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Segment Reporting | 6 Months Ended
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Jun. 30, 2012
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting. As of June 30, 2012, our nine reporting segments are: (1) Investment; (2) Automotive; (3) Energy; (4) Gaming; (5) Railcar; (6) Food Packaging; (7) Metals; (8) Real Estate and (9) Home Fashion. In addition to our nine reporting segments, we present the results of the Holding Company which includes the unconsolidated results of Icahn Enterprises and Icahn Enterprises Holdings, and investment activity and expenses associated with the activities of the Holding Company. See Note 3, “Operating Units,” for a detailed description of each of our reporting segments. We assess and measure segment operating results based on net income attributable to Icahn Enterprises as disclosed below. Certain terms of financings for certain of our segments impose restrictions on the segments' ability to transfer funds to us, including restrictions on dividends, distributions, loans and other transactions. As described in Note 3, our Investment segment acquired a controlling interest in Tropicana on November 15, 2010 and, therefore, we consolidated the results of Tropicana effective November 15, 2010. As further described in Note 3, through a distribution-in-kind transaction from our Investment segment directly to us, we directly own the investment in Tropicana's common stock effective April 29, 2011. Through an additional distribution-in-kind transaction from our Investment segment directly to us, we directly owned the investment in Tropicana's Exit Facility effective June 30, 2011. Our management evaluates the aggregate performance of the Investment segment with all of its investments stated on a fair value basis, including its investment in Tropicana. Accordingly, although we are required to consolidate the results of Tropicana effective November 15, 2010 and separately report their results as part of our Gaming segment, the column representing our Investment segment's results include the investment in Tropicana on a fair value basis during the three months ended March 31, 2011. For such period, we eliminate the fair value effects of Tropicana in the column labeled “Eliminations.” Condensed statements of operations by reporting segment for the three and six months ended June 30, 2012 and 2011 are presented below:
| Three Months Ended June 30, 2012
| Investment |  | Automotive |  | Energy(1) |  | Gaming |  | Railcar |  | Food Packaging |  | Metals |  | Real Estate |  | Home Fashion |  | Holding Company |  | Consolidated
| (in millions)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | — |  |  | $ | 1,704 |  |  | $ | 1,412 |  |  | $ | — |  |  | $ | 135 |  |  | $ | 86 |  |  | $ | 303 |  |  | $ | 3 |  |  | $ | 64 |  |  | $ | — |  |  | $ | 3,707 |
Other revenues from operations | — |  |  | — |  |  | — |  |  | 164 |  |  | 20 |  |  | — |  |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 204 |
Net gain from investment activities | 280 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2 | ) |  | 278 |
Interest and dividend income | 14 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 17 |
Other (loss) income, net | 1 |  |  | 4 |  |  | (2 | ) |  | (6 | ) |  | — |  |  | (2 | ) |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | (1 | )
| 295 |  |  | 1,709 |  |  | 1,410 |  |  | 158 |  |  | 156 |  |  | 84 |  |  | 304 |  |  | 24 |  |  | 65 |  |  | — |  |  | 4,205 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | — |  |  | 1,450 |  |  | 1,238 |  |  | — |  |  | 107 |  |  | 67 |  |  | 311 |  |  | 1 |  |  | 55 |  |  | — |  |  | 3,229 |
