XML 69 R51.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes

Schedule of difference between the book basis and the tax basis of our net asset

​

​	​	​	​	​	​	​
​	​	Icahn Enterprises
​	​	December 31,
​		2024			2023
​		​	(in millions)
Book basis of net assets	​	$	2,449	​	$	3,224
Book/tax basis difference	​		(366)	​		(540)
Tax basis of net assets	​	$	2,083	​	$	2,684

Schedule of income (loss) from continuing operations before income tax expense (benefit)

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2024			2023			2022
​	​	(in millions)
Domestic	​	$	(570)	​	$	(943)	​	$	(8)
International	​		3	​		21	​		17
​	​	$	(567)	​	$	(922)	​	$	9

Schedule of Income tax benefit (expense) attributable to continuing operations

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2024			2023			2022
​	​	(in millions)
Current:	​	​		​	​		​	​
Domestic	​	$	(20)	​	$	(130)	​	$	(174)
International	​		9	​		(8)	​		(8)
Total current	​		(11)	​		(138)	​		(182)
Deferred:	​			​			​
Domestic	​		43	​		41	​		149
International	​		(7)	​		7	​		(1)
Total deferred	​		36	​		48	​		148
​	​	$	25	​	$	(90)	​	$	(34)

Schedule of reconciliation of the income tax benefit (expense)

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2024			2023			2022
​	​	(in millions)
Income tax benefit at U.S. statutory rate	​	$	119	​	$	193	​	$	(2)
Tax effect from:	​			​			​
Valuation allowance	​		(68)	​		(1)	​		100
Non-controlling interest	​		8	​		23	​		38
Credits and incentives	​	​	19	​	​	26	​	​	—
Uncertain tax positions	​	​	5	​	​	17	​	​	—
Deconsolidation	​	​	—	​	​	23	​	​	—
Tax gain not on books	​	​	—	​	​	(83)	​	​	—
Dividends received	​		(4)	​		(20)	​		(23)
Income not subject to taxation	​		(91)	​		(239)	​		(88)
State taxes	​		32	​		(26)	​		(49)
Other	​		5	​		(3)	​		(10)
Income tax benefit (expense)	​	$	25	​	$	(90)	​	$	(34)

Schedule of deferred tax assets (liabilities)

​

​	​	​	​	​	​	​
​	​	December 31,
​		2024			2023
​	​	(in millions)
Deferred tax assets:		​		​	​
Contingent liabilities	​	$	56	​	$	61
Net operating loss	​		962	​		954
Tax credits	​		54	​		48
Capital loss	​		241	​		200
Leases	​		132	​		139
Investment in partnerships	​	​	135	​	​	147
Other	​		87	​		105
Total deferred tax assets	​		1,667	​		1,654
Less: Valuation allowance	​		(908)	​		(860)
Net deferred tax assets	​	$	759	​	$	794
​	​	​	​	​	​	​
Deferred tax liabilities:	​			​
Property, plant and equipment	​	$	(364)	​	$	(408)
Intangible assets	​		(60)	​		(65)
Investment in partnerships	​		(161)	​		(180)
Investment in U.S. subsidiaries	​		(163)	​		(163)
Leases	​		(129)	​		(135)
Other	​		(53)	​		(58)
Total deferred tax liabilities	​		(930)	​		(1,009)
​	​	$	(171)	​	$	(215)

Schedule of unrecognized tax benefits

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2024			2023			2022
​	​	(in millions)
Balance at January 1	​	$	10	​	$	27	​	$	33
Addition based on tax positions related to the current year	​		—	​		—	​		—
Increase for tax positions of prior years	​		—	​		—	​		—
Decrease for tax positions of prior years	​		—	​		—	​		—
Decrease for statute of limitation expiration	​		(1)	​		(17)	​		(6)
Balance at December 31	​	$	9	​	$	10	​	$	27

X

- Definition

Difference in book basis and tax basis of net assets not subject to income taxes [Table Text Block]

+ References

No definition available.

+ Details

Name:	iep_DifferenceInBookBasisAndTaxBasisOfNetAssetsNotSubjectToIncomeTaxesTableTextBlock
Namespace Prefix:	iep_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsExcludingAmountsPertainingToExaminedTaxReturnsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration