XML 42 R28.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Schedule I - Parent Company [Member] | 12 Months Ended
--- | ---
Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items] |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | SCHEDULE I ICAHN ENTERPRISES, L.P. (Parent Company) CONDENSED BALANCE SHEETS
| December 31,
| 2015 |  | 2014
| (In millions, except unit amounts)
ASSETS |  |  |
Investments in subsidiaries, net | $ | 9,577 |  |  | $ | 11,028 |
Deferred financing costs | 6 |  |  | 8 |
Total Assets | $ | 9,583 |  |  | $ | 11,036 |
LIABILITIES AND EQUITY |  |  |
Accrued expenses and other liabilities | $ | 106 |  |  | $ | 107 |
Debt | 5,490 |  |  | 5,486 |
| 5,596 |  |  | 5,593 |
Commitments and contingencies (Note 3) |  |  |
Equity: |  |  |
Limited partners: Depositary units: 131,481,059 and 123,103,414 units issued and outstanding at December 31, 2015 and 2014, respectively | 4,244 |  |  | 5,672 |
General partner | (257 | ) |  | (229 | )
Total equity | 3,987 |  |  | 5,443 |
Total Liabilities and Equity | $ | 9,583 |  |  | $ | 11,036 |
See notes to condensed financial statements. SCHEDULE I ICAHN ENTERPRISES, L.P. (Parent Company) CONDENSED STATEMENTS OF OPERATIONS
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In millions)
Interest expense | $ | (289 | ) |  | $ | (292 | ) |  | $ | (302 | )
Loss on extinguishment of debt | — |  |  | (108 | ) |  | — |
Equity in (loss) earnings of subsidiaries | (905 | ) |  | 27 |  |  | 1,327 |
Net (loss) income | $ | (1,194 | ) |  | $ | (373 | ) |  | $ | 1,025 |
Net (loss) income allocable to: |  |  |  |  |
Limited partners | $ | (1,170 | ) |  | $ | (366 | ) |  | $ | 1,005 |
General partner | (24 | ) |  | (7 | ) |  | 20 |
| $ | (1,194 | ) |  | $ | (373 | ) |  | $ | 1,025 |
See notes to condensed financial statements. SCHEDULE I ICAHN ENTERPRISES, L.P. (Parent Company) CONDENSED STATEMENTS OF CASH FLOWS
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (In millions)
Cash flows from operating activities: |  |  |  |  |
Net (loss) income | $ | (1,194 | ) |  | $ | (373 | ) |  | $ | 1,025 |
Adjustments to reconcile net (loss) income to net cash used in operating activities: |  |  |  |  |
Amortization of deferred financing costs | 1 |  |  | 1 |  |  | 2 |
Loss on extinguishment of debt | — |  |  | 108 |  |  | — |
Equity in (income) loss of subsidiary | 905 |  |  | (27 | ) |  | (1,327 | )
Net cash used in operating activities | (288 | ) |  | (291 | ) |  | (300 | )
Cash flows from investing activities: |  |  |  |  |
Net investment in and advances from subsidiary | 404 |  |  | (951 | ) |  | (173 | )
Net cash provided by (used in) investing activities | 404 |  |  | (951 | ) |  | (173 | )
Cash flows from financing activities: |  |  |  |  |
Partnership distributions | (116 | ) |  | (125 | ) |  | (51 | )
Partnership contributions | — |  |  | — |  |  | 587 |
Proceeds from borrowings | — |  |  | 4,991 |  |  | 493 |
Repayments of borrowings | — |  |  | (3,624 | ) |  | (556 | )
Net cash (used in) provided by financing activities | (116 | ) |  | 1,242 |  |  | 473 |
Net change in cash and cash equivalents | — |  |  | — |  |  | — |
Cash and cash equivalents, beginning of period | — |  |  | — |  |  | — |
Cash and cash equivalents, end of period | $ | — |  |  | $ | — |  |  | $ | — |
See notes to condensed financial statements. ICAHN ENTERPRISES L.P. (Parent Company) NOTES TO CONDENSED FINANCIAL STATEMENTS 1. Description of Business and Basis of Presentation. Icahn Enterprises, L.P. (“Icahn Enterprises”) is a master limited partnership formed in Delaware on February 17, 1987. We own a 99% limited partner interest in Icahn Enterprises Holdings L.P. (''Icahn Enterprises Holdings''). Icahn Enterprises Holdings and its subsidiaries own substantially all of our assets and liabilities and conduct substantially all of our operations. Icahn Enterprises G.P. Inc. (''Icahn Enterprises GP''), our sole general partner, which is owned and controlled by Carl C. Icahn, owns a 1% general partner interest in both us and Icahn Enterprises Holdings, representing an aggregate 1.99% general partner interest in us and Icahn Enterprises Holdings. As of December 31, 2015, Icahn Enterprises Holdings is engaged in the following continuing operating businesses: Investment, Automotive, Energy, Metals, Railcar, Gaming, Mining, Food Packaging, Real Estate and Home Fashion. For the years ended December 31, 2015, 2014 and 2013, Icahn Enterprises received $535 million, $561 million and $1,190 million, respectively, in dividends and distributions from consolidated subsidiaries. The condensed financial statements of Icahn Enterprises should be read in conjunction with the consolidated financial statements and notes thereto included in Part II, Item 8 of this Report. 2. Debt. See Note 10, “Debt,” to the consolidated financial statements located in Part II, Item 8 of this Report. Icahn Enterprises' Parent company debt consists of the following:
| December 31,
| 2015 |  | 2014
| (in millions)
Senior unsecured 5.875% notes due 2022 | $ | 1,339 |  |  | $ | 1,337 |
Senior unsecured 6.00% notes due 2020 | 1,707 |  |  | 1,708 |
Senior unsecured 4.875% notes due 2019 | 1,271 |  |  | 1,270 |
Senior unsecured 3.5% notes due 2017 | 1,173 |  |  | 1,171 |
Total debt | $ | 5,490 |  |  | $ | 5,486 |
3. Commitments and Contingencies. See Note 17, “Commitments and Contingencies,” to the consolidated financial statements located in Part II, Item 8 of this Report.
Icahn Enterprises Holdings [Member] |
Condensed Financial Statements, Captions [Line Items] |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | SCHEDULE I ICAHN ENTERPRISES HOLDINGS L.P. (Parent Company) CONDENSED BALANCE SHEETS
| December 31,
| 2015 |  | 2014
| (in millions)
ASSETS |  |  |
Cash and cash equivalents | $ | 51 |  |  | $ | 388 |
Other assets | 223 |  |  | 114 |
Investments in subsidiaries, net | 9,363 |  |  | 10,592 |
Total Assets | $ | 9,637 |  |  | $ | 11,094 |
LIABILITIES AND EQUITY |  |  |
Accrued expenses and other liabilities | $ | 109 |  |  | $ | 111 |
Debt | 5,517 |  |  | 5,517 |
| 5,626 |  |  | 5,628 |
Commitments and contingencies (Note 3) |  |  |
Equity: |  |  |
Limited partner | 4,310 |  |  | 5,751 |
General partner | (299 | ) |  | (285 | )
Total equity | 4,011 |  |  | 5,466 |
Total Liabilities and Equity | $ | 9,637 |  |  | $ | 11,094 |
See notes to condensed financial statements. SCHEDULE I ICAHN ENTERPRISES HOLDINGS L.P. (Parent Company) CONDENSED STATEMENTS OF OPERATIONS
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (in millions)
Interest and dividend income | $ | — |  |  | $ | 1 |  |  | $ | — |
Loss on extinguishment of debt | — |  |  | (108 | ) |  | — |
Equity in (loss) earnings of subsidiaries | (903 | ) |  | 28 |  |  | 1,342 |
Other income, net | 28 |  |  | 20 |  |  | 15 |
| (875 | ) |  | (59 | ) |  | 1,357 |
Interest expense | 291 |  |  | 290 |  |  | 305 |
Selling, general and administrative | 27 |  |  | 23 |  |  | 27 |
| 318 |  |  | 313 |  |  | 332 |
Net (loss) income | $ | (1,193 | ) |  | $ | (372 | ) |  | $ | 1,025 |
Net (loss) income allocable to: |  |  |  |  |
Limited partner | $ | (1,181 | ) |  | $ | (368 | ) |  | $ | 1,015 |
General partner | (12 | ) |  | (4 | ) |  | 10 |
| $ | (1,193 | ) |  | $ | (372 | ) |  | $ | 1,025 |
See notes to condensed financial statements. SCHEDULE I ICAHN ENTERPRISES HOLDINGS L.P. (Parent Company) CONDENSED STATEMENTS OF CASH FLOWS
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| (in millions)
Cash flows from operating activities: |  |  |  |  |
Net (loss) income | $ | (1,193 | ) |  | $ | (372 | ) |  | $ | 1,025 |
