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Schedule I

12 Months Ended

Dec. 31, 2022

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,
​		2022			2021
​	​	(in millions, except unit amounts)
ASSETS	​	​		​	​
Investments in subsidiaries, net	​	$	9,260	​	$	9,419
Total Assets	​	$	9,260	​	$	9,419
​	​	​	​	​	​	​
LIABILITIES AND EQUITY	​			​
Accrued expenses and other liabilities	​	$	51	​	$	65
Debt	​		5,309	​		5,810
​	​		5,360	​		5,875
​	​	​	​	​	​	​
Commitments and contingencies (Note 3)	​			​
​	​	​	​	​	​	​
Equity:	​			​
Limited partners: Depositary units: 353,572,182 units issued and outstanding at December 31, 2022 and 293,403,243 units issued and outstanding at December 31, 2021	​		4,647	​		4,298
General partner	​		(747)	​		(754)
Total equity	​		3,900	​		3,544
Total Liabilities and Equity	​	$	9,260	​	$	9,419

​

See notes to condensed financial statements.

SCHEDULE I

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED STATEMENTS OF OPERATIONS

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2022			2021			2020
​	​	(in millions)
Interest expense	​	$	(290)	​	$	(323)	​	$	(342)
(Loss) gain on extinguishment of debt	​		(1)	​		3	​		(4)
Equity in gain (loss) of subsidiaries	​		108	​		(198)	​		(1,307)
Net loss	​	$	(183)	​	$	(518)	​	$	(1,653)
Net (loss) income allocated to:	​			​			​
Limited partners	​	$	(179)	​	$	(604)	​	$	(1,620)
General partner	​		(4)	​		86	​		(33)
​	​	$	(183)	​	$	(518)	​	$	(1,653)

​

See notes to condensed financial statements.

SCHEDULE I

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED STATEMENTS OF CASH FLOWS

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2022			2021			2020
​	​	(in millions)
Cash flows from operating activities:	​	​	​	​	​	​	​	​	​
Net loss	​	$	(183)	​	$	(518)	​	$	(1,653)
Adjustments to reconcile net loss to net cash used in operating activities:	​			​			​
Equity in (gain) loss of subsidiary	​		(108)	​		198	​		1,307
(Loss) gain on extinguishment of debt	​		1	​		(3)	​		4
Other, net	​		(16)	​		(15)	​		(23)
Net cash used in operating activities	​		(306)	​		(338)	​		(365)
Cash flows from investing activities:	​			​			​
Net investment in and advances from subsidiaries	​		264	​		(366)	​		1,276
Net cash provided by (used in) by investing activities	​		264	​		(366)	​		1,276
Cash flows from financing activities:	​			​			​
Partnership distributions	​		(226)	​		(134)	​		(526)
Partnership contributions	​		768	​		835	​		102
Proceeds from borrowings	​		—	​		1,214	​		866
Repayments of borrowings	​		(500)	​		(1,205)	​		(1,350)
Debt issuance costs and other	​		—	​		(6)	​		(3)
Net cash provided by (used in) financing activities	​		42	​		704	​		(911)
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, 2022, 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.

For the years ended December 31, 2022, 2021 and 2020, Icahn Enterprises received (paid) $264 million, $(366) million and $1,276 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,
​		2022			2021
​	​	(in millions)
6.750% senior unsecured notes due 2024	​		—	​		499
4.750% senior unsecured notes due 2024	​		1,103	​		1,105
6.375% senior unsecured notes due 2025	​		749	​		748
6.250% senior unsecured notes due 2026	​		1,250	​		1,250
5.250% senior unsecured notes due 2027	​		1,460	​		1,461
4.375% senior unsecured notes due 2029	​		747	​		747
Total debt	​	$	5,309	​	$	5,810

​

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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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section S99
-Paragraph 6
-Subparagraph (SX 210.5-04(Schedule I))
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Section S99
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-Subparagraph (SX 210.12-04(a))
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