		169		115		367		69		—		—			4,688
Goodwill and intangible assets, net	—		278		412		32		2		24		—		—		—			748
Assets held for sale	—		33		—		—		1		—		—		299		—			333
Other assets	1,230		192		217		96		7		34		5		—		11			1,792
Total assets	$	10,750	$	4,831	$	3,024	$	511	$	233	$	508	$	172	$	299	$	3,161		$	23,489
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	181	$	1,043	$	905	$	164	$	56	$	41	$	35	$	—	$	178		$	2,603
Securities sold, not yet purchased, at fair value	468		—		—		—		—		—		—		—		—			468
Liabilities held for sale	—		—		—		—		—		—		—		112		—			112
Debt	—		1,170		372		273		—		2		4		—		5,505			7,326
Total liabilities	649		2,213		1,277		437		56		43		39		112		5,683			10,509

Equity attributable to Icahn Enterprises	5,066		1,274		1,747		55		177		465		133		165		(2,522		)	6,560
Equity attributable to non-controlling interests	5,035		1,344		—		19		—		—		—		22		—			6,420
Total equity	10,101		2,618		1,747		74		177		465		133		187		(2,522		)	12,980
Total liabilities and equity	$	10,750	$	4,831	$	3,024	$	511	$	233	$	508	$	172	$	299	$	3,161		$	23,489



	Three Months Ended March 31,
	2019		2018
	(in millions)
Petroleum products	$	1,394	$	1,457
Nitrogen fertilizer products	92		80
	$	1,486	$	1,537