Other expenses from operations | — |  |  | — |  |  | — |  |  | 82 |  |  | 14 |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | — |  |  | 108 |
Selling, general and administrative | 8 |  |  | 186 |  |  | 36 |  |  | 64 |  |  | 8 |  |  | 11 |  |  | 7 |  |  | 4 |  |  | 9 |  |  | 4 |  |  | 337 |
Restructuring | — |  |  | 8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 9 |
Impairment | — |  |  | 28 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 32 |
Interest expense | — |  |  | 35 |  |  | 9 |  |  | 4 |  |  | 5 |  |  | 5 |  |  | — |  |  | 1 |  |  | — |  |  | 69 |  |  | 128 |
| 8 |  |  | 1,707 |  |  | 1,283 |  |  | 152 |  |  | 134 |  |  | 83 |  |  | 318 |  |  | 18 |  |  | 67 |  |  | 73 |  |  | 3,843 |
Income (loss) before income tax (expense) benefit | 287 |  |  | 2 |  |  | 127 |  |  | 6 |  |  | 22 |  |  | 1 |  |  | (14 | ) |  | 6 |  |  | (2 | ) |  | (73 | ) |  | 362 |
Income tax (expense) benefit | — |  |  | 29 |  |  | (48 | ) |  | (2 | ) |  | (9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | 118 |  |  | 88 |
Net income (loss) | 287 |  |  | 31 |  |  | 79 |  |  | 4 |  |  | 13 |  |  | 1 |  |  | (14 | ) |  | 6 |  |  | (2 | ) |  | 45 |  |  | 450 |
Less: net income attributable to non-controlling interests | (171 | ) |  | (9 | ) |  | (22 | ) |  | (2 | ) |  | (6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (210 | )
Net income (loss) attributable to Icahn Enterprises | $ | 116 |  |  | $ | 22 |  |  | $ | 57 |  |  | $ | 2 |  |  | $ | 7 |  |  | $ | 1 |  |  | $ | (14 | ) |  | $ | 6 |  |  | $ | (2 | ) |  | $ | 45 |  |  | $ | 240 |
Supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | $ | — |  |  | $ | 93 |  |  | $ | 31 |  |  | $ | 11 |  |  | $ | 78 |  |  | $ | 11 |  |  | $ | 7 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 232 |
Depreciation and amortization(2) | $ | — |  |  | $ | 71 |  |  | $ | 30 |  |  | $ | 7 |  |  | $ | 6 |  |  | $ | 5 |  |  | $ | 6 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 133 |
| Three Months Ended June 30, 2011
| Investment |  | Automotive |  | Gaming |  | Railcar |  | Food Packaging |  | Metals |  | Real Estate |  | Home Fashion |  | Holding Company |  | Eliminations |  | Consolidated
| (in millions)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | — |  |  | $ | 1,800 |  |  | $ | — |  |  | $ | 94 |  |  | $ | 89 |  |  | $ | 288 |  |  | $ | 4 |  |  | $ | 82 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,357 |
Other revenues from operations | — |  |  | — |  |  | 145 |  |  | 18 |  |  | — |  |  | — |  |  | 20 |  |  | — |  |  | — |  |  | — |  |  | 183 |
Net gain from investment activities | 575 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15 |  |  | — |  |  | 590 |
Interest and dividend income | 26 |  |  | 2 |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2 | ) |  | 27 |
Other (loss) income, net | (19 | ) |  | 3 |  |  | — |  |  | (3 | ) |  | — |  |  | — |  |  | 1 |  |  | 2 |  |  | 1 |  |  | — |  |  | (15 | )
| 582 |  |  | 1,805 |  |  | 145 |  |  | 110 |  |  | 89 |  |  | 288 |  |  | 25 |  |  | 84 |  |  | 16 |  |  | (2 | ) |  | 3,142 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | — |  |  | 1,501 |  |  | — |  |  | 86 |  |  | 66 |  |  | 278 |  |  | 3 |  |  | 75 |  |  | — |  |  | — |  |  | 2,009 |
Other expenses from operations | — |  |  | — |  |  | 79 |  |  | 13 |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | — |  |  | — |  |  | 104 |
Selling, general and administrative | 9 |  |  | 185 |  |  | 61 |  |  | 5 |  |  | 11 |  |  | 7 |  |  | 4 |  |  | 15 |  |  | 7 |  |  | — |  |  | 304 |
