Icahn Enterprises (IEP) 10-Q8 May 202020 Q1 Quarterly reportFinancial data

Company Profile

Cover Cover

Cover Cover - shares	3 Months Ended
Cover Cover - shares	Mar. 31, 2020	May 07, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Transition Report	false
Entity Central Index Key	0000813762
Entity File Number	1-9516
Entity Registrant Name	ICAHN ENTERPRISES L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3398766
Entity Address, Address Line One	16690 Collins Avenue,
Entity Address, Address Line Two	Penthouse Suite
Entity Address, City or Town	Sunny Isles Beach,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33160
City Area Code	305
Local Phone Number	422-4000
Title of 12(b) Security	Depositary Units of Icahn Enterprises L.P. Representing Limited Partner Interests
Trading Symbol	IEP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		214,309,142
Icahn Enterprises Holdings
Document Information [Line Items]
Entity Central Index Key	0001034563
Entity File Number	333-118021-01
Entity Registrant Name	ICAHN ENTERPRISES HOLDINGS L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3398767
Entity Address, Address Line One	16690 Collins Avenue,
Entity Address, Address Line Two	Penthouse Suite
Entity Address, City or Town	Sunny Isles Beach,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33160
City Area Code	305
Local Phone Number	422-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 2,381	$ 3,794
Cash held at consolidated affiliated partnerships and restricted cash	876	1,151
Investments	8,197	9,945
Due from brokers	1,432	858
Accounts receivable, net	472	483
Inventories, net	1,583	1,795
Property, plant and equipment, net	4,416	4,454
Unrealized gain on derivative contracts	2,866	182
Goodwill	281	282
Intangible assets, net	420	431
Other assets	1,382	1,264
Total Assets	24,306	24,639
LIABILITIES AND EQUITY
Accounts payable	830	945
Accrued expenses and other liabilities	1,821	1,453
Deferred tax liability	533	639
Unrealized loss on derivative contracts	81	1,224
Securities sold, not yet purchased, at fair value	459	1,190
Due to brokers	2,938	54
Debt	8,227	8,192
Total liabilities	14,889	13,697
Commitments and contingencies (Note 16)
Equity:
Limited partners: Depositary units: 214,185,689 units issued and outstanding at March 31, 2020 and 214,078,558 units issued and outstanding at December 31, 2019	4,484	6,268
General partner	(849)	(812)
Equity attributable to Icahn Enterprises	3,635	5,456
Equity attributable to non-controlling interests	5,782	5,486
Total equity	9,417	10,942
Total Liabilities and Equity	24,306	24,639
Icahn Enterprises Holdings
ASSETS
Cash and cash equivalents	2,381	3,794
Cash held at consolidated affiliated partnerships and restricted cash	876	1,151
Investments	8,197	9,945
Due from brokers	1,432	858
Accounts receivable, net	472	483
Inventories, net	1,583	1,795
Property, plant and equipment, net	4,416	4,454
Unrealized gain on derivative contracts	2,866	182
Goodwill	281	282
Intangible assets, net	420	431
Other assets	1,382	1,264
Total Assets	24,306	24,639
LIABILITIES AND EQUITY
Accounts payable	830	945
Accrued expenses and other liabilities	1,821	1,453
Deferred tax liability	533	639
Unrealized loss on derivative contracts	81	1,224
Securities sold, not yet purchased, at fair value	459	1,190
Due to brokers	2,938	54
Debt	8,230	8,195
Total liabilities	14,892	13,700
Commitments and contingencies (Note 16)
Equity:
Limited partners: Depositary units: 214,185,689 units issued and outstanding at March 31, 2020 and 214,078,558 units issued and outstanding at December 31, 2019	4,525	6,328
General partner	(893)	(875)
Equity attributable to Icahn Enterprises	3,632	5,453
Equity attributable to non-controlling interests	5,782	5,486
Total equity	9,414	10,939
Total Liabilities and Equity	$ 24,306	$ 24,639

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - shares	Mar. 31, 2020	Dec. 31, 2019
Equity:
Limited partners: Depositary units issued	214,185,689	214,078,558
Limited partners: Depositary units outstanding	214,185,689	214,078,558

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Net sales	$ 1,860	$ 2,300
Other revenues from operations	161	162
Net (loss) gain from investment activities	(2,128)	(674)
Interest and dividend income	64	64
Other (loss) income, net	(17)	3
Total Revenues	(60)	1,855
Expenses:
Cost of goods sold	1,810	1,900
Other expenses from operations	135	131
Selling, general and administrative	308	336
Restructuring, net	2	7
Interest expense	171	139
Total Expenses	2,426	2,513
Loss before income tax benefit (expense)	(2,486)	(658)
Income tax benefit (expense)	180	(6)
Net loss	(2,306)	(664)
Less: net loss attributable to non-controlling interests	(922)	(270)
Net loss attributable to Icahn Enterprises	(1,384)	(394)
Net (loss) income attributable to Icahn Enterprises allocated to:
Continuing operations	(1,384)	(394)
Limited partners	(1,356)	(386)
General partner	(28)	(8)
Net loss attributable to Icahn Enterprises	$ (1,384)	$ (394)
Basic income (loss) per LP unit
Basic income (loss) per LP unit	$ (6.34)	$ (2.02)
Basic weighted average LP units outstanding	214	191
Cash distributions declared per LP unit	$ 2	$ 2
Icahn Enterprises Holdings
Revenues:
Net sales	$ 1,860	$ 2,300
Other revenues from operations	161	162
Net (loss) gain from investment activities	(2,128)	(674)
Interest and dividend income	64	64
Other (loss) income, net	(17)	3
Total Revenues	(60)	1,855
Expenses:
Cost of goods sold	1,810	1,900
Other expenses from operations	135	131
Selling, general and administrative	308	336
Restructuring, net	2	7
Interest expense	171	139
Total Expenses	2,426	2,513
Loss before income tax benefit (expense)	(2,486)	(658)
Income tax benefit (expense)	180	(6)
Net loss	(2,306)	(664)
Less: net loss attributable to non-controlling interests	(922)	(270)
Net loss attributable to Icahn Enterprises	(1,384)	(394)
Net (loss) income attributable to Icahn Enterprises allocated to:
Limited partners	(1,370)	(390)
General partner	(14)	(4)
Net loss attributable to Icahn Enterprises	$ (1,384)	$ (394)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net (loss) income	$ (2,306)	$ (664)
Other comprehensive income (loss), net of tax:
Translation adjustments	(3)	(1)
Post-retirement benefits and other	0	1
Other comprehensive loss, net of tax	(3)
Comprehensive (loss) income	(2,309)	(664)
Less: Comprehensive (loss) income attributable to non-controlling interests	(922)	(270)
Comprehensive (loss) income attributable to Icahn Enterprises	(1,387)	(394)
Limited partners
Net (loss) income	(1,356)	(386)
Other comprehensive income (loss), net of tax:
Other comprehensive loss, net of tax	(3)
Comprehensive (loss) income attributable to Icahn Enterprises	(1,359)	(386)
General partner
Net (loss) income	(28)	(8)
Other comprehensive income (loss), net of tax:
Other comprehensive loss, net of tax	0
Comprehensive (loss) income attributable to Icahn Enterprises	(28)	(8)
Icahn Enterprises Holdings
Net (loss) income	(2,306)	(664)
Other comprehensive income (loss), net of tax:
Translation adjustments	(3)	(1)
Post-retirement benefits and other		1
Other comprehensive loss, net of tax	(3)
Comprehensive (loss) income	(2,309)	(664)
Less: Comprehensive (loss) income attributable to non-controlling interests	(922)	(270)
Comprehensive (loss) income attributable to Icahn Enterprises	(1,387)	(394)
Icahn Enterprises Holdings \| Limited partners
Net (loss) income	(1,370)	(390)
Other comprehensive income (loss), net of tax:
Other comprehensive loss, net of tax	(3)
Comprehensive (loss) income attributable to Icahn Enterprises	(1,373)	(390)
Icahn Enterprises Holdings \| General partner
Net (loss) income	(14)	(4)
Other comprehensive income (loss), net of tax:
Other comprehensive loss, net of tax	0
Comprehensive (loss) income attributable to Icahn Enterprises	$ (14)	$ (4)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Millions	General partnerIcahn Enterprises Holdings	General partner	Limited partnersIcahn Enterprises Holdings	Limited partners	Total Partners' EquityIcahn Enterprises Holdings	Total Partners' Equity	Non-controlling InterestsIcahn Enterprises Holdings	Non-controlling Interests	Icahn Enterprises Holdings	Total
Total equity at Dec. 31, 2018	$ (864)	$ (790)	$ 7,452	$ 7,350	$ 6,588	$ 6,560	$ 6,420	$ 6,420	$ 13,008	$ 12,980
Increase (Decrease) in Equity
Net loss	(4)	(8)	(390)	(386)	(394)	(394)	(270)	(270)	(664)	(664)
Partnership distributions payable	0	(8)	(387)	(383)	(391)	(391)	0	0	(391)	(391)
Dividends and distributions to non-controlling interests in subsidiaries	0	0	0	0	0	0	(30)	(30)	(30)	(30)
Changes in subsidiary equity and other	1	2	63	62	64	64	(307)	(307)	(243)	(243)
Total equity at Mar. 31, 2019	(871)	(804)	6,738	6,643	5,867	5,839	5,813	5,813	11,680	11,652
Total equity at Dec. 31, 2019	(875)	(812)	6,328	6,268	5,453	5,456	5,486	5,486	10,939	10,942
Increase (Decrease) in Equity
Net loss	(14)	(28)	(1,370)	(1,356)	(1,384)	(1,384)	(922)	(922)	(2,306)	(2,306)
Other comprehensive income (loss)	0	0	(3)	(3)	(3)	(3)	0	0	(3)	(3)
Partnership distributions payable	(4)	(9)	(433)	(428)	(437)	(437)	0	0	(437)	(437)
Partnership contributions	0	0	7	7	7	7	0	0	7	7
Investment segment contributions	0	0	0	0	0	0	1,241	1,241	1,241	1,241
Dividends and distributions to non-controlling interests in subsidiaries	0	0	0	0	0	0	(23)	(23)	(23)	(23)
Changes in subsidiary equity and other	0	0	(4)	(4)	(4)	(4)	0	0	(4)	(4)
Total equity at Mar. 31, 2020	$ (893)	$ (849)	$ 4,525	$ 4,484	$ 3,632	$ 3,635	$ 5,782	$ 5,782	$ 9,414	$ 9,417

