Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2021

Disaggregation of Revenue [Line Items]

Condensed statements of operations by reporting segment

	Three Months Ended September 30, 2021
	Investment		Energy		Automotive		Food Packaging		Metals		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	1,883	$	440	$	104	$	144	$	17	$	51	$	18	$	—	$	2,657
Other revenues from operations		—		—		151		—		—		13		—		1		—		165
Net loss from investment activities		(148)		(1)		—		—		—		—		—		—		(28)		(177)
Interest and dividend income		33		—		—		—		—		—		—		—		1		34
Other (loss) income, net		(16)		1		(17)		(1)		—		—		—		—		—		(33)
		(131)		1,883		574		103		144		30		51		19		(27)		2,646
Expenses:
Cost of goods sold		—		1,686		301		85		132		12		42		12		—		2,270
Other expenses from operations		—		—		117		—		—		13		—		—		—		130
Selling, general and administrative		3		37		226		13		5		5		12		12		4		317
Restructuring, net		—		—		1		—		—		—		—		—		—		1
Impairment		—		—		—		—		—		—		—		—		—		—
Interest expense		53		23		1		2		—		—		—		—		79		158
		56		1,746		646		100		137		30		54		24		83		2,876
(Loss) income before income tax (expense) benefit		(187)		137		(72)		3		7		—		(3)		(5)		(110)		(230)
Income tax (expense) benefit		—		(43)		17		(2)		—		—		—		—		47		19
Net (loss) income		(187)		94		(55)		1		7		—		(3)		(5)		(63)		(211)
Less: net (loss) income attributable to non-controlling interests		(103)		40		—		—		—		—		—		—		—		(63)
Net (loss) income attributable to Icahn Enterprises	$	(84)	$	54	$	(55)	$	1	$	7	$	—	$	(3)	$	(5)	$	(63)	$	(148)
Supplemental information:
Capital expenditures	$	—	$	62	$	13	$	3	$	1	$	1	$	1	$	—	$	—	$	81
Depreciation and amortization	$	—	$	83	$	22	$	7	$	3	$	2	$	1	$	7	$	1	$	126

	Three Months Ended September 30, 2020
	Investment		Energy		Automotive		Food Packaging		Metals		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	1,005	$	513	$	105	$	83	$	5	$	53	$	—	$	—	$	1,764
Other revenues from operations		—		—		147		—		—		16		—		—		—		163
Net loss from investment activities		(1,166)		(68)		—		—		—		—		—		—		(25)		(1,259)
Interest and dividend income		38		3		—		—		—		1		—		—		4		46
Other (loss) income, net		(2)		3		(2)		1		2		7		—		—		—		9
		(1,130)		943		658		106		85		29		53		—		(21)		723
Expenses:
Cost of goods sold		—		1,040		351		84		78		4		42		—		—		1,599
Other expenses from operations		—		—		115		—		—		12		—		—		—		127
Selling, general and administrative		2		27		223		14		3		5		10		—		6		290
Restructuring, net		—		—		1		—		—		—		—		—		—		1
Impairment		—		—		—		—		1		—		—		—		—		1
Interest expense		51		31		2		3		—		—		—		—		84		171
		53		1,098		692		101		82		21		52		—		90		2,189
(Loss) income before income tax benefit (expense)		(1,183)		(155)		(34)		5		3		8		1		—		(111)		(1,466)
Income tax benefit (expense)		—		35		8		(1)		—		—		—		—		24		66
Net (loss) income		(1,183)		(120)		(26)		4		3		8		1		—		(87)		(1,400)
Less: net (loss) income attributable to non-controlling interests		(640)		(47)		—		1		—		—		—		—		—		(686)
Net (loss) income attributable to Icahn Enterprises	$	(543)	$	(73)	$	(26)	$	3	$	3	$	8	$	1	$	—	$	(87)	$	(714)
Supplemental information:
Capital expenditures	$	—	$	24	$	9	$	4	$	1	$	1	$	1	$	—	$	—	$	40
Depreciation and amortization	$	—	$	86	$	24	$	6	$	4	$	4	$	2	$	—	$	—	$	126

	Nine Months Ended September 30, 2021
	Investment		Energy		Automotive		Food Packaging		Metals		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	5,129	$	1,377	$	311	$	417	$	45	$	143	$	65	$	—	$	7,487
Other revenues from operations		—		—		449		—		—		29		—		3		—		481
Net gain (loss) from investment activities		966		82		—		—		—		—		—		—		(13)		1,035
Interest and dividend income		90		—		—		—		—		—		—		—		4		94
Other (loss) income, net		(55)		1		(20)		(9)		1		—		—		—		3		(79)
		1,001		5,212		1,806		302		418		74		143		68		(6)		9,018
Expenses:
Cost of goods sold		—		5,022		959		253		384		34		117		38		—		6,807
Other expenses from operations		—		—		345		—		—		29		—		—		—		374
Selling, general and administrative		11		106		668		37		14		16		34		29		22		937
Restructuring, net		—		—		6		—		—		—		—		—		—		6
Impairment		—		—		—		—		—		—		—		—		—		—
Interest expense		170		84		7		5		1		—		1		—		243		511
		181		5,212		1,985		295		399		79		152		67		265		8,635
Income (loss) before income tax benefit (expense)		820		—		(179)		7		19		(5)		(9)		1		(271)		383
Income tax benefit (expense)		—		13		40		(5)		—		—		—		—		(105)		(57)
Net income (loss)		820		13		(139)		2		19		(5)		(9)		1		(376)		326
Less: net income (loss) attributable to non-controlling interests		445		3		—		—		—		—		—		—		—		448
Net income (loss) attributable to Icahn Enterprises	$	375	$	10	$	(139)	$	2	$	19	$	(5)	$	(9)	$	1	$	(376)	$	(122)
Supplemental information:
Capital expenditures	$	—	$	188	$	33	$	9	$	2	$	5	$	2	$	—	$	—	$	239
Depreciation and amortization	$	—	$	253	$	66	$	21	$	11	$	7	$	5	$	21	$	1	$	385

	Nine Months Ended September 30, 2020
	Investment		Energy		Automotive		Food Packaging		Metals		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	2,811	$	1,468	$	307	$	203	$	22	$	140	$	—	$	—	$	4,951
Other revenues from operations		—		—		414		—		—		46		—		—		—		460
Net loss from investment activities		(1,893)		(20)		—		—		—		—		—		—		(239)		(2,152)
Interest and dividend income		107		10		—		—		—		1		—		—		17		135
Other (loss) income, net		(7)		(7)		(7)		(9)		2		7		3		—		(4)		(22)
		(1,793)		2,794		1,875		298		205		76		143		—		(226)		3,372
Expenses:
Cost of goods sold		—		2,934		1,036		244		202		17		111		—		—		4,544
Other expenses from operations		—		—		339		—		—		30		—		—		—		369
Selling, general and administrative		(1)		88		671		38		11		31		30		—		20		888
Restructuring, net		—		—		8		—		—		—		—		—		—		8
Impairment		—		—		—		—		1		2		3		—		—		6
Interest expense		145		93		9		10		1		—		1		—		258		517
		144		3,115		2,063		292		215		80		145		—		278		6,332
(Loss) income before income tax benefit (expense)		(1,937)		(321)		(188)		6		(10)		(4)		(2)		—		(504)		(2,960)
Income tax benefit (expense)		—		85		39		(3)		—		—		—		—		(3)		118
Net (loss) income		(1,937)		(236)		(149)		3		(10)		(4)		(2)		—		(507)		(2,842)
Less: net loss attributable to non-controlling interests		(947)		(96)		—		—		—		—		—		—		—		(1,043)
Net (loss) income attributable to Icahn Enterprises	$	(990)	$	(140)	$	(149)	$	3	$	(10)	$	(4)	$	(2)	$	—	$	(507)	$	(1,799)
Supplemental information:
Capital expenditures	$	—	$	101	$	25	$	10	$	3	$	10	$	4	$	—	$	2	$	155
Depreciation and amortization	$	—	$	256	$	72	$	19	$	13	$	13	$	6	$	—	$	—	$	379

