XML 67 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes
 3 Months Ended
Mar. 31, 2013
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes.
For the three months ended March 31, 2013, both Icahn Enterprises and Icahn Enterprises Holdings recorded an income tax expense of $120 million on pre-tax income of $815 million compared to an income tax benefit of $30 million on pre-tax income of $71 million for the three months ended March 31, 2012. Our effective income tax rate was 14.7% and (42.3)% for the three months ended March 31, 2013 and 2012, respectively.
For the three months ended March 31, 2013, the difference between the effective tax rate and statutory federal rate of 35% is principally due to partnership income not subject to taxation, as such taxes are the responsibility of the partners.  For the three months ended March 31, 2012, the difference between the effective tax rate and statutory federal rate of 35% is principally due to changes in valuation allowances and partnership income not subject to taxation, as such taxes are the responsibility of the partners.