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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2018

Disaggregation of Revenue [Line Items]

Condensed statements of operations by reporting segment

	Three Months Ended June 30, 2018
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	602			$	1,914			$	90			$	132			$	26			$	104			$	6			$	45			$	—			$	2,919
Other revenues from operations	—				135				—				57				—				—				—				18				—				—				210
Net gain (loss) from investment activities	372				—				—				(1		)		—				—				—				—				—				38				409
Interest and dividend income	28				—				1				1				—				—				—				5				—				2				37
(Loss) gain on disposition of assets, net	—				—				(5		)		1				(1		)		1				—				—				—				—				(4		)
Other (loss) income, net	(1		)		—				12				—				—				4				(7		)		—				1				(2		)		7
	399				737				1,922				148				131				31				97				29				46				38				3,578
Expenses:
Cost of goods sold	—				384				1,776				84				124				19				80				4				39				—				2,510
Other expenses from operations	—				117				—				32				—				—				—				13				—				—				162
Selling, general and administrative	1				258				39				11				4				6				15				4				9				5				352
Restructuring, net	—				—				—				—				—				—				—				—				1				—				1
Impairment	—				3				—				4				—				—				—				—				—				—				7
Interest expense	1				5				27				6				—				—				3				—				—				83				125
	2				767				1,842				137				128				25				98				21				49				88				3,157
Income (loss) from continuing operations before income tax benefit (expense)	397				(30		)		80				11				3				6				(1		)		8				(3		)		(50		)		421
Income tax benefit (expense)	—				12				(12		)		(4		)		—				(1		)		—				—				—				17				12
Net income (loss) from continuing operations	397				(18		)		68				7				3				5				(1		)		8				(3		)		(33		)		433
Less: net income (loss) from continuing operations attributable to non-controlling interests	240				—				26				3				—				1				(1		)		—				—				—				269
Net income (loss) from continuing operations attributable to Icahn Enterprises	$	157			$	(18	)		$	42			$	4			$	3			$	4			$	—			$	8			$	(3	)		$	(33	)		$	164
Supplemental information:
Capital expenditures	$	—			$	18			$	22			$	5			$	1			$	10			$	6			$	1			$	2			$	—			$	65
Depreciation and amortization(1)	$	—			$	22			$	72			$	16			$	4			$	2			$	6			$	5			$	2			$	—			$	129

	Three Months Ended June 30, 2017
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	569			$	1,434			$	55			$	102			$	22			$	99			$	6			$	45			$	—			$	2,332
Other revenues from operations	—				125				—				121				—				—				—				19				—				—				265
Net gain from investment activities	294				—				—				2				—				—				—				—				—				18				314
Interest and dividend income	27				—				—				1				—				1				—				—				—				3				32
Gain (loss) on disposition of assets, net	—				3				(1		)		1,521				—				—				—				—				—				—				1,523
Other income (loss), net	—				—				—				—				—				1				(2		)		—				—				—				(1		)
	321				697				1,433				1,700				102				24				97				25				45				21				4,465
Expenses:
Cost of goods sold	—				372				1,416				50				98				13				75				4				40				—				2,068
Other expenses from operations	—				120				—				39				—				—				—				13				—				—				172
Selling, general and administrative	3				212				32				15				4				2				16				5				9				9				307
Restructuring, net	—				—				—				—				—				—				2				—				—				—				2
Impairment	—				2				—				67				—				—				—				—				—				—				69
Interest expense	45				4				27				15				—				1				4				1				—				80				177
	48				710				1,475				186				102				16				97				23				49				89				2,795
Income (loss) from continuing operations before income tax benefit (expense)	273				(13		)		(42		)		1,514				—				8				—				2				(4		)		(68		)		1,670
Income tax benefit (expense)	—				11				13				(507		)		1				(2		)		—				—				—				481				(3		)
Net income (loss) from continuing operations	273				(2		)		(29		)		1,007				1				6				—				2				(4		)		413				1,667
Less: net income (loss) from continuing operations attributable to non-controlling interests	176				—				(16		)		4				—				1				—				—				—				—				165
Net income (loss) from continuing operations attributable to Icahn Enterprises	$	97			$	(2	)		$	(13	)		$	1,003			$	1			$	5			$	—			$	2			$	(4	)		$	413			$	1,502
Supplemental information:
Capital expenditures	$	—			$	25			$	34			$	50			$	—			$	8			$	6			$	—			$	1			$	—			$	124
Depreciation and amortization(1)	$	—			$	27			$	71			$	18			$	5			$	1			$	7			$	5			$	2			$	—			$	136

	Six Months Ended June 30, 2018
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	1,160			$	3,451			$	154			$	250			$	46			$	201			$	7			$	87			$	—			$	5,356
Other revenues from operations	—				263				—				109				—				—				—				34				—				—				406
Net gain from investment activities	782				—				—				—				—				—				—				—				—				60				842
Interest and dividend income	46				—				1				1				—				—				—				10				—				5				63
(Loss) gain on disposition of assets, net	—				—				(5		)		5				—				—				—				—				—				—				—
Other (loss) income, net	(1		)		—				73				2				—				5				(13		)		—				1				(1		)		66
	827				1,423				3,520				271				250				51				188				51				88				64				6,733
Expenses:
Cost of goods sold	—				746				3,206				142				234				36				157				5				75				—				4,601
Other expenses from operations	—				229				—				61				—				—				—				23				—				—				313
Selling, general and administrative	2				516				71				20				9				12				30				8				18				11				697
Restructuring, net	—				—				—				—				—				—				—				—				3				—				3
Impairment	—				3				—				4				—				—				—				—				—				—				7
Interest expense	27				8				54				11				—				2				7				1				—				167				277
	29				1,502				3,331				238				243				50				194				37				96				178				5,898
Income (loss) from continuing operations before income tax benefit (expense)	798				(79		)		189				33				7				1				(6		)		14				(8		)		(114		)		835
Income tax benefit (expense)	—				27				(29		)		(10		)		—				(2		)		2				—				—				(2		)		(14		)
Net income (loss) from continuing operations	798				(52		)		160				23				7				(1		)		(4		)		14				(8		)		(116		)		821
Less: net income (loss) from continuing operations attributable to non-controlling interests	480				—				63				8				—				(1		)		(1		)		—				—				—				549
Net income (loss) from continuing operations attributable to Icahn Enterprises	$	318			$	(52	)		$	97			$	15			$	7			$	—			$	(3	)		$	14			$	(8	)		$	(116	)		$	272
Supplemental information:
Capital expenditures	$	—			$	37			$	42			$	24			$	2			$	23			$	11			$	2			$	3			$	—			$	144
Depreciation and amortization(1)	$	—			$	49			$	140			$	31			$	9			$	4			$	13			$	10			$	4			$	—			$	260

	Six Months Ended June 30, 2017
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	1,098			$	2,942			$	116			$	205			$	55			$	189			$	7			$	92			$	—			$	4,704
Other revenues from operations	—				233				—				254				—				—				—				37				—				—				524
Net loss from investment activities	166				—				—				2				—				—				—				—				—				16				184
Interest and dividend income	53				—				—				1				—				1				—				—				—				5				60
Gain (loss) on disposition of assets, net	—				3				(1		)		1,521				—				—				—				—				—				—				1,523
Other (loss) income, net	(41		)		1				12				1				—				(1		)		(3		)		—				—				—				(31		)
	178				1,335				2,953				1,895				205				55				186				44				92				21				6,964
Expenses:
Cost of goods sold	—				729				2,834				105				194				30				143				5				80				—				4,120
Other expenses from operations	—				219				—				82				—				—				—				24				—				—				325
Selling, general and administrative	5				428				70				29				9				8				31				10				19				13				622
Restructuring, net	—				—				—				—				—				—				2				—				—				—				2
Impairment	—				7				—				67				—				—				—				2				—				—				76
Interest expense	92				8				54				34				—				3				7				1				—				162				361
	97				1,391				2,958				317				203				41				183				42				99				175				5,506
Income (loss) from continuing operations before income tax benefit (expense)	81				(56		)		(5		)		1,578				2				14				3				2				(7		)		(154		)		1,458
Income tax benefit (expense)	—				36				4				(519		)		1				(2		)		(1		)		—				—				486				5
Net income (loss) from continuing operations	81				(20		)		(1		)		1,059				3				12				2				2				(7		)		332				1,463
Less: net income (loss) from continuing operations attributable to non-controlling interests	7				—				(5		)		8				—				2				1				—				—				—				13
Net income (loss) from continuing operations attributable to Icahn Enterprises	$	74			$	(20	)		$	4			$	1,051			$	3			$	10			$	1			$	2			$	(7	)		$	332			$	1,450
Supplemental information:
Capital expenditures	$	—			$	35			$	58			$	109			$	2			$	17			$	9			$	—			$	2			$	—			$	232
Depreciation and amortization(1)	$	—			$	55			$	138			$	36			$	10			$	2			$	13			$	10			$	4			$	—			$	268

⁽¹⁾  Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense in the amounts of $1 million and $3 million for the three months ended June 30, 2018 and 2017, respectively, and $2 million and $6 million for the six months ended June 30, 2018 and 2017, respectively.