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net (loss) income	$ (2,306)	$ (664)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Net loss (gain) from securities transactions	4,402	(505)
Purchases of securities	(1,279)	(584)
Proceeds from sales of securities	20	966
Payments to cover securities sold, not yet purchased	(635)	(113)
Proceeds from securities sold, not yet purchased	0	17
Changes in receivables and payables relating to securities transactions	2,292	(663)
Depreciation and amortization	121	123
Deferred taxes	(144)	(8)
Other, net	57	5
Changes in unrealized gains/losses on derivative contracts	(3,827)	1,183
Changes in operating assets and liabilities	(74)	(45)
Net cash (used in) provided by operating activities	(1,373)	(288)
Cash flows from investing activities:
Capital expenditures	(53)	(65)
Acquisition of businesses, net of cash acquired	(1)	(10)
Purchases of investments	(254)	(25)
Proceeds from sale of investments	0	424
Other, net	(16)	(10)
Net cash provided by (used in) investing activities	(324)	314
Cash flows from financing activities:
Investment segment contributions from non-controlling interests	1	0
Partnership contributions	7	0
Purchase of additional interests in consolidated subsidiaries	0	(241)
Dividends and distributions to non-controlling interests in subsidiaries	(23)	(30)
Proceeds from Holding Company senior unsecured notes	866	0
Repayments of Holding Company senior unsecured notes	(1,350)	0
Proceeds from subsidiary borrowings	1,368	269
Repayments of subsidiary borrowings	(848)	(271)
Other, net	(14)	1
Net cash used in financing activities	7	(272)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and restricted cash equivalents	2	(1)
Add back change in cash and restricted cash of assets held for sale	0	(28)
Net decrease in cash and cash equivalents and restricted cash and restricted cash equivalents	(1,688)	(275)
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period	4,945	5,338
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period	3,257	5,063
Icahn Enterprises Holdings
Cash flows from operating activities:
Net (loss) income	(2,306)	(664)
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Net loss (gain) from securities transactions	4,402	(505)
Purchases of securities	(1,279)	(584)
Proceeds from sales of securities	20	966
Payments to cover securities sold, not yet purchased	(635)	(113)
Proceeds from securities sold, not yet purchased	0	17
Changes in receivables and payables relating to securities transactions	2,292	(663)
Depreciation and amortization	121	123
Deferred taxes	(144)	(8)
Other, net	57	5
Changes in unrealized gains/losses on derivative contracts	(3,827)	1,183
Changes in operating assets and liabilities	(74)	(45)
Net cash (used in) provided by operating activities	(1,373)	(288)
Cash flows from investing activities:
Capital expenditures	(53)	(65)
Acquisition of businesses, net of cash acquired	(1)	(10)
Purchases of investments	(254)	(25)
Proceeds from sale of investments	0	424
Other, net	(16)	(10)
Net cash provided by (used in) investing activities	(324)	314
Cash flows from financing activities:
Investment segment contributions from non-controlling interests	1	0
Partnership contributions	7	0
Purchase of additional interests in consolidated subsidiaries	0	(241)
Dividends and distributions to non-controlling interests in subsidiaries	(23)	(30)
Proceeds from Holding Company senior unsecured notes	866	0
Repayments of Holding Company senior unsecured notes	(1,350)	0
Proceeds from subsidiary borrowings	1,368	269
Repayments of subsidiary borrowings	(848)	(271)
Other, net	(14)	1
Net cash used in financing activities	7	(272)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and restricted cash equivalents	2	(1)
Add back change in cash and restricted cash of assets held for sale	0	(28)
Net decrease in cash and cash equivalents and restricted cash and restricted cash equivalents	(1,688)	(275)
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period	4,945	5,338
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period	$ 3,257	$ 5,063

