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 |
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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 |
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