Restructuring | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Impairment | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |
Interest expense | 6 |  |  | 35 |  |  | 3 |  |  | 6 |  |  | 5 |  |  | — |  |  | 2 |  |  | 1 |  |  | 55 |  |  | — |  |  | 113 |
| 15 |  |  | 1,724 |  |  | 143 |  |  | 110 |  |  | 82 |  |  | 285 |  |  | 21 |  |  | 92 |  |  | 62 |  |  | — |  |  | 2,534 |
Income (loss) before income tax (expense) benefit | 567 |  |  | 81 |  |  | 2 |  |  | — |  |  | 7 |  |  | 3 |  |  | 4 |  |  | (8 | ) |  | (46 | ) |  | (2 | ) |  | 608 |
Income tax (expense) benefit | — |  |  | (17 | ) |  | 1 |  |  | — |  |  | (2 | ) |  | — |  |  | — |  |  | — |  |  | (6 | ) |  | — |  |  | (24 | )
Net income (loss) | 567 |  |  | 64 |  |  | 3 |  |  | — |  |  | 5 |  |  | 3 |  |  | 4 |  |  | (8 | ) |  | (52 | ) |  | (2 | ) |  | 584 |
Less: net (income) loss attributable to non-controlling interests | (278 | ) |  | (18 | ) |  | (2 | ) |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 1 |  |  | (295 | )
Net income (loss) attributable to Icahn Enterprises | $ | 289 |  |  | $ | 46 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 3 |  |  | $ | 4 |  |  | $ | (5 | ) |  | $ | (52 | ) |  | $ | (1 | ) |  | $ | 289 |
Supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | $ | — |  |  | $ | 77 |  |  | $ | 10 |  |  | $ | 1 |  |  | $ | 9 |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 103 |
Depreciation and amortization(2) | $ | — |  |  | $ | 71 |  |  | $ | 8 |  |  | $ | 6 |  |  | $ | 4 |  |  | $ | 5 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 102 |
| Six Months Ended June 30, 2012
| Investment |  | Automotive |  | Energy(1) |  | Gaming |  | Railcar |  | Food Packaging |  | Metals |  | Real Estate |  | Home Fashion |  | Holding Company |  | Consolidated
| (in millions)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | — |  |  | $ | 3,468 |  |  | $ | 1,412 |  |  | $ | — |  |  | $ | 299 |  |  | $ | 169 |  |  | $ | 635 |  |  | $ | 3 |  |  | $ | 120 |  |  | $ | — |  |  | $ | 6,106 |
Other revenues from operations | — |  |  | — |  |  | — |  |  | 319 |  |  | 37 |  |  | — |  |  | — |  |  | 40 |  |  | — |  |  | — |  |  | 396 |
Net gain from investment activities | 330 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | 336 |
Interest and dividend income | 37 |  |  | 2 |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 42 |
Other (loss) income, net | (1 | ) |  | 13 |  |  | (2 | ) |  | (8 | ) |  | — |  |  | (2 | ) |  | 1 |  |  | 2 |  |  | 2 |  |  | 4 |  |  | 9 |
| 366 |  |  | 3,483 |  |  | 1,410 |  |  | 311 |  |  | 338 |  |  | 167 |  |  | 636 |  |  | 45 |  |  | 122 |  |  | 11 |  |  | 6,889 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | — |  |  | 2,937 |  |  | 1,238 |  |  | — |  |  | 244 |  |  | 130 |  |  | 642 |  |  | 1 |  |  | 109 |  |  | — |  |  | 5,301 |
Other expenses from operations | — |  |  | — |  |  | — |  |  | 162 |  |  | 28 |  |  | — |  |  | — |  |  | 24 |  |  | — |  |  | — |  |  | 214 |
Selling, general and administrative | 11 |  |  | 387 |  |  | 36 |  |  | 126 |  |  | 14 |  |  | 24 |  |  | 14 |  |  | 7 |  |  | 19 |  |  | 8 |  |  | 646 |
Restructuring | — |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 16 |
Impairment | — |  |  | 29 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 34 |
Interest expense | 2 |  |  | 71 |  |  | 9 |  |  | 6 |  |  | 10 |  |  | 10 |  |  | — |  |  | 2 |  |  | — |  |  | 135 |  |  | 245 |
| 13 |  |  | 3,438 |  |  | 1,283 |  |  | 296 |  |  | 296 |  |  | 164 |  |  | 656 |  |  | 34 |  |  | 133 |  |  | 143 |  |  | 6,456 |
Income (loss) before income tax (expense) benefit | 353 |  |  | 45 |  |  | 127 |  |  | 15 |  |  | 42 |  |  | 3 |  |  | (20 | ) |  | 11 |  |  | (11 | ) |  | (132 | ) |  | 433 |
