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Segment Reporting

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

12.  Segment Reporting

We report segment information based on the various industries in which our businesses operate and how we manage those businesses in accordance with our investment strategies, which may include: identifying and acquiring undervalued assets and businesses, often through the purchase of distressed securities; increasing value through management, financial or other operational changes; and managing complex legal, regulatory or financial issues, which may include bankruptcy or insolvency, environmental, zoning, permitting and licensing issues. Therefore, although many of our businesses are operated under separate local management, certain of our businesses are grouped together when they operate within a similar industry, comprising similarities in products, customers, production processes and regulatory environments, and when such businesses, when considered together, may be managed in accordance with one or more investment strategies specific to those businesses. Among other measures, we assess and measure segment operating results based on net income from continuing operations attributable to Icahn Enterprises. Certain terms of financings for certain of our businesses impose restrictions on the business’ ability to transfer funds to us, including restrictions on dividends, distributions, loans and other transactions.

​

​

​

​

​

Condensed Statements of Operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended March 31, 2022

​

Investment

Energy

Automotive

Food Packaging

Real Estate

Home Fashion

Pharma

Metals

Holding Company

Consolidated

​

​

(in millions)

Revenues:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net sales

​

$

—

​

$

2,373

​

$

407

​

$

101

​

$

17

​

$

55

​

$

15

​

$

—

​

$

—

​

$

2,968

Other revenues from operations

​

—

​

—

​

147

​

—

​

11

​

—

​

1

​

—

​

—

​

159

Net gain from investment activities

​

908

​

—

​

—

​

—

​

—

​

—

​

—

​

—

​

31

​

939

Interest and dividend income

​

40

​

—

​

—

​

—

​

—

​

—

​

—

​

—

​

2

​

42

Other (loss) income, net

​

(17)

​

(10)

​

2

​

1

​

—

​

—

​

1

​

—

​

(1)

​

(24)

​

​

931

​

2,363

​

556

​

102

​

28

​

55

​

17

​

—

​

32

​

4,084

Expenses:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cost of goods sold

​

—

​

2,123

​

267

​

81

​

10

​

45

​

12

​

—

​

—

​

2,538

Other expenses from operations

​

—

​

—

​

117

​

—

​

11

​

—

​

—

​

—

​

—

​

128

Selling, general and administrative

​

4

​

45

​

208

​

13

​

4

​

11

​

10

​

—

​

6

​

301

Interest expense

​

32

​

24

​

1

​

1

​

—

​

—

​

—

​

—

​

76

​

134

​

​

36

​

2,192

​

593

​

95

​

25

​

56

​

22

​

—

​

82

​

3,101

Income (loss) before income tax benefit (expense)

​

895

​

171

​

(37)

​

7

​

3

​

(1)

​

(5)

​

—

​

(50)

​

983

Income tax expense

​

—

​

(30)

​

9

​

(1)

​

—

​

—

​

—

​

—

​

(76)

​

(98)

Net income (loss)

​

895

​

141

​

(28)

​

6

​

3

​

(1)

​

(5)

​

—

​

(126)

​

885

Less: net income (loss) attributable to non-controlling interests

​

481

​

80

​

—

​

1

​

—

​

—

​

—

​

—

​

—

​

562

Net income (loss) attributable to Icahn Enterprises

​

$

414

​

$

61

​

$

(28)

​

$

5

​

$

3

​

$

(1)

​

$

(5)

​

$

—

​

$

(126)

​

$

323

Supplemental information:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital expenditures

