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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2023

Disaggregation of Revenue [Line Items]

Schedule of Condensed Income Statement by Segment

Condensed Statements of Operations


	Three Months Ended September 30, 2023
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
Revenues:
Net sales	$	—	$	2,522	$	264	$	105	$	29	$	46	$	25	$	—	$	2,991
Other revenues from operations		—		—		180		—		22		—		1		—		203
Net loss from investment activities		(332)		—		—		—		—		—		—		—		(332)
Interest and dividend income		108		10		1		—		—		—		—		24		143
Other (loss) income, net		(21)		3		3		(2)		—		1		—		—		(16)
		(245)		2,535		448		103		51		47		26		24		2,989
Expenses:
Cost of goods sold		—		2,048		174		83		20		37		15		—		2,377
Other expenses from operations		—		—		148		—		17		—		—		—		165
Selling, general and administrative		3		43		116		14		4		9		11		9		209
Restructuring, net		—		—		—		—		—		1		—		—		1
Credit loss on related party note receivable		—		—		—		—		—		—		—		23		23
Loss on deconsolidation of subsidiaries		—		—		—		—		—		—		—		—		—
Interest expense		49		22		2		3		—		1		—		71		148
		52		2,113		440		100		41		48		26		103		2,923
(Loss) income before income tax (expense) benefit		(297)		422		8		3		10		(1)		—		(79)		66
Income tax (expense) benefit		—		(80)		(1)		(3)		—		—		—		(12)		(96)
Net (loss) income		(297)		342		7		—		10		(1)		—		(91)		(30)
Less: net (loss) income attributable to non-controlling interests		(131)		107		—		—		—		—		—		—		(24)
Net (loss) income attributable to Icahn Enterprises	$	(166)	$	235	$	7	$	—	$	10	$	(1)	$	—	$	(91)	$	(6)
Supplemental information:
Capital expenditures	$	—	$	50	$	17	$	2	$	—	$	1	$	—	$	—	$	70
Depreciation and amortization	$	—	$	96	$	17	$	6	$	4	$	2	$	7	$	1	$	133


	Three Months Ended September 30, 2022
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
Revenues:
Net sales	$	—	$	2,699	$	448	$	111	$	14	$	49	$	13	$	—	$	3,334
Other revenues from operations		—		—		177		—		19		—		1		—		197
Net loss from investment activities		(187)		—		—		—		—		—		—		—		(187)
Interest and dividend income		76		3		—		—		—		—		—		9		88
Other (loss) income, net		(26)		2		2		(6)		—		1		—		(1)		(28)
		(137)		2,704		627		105		33		50		14		8		3,404
Expenses:
Cost of goods sold		—		2,569		303		92		9		42		11		—		3,026
Other expenses from operations		—		—		140		—		16				—		—		156
Selling, general and administrative		2		42		213		14		4		15		10		5		305
Restructuring, net		—		—		—		—		—		—		—		—		—
Interest expense		42		22		—		2		—		1		—		72		139
		44		2,633		656		108		29		58		21		77		3,626
(Loss) income before income tax (expense) benefit		(181)		71		(29)		(3)		4		(8)		(7)		(69)		(222)
Income tax (expense) benefit		—		(3)		8		—		—		(1)		—		3		7
Net (loss) income		(181)		68		(21)		(3)		4		(9)		(7)		(66)		(215)
Less: net (loss) income attributable to non-controlling interests		(100)		8		—		—		—		—		—		—		(92)
Net (loss) income attributable to Icahn Enterprises	$	(81)	$	60	$	(21)	$	(3)	$	4	$	(9)	$	(7)	$	(66)	$	(123)
Supplemental information:
Capital expenditures	$	—	$	57	$	36	$	4	$	1	$	2	$	—	$	—	$	100
Depreciation and amortization	$	—	$	92	$	20	$	6	$	3	$	2	$	7	$	1	$	131


	Nine Months Ended September 30, 2023
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
Revenues:
Net sales	$	—	$	7,045	$	799	$	340	$	49	$	132	$	68	$	—	$	8,433
Other revenues from operations		—		—		527		—		58		—		3		—		588
Net loss from investment activities		(1,275)		—		—		—		—		—		—		—		(1,275)
Interest and dividend income		386		23		1		—		—		—		—		71		481
Other (loss) income, net		(67)		9		6		(8)		1		1		1		—		(57)
		(956)		7,077		1,333		332		108		133		72		71		8,170
Expenses:
Cost of goods sold		—		5,964		540		264		34		104		41		—		6,947
Other expenses from operations		—		—		435		—		48		—		—		—		483
Selling, general and administrative		19		128		362		43		13		29		35		24		653
Restructuring, net		—		—		—		—		—		1		—		—		1
Credit loss on related party note receivable		—		—		—		—		—		—		—		139		139
Loss on deconsolidation of subsidiary		—		—		—		—		—		—		—		246		246
Interest expense		132		67		3		9		—		1		—		214		426
		151		6,159		1,340		316		95		135		76		623		8,895
(Loss) before income tax (expense) benefit		(1,107)		918		(7)		16		13		(2)		(4)		(552)		(725)
Income tax (expense) benefit		—		(173)		5		(4)		—		—		—		90		(82)
Net (loss) income		(1,107)		745		(2)		12		13		(2)		(4)		(462)		(807)
Less: net (loss) income attributable to non-controlling interests		(555)		292		—		1		—		—		—		—		(262)
Net (loss) income attributable to Icahn Enterprises	$	(552)	$	453	$	(2)	$	11	$	13	$	(2)	$	(4)	$	(462)	$	(545)
Supplemental information:
Capital expenditures	$	—	$	150	$	38	$	9	$	2	$	2	$	—	$	—	$	201
Depreciation and amortization	$	—	$	269	$	58	$	20	$	10	$	5	$	21	$	1	$	384


	Nine Months Ended September 30, 2022
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
Revenues:
Net sales	$	—	$	8,216	$	1,293	$	322	$	48	$	173	$	46	$	—	$	10,098
Other revenues from operations		—		—		516		—		43		—		3		—		562
Net gain from investment activities		262		—		—		—		—		—		—		48		310
Interest and dividend income		163		4		—		—		—		—		—		13		180
Other (loss) income, net		(61)		(83)		4		(11)		—		1		1		(1)		(150)
		364		8,137		1,813		311		91		174		50		60		11,000
Expenses:
Cost of goods sold		—		7,407		858		263		31		144		35		—		8,738
Other expenses from operations		—		—		400		—		41		—		—		—		441
Selling, general and administrative		16		130		640		40		11		37		30		17		921
Interest expense		127		70		1		5		—		2		—		219		424
		143		7,607		1,899		308		83		183		65		236		10,524
Income (loss) before income tax benefit (expense)		221		530		(86)		3		8		(9)		(15)		(176)		476
Income tax (expense) benefit		—		(94)		22		(3)		—		(1)		—		(17)		(93)
Net income (loss)		221		436		(64)		—		8		(10)		(15)		(193)		383
Less: net income attributable to non-controlling interests		106		205		—		—		—		—		—		—		311
Net income (loss) attributable to Icahn Enterprises	$	115	$	231	$	(64)	$	—	$	8	$	(10)	$	(15)	$	(193)	$	72
Supplemental information:
Capital expenditures	$	—	$	145	$	87	$	13	$	7	$	2	$	—	$	—	$	254
Depreciation and amortization	$	—	$	264	$	60	$	20	$	9	$	5	$	21	$	1	$	380

Schedule of Condensed Financial Statements by Segment


	September 30, 2023
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
ASSETS
Cash and cash equivalents	$	21	$	889	$	100	$	11	$	35	$	4	$	17	$	1,813	$	2,890
Cash held at consolidated affiliated partnerships and restricted cash		3,026		7		9		—		6		3		—		171		3,222
Investments		3,185		101		—		—		14		—		—		—		3,300
Accounts receivable, net		—		316		46		79		18		31		27		—		517
Inventories, net		—		610		249		114		—		87		25		—		1,085
Related party notes receivable, net		—		—		—		—		—		—		—		59		59
Property, plant and equipment, net		—		2,611		799		132		337		53		—		5		3,937
Goodwill and intangible assets, net		—		184		344		23		—		19		205		—		775
Other assets		4,824		271		462		101		84		18		8		204		5,972
Total assets	$	11,056	$	4,989	$	2,009	$	460	$	494	$	215	$	282	$	2,252	$	21,757
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,240	$	1,753	$	870	$	139	$	49	$	47	$	55	$	100	$	4,253
Securities sold, not yet purchased, at fair value		3,801		—		—		—		—		—		—		—		3,801
Debt		—		1,590		24		142		1		10		—		5,308		7,075
Total liabilities		5,041		3,343		894		281		50		57		55		5,408		15,129

Equity attributable to Icahn Enterprises		3,634		873		1,115		162		440		158		227		(3,156)		3,453
Equity attributable to non-controlling interests		2,381		773		—		17		4		—		—		—		3,175
Total equity		6,015		1,646		1,115		179		444		158		227		(3,156)		6,628
Total liabilities and equity	$	11,056	$	4,989	$	2,009	$	460	$	494	$	215	$	282	$	2,252	$	21,757


	December 31, 2022
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
ASSETS
Cash and cash equivalents	$	19	$	510	$	32	$	9	$	26	$	5	$	16	$	1,720	$	2,337
Cash held at consolidated affiliated partnerships and restricted cash		2,455		7		10		—		8		3		—		66		2,549
Investments		6,719		76		—		—		14		—		—		—		6,809
Accounts receivable, net		—		358		99		87		12		24		26		—		606
Inventories, net		—		624		686		103		—		90		28		—		1,531
Property, plant and equipment, net		—		2,664		826		142		345		56		—		5		4,038
Goodwill and intangible assets, net		—		200		352		24		—		19		226		—		821
Other assets		8,041		296		527		110		102		16		6		125		9,223
Total assets	$	17,234	$	4,735	$	2,532	$	475	$	507	$	213	$	302	$	1,916	$	27,914
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,589	$	1,823	$	981	$	149	$	47	$	45	$	61	$	70	$	4,765
Securities sold, not yet purchased, at fair value		6,495		—		—		—		—		—		—		—		6,495
Debt		—		1,591		21		162		1		12		—		5,309		7,096
Total liabilities		8,084		3,414		1,002		311		48		57		61		5,379		18,356

Equity attributable to Icahn Enterprises		4,184		648		1,530		149		455		156		241		(3,463)		3,900
Equity attributable to non-controlling interests		4,966		673		—		15		4		—		—		—		5,658
Total equity		9,150		1,321		1,530		164		459		156		241		(3,463)		9,558
Total liabilities and equity	$	17,234	$	4,735	$	2,532	$	475	$	507	$	213	$	302	$	1,916	$	27,914

Energy Segment

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022

	(in millions)
Petroleum products	$	2,392	$	2,543	$	6,505	$	7,593
Nitrogen fertilizer products		130		156		540		623
	$	2,522	$	2,699	$	7,045	$	8,216

Automotive Segment

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022

	(in millions)
Automotive Services	$	406	$	410	$	1,167	$	1,156
Aftermarket Parts		24		202		116		618
	$	430	$	612	$	1,283	$	1,774

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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