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Investments and Related Matters (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2012
Dec. 31, 2011
Investment Segment [Member]
    
Investment and Related Matters [Line Items]    
Investment  
Investments, and securities sold, not yet purchased consist of equities, bonds, bank debt and other corporate obligations, and derivatives, all of which are reported at fair value in our consolidated balance sheets. The following table summarizes the Investment Funds' investments, securities sold, not yet purchased and unrealized gains and losses on derivatives:

  
December 31, 2011
 
December 31, 2010
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
 
(in millions)
Assets
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
   Equity securities:
 
 
 
 
 
 
 
      Communications
$
2,203

 
$
2,593

 
$
2,169

 
$
1,945

      Consumer, non-cyclical
1,642

 
1,804

 
1,833

 
2,234

      Consumer, cyclical(1)
822

 
754

 
595

 
614

      Basic materials
129

 
128

 
—

 
—

      Energy
1,194

 
1,673

 
757

 
858

      Financial
320

 
263

 
100

 
137

      Index
—

 
—

 
9

 
—

      Industrial
22

 
32

 
94

 
115

      Technology
169

 
254

 
313

 
405

      Utilities
171

 
104

 
157

 
143

 
6,672

 
7,605

 
6,027

 
6,451

   Corporate debt:
 
 
 
 
 
 
 
      Communications
89

 
84

 
—

 
—

      Consumer, cyclical
516

 
439

 
544

 
485

      Utilities
40

 
34

 
—

 
—

      Sovereign debt
10

 
10

 
—

 
—

      Financial
94

 
109

 
48

 
5

 
749

 
676

 
592

 
490

   Mortgage-backed securities:
 
 
 
 
 
 
 
      Financial
176

 
167

 
144

 
206

 
7,597

 
8,448

 
6,763

 
7,147

 
 
 
 
 
 
 
 
Derivative contracts, at fair value(2)
—

 
3

 
15

 
6

 
$
7,597

 
$
8,451

 
$
6,778

 
$
7,153

Liabilities
 
 
 
 
 
 
 
Securities sold, not yet purchased, at fair value:
 
 
 
 
 
 
 
   Equity securities:
 
 
 
 
 
 
 
      Consumer, cyclical
$
—

 
$
—

 
$
305

 
$
356

      Financial
—

 
—

 
51

 
58

      Index
—

 
—

 
9

 
5

      Funds
4,610

 
4,476

 
638

 
800

 
4,610

 
4,476

 
1,003

 
1,219

 
 
 
 
 
 
 
 
Derivative contracts, at fair value(3)
—

 
42

 
24

 
60

 
$
4,610

 
$
4,518

 
$
1,027

 
$
1,279


(1)
We consolidated the financial results of Tropicana effective November 15, 2010. As a result, we eliminated our investment in Tropicana at December 31, 2010. As of April 29, 2011, our Investment segment no longer held an investment in Tropicana common stock. See Note 3, "Operating Units-Gaming," for further discussion regarding the history of the Investment Funds' investment in Tropicana.
(2)
Included in other assets in our consolidated balance sheets.
(3)
Included in accrued expenses and other liabilities in our consolidated balance sheets.
Other Segments [Member]
    
Investment and Related Matters [Line Items]    
Investment
The carrying value of investments held by our Automotive, Gaming, Railcar, Home Fashion segments and Icahn Enterprises Holdings consist of the following:
 
June 30, 2012
 
December 31, 2011
 
(in millions)
Equity method investments
$
308

 
$
286

Other investments
96

 
204

 
$
404

 
$
490
Investments held by our Automotive, Gaming, Railcar, Home Fashion segments and Icahn Enterprises consist of the following:


 
December 31,
 
2011
 
2010
  
Amortized
Cost
 
Carrying
Value
 
Amortized
Cost
 
Carrying
Value
  
(in millions)
Marketable equity and debt securities - available for sale
$
17

 
$
20

 
$
24

 
$
19

Investments in precious metals
150

 
150

 
—

 
—

Equity method investments and other
320

 
320

 
304

 
304

  
$
487

 
$
490

 
$
328

 
$
323