​

$

—

​

$

26

​

$

21

​

$

4

​

$

4

​

$

—

​

$

—

​

$

—

​

$

—

​

$

55

Depreciation and amortization

​

$

—

​

$

83

​

$

20

​

$

7

​

$

3

​

$

2

​

$

7

​

$

—

​

$

—

​

$

122

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended March 31, 2021
​		Investment			Energy			Automotive			Food Packaging			Real Estate			Home Fashion			Pharma			Metals			Holding Company			Consolidated
​	​	(in millions)																											​	​
Revenues:			​	​		​	​		​	​		​	​		​	​		​	​		​	​		​	​		​			​
Net sales	​	$	—	​	$	1,463	​	$	456	​	$	101	​	$	8	​	$	41	​	$	29	​	$	120	​	$	—	​	$	2,218
Other revenues from operations	​		—		​	—		​	142		​	—		​	9		​	—		​	1		​	—		​	—		​	152
Net gain from investment activities	​		939		​	62		​	—		​	—		​	—		​	—		​	—		​	—		​	5		​	1,006
Interest and dividend income	​		25		​	—		​	—		​	—		​	—		​	—		​	—		​	—		​	1		​	26
Other (loss) income, net	​		(21)		​	7		​	(1)		​	(6)		​	—		​	—		​	—		​	1		​	2		​	(18)
​	​		943		​	1,532		​	597		​	95		​	17		​	41		​	30		​	121		​	8		​	3,384
Expenses:	​		​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Cost of goods sold	​		—		​	1,579		​	313		​	80		​	7		​	34		​	14		​	112		​	—		​	2,139
Other expenses from operations	​		—		​	—		​	112		​	—		​	6		​	—		​	—		​	—		​	—		​	118
Selling, general and administrative	​		5		​	35		​	227		​	13		​	5		​	11		​	8		​	4		​	8		​	316
Interest expense	​		76		​	31		​	3		​	2		​	—		​	—		​	—		​	—		​	83		​	195
​	​		81		​	1,645		​	655		​	95		​	18		​	45		​	22		​	116		​	91		​	2,768
Income (loss) before income tax benefit (expense)	​		862		​	(113)		​	(58)		​	—		​	(1)		​	(4)		​	8		​	5		​	(83)		​	616
Income tax benefit (expense)	​		—		​	46		​	12		​	(1)		​	—		​	—		​	—		​	—		​	(74)		​	(17)
Net income (loss)	​		862		​	(67)		​	(46)		​	(1)		​	(1)		​	(4)		​	8		​	5		​	(157)		​	599
Less: net income loss attributable to non-controlling interests	​		471		​	(34)		​	—		​	—		​	—		​	—		​	—		​	—		​	—		​	437
Net (loss) income attributable to Icahn Enterprises	​	$	391	​	$	(33)	​	$	(46)	​	$	(1)	​	$	(1)	​	$	(4)	​	$	8	​	$	5	​	$	(157)	​	$	162
Supplemental information:	​		​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Capital expenditures	​	$	—	​	$	34	​	$	8	​	$	2	​	$	1	​	$	1	​	$	—	​	$	1	​	$	—	​	$	47
Depreciation and amortization	​	$	—	​	$	82	​	$	22	​	$	7	​	$	3	​	$	2	​	$	7	​	$	4	​	$	—	​	$	127

​

​

Disaggregation of Revenue

In addition to the condensed statements of operations by reporting segment above, we provide additional disaggregated revenue information for our Energy and Automotive segments below

Energy

​

​	​	​	​	​	​	​
​	​	Three Months Ended March 31,
​		2022			2021
​	​	​	(in millions)
Petroleum products	​	$	2,150	​	$	1,402
Nitrogen fertilizer products	​		223	​		61
​	​	$	2,373	​	$	1,463

​

Automotive

​

​	​	​	​	​	​	​
​	​	Three Months Ended March 31,
​		2022			2021
​	​	​	(in millions)
Automotive services	​	$	353	​	$	327
Aftermarket parts sales	​		201	​		271
​	​	$	554	​	$	598

​

​

Condensed Balance Sheets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

March 31, 2022

​

​

Investment

​

Energy

​

Automotive

​

Food Packaging

​

Real Estate

​

Home Fashion

​

Pharma

​

Holding Company

​

Consolidated

​

​

(in millions)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

20

​

$

676

​

$

36

​

$

10

​

$

28

​

$

3

​

$

18

​

$

1,369

​

$

2,160

Cash held at consolidated affiliated partnerships and restricted cash

​

3,699

​

7

​

17

​

—

​

12

​

—

​

—

​

66

​

3,801

Investments

​

7,276

​

78

​

—

​

—

​

15

​

—

​

—

​

28

​

7,397

Accounts receivable, net

​

—

​

353

​

110

​

84

​

10

​

29

​

18

​

—

​

604

Inventories, net

​

—

​

683

​

805

​

104

​

—

​

111

​

17

​

—

​

1,720

Property, plant and equipment, net

​

—

​

2,720

​

789

​

143

​

350

​

59

​

—

​

6

​

4,067

Goodwill and intangible assets, net

​

—

​

216

​

360

​

27

​

—

​

19

​

247

​

—

​

869

Other assets

​

6,178

​

277

​

495

​

104

​

107

​

22

​

5

​

23

​

7,211

Total assets

​

$

17,173

​

$

5,010

​

$

2,612

​

$

472

​

$

522

​

$

243

​

$

305

​

$

1,492

​

$

27,829

LIABILITIES AND EQUITY

​

​

​

​

​

​

​

​

​

​

Accounts payable, accrued expenses and other liabilities

​

$

2,113

​

$

1,973

​

$

986

​

$

152

​

$

55

​

$

64

​

$

51

​

$

775

​

$

6,169

Securities sold, not yet purchased, at fair value

​

4,776

​

—

​

—

​

—

​

—

​

—

​

—

​

—

​

4,776

Debt

​

—

​

1,595

​

20

​

158

​

1

​

41

​

—

​

5,311

​

7,126

Total liabilities

​

6,889

​

3,568

​

1,006

​

310

​

56

​

105

​

51

​

6,086

​

18,071

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity attributable to Icahn Enterprises

​

4,684

​

746

​

1,606

​

147

​

462

​

138

​

254

​

(4,594)

​

3,443

Equity attributable to non-controlling interests

​

5,600

​

696

​

—

​

15

​

4

​

—

​

—

​

—

​

6,315

Total equity

​

10,284

​

1,442

​

1,606

​

162

​

466

​

138

​

254

​

(4,594)

​

9,758

Total liabilities and equity

​

$

17,173

​

$

5,010

​

$

2,612

​

$

472

​

$

522

​

$

243

​

$

305

​

$

1,492

​

$

27,829

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2021

​

​

Investment

​

Energy

​

Automotive

​

Food Packaging

​

Real Estate

​

Home Fashion

​

Pharma

​

Holding Company

​

Consolidated

​

​

(in millions)

ASSETS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

19

​

$

510

​

$

28

​

$

10

​

$

30

​

$

3

​

$

14

​

$

1,707

​

$

2,321

Cash held at consolidated affiliated partnerships and restricted cash

​

2,008

​

7

​

17

​

—

​

11

​

—

​

—

​

72

​

2,115

Investments

​

8,952

​

79

​

—

​

—

​

15

​

—

​

—

​

105

​

9,151

Accounts receivable, net

​

—

​

299

​

103

​

82

​

10

​

32

​

20

​

—

​

546

Inventories, net

​

—

​

484

​

780

​

93

​

—

​

106

​

15

​

—

​

1,478

Property, plant and equipment, net

​

—

​

2,735

​

786

​

147

​

351

​

60

​

—

​

6

​

4,085

Goodwill and intangible assets, net

​

—

​

221

​

362

​

27

​

—

​

21

​

254

​

—

​

885

Other assets

​

6,156

​

252

​

506

​

99

​

109

​

21

​

6

​

16

​

7,165

Total assets

​

$

17,135

​

$

4,587

​

$

2,582

​

$

458

​

$

526

​

$

243

​

$

309

​

$

1,906

​

$

27,746

LIABILITIES AND EQUITY

​

​

​

​

​

​

​

​

​

​

Accounts payable, accrued expenses and other liabilities

​

$

2,405

​

$

1,579

​

$

981

​

$

146

​

$

49

​

$

71

​

$

50

​

$

90

​

$

5,371

Securities sold, not yet purchased, at fair value

​

5,340

​

—

​

—

​

—

​

—

​

—

​

—

​

—

​

5,340

Debt

​

—

​

1,660

​

26

​

155

​

1

​

40

​

—

​

5,810

​

7,692

Total liabilities

​

7,745

​

3,239

​

1,007

​

301

​

50

​

111

​

50

​

5,900

​

18,403

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity attributable to Icahn Enterprises

​

4,271

​

686

​

1,575

​

143

​

472

​

132

​

259

​

(3,994)

​

3,544

Equity attributable to non-controlling interests

​

5,119

​

662

​

—

​

14

​

4

​

—

​

—

​

—

​

5,799

Total equity

​

9,390

​

1,348

​

1,575

​

157

​

476

​

132

​

259

​

(3,994)

​

9,343

Total liabilities and equity

​

$

17,135

​

$

4,587

​

$

2,582

​

$

458

​

$

526

​

$

243

​

$

309

​

$

1,906

​

$

27,746

​

​

​

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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