Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2017

Condensed statements of operations by reporting segment



	Three Months Ended June 30, 2017
	Investment		Automotive		Energy			Railcar			Gaming			Metals		Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—	$	2,518	$	1,435		$	55		$	—		$	102	$	22		$	99		$	6	$	45		$	—		$	4,282
Other revenues from operations	—		125		—			121			222			—		—			—			19		—			—			487
Net income from investment activities	294		—		—			2			—			—		—			—			—		—			18			314
Interest and dividend income	27		1		—			1			—			—		1			—			—		—			3			33
Gain (loss) on disposition of assets, net	—		5		(1		)	1,521			—			—		—			—			—		—			—			1,525
Other income (loss), net	—		12		1			—			—			—		1			(1		)	—		—			—			13
	321		2,661		1,435			1,700			222			102		24			98			25		45			21			6,654
Expenses:
Cost of goods sold	—		2,027		1,416			50			—			98		13			75			4		40			—			3,723
Other expenses from operations	—		120		—			39			107			—		—			—			12		—			—			278
Selling, general and administrative	3		435		34			15			91			4		2			17			4		9			9			623
Restructuring, net	—		—		—			—			—			—		—			2			—		—			—			2
Impairment	—		2		—			67			—			—		—			—			—		—			—			69
Interest expense	45		42		27			15			3			—		1			4			1		—			80			218
	48		2,626		1,477			186			201			102		16			98			21		49			89			4,913
Income (loss) before income tax benefit (expense)	273		35		(42		)	1,514			21			—		8			—			4		(4		)	(68		)	1,741
Income tax benefit (expense)	—		511		13			(507		)	(7		)	1		(2		)	—			—		—			(25		)	(16		)
Net income (loss)	273		546		(29		)	1,007			14			1		6			—			4		(4		)	(93		)	1,725
Less: net income (loss) attributable to non-controlling interests	176		3		(16		)	4			4			—		1			—			—		—			—			172
Net income (loss) attributable to Icahn Enterprises	$	97	$	543	$	(13	)	$	1,003		$	10		$	1	$	5		$	—		$	4	$	(4	)	$	(93	)	$	1,553

Supplemental information:
Capital expenditures	$	—	$	109	$	33		$	50		$	31		$	1	$	8		$	6		$	—	$	1		$	—		$	239
Depreciation and amortization⁽¹⁾	$	—	$	126	$	71		$	18		$	17		$	5	$	1		$	7		$	5	$	2		$	—		$	252



	Three Months Ended June 30, 2016
	Investment			Automotive			Energy			Railcar			Gaming			Metals			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	2,473		$	1,283		$	97		$	—		$	76		$	21		$	85		$	6	$	53		$	—		$	4,094
Other revenues from operations	—			118			—			133			254			—			—			—			18		—			—			523
Net (loss) gain from investment activities	(308		)	—			—			—			—			—			—			—			—		—			—			(308		)
Interest and dividend income	22			1			—			1			—			—			1			—			—		—			3			28
Gain on disposition of assets, net	—			—			—			—			—			1			—			—			—		—			—			1
Other (loss) income, net	(1		)	22			(7		)	1			—			—			(5		)	1			—		—			1			12
	(287		)	2,614			1,276			232			254			77			17			86			24		53			4			4,350
Expenses:
Cost of goods sold	—			1,986			1,175			82			—			75			16			63			5		46			—			3,448
Other expenses from operations	—			125			—			52			125			—			—			—			12		—			—			314
Selling, general and administrative	19			399			33			10			114			6			4			15			2		9			4			615
Restructuring, net	—			6			—			—			—			—			—			—			—		—			—			6
Impairment	—			—			—			—			—			—			—			—			—		—			—			—
Interest expense	45			38			19			21			3			—			2			3			—		—			71			202
	64			2,554			1,227			165			242			81			22			81			19		55			75			4,585
(Loss) income before income tax (expense) benefit	(351		)	60			49			67			12			(4		)	(5		)	5			5		(2		)	(71		)	(235		)
Income tax (expense) benefit	—			(18		)	(15		)	(15		)	(4		)	3			—			(3		)	—		—			2			(50		)
Net (loss) income	(351		)	42			34			52			8			(1		)	(5		)	2			5		(2		)	(69		)	(285		)
Less: net (loss) income attributable to non-controlling interests	(244		)	7			12			8			2			—			(1		)	—			—		—			—			(216		)
Net (loss) income attributable to Icahn Enterprises	$	(107	)	$	35		$	22		$	44		$	6		$	(1	)	$	(4	)	$	2		$	5	$	(2	)	$	(69	)	$	(69	)