Income tax (expense) benefit | — |  |  | 20 |  |  | (48 | ) |  | (1 | ) |  | (17 | ) |  | (1 | ) |  | 4 |  |  | — |  |  | — |  |  | 161 |  |  | 118 |
Net income (loss) | 353 |  |  | 65 |  |  | 79 |  |  | 14 |  |  | 25 |  |  | 2 |  |  | (16 | ) |  | 11 |  |  | (11 | ) |  | 29 |  |  | 551 |
Less: net income attributable to non-controlling interests | (205 | ) |  | (19 | ) |  | (22 | ) |  | (4 | ) |  | (11 | ) |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (262 | )
Net income (loss) attributable to Icahn Enterprises | $ | 148 |  |  | $ | 46 |  |  | $ | 57 |  |  | $ | 10 |  |  | $ | 14 |  |  | $ | 1 |  |  | $ | (16 | ) |  | $ | 11 |  |  | $ | (11 | ) |  | $ | 29 |  |  | $ | 289 |
Supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | $ | — |  |  | $ | 223 |  |  | $ | 31 |  |  | $ | 23 |  |  | $ | 119 |  |  | $ | 23 |  |  | $ | 9 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 429 |
Depreciation and amortization(2) | $ | — |  |  | $ | 140 |  |  | $ | 30 |  |  | $ | 16 |  |  | $ | 11 |  |  | $ | 9 |  |  | $ | 12 |  |  | $ | 11 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 233 |
| Six Months Ended June 30, 2011
| Investment |  | Automotive |  | Gaming |  | Railcar |  | Food Packaging |  | Metals |  | Real Estate |  | Home Fashion |  | Holding Company |  | Eliminations |  | Consolidated
| (in millions)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | — |  |  | $ | 3,524 |  |  | $ | — |  |  | $ | 163 |  |  | $ | 169 |  |  | $ | 567 |  |  | $ | 5 |  |  | $ | 180 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,608 |
Other revenues from operations | — |  |  | — |  |  | 302 |  |  | 34 |  |  | — |  |  | — |  |  | 40 |  |  | — |  |  | — |  |  | — |  |  | 376 |
Net gain from investment activities | 1,191 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25 |  |  | (9 | ) |  | 1,207 |
Interest and dividend income | 60 |  |  | 3 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | (5 | ) |  | 61 |
Other (loss) income, net | (48 | ) |  | 12 |  |  | — |  |  | (5 | ) |  | — |  |  | — |  |  | 1 |  |  | 3 |  |  | 5 |  |  | — |  |  | (32 | )
| 1,203 |  |  | 3,539 |  |  | 302 |  |  | 194 |  |  | 169 |  |  | 567 |  |  | 46 |  |  | 183 |  |  | 31 |  |  | (14 | ) |  | 6,220 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | — |  |  | 2,946 |  |  | — |  |  | 153 |  |  | 127 |  |  | 539 |  |  | 4 |  |  | 165 |  |  | — |  |  | — |  |  | 3,934 |
Other expenses from operations | — |  |  | — |  |  | 163 |  |  | 26 |  |  | — |  |  | — |  |  | 23 |  |  | — |  |  | — |  |  | — |  |  | 212 |
Selling, general and administrative | 22 |  |  | 374 |  |  | 129 |  |  | 12 |  |  | 22 |  |  | 13 |  |  | 8 |  |  | 31 |  |  | 12 |  |  | — |  |  | 623 |
Restructuring | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 4 |
Impairment | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |
Interest expense | 9 |  |  | 70 |  |  | 5 |  |  | 11 |  |  | 10 |  |  | — |  |  | 4 |  |  | 1 |  |  | 112 |  |  | — |  |  | 222 |
| 31 |  |  | 3,394 |  |  | 297 |  |  | 202 |  |  | 159 |  |  | 552 |  |  | 39 |  |  | 200 |  |  | 124 |  |  | — |  |  | 4,998 |
Income (loss) before income tax (expense) benefit | 1,172 |  |  | 145 |  |  | 5 |  |  | (8 | ) |  | 10 |  |  | 15 |  |  | 7 |  |  | (17 | ) |  | (93 | ) |  | (14 | ) |  | 1,222 |
Income tax (expense) benefit | — |  |  | (31 | ) |  | 3 |  |  | 3 |  |  | (3 | ) |  | (4 | ) |  | — |  |  | — |  |  | (10 | ) |  | — |  |  | (42 | )
Net income (loss) | 1,172 |  |  | 114 |  |  | 8 |  |  | (5 | ) |  | 7 |  |  | 11 |  |  | 7 |  |  | (17 | ) |  | (103 | ) |  | (14 | ) |  | 1,180 |
