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Segment Reporting | 3 Months Ended
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Mar. 31, 2015
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting. As of March 31, 2015, our nine operating segments, which also constitute our reporting segments, are: (1) Investment; (2) Automotive; (3) Energy; (4) Metals; (5) Railcar; (6) Gaming; (7) Food Packaging; (8) Real Estate; and (9) Home Fashion. Our determination of what constitutes an operating segment is based on the various industries in which our businesses operate and how we manage those businesses in accordance with our investment strategy. We assess and measure segment operating results based on net income from continuing operations attributable to Icahn Enterprises and Icahn Enterprises Holdings, as disclosed below. 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 2, “Operating Units,” for a detailed description of each of our reporting segments. Icahn Enterprises' condensed statements of operations by reporting segment for the three months ended March 31, 2015 and 2014 are presented below:
| Three Months Ended March 31, 2015
| Investment |  | Automotive |  | Energy |  | Metals |  | Railcar |  | Gaming |  | Food Packaging |  | Real Estate |  | Home Fashion |  | Holding Company |  | Consolidated
| (in millions)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | — |  |  | $ | 1,835 |  |  | $ | 1,389 |  |  | $ | 106 |  |  | $ | 103 |  |  | $ | — |  |  | $ | 85 |  |  | $ | — |  |  | $ | 47 |  |  | $ | — |  |  | $ | 3,565 |
Other revenues from operations | — |  |  | — |  |  | — |  |  | — |  |  | 117 |  |  | 193 |  |  | — |  |  | 19 |  |  | — |  |  | — |  |  | 329 |
Net income from investment activities | 570 |  |  | — |  |  | 35 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (14 | ) |  | 591 |
Interest and dividend income | 49 |  |  | 1 |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 53 |
Other income (loss), net | — |  |  | 9 |  |  | (51 | ) |  | — |  |  | — |  |  | (1 | ) |  | (3 | ) |  | 19 |  |  | — |  |  | — |  |  | (27 | )
| 619 |  |  | 1,845 |  |  | 1,374 |  |  | 106 |  |  | 221 |  |  | 192 |  |  | 82 |  |  | 38 |  |  | 47 |  |  | (13 | ) |  | 4,511 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | — |  |  | 1,584 |  |  | 1,237 |  |  | 116 |  |  | 82 |  |  | — |  |  | 66 |  |  | — |  |  | 40 |  |  | — |  |  | 3,125 |
Other expenses from operations | — |  |  | — |  |  | — |  |  | — |  |  | 48 |  |  | 96 |  |  | — |  |  | 11 |  |  | — |  |  | — |  |  | 155 |
Selling, general and administrative | 100 |  |  | 217 |  |  | 32 |  |  | 5 |  |  | 11 |  |  | 82 |  |  | 12 |  |  | 3 |  |  | 8 |  |  | 7 |  |  | 477 |
Restructuring | — |  |  | 12 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12 |
Impairment | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |
Interest expense | 123 |  |  | 36 |  |  | 12 |  |  | — |  |  | 20 |  |  | 3 |  |  | 3 |  |  | 1 |  |  | — |  |  | 72 |  |  | 270 |
| 223 |  |  | 1,850 |  |  | 1,281 |  |  | 121 |  |  | 161 |  |  | 181 |  |  | 81 |  |  | 15 |  |  | 48 |  |  | 79 |  |  | 4,040 |
Income (loss) before income tax (expense) benefit | 396 |  |  | (5 | ) |  | 93 |  |  | (15 | ) |  | 60 |  |  | 11 |  |  | 1 |  |  | 23 |  |  | (1 | ) |  | (92 | ) |  | 471 |
Income tax (expense) benefit | — |  |  | (15 | ) |  | (18 | ) |  | 6 |  |  | (16 | ) |  | (4 | ) |  | (1 | ) |  | — |  |  | — |  |  | (1 | ) |  | (49 | )
Net income (loss) | 396 |  |  | (20 | ) |  | 75 |  |  | (9 | ) |  | 44 |  |  | 7 |  |  | — |  |  | 23 |  |  | (1 | ) |  | (93 | ) |  | 422 |
Less: net (income) loss attributable to non-controlling interests | (212 | ) |  | 2 |  |  | (32 | ) |  | — |  |  | (17 | ) |  | (2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (261 | )
Net income (loss) attributable to Icahn Enterprises | $ | 184 |  |  | $ | (18 | ) |  | $ | 43 |  |  | $ | (9 | ) |  | $ | 27 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 23 |  |  | $ | (1 | ) |  | $ | (93 | ) |  | $ | 161 |
Supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | $ | — |  |  | $ | 108 |  |  | $ | 46 |  |  | $ | 15 |  |  | $ | 162 |  |  | $ | 26 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 363 |
Depreciation and amortization(1) | $ | — |  |  | $ | 83 |  |  | $ | 58 |  |  | $ | 7 |  |  | $ | 29 |  |  | $ | 15 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 204 |
| Three Months Ended March 31, 2014
| Investment |  | Automotive |  | Energy |  | Metals |  | Railcar |  | Gaming |  | Food Packaging |  | Real Estate |  | Home Fashion |  | Holding Company |  | Consolidated
| (in millions)
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | — |  |  | $ | 1,779 |  |  | $ | 2,447 |  |  | $ | 189 |  |  | $ | 118 |  |  | $ | — |  |  | $ | 88 |  |  | $ | 3 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 4,666 |
Other revenues from operations | — |  |  | — |  |  | — |  |  | — |  |  | 93 |  |  | 149 |  |  | — |  |  | 19 |  |  | — |  |  | — |  |  | 261 |
Net gain (loss) from investment activities | (10 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (21 | ) |  | (31 | )
Interest and dividend income | 55 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 59 |
Other income (loss), net | 1 |  |  | 9 |  |  | 109 |  |  | 1 |  |  | (5 | ) |  | 37 |  |  | (15 | ) |  | 2 |  |  | 1 |  |  | (105 | ) |  | 35 |
| 46 |  |  | 1,789 |  |  | 2,556 |  |  | 190 |  |  | 207 |  |  | 187 |  |  | 73 |  |  | 24 |  |  | 43 |  |  | (125 | ) |  | 4,990 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | — |  |  | 1,506 |  |  | 2,247 |  |  | 192 |  |  | 93 |  |  | — |  |  | 66 |  |  | 1 |  |  | 37 |  |  | — |  |  | 4,142 |
Other expenses from operations | — |  |  | — |  |  | — |  |  | — |  |  | 43 |  |  | 74 |  |  | — |  |  | 12 |  |  | — |  |  | — |  |  | 129 |
Selling, general and administrative | 22 |  |  | 193 |  |  | 32 |  |  | 6 |  |  | 12 |  |  | 67 |  |  | 11 |  |  | 3 |  |  | 7 |  |  | 7 |  |  | 360 |
Restructuring | — |  |  | 8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8 |
Impairment | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |
Interest expense | 39 |  |  | 25 |  |  | 10 |  |  | — |  |  | 12 |  |  | 3 |  |  | 5 |  |  | 1 |  |  | — |  |  | 75 |  |  | 170 |
| 61 |  |  | 1,733 |  |  | 2,289 |  |  | 198 |  |  | 160 |  |  | 144 |  |  | 82 |  |  | 17 |  |  | 44 |  |  | 82 |  |  | 4,810 |
Income (loss) before income tax (expense) benefit | (15 | ) |  | 56 |  |  | 267 |  |  | (8 | ) |  | 47 |  |  | 43 |  |  | (9 | ) |  | 7 |  |  | (1 | ) |  | (207 | ) |  | 180 |
Income tax (expense) benefit | — |  |  | (16 | ) |  | (63 | ) |  | 3 |  |  | (11 | ) |  | (10 | ) |  | 3 |  |  | — |  |  | — |  |  | (9 | ) |  | (103 | )
Net income (loss) | (15 | ) |  | 40 |  |  | 204 |  |  | (5 | ) |  | 36 |  |  | 33 |  |  | (6 | ) |  | 7 |  |  | (1 | ) |  | (216 | ) |  | 77 |
Less: net (income) loss attributable to non-controlling interests | 20 |  |  | (9 | ) |  | (94 | ) |  | — |  |  | (15 | ) |  | (10 | ) |  | 2 |  |  | — |  |  | — |  |  | — |  |  | (106 | )
Net income (loss) attributable to Icahn Enterprises | $ | 5 |  |  | $ | 31 |  |  | $ | 110 |  |  | $ | (5 | ) |  | $ | 21 |  |  | $ | 23 |  |  | $ | (4 | ) |  | $ | 7 |  |  | $ | (1 | ) |  | $ | (216 | ) |  | $ | (29 | )
Supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | $ | — |  |  | $ | 96 |  |  | $ | 62 |  |  | $ | 4 |  |  | $ | 102 |  |  | $ | 12 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 282 |
Depreciation and amortization(1) | $ | — |  |  | $ | 80 |  |  | $ | 53 |  |  | $ | 6 |  |  | $ | 26 |  |  | $ | 9 |  |  | $ | 5 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 187 |
(1) | Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense in the amounts of $3 million and $10 million for the three months ended March 31, 2015 and 2014, respectively.
