Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2017

Condensed statements of operations by reporting segment



	Three Months Ended March 31, 2017
	Investment			Automotive			Energy			Railcar			Gaming			Metals		Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	2,477		$	1,507		$	61		$	—		$	103	$	33		$	90		$	1	$	47		$	—		$	4,319
Other revenues from operations	—			108			—			133			217			—		—			—			17		—			—			475
Net loss from investment activities	(128		)	—			—			—			—			—		—			—			—		—			(2		)	(130		)
Interest and dividend income	26			—			—			—			1			—		—			—			—		—			2			29
Other (loss) income, net	(41		)	16			12			1			(2		)	—		(2		)	—			—		—			—			(16		)
	(143		)	2,601			1,519			195			216			103		31			90			18		47			—			4,677
Expenses:
Cost of goods sold	—			2,041			1,419			55			—			96		17			68			1		40			—			3,737
Other expenses from operations	—			99			—			43			101			—		—			—			11		—			—			254
Selling, general and administrative	2			385			36			14			102			5		6			16			2		10			4			582
Restructuring	—			7			—			—			—			—		—			—			—		—			—			7
Impairment	—			6			—			—			—			—		—			—			2		—			—			8
Interest expense	47			40			27			19			3			—		2			3			—		—			82			223
	49			2,578			1,482			131			206			101		25			87			16		50			86			4,811
(Loss) income before income tax benefit (expense)	(192		)	23			37			64			10			2		6			3			2		(3		)	(86		)	(134		)
Income tax benefit (expense)	—			7			(9		)	(12		)	(14		)	—		—			(1		)	—		—			3			(26		)
Net (loss) income	(192		)	30			28			52			(4		)	2		6			2			2		(3		)	(83		)	(160		)
Less: net loss (income) attributable to non-controlling interests	169			(3		)	(11		)	(4		)	(7		)	—		(1		)	(1		)	—		—			—			142
Net (loss) income attributable to Icahn Enterprises	$	(23	)	$	27		$	17		$	48		$	(11	)	$	2	$	5		$	1		$	2	$	(3	)	$	(83	)	$	(18	)

Supplemental information:
Capital expenditures	$	—		$	111		$	24		$	59		$	22		$	2	$	9		$	3		$	—	$	1		$	—		$	231
Depreciation and amortization⁽¹⁾	$	—		$	121		$	67		$	18		$	18		$	5	$	1		$	6		$	5	$	2		$	—		$	243



	Three Months Ended March 31, 2016
	Investment			Automotive			Energy			Railcar			Gaming			Metals			Mining			Food Packaging			Real Estate		Home Fashion		Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	2,321		$	906		$	124		$	—		$	58		$	10		$	77		$	2	$	50	$	—		$	3,548
Other revenues from operations	—			80			—			132			218			—			—			—			16		—		—			446
Net (loss) gain from investment activities	(945		)	—			—			—			—			—			—			—			—		—		9			(936		)
Interest and dividend income	38			1			—			1			—			—			—			—			—		—		2			42
Other (loss) income, net	(1		)	24			(1		)	2			—			—			(3		)	4			1		1		—			27
	(908		)	2,426			905			259			218			58			7			81			19		51		11			3,127
Expenses:
Cost of goods sold	—			1,912			927			102			—			64			14			61			1		42		—			3,123
Other expenses from operations	—			76			—			54			106			—			—			—			10		—		—			246
Selling, general and administrative	(12		)	350			35			12			97			4			4			12			3		9		4			518
Restructuring	—			15			—			—			—			—			—			—			—		—		—			15
Impairment	—			3			574			—			—			—			—			—			—		—		—			577
Interest expense	87			39			11			23			3			—			1			3			1		—		73			241
	75			2,395			1,547			191			206			68			19			76			15		51		77			4,720
(Loss) income before income tax (expense) benefit	(983		)	31			(642		)	68			12			(10		)	(12		)	5			4		—		(66		)	(1,593		)
Income tax (expense) benefit	—			(3		)	28			(18		)	(6		)	4			(1		)	(1		)	—		—		(19		)	(16		)
Net (loss) income	(983		)	28			(614		)	50			6			(6		)	(13		)	4			4		—		(85		)	(1,609		)
Less: net loss (income) attributable to non-controlling interests	533			(7		)	261			(14		)	(3		)	—			3			(1		)	—		—		—			772
Net (loss) income attributable to Icahn Enterprises	$	(450	)	$	21		$	(353	)	$	36		$	3		$	(6	)	$	(10	)	$	3		$	4	$	—	$	(85	)	$	(837	)

Supplemental information:
Capital expenditures	$	—		$	99		$	48		$	39		$	16		$	1		$	2		$	3		$	—	$	2	$	—		$	210
Depreciation and amortization⁽¹⁾	$	—		$	104		$	56		$	34		$	17		$	6		$	1		$	5		$	5	$	2	$	—		$	230


⁽¹⁾	Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense in the amounts of $5 million and $4 million for the three months ended March 31, 2017 and 2016, respectively.