Less: net (income) loss attributable to non-controlling interests | (630 | ) |  | (31 | ) |  | (5 | ) |  | 2 |  |  | (2 | ) |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 9 |  |  | (651 | )
Net income (loss) attributable to Icahn Enterprises | $ | 542 |  |  | $ | 83 |  |  | $ | 3 |  |  | $ | (3 | ) |  | $ | 5 |  |  | $ | 11 |  |  | $ | 7 |  |  | $ | (11 | ) |  | $ | (103 | ) |  | $ | (5 | ) |  | $ | 529 |
Supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | $ | — |  |  | $ | 177 |  |  | $ | 13 |  |  | $ | 2 |  |  | $ | 14 |  |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 218 |
Depreciation and amortization(2) | $ | — |  |  | $ | 139 |  |  | $ | 18 |  |  | $ | 12 |  |  | $ | 8 |  |  | $ | 10 |  |  | $ | 11 |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |  | $ | 203 |
(1) We consolidated CVR effective May 4, 2012. (2) Excludes amounts related to the amortization of debt discounts and premiums. Condensed balance sheets by reporting segment as of June 30, 2012 and December 31, 2011 are presented below:
| June 30, 2012
| Investment |  | Automotive |  | Energy |  | Gaming |  | Railcar |  | Food Packaging | Metals |  | Real Estate |  | Home Fashion |  | Holding Company |  | Consolidated
| (in millions)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 13 |  |  | $ | 716 |  |  | $ | 693 |  |  | $ | 225 |  |  | $ | 250 |  |  | $ | 38 |  | $ | 29 |  |  | $ | 54 |  |  | $ | 63 |  |  | $ | 1,128 |  |  | $ | 3,209 |
Cash held at consolidated affiliated partnerships and restricted cash | 1,346 |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | 1 |  | 3 |  |  | 2 |  |  | — |  |  | 2 |  |  | 1,372 |
Investments | 4,982 |  |  | 248 |  |  | — |  |  | 35 |  |  | 46 |  |  | — |  | — |  |  | — |  |  | 14 |  |  | 61 |  |  | 5,386 |
Accounts receivable, net | — |  |  | 1,379 |  |  | 214 |  |  | 17 |  |  | 20 |  |  | 58 |  | 121 |  |  | 7 |  |  | 49 |  |  | — |  |  | 1,865 |
Inventories, net | — |  |  | 988 |  |  | 514 |  |  | — |  |  | 110 |  |  | 59 |  | 128 |  |  | — |  |  | 63 |  |  | — |  |  | 1,862 |
Property, plant and equipment, net | — |  |  | 1,862 |  |  | 2,588 |  |  | 422 |  |  | 302 |  |  | 145 |  | 138 |  |  | 673 |  |  | 87 |  |  | 3 |  |  | 6,220 |
Goodwill and intangible assets, net | — |  |  | 1,779 |  |  | 1,249 |  |  | 69 |  |  | 7 |  |  | 13 |  | 28 |  |  | 83 |  |  | 3 |  |  | — |  |  | 3,231 |
Other assets | 133 |  |  | 320 |  |  | 104 |  |  | 58 |  |  | 30 |  |  | 30 |  | 44 |  |  | 16 |  |  | 30 |  |  | 104 |  |  | 869 |
Total assets | $ | 6,474 |  |  | $ | 7,292 |  |  | $ | 5,362 |  |  | $ | 844 |  |  | $ | 765 |  |  | $ | 344 |  | $ | 491 |  |  | $ | 835 |  |  | $ | 309 |  |  | $ | 1,298 |  |  | $ | 24,014 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 334 |  |  | $ | 1,855 |  |  | $ | 1,442 |  |  | $ | 142 |  |  | $ | 146 |  |  | $ | 68 |  | $ | 74 |  |  | $ | 20 |  |  | $ | 38 |  |  | $ | 133 |  |  | $ | 4,252 |
Securities sold, not yet purchased, at fair value | 548 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | 548 |
Due to brokers | 4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |
Post-employment benefit liability | — |  |  | 1,237 |  |  | — |  |  | — |  |  | 9 |  |  | 54 |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 1,303 |
Debt | — |  |  | 2,788 |  |  | 907 |  |  | 171 |  |  | 275 |  |  | 216 |  | 4 |  |  | 74 |  |  | — |  |  | 3,770 |  |  | 8,205 |
Total liabilities | 886 |  |  | 5,880 |  |  | 2,349 |  |  | 313 |  |  | 430 |  |  | 338 |  | 81 |  |  | 94 |  |  | 38 |  |  | 3,903 |  |  | 14,312 |
Equity attributable to Icahn Enterprises | 2,076 |  |  | 1,019 |  |  | 2,081 |  |  | 355 |  |  | 186 |  |  | 1 |  | 410 |  |  | 741 |  |  | 271 |  |  | (2,605 | ) |  | 4,535 |
