CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	$ 1,450	$ 2,603
Cash held at consolidated affiliated partnerships and restricted cash	1,969	2,636
Investments	2,251	2,310
Due from brokers	1,656	1,624
Accounts receivable, net	393	479
Related party notes receivable, net	129	7
Inventories	845	897
Property, plant and equipment, net	3,670	3,843
Deferred tax asset	165	160
Derivative assets, net	7	22
Goodwill	290	288
Intangible assets, net	349	409
Assets held for sale		25
Other assets	1,041	976
Total Assets	14,215	16,279
LIABILITIES AND EQUITY
Accounts payable	690	802
Accrued expenses and other liabilities	1,192	1,547
Deferred tax liabilities	314	331
Derivative liabilities, net	595	756
Securities sold, not yet purchased, at fair value	1,382	1,373
Due to brokers		40
Debt	6,616	6,809
Total liabilities	10,789	11,658
Commitments and contingencies (Note 19)
Equity:
Limited partners: Depositary units: 637,209,452 units issued and outstanding at December 31, 2025 and 522,736,315 units issued and outstanding at December 31, 2024	2,728	3,241
General partner	(786)	(775)
Equity attributable to Icahn Enterprises	1,942	2,466
Equity attributable to non-controlling interests	1,484	2,155
Total equity	3,426	4,621
Total Liabilities and Equity	$ 14,215	$ 16,279