Supplemental information:
Capital expenditures	$	—		$	109		$	35		$	23		$	32		$	1		$	3		$	3		$	—	$	5		$	—		$	211
Depreciation and amortization⁽¹⁾	$	—		$	113		$	67		$	34		$	18		$	5		$	—		$	6		$	6	$	2		$	—		$	251



	Six Months Ended June 30, 2017
	Investment			Automotive		Energy			Railcar			Gaming			Metals		Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	4,995	$	2,942		$	116		$	—		$	205	$	55		$	189		$	7	$	92		$	—		$	8,601
Other revenues from operations	—			233		—			254			439			—		—			—			36		—			—			962
Net income from investment activities	166			—		—			2			—			—		—			—			—		—			16			184
Interest and dividend income	53			1		—			1			1			—		1			—			—		—			5			62
Gain (loss) on disposition of assets, net	—			3		(1		)	1,521			(3		)	—		—			—			—		—			—			1,520
Other (loss) income, net	(41		)	30		13			1			1			—		(1		)	(1		)	—		—			—			2
	178			5,262		2,954			1,895			438			205		55			188			43		92			21			11,331
Expenses:
Cost of goods sold	—			4,023		2,835			105			—			194		30			143			5		80			—			7,415
Other expenses from operations	—			219		—			82			208			—		—			—			23		—			—			532
Selling, general and administrative	5			865		70			29			193			9		8			33			6		19			13			1,250
Restructuring, net	—			7		—			—			—			—		—			2			—		—			—			9
Impairment	—			8		—			67			—			—		—			—			2		—			—			77
Interest expense	92			82		54			34			6			—		3			7			1		—			162			441
	97			5,204		2,959			317			407			203		41			185			37		99			175			9,724
Income (loss) before income tax benefit (expense)	81			58		(5		)	1,578			31			2		14			3			6		(7		)	(154		)	1,607
Income tax benefit (expense)	—			518		4			(519		)	(21		)	1		(2		)	(1		)	—		—			(22		)	(42		)
Net income (loss)	81			576		(1		)	1,059			10			3		12			2			6		(7		)	(176		)	1,565
Less: net income (loss) attributable to non-controlling interests	7			6		(5		)	8			11			—		2			1			—		—			—			30
Net income (loss) attributable to Icahn Enterprises	$	74		$	570	$	4		$	1,051		$	(1	)	$	3	$	10		$	1		$	6	$	(7	)	$	(176	)	$	1,535

Supplemental information:
Capital expenditures	$	—		$	220	$	57		$	109		$	53		$	3	$	17		$	9		$	—	$	2		$	—		$	470
Depreciation and amortization⁽¹⁾	$	—		$	247	$	138		$	36		$	35		$	10	$	2		$	13		$	10	$	4		$	—		$	495



