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Net Income Per LP Unit | 12 Months Ended
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Dec. 31, 2019
Earnings Per Unit [Abstract] |
Earnings Per Share [Text Block] | 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:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
| (in millions, except per unit data) |  |  |  |
Net (loss) income attributable to Icahn Enterprises from continuing operations | $ | (1,066) |  |  | $ | (238) |  |  | $ | 2,297 |
Net (loss) income attributable to Icahn Enterprises from continuing operations allocated to limited partners (98.01% allocation) | $ | (1,045) |  |  | $ | (233) |  |  | $ | 2,251 |
Net (loss) income attributable to Icahn Enterprises from discontinued operations | $ | (32) |  |  | $ | 1,720 |  |  | $ | 157 |
Less: net loss attributable to Icahn Enterprises from discontinued operations allocated 100% to general partner | — |  |  | 598 |  |  | — |
Net (loss) income attributable to Icahn Enterprises from discontinued operations allocable to limited partners | $ | (32) |  |  | $ | 2,318 |  |  | $ | 157 |
Net (loss) income attributable to Icahn Enterprises from discontinued operations allocated to limited partners (98.01% allocation) | $ | (31) |  |  | $ | 2,272 |  |  | $ | 154 |
Basic and diluted (loss) income per LP unit: |  |  |  |  |
Continuing operations | $ | (5.23) |  |  | $ | (1.29) |  |  | $ | 13.98 |
Discontinued operations | (0.15) |  |  | 12.62 |  |  | 0.96 |
| $ | (5.38) |  |  | $ | 11.33 |  |  | $ | 14.94 |
Basic and diluted weighted average LP units outstanding | 200 |  |  | 180 |  |  | 161 |
GP Allocation As disclosed in Note 2, “Basis of Presentation and Summary of Significant Accounting Policies - Acquisition, Investments and Disposition of Entities under Common Control,” upon the sale of common control entities, such as Federal-Mogul and ARI, a portion of the gain or loss on the sale is first allocated to the general partner in order to restore the general partners’ capital account for cumulative charges or credits relating to periods prior to our obtaining a controlling interest in such entities from Mr. Icahn and his affiliates. After such general partner allocation, the remaining gain is allocated among our general partner and limited partners, in accordance with their respective ownership percentages. LP Unit Transactions The following table summarizes the changes in Icahn Enterprises outstanding depositary units during each of the years ended December 31, 2019, 2018 and 2017.
| Mr. Icahn and Affiliates |  | Public Unitholders |  | Total
December 31, 2016 | 129,999,050 |  |  |  | 14,742,099 |  |  | 144,741,149 |
Unit distributions | 17,374,427 |  |  |  | 269,725 |  |  | 17,644,152 |
2017 Incentive Plan | — |  |  |  | 7,902 |  |  | 7,902 |
Rights offering | 10,525,105 |  |  |  | 645,999 |  |  | 11,171,104 |
December 31, 2017 | 157,898,582 |  |  | 15,665,725 |  |  | 173,564,307 |
Unit distributions | 17,543,006 |  |  |  | 235,944 |  |  |  | 17,778,950 |
2017 Incentive Plan | — |  |  |  | 22,840 |  |  |  | 22,840 |
December 31, 2018 | 175,441,588 |  |  |  | 15,924,509 |  |  |  | 191,366,097 |
Unit distributions | 21,608,064 |  |  |  | 290,789 |  |  |  | 21,898,853 |
2017 Incentive Plan | — |  |  |  | 19,259 |  |  |  | 19,259 |
2019 at-the-market offering | — |  |  |  | 794,349 |  |  |  | 794,349 |
December 31, 2019 | 197,049,652 |  |  |  | 17,028,906 |  |  |  | 214,078,558 |
Unit Distributions During each of the years ended December 31, 2019, 2018 and 2017, we declared four quarterly distributions. Depositary unitholders were given the option to make an election to receive the distributions in either cash or additional depositary units. If a holder did not make an election, it was automatically deemed to have elected to receive the distributions in cash. 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 year ended December 31, 2019, we received gross proceeds of $54 million in connection with this offering. 2017 Incentive Plan During the years ended December 31, 2019, 2018 and 2017, Icahn Enterprises distributed depositary units, net of payroll withholdings, with respect to certain restricted depositary units and deferred unit awards that vested during the respective periods 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 consolidated financial statements, including the calculation of potentially dilutive units and diluted income per LP unit. Rights Offering In January 2017, Icahn Enterprises commenced a rights offering entitling holders of the rights to acquire newly issued depositary units of Icahn Enterprises. In connection with this rights offering, we received aggregate proceeds of $600 million in 2017 from depositary unitholders and an additional $12 million from our general partner in order to maintain its aggregate 1.99% interest in us.

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