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Schedule I

12 Months Ended

Dec. 31, 2021

Icahn Enterprises (Parent)

Condensed Financial Statements, Captions [Line Items]

Condensed financial information of parent company

SCHEDULE I

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED BALANCE SHEETS

​	​	​	​	​	​	​
​	​	December 31,
​		2021			2020
​	​	(in millions, except unit amounts)
ASSETS	​	​		​	​
Investments in subsidiaries, net	​	$	9,419	​	$	9,274
Total Assets	​	$	9,419	​	$	9,274
​	​	​	​	​	​	​
LIABILITIES AND EQUITY	​			​
Accrued expenses and other liabilities	​	$	65	​	$	80
Debt	​		5,810	​		5,811
​	​		5,875	​		5,891
​	​	​	​	​	​	​
Commitments and contingencies (Note 3)	​			​
​	​	​	​	​	​	​
Equity:	​			​
Limited partners: Depositary units: 293,403,243 units issued and outstanding at December 31, 2021 and 241,338,835 units issued and outstanding at December 31, 2020	​		4,298	​		4,236
General partner	​		(754)	​		(853)
Total equity	​		3,544	​		3,383
Total Liabilities and Equity	​	$	9,419	​	$	9,274

​

See notes to condensed financial statements.

SCHEDULE I

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED STATEMENTS OF OPERATIONS

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2021			2020			2019
​	​	(in millions)
Interest expense	​	$	(323)	​	$	(342)	​	$	(350)
Gain (loss) on extinguishment of debt	​		3	​		(4)	​		2
Equity in loss of subsidiaries	​		(198)	​		(1,307)	​		(750)
Net loss	​	$	(518)	​	$	(1,653)	​	$	(1,098)
Net (loss) income allocated to:	​			​			​
Limited partners	​	$	(604)	​	$	(1,620)	​	$	(1,076)
General partner	​		86	​		(33)	​		(22)
​	​	$	(518)	​	$	(1,653)	​	$	(1,098)

​

See notes to condensed financial statements.

SCHEDULE I

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED STATEMENTS OF CASH FLOWS

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2021			2020			2019
​	​	(in millions)
Cash flows from operating activities:	​	​	​	​	​	​	​	​	​
Net loss	​	$	(518)	​	$	(1,653)	​	$	(1,098)
Adjustments to reconcile net loss to net cash used in operating activities:	​			​			​
Equity in loss of subsidiary	​		198	​		1,307	​		750
(Gain) loss on extinguishment of debt	​		(3)	​		4	​		(2)
Other, net	​		(15)	​		(23)	​		(25)
Net cash used in operating activities	​		(338)	​		(365)	​		(375)
Cash flows from investing activities:	​			​			​
Net investment in and advances from subsidiaries	​		(366)	​		1,276	​		(363)
Net cash (used in) provided by investing activities	​		(366)	​		1,276	​		(363)
Cash flows from financing activities:	​			​			​
Partnership distributions	​		(134)	​		(526)	​		(112)
Partnership contributions	​		835	​		102	​		55
Proceeds from borrowings	​		1,214	​		866	​		2,507
Repayments of borrowings	​		(1,205)	​		(1,350)	​		(1,700)
Debt issuance costs and other	​		(6)	​		(3)	​		(12)
Net cash provided by (used in) financing activities	​		704	​		(911)	​		738
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents	​		—	​		—	​		—
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period	​		—	​		—	​		—
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period	​	$	—	​	$	—	​	$	—

​

See notes to condensed financial statements.

SCHEDULE I

ICAHN ENTERPRISES L.P.

(Parent Company)

NOTES TO CONDENSED FINANCIAL STATEMENTS

1. Description of Business and Basis of Presentation

Icahn Enterprises, L.P. (“Icahn Enterprises”) is a master limited partnership formed in Delaware on February 17, 1987. We own a 99% limited partner interest in Icahn Enterprises Holdings L.P. (“Icahn Enterprises Holdings”). Icahn Enterprises Holdings and its subsidiaries own substantially all of our assets and liabilities and conduct substantially all of our operations. Icahn Enterprises G.P. Inc., our sole general partner, which is owned and controlled by Carl C. Icahn, owns a 1% general partner interest in both us and Icahn Enterprises Holdings, representing an aggregate 1.99% general partner interest in us and Icahn Enterprises Holdings. As of December 31, 2021, Icahn Enterprises is engaged in the following continuing operating businesses: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma. In addition, we operated a Metals business until sold in December 2021 and a Mining business until sold in August 2019.

For the years ended December 31, 2021, 2020 and 2019, Icahn Enterprises received (paid) $(366) million, $1,276 million and $(363) million, respectively, for net investment in and advances from subsidiaries.

The condensed financial statements of Icahn Enterprises should be read in conjunction with the consolidated financial statements and notes thereto included in Item 8 of this Report.

2. Debt

See Note 11, “Debt,” to the consolidated financial statements located in Item 8 of this Report. Icahn Enterprises’ Parent company debt consists of the following:

​

​	​	​	​	​	​	​
​	​	December 31,
​		2021			2020
​	​	(in millions)
6.250% senior unsecured notes due 2022	​	$	—	​	$	1,209
6.750% senior unsecured notes due 2024	​		499	​		499
4.750% senior unsecured notes due 2024	​		1,105	​		1,106
6.375% senior unsecured notes due 2025	​		748	​		748
6.250% senior unsecured notes due 2026	​		1,250	​		1,250
5.250% senior unsecured notes due 2027	​		1,461	​		999
4.375% senior unsecured notes due 2029	​		747	​		—
Total debt	​	$	5,810	​	$	5,811

​

In February 2022, Icahn Enterprises repaid all of its outstanding $500 million aggregate principal amount of 6.750% senior unsecured notes due 2024 at par.

3. Commitments and Contingencies

See Note 17, “Commitments and Contingencies,” to the consolidated financial statements located in Item 8 of this Report.

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