Icahn Enterprises' condensed balance sheets by reporting segment as of March 31, 2015 and December 31, 2014 are presented below:
| March 31, 2015
| Investment |  | Automotive |  | Energy |  | Metals |  | Railcar |  | Gaming |  | Food Packaging |  | Real Estate |  | Home Fashion |  | Holding Company |  | Consolidated
| (in millions)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 9 |  |  | $ | 323 |  |  | $ | 852 |  |  | $ | 10 |  |  | $ | 581 |  |  | $ | 186 |  |  | $ | 39 |  |  | $ | 36 |  |  | $ | 6 |  |  | $ | 826 |  |  | $ | 2,868 |
Cash held at consolidated affiliated partnerships and restricted cash | 1,903 |  |  | — |  |  | — |  |  | 4 |  |  | 45 |  |  | 14 |  |  | 1 |  |  | 30 |  |  | 5 |  |  | 3 |  |  | 2,005 |
Investments | 14,393 |  |  | 257 |  |  | 38 |  |  | — |  |  | 30 |  |  | 35 |  |  | — |  |  | — |  |  | — |  |  | 116 |  |  | 14,869 |
Accounts receivable, net | — |  |  | 1,443 |  |  | 137 |  |  | 38 |  |  | 46 |  |  | 9 |  |  | 62 |  |  | 5 |  |  | 36 |  |  | — |  |  | 1,776 |
Inventories, net | — |  |  | 1,290 |  |  | 311 |  |  | 60 |  |  | 122 |  |  | — |  |  | 79 |  |  | — |  |  | 75 |  |  | — |  |  | 1,937 |
Property, plant and equipment, net | — |  |  | 2,295 |  |  | 2,676 |  |  | 150 |  |  | 2,507 |  |  | 725 |  |  | 149 |  |  | 622 |  |  | 74 |  |  | 3 |  |  | 9,201 |
Goodwill and intangible assets, net | — |  |  | 1,845 |  |  | 1,179 |  |  | 7 |  |  | 7 |  |  | 75 |  |  | 9 |  |  | 56 |  |  | 3 |  |  | — |  |  | 3,181 |
Other assets | 295 |  |  | 444 |  |  | 154 |  |  | 24 |  |  | 91 |  |  | 215 |  |  | 89 |  |  | 24 |  |  | 10 |  |  | 58 |  |  | 1,404 |
Total assets | $ | 16,600 |  |  | $ | 7,897 |  |  | $ | 5,347 |  |  | $ | 293 |  |  | $ | 3,429 |  |  | $ | 1,259 |  |  | $ | 428 |  |  | $ | 773 |  |  | $ | 209 |  |  | $ | 1,006 |  |  | $ | 37,241 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 1,310 |  |  | $ | 1,987 |  |  | $ | 1,450 |  |  | $ | 54 |  |  | $ | 308 |  |  | $ | 123 |  |  | $ | 65 |  |  | $ | 22 |  |  | $ | 30 |  |  | $ | 129 |  |  | $ | 5,478 |
Securities sold, not yet purchased, at fair value | 958 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 958 |
Due to brokers | 4,627 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,627 |
Post-employment benefit liability | — |  |  | 1,295 |  |  | — |  |  | 2 |  |  | 8 |  |  | — |  |  | 50 |  |  | — |  |  | — |  |  | — |  |  | 1,355 |
Debt | — |  |  | 2,904 |  |  | 675 |  |  | 3 |  |  | 2,420 |  |  | 294 |  |  | 273 |  |  | 31 |  |  | — |  |  | 5,488 |  |  | 12,088 |
Total liabilities | 6,895 |  |  | 6,186 |  |  | 2,125 |  |  | 59 |  |  | 2,736 |  |  | 417 |  |  | 388 |  |  | 53 |  |  | 30 |  |  | 5,617 |  |  | 24,506 |
Equity attributable to Icahn Enterprises | 4,470 |  |  | 1,356 |  |  | 1,652 |  |  | 234 |  |  | 714 |  |  | 582 |  |  | 26 |  |  | 720 |  |  | 179 |  |  | (4,611 | ) |  | 5,322 |
Equity attributable to non-controlling interests | 5,235 |  |  | 355 |  |  | 1,570 |  |  | — |  |  | (21 | ) |  | 260 |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | 7,413 |
