Investments (Tables)

12 Months Ended

Dec. 31, 2019

Investment Segment

Investment [Line Items]

Investment

	December 31,
	2019		2018
Assets	(in millions)
Investments:
Equity securities:
Basic materials	$	281	$	414
Consumer, non-cyclical	2,085		2,161
Consumer, cyclical	2,427		1,161
Energy	1,717		1,598
Financial	—		167
Technology	2,425		1,040
Other	127		145
	9,062		6,686
Corporate debt securities	145		181
	$	9,207	$	6,867
Liabilities
Securities sold, not yet purchased, at fair value:
Equity securities:
Basic materials	$	209	$	—
Consumer, non-cyclical	29		57
Consumer, cyclical	379		106
Energy	124		305
Financial	152		—
Technology	217		—
Other	80		—
	$	1,190	$	468

Equity Method Investments

	Voting Interests(1)	Fair Value of Investment				Gains (Losses) Recognized in Income
	December 31, 2019	December 31,				Year Ended December 31,
		2019		2018		2019		2018		2017
		(in millions)
Herbalife Nutrition Ltd.	19.1%	$	1,343	$	1,661	$	(318)	$	864	$	357
Hertz Global Holdings, Inc.	24.6%	551		320		105		(197)		13
Caesars Entertainment Corporation	13.4%	1,243		—		478		—		—
		$	3,137	$	1,981	$	265	$	667	$	370

(1) Voting interest represents our share of the voting common stock currently held as of December 31, 2019; however, voting common stock held by Mr. Icahn and his affiliates (excluding us) are not included.

Summarized Financial Information of Equity Method Investments

Herbalife Nutrition Ltd.

	December 31,
	2019		2018
	(in millions)
Total assets	$	2,679	$	2,790
Total liabilities	3,069		3,513
Equity (deficit)	(390)		(723)

	Year Ended December 31,
	2019		2018		2017
	(in millions)
Revenue	$	4,877	$	4,892	$	4,428
Net income attributable to shareholders	311		297		214

Hertz Global Holdings, Inc.

	December 31,
	2019		2018
	(in millions)
Total assets	$	24,627	$	21,382
Total liabilities	22,739		20,262
Equity	1,888		1,120

	Year Ended December 31,
	2019		2018		2017
	(in millions)
Revenue	$	9,779	$	9,504	$	8,803
Net income attributable to shareholders	(58)		(225)		327

Other Segments and Holding Company

Investment [Line Items]

Investment

	December 31,
	2019		2018
	(in millions)
Equity method investments	$	201	$	143
Other investments (measured at fair value)	537		1,327
	$	738	$	1,470