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Subsequent Events | 9 Months Ended
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Sep. 30, 2014
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events. Icahn Enterprises On October 31, 2014, the board of directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $1.50 per depositary unit. The quarterly distribution is payable in either cash or additional depositary units, at the election of each depositary unit holder and will be paid on or about December 24, 2014 to depositary unit holders of record at the close of business on November 17, 2014. Depositary unit holders have until December 8, 2014 to make an election to receive either cash or additional depositary units; if a holder does not make an election, it will automatically be deemed to have elected to receive the dividend in cash. Depositary unit holders who elect to receive additional depositary units will receive units valued at the volume weighted average trading price of the units on NASDAQ during the 10 consecutive trading days ending December 22, 2014. No fractional depositary units will be issued pursuant to the dividend payment. Icahn Enterprises will make a cash payment in lieu of issuing fractional depositary units to any holders electing to receive depositary units. Any holders that would only be eligible to receive a fraction of a depositary unit based on the above calculation will receive a cash payment. Railcar On October 16, 2014 (the "Closing Date"), ARI, through a certain wholly owned subsidiary, entered into a lease financing facility for $100 million under a term loan agreement ("ARI Term Loan Facility"), to support the growth of its leasing business. The ARI Term Loan Facility matures in April 2015. The ARI Term Loan Facility is the obligation of a certain subsidiary of ARI, is generally non-recourse to ARI, and is secured by a first lien on substantially all assets of a certain subsidiary of ARI, consisting of railcars, railcar leases, receivables and related assets, subject to limited exceptions. Subject to the provisions of the ARI Term Loan Facility, the principal borrowed thereunder (the "ARI Loan") accrues interest at a rate determined by reference to an index or, subject to certain circumstances, at a base rate. For the portion of the ARI Loan accruing interest at a rate determined by reference to an index, (i) except during a period when the lender for such portion of the ARI Loan is funding and maintaining such portion of the ARI Loan through the issuance of or other financing arrangement in respect of commercial paper, the sum of LIBOR (as determined under the ARI Term Loan Facility) for such period plus the Applicable Margin (described below), and (ii) during a period when the lender for such portion of the ARI Loan is funding and maintaining such portion of the ARI Loan through the issuance of or other financing arrangement in respect of commercial paper, the sum of the applicable commercial paper rate (the CP Rate as determined under the ARI Term Loan Facility) plus the Applicable Margin (described below). From and including the Closing Date, as defined in the ARI Term Loan Facility, and through and including the date that is six months from the Closing Date, the Applicable Margin is equal to a rate per annum of 1.45%. Thereafter, the Applicable Margin increases to a rate per annum equal to 2.95%. The interest rate increases by 2.0% following certain defaults. For the portion of the ARI Loan accruing interest at the base rate, the interest rate is the higher of the federal funds rate designated by the ARI Term Loan Facility, plus 0.5%, or the prime rate designated by the ARI Term Loan Facility. Principal and interest payments are due monthly, with any remaining balance payable on the scheduled maturity date.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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