	Six Months Ended June 30, 2016
	Investment			Automotive			Energy			Railcar			Gaming			Metals			Mining			Food Packaging			Real Estate		Home Fashion			Holding Company			Consolidated
	(in millions)
Revenues:
Net sales	$	—		$	4,794		$	2,189		$	221		$	—		$	134		$	31		$	162		$	8	$	103		$	—		$	7,642
Other revenues from operations	—			198			—			265			472			—			—			—			34		—			—			969
Net (loss) gain from investment activities	(1,253		)	—			—			—			—			—			—			—			—		—			9			(1,244		)
Interest and dividend income	60			2			—			2			—			—			1			—			—		—			5			70
Gain on disposition of assets, net	—			9			—			—			—			1			—			—			1		—			—			11
Other (loss) income, net	(2		)	37			(8		)	3			—			—			(8		)	5			—		1			1			29
	(1,195		)	5,040			2,181			491			472			135			24			167			43		104			15			7,477
Expenses:
Cost of goods sold	—			3,898			2,102			184			—			139			30			124			6		88			—			6,571
Other expenses from operations	—			201			—			106			231			—			—			—			22		—			—			560
Selling, general and administrative	7			749			68			22			211			10			8			27			5		18			8			1,133
Restructuring, net	—			21			—			—			—			—			—			—			—		—			—			21
Impairment	—			3			574			—			—			—			—			—			—		—			—			577
Interest expense	132			77			30			44			6			—			3			6			1		—			144			443
	139			4,949			2,774			356			448			149			41			157			34		106			152			9,305
(Loss) income before income tax (expense) benefit	(1,334		)	91			(593		)	135			24			(14		)	(17		)	10			9		(2		)	(137		)	(1,828		)
Income tax (expense) benefit	—			(21		)	13			(33		)	(10		)	7			(1		)	(4		)	—		—			(17		)	(66		)
Net (loss) income	(1,334		)	70			(580		)	102			14			(7		)	(18		)	6			9		(2		)	(154		)	(1,894		)
Less: net (loss) income attributable to non-controlling interests	(777		)	14			(249		)	22			5			—			(4		)	1			—		—			—			(988		)
Net (loss) income attributable to Icahn Enterprises	$	(557	)	$	56		$	(331	)	$	80		$	9		$	(7	)	$	(14	)	$	5		$	9	$	(2	)	$	(154	)	$	(906	)

Supplemental information:
Capital expenditures	$	—		$	208		$	83		$	62		$	48		$	2		$	5		$	6		$	—	$	7		$	—		$	421
Depreciation and amortization⁽¹⁾	$	—		$	217		$	123		$	68		$	35		$	11		$	1		$	11		$	11	$	4		$	—		$	481


⁽¹⁾	Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense in the amounts of $4 million and $4 million for the three months ended June 30, 2017 and 2016, respectively, and $9 million and $8 million for the six months ended June 30, 2017 and 2016, respectively.

Condensed balance sheets by reporting segment



	June 30, 2017
	Investment		Automotive		Energy		Railcar		Gaming		Metals		Mining		Food Packaging		Real Estate		Home Fashion		Holding Company			Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	17	$	387	$	830	$	103	$	267	$	9	$	25	$	14	$	83	$	1	$	653		$	2,389
Cash held at consolidated affiliated partnerships and restricted cash	968		—		—		19		15		5		—		2		2		5		3			1,019
Investments	8,620		280		7		27		29		—		—		—		—		—		339			9,302
Accounts receivable, net	—		1,389		142		45		10		54		3		76		3		35		—			1,757
Inventories, net	—		2,528		318		71		—		32		27		91		—		75		—			3,142
Property, plant and equipment, net	—		3,417		3,285		1,164		787		92		168		169		455		73		—			9,610
Goodwill and intangible assets, net	—		1,769		308		7		75		3		—		34		34		1		—			2,231
Other assets	1,415		616		69		468		207		27		20		105		161		7		12			3,107
Total assets	$	11,020	$	10,386	$	4,959	$	1,904	$	1,390	$	222	$	243	$	491	$	738	$	197	$	1,007		$	32,557
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,537	$	3,018	$	1,518	$	339	$	160	$	50	$	37	$	93	$	71	$	38	$	266		$	7,127
Securities sold, not yet purchased, at fair value	1,729		—		—		—		—		—		—		—		—		—		—			1,729
Due to brokers	676		—		—		—		—		—		—		—		—		—		—			676
Post-employment benefit liability	—		1,127		—		9		—		2		—		72		—		—		—			1,210
Debt	—		3,411		1,166		559		286		1		56		273		24		2		5,507			11,285
Total liabilities	3,942		7,556		2,684		907		446		53		93		438		95		40		5,773			22,027

Equity attributable to Icahn Enterprises	2,742		2,678		958		786		702		169		125		37		643		157		(4,766		)	4,231
Equity attributable to non-controlling interests	4,336		152		1,317		211		242		—		25		16		—		—		—			6,299
Total equity	7,078		2,830		2,275		997		944		169		150		53		643		157		(4,766		)	10,530
Total liabilities and equity	$	11,020	$	10,386	$	4,959	$	1,904	$	1,390	$	222	$	243	$	491	$	738	$	197	$	1,007		$	32,557



	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