Total equity | 9,705 |  |  | 1,711 |  |  | 3,222 |  |  | 234 |  |  | 693 |  |  | 842 |  |  | 40 |  |  | 720 |  |  | 179 |  |  | (4,611 | ) |  | 12,735 |
Total liabilities and equity | $ | 16,600 |  |  | $ | 7,897 |  |  | $ | 5,347 |  |  | $ | 293 |  |  | $ | 3,429 |  |  | $ | 1,259 |  |  | $ | 428 |  |  | $ | 773 |  |  | $ | 209 |  |  | $ | 1,006 |  |  | $ | 37,241 |
| December 31, 2014
| Investment |  | Automotive |  | Energy |  | Metals |  | Railcar |  | Gaming |  | Food Packaging |  | Real Estate |  | Home Fashion |  | Holding Company |  | Consolidated
| (in millions)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 2 |  |  | $ | 332 |  |  | $ | 754 |  |  | $ | 19 |  |  | $ | 412 |  |  | $ | 196 |  |  | $ | 39 |  |  | $ | 24 |  |  | $ | 11 |  |  | $ | 1,123 |  |  | $ | 2,912 |
Cash held at consolidated affiliated partnerships and restricted cash | 1,366 |  |  | — |  |  | — |  |  | 4 |  |  | 35 |  |  | 16 |  |  | 1 |  |  | 2 |  |  | 8 |  |  | 3 |  |  | 1,435 |
Investments | 13,961 |  |  | 269 |  |  | 77 |  |  | — |  |  | 29 |  |  | 33 |  |  | — |  |  | — |  |  | — |  |  | 131 |  |  | 14,500 |
Accounts receivable, net | — |  |  | 1,356 |  |  | 137 |  |  | 51 |  |  | 41 |  |  | 9 |  |  | 63 |  |  | 4 |  |  | 30 |  |  | — |  |  | 1,691 |
Inventories, net | — |  |  | 1,215 |  |  | 330 |  |  | 67 |  |  | 117 |  |  | — |  |  | 77 |  |  | — |  |  | 73 |  |  | — |  |  | 1,879 |
Property, plant and equipment, net | — |  |  | 2,160 |  |  | 2,692 |  |  | 144 |  |  | 2,376 |  |  | 719 |  |  | 154 |  |  | 633 |  |  | 74 |  |  | 3 |  |  | 8,955 |
Goodwill and intangible assets, net | — |  |  | 1,744 |  |  | 1,184 |  |  | 8 |  |  | 7 |  |  | 75 |  |  | 9 |  |  | 58 |  |  | 3 |  |  | — |  |  | 3,088 |
Other assets | 131 |  |  | 453 |  |  | 160 |  |  | 22 |  |  | 103 |  |  | 212 |  |  | 93 |  |  | 24 |  |  | 9 |  |  | 113 |  |  | 1,320 |
Total assets | $ | 15,460 |  |  | $ | 7,529 |  |  | $ | 5,334 |  |  | $ | 315 |  |  | $ | 3,120 |  |  | $ | 1,260 |  |  | $ | 436 |  |  | $ | 745 |  |  | $ | 208 |  |  | $ | 1,373 |  |  | $ | 35,780 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 864 |  |  | $ | 1,933 |  |  | $ | 1,471 |  |  | $ | 60 |  |  | $ | 294 |  |  | $ | 130 |  |  | $ | 64 |  |  | $ | 20 |  |  | $ | 28 |  |  | $ | 13 |  |  | $ | 4,877 |
Securities sold, not yet purchased, at fair value | 337 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 337 |
Due to brokers | 5,197 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,197 |
Post-employment benefit liability | — |  |  | 1,328 |  |  | — |  |  | 2 |  |  | 9 |  |  | — |  |  | 52 |  |  | — |  |  | — |  |  | — |  |  | 1,391 |
Debt | — |  |  | 2,690 |  |  | 675 |  |  | 3 |  |  | 2,133 |  |  | 295 |  |  | 274 |  |  | 32 |  |  | — |  |  | 5,486 |  |  | 11,588 |
Total liabilities | 6,398 |  |  | 5,951 |  |  | 2,146 |  |  | 65 |  |  | 2,436 |  |  | 425 |  |  | 390 |  |  | 52 |  |  | 28 |  |  | 5,499 |  |  | 23,390 |
Equity attributable to Icahn Enterprises | 4,284 |  |  | 1,231 |  |  | 1,612 |  |  | 250 |  |  | 711 |  |  | 578 |  |  | 30 |  |  | 693 |  |  | 180 |  |  | (4,126 | ) |  | 5,443 |
