Schedule I

12 Months Ended

Dec. 31, 2023

Icahn Enterprises (Parent)

Condensed Financial Statements, Captions [Line Items]

Condensed financial information of parent company

SCHEDULE I

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED BALANCE SHEETS

	December 31,
	2023		2022
	(in millions, except unit amounts)
ASSETS
Investments in subsidiaries, net	$	8,092	$	9,260
Total Assets	$	8,092	$	9,260
LIABILITIES AND EQUITY
Accrued expenses and other liabilities	$	37	$	51
Debt		4,847		5,309
		4,884		5,360
Commitments and contingencies (Note 3)
Equity:
Limited partners: Depositary units: 429,033,241 units issued and outstanding at December 31, 2023 and 353,572,182 units issued and outstanding at December 31, 2022		3,969		4,647
General partner		(761)		(747)
Total equity		3,208		3,900
Total Liabilities and Equity	$	8,092	$	9,260

See notes to condensed financial statements.

SCHEDULE I

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED STATEMENTS OF OPERATIONS

	Year Ended December 31,
	2023		2022		2021
	(in millions)
Interest expense	$	(286)	$	(290)	$	(323)
Gain (loss) on extinguishment of debt		13		(1)		3
Equity in (loss) gain of subsidiaries		(411)		108		(198)
Net loss	$	(684)	$	(183)	$	(518)
Net loss allocated to:
Limited partners	$	(670)	$	(179)	$	(604)
General partner		(14)		(4)		86
	$	(684)	$	(183)	$	(518)

See notes to condensed financial statements.

SCHEDULE I

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2023		2022		2021
	(in millions)
Cash flows from operating activities:
Net loss	$	(684)	$	(183)	$	(518)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity in (gain) loss of subsidiary		411		(108)		198
(Loss) gain on extinguishment of debt		(13)		(1)		(3)
Other, net		(3)		(14)		(15)
Net cash used in operating activities		(289)		(306)		(338)
Cash flows from investing activities:
Net investment in and advances from subsidiaries		629		264		(366)
Net cash provided by (used in) by investing activities		629		264		(366)
Cash flows from financing activities:
Partnership distributions		(307)		(226)		(134)
Partnership contributions		185		768		835
Proceeds from borrowings		699		—		1,214
Repayments of borrowings		(1,159)		(500)		(1,205)
Investment segment distributions		242		—		—
Debt issuance costs and other		—		—		(6)
Net cash provided by (used in) financing activities		(340)		42		704
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		—		—		—
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period		—		—		—
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period	$	—	$	—	$	—

See notes to condensed financial statements.

SCHEDULE I

ICAHN ENTERPRISES L.P.

(Parent Company)

NOTES TO CONDENSED FINANCIAL STATEMENTS

1. Description of Business and Basis of Presentation

Icahn Enterprises, L.P. (“Icahn Enterprises”) is a master limited partnership formed in Delaware on February 17, 1987. We own a 99% limited partner interest in Icahn Enterprises Holdings L.P. (“Icahn Enterprises Holdings”). Icahn Enterprises Holdings and its subsidiaries own substantially all of our assets and liabilities and conduct substantially all of our operations. Icahn Enterprises G.P. Inc., our sole general partner, which is owned and controlled by Carl C. Icahn, owns a 1% general partner interest in both us and Icahn Enterprises Holdings, representing an aggregate 1.99% general partner interest in us and Icahn Enterprises Holdings. As of December 31, 2023, Icahn Enterprises is engaged in the following continuing operating businesses: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma. In addition, we operated a Metals business until sold in December 2021.

For the years ended December 31, 2023, 2022 and 2021, Icahn Enterprises received (paid) $629 million, $264 million and $(366) million, respectively, for net investment in and advances from subsidiaries.

The condensed financial statements of Icahn Enterprises should be read in conjunction with the consolidated financial statements and notes thereto included in Item 8 of this Report.

2. Debt

See Note 13, “Debt,” to the consolidated financial statements located in Item 8 of this Report. Icahn Enterprises’ Parent company debt consists of the following:

	December 31,
	2023		2022
	(in millions)
4.750% senior unsecured notes due 2024		—		1,103
6.375% senior unsecured notes due 2025		749		749
6.250% senior unsecured notes due 2026		1,238		1,250
5.250% senior unsecured notes due 2027		1,454		1,460
4.375% senior unsecured notes due 2029		708		747
9.750% senior unsecured notes due 2029		698		—
Total debt	$	4,847	$	5,309

In December 2023, Icahn Enterprises issued $700 million in aggregate principal amount of 9.750% senior unsecured notes due 2029 at par. The net proceeds, together with $376 million of cash and cash equivalents on hand, was used to satisfy and discharge the outstanding 4.750% senior unsecured notes due 2024, along with any accrued interest associated with the notes and related fees and expenses.

In February 2022, Icahn Enterprises repaid all of its outstanding $500 million aggregate principal amount of 6.750% senior unsecured notes due 2024 at par.

3. Commitments and Contingencies

See Note 19, “Commitments and Contingencies,” to the consolidated financial statements located in Item 8 of this Report.