Condensed balance sheets by reporting segment

	June 30, 2018
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Discontinued Operations				Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	6			$	53			$	534			$	104			$	11			$	11			$	46			$	30			$	1			$	79			$	—			$	875
Cash held at consolidated affiliated partnerships and restricted cash	316				—				—				19				5				—				1				2				7				—				—				350
Investments	8,132				10				83				21				—				—				—				16				—				444				—				8,706
Accounts receivable, net	—				266				190				38				67				6				80				3				32				—				—				682
Inventories, net	—				1,218				433				78				33				27				99				—				63				—				—				1,951
Property, plant and equipment, net	—				951				3,113				1,190				105				208				167				448				71				—				—				6,253
Goodwill and intangible assets, net	—				500				288				7				3				—				35				24				—				—				—				857
Assets held for sale	—				—				6				—				1				—				—								—				—				8,862				8,869
Other assets	890				144				69				24				8				22				88				394				5				3				—				1,647
Total assets	$	9,344			$	3,142			$	4,716			$	1,481			$	233			$	274			$	516			$	917			$	179			$	526			$	8,862			$	30,190
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	497			$	941			$	1,106			$	277			$	55			$	43			$	158			$	54			$	36			$	182			$	—			$	3,349
Securities sold, not yet purchased, at fair value	368				—				—				—				—				—				—				—				—				—				—				368
Due to brokers	—				—				—				—				—				—				—				—				—				—				—				—
Liabilities held for sale	—				—				—				—				—				—				—				—				—				—				6,145				6,145
Debt	—				324				1,167				533				1				54				270				20				6				5,505				—				7,880
Total liabilities	865				1,265				2,273				810				56				97				428				74				42				5,687				6,145				17,742
Equity attributable to Icahn Enterprises	3,354				1,877				1,139				418				177				154				66				843				137				(5,169		)		2,420				5,416
Equity attributable to non-controlling interests	5,125				—				1,304				253				—				23				22				—				—				8				297				7,032
Total equity	8,479				1,877				2,443				671				177				177				88				843				137				(5,161		)		2,717				12,448
Total liabilities and equity	$	9,344			$	3,142			$	4,716			$	1,481			$	233			$	274			$	516			$	917			$	179			$	526			$	8,862			$	30,190

	December 31, 2017
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Discontinued Operations				Consolidated
	(in millions)
ASSETS
Cash and cash equivalents	$	17			$	52			$	482			$	100			$	24			$	15			$	16			$	32			$	—			$	526			$	—			$	1,264
Cash held at consolidated affiliated partnerships and restricted cash	734				—				—				19				5				—				2				2				4				—				—				766
Investments	9,532				—				83				23				—				—				—				16				—				384				—				10,038
Accounts receivable, net	—				224				178				44				40				10				78				3				35				—				—				612
Inventories, net	—				1,145				385				54				33				30				92				—				66				—				—				1,805
Property, plant and equipment, net	—				958				3,213				1,199				110				188				170				454				72				—				—				6,364
Goodwill and intangible assets, net	—				505				298				7				3				—				36				29				—				—				—				878
Assets held for sale	—				—				—				14				2				—				—				—				—				—				8,774				8,790
Other assets	516				127				61				27				9				22				93				395				6				28				—				1,284
Total assets	$	10,799			$	3,011			$	4,700			$	1,487			$	226			$	265			$	487			$	931			$	183			$	938			$	8,774			$	31,801
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,302			$	944			$	1,125			$	262			$	43			$	45			$	172			$	63			$	34			$	243			$	—			$	4,233
Securities sold, not yet purchased, at fair value	1,023				—				—				—				—				—				—				—				—				—				—				1,023
Due to brokers	1,057				—				—				—				—				—				—				—				—				—				—				1,057
Liabilities held for sale	—				—				—				—				—				—				—				—				—				—				6,202				6,202
Debt	—				340				1,166				546				1				58				273				22				5				5,507				—				7,918
Total liabilities	3,382				1,284				2,291				808				44				103				445				85				39				5,750				6,202				20,433
Equity attributable to Icahn Enterprises	3,052				1,727				1,098				428				182				138				28				846				144				(4,821		)		2,284				5,106
Equity attributable to non-controlling interests	4,365				—				1,311				251				—				24				14				—				—				9				288				6,262
Total equity	7,417				1,727				2,409				679				182				162				42				846				144				(4,812		)		2,572				11,368
Total liabilities and equity	$	10,799			$	3,011			$	4,700			$	1,487			$	226			$	265			$	487			$	931			$	183			$	938			$	8,774			$	31,801

Automotive Segment

Disaggregation of Revenue [Line Items]

Disaggregation of revenue

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2017				2018				2017
	(in millions)
Automotive services	$	334			$	294			$	651			$	561
Commercial sales	264				259				500				497
Retail sales	139				141				272				273
	$	737			$	694			$	1,423			$	1,331

Energy Segment

Disaggregation of Revenue [Line Items]

Disaggregation of revenue

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2017				2018				2017
	(in millions)
Petroleum products	$	1,821			$	1,336			$	3,278			$	2,759
Nitrogen fertilizer products	93				98				173				183
	$	1,914			$	1,434			$	3,451			$	2,942

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=82913847&loc=SL49130545-203045

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