XML 52 R42.htm IDEA: XBRL DOCUMENT

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

Disaggregation of Revenue [Line Items]

Schedule of Condensed Income Statement by Segment

Condensed Statements of Operations


	Three Months Ended June 30, 2024
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
Revenues:
Net sales	$	—	$	1,966	$	212	$	105	$	10	$	44	$	25	$	—	$	2,362
Other revenues from operations		—		—		171		—		19		—		1		—		191
Net loss from investment activities		(479)		—		—		—		—		—		—		—		(479)
Interest and dividend income		87		7		1		—		—		—		1		26		122
Gain on disposition of assets, net		—		—		1		—		—		—		—		—		1
Other income, net		—		4		—		—		—		—		—		—		4
		(392)		1,977		385		105		29		44		27		26		2,201
Expenses:
Cost of goods sold		—		1,922		142		86		7		33		14		—		2,204
Other expenses from operations		—		—		136		—		18		—		—		—		154
Dividend expense		13		—		—		—		—		—		—		—		13
Selling, general and administrative		6		35		99		11		4		11		10		7		183
Restructuring, net		—		—		—		1		—		—		—		—		1
Interest expense		19		26		1		3		—		—		—		79		128
		38		1,983		378		101		29		44		24		86		2,683
(Loss) income before income tax (expense) benefit		(430)		(6)		7		4		—		—		3		(60)		(482)
Income tax benefit (expense)		—		31		—		(2)		—		—		—		(33)		(4)
Net (loss) income		(430)		25		7		2		—		—		3		(93)		(486)
Less: net (loss) income attributable to non-controlling interests		(173)		17		—		1		—		—		—		—		(155)
Net (loss) income attributable to Icahn Enterprises	$	(257)	$	8	$	7	$	1	$	—	$	—	$	3	$	(93)	$	(331)
Supplemental information:
Capital expenditures	$	—	$	43	$	12	$	3	$	7	$	1	$	—	$	—	$	66
Depreciation and amortization	$	—	$	90	$	18	$	7	$	4	$	1	$	7	$	—	$	127


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

	(in millions)
Revenues:
Net sales	$	—	$	2,237	$	248	$	117	$	13	$	46	$	23	$	—	$	2,684
Other revenues from operations		—		—		177		—		20		—		1		—		198
Net loss from investment activities		(500)		—		—		—		—		—		—		—		(500)
Interest and dividend income		134		8		—		—		—		—		—		25		167
Gain on disposition of assets, net		—		—		3		—		—		—		—		—		3
Other income, net		1		3		—		1		1		—		1		—		7
		(365)		2,248		428		118		34		46		25		25		2,559
Expenses:
Cost of goods sold		—		1,990		173		90		8		35		14		—		2,310
Other expenses from operations		—		—		142		—		18		—		—		—		160
Dividend expense		19		—		—		—		—		—		—		—		19
Selling, general and administrative		13		39		114		15		5		10		11		8		215
Credit loss on related party note receivable		—		—		—		—		—		—		—		116		116
Loss on deconsolidation of subsidiary		—		—		—		—		—		—		—		20		20
Interest expense		38		22		1		3		—		—		—		72		136
		70		2,051		430		108		31		45		25		216		2,976
(Loss) income before income tax (expense) benefit		(435)		197		(2)		10		3		1		—		(191)		(417)
Income tax (expense) benefit		—		(41)		6		(5)		—		—		—		38		(2)
Net (loss) income		(435)		156		4		5		3		1		—		(153)		(419)
Less: net (loss) income attributable to non-controlling interests		(220)		70		—		—		—		—		—		—		(150)
Net (loss) income attributable to Icahn Enterprises	$	(215)	$	86	$	4	$	5	$	3	$	1	$	—	$	(153)	$	(269)
Supplemental information:
Capital expenditures	$	—	$	56	$	11	$	5	$	—	$	1	$	—	$	—	$	73
Depreciation and amortization	$	—	$	89	$	22	$	7	$	3	$	1	$	7	$	—	$	129