Description of Business

Description of Business	3 Months Ended
Description of Business	Mar. 31, 2020
Description of Business
Description of Business	1. Description of Business. Overview Icahn Enterprises L.P. (“Icahn Enterprises”) is a master limited partnership formed in Delaware on February 17, 1987. Icahn Enterprises Holdings L.P. (“Icahn Enterprises Holdings”) is a limited partnership formed in Delaware on February 17, 1987. References to “we,” “our” or “us” herein include both Icahn Enterprises and Icahn Enterprises Holdings and their subsidiaries, unless the context otherwise requires. Icahn Enterprises owns a 99% limited partner interest in Icahn Enterprises Holdings. Icahn Enterprises G.P. Inc. (“Icahn Enterprises GP”), which is owned and controlled by Mr. Carl C. Icahn, owns a 1% general partner interest in each of Icahn Enterprises and Icahn Enterprises Holdings as of March 31, 2020. Icahn Enterprises Holdings and its subsidiaries own substantially all of our assets and liabilities and conduct substantially all of our operations. Therefore, the financial results of Icahn Enterprises and Icahn Enterprises Holdings are substantially the same, with differences relating primarily to the allocation of the general partner interest, which is reflected as an aggregate 1.99% general partner interest in the financial statements of Icahn Enterprises. In addition to the above, Mr. Icahn and his affiliates owned approximately 92.0% of Icahn Enterprises’ outstanding depositary units as of March 31, 2020. Description of Continuing Operating Businesses We are a diversified holding company owning subsidiaries currently engaged in the following continuing operating businesses: Investment, Energy, Automotive, Food Packaging, Metals, Real Estate and Home Fashion. We also report the results of our Holding Company, which includes the results of certain subsidiaries of Icahn Enterprises and Icahn Enterprises Holdings (unless otherwise noted), and investment activity and expenses associated with our Holding Company. Our historical results also report the results of our Mining segment, until sold on August 1, 2019. See Note 12, “Segment Reporting,” for a reconciliation of each of our reporting segment’s results of operations to our consolidated results. Certain additional information with respect to our segments is discussed below. Investment Our Investment segment is comprised of various private investment funds (“Investment Funds”) in which we have general partner interests and through which we invest our proprietary capital. As general partner, we provide investment advisory and certain administrative and back office services to the Investment Funds but do not provide such services to any other entities, individuals or accounts. We and certain of Mr. Icahn’s wholly owned affiliates are the only investors in the Investment Funds. Interests in the Investment Funds are not offered to outside investors. We had interests in the Investment Funds with a fair value of approximately $4.4 billion and $4.3 billion as of March 31, 2020 and December 31, 2019, respectively. Energy We conduct our Energy segment through our majority owned subsidiary, CVR Energy, Inc. (“CVR Energy”). CVR Energy is a diversified holding company primarily engaged in the petroleum refining and nitrogen fertilizer manufacturing businesses through its holdings in CVR Refining, LP (“CVR Refining”) and CVR Partners, LP (“CVR Partners”), respectively. CVR Refining is an independent petroleum refiner and marketer of high value transportation fuels. CVR Partners produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia. CVR Energy has a general partner interest in each of CVR Refining and CVR Partners. In addition, CVR Energy is the sole limited partner of CVR Refining and owns 34.4% of the outstanding common units of CVR Partners as of March 31, 2020. As of March 31, 2020, we owned approximately 70.8% of the total outstanding common stock of CVR Energy. On January 29, 2019, CVR Energy, pursuant to the exercise of its right to purchase all of the issued and outstanding common units in CVR Refining, purchased the remaining common units of CVR Refining not already owned by CVR Energy, including the purchase of CVR Refining common units owned directly by us. Prior to this, CVR Energy owned approximately 80.6% of the common units of CVR Refining and we directly owned approximately 3.9% of the common units of CVR Refining. As a result of exercising its purchase right, as of January 29, 2019, CVR Energy owns all of the common units of CVR Refining and we no longer have any direct ownership in CVR Refining. In addition, the common units of CVR Refining have subsequently ceased to be publicly traded or listed on the New York Stock Exchange or any other national securities exchange. The remaining common units of CVR Refining acquired in this transaction were purchased for $241 million, excluding the amount paid by CVR Energy to us for the common units of CVR Refining directly owned by us. Automotive We conduct our Automotive segment through our wholly owned subsidiary, Icahn Automotive Group LLC (“Icahn Automotive”). Icahn Automotive is engaged in the retail and wholesale distribution of automotive parts in the aftermarket (“aftermarket parts”) as well as providing automotive repair and maintenance services (“automotive services”) to its customers. Icahn Automotive’s aftermarket parts and automotive services businesses serve different customer channels and have distinct strategies, opportunities and requirements and therefore are operated as two independent operating companies, each with its own Chief Executive Officer and management teams, and both of which are supported by a central shared service group. Our Automotive segment also includes our separate equity method investment in 767 Auto Leasing LLC (“767 Leasing”), a joint venture created by us to purchase vehicles for lease, as described further in Note 3, “Related Party Transactions.” Our investment in 767 Leasing is included as a component of our Automotive segment due to the nature of the joint venture activities. Food Packaging We conduct our Food Packaging segment through our majority owned subsidiary, Viskase Companies, Inc. (“Viskase”). Viskase is a producer of cellulosic, fibrous and plastic casings used to prepare and package processed meat products. As of March 31, 2020, we owned approximately 78.6% of the total outstanding common stock of Viskase. Metals We conduct our Metals segment through our wholly owned subsidiary, PSC Metals LLC (“PSC Metals”). PSC Metals is principally engaged in the business of collecting, processing and selling ferrous and non-ferrous metals, as well as the processing and distribution of steel pipe and plate products. PSC Metals collects industrial and obsolete scrap metal, processes it into reusable forms and supplies the recycled metals to its customers . Real Estate Our Real Estate operations consist primarily of rental real estate, property development and associated club activities, as well as hotel, timeshare and casino operations. Our rental real estate operations consist primarily of office and industrial properties. Our property development operations are run primarily through a real estate investment, management and development subsidiary that focuses primarily on the construction and sale of single-family and multi-family homes, lots in subdivisions and planned communities, and raw land for residential development. Our property development locations also operate golf and club operations. Our Real Estate segment’s hotel, timeshare and casino operations consist of a resort property in Aruba as well as a casino property in Atlantic City, New Jersey, which ceased operations in 2014 prior to our obtaining control of the property. Home Fashion We conduct our Home Fashion segment through our wholly owned subsidiary, WestPoint Home LLC (“WPH”). WPH’s business consists of manufacturing, sourcing, marketing, distributing and selling home fashion consumer products. Mining We conducted our Mining segment through our majority owned subsidiary, Ferrous Resources Ltd. (“Ferrous Resources”). Ferrous Resources acquired certain rights to iron ore mineral resources in Brazil and develops mining operations and related infrastructure to produce and sell iron ore products to the global steel industry. On August 1, 2019, we closed on the previously announced sale of Ferrous Resources. Prior to the sale of Ferrous Resources, we owned approximately 77.2% of its total outstanding common stock. Subsequent to the sale, we no longer operate an active Mining segment.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies (Notes)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies. We conduct and plan to continue to conduct our activities in such a manner as not to be deemed an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”). Therefore, no more than 40% of our total assets can be invested in investment securities, as such term is defined in the Investment Company Act. In addition, we do not invest or intend to invest in securities as our primary business. We intend to structure our investments to continue to be taxed as a partnership rather than as a corporation under the applicable publicly traded partnership rules of the Internal Revenue Code, as amended. Events beyond our control, including significant appreciation or depreciation in the market value of certain of our publicly traded holdings or adverse developments with respect to our ownership of certain of our subsidiaries, could result in our inadvertently becoming an investment company that is required to register under the Investment Company Act. Our sales of Federal-Mogul LLC, Tropicana Entertainment Inc., American Railcar Industries, Inc. and Ferrous Resources in recent years did not result in our being considered an investment company. However, additional transactions involving the sale of certain assets could result in our being considered an investment company. Following such events or transactions, an exemption under the Investment Company Act would provide us up to one year to take steps to avoid becoming classified as an investment company. We expect to take steps to avoid becoming classified as an investment company, but no assurance can be made that we will successfully be able to take the steps necessary to avoid becoming classified as an investment company. The accompanying condensed consolidated financial statements and related notes should be read in conjunction with our consolidated financial statements and related notes contained in our Annual Report on Form 10-K for the year ended December 31, 2019. The condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) related to interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The financial information contained herein is unaudited; however, management believes all adjustments have been made that are necessary to present fairly the results for the interim periods. All such adjustments are of a normal and recurring nature. Current Economic Conditions In March 2020, the World Health Organization categorized COVID-19 as a pandemic and the President of the United States declared the COVID-19 outbreak a national emergency. The COVID-19 pandemic, and actions taken by governments and others in response thereto, has negatively impacted the global economy, financial markets, and the industries in which our subsidiaries operate. Our consolidated results of operations and financial condition have been impacted primarily by the net declines in fair value of investments held by our Investment segment and the Holding Company (primarily unrealized) as well as declines in the global demand for refined products, especially gasoline, with respect to our Energy segment. The impact on our businesses has also included the acceleration of selective planned store closures in our Automotive segment, lowering current year forecasts across various segments and recording write-downs to inventories. We believe that the current economic conditions will continue to impact our businesses through at least the first half of 2020, and likely through the remainder of the year. The extent and duration of impact on our future results of operations, liquidity and financial condition is uncertain and may be significant. Principles of Consolidation As of March 31, 2020, our condensed consolidated financial statements include the accounts of (i) Icahn Enterprises and Icahn Enterprises Holdings and (ii) the wholly and majority owned subsidiaries of Icahn Enterprises and Icahn Enterprises Holdings, in addition to variable interest entities (“VIEs”) in which we are the primary beneficiary. In evaluating whether we have a controlling financial interest in entities that we consolidate, we consider the following: (1) for voting interest entities, including limited partnerships and similar entities that are not VIEs, we consolidate these entities in which we own a majority of the voting interests; and (2) for VIEs, we consolidate these entities in which we are the primary beneficiary. See below for a discussion of our VIEs. Kick-out rights, which are the rights underlying the limited partners’ ability to dissolve the limited partnership or otherwise remove the general partners, held through voting interests of partnerships and similar entities that are not VIEs are considered the equivalent of the equity interests of corporations that are not VIEs. Except for our Investment segment and Holding Company, for equity investments in which we own 50% or less but greater than 20%, we generally account for such investments using the equity method. All other equity investments are accounted for at fair value. Reclassifications Certain reclassifications from the prior year presentation have been made to conform to the current year presentation, which did not have an impact on previously reported net income and equity and are not deemed material. Consolidated Variable Interest Entities The following is a discussion of variable interest entities in which we are deemed to be the primary beneficiary and in which we therefore consolidate. In addition, as discussed in Note 3, “Related Party Transactions,” we have a variable interest in an entity in which we are not the primary beneficiary and therefore we do not consolidate. Icahn Enterprises Holdings We determined that Icahn Enterprises Holdings is a VIE because it is a limited partnership that lacks both substantive kick-out and participating rights. Although Icahn Enterprises is not the general partner of Icahn Enterprises Holdings, Icahn Enterprises is deemed to be the primary beneficiary of Icahn Enterprises Holdings principally based on its 99% limited partner interest in Icahn Enterprises Holdings, as well as our related party relationship with the general partner, and therefore continues to consolidate Icahn Enterprises Holdings. The condensed consolidated financial statements of Icahn Enterprises Holdings are included in this Report. The balances with respect to Icahn Enterprises Holdings’ consolidated VIEs are discussed below, comprising the Investment Funds, CVR Partners and Viskase’s joint venture. Investment We determined that each of the Investment Funds are considered VIEs because these limited partnerships lack both substantive kick-out and participating rights. Because we have a general partner interest in each of the Investment Funds and have significant limited partner interests in each of the Investment Funds, coupled with our significant exposure to losses and benefits in each of the Investment Funds, we are the primary beneficiary of each of the Investment Funds and therefore continue to consolidate each of the Investment Funds. Energy CVR Partners is considered a VIE because it is a limited partnership that lacks both substantive kick-out and participating rights. In addition, CVR Energy also concluded that, based upon its general partner’s roles and rights in CVR Partners as afforded by CVR Partners’ partnership agreement, coupled with its exposure to losses and benefits in CVR Partners through its significant limited partner interest, intercompany credit facilities and services agreements, it is the primary beneficiary of CVR Partners. Food Packaging Viskase holds a variable interest in a joint venture for which Viskase is the primary beneficiary. Viskase’s interest in the joint venture includes a 50% equity interest and also relates to the sales, operations, administrative and financial support to the joint venture through providing many of the assets used in its business. The following table includes balances of assets and liabilities of VIE’s included in Icahn Enterprises Holdings’ condensed consolidated balance sheets. March 31, December 31, 2020 2019 (in millions) Cash and cash equivalents $ 61 $ 42 Cash held at consolidated affiliated partnerships and restricted cash 851 989 Investments 7,519 9,207 Due from brokers 1,432 858 Inventories, net 55 48 Property, plant and equipment, net 1,108 1,123 Intangible assets, net 253 258 Other assets 2,936 266 Accounts payable, accrued expenses and other liabilities 197 1,338 Securities sold, not yet purchased, at fair value 459 1,190 Due to brokers 2,938 54 Debt 634 633 Fair Value of Financial Instruments The carrying values of cash and cash equivalents, cash held at consolidated affiliated partnerships and restricted cash, accounts receivable, due from brokers, accounts payable, accrued expenses and other liabilities and due to brokers are deemed to be reasonable estimates of their fair values because of their short-term nature. See Note 4, “Investments,” and Note 5, “Fair Value Measurements,” for a detailed discussion of our investments and other non-financial assets and/or liabilities. The fair value of our long-term debt is based on the quoted market prices for the same or similar issues or on the current rates offered to us for debt of the same remaining maturities. The carrying value and estimated fair value of our long-term debt as of March 31, 2020 was approximately $8.2 billion and $7.4 billion, respectively. The carrying value and estimated fair value of our long-term debt as of December 31, 2019 was approximately $8.2 billion and $7.6 billion, respectively. Cash Flow Cash and cash equivalents and restricted cash and restricted cash equivalents on our condensed consolidated statements of cash flows is comprised of (i) cash and cash equivalents and (ii) cash held at consolidated affiliated partnerships and restricted cash. Cash Held at Consolidated Affiliated Partnerships and Restricted Cash Our cash held at consolidated affiliated partnerships balance was $235 million and $86 million as of March 31, 2020 and December 31, 2019, respectively. Cash held at consolidated affiliated partnerships relates to our Investment segment and consists of cash and cash equivalents held by the Investment Funds that, although not legally restricted, are not available to fund the general liquidity needs of the Investment segment or Icahn Enterprises. Our restricted cash balance was $641 million and $1,065 million as of March 31, 2020 and December 31, 2019, respectively. Restricted cash primarily relates to our Investment segment’s cash pledged and held for margin requirements on derivative transactions. Revenue From Contracts With Customers and Contract Balances Due to the nature of our business, we derive revenue from various sources in various industries. With the exception of all of our Investment segment’s and our Holding Company’s revenues, and our Real Estate segment’s leasing revenue, our revenue is generally derived from contracts with customers. Such revenue from contracts with customers are included in net sales and other revenues from operations in the condensed consolidated statements of operations, however, our Real Estate segment’s leasing revenue, as disclosed in Note 9, “Leases,” is also included in other revenues from operations. Related contract assets are included in accounts receivable, net or other assets and related contract liabilities are included in accrued expenses and other liabilities in the condensed consolidated balance sheets. Our disaggregation of revenue information includes our net sales and other revenues from operations for each of our reporting segments as well as additional disaggregation of revenue information for our Energy and Automotive segments. See Note 12, “Segment Reporting,” for our complete disaggregation of revenue information. In addition, we disclose additional information with respect to revenue from contracts with customers and contract balances for our Energy and Automotive segments below. Energy Our Energy segment’s deferred revenue is a contract liability that primarily relates to fertilizer sales contracts requiring customer prepayment prior to product delivery to guarantee a price and supply of nitrogen fertilizer. Deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional prior to transferring product to the customer. An associated receivable is recorded for uncollected prepaid contract amounts. Contracts requiring prepayment are generally short-term in nature and, as discussed above, revenue is recognized at the point in time in which the customer obtains control of the product. Our Energy segment had deferred revenue of $38 million and $28 million as of March 31, 2020 and December 31, 2019, respectively. For the three months ended March 31, 2020 and 2019, our Energy segment recorded revenue of $6 million and $12 million, respectively, with respect to deferred revenue outstanding as of the beginning of each respective period. As of March 31, 2020, our Energy segment had $10 million of remaining performance obligations for contracts with an original expected duration of more than one year. Our Energy segment expects to recognize approximately $3 million of these performance obligations as revenue by the end of 2020 and the remaining balance thereafter. Automotive Our Automotive segment has deferred revenue with respect to extended warranty plans of $41 million and $42 million as of March 31, 2020 and December 31, 2019, respectively, which are included in accrued expenses and other liabilities on the condensed consolidated balance sheets. For the three months ended March 31, 2020 and 2019, our Automotive segment recorded revenue of $6 million and $6 million, respectively, with respect to deferred revenue outstanding as of the beginning of each respective year. Adoption of New Accounting Standards In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments Financial Instruments - Credit Losses. Targeted Transition Relief In August 2018, the FASB issued ASU 2018-13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurements Fair Value Measurements In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract Intangibles-Goodwill and Other-Internal-Use Software Recently Issued Accounting Standards In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes Income Taxes In March 2020, the FASB issued ASU 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting Reference Rate Reform

