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Net Income Per LP Unit
 6 Months Ended
Jun. 30, 2019
Earnings Per Unit [Abstract]  
Net Income Per LP Unit
Net Income Per LP Unit.
The components of the computation of basic and diluted income (loss) per LP unit from continuing and discontinued operations of Icahn Enterprises are as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
  
2019
 
2018
 
2019
 
2018
 
(in millions, except per unit amounts)
Net (loss) income attributable to Icahn Enterprises from continuing operations
$
(474
)
 
$
148

 
$
(868
)
 
$
246

Net (loss) income attributable to Icahn Enterprises from continuing operations allocated to limited partners (98.01% allocation)
$
(465
)
 
$
145

 
$
(851
)
 
$
241

Net income attributable to Icahn Enterprises from discontinued operations allocated to limited partners (98.01% allocation)
$
(23
)
 
$
151

 
$
(23
)
 
$
184

 
 
 
 
 
 
 
 
Basic and diluted (loss) income per LP unit:
 
 
 
 
 
 
 
Continuing operations
$
(2.37
)
 
$
0.81

 
$
(4.39
)
 
$
1.37

Discontinued operations
(0.12
)
 
0.85

 
(0.12
)
 
1.04

 
$
(2.49
)
 
$
1.66

 
$
(4.51
)
 
$
2.41

Basic and diluted weighted average LP units outstanding
196

 
178

 
194

 
176


LP Unit Distributions
On February 26, 2019, Icahn Enterprises declared a quarterly distribution in the amount of $2.00 per depositary unit in which each depositary unitholder had the option to make an election to receive either cash or additional depositary units.
On April 30, 2019, Icahn Enterprises declared a quarterly distribution in the amount of $2.00 per depositary unit in which each depositary unitholder had the option to make an election to receive either cash or additional depositary units.
As a result of the above distributions declared, during the six months ended June 30, 2019, Icahn Enterprises distributed an aggregate 10,034,190 depositary units to unitholders electing to receive depositary units, of which an aggregate of 9,892,032 depositary units were distributed to Mr. Icahn and his affiliates. In connection with these distributions, aggregate cash distributions to all depositary unitholders was $54 million during the three and six months ended June 30, 2019.
2019 At-The-Market Offering
On May 2, 2019, Icahn Enterprises announced the commencement of its "at-the-market" offering pursuant to its Open Market Sale Agreement, pursuant to which Icahn Enterprises may sell its depositary units, from time to time, for up to $400 million in aggregate sale proceeds. During the three months ended June 30, 2019, Icahn Enterprises distributed 137,524 depositary units pursuant to this agreement, resulting in proceeds of $10 million.
2017 Incentive Plan
During the three months ended June 30, 2019 and 2018, Icahn Enterprises distributed 2,831 and 3,087 depositary units, respectively, and 13,487 and 18,158 depositary units during the six months ended June 30, 2019 and 2018, respectively, net of payroll withholdings, with respect to certain restricted depositary units and deferred unit awards that vested during the period in connection with the Icahn Enterprises L.P. 2017 Long Term Incentive Plan (the "2017 Incentive Plan"). The aggregate impact of the 2017 Incentive Plan is not material with respect to our condensed consolidated financial statements, including the calculation of potentially dilutive units and diluted income per LP unit.