Adjustments to reconcile net (loss) income to net cash used in operating activities: |  |  |  |  |
Equity in (income) loss of subsidiary | 903 |  |  | (28 | ) |  | (1,342 | )
Loss on extinguishment of debt | — |  |  | 108 |  |  | — |
Investment gains | — |  |  | — |  |  | — |
Depreciation and amortization | 2 |  |  | 5 |  |  | (1 | )
Other, net | (16 | ) |  | — |  |  | — |
Change in operating assets and liabilities | (4 | ) |  | (47 | ) |  | 18 |
Net cash used in operating activities | (308 | ) |  | (334 | ) |  | (300 | )
Cash flows from investing activities: |  |  |  |  |
Net investment in subsidiaries | 155 |  |  | (661 | ) |  | (128 | )
Purchase of investments | (96 | ) |  | — |  |  | — |
Other, net | 28 |  |  | 9 |  |  | 4 |
Net cash provided by (used in) investing activities | 87 |  |  | (652 | ) |  | (124 | )
Cash flows from financing activities: |  |  |  |  |
Partnership distributions | (116 | ) |  | (125 | ) |  | (51 | )
Partner contribution | — |  |  | — |  |  | 593 |
Proceeds from borrowings | — |  |  | 4,991 |  |  | 493 |
Repayments of borrowings | — |  |  | (3,634 | ) |  | (576 | )
Net cash (used in) provided by financing activities | (116 | ) |  | 1,232 |  |  | 459 |
Net change in cash and cash equivalents | (337 | ) |  | 246 |  |  | 35 |
Cash and cash equivalents, beginning of period | 388 |  |  | 142 |  |  | 107 |
Cash and cash equivalents, end of period | $ | 51 |  |  | $ | 388 |  |  | $ | 142 |
See notes to condensed financial statements. ICAHN ENTERPRISES HOLDINGS L.P. (Parent Company) NOTES TO CONDENSED FINANCIAL STATEMENTS 1. Description of Business and Basis of Presentation. Icahn Enterprises Holdings L.P. (“Icahn Enterprises Holdings”) is a limited partnership formed in Delaware on February 17, 1987. Our sole limited partner is Icahn Enterprises L.P. (“Icahn Enterprises”), a master limited partnership which owns a 99% interest in us. Icahn Enterprises G.P. Inc. (“Icahn Enterprises GP''), our sole 1% general partner, is a Delaware corporation which is owned and controlled by Carl C. Icahn. As of December 31, 2015, Icahn Enterprises Holdings is engaged in the following continuing operating businesses: Investment, Automotive, Energy, Metals, Railcar, Gaming, Mining, Food Packaging, Real Estate and Home Fashion. For the years ended December 31, 2015, 2014 and 2013, Icahn Enterprises Holdings received $535 million, $561 million and $1,190 million, respectively, in dividends and distributions from consolidated subsidiaries. The condensed financial statements of Icahn Enterprises Holdings should be read in conjunction with the consolidated financial statements and notes thereto included in Part II, Item 8 of this Report. 2. Debt. See Note 10, “Debt,” to the consolidated financial statements located in Part II, Item 8 of this Report. Icahn Enterprises Holdings' Parent company debt consists of the following:
| December 31,
| 2015 |  | 2014
| (in millions)
Senior unsecured 5.875% notes due 2022 | $ | 1,339 |  |  | 1,337 |
Senior unsecured 6.00% notes due 2020 | 1,707 |  |  | 1,708 |
Senior unsecured 4.875% notes due 2019 | 1,271 |  |  | 1,270 |
Senior unsecured 3.5% notes due 2017 | 1,173 |  |  | 1,171 |
Mortgages payable | 27 |  |  | 31 |
Total debt | $ | 5,517 |  |  | $ | 5,517 |
3. Commitments and Contingencies. See Note 17, “Commitments and Contingencies,” to the consolidated financial statements located in Part II, Item 8 of this Report.

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_CondensedFinancialStatementsCaptionsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_StatementScenarioAxis=us-gaap_ParentCompanyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | dei_LegalEntityAxis=iep_IcahnEnterprisesHoldingsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |