XML 33 R56.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Basis of Presentation and Summary of Significant Accounting Policies Variable Interest Entities (Details)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2019
USD ($)
numberOfLeases
Sep. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Sep. 30, 2018
USD ($)
Jun. 30, 2018
USD ($)
Mar. 31, 2018
USD ($)
Dec. 31, 2019
USD ($)
numberOfLeases
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Jan. 01, 2019
USD ($)
Accounting Policies [Line Items]                        
Post-retirement benefit liability $ 73       $ 77       $ 73 $ 77    
Operating lease liability 647               647      
Finance Lease, Liability 93               93      
Cash and cash equivalents 3,794       2,656       3,794 2,656    
Cash held at consolidated affiliated partnerships and restricted cash 1,151       2,682       1,151 2,682    
Investments 9,945       8,337       9,945 8,337    
Due from brokers 858       664       858 664    
Inventories, net 1,812       1,779       1,812 1,779    
Property, plant and equipment, net 4,541       4,688       4,541 4,688    
Intangible assets, net 431       501       431 501    
Other assets 1,350       1,461       1,350 1,461    
Accounts payable, accrued expenses and other liabilities 4,315       2,715       4,315 2,715    
Securities sold, not yet purchased, at fair value 1,190       468       1,190 468    
Due to brokers 54       141       54 141    
Debt 8,192       7,326       8,192 7,326    
Fair value of long-term debt 7,700       7,300       7,700 7,300    
Portion of inventory under LIFO method 869       846       869 846    
Accumulated other comprehensive loss (89)       (85)       $ (89) (85)    
Affiliate ownership interest                 98.01%      
Total revenues 2,621 $ 2,320 $ 2,196 $ 1,855 2,802 $ 2,569 $ 3,423 $ 2,983 $ 8,992 11,777 $ 12,619  
Cost of goods sold                 8,212 9,002 8,220  
Total Expenses                 10,731 11,554 10,753  
Income (loss) before income tax benefit                 (1,739) 223 1,866  
Income tax (expense) benefit                 20 (14) (532)  
Income (loss) from continuing operations (149) (373) (573) (664) (206) (334) 410 367 (1,759) 237 2,398  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest                 (693) 475 101  
Continuing operations                 (1,066) (238) 2,297  
Net income (loss) attributable to Icahn Enterprises (157) $ (49) $ (498) $ (394) 930 $ 118 $ 302 $ 132 (1,098) 1,482 2,454  
Other expenses from operations                   2,552 2,533  
Other assets                        
Accounting Policies [Line Items]                        
Operating lease right-of-use asset 622       0       622 0    
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets         108         108    
Property, plant and equipment                        
Accounting Policies [Line Items]                        
Finance lease right-of-use asset 77       41       $ 77 41    
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets         (15)         (15)    
Deferred tax liability [Member]                        
Accounting Policies [Line Items]                        
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets         18         18    
Stockholders' Equity, Total [Member]                        
Accounting Policies [Line Items]                        
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets         75         75    
Equity attributable to Icahn Enterprises [Member]                        
Accounting Policies [Line Items]                        
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets         31         31    
Restatement Adjustment                        
Accounting Policies [Line Items]                        
Total revenues                   0 0  
Cost of goods sold                   55 (38)  
Total Expenses                   55 (38)  
Income (loss) before income tax benefit                   (55) 38  
Income tax (expense) benefit                   (10) (3)  
Income (loss) from continuing operations                   (45) 41  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest                   (20) 17  
Continuing operations                   (25) 24  
Net income (loss) attributable to Icahn Enterprises                   (25) 24  
Other expenses from operations                   0 0  
Previously Reported [Member]                        
Accounting Policies [Line Items]                        
Total revenues                   11,777 12,619  
Cost of goods sold                   8,947 8,258  
Total Expenses                   11,499 10,791  
Income (loss) before income tax benefit                   278 1,828  
Income tax (expense) benefit                   (4) (529)  
Income (loss) from continuing operations                   282 2,357  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest                   495 84  
Continuing operations                   (213) 2,273  
Net income (loss) attributable to Icahn Enterprises                   1,507 2,430  
Other expenses from operations                   2,552 2,533  
Icahn Enterprises G.P.                        
Accounting Policies [Line Items]                        
Aggregate general partner ownership interest of parent and operating subsidiary                 1.99%      
Cash held at consolidated affiliated partnerships [Member]                        
Accounting Policies [Line Items]                        
Cash held at consolidated affiliated partnerships and restricted cash 86       2,648       $ 86 2,648    
Restricted cash                        
Accounting Policies [Line Items]                        
Cash held at consolidated affiliated partnerships and restricted cash 1,065       34       1,065 34    
Real Estate Segment                        
Accounting Policies [Line Items]                        
Cash and cash equivalents 53       39       53 39    
Cash held at consolidated affiliated partnerships and restricted cash 2       26       2 26    
Investments 15       15       15 15    
Inventories, net 0       0       0 0    
Property, plant and equipment, net 386       367       386 367    
Accounts payable, accrued expenses and other liabilities 38       41       38 41    
Securities sold, not yet purchased, at fair value 0       0       0 0    
Debt 2       2       2 2    
Total revenues                 103 212 628  
Cost of goods sold                 18 18 11  
Total Expenses                 93 95 79  
Income (loss) before income tax benefit                 10 117 549  
Income tax (expense) benefit                 (6) 5 0  
Income (loss) from continuing operations                 16 112 549  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest                 0 0 0  
Continuing operations                 $ 16 112 549  
Real Estate Segment | Minimum                        
Accounting Policies [Line Items]                        
Description of Lessor Leasing Arrangements, Operating Leases                 5 years      
Real Estate Segment | Maximum                        
Accounting Policies [Line Items]                        
Description of Lessor Leasing Arrangements, Operating Leases                 39 years      
Food Packaging Segment                        
Accounting Policies [Line Items]                        
Operating lease right-of-use asset                       $ 35
Operating lease liability                       39
Cash and cash equivalents 22       46       $ 22 46    
Cash held at consolidated affiliated partnerships and restricted cash 1       1       1 1    
Investments 0       0       0 0    
Inventories, net 100       93       100 93    
Property, plant and equipment, net 161       169       161 169    
Accounts payable, accrued expenses and other liabilities 196       164       196 164    
Securities sold, not yet purchased, at fair value 0       0       0 0    
Debt 268       273       268 273    
Total revenues                 375 379 389  
Cost of goods sold                 309 316 297  
Total Expenses                 391 398 374  
Income (loss) before income tax benefit                 (16) (19) 15  
Income tax (expense) benefit                 6 (4) 21  
Income (loss) from continuing operations                 (22) (15) (6)  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest                 (5) (3) (1)  
Continuing operations                 (17) (12) (5)  
Food Packaging Segment | Other assets                        
Accounting Policies [Line Items]                        
Operating lease right-of-use asset 34               34      
Other Segments and Holding Company                        
Accounting Policies [Line Items]                        
Operating lease right-of-use asset                       34
Operating lease liability                       28
Investments 738       1,470       738 1,470    
Other Segments and Holding Company | Other assets                        
Accounting Policies [Line Items]                        
Operating lease right-of-use asset 39               39      
Energy Segment                        
Accounting Policies [Line Items]                        
Deferred revenue 28       69       28 69    
Revenue recognition during period of previously deferred revenue                 68 34    
Finance lease right-of-use asset                       26
Operating lease right-of-use asset                       56
Operating lease liability                       56
Finance Lease, Liability                       23
Cash and cash equivalents 652       668       652 668    
Cash held at consolidated affiliated partnerships and restricted cash 0       0       0 0    
Investments 81       84       81 84    
Inventories, net 390       380       390 380    
Property, plant and equipment, net 2,888       3,027       2,888 3,027    
Accounts payable, accrued expenses and other liabilities 1,180       1,043       1,180 1,043    
Securities sold, not yet purchased, at fair value 0       0       0 0    
Debt 1,195       1,170       1,195 1,170    
Remaining performance obligation expected to be recognized as revenue within one year 4               4      
Remaining performance obligation for contracts with an original expected duration of more than one year 9               9      
Total revenues                 6,385 7,135 5,988  
Cost of goods sold                 5,707 6,508 5,761  
Total Expenses                 5,959 6,755 6,013  
Income (loss) before income tax benefit                 426 380 (25)  
Income tax (expense) benefit                 112 46 (341)  
Income (loss) from continuing operations                 314 334 316  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest                 68 121 63  
Continuing operations                 246 213 253  
Energy Segment | Other assets                        
Accounting Policies [Line Items]                        
Operating lease right-of-use asset 48               48      
Automotive Segment                        
Accounting Policies [Line Items]                        
Deferred revenue $ 42       42       42 42    
Revenue recognition during period of previously deferred revenue                 $ 21 18    
Number of leases | numberOfLeases 2,300               2,300      
Finance lease right-of-use asset                       20
Operating lease right-of-use asset                       589
Operating lease liability                       621
Finance Lease, Liability                       $ 22
Cash and cash equivalents $ 46       43       $ 46 43    
Cash held at consolidated affiliated partnerships and restricted cash 0       0       0 0    
Investments 120       59       120 59    
Inventories, net 1,215       1,203       1,215 1,203    
Property, plant and equipment, net 916       941       916 941    
Accounts payable, accrued expenses and other liabilities 1,340       905       1,340 905    
Securities sold, not yet purchased, at fair value 0       0       0 0    
Debt 405       372       405 372    
Deferred revenue expected to be earned within one year 21               21      
Total revenues                 2,895 2,856 2,728  
Cost of goods sold                 1,625 1,502 1,540  
Total Expenses                 3,147 3,138 2,925  
Income (loss) before income tax benefit                 (252) (282) (197)  
Income tax (expense) benefit                 (55) (52) (146)  
Income (loss) from continuing operations                 (197) (230) (51)  
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest                 0 0 0  
Continuing operations                 (197) (230) (51)  
Automotive Segment | Other assets                        
Accounting Policies [Line Items]                        
Operating lease right-of-use asset 501               $ 501      
Icahn Enterprises Holdings                        
Accounting Policies [Line Items]                        
Percentage of equity ownership in operating subsidiary                 99.00%      
Percentage of equity ownership in subsidiary                 99.00%      
Cash and cash equivalents 3,794       2,656       $ 3,794 2,656    
Cash held at consolidated affiliated partnerships and restricted cash 1,151       2,682       1,151 2,682    
Investments 9,945       8,337       9,945 8,337    
Due from brokers 858       664       858 664    
Inventories, net 1,812       1,779       1,812 1,779    
Property, plant and equipment, net 4,541       4,688       4,541 4,688    
Intangible assets, net 431       501       431 501    
Other assets 1,350       1,493       1,350 1,493    
Securities sold, not yet purchased, at fair value 1,190       468       1,190 468    
Due to brokers 54       141       54 141    
Debt 8,195       7,330       8,195 7,330    
Total revenues                 8,992 11,777 12,619  
Cost of goods sold                 8,212 9,002 8,220  
Total Expenses                 10,730 11,553 10,751  
Income (loss) before income tax benefit                 (1,738) 224 1,868  
Income tax (expense) benefit                 20 (14) (532)  
Income (loss) from continuing operations                 (1,758) 238 2,400  
Continuing operations                 (1,065) (237) 2,299  
Net income (loss) attributable to Icahn Enterprises                 (1,097) 1,483 $ 2,456  
Icahn Enterprises Holdings | Variable Interest Entity, Primary Beneficiary                        
Accounting Policies [Line Items]                        
Cash and cash equivalents 42       420       42 420    
Cash held at consolidated affiliated partnerships and restricted cash 989       2,648       989 2,648    
Investments 9,207       6,951       9,207 6,951    
Due from brokers 858       664       858 664    
Inventories, net 54       380       54 380    
Property, plant and equipment, net 1,123       3,023       1,123 3,023    
Intangible assets, net 258       278       258 278    
Other assets 260       932       260 932    
Accounts payable, accrued expenses and other liabilities 1,338       523       1,338 523    
Securities sold, not yet purchased, at fair value 1,190       468       1,190 468    
Due to brokers 54       141       54 141    
Debt $ 633       $ 1,171       $ 633 $ 1,171    
Viskase                        
Accounting Policies [Line Items]                        
Subsidiary ownership interest in variable interest entity                 50.00%      
Viskase | Food Packaging Segment                        
Accounting Policies [Line Items]                        
Percentage of equity ownership in operating subsidiary                 78.60% 74.60%    
Percentage of equity ownership in subsidiary                 78.60% 74.60%