Equity attributable to non-controlling interests | 4,778 |  |  | 347 |  |  | 1,576 |  |  | — |  |  | (27 | ) |  | 257 |  |  | 16 |  |  | — |  |  | — |  |  | — |  |  | 6,947 |
Total equity | 9,062 |  |  | 1,578 |  |  | 3,188 |  |  | 250 |  |  | 684 |  |  | 835 |  |  | 46 |  |  | 693 |  |  | 180 |  |  | (4,126 | ) |  | 12,390 |
Total liabilities and equity | $ | 15,460 |  |  | $ | 7,529 |  |  | $ | 5,334 |  |  | $ | 315 |  |  | $ | 3,120 |  |  | $ | 1,260 |  |  | $ | 436 |  |  | $ | 745 |  |  | $ | 208 |  |  | $ | 1,373 |  |  | $ | 35,780 |
Icahn Enterprises Holdings Due to the structure of our business, the consolidated results of operations for Icahn Enterprises and Icahn Enterprises Holdings are substantially the same. Differences primarily relate to debt, deferred financing costs and amortization of debt discounts and premiums, which are only reflected in the results of operations for the Holding Company. See Note 10, "Debt," for additional information. Segment information for Icahn Enterprises Holdings is presented below for significant financial statement line items affected by these differences.
| Three Months Ended March 31, |  | March 31, |  | December 31,
| 2015 |  | 2014 |  | 2015 |  | 2014
| Interest Expense |  | Net Income (Loss) |  | Net Income (Loss) Attributable to Icahn Enterprises Holdings |  | Interest Expense |  | Net Income (Loss) |  | Net Income (Loss) Attributable to Icahn Enterprises Holdings |  | Total Assets |  | Total Assets
| (in millions) |  | (in millions)
Investment | $ | 123 |  |  | $ | 396 |  |  | $ | 184 |  |  | $ | 39 |  |  | $ | (15 | ) |  | $ | 5 |  |  | $ | 16,600 |  |  | $ | 15,460 |
Automotive | 36 |  |  | (20 | ) |  | (18 | ) |  | 25 |  |  | 40 |  |  | 31 |  |  | 7,897 |  |  | 7,529 |
Energy | 12 |  |  | 75 |  |  | 43 |  |  | 10 |  |  | 204 |  |  | 110 |  |  | 5,347 |  |  | 5,334 |
Metals | — |  |  | (9 | ) |  | (9 | ) |  | — |  |  | (5 | ) |  | (5 | ) |  | 293 |  |  | 315 |
Railcar | 20 |  |  | 44 |  |  | 27 |  |  | 12 |  |  | 36 |  |  | 21 |  |  | 3,429 |  |  | 3,120 |
Gaming | 3 |  |  | 7 |  |  | 5 |  |  | 3 |  |  | 33 |  |  | 23 |  |  | 1,259 |  |  | 1,260 |
Food Packaging | 3 |  |  | — |  |  | — |  |  | 5 |  |  | (6 | ) |  | (4 | ) |  | 428 |  |  | 436 |
Real Estate | 1 |  |  | 23 |  |  | 23 |  |  | 1 |  |  | 7 |  |  | 7 |  |  | 773 |  |  | 745 |
Home Fashion | — |  |  | (1 | ) |  | (1 | ) |  | — |  |  | (1 | ) |  | (1 | ) |  | 209 |  |  | 208 |
Holding Company | 72 |  |  | (93 | ) |  | (93 | ) |  | 75 |  |  | (216 | ) |  | (216 | ) |  | 1,029 |  |  | 1,396 |
Consolidated | $ | 270 |  |  | $ | 422 |  |  | $ | 161 |  |  | $ | 170 |  |  | $ | 77 |  |  | $ | (29 | ) |  | $ | 37,264 |  |  | $ | 35,803 |
Amounts related to the amortization of debt discounts and premiums included in interest expense for the consolidated results of Icahn Enterprises Holdings were $3 million and $10 million for the three months ended March 31, 2015 and 2014, respectively.

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