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Discontinued Operations (Tables) | 9 Months Ended
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Sep. 30, 2018
Discontinued Operations [Abstract] |
Discontinued Operations |
| Three Months Ended September 30, 2018 |  | Three Months Ended September 30, 2017
| Automotive |  | Gaming |  | Total |  | Automotive |  | Gaming |  | Total
Revenues: | (in millions)
Net sales | $ | 1,890 |  |  | $ | — |  |  | $ | 1,890 |  |  | $ | 1,889 |  |  | $ | — |  |  | $ | 1,889 |
Other revenues from operations | — |  |  | 233 |  |  | 233 |  |  | — |  |  | 246 |  |  | 246 |
Interest and dividend income | 1 |  |  | — |  |  | 1 |  |  | 3 |  |  | — |  |  | 3 |
Gain on disposition of assets, net | 65 |  |  | — |  |  | 65 |  |  | — |  |  | — |  |  | — |
Other (loss) income, net | (4 | ) |  | 2 |  |  | (2 | ) |  | 5 |  |  | 22 |  |  | 27 |
| 1,952 |  |  | 235 |  |  | 2,187 |  |  | 1,897 |  |  | 268 |  |  | 2,165 |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | 1,562 |  |  | — |  |  | 1,562 |  |  | 1,623 |  |  | — |  |  | 1,623 |
Other expenses from operations | — |  |  | 105 |  |  | 105 |  |  | — |  |  | 110 |  |  | 110 |
Selling, general and administrative | 185 |  |  | 78 |  |  | 263 |  |  | 218 |  |  | 83 |  |  | 301 |
Restructuring, net | 15 |  |  | — |  |  | 15 |  |  | 4 |  |  | — |  |  | 4 |
Impairment | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Interest expense | 45 |  |  | 1 |  |  | 46 |  |  | 40 |  |  | 3 |  |  | 43 |
| 1,807 |  |  | 184 |  |  | 1,991 |  |  | 1,890 |  |  | 196 |  |  | 2,086 |
Income from discontinued operations before income tax expense | 145 |  |  | 51 |  |  | 196 |  |  | 7 |  |  | 72 |  |  | 79 |
Income tax expense | (28 | ) |  | (5 | ) |  | (33 | ) |  | (23 | ) |  | (27 | ) |  | (50 | )
Income (loss) from discontinued operations | 117 |  |  | 46 |  |  | 163 |  |  | (16 | ) |  | 45 |  |  | 29 |
Less: income from discontinued operations attributable to non-controlling interests | 1 |  |  | 7 |  |  | 8 |  |  | 2 |  |  | 7 |  |  | 9 |
Income (loss) from discontinued operations attributable to Icahn Enterprises | $ | 116 |  |  | $ | 39 |  |  | $ | 155 |  |  | $ | (18 | ) |  | $ | 38 |  |  | $ | 20 |
Supplemental information: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures(1) | $ | 88 |  |  | $ | 17 |  |  | $ | 105 |  |  | $ | 91 |  |  | $ | 30 |  |  | $ | 121 |
Depreciation and amortization(2) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 102 |  |  | $ | 19 |  |  | $ | 121 |
| Nine Months Ended September 30, 2018 |  | Nine Months Ended September 30, 2017
| Automotive |  | Gaming |  | Total |  | Automotive |  | Gaming |  | Total
Revenues: | (in millions)
Net sales | $ | 5,993 |  |  | $ | — |  |  | $ | 5,993 |  |  | $ | 5,786 |  |  | $ | — |  |  | $ | 5,786 |
Other revenues from operations | — |  |  | 679 |  |  | 679 |  |  | — |  |  | 684 |  |  | 684 |
Interest and dividend income | 2 |  |  | 1 |  |  | 3 |  |  | 4 |  |  | 1 |  |  | 5 |
Gain (loss) on disposition of assets, net | 65 |  |  | — |  |  | 65 |  |  | — |  |  | (3 | ) |  | (3 | )
Other income, net | 5 |  |  | 1 |  |  | 6 |  |  | 18 |  |  | 23 |  |  | 41 |
| 6,065 |  |  | 681 |  |  | 6,746 |  |  | 5,808 |  |  | 705 |  |  | 6,513 |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of goods sold | 4,999 |  |  | — |  |  | 4,999 |  |  | 4,910 |  |  | — |  |  | 4,910 |
Other expenses from operations | — |  |  | 311 |  |  | 311 |  |  | — |  |  | 317 |  |  | 317 |
Selling, general and administrative | 601 |  |  | 238 |  |  | 839 |  |  | 646 |  |  | 272 |  |  | 918 |
Restructuring, net | 13 |  |  | — |  |  | 13 |  |  | 11 |  |  | — |  |  | 11 |
