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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