Schedule I (Tables) - Icahn Enterprises (Parent)

12 Months Ended

Dec. 31, 2025

Condensed Financial Statements, Captions [Line Items]

Financial statement schedule, parent company balance sheet

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED BALANCE SHEETS

	December 31,
	2025		2024
	(in millions, except unit amounts)
ASSETS
Investments in subsidiaries, net	$	6,676	$	7,232
Total Assets	$	6,676	$	7,232
LIABILITIES AND EQUITY
Accrued expenses and other liabilities	$	70	$	67
Debt		4,664		4,699
		4,734		4,766
Commitments and contingencies (Note 3)
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)
Total equity		1,942		2,466
Total Liabilities and Equity	$	6,676	$	7,232

Financial statement schedule, parent company statement of operations

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED STATEMENTS OF OPERATIONS

	Year Ended December 31,
	2025		2024		2023
	(in millions)
Interest expense	$	(340)	$	(317)	$	(286)
Gain (loss) on extinguishment of debt		4		8		13
Equity in gain (loss) of subsidiaries		37		(136)		(411)
Net loss	$	(299)	$	(445)	$	(684)
Net loss allocated to:
Limited partners	$	(293)	$	(436)	$	(670)
General partner		(6)		(9)		(14)
	$	(299)	$	(445)	$	(684)

Financial statement schedule, parent company statement of cash flows

ICAHN ENTERPRISES, L.P.

(Parent Company)

CONDENSED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2025		2024		2023
	(in millions)
Cash flows from operating activities:
Net loss	$	(299)	$	(445)	$	(684)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity in (gain) loss of subsidiary		(37)		136		411
Gain on extinguishment of debt		(4)		(8)		(13)
Other, net		6		30		(3)
Net cash used in operating activities		(334)		(287)		(289)
Cash flows from investing activities:
Net investment in and advances from subsidiaries		571		320		629
Net cash provided by (used in) by investing activities		571		320		629
Cash flows from financing activities:
Partnership distributions		(288)		(391)		(307)
Partnership contributions		85		104		185
Proceeds from borrowings		495		1,266		699
Repayments of borrowings		(529)		(1,397)		(1,159)
Investment segment distributions		—		394		242
Debt issuance costs and other		—		(9)		—
Net cash provided by (used in) financing activities		(237)		(33)		(340)
Net change in cash and cash equivalents and restricted cash and restricted cash equivalents		—		—		—
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period		—		—		—
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period	$	—	$	—	$	—

Financial statement schedule, parent company debt note

	December 31,
	2025		2024
	(in millions)
6.250% senior notes due 2026		240		719
5.250% senior notes due 2027		1,383		1,384
4.375% senior notes due 2029		657		656
9.750% senior notes due 2029		699		698
10.000% senior notes due 2029		988		495
9.000% senior notes due 2030		697		747
Total debt	$	4,664	$	4,699