Condensed balance sheets by reporting segment



	March 31, 2017
	Investment		Automotive		Energy		Railcar		Gaming		Metals		Mining		Food Packaging		Real Estate		Home Fashion		Holding Company			Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	16	$	389	$	804	$	151	$	257	$	4	$	18	$	15	$	25	$	2	$	337		$	2,018
Cash held at consolidated affiliated partnerships and restricted cash	956		1		—		19		15		5		—		2		2		4		3			1,007
Investments	9,430		261		7		33		35		—		—		—		—		—		321			10,087
Accounts receivable, net	—		1,380		143		25		10		54		4		69		4		36		—			1,725
Inventories, net	—		2,422		354		79		—		34		25		85		—		68		—			3,067
Property, plant and equipment, net	—		3,347		3,317		1,606		770		96		160		166		600		74		—			10,136
Goodwill and intangible assets, net	—		1,777		313		7		75		4		—		35		36		1		—			2,248
Other assets	1,570		545		62		1,346		208		11		22		107		18		6		6			3,901
Total assets	$	11,972	$	10,122	$	5,000	$	3,266	$	1,370	$	208	$	229	$	479	$	685	$	191	$	667		$	34,189
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,759	$	2,931	$	1,474	$	2,068	$	160	$	36	$	40	$	93	$	23	$	30	$	399		$	9,013
Securities sold, not yet purchased, at fair value	2,192		—		—		—		—		—		—		—		—		—		—			2,192
Due to brokers	2,017		—		—		—		—		—		—		—		—		—		—			2,017
Post-employment benefit liability	—		1,107		—		9		—		2		—		70		—		—		—			1,188
Debt	—		3,334		1,165		565		286		1		56		274		24		—		5,507			11,212
Total liabilities	5,968		7,372		2,639		2,642		446		39		96		437		47		30		5,906			25,622

Equity attributable to Icahn Enterprises	1,846		2,599		1,018		415		686		169		109		28		638		161		(5,239		)	2,430
Equity attributable to non-controlling interests	4,158		151		1,343		209		238		—		24		14		—		—		—			6,137
Total equity	6,004		2,750		2,361		624		924		169		133		42		638		161		(5,239		)	8,567
Total liabilities and equity	$	11,972	$	10,122	$	5,000	$	3,266	$	1,370	$	208	$	229	$	479	$	685	$	191	$	667		$	34,189



	December 31, 2016
	Investment		Automotive		Energy		Railcar		Gaming		Metals		Mining		Food Packaging		Real Estate		Home Fashion		Holding Company			Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	13	$	353	$	736	$	179	$	244	$	4	$	14	$	39	$	24	$	2	$	225		$	1,833
Cash held at consolidated affiliated partnerships and restricted cash	752		2		—		19		15		5		—		2		2		4		3			804
Investments	9,213		270		6		35		33		—		—		—		—		—		324			9,881
Accounts receivable, net	—		1,270		152		40		12		29		5		63		3		35		—			1,609
Inventories, net	—		2,353		349		75		—		38		25		72		—		71		—			2,983
Property, plant and equipment, net	—		3,302		3,358		1,567		814		100		152		152		602		75		—			10,122
Goodwill and intangible assets, net	—		1,765		318		7		75		4		—		8		38		1		—			2,216
Other assets	1,518		504		94		1,410		209		13		23		92		18		5		1			3,887
Total assets	$	11,496	$	9,819	$	5,013	$	3,332	$	1,402	$	193	$	219	$	428	$	687	$	193	$	553		$	33,335
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,236	$	2,834	$	1,474	$	2,100	$	153	$	34	$	38	$	69	$	20	$	29	$	168		$	8,155
Securities sold, not yet purchased, at fair value	1,139		—		—		—		—		—		—		—		—		—		—			1,139
Due to brokers	3,725		—		—		—		—		—		—		—		—		—		—			3,725
Post-employment benefit liability	—		1,113		—		9		—		2		—		56		—		—		—			1,180
Debt	—		3,259		1,165		571		287		2		55		265		25		—		5,490			11,119
Total liabilities	6,100		7,206		2,639		2,680		440		38		93		390		45		29		5,658			25,318

Equity attributable to Icahn Enterprises	1,669		2,292		1,034		444		730		155		104		25		642		164		(5,105		)	2,154
Equity attributable to non-controlling interests	3,727		321		1,340		208		232		—		22		13		—		—		—			5,863
Total equity	5,396		2,613		2,374		652		962		155		126		38		642		164		(5,105		)	8,017
Total liabilities and equity	$	11,496	$	9,819	$	5,013	$	3,332	$	1,402	$	193	$	219	$	428	$	687	$	193	$	553		$	33,335