	Six Months Ended June 30, 2024
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
Revenues:
Net sales	$	—	$	3,829	$	431	$	206	$	11	$	80	$	49	$	—	$	4,606
Other revenues from operations		—		—		336		—		36		—		2		—		374
Net loss from investment activities		(575)		—		—		—		—		—		—		—		(575)
Interest and dividend income		192		20		2		—		—		—		1		50		265
Loss on disposition of assets, net		—		(1)		(4)		—		—		—		—		—		(5)
Other income (loss), net		—		8		—		(2)		—		—		—		—		6
		(383)		3,856		765		204		47		80		52		50		4,671
Expenses:
Cost of goods sold		—		3,635		294		166		8		60		28		—		4,191
Other expenses from operations		—		—		275		—		32		—		—		—		307
Dividend expense		33		—		—		—		—		—		—		—		33
Selling, general and administrative		10		77		201		24		9		21		20		14		376
Restructuring, net		—		—		—		1		—		—		—		—		1
Interest expense		44		59		1		6		—		—		—		154		264
		87		3,771		771		197		49		81		48		168		5,172
(Loss) income before income tax (expense) benefit		(470)		85		(6)		7		(2)		(1)		4		(118)		(501)
Income tax benefit (expense)		—		18		4		(3)		—		—		—		(30)		(11)
Net (loss) income		(470)		103		(2)		4		(2)		(1)		4		(148)		(512)
Less: net (loss) income attributable to non-controlling interests		(190)		46		—		1		—		—		—		—		(143)
Net (loss) income attributable to Icahn Enterprises	$	(280)	$	57	$	(2)	$	3	$	(2)	$	(1)	$	4	$	(148)	$	(369)
Supplemental information:
Capital expenditures	$	—	$	90	$	28	$	5	$	9	$	2	$	—	$	—	$	134
Depreciation and amortization	$	—	$	182	$	37	$	13	$	7	$	3	$	14	$	—	$	256


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

	(in millions)
Revenues:
Net sales	$	—	$	4,523	$	535	$	235	$	20	$	86	$	43	$	—	$	5,442
Other revenues from operations		—		—		347		—		36		—		2		—		385
Net loss from investment activities		(943)		—		—		—		—		—		—		—		(943)
Interest and dividend income		278		13		—		—		—		—		—		47		338
Gain on disposition of assets, net		—		—		3		—		—		—		—		—		3
Other income (loss), net		1		6		—		(6)		1		—		1		—		3
		(664)		4,542		885		229		57		86		46		47		5,228
Expenses:
Cost of goods sold		—		3,916		366		181		14		67		26		—		4,570
Other expenses from operations		—		—		287		—		31		—		—		—		318
Dividend expense		47		—		—		—		—		—		—		—		47
Selling, general and administrative		16		85		246		29		9		20		24		15		444
Credit loss on related party note receivable		—		—		—		—		—		—		—		116		116
Loss on deconsolidation of subsidiary		—		—		—		—		—		—		—		246		246
Interest expense		83		45		1		6		—		—		—		143		278
		146		4,046		900		216		54		87		50		520		6,019
(Loss) income before income tax (expense) benefit		(810)		496		(15)		13		3		(1)		(4)		(473)		(791)
Income tax (expense) benefit		—		(93)		6		(1)		—		—		—		102		14
Net (loss) income		(810)		403		(9)		12		3		(1)		(4)		(371)		(777)
Less: net (loss) income attributable to non-controlling interests		(424)		185		—		1		—		—		—		—		(238)
Net (loss) income attributable to Icahn Enterprises	$	(386)	$	218	$	(9)	$	11	$	3	$	(1)	$	(4)	$	(371)	$	(539)
Supplemental information:
Capital expenditures	$	—	$	100	$	21	$	7	$	2	$	1	$	—	$	—	$	131
Depreciation and amortization	$	—	$	173	$	41	$	14	$	6	$	3	$	14	$	—	$	251