Condensed balance sheets by reporting segment

	September 30, 2021
	Investment		Energy		Automotive		Food Packaging		Metals		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	19	$	566	$	48	$	10	$	—	$	30	$	4	$	11	$	1,257	$	1,945
Cash held at consolidated affiliated partnerships and restricted cash		1,636		7		19		—		1		9		—		—		75		1,747
Investments		9,653		83		12		—		—		15		—		—		134		9,897
Accounts receivable, net		—		240		112		88		90		12		35		21		—		598
Inventories, net		—		422		928		95		37		—		95		13		—		1,590
Property, plant and equipment, net		—		2,765		830		145		77		309		62		—		6		4,194
Goodwill and intangible assets, net		—		225		364		28		8		—		21		261		—		907
Other assets		5,988		261		554		100		25		108		16		7		36		7,095
Total assets	$	17,296	$	4,569	$	2,867	$	466	$	238	$	483	$	233	$	313	$	1,508	$	27,973
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	2,107	$	1,540	$	1,036	$	159	$	73	$	45	$	65	$	50	$	222	$	5,297
Securities sold, not yet purchased, at fair value		4,957		—		—		—		—		—		—		—		—		4,957
Debt		—		1,676		16		154		18		2		36		—		5,810		7,712
Total liabilities		7,064		3,216		1,052		313		91		47		101		50		6,032		17,966
Equity attributable to Icahn Enterprises		4,660		701		1,815		140		147		436		132		263		(4,524)		3,770
Equity attributable to non-controlling interests		5,572		652		—		13		—		—		—		—		—		6,237
Total equity		10,232		1,353		1,815		153		147		436		132		263		(4,524)		10,007
Total liabilities and equity	$	17,296	$	4,569	$	2,867	$	466	$	238	$	483	$	233	$	313	$	1,508	$	27,973

	December 31, 2020
	Investment		Energy		Automotive		Food Packaging		Metals		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	14	$	667	$	25	$	16	$	1	$	21	$	2	$	8	$	925	$	1,679
Cash held at consolidated affiliated partnerships and restricted cash		1,558		7		20		—		2		8		6		—		11		1,612
Investments		8,239		253		40		—		—		15		—		—		366		8,913
Accounts receivable, net		—		178		109		88		63		10		33		20		—		501
Inventories, net		—		298		1,080		89		22		—		81		10		—		1,580
Property, plant and equipment, net		—		2,747		857		160		82		310		65		—		7		4,228
Goodwill and intangible assets, net		—		238		372		31		9		1		21		282		—		954
Other assets		4,308		335		582		103		38		121		19		6		10		5,522
Total assets	$	14,119	$	4,723	$	3,085	$	487	$	217	$	486	$	227	$	326	$	1,319	$	24,989
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	2,256	$	1,189	$	1,163	$	182	$	73	$	45	$	65	$	64	$	114	$	5,151
Securities sold, not yet purchased, at fair value		2,521		—		—		—		—		—		—		—		—		2,521
Debt		—		1,691		368		151		16		1		21		—		5,811		8,059
Total liabilities		4,777		2,880		1,531		333		89		46		86		64		5,925		15,731
Equity attributable to Icahn Enterprises		4,283		1,039		1,554		142		128		440		141		262		(4,606)		3,383
Equity attributable to non-controlling interests		5,059		804		—		12		—		—		—		—		—		5,875
Total equity		9,342		1,843		1,554		154		128		440		141		262		(4,606)		9,258
Total liabilities and equity	$	14,119	$	4,723	$	3,085	$	487	$	217	$	486	$	227	$	326	$	1,319	$	24,989

Energy Segment

Disaggregation of Revenue [Line Items]

Disaggregation of revenue

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
	(in millions)
Petroleum products	$	1,738	$	926	$	4,785	$	2,551
Nitrogen fertilizer products		145		79		344		260
	$	1,883	$	1,005	$	5,129	$	2,811

Automotive Segment

Disaggregation of Revenue [Line Items]

Disaggregation of revenue

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
	(in millions)
Automotive services	$	355	$	327	$	1,024	$	913
Aftermarket parts sales		236		333		802		969
	$	591	$	660	$	1,826	$	1,882