Impairment | 2 |  |  | — |  |  | 2 |  |  | 6 |  |  | — |  |  | 6 |
Interest expense | 137 |  |  | 4 |  |  | 141 |  |  | 114 |  |  | 9 |  |  | 123 |
| 5,752 |  |  | 553 |  |  | 6,305 |  |  | 5,687 |  |  | 598 |  |  | 6,285 |
Income from discontinued operations before income tax expense | 313 |  |  | 128 |  |  | 441 |  |  | 121 |  |  | 107 |  |  | 228 |
Income tax expense | (69 | ) |  | (19 | ) |  | (88 | ) |  | (49 | ) |  | (48 | ) |  | (97 | )
Income from discontinued operations | 244 |  |  | 109 |  |  | 353 |  |  | 72 |  |  | 59 |  |  | 131 |
Less: income from discontinued operations attributable to non-controlling interests | 7 |  |  | 17 |  |  | 24 |  |  | 8 |  |  | 18 |  |  | 26 |
Income from discontinued operations attributable to Icahn Enterprises | $ | 237 |  |  | $ | 92 |  |  | $ | 329 |  |  | $ | 64 |  |  | $ | 41 |  |  | $ | 105 |
Supplemental information: |  |  |  |  |  |  |  |  |  |  |
Capital expenditures(1) | $ | 303 |  |  | $ | 58 |  |  | $ | 361 |  |  | $ | 276 |  |  | $ | 83 |  |  | $ | 359 |
Depreciation and amortization(2) | $ | 100 |  |  | $ | 19 |  |  | $ | 119 |  |  | $ | 294 |  |  | $ | 54 |  |  | $ | 348 |
(1) Capital expenditures in the tables above represents cash used in investing activities. In addition, non-cash capital expenditures included in accounts payable, accrued expenses and other liabilities for the nine months ended September 30, 2018 and 2017 aggregated $48 million and $63 million, respectively. (2) Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense aggregating $1 million and $2 million for the three months ended September 30, 2018 and 2017, respectively, and $3 million and $5 million for the nine months ended September 30, 2018 and 2017, respectively. Assets and liabilities held for sale consist of the following:
| September 30, 2018 |  | December 31, 2017
| Automotive |  | Gaming |  | Total |  | Automotive |  | Gaming |  | Total
Assets Held For Sale | (in millions)
Cash and cash equivalents | $ | 272 |  |  | $ | 98 |  |  | $ | 370 |  |  | $ | 315 |  |  | $ | 103 |  |  | $ | 418 |
Restricted cash | 5 |  |  | 15 |  |  | 20 |  |  | 4 |  |  | 16 |  |  | 20 |
Investments | 322 |  |  | 7 |  |  | 329 |  |  | 324 |  |  | 7 |  |  | 331 |
Accounts receivable, net | 1,195 |  |  | 11 |  |  | 1,206 |  |  | 1,182 |  |  | 11 |  |  | 1,193 |
Inventories, net | 1,461 |  |  | — |  |  | 1,461 |  |  | 1,456 |  |  | — |  |  | 1,456 |
Property, plant and equipment, net | 2,642 |  |  | 814 |  |  | 3,456 |  |  | 2,545 |  |  | 792 |  |  | 3,337 |
Goodwill | 934 |  |  | — |  |  | 934 |  |  | 941 |  |  | — |  |  | 941 |
Intangible assets, net | 504 |  |  | 66 |  |  | 570 |  |  | 517 |  |  | 74 |  |  | 591 |
Other assets | 429 |  |  | 82 |  |  | 511 |  |  | 394 |  |  | 93 |  |  | 487 |
Assets held for sale (discontinued operations) | $ | 7,764 |  |  | $ | 1,093 |  |  | $ | 8,857 |  |  | $ | 7,678 |  |  | $ | 1,096 |  |  | $ | 8,774 |
Other assets held for sale |  |  |  |  | 34 |  |  |  |  |  |  | 16 |
Total assets held for sale |  |  |  |  | $ | 8,891 |  |  |  |  |  |  | $ | 8,790 |
Liabilities Held For Sale |  |  |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 1,756 |  |  | $ | 129 |  |  | $ | 1,885 |  |  | $ | 1,718 |  |  | $ | 142 |  |  | $ | 1,860 |
Post-retirement benefit liability | 1,015 |  |  | — |  |  | 1,015 |  |  | 1,075 |  |  | — |  |  | 1,075 |
Debt | 3,035 |  |  | 63 |  |  | 3,098 |  |  | 3,130 |  |  | 137 |  |  | 3,267 |
Liabilities held for sale (discontinued operations) | $ | 5,806 |  |  | $ | 192 |  |  | $ | 5,998 |  |  | $ | 5,923 |  |  | $ | 279 |  |  | $ | 6,202 |

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