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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2018

Disaggregation of Revenue [Line Items]

Condensed statements of operations by reporting segment

	Three Months Ended September 30, 2018
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	600			$	1,935			$	40			$	120			$	26			$	98			$	7			$	38			$	—			$	2,864
Other revenues from operations	—				135				—				60				—				—				—				22				—				—				217
Net (loss) gain from investment activities	(549		)		—				—				—				—				—				—				—				—				35				(514		)
Interest and dividend income	27				—				—				—				—				1				1				5				—				2				36
(Loss) gain on disposition of assets, net	—				—				—				—				—				(2		)		—				67				—				—				65
Other (loss) income, net	—				(2		)		8				11				1				2				(2		)		—				—				(1		)		17
	(522		)		733				1,943				111				121				27				97				101				38				36				2,685
Expenses:
Cost of goods sold	—				373				1,742				42				115				18				77				6				33				—				2,406
Other expenses from operations	—				123				—				36				—				—				—				14				—				—				173
Selling, general and administrative	4				253				31				11				5				6				14				2				8				6				340
Restructuring, net	—				4				4				—				—				—				10				—				(1		)		—				17
Impairment	—				—				—				—				—				—				—				—				—				—				—
Interest expense	6				4				26				5				—				—				5				—				—				84				130
	10				757				1,803				94				120				24				106				22				40				90				3,066
(Loss) income from continuing operations before income tax benefit (expense)	(532		)		(24		)		140				17				1				3				(9		)		79				(2		)		(54		)		(381		)
Income tax benefit (expense)	—				11				(31		)		(4		)		—				—				(2		)		(6		)		—				103				71
Net (loss) income from continuing operations	(532		)		(13		)		109				13				1				3				(11		)		73				(2		)		49				(310		)
Less: net (loss) income from continuing operations attributable to non-controlling interests	(326		)		—				43				5				—				—				(2		)		—				—				(1		)		(281		)
Net (loss) income from continuing operations attributable to Icahn Enterprises	$	(206	)		$	(13	)		$	66			$	8			$	1			$	3			$	(9	)		$	73			$	(2	)		$	50			$	(29	)
Supplemental information:
Capital expenditures	$	—			$	16			$	26			$	57			$	8			$	9			$	8			$	2			$	1			$	—			$	127
Depreciation and amortization(1)	$	—			$	23			$	67			$	15			$	4			$	2			$	6			$	5			$	2			$	—			$	124

	Three Months Ended September 30, 2017
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	604			$	1,454			$	68			$	110			$	21			$	99			$	2			$	46			$	—			$	2,404
Other revenues from operations	—				96				—				66				—				—				—				19				—				—				181
Net gain from investment activities	386				—				—				—				—				—				—				—				—				34				420
Interest and dividend income	27				—				1				1				—				—				—				2				—				3				34
Gain (loss) on disposition of assets, net	—				1				(1		)		(10		)		—				—				—				456				—				—				446
Other (loss) income, net	(9		)		(1		)		(16		)		1				(1		)		(2		)		3				39				—				5				19
	404				700				1,438				126				109				19				102				518				46				42				3,504
Expenses:
Cost of goods sold	—				396				1,357				65				105				15				75				2				39				—				2,054
Other expenses from operations	—				107				—				25				—				—				—				12				—				—				144
Selling, general and administrative	3				229				35				9				5				4				13				6				11				8				323
Restructuring, net	—				—				—				—				—				—				1				—				—				—				1
Impairment	—				(1		)		—				1				—				—				—				—				—				—				—
Interest expense	42				2				28				5				—				2				3				—				—				82				164
	45				733				1,420				105				110				21				92				20				50				90				2,686
Income (loss) from continuing operations before income tax benefit (expense)	359				(33		)		18				21				(1		)		(2		)		10				498				(4		)		(48		)		818
Income tax benefit (expense)	—				17				(2		)		(6		)		2				—				(4		)		—				—				(25		)		(18		)
Net income (loss) from continuing operations	359				(16		)		16				15				1				(2		)		6				498				(4		)		(73		)		800
Less: net income (loss) from continuing operations attributable to non-controlling interests	221				—				(2		)		3				—				—				1				—				—				—				223
Net income (loss) from continuing operations attributable to Icahn Enterprises	$	138			$	(16	)		$	18			$	12			$	1			$	(2	)		$	5			$	498			$	(4	)		$	(73	)		$	577
Supplemental information:
Capital expenditures	$	—			$	22			$	23			$	30			$	2			$	10			$	6			$	7			$	2			$	—			$	102
Depreciation and amortization(1)	$	—			$	26			$	70			$	15			$	5			$	2			$	5			$	5			$	2			$	—			$	130