Equity attributable to non-controlling interests | 3,512 |  |  | 393 |  |  | 932 |  |  | 176 |  |  | 149 |  |  | 5 |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,167 |
Total equity | 5,588 |  |  | 1,412 |  |  | 3,013 |  |  | 531 |  |  | 335 |  |  | 6 |  | 410 |  |  | 741 |  |  | 271 |  |  | (2,605 | ) |  | 9,702 |
Total liabilities and equity | $ | 6,474 |  |  | $ | 7,292 |  |  | $ | 5,362 |  |  | $ | 844 |  |  | $ | 765 |  |  | $ | 344 |  | $ | 491 |  |  | $ | 835 |  |  | $ | 309 |  |  | $ | 1,298 |  |  | $ | 24,014 |
| December 31, 2011
| Investment |  | Automotive |  | Gaming |  | Railcar |  | Food Packaging |  | Metals |  | Real Estate |  | Home Fashion |  | Holding Company |  | Consolidated
| (in millions)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 7 |  |  | $ | 953 |  |  | $ | 150 |  |  | $ | 307 |  |  | $ | 66 |  |  | $ | 7 |  |  | $ | 216 |  |  | $ | 55 |  |  | $ | 517 |  |  | $ | 2,278 |
Cash held at consolidated affiliated partnerships and restricted cash | 4,941 |  |  | — |  |  | 16 |  |  | — |  |  | 2 |  |  | 2 |  |  | 2 |  |  | — |  |  | 16 |  |  | 4,979 |
Investments | 8,448 |  |  | 228 |  |  | 34 |  |  | 45 |  |  | — |  |  | — |  |  | — |  |  | 13 |  |  | 170 |  |  | 8,938 |
Accounts receivable, net | — |  |  | 1,169 |  |  | 19 |  |  | 34 |  |  | 53 |  |  | 98 |  |  | 5 |  |  | 46 |  |  | — |  |  | 1,424 |
Inventories, net | — |  |  | 956 |  |  | — |  |  | 96 |  |  | 53 |  |  | 163 |  |  | — |  |  | 76 |  |  | — |  |  | 1,344 |
Property, plant and equipment, net | — |  |  | 1,855 |  |  | 416 |  |  | 194 |  |  | 131 |  |  | 134 |  |  | 679 |  |  | 93 |  |  | 3 |  |  | 3,505 |
Goodwill and intangible assets, net | — |  |  | 1,808 |  |  | 77 |  |  | 7 |  |  | 14 |  |  | 30 |  |  | 87 |  |  | 3 |  |  | — |  |  | 2,026 |
Other assets | 81 |  |  | 319 |  |  | 58 |  |  | 21 |  |  | 31 |  |  | 42 |  |  | 15 |  |  | 33 |  |  | 42 |  |  | 642 |
Total assets | $ | 13,477 |  |  | $ | 7,288 |  |  | $ | 770 |  |  | $ | 704 |  |  | $ | 350 |  |  | $ | 476 |  |  | $ | 1,004 |  |  | $ | 319 |  |  | $ | 748 |  |  | $ | 25,136 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 162 |  |  | $ | 1,875 |  |  | $ | 145 |  |  | $ | 110 |  |  | $ | 75 |  |  | $ | 85 |  |  | $ | 23 |  |  | $ | 36 |  |  | $ | 332 |  |  | $ | 2,843 |
Securities sold, not yet purchased, at fair value | 4,476 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,476 |
Due to brokers | 2,171 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,171 |
Post-employment benefit liability | — |  |  | 1,272 |  |  | — |  |  | 9 |  |  | 56 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 1,340 |
Debt | — |  |  | 2,798 |  |  | 49 |  |  | 275 |  |  | 216 |  |  | 4 |  |  | 75 |  |  | — |  |  | 3,056 |  |  | 6,473 |
Total liabilities | 6,809 |  |  | 5,945 |  |  | 194 |  |  | 394 |  |  | 347 |  |  | 92 |  |  | 98 |  |  | 36 |  |  | 3,388 |  |  | 17,303 |
Equity attributable to Icahn Enterprises | 3,282 |  |  | 967 |  |  | 402 |  |  | 172 |  |  | (1 | ) |  | 384 |  |  | 906 |  |  | 283 |  |  | (2,640 | ) |  | 3,755 |
Equity attributable to non-controlling interests | 3,386 |  |  | 376 |  |  | 174 |  |  | 138 |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,078 |
Total equity | 6,668 |  |  | 1,343 |  |  | 576 |  |  | 310 |  |  | 3 |  |  | 384 |  |  | 906 |  |  | 283 |  |  | (2,640 | ) |  | 7,833 |
Total liabilities and equity | $ | 13,477 |  |  | $ | 7,288 |  |  | $ | 770 |  |  | $ | 704 |  |  | $ | 350 |  |  | $ | 476 |  |  | $ | 1,004 |  |  | $ | 319 |  |  | $ | 748 |  |  | $ | 25,136 |

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