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Discontinued Operations (Notes) | 9 Months Ended
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Sep. 30, 2018
Discontinued Operations [Abstract] |
Discontinued Operations | Discontinued Operations. As discussed in Note 1, "Description of Business," we operated discontinued operations previously included in our Automotive segment and our former Gaming segment effective in the second quarter of 2018. Income from discontinued operations is summarized as follows:
| 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 |
Other assets held for sale in the table above primarily consists of property, plant and equipment, net for other operations not classified as discontinued operations.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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