	Nine Months Ended September 30, 2018
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	1,760			$	5,386			$	194			$	370			$	72			$	299			$	14			$	125			$	—			$	8,220
Other revenues from operations	—				398				—				169				—				—				—				65				—				—				632
Net gain from investment activities	233				—				—				—				—				—				—				—				—				95				328
Interest and dividend income	73				—				1				1				—				1				1				15				—				7				99
(Loss) gain on disposition of assets, net	—				—				(5		)		5				—				(2		)		—				67				—				—				65
Other (loss) income, net	(1		)		(2		)		81				13				1				7				(15		)		—				1				(2		)		83
	305				2,156				5,463				382				371				78				285				161				126				100				9,427
Expenses:
Cost of goods sold	—				1,119				4,948				184				349				54				234				11				108				—				7,007
Other expenses from operations	—				352				—				97				—				—				—				41				—				—				490
Selling, general and administrative	6				769				102				31				14				18				44				15				26				17				1,042
Restructuring, net	—				4				4				—				—				—				10				—				2				—				20
Impairment	—				3				—				4				—				—				—				—				—				—				7
Interest expense	33				12				80				16				—				2				12				1				—				251				407
	39				2,259				5,134				332				363				74				300				68				136				268				8,973
Income (loss) from continuing operations before income tax benefit (expense)	266				(103		)		329				50				8				4				(15		)		93				(10		)		(168		)		454
Income tax benefit (expense)	—				38				(60		)		(14		)		—				(2		)		—				(6		)		—				101				57
Net income (loss) from continuing operations	266				(65		)		269				36				8				2				(15		)		87				(10		)		(67		)		511
Less: net income (loss) from continuing operations attributable to non-controlling interests	154				—				106				13				—				(1		)		(3		)		—				—				(1		)		268
Net income (loss) from continuing operations attributable to Icahn Enterprises	$	112			$	(65	)		$	163			$	23			$	8			$	3			$	(12	)		$	87			$	(10	)		$	(66	)		$	243
Supplemental information:
Capital expenditures	$	—			$	53			$	68			$	81			$	10			$	32			$	19			$	9			$	4			$	—			$	276
Depreciation and amortization(1)	$	—			$	72			$	207			$	46			$	13			$	6			$	19			$	15			$	6			$	—			$	384

	Nine Months Ended September 30, 2017
	Investment				Automotive				Energy				Railcar				Metals				Mining				Food Packaging				Real Estate				Home Fashion				Holding Company				Consolidated
	(in millions)
Revenues:
Net sales	$	—			$	1,702			$	4,395			$	184			$	315			$	76			$	288			$	9			$	138			$	—			$	7,107
Other revenues from operations	—				329				—				320				—				—				—				56				—				—				705
Net gain from investment activities	552				—				—				2				—				—				—				—				—				50				604
Interest and dividend income	80				—				1				2				—				1				—				2				—				8				94
Gain (loss) on disposition of assets, net	—				4				(2		)		1,511				—				—				—				456				—				—				1,969
Other (loss) income, net	(50		)		—				(3		)		2				(1		)		(3		)		—				39				—				5				(11		)
	582				2,035				4,391				2,021				314				74				288				562				138				63				10,468
Expenses:
Cost of goods sold	—				1,125				4,191				170				299				45				218				7				119				—				6,174
Other expenses from operations	—				326				—				107				—				—				—				36				—				—				469
Selling, general and administrative	8				657				105				38				14				12				44				16				30				21				945
Restructuring, net	—				—				—				—				—				—				3				—				—				—				3
Impairment	—				6				—				68				—				—				—				2				—				—				76
Interest expense	134				10				82				39				—				5				10				1				—				244				525
	142				2,124				4,378				422				313				62				275				62				149				265				8,192
Income (loss) from continuing operations before income tax benefit (expense)	440				(89		)		13				1,599				1				12				13				500				(11		)		(202		)		2,276
Income tax benefit (expense)	—				53				2				(525		)		3				(2		)		(5		)		—				—				461				(13		)
Net income (loss) from continuing operations	440				(36		)		15				1,074				4				10				8				500				(11		)		259				2,263
Less: net income (loss) from continuing operations attributable to non-controlling interests	228				—				(7		)		11				—				2				2				—				—				—				236
Net income (loss) from continuing operations attributable to Icahn Enterprises	$	212			$	(36	)		$	22			$	1,063			$	4			$	8			$	6			$	500			$	(11	)		$	259			$	2,027
Supplemental information:
Capital expenditures	$	—			$	57			$	80			$	139			$	4			$	27			$	15			$	7			$	4			$	—			$	333
Depreciation and amortization(1)	$	—			$	81			$	208			$	51			$	15			$	4			$	18			$	15			$	6			$	—			$	398

