Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Condensed Income Statement by Segment

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.

Schedule of Condensed Financial Statements by Segment

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