Related Party Transactions

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	3. Related Party Transactions. Our second amended and restated agreement of limited partnership expressly permits us to enter into transactions with our general partner or any of its affiliates, including, without limitation, buying or selling properties from or to our general partner and any of its affiliates and borrowing and lending money from or to our general partner and any of its affiliates, subject to limitations contained in our partnership agreement and the Delaware Revised Uniform Limited Partnership Act. The indentures governing our indebtedness contain certain covenants applicable to transactions with affiliates. Investment Funds During the three months ended March 31, 2020, Mr. Icahn and his affiliates (excluding us) contributed $1,241 million to the Investment Funds consisting primarily of in-kind investments previously held directly by Mr. Icahn and his affiliates (excluding us). As of March 31, 2020 and December 31, 2019, the total fair market value of investments in the Investment Funds made by Mr. Icahn and his affiliates (excluding us) was approximately $4.9 billion and $4.5 billion, respectively, representing approximately 53% and 51% of the Investment Funds’ assets under management as of each respective date. We pay for expenses pertaining to the operation, administration and investment activities of our Investment segment for the benefit of the Investment Funds (including salaries, benefits and rent). Effective April 1, 2011, based on an expense-sharing arrangement, certain expenses borne by us are reimbursed by the Investment Funds. For the three months ended March 31, 2020 and 2019, $(6) million and $3 million, respectively, was allocated to the Investment Funds based on this expense-sharing arrangement. For the three months ended March 31, 2020, the allocation was reduced by $8 million relating to certain compensation arrangements. Hertz Global Holdings, Inc. As discussed in Note 4, “Investments,” the Investment Funds have an investment in the common stock of Hertz Global Holdings, Inc. (“Hertz”) measured at fair value that would have otherwise been subject to the equity method of accounting. Icahn Automotive provides services to Hertz in the ordinary course of business. For the three months ended March 31, 2020 and 2019, revenue from Hertz was $14 million and $12 million, respectively. In addition to our transactions with Hertz disclosed above, in January 2018, we entered into a Master Motor Vehicle Lease and Management Agreement with Hertz, pursuant to which Hertz granted 767 Leasing the option to acquire certain vehicles from Hertz at rates aligned with the rates at which Hertz sells vehicles to third parties. Under this agreement, as amended, Hertz will lease the vehicles that 767 Leasing purchases from Hertz, or from third parties, under a mutually developed fleet plan and Hertz will manage, service, repair, sell and maintain those leased vehicles on behalf of 767 Leasing. Additionally, Hertz will rent the leased vehicles to transportation network company drivers from rental counters within locations leased or owned by us. This agreement had an initial term of 18 months and is subject to automatic six-month renewals thereafter, unless terminated by either party (with or without cause) prior to the start of any such six-month renewal. Our agreement with Hertz was unanimously approved by the independent directors of Icahn Enterprises’ audit committee. Due to the nature of our involvement with 767 Leasing, which includes Icahn Enterprises and Icahn Enterprises Holdings guaranteeing the payment obligations of 767 Leasing and sharing in the profits of 767 Leasing with Hertz, we determined that 767 Leasing is a variable interest entity. Furthermore, we determined that we are not the primary beneficiary as we do not have the power to direct the activities of 767 Leasing that most significantly impact its economic performance. Therefore, we do not consolidate the results of 767 Leasing. Our exposure to loss with respect to 767 Leasing is primarily limited to our direct investment in 767 Leasing as well as any payment obligations of 767 Leasing that we guarantee, which are not material as of March 31, 2020 and December 31, 2019. As of March 31, 2020 and December 31, 2019, 767 Leasing had total assets of $120 million and $121 million, respectively (primarily vehicles for lease) and total liabilities of $0 million and $1 million, respectively, which represents a payable to Icahn Automotive in connection with a shared services agreement. For the three months ended March 31, 2019, we invested $25 million in 767 Leasing. For the three months ended March 31, 2020 and 2019, we had equity earnings from 767 Leasing of $0 million and $2 million, respectively. As of March 31, 2020 and December 31, 2019, we had an equity method investment in 767 Leasing of $120 million, which we report in our Automotive segment. Insight Portfolio Group LLC Insight Portfolio Group LLC (“Insight Portfolio Group”) was an entity formed and controlled by Mr. Icahn in order to maximize the potential buying power of a group of entities with which Mr. Icahn has a relationship in negotiating with a wide range of suppliers of goods, services and tangible and intangible property at negotiated rates. Icahn Enterprises Holdings had a minority equity interest in Insight Portfolio Group and agreed to pay a portion of Insight Portfolio Group’s operating expenses. In addition to the minority equity interest held by Icahn Enterprises Holdings, certain subsidiaries of ours, including CVR Energy, Viskase, PSC Metals and WPH also acquired minority equity interests in Insight Portfolio Group and agreed to pay a portion of Insight Portfolio Group’s operating expenses. A number of other entities with which Mr. Icahn has a relationship also had minority equity interests in Insight Portfolio Group and also agreed to pay certain of Insight Portfolio Group’s operating expenses. Insight Portfolio Group ceased operations effective January 1, 2020. For the three months ended March 31, 2019, we and certain of our subsidiaries paid certain of Insight Portfolio Group’s operating expenses of $1 million.

