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Debt | 3 Months Ended
--- | ---
Mar. 31, 2017
Debt Disclosure [Abstract] |
Debt | Debt. Debt consists of the following:
| Icahn Enterprises |  | Icahn Enterprises Holdings
| March 31, 2017 |  | December 31, 2016 |  | March 31, 2017 |  | December 31, 2016
| (in millions) |  | (in millions)
6.75% senior unsecured notes due 2024 - Icahn Enterprises/Icahn Enterprises Holdings | $ | 498 |  |  | $ | — |  |  | $ | 499 |  |  | $ | — |
6.25% senior unsecured notes due 2022 - Icahn Enterprises/Icahn Enterprises Holdings | 692 |  |  | — |  |  | 693 |  |  | — |
5.875% senior unsecured notes due 2022 - Icahn Enterprises/Icahn Enterprises Holdings | 1,340 |  |  | 1,340 |  |  | 1,341 |  |  | 1,341 |
6.00% senior unsecured notes due 2020 - Icahn Enterprises/Icahn Enterprises Holdings | 1,705 |  |  | 1,705 |  |  | 1,706 |  |  | 1,706 |
4.875% senior unsecured notes due 2019 - Icahn Enterprises/Icahn Enterprises Holdings | 1,272 |  |  | 1,271 |  |  | 1,272 |  |  | 1,272 |
3.50% senior unsecured notes due 2017 - Icahn Enterprises/Icahn Enterprises Holdings | — |  |  | 1,174 |  |  | — |  |  | 1,174 |
Debt and credit facilities - Automotive | 3,321 |  |  | 3,249 |  |  | 3,321 |  |  | 3,249 |
Debt facilities - Energy | 1,119 |  |  | 1,118 |  |  | 1,119 |  |  | 1,118 |
Debt and credit facilities - Railcar | 565 |  |  | 571 |  |  | 565 |  |  | 571 |
Credit facilities - Gaming | 286 |  |  | 287 |  |  | 286 |  |  | 287 |
Credit facilities - Food Packaging | 273 |  |  | 265 |  |  | 273 |  |  | 265 |
Capital leases and other | 141 |  |  | 139 |  |  | 141 |  |  | 139 |
| $ | 11,212 |  |  | $ | 11,119 |  |  | $ | 11,216 |  |  | $ | 11,122 |
Except for those described below, there were no other significant changes to our consolidated debt during the three months ended March 31, 2017 as compared to that reported in our Annual Report on Form 10-K for the year ended December 31, 2016. Additionally, where applicable, we or our subsidiaries were in compliance with all covenants for their respective debt instruments as of March 31, 2017 and December 31, 2016. Senior Unsecured Notes - Icahn Enterprises and Icahn Enterprises Holdings Refinancing of 3.50% Senior Unsecured Notes Due 2017 On January 18, 2017, we and a wholly owned subsidiary of ours, Icahn Enterprises Finance Corp. (collectively, the "Issuers"), issued $695 million in aggregate principal amount of 6.250% senior unsecured notes due 2022 and $500 million in aggregate principal amount of 6.750% senior unsecured notes due 2024 (collectively, the "New Notes"). The net proceeds from the sale of the New Notes were approximately $1.190 billion, after deducting the initial purchaser’s discount and commission and estimated fees and expenses related to the offering. These proceeds were used to redeem all of the Issuer's outstanding senior unsecured notes due 2017, including accrued interest. Interest on the New Notes are payable on February 1 and August 1 of each year, commencing August 1, 2017. The Issuers issued the New Notes under an indenture dated January 18, 2017, among the Issuers, Icahn Enterprises Holdings (the "Guarantor"), and Wilmington Trust Company, as trustee. The indenture contains customary events of defaults and covenants relating to, among other things, the incurrence of debt, affiliate transactions, liens and restricted payments. Prior to maturity of the New Notes, the Issuers may redeem some or all of the notes at certain times by paying a premium as specified in the indenture, plus accrued and unpaid interest. The New Notes and the related guarantee are the senior unsecured obligations of the Issuers and rank equally with all of the Issuers’ and the Guarantor’s existing and future senior unsecured indebtedness and senior to all of the Issuers’ and the Guarantor’s existing and future subordinated indebtedness. All of our senior unsecured notes and the related guarantees are effectively subordinated to the Issuers’ and the Guarantor’s existing and future secured indebtedness to the extent of the collateral securing such indebtedness. All of our senior unsecured notes and the related guarantees are also effectively subordinated to all indebtedness and other liabilities of the Issuers’ subsidiaries other than the Guarantor. On March 22, 2017, the Issuers and the Guarantor filed a registration statement on Form S-4 with the SEC which offers to exchange the unregistered New Notes for registered, publicly tradable notes that have substantially identical terms as the New Notes. The registration statement on Form S-4 was declared effective by the SEC on April 27, 2017. Senior Unsecured Notes Covenants As of March 31, 2017 and December 31, 2016, we were in compliance with all covenants, including maintaining certain minimum financial ratios, as defined in the indentures. Additionally, as of March 31, 2017, based on covenants in the indentures governing our senior unsecured notes, we are not permitted to incur additional indebtedness. Debt and Credit Facilities - Automotive On March 30, 2017, Federal-Mogul issued €415 million in aggregate principal amount of 4.875% senior secured notes due 2022 and €300 million in aggregate principal amount of floating rate senior secured notes due 2024. Interest on the floating rate notes will accrue at the three-month EURIBOR rate, with 0% floor, plus 4.875% per annum. These notes were issued without a discount and will rank equally in right of payment to all existing and future senior secured indebtedness of Federal-Mogul. Proceeds from the issuance of these notes were $776 million which were used to repay Federal-Mogul's tranche B term loan, including accrued interest, a portion of the outstanding balance on its revolving facility and fees and expenses related to the issuance of the notes. In addition, Federal-Mogul recognized a $2 million loss on the extinguishment of debt for the three months ended March 31, 2017 for the write-off of prior debt issuance costs and original issue discounts related to the tranche B term loan.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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