Schedule of Condensed Financial Statements by Segment


	June 30, 2024
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
ASSETS
Cash and cash equivalents	$	8	$	586	$	89	$	5	$	26	$	4	$	30	$	1,470	$	2,218
Cash held at consolidated affiliated partnerships and restricted cash		3,256		—		7		—		3		3		—		173		3,442
Investments		2,196		96		—		—		14		—		—		—		2,306
Accounts receivable, net		—		298		34		87		17		28		30		—		494
Inventories, net		—		543		198		115		—		92		22		—		970
Related party notes receivable, net		—		—		—		—		—		—		—		7		7
Property, plant and equipment, net		—		2,542		817		126		367		53		—		4		3,909
Goodwill and intangible assets, net		—		169		331		22		—		19		184		—		725
Other assets		2,762		288		488		94		67		18		6		194		3,917
Total assets	$	8,222	$	4,522	$	1,964	$	449	$	494	$	217	$	272	$	1,848	$	17,988
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,225	$	1,438	$	816	$	126	$	54	$	43	$	55	$	92	$	3,849
Securities sold, not yet purchased, at fair value		2,128		—		—		—		—		—		—		—		2,128
Debt		—		1,584		27		139		1		14		—		4,860		6,625
Total liabilities		3,353		3,022		843		265		55		57		55		4,952		12,602

Equity attributable to Icahn Enterprises		2,946		785		1,121		168		434		160		217		(3,104)		2,727
Equity attributable to non-controlling interests		1,923		715		—		16		5		—		—		—		2,659
Total equity		4,869		1,500		1,121		184		439		160		217		(3,104)		5,386
Total liabilities and equity	$	8,222	$	4,522	$	1,964	$	449	$	494	$	217	$	272	$	1,848	$	17,988


	December 31, 2023
	Investment		Energy		Automotive		Food Packaging		Real Estate		Home Fashion		Pharma		Holding Company		Consolidated

	(in millions)
ASSETS
Cash and cash equivalents	$	23	$	1,179	$	104	$	8	$	22	$	5	$	26	$	1,584	$	2,951
Cash held at consolidated affiliated partnerships and restricted cash		2,799		7		9		—		4		3		—		173		2,995
Investments		2,898		100		—		—		14		—		—		—		3,012
Accounts receivable, net		—		286		41		89		16		26		27		—		485
Related party note receivable, net		—		—		—		—		—		—		—		11		11
Inventories, net		—		604		228		111		—		81		23		—		1,047
Property, plant and equipment, net		—		2,594		822		134		363		52		—		4		3,969
Goodwill and intangible assets, net		—		179		335		23		—		19		198		—		754
Other assets		4,425		310		480		101		69		17		8		224		5,634
Total assets	$	10,145	$	5,259	$	2,019	$	466	$	488	$	203	$	282	$	1,996	$	20,858
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	$	1,312	$	1,553	$	890	$	148	$	43	$	42	$	55	$	62	$	4,105
Securities sold, not yet purchased, at fair value		3,473		—		—		—		—		—		—		—		3,473
Debt		—		2,185		33		133		1		8		—		4,847		7,207
Total liabilities		4,785		3,738		923		281		44		50		55		4,909		14,785

Equity attributable to Icahn Enterprises		3,243		795		1,096		168		439		153		227		(2,913)		3,208
Equity attributable to non-controlling interests		2,117		726		—		17		5		—		—		—		2,865
Total equity		5,360		1,521		1,096		185		444		153		227		(2,913)		6,073
Total liabilities and equity	$	10,145	$	5,259	$	2,019	$	466	$	488	$	203	$	282	$	1,996	$	20,858

Energy

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023

	(in millions)
Petroleum products	$	1,833	$	2,054		3,568	$	4,114
Nitrogen fertilizer products		133		183		261		409
	$	1,966	$	2,237	$	3,829	$	4,523

Automotive Segment

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023

	(in millions)
Automotive Services	$	363	$	392	$	719	$	761
Aftermarket Parts		5		20		18		92
Total revenue from customers	$	368	$	412		737		853
Lease revenue outside the scope of ASC 606		15		13		30		29
Total Automotive net sales and other revenues from operations	$	383	$	425	$	767	$	882

- 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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