Investments

Investments	3 Months Ended
Investments	Mar. 31, 2020
Schedule of Investments [Abstract]
Investments and Related Matters	4. Investments. Investment Investments and securities sold, not yet purchased consist of equities, bonds, bank debt and other corporate obligations, all of which are reported at fair value in our condensed consolidated balance sheets. These investments are considered trading securities. In addition, our Investment segment has certain derivative transactions which are discussed in Note 6, “Financial Instruments.” The carrying value and detail by security type, including business sector for equity securities, with respect to investments and securities sold, not yet purchased held by our Investment segment consist of the following: March 31, December 31, 2020 2019 (in millions) Assets Investments: Equity securities: Basic materials $ 181 $ 281 Consumer, non-cyclical 1,478 2,085 Consumer, cyclical 1,881 2,427 Energy 1,758 1,717 Technology 2,061 2,425 Industrial 61 127 7,420 9,062 Corporate debt securities 99 145 $ 7,519 $ 9,207 Liabilities Securities sold, not yet purchased, at fair value: Equity securities: Basic materials $ 23 $ 209 Consumer, non-cyclical — 29 Consumer, cyclical 188 379 Energy — 124 Financial 84 152 Technology 138 217 Communication 26 80 $ 459 $ 1,190 The portion of unrealized (losses) gains that relates to securities still held by our Investment segment, primarily equity securities, was $(4,170) million and $558 million for three months ended March 31, 2020 and 2019, respectively. After considering specific facts and circumstances, including the collective ownership in entities by the Investment Funds and affiliates of Mr. Icahn, as well as their collective representation on each of the boards of directors, we have determined that we have the ability to exercise significant influence over the operating and financial policies of certain investees below. The following table summarizes our direct ownership in such investees as well as certain financial information with respect to such investees in our condensed consolidated financial statements during the respective periods in which we possessed the ability to exercise significant influence over the operating and financial policies of the investee. Voting Fair Value of Gains (Losses) Interests Investment Recognized in Income March 31, March 31, December 31, Three Months Ended March 31, 2020 2020 2019 2020 2019 (in millions) Herbalife Nutrition Ltd. 23.9% $ 1,027 $ 1,343 $ (515) $ (168) Hertz Global Holdings, Inc. 38.9% 342 551 (335) 95 Caesars Entertainment Corporation 16.7% 772 1,243 (595) 26 $ 2,141 $ 3,137 $ (1,445) $ (47) Each of these investees file annual, quarterly and current reports, and proxy and information statements with the SEC. During the second quarter of 2019, we agreed to vote our Caesars’ shares in favor of the proposed merger between Caesars and Eldorado Resorts, Inc. (“Eldorado”). Pursuant to the merger, Caesars will merge into a subsidiary of Eldorado and Caesars stockholders will have the right, subject to certain allocation limitations, to elect to receive cash, stock in Eldorado, or a combination of cash and stock. Upon consummation of the merger, depending on what consideration we and other stockholders elect, we expect to receive a combination of cash and Eldorado shares. The transaction has not yet been consummated as of March 31, 2020. The following table contains summarized financial information for Herbalife Nutrition Ltd., which is a significant investee as defined by SEC Regulations, as if such investee was consolidated in our financial statements during the respective periods in which we possessed the ability to exercise significant influence over the operating and financial policies of. Herbalife Nutrition Ltd. Three Months Ended March 31, 2020 2019 (in millions) Net sales $ 1,262 $ 1,172 Cost of goods sold 246 242 Net income (loss) 46 96 Net income (loss) attributable to shareholders 46 96 Other Segments and Holding Company With the exception of certain equity method investments at our operating subsidiaries and our Holding Company disclosed in the table below, our investments are measured at fair value in our condensed consolidated balance sheets. The carrying value of investments held by our other segments and our Holding Company consist of the following: March 31, December 31, 2020 2019 (in millions) Equity method investments $ 199 $ 201 Other investments (measured at fair value) 479 537 $ 678 $ 738 The portion of unrealized losses that relates to equity securities still held by our other segments and Holding Company was $312 million and $154 million for the three months ended March 31, 2020 and 2019, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements. U.S. GAAP requires enhanced disclosures about investments and non-recurring non-financial assets and liabilities that are measured and reported at fair value and has established a hierarchal disclosure framework that prioritizes and ranks the level of market price observability used in measuring investments or non-financial assets and liabilities at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment. Investments with readily available active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments and non-financial assets and/or liabilities measured and reported at fair value are classified and disclosed in one of the following categories: Level 1 - Quoted prices are available in active markets for identical investments and non-financial assets and/or liabilities as of the reporting date. Level 2 - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies where all significant inputs are observable. The inputs and assumptions of our Level 2 investments are derived from market observable sources including reported trades, broker/dealer quotes and other pertinent data. Level 3 - Pricing inputs are unobservable for the investment and non-financial asset and/or liability and include situations where there is little, if any, market activity for the investment or non-financial asset and/or liability. The inputs into the determination of fair value require significant management judgment or estimation. Fair value is determined using comparable market transactions and other valuation methodologies, adjusted as appropriate for liquidity, credit, market and/or other risk factors. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the investments’, non-financial assets’ and/or liabilities’ level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the investment. Significant transfers, if any, between the levels within the fair value hierarchy are recognized at the beginning of the reporting period when changes in circumstances require such transfers. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes the valuation of our assets and liabilities by the above fair value hierarchy levels measured on a recurring basis: March 31, 2020 December 31, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Assets Investments (Note 4) $ 7,748 $ 235 $ 3 $ 7,986 $ 9,448 $ 281 $ 3 $ 9,732 Derivative contracts, at fair value (Note 6) — 2,866 — 2,866 — 182 — 182 $ 7,748 $ 3,101 $ 3 $ 10,852 $ 9,448 $ 463 $ 3 $ 9,914 Liabilities Securities sold, not yet purchased (Note 4) $ 459 $ — $ — $ 459 $ 1,190 $ — $ — $ 1,190 Derivative contracts, at fair value (Note 6) — 81 — 81 — 1,224 — 1,224 Other liabilities — 6 6 12 — 7 6 13 $ 459 $ 87 $ 6 $ 552 $ 1,190 $ 1,231 $ 6 $ 2,427 Assets Measured at Fair Value on a Recurring Basis for Which We Use Level 3 Inputs to Determine Fair Value The changes in investments measured at fair value on a recurring basis for which we use Level 3 inputs to determine fair value are as follows: Three Months Ended March 31, 2020 2019 (in millions) Balance at January 1 $ 3 $ 372 Net gains recognized in income — 89 Sales — (458) Balance at March 31 $ 3 $ 3 At the beginning of 2019, we had a certain equity investment which was considered a Level 3 investment due to unobservable market data and was measured at fair value on a recurring basis. We determined the fair value of this investment based on recent market transactions. During the first quarter of 2019, we sold this investment in its entirety.

Financial Instruments

Financial Instruments	3 Months Ended
Financial Instruments	Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	6. Financial Instruments. Overview Investment In the normal course of business, the Investment Funds may trade various financial instruments and enter into certain investment activities, which may give rise to off-balance-sheet risks, with the objective of capital appreciation or as economic hedges against other securities or the market as a whole. The Investment Funds’ investments may include futures, options, swaps and securities sold, not yet purchased. These financial instruments represent future commitments to purchase or sell other financial instruments or to exchange an amount of cash based on the change in an underlying instrument at specific terms at specified future dates. Risks arise with these financial instruments from potential counterparty non-performance and from changes in the market values of underlying instruments. Credit concentrations may arise from investment activities and may be impacted by changes in economic, industry or political factors. The Investment Funds routinely execute transactions with counterparties in the financial services industry, resulting in credit concentration with respect to the financial services industry. In the ordinary course of business, the Investment Funds may also be subject to a concentration of credit risk to a particular counterparty. The Investment Funds seek to mitigate these risks by actively monitoring exposures, collateral requirements and the creditworthiness of its counterparties. The Investment Funds have entered into various types of swap contracts with other counterparties. These agreements provide that they are entitled to receive or are obligated to pay in cash an amount equal to the increase or decrease, respectively, in the value of the underlying shares, debt and other instruments that are the subject of the contracts, during the period from inception of the applicable agreement to its expiration. In addition, pursuant to the terms of such agreements, they are entitled to receive or obligated to pay other amounts, including interest, dividends and other distributions made in respect of the underlying shares, debt and other instruments during the specified time frame. They are also required to pay to the counterparty a floating interest rate equal to the product of the notional amount multiplied by an agreed-upon rate, and they receive interest on any cash collateral that they post to the counterparty at the federal funds or LIBOR rate in effect for such period. The Investment Funds may trade futures contracts. A futures contract is a firm commitment to buy or sell a specified quantity of a standardized amount of a deliverable grade commodity, security, currency or cash at a specified price and specified future date unless the contract is closed before the delivery date. Payments (or variation margin) are made or received by the Investment Funds each day, depending on the daily fluctuations in the value of the contract, and the whole value change is recorded as an unrealized gain or loss by the Investment Funds. When the contract is closed, the Investment Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. The Investment Funds may utilize forward contracts to seek to protect their assets denominated in foreign currencies and precious metals holdings from losses due to fluctuations in foreign exchange rates and spot rates. The Investment Funds’ exposure to credit risk associated with non-performance of such forward contracts is limited to the unrealized gains or losses inherent in such contracts, which are recognized in other assets and accrued expenses and other liabilities in our condensed consolidated balance sheets. The Investment Funds may also enter into foreign currency contracts for purposes other than hedging denominated securities. When entering into a foreign currency forward contract, the Investment Funds agree to receive or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed-upon future date unless the contract is closed before such date. The Investment Funds record unrealized gains or losses on the contracts as measured by the difference between the forward foreign exchange rates at the dates of entry into such contracts and the forward rates at the reporting date. The Investment Funds may also purchase and write option contracts. As a writer of option contracts, the Investment Funds receive a premium at the outset and then bear the market risk of unfavorable changes in the price of the underlying financial instrument. As a result of writing option contracts, the Investment Funds are obligated to purchase or sell, at the holder’s option, the underlying financial instrument. Accordingly, these transactions result in off-balance-sheet risk, as the Investment Funds’ satisfaction of the obligations may exceed the amount recognized in our condensed consolidated balance sheets. Certain terms of the Investment Funds’ contracts with derivative counterparties, which are standard and customary to such contracts, contain certain triggering events that would give the counterparties the right to terminate the derivative instruments. In such events, the counterparties to the derivative instruments could request immediate payment on derivative instruments in net liability positions. The aggregate fair value of all of the Investment Funds’ derivative instruments with credit-risk-related contingent features that are in a liability position as of March 31, 2020 and December 31, 2019 was $0 million and $266 million, respectively. The following table summarizes the volume of our Investment segment’s derivative activities based on their notional exposure, categorized by primary underlying risk: March 31, 2020 December 31, 2019 Long Notional Exposure Short Notional Exposure Long Notional Exposure Short Notional Exposure (in millions) Primary underlying risk: Equity contracts $ 486 $ 12,402 $ 806 $ 13,113 Credit contracts (1) — 1,934 — 622 (1) The short notional amount on our credit default swap positions was approximately $6.4 billion at March 31, 2020. However, because credit spreads cannot compress below zero , our downside short notional exposure to loss is approximately $1.9 billion as of March 31, 2020. The short notional amount on our credit default swap positions was approximately $4.7 billion as of December 31, 2019. However, because credit spreads cannot compress below zero , our downside short notional exposure to loss is $622 million as of December 31, 2019. Certain derivative contracts executed by each of the Investment Funds with a single counterparty are reported on a net-by-counterparty basis where a legal right of offset exists under an enforceable netting agreement. Values for the derivative financial instruments, principally swaps, forwards, over-the-counter options and other conditional and exchange contracts, are reported on a net-by-counterparty basis. The following table presents the fair values of our Investment segment’s derivatives that are not designated as hedging instruments in accordance with U.S. GAAP: Asset Derivatives Liability Derivatives March 31, 2020 December 31, 2019 March 31, 2020 December 31, 2019 (in millions) Equity contracts $ 2,421 $ 291 $ 405 $ 1,058 Credit contracts 759 — — 266 Sub-total 3,180 291 405 1,324 Netting across contract types (1) (324) (109) (324) (109) Total (1) $ 2,856 $ 182 $ 81 $ 1,215 (1) Excludes netting of cash collateral received and posted. The total collateral posted at March 31, 2020 and December 31, 2019 was $616 million and $903 million, respectively, across all counterparties, which are included in cash held at consolidated affiliated partnerships and restricted cash in the condensed consolidated balance sheets. The following table presents the amount of gain (loss) recognized in the condensed consolidated statements of operations for our Investment segment’s derivatives not designated as hedging instruments: Gain (Loss) Recognized in Income (1) Three Months Ended March 31, 2020 2019 (in millions) Equity contracts $ 1,468 $ (1,101) Credit contracts 806 (64) Commodity contracts — (14) $ 2,274 $ (1,179) (1) Gains (losses) recognized on derivatives are classified in net gain (loss) from investment activities in our condensed consolidated statements of operations for our Investment segment. Energy CVR Energy’s businesses are subject to price fluctuations caused by supply conditions, weather, economic conditions, interest rate fluctuations and other factors. To manage price risk on crude oil and other inventories and to fix margins on certain future production, CVR Refining from time to time enters into various commodity derivative transactions. CVR Refining holds derivative instruments, such as exchange-traded crude oil futures and over-the-counter forward swap agreements, which it believes provide an economic hedge on future transactions, but such instruments are not designated as hedge instruments. Under U.S. GAAP CVR Refining may enter into forward purchase or sale contracts associated with renewable identification numbers (“RINs”). As of March 31, 2020 and December 31, 2019, CVR Refining had open forward purchase and sale commitments for 4 million barrels and 5 million barrels, respectively, of Canadian crude oil priced at fixed differentials that are not considered probable of physical settlement and are accounted for as derivatives. As of March 31, 2020 and December 31, 2019, CVR Refining had open fixed-price commitments to purchase 71 million and 20 million RINs, respectively. Certain derivative contracts executed by our Energy segment with a single counterparty are reported on a net-by-counterparty basis where a legal right of offset exists under an enforceable netting agreement. As of March 31, 2020 and December 31, 2019, our Energy segment had gross asset derivatives of $14 million and $3 million, respectively, however, when netted with gross liability derivatives, such net asset derivatives were $10 million and $0 million, respectively. Net asset derivatives are included in other assets on the condensed consolidated balance sheets. Gains recognized on derivatives for our Energy segment were $46 million and $16 million for the three months ended March 31, 2020 and 2019, respectively. Gains recognized on derivatives for our Energy segment are included in cost of goods sold on the condensed consolidated statements of operations.

