Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Data (Unaudited) [Abstract]

Quarterly Financial Data (Unaudited).

Unaudited quarterly financial data for Icahn Enterprises is presented below:


	For the Three Months Ended
	March 31,						June 30,						September 30,				December 31,
	2019		2018		2019		2018		2019		2018		2019		2018
	(in millions, except per unit data)
Net sales	$	2,300	$	2,364	$	2,588	$	2,819	$	2,484	$	2,815	$	2,349	$	2,578
Gross margin on net sales	400		377		459		392		415		443		235		362
Total revenues	1,855		2,983		2,196		3,423		2,320		2,569		2,621		2,802
Income (loss) from continuing operations	(664)		367		(573)		410		(373)		(334)		(149)		(206)
Income (loss) from discontinued operations	—		45		(24)		167		—		176		(8)		1,376
Net income (loss)	(664)		412		(597)		577		(373)		(158)		(157)		1,170
Net loss (income) attributable to non-controlling interests	(270)		280		(99)		275		(324)		(276)		—		240
Net income (loss) attributable to Icahn Enterprises	$	(394)	$	132	$	(498)	$	302	$	(49)	$	118	$	(157)	$	930

Basic income (loss) per LP unit:
Continuing operations	$	(2.02)	$	0.55	$	(2.37)	$	0.81	$	(0.24)	$	(0.24)	$	(0.70)	$	(2.30)
Discontinued operations	0.00		0.19		(0.12)		0.85		0.00		0.88		(0.04)		10.31
	$	(2.02)	$	0.74	$	(2.49)	$	1.66	$	(0.24)	$	0.64	$	(0.74)	$	8.01
Diluted income (loss) per LP unit:
Continuing operations	$	(2.02)	$	0.55	$	(2.37)	$	0.81	$	(0.24)	$	(0.24)	$	(0.70)	$	(2.30)
Discontinued operations	0.00		0.19		(0.12)		0.85		0.00		0.88		(0.04)		10.31
	$	(2.02)	$	0.74	$	(2.49)	$	1.66	$	(0.24)	$	0.64	$	(0.74)	$	8.01

The comparability of our unaudited quarterly financial data is affected by, among other things, (i) the performance of the Investment Funds, (ii) our Holding Company’s realized and unrealized equity investment gains and losses, (iii) the results of our Energy segment’s operations, impacted by the relationship of its refined product prices and prices for crude oil and other feedstocks and (iv) gains on dispositions of assets, primarily in our Mining segment in the third quarter of 2019. In addition, in connection with our sales of Federal-Mogul, Tropicana and ARI, we recorded aggregate pre-tax gains on the sales of discontinued operations of approximately $1.4 billion in the fourth quarter of 2018.