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Net Income Per LP Unit | 6 Months Ended
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Jun. 30, 2023
Net Income Per LP Unit [Abstract] |
Net Income Per LP Unit | 13. Net Income Per LP Unit The components of the computation of basic and diluted income per LP unit of Icahn Enterprises are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
​ | ​ | (in millions, except per unit amounts)
Net (loss) income attributable to Icahn Enterprises | ​ | $ | (269) |  | $ | (128) | ​ | $ | (539) |  | $ | 195
Net (loss) income attributable to Icahn Enterprises allocated to limited partners (98.01% allocation) | ​ | $ | (264) | ​ | $ | (125) | ​ | $ | (528) | ​ | $ | 191
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic (loss) income per LP unit: | ​ | $ | (0.72) | ​ | $ | (0.41) | ​ | $ | (1.46) | ​ | $ | 0.64
Basic weighted average LP units outstanding | ​ | ​ | 367 | ​ | ​ | 306 | ​ | ​ | 361 | ​ | ​ | 300
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted (loss) income per LP unit: | ​ | $ | (0.72) | ​ | $ | (0.41) | ​ | $ | (1.46) | ​ | $ | 0.64
Diluted weighted average LP units outstanding | ​ |  | 367 | ​ |  | 306 | ​ |  | 361 | ​ |  | 300
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ ​ LP Unit Transactions Unit Distributions On February 22, 2023, we 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 May 9, 2023, we 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, 2023, we distributed an aggregate 36,490,879 depository units to unitholders who did not elect to receive cash, of which an aggregate of 34,496,953 depository units were distributed to Mr. Icahn and his affiliates. In connection with these distributions, aggregate cash distributions to all depositary unitholders that made a timely election to receive cash was $152 million for the six months ended June 30, 2023. At-The-Market Offerings During the three months ended June 30, 2023, we did not sell depositary units pursuant to our Open Market Sale Agreement. During the six months ended June 30, 2023, we sold 3,395,353 depository units pursuant to the Open Market Sale Agreement, resulting in gross proceeds of $175 million. As of June 30, 2023, we continue to have an active Open Market Sale Agreement and Icahn Enterprises may sell its depositary units for up to an additional $149 million in aggregate gross sale proceeds pursuant to this agreement. Repurchase Authorization On May 9, 2023, the Board of Directors of the General Partner approved a repurchase program which authorizes Icahn Enterprises or affiliates of Icahn Enterprises to repurchase up to an aggregate of $500 million worth of any of our outstanding fixed-rate senior unsecured notes issued by Icahn Enterprises and Icahn Enterprises Finance Corp. and up to an aggregate of $500 million worth of the depositary units issued by Icahn Enterprises (the “Repurchase Program”). The repurchases of senior notes or depositary units may be done for cash from time to time in the open market, through tender offers or in privately negotiated transactions upon such terms and at such prices as management may determine. The authorization of the Repurchase Program is for an indefinite term and does not expire until later terminated by the Board of Directors. As of June 30, 2023, the Company has not repurchased any of the Company’s depository units or senior notes under the Repurchase Program.

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