Inventories, Net (Notes)

Inventories, Net (Notes)	3 Months Ended
Inventories, Net (Notes)	Mar. 31, 2020
Inventory, Net [Abstract]
Inventories, Net	7. Inventories, Net. Inventories, net consists of the following: March 31, December 31, 2020 2019 (in millions) Raw materials $ 152 $ 206 Work in process 89 94 Finished goods 1,342 1,495 $ 1,583 $ 1,795 As of March 31, 2020, our Energy segment had inventories, net with a carrying value in excess of net realizable value. As a result, our Energy segment recorded a write-down of its inventories of $58 million, which is included in cost of goods sold in the condensed consolidated statements of operations for the three months ended March 31, 2020. The write-down represents the difference between the carrying value of inventories accounted for using the first-in-first-out method and selling prices for refined products subsequent to March 31, 2020.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
Goodwill and Intangible Assets, Net	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	8. Goodwill and Intangible Assets, Net. Goodwill consists of the following: March 31, 2020 December 31, 2019 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Impairment Value Amount Impairment Value (in millions) Automotive $ 336 $ (87) $ 249 $ 336 $ (87) $ 249 Food Packaging 6 — 6 6 — 6 Metals 4 — 4 4 — 4 Home Fashion 22 — 22 23 — 23 $ 368 $ (87) $ 281 $ 369 $ (87) $ 282 Intangible assets, net consists of the following: March 31, 2020 December 31, 2019 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Value Amount Amortization Value (in millions) Definite-lived intangible assets: Customer relationships $ 396 $ (160) $ 236 $ 397 $ (155) $ 242 Other 274 (152) 122 274 (147) 127 $ 670 $ (312) $ 358 $ 671 $ (302) $ 369 Indefinite-lived intangible assets $ 62 $ 62 Intangible assets, net $ 420 $ 431 Amortization expense associated with definite-lived intangible assets was $11 million and $10 million for the three months ended March 31, 2020 and 2019, respectively. We utilize the straight-line method of amortization, recognized over the estimated useful lives of the assets. During the first quarter of 2020, due to COVID-19 pandemic and its impact on our Automotive segment’s operations, we performed an interim goodwill impairment analysis. As of March 31, 2020, our Automotive segment had $249 million of goodwill, all of which was allocate to its Service reporting unit. Based on the interim impairment analysis, we determined that the fair value of our Automotive segment’s Service reporting unit was significantly in excess of its carrying value and therefore, no impairment is required.

Leases (Notes)

Leases (Notes)	3 Months Ended
Leases (Notes)	Mar. 31, 2020
Leases [Abstract]
Leases	9. Leases. All Segments and Holding Company We have operating and finance leases primarily within our Automotive, Energy and Food Packaging segments. Our Automotive segment leases assets, primarily real estate (operating) and vehicles (financing). Our Energy segment leases certain pipelines, storage tanks, railcars, office space, land and equipment (operating and financing). Our Food Packaging segment leases assets, primarily real estate, equipment and vehicles (primarily operating). Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Right-of-use assets and related liabilities are recorded on the balance sheet for leases with an initial lease term in excess of twelve months and therefore, do not include any lease arrangements with initial lease terms of twelve months or less. Right-of-use assets and lease liabilities are as follows: March 31, December 31, 2020 2019 (in millions) Operating Leases: Right-of-use assets (other assets) $ 616 $ 624 Lease liabilities (accrued expenses and other liabilities) 637 647 Financing Leases: Right-of-use assets (property, plant and equipment, net) 74 77 Lease liabilities (debt) 89 93 Additional information with respect to our operating leases as of March 31, 2020 and December 31, 2019 is presented below. The lease terms and discount rates for our Energy, Automotive and Food Packaging segments represent weighted averages based on their respective lease liability balances. Right-Of-Use Lease Discount Operating Leases as of March 31, 2020 Assets Liabilities Lease Term Rate (in millions) Energy $ 44 $ 44 3.5 years 5.6% Automotive 492 516 5.0 years 5.7% Food Packaging 32 36 11.6 years 7.4% Other segments and Holding Company 48 41 $ 616 $ 637 Right-Of-Use Lease Discount Operating Leases as of December 31, 2019 Assets Liabilities Lease Term Rate (in millions) Energy $ 48 $ 48 3.7 years 5.6% Automotive 501 527 5.2 years 5.7% Food Packaging 34 38 11.7 years 7.4% Other segments and Holding Company 41 34 $ 624 $ 647 For the three months ended March 31, 2020 and 2019, lease cost was comprised of (i) operating lease cost of $50 million and $49 million, respectively, (ii) amortization of financing lease right-of-use assets of $3 million and $4 million, respectively, and (iii) interest expense on financing lease liabilities of $2 million and $2 million respectively. Our Automotive segment accounted for $43 million and $40 million of total lease cost for the three months ended March 31, 2020 and 2019, respectively. Real Estate Our Real Estate segment leases real estate, primarily commercial properties under long-term operating leases. As of March 31, 2020 and December 31, 2019, our Real Estate segment has assets leased to others included in property, plant and equipment of $224 million and $222 million, respectively, net of accumulated depreciation. Our Real Estate segment’s revenue from operating leases were $8 million for each of the three months ended March 31, 2020 and 2019 and are included in other revenue from operations in the condensed consolidated statements of operations.

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	10. Debt. Debt consists of the following: March 31, December 31, 2020 2019 (in millions) Holding Company: 5.875% senior unsecured notes due 2022 $ — $ 1,345 6.250% senior unsecured notes due 2022 1,211 1,211 6.750% senior unsecured notes due 2024 499 498 4.750% senior unsecured notes due 2024 1,107 498 6.375% senior unsecured notes due 2025 748 748 6.250% senior unsecured notes due 2026 1,250 1,250 5.250% senior unsecured notes due 2027 999 747 5,814 6,297 Reporting Segments: Energy 1,691 1,195 Automotive 415 405 Food Packaging 260 268 Metals 17 7 Real Estate 2 2 Home Fashion 28 18 2,413 1,895 Total Debt $ 8,227 $ 8,192 Holding Company In January 2020, Icahn Enterprises and Icahn Enterprises Finance Corp. (together the “Issuers”) issued $600 million in aggregate principal amount of 4.750% senior unsecured notes due 2024 (the “New 2024 Notes”) and an additional $250 million in aggregate principal amount of 5.250% senior unsecured notes due 2027 (the “New 2027 Notes,” and together with the New 2024 Notes, the “New Notes”). The proceeds from the New Notes, together with cash on hand, were used to repay in full our prior outstanding $1.35 billion principal amount of 5.875% senior unsecured notes due 2022, and to pay accrued interest, related fees and expenses. Interest on the New Notes are payable semi-annually. In connection with these transactions, our Holding Company recorded a loss on extinguishment of debt of $4 million. The New Notes and the related guarantee are the senior unsecured obligations of the Issuers and rank equally with all of the Issuers’ and the Guarantor’s existing and future senior unsecured indebtedness and senior to all of the Issuers’ and the Guarantor’s existing and future subordinated indebtedness. The New Notes and the related guarantee are effectively subordinated to the Issuers’ and the Guarantor’s existing and future secured indebtedness to the extent of the collateral securing such indebtedness. The New Notes and the related guarantee are also effectively subordinated to all indebtedness and other liabilities of the Issuers’ subsidiaries other than the Guarantor. The indenture governing the New Notes restricts the payment of cash distributions, the purchase of equity interests or the purchase, redemption, defeasance or acquisition of debt subordinated to the senior unsecured notes. The indenture also restricts the incurrence of debt or the issuance of disqualified stock, as defined in the indentures, with certain exceptions. In addition, the indenture requires that on each quarterly determination date, Icahn Enterprises and the guarantor of the New Notes (currently only Icahn Enterprises Holdings) maintain certain minimum financial ratios, as defined therein. The indenture also restricts the creation of liens, mergers, consolidations and sales of substantially all of our assets, and transactions with affiliates. Energy In January 2020, CVR Energy issued $600 million in aggregate principal amount of 5.25% senior unsecured notes due 2025 and $400 million in aggregate principal amount of 5.75% senior unsecured notes due 2028. A portion of the net proceeds from the issuance of these notes were used to fund the redemption of CVR Energy’s existing $500 million senior unsecured notes due 2022. The remaining net proceeds will be used from CVR Energy’s general corporate purposes. In connection with these transactions, our Energy segment recorded a loss on extinguishment of debt of $8 million. Covenants All of our subsidiaries are currently in compliance with all covenants and restrictions as described in the various executed agreements and contracts with respect to each debt instrument. These covenants include limitations on indebtedness, liens, investments, acquisitions, asset sales, dividends and other restricted payments and affiliate and extraordinary transactions. Non-Cash Charges to Interest Expense The amortization of deferred financing costs and debt discounts and premiums included in interest expense in the condensed consolidated statements of operations $1 million for each of the three months ended March 31, 2020 and 2019.

Net Income Per LP Unit

Net Income Per LP Unit	3 Months Ended
Net Income Per LP Unit	Mar. 31, 2020
Earnings Per Unit [Abstract]
Net Income Per LP Unit	11. Net Income Per LP Unit. The components of the computation of basic and diluted income (loss) per LP unit of Icahn Enterprises are as follows: Three Months Ended March 31, 2020 2019 (in millions, except per unit amounts) Net loss attributable to Icahn Enterprises $ (1,384) $ (394) Net loss attributable to Icahn Enterprises allocated to limited partners (98.01% allocation) $ (1,356) $ (386) Basic and diluted loss per LP unit $ (6.34) $ (2.02) Basic and diluted weighted average LP units outstanding 214 191 As their effect would have been anti-dilutive, four million and two million weighted average units have been excluded from the calculation of diluted income per LP unit for the three months ended March 31, 2020 and 2019, respectively. LP Unit Transactions Unit Distributions On February 26, 2020, Icahn Enterprises declared a quarterly distribution in the amount of $2.00 per depositary unit in which each depositary unitholder had the option to make an election to receive either cash or additional depositary units. Because the depositary unitholders had the election to receive the distribution either in cash or additional depositary units, we recorded a unit distribution liability of $428 million as the unit distribution had not been made as of March 31, 2020. In addition, the unit distribution liability, which is included in accrued expenses and other liabilities in the condensed consolidated balance sheets, is considered a potentially dilutive security and is considered in the calculation of diluted income per LP unit as disclosed above. Any difference between the liability recorded and the amount representing the aggregate value of the number of depositary units distributed and cash paid would be charged to equity. On April 28, 2020, Icahn Enterprises distributed an aggregate 123,453 depositary units to unitholders electing to receive depositary units. In connection with this distribution, aggregate cash distributions to all depositary unitholders was $423 million in April 2020, primarily due to Mr. Icahn and his affiliates’ significant ownership of Icahn Enterprises’ depositary units. 2019 At-The-Market Offering On May 2, 2019, Icahn Enterprises announced the commencement of its “at-the-market” offering pursuant to its Open Market Sale Agreement, pursuant to which Icahn Enterprises may sell its depositary units, from time to time, during the term of the program ending on March 31, 2021, for up to $400 million in aggregate sale proceeds. During the three months ended March 31, 2020, Icahn Enterprises sold 107,131, depositary units pursuant to this agreement, resulting in gross proceeds of $7 million. As of March 31, 2020, Icahn Enterprises may sell its depositary units for up to an additional $339 million in aggregate sale proceeds pursuant to this agreement. No assurance can be made that any or all amounts will be sold during the term of the program. 2017 Incentive Plan During the three months ended March 31, 2019, Icahn Enterprises distributed 10,656 depositary units, net of payroll withholdings, with respect to certain restricted depositary units and deferred unit awards that vested during the period in connection with the Icahn Enterprises L.P. 2017 Long Term Incentive Plan (the “2017 Incentive Plan”). There were no distributions during the three months ended March 31, 2020. The aggregate impact of the 2017 Incentive Plan is not material with respect to our condensed consolidated financial statements, including the calculation of potentially dilutive units and diluted income per LP unit.

