Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2023

Disaggregation of Revenue [Line Items]

Schedule of Condensed Income Statement by Segment

Condensed Statements of Operations

	Three Months Ended June 30, 2023
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	2,237	$	248	$	117	$	13	$	46	$	23	$	—	$	2,684
Other revenues from operations		—		—		177		—		20		—		1		—		198
Net loss from investment activities		(500)		—		—		—		—		—		—		—		(500)
Interest and dividend income		134		8		—		—		—		—		—		25		167
Other (loss) income, net		(18)		3		3		1		1		—		1		—		(9)
		(384)		2,248		428		118		34		46		25		25		2,540
Expenses:
Cost of goods sold		—		1,990		173		90		8		35		14		—		2,310
Other expenses from operations		—		—		142		—		18		—		—		—		160
Selling, general and administrative		13		39		114		15		5		10		11		8		215
Credit loss on related party note receivable		—		—		—		—		—		—		—		116		116
Loss on deconsolidation of subsidiaries		—		—		—		—		—		—		—		20		20
Interest expense		38		22		1		3		—		—		—		72		136
		51		2,051		430		108		31		45		25		216		2,957
(Loss) income before income tax (expense) benefit		(435)		197		(2)		10		3		1		—		(191)		(417)
Income tax (expense) benefit		—		(41)		6		(5)		—		—		—		38		(2)
Net (loss) income		(435)		156		4		5		3		1		—		(153)		(419)
Less: net (loss) income attributable to non-controlling interests		(220)		70		—		—		—		—		—		—		(150)
Net (loss) income attributable to Icahn Enterprises	$	(215)	$	86	$	4	$	5	$	3	$	1	$	—	$	(153)	$	(269)
Supplemental information:
Capital expenditures	$	—	$	56	$	11	$	5	$	—	$	1	$	—	$	—	$	73
Depreciation and amortization	$	—	$	89	$	22	$	7	$	3	$	1	$	7	$	—	$	129

	Three Months Ended June 30, 2022
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	3,144	$	438	$	110	$	17	$	69	$	18	$	—	$	3,796
Other revenues from operations		—		—		183		—		13		—		1		—		197
Net (loss) from investment activities		(459)		—		—		—		—		—		—		17		(442)
Interest and dividend income		47		1		—		—		—		—		—		2		50
Other (loss) income, net		(18)		(75)		—		(6)		—		—		—		1		(98)
		(430)		3,070		621		104		30		69		19		20		3,503
Expenses:
Cost of goods sold		—		2,715		288		90		12		57		12		—		3,174
Other expenses from operations		—		—		134		—		14		—		—		—		148
Selling, general and administrative		10		43		219		13		3		11		10		6		315
Restructuring, net		—		—		—		—		—		—		—		—		—
Interest expense		53		24		—		2		—		1		—		71		151
		63		2,782		641		105		29		69		22		77		3,788
(Loss) income before income tax (expense) benefit		(493)		288		(20)		(1)		1		—		(3)		(57)		(285)
Income tax (expense) benefit		—		(61)		5		(2)		—		—		—		56		(2)
Net (loss) income		(493)		227		(15)		(3)		1		—		(3)		(1)		(287)
Less: net (loss) income attributable to non-controlling interests		(275)		117		—		(1)		—		—		—		—		(159)
Net (loss) income attributable to Icahn Enterprises	$	(218)	$	110	$	(15)	$	(2)	$	1	$	—	$	(3)	$	(1)	$	(128)
Supplemental information:
Capital expenditures	$	—	$	62	$	30	$	5	$	2	$	—	$	—	$	—	$	99
Depreciation and amortization	$	—	$	89	$	20	$	7	$	3	$	1	$	7	$	—	$	127

	Six Months Ended June 30, 2023
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	4,523	$	535	$	235	$	20	$	86	$	43	$	—	$	5,442
Other revenues from operations		—		—		347		—		36		—		2		—		385
Net loss from investment activities		(943)		—		—		—		—		—		—		—		(943)
Interest and dividend income		278		13		—		—		—		—		—		47		338
Other (loss) income, net		(46)		6		3		(6)		1		—		1		—		(41)
		(711)		4,542		885		229		57		86		46		47		5,181
Expenses:
Cost of goods sold		—		3,916		366		181		14		67		26		—		4,570
Other expenses from operations		—		—		287		—		31		—		—		—		318
Selling, general and administrative		16		85		246		29		9		20		24		15		444
Credit loss on related party note receivable		—		—		—		—		—		—		—		116		116
Loss on deconsolidation of subsidiary		—		—		—		—		—		—		—		246		246
Interest expense		83		45		1		6		—		—		—		143		278
		99		4,046		900		216		54		87		50		520		5,972
(Loss) before income tax (expense) benefit		(810)		496		(15)		13		3		(1)		(4)		(473)		(791)
Income tax (expense) benefit		—		(93)		6		(1)		—		—		—		102		14
Net (loss) income		(810)		403		(9)		12		3		(1)		(4)		(371)		(777)
Less: net (loss) income attributable to non-controlling interests		(424)		185		—		1		—		—		—		—		(238)
Net (loss) income attributable to Icahn Enterprises	$	(386)	$	218	$	(9)	$	11	$	3	$	(1)	$	(4)	$	(371)	$	(539)
Supplemental information:
Capital expenditures	$	—	$	100	$	21	$	7	$	2	$	1	$	—	$	—	$	131
Depreciation and amortization	$	—	$	173	$	41	$	14	$	6	$	3	$	14	$	—	$	251

	Six Months Ended June 30, 2022
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	5,517	$	845	$	211	$	34	$	124	$	33	$	—	$	6,764
Other revenues from operations		—		—		339		—		24		—		2		—		365
Net gain from investment activities		449		—		—		—		—		—		—		48		497
Interest and dividend income		87		1		—		—		—		—		—		4		92
Other (loss) income, net		(35)		(85)		2		(5)		—		—		1		—		(122)
		501		5,433		1,186		206		58		124		36		52		7,596
Expenses:
Cost of goods sold		—		4,838		555		171		22		102		24		—		5,712
Other expenses from operations		—		—		260		—		25				—		—		285
Selling, general and administrative		14		88		427		26		7		22		20		12		616
Interest expense		85		48		1		3		—		1		—		147		285
		99		4,974		1,243		200		54		125		44		159		6,898
Income (loss) before income tax benefit (expense)		402		459		(57)		6		4		(1)		(8)		(107)		698
Income tax (expense) benefit		—		(91)		14		(3)		—		—		—		(20)		(100)
Net income (loss)		402		368		(43)		3		4		(1)		(8)		(127)		598
Less: net income attributable to non-controlling interests		206		197		—		—		—		—		—		—		403
Net income (loss) attributable to Icahn Enterprises	$	196	$	171	$	(43)	$	3	$	4	$	(1)	$	(8)	$	(127)	$	195
Supplemental information:
Capital expenditures	$	—	$	88	$	51	$	9	$	6	$	—	$	—	$	—	$	154
Depreciation and amortization	$	—	$	172	$	40	$	14	$	6	$	3	$	14	$	—	$	249

Schedule of Condensed Financial Statements by Segment

	June 30, 2023
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	22	$	751	$	59	$	7	$	46	$	5	$	24	$	1,574	$	2,488
Cash held at consolidated affiliated partnerships and restricted cash		2,401		7		9		—		7		3		—		171		2,598
Investments		4,821		102		—		—		14		—		—		—		4,937
Accounts receivable, net		—		300		39		90		15		27		24		—		495
Inventories, net		—		524		260		111		—		90		30		—		1,015
Related party notes receivable		—		—		—		—		—		—		—		82		82
Property, plant and equipment, net		—		2,630		792		137		341		54		—		5		3,959
Goodwill and intangible assets, net		—		189		346		24		—		19		212		—		790
Other assets		4,644		298		469		104		96		17		5		217		5,850
Total assets	$	11,888	$	4,801	$	1,974	$	473	$	519	$	215	$	295	$	2,049	$	22,214
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,637	$	1,727	$	847	$	140	$	53	$	44	$	58	$	73	$	4,579
Securities sold, not yet purchased, at fair value		3,370		—		—		—		—		—		—		—		3,370
Debt		—		1,591		19		150		1		9		—		5,308		7,078
Total liabilities		5,007		3,318		866		290		54		53		58		5,381		15,027
Equity attributable to Icahn Enterprises		3,799		795		1,108		166		461		162		237		(3,332)		3,396
Equity attributable to non-controlling interests		3,082		688		—		17		4		—		—		—		3,791
Total equity		6,881		1,483		1,108		183		465		162		237		(3,332)		7,187
Total liabilities and equity	$	11,888	$	4,801	$	1,974	$	473	$	519	$	215	$	295	$	2,049	$	22,214

	December 31, 2022
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	19	$	510	$	32	$	9	$	26	$	5	$	16	$	1,720	$	2,337
Cash held at consolidated affiliated partnerships and restricted cash		2,455		7		10		—		8		3		—		66		2,549
Investments		6,719		76		—		—		14		—		—		—		6,809
Accounts receivable, net		—		358		99		87		12		24		26		—		606
Inventories, net		—		624		686		103		—		90		28		—		1,531
Property, plant and equipment, net		—		2,664		826		142		345		56		—		5		4,038
Goodwill and intangible assets, net		—		200		352		24		—		19		226		—		821
Other assets		8,041		296		527		110		102		16		6		125		9,223
Total assets	$	17,234	$	4,735	$	2,532	$	475	$	507	$	213	$	302	$	1,916	$	27,914
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,589	$	1,823	$	981	$	149	$	47	$	45	$	61	$	70	$	4,765
Securities sold, not yet purchased, at fair value		6,495		—		—		—		—		—		—		—		6,495
Debt		—		1,591		21		162		1		12		—		5,309		7,096
Total liabilities		8,084		3,414		1,002		311		48		57		61		5,379		18,356
Equity attributable to Icahn Enterprises		4,184		648		1,530		149		455		156		241		(3,463)		3,900
Equity attributable to non-controlling interests		4,966		673		—		15		4		—		—		—		5,658
Total equity		9,150		1,321		1,530		164		459		156		241		(3,463)		9,558
Total liabilities and equity	$	17,234	$	4,735	$	2,532	$	475	$	507	$	213	$	302	$	1,916	$	27,914

Energy Segment

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(in millions)
Petroleum products	$	2,054	$	2,900	$	4,114	$	5,050
Nitrogen fertilizer products		183		244		409		467
	$	2,237	$	3,144	$	4,523	$	5,517

Automotive Segment

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(in millions)
Automotive services	$	392	$	393	$	761	$	746
Aftermarket parts sales		20		215		92		416
	$	412	$	608	$	853	$	1,162