⁽¹⁾  Excludes amounts related to the amortization of deferred financing costs and debt discounts and premiums included in interest expense in the amounts of $3 million and $2 million for the three months ended September 30, 2018 and 2017, respectively, and $5 million and $8 million for the nine months ended September 30, 2018 and 2017, respectively.

Condensed balance sheets by reporting segment

	September 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	$	5			$	46			$	702			$	74			$	20			$	19			$	49			$	40			$	1			$	97			$	—			$	1,053
Cash held at consolidated affiliated partnerships and restricted cash	637				—				—				19				1				—				1				141				2				—				—				801
Investments	8,711				24				83				20				—				—				—				15				—				479				—				9,332
Accounts receivable, net	—				259				214				40				62				8				78				8				31				—				—				700
Inventories, net	—				1,234				427				80				30				26				98				—				66				—				—				1,961
Property, plant and equipment, net	—				947				3,049				1,231				108				215				167				392				70				—				—				6,179
Goodwill and intangible assets, net	—				497				283				7				3				—				34				25				—				—				—				849
Assets held for sale	—				—				33				—				1				—				—								—				—				8,857				8,891
Other assets	395				157				61				27				8				22				88				405				5				41				—				1,209
Total assets	$	9,748			$	3,164			$	4,852			$	1,498			$	233			$	290			$	515			$	1,026			$	175			$	617			$	8,857			$	30,975
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,078			$	914			$	1,147			$	295			$	53			$	48			$	168			$	61			$	37			$	65			$	—			$	3,866
Securities sold, not yet purchased, at fair value	625				—				—				—				—				—				—				—				—				—				—				625
Due to brokers	243				—				—				—				—				—				—				—				—				—				—				243
Liabilities held for sale	—				—				—				—				—				—				—				—				—				—				5,998				5,998
Debt	—				359				1,168				527				1				53				271				19				4				5,505				—				7,907
Total liabilities	1,946				1,273				2,315				822				54				101				439				80				41				5,570				5,998				18,639
Equity attributable to Icahn Enterprises	3,003				1,891				1,231				421				179				166				56				941				134				(4,960		)		2,550				5,612
Equity attributable to non-controlling interests	4,799				—				1,306				255				—				23				20				5				—				7				309				6,724
Total equity	7,802				1,891				2,537				676				179				189				76				946				134				(4,953		)		2,859				12,336
Total liabilities and equity	$	9,748			$	3,164			$	4,852			$	1,498			$	233			$	290			$	515			$	1,026			$	175			$	617			$	8,857			$	30,975

	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 September 30,								Nine Months Ended September 30,
	2018				2017				2018				2017
	(in millions)
Automotive services	$	341			$	311			$	992			$	873
Commercial sales	258				246				758				740
Retail sales	136				143				408				418
	$	735			$	700			$	2,158			$	2,031

Energy Segment

Disaggregation of Revenue [Line Items]

Disaggregation of revenue

	Three Months Ended September 30,								Nine Months Ended September 30,
	2018				2017				2018				2017
	(in millions)
Petroleum products	$	1,855			$	1,384			$	5,133			$	4,142
Nitrogen fertilizer products	80				70				253				253
	$	1,935			$	1,454			$	5,386			$	4,395

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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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