Segment Reporting

Segment Reporting	3 Months Ended
Segment Reporting	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Reporting	12. Segment Reporting. We report segment information based on the various industries in which our businesses operate and how we manage those businesses in accordance with our investment strategies, which may include: identifying and acquiring undervalued assets and businesses, often through the purchase of distressed securities; increasing value through management, financial or other operational changes; and managing complex legal, regulatory or financial issues, which may include bankruptcy or insolvency, environmental, zoning, permitting and licensing issues. Therefore, although many of our businesses are operated under separate local management, certain of our businesses are grouped together when they operate within a similar industry, comprising similarities in products, customers, production processes and regulatory environments, and when such businesses, when considered together, may be managed in accordance with one or more investment strategies specific to those businesses. Among other measures, we assess and measure segment operating results based on net income from continuing operations attributable to Icahn Enterprises and Icahn Enterprises Holdings. Certain terms of financings for certain of our businesses impose restrictions on the business’ ability to transfer funds to us, including restrictions on dividends, distributions, loans and other transactions. Condensed Statements of Operations Icahn Enterprises’ condensed statements of operations by reporting segment are presented below. Icahn Enterprises Holdings’ condensed statements of operations are substantially the same, with immaterial differences relating to our Holding Company’s interest expense. Three Months Ended March 31, 2020 Investment Energy Automotive Food Packaging Metals Real Estate Home Fashion Mining Holding Company Consolidated (in millions) Revenues: Net sales $ — $ 1,130 $ 492 $ 98 $ 86 $ 4 $ 50 $ — $ — $ 1,860 Other revenues from operations — — 143 — — 18 — — — 161 Net (loss) income from investment activities (1,816) 30 — — — — — — (342) (2,128) Interest and dividend income 52 3 — — — — — — 9 64 Other (loss) income, net (1) (6) 1 (7) — — — — (4) (17) (1,765) 1,157 636 91 86 22 50 — (337) (60) Expenses: Cost of goods sold — 1,250 352 78 85 4 41 — — 1,810 Other expenses from operations — — 123 — — 12 — — — 135 Selling, general and administrative (6) 31 246 12 4 5 11 — 5 308 Restructuring, net — — 2 — — — — — — 2 Interest expense 43 29 5 4 — — — — 90 171 37 1,310 728 94 89 21 52 — 95 2,426 (Loss) income before income tax benefit (1,802) (153) (92) (3) (3) 1 (2) — (432) (2,486) Income tax benefit — 40 19 (1) — — — — 122 180 Net (loss) income (1,802) (113) (73) (4) (3) 1 (2) — (310) (2,306) Less: net loss attributable to non-controlling interests (876) (45) — (1) — — — — — (922) Net (loss) income from continuing operations attributable to Icahn Enterprises $ (926) $ (68) $ (73) $ (3) $ (3) $ 1 $ (2) $ — $ (310) $ (1,384) Supplemental information: Capital expenditures $ — $ 35 $ 9 $ 2 $ 1 $ 4 $ 2 $ — $ — $ 53 Depreciation and amortization $ — $ 80 $ 24 $ 6 $ 5 $ 4 $ 2 $ — $ — $ 121 Three Months Ended March 31, 2019 Investment Energy Automotive Food Packaging Metals Real Estate Home Fashion Mining Holding Company Consolidated (in millions) Revenues: Net sales $ — $ 1,486 $ 550 $ 95 $ 93 $ 2 $ 39 $ 35 $ — $ 2,300 Other revenues from operations — — 143 — — 19 — — — 162 Net loss from investment activities (609) — — — — — — — (65) (674) Interest and dividend income 42 — — — — — — 1 21 64 Other (loss) income, net (1) 1 4 (3) — 2 — — — 3 (568) 1,487 697 92 93 23 39 36 (44) 1,855 Expenses: Cost of goods sold — 1,303 375 75 92 2 33 20 — 1,900 Other expenses from operations — — 119 — — 12 — — — 131 Selling, general and administrative 2 37 252 15 4 5 10 7 4 336 Restructuring, net — — — 7 — — — — — 7 Interest expense 18 26 5 4 — — — 2 84 139 20 1,366 751 101 96 19 43 29 88 2,513 (Loss) income before income tax (expense) benefit (588) 121 (54) (9) (3) 4 (4) 7 (132) (658) Income tax (expense) benefit — (31) 12 4 — — — (1) 10 (6) Net (loss) income (588) 90 (42) (5) (3) 4 (4) 6 (122) (664) Less: net (loss) income attributable to non-controlling interests (293) 24 — (2) — — — 1 — (270) Net (loss) income attributable to Icahn Enterprises $ (295) $ 66 $ (42) $ (3) $ (3) $ 4 $ (4) $ 5 $ (122) $ (394) Supplemental information: Capital expenditures $ — $ 29 $ 13 $ 7 $ 5 $ 6 $ 1 $ 4 $ — $ 65 Depreciation and amortization $ — $ 83 $ 24 $ 6 $ 4 $ 4 $ 2 $ — $ — $ 123 Disaggregation of Revenue In addition to the condensed statements of operations by reporting segment above, we provide additional disaggregated revenue information for and Energy and Automotive segments below. Energy Disaggregated revenue for our Energy segment net sales is presented below: Three Months Ended March 31, 2020 2019 (in millions) Petroleum products $ 1,055 $ 1,394 Nitrogen fertilizer products 75 92 $ 1,130 $ 1,486 Automotive Disaggregated revenue for our Automotive segment net sales and other revenues from operations is presented below: Three Months Ended March 31, 2020 2019 (in millions) Automotive services $ 309 $ 326 Aftermarket parts sales 326 367 $ 635 $ 693 Condensed Balance Sheets Icahn Enterprises’ condensed balance sheets by reporting segment are presented below. Icahn Enterprises Holdings’ condensed balance sheets are substantially the same, with immaterial differences relating to our Holding Company’s debt and equity attributable to Icahn Enterprises Holdings. March 31, 2020 Investment Energy Automotive Food Packaging Metals Real Estate Home Fashion Holding Company Consolidated (in millions) ASSETS Cash and cash equivalents $ 12 $ 805 $ 51 $ 13 $ 1 $ 56 $ 3 $ 1,440 $ 2,381 Cash held at consolidated affiliated partnerships and restricted cash 851 — — 1 6 2 8 8 876 Investments 7,519 249 120 — — 15 — 294 8,197 Accounts receivable, net — 149 138 84 51 12 38 — 472 Inventories, net — 211 1,168 102 26 — 76 — 1,583 Property, plant and equipment, net — 2,866 904 154 118 300 68 6 4,416 Goodwill and intangible assets, net — 253 379 30 10 6 23 — 701 Other assets 4,328 345 565 123 28 130 22 139 5,680 Total assets $ 12,710 $ 4,878 $ 3,325 $ 507 $ 240 $ 521 $ 238 $ 1,887 $ 24,306 LIABILITIES AND EQUITY Accounts payable, accrued expenses and other liabilities $ 3,028 $ 1,082 $ 1,180 $ 197 $ 72 $ 40 $ 66 $ 538 $ 6,203 Securities sold, not yet purchased, at fair value 459 — — — — — — — 459 Debt — 1,691 415 260 17 2 28 5,814 8,227 Total liabilities 3,487 2,773 1,595 457 89 42 94 6,352 14,889 Equity attributable to Icahn Enterprises 4,370 1,187 1,730 39 151 479 144 (4,465) 3,635 Equity attributable to non-controlling interests 4,853 918 — 11 — — — — 5,782 Total equity 9,223 2,105 1,730 50 151 479 144 (4,465) 9,417 Total liabilities and equity $ 12,710 $ 4,878 $ 3,325 $ 507 $ 240 $ 521 $ 238 $ 1,887 $ 24,306 December 31, 2019 Investment Energy Automotive Food Packaging Metals Real Estate Home Fashion Holding Company Consolidated (in millions) ASSETS Cash and cash equivalents $ 11 $ 652 $ 46 $ 22 $ 3 $ 53 $ 1 $ 3,006 $ 3,794 Cash held at consolidated affiliated partnerships and restricted cash 989 — — 1 6 2 7 146 1,151 Investments 9,207 81 120 — — 15 — 522 9,945 Accounts receivable, net — 182 143 78 32 12 36 — 483 Inventories, net — 373 1,215 100 32 — 75 — 1,795 Property, plant and equipment, net — 2,888 916 161 122 299 68 — 4,454 Goodwill and intangible assets, net — 258 382 30 11 8 24 — 713 Other assets 1,076 239 673 125 27 125 20 19 2,304 Total assets $ 11,283 $ 4,673 $ 3,495 $ 517 $ 233 $ 514 $ 231 $ 3,693 $ 24,639 LIABILITIES AND EQUITY Accounts payable, accrued expenses and other liabilities $ 1,310 $ 1,180 $ 1,340 $ 196 $ 70 $ 38 $ 66 $ 115 $ 4,315 Securities sold, not yet purchased, at fair value 1,190 — — — — — — — 1,190 Debt — 1,195 405 268 7 2 18 6,297 8,192 Total liabilities 2,500 2,375 1,745 464 77 40 84 6,412 13,697 Equity attributable to Icahn Enterprises 4,296 1,312 1,750 40 156 474 147 (2,719) 5,456 Equity attributable to non-controlling interests 4,487 986 — 13 — — — — 5,486 Total equity 8,783 2,298 1,750 53 156 474 147 (2,719) 10,942 Total liabilities and equity $ 11,283 $ 4,673 $ 3,495 $ 517 $ 233 $ 514 $ 231 $ 3,693 $ 24,639

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes. For the three months ended March 31, 2020, we recorded an income tax benefit of $180 million on pre-tax loss from continuing operations of $2,486 million compared to an income tax expense of $6 million on pre-tax loss from continuing operations of $658 million for the three months ended March 31, 2019. Our effective income tax rate was 7.2% and (0.9%) for the three months ended March 31, 2020 and 2019, respectively. For the three months ended March 31, 2020, the effective tax rate was lower than the statutory federal rate of 21%, primarily due to partnership loss for which there was no tax benefit, as such loss is allocated to the partners. For the three months ended March 31, 2019, the effective tax rate was lower than the statutory federal rate of 21%, primarily due to partnership income for which there was no tax expense, as such income is allocated to the partners.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	3 Months Ended
Changes in Accumulated Other Comprehensive Loss	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss) Note [Text Block]	14. Changes in Accumulated Other Comprehensive Loss. Changes in accumulated other comprehensive loss consists of the following: Translation Post-Retirement Adjustments, Net Benefits and of Tax Other, Net of Tax Total (in millions) Balance, December 31, 2019 $ (38) $ (50) $ (88) Other comprehensive loss before reclassifications, net of tax (4) — (4) Reclassifications from accumulated other comprehensive loss to earnings, net of tax 1 — 1 Other comprehensive loss, net of tax (3) — (3) Balance, March 31, 2020 $ $ $

Other Income, Net

Other Income, Net	3 Months Ended
Other Income, Net	Mar. 31, 2020
Other Income, Net
Other Income, Net	15. Other Income, Net. Other income, net consists of the following: Three Months Ended March 31, 2020 2019 (in millions) Equity earnings from non-consolidated affiliates $ 2 $ 4 Gain (loss) on disposition of assets, net 1 (4) Foreign currency transaction loss (6) (2) Non-service pension and other post-retirement benefits expense — (1) Loss on extinguishment of debt (12) — Other (2) 6 $ (17) $ 3

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies. Environmental Matters Due to the nature of our business, certain of our subsidiaries’ operations are subject to numerous existing and proposed laws and governmental regulations designed to protect the environment, particularly regarding plant wastes and emissions and solid waste disposal. Our consolidated environmental liabilities were $36 million and $34 million as of March 31, 2020 and December 31, 2019, respectively, primarily within our Metals and Energy segments and which are included in accrued expenses and other liabilities in our condensed consolidated balance sheets. We do not believe that environmental matters will have a material adverse impact on our consolidated results of operations and financial condition. On August 21, 2018, CVR Refining received a letter from the United States Department of Justice (the “DOJ”) on behalf of the Environmental Protection Agency (the “EPA”) and the Kansas Department of Health and Environment (“KDHE”) alleging violations of the Clean Air Act and a 2012 Consent Decree between CVR Refining, the United States (on behalf of the EPA) and KDHE at CVR Energy’s Coffeyville refinery. In April 2020, CVR Refining executed a tolling agreement with the DOJ and KDHE further extending time for negotiation regarding the alleged violations through June 30, 2020. At this time CVR Energy cannot reasonably estimate the potential penalties, costs, fines or other expenditures that may result from this matter or any subsequent enforcement or litigation relating thereto and, therefore, CVR Energy cannot determine if the ultimate outcome of this matter will have a material impact on its financial position, results of operations or cash flows. Renewable Fuel Standards CVR Refining is subject to the Renewable Fuel Standard (“RFS”) of the EPA which requires refiners to either blend renewable fuels in with their transportation fuels or purchase renewable fuel credits, known as RINs, in lieu of blending. CVR Refining is not able to blend the substantial majority of its transportation fuels and has to purchase RINs on the open market and may have to obtain waiver credits for cellulosic biofuels from the EPA, in order to comply with the RFS. For the three months ended March 31, 2020 and 2019, our Energy segment recognized expenses of $19 million and $13 million, respectively, for its compliance with the RFS and which is included in cost of goods sold in the condensed consolidated statements of operations. Our Energy segment’s cost to comply with the RFS includes recognition of its biofuel blending obligation based on the purchased cost of RINs or the fair value of the obligation for which RINs have not been purchased, based on market prices at each reporting date and the valuation change of RINs acquired in excess of CVR Refining’s RFS obligation as of the reporting date. Litigation From time to time, we and our subsidiaries are involved in various lawsuits arising in the normal course of business. We do not believe that such normal routine litigation will have a material effect on our financial condition or results of operations. Energy During 2019, CVR Energy, CVR Refining and its general partner, Icahn Enterprises and certain other affiliates and individuals have each been named in nine lawsuits filed in the Court of Chancery of the State of Delaware by purported former unitholders of CVR Refining, on behalf of themselves and an alleged class of similarly situated unitholders. These lawsuits primarily allege breach of contract, tortious interference and breach of the implied covenant of good faith and fair dealing and seek monetary damages and attorneys’ fees, among other remedies, relating to CVR Energy’s exercise of the call option under the CVR Refining Amended and Restated Agreement of Limited Partnership assigned to it by CVR Refining’s general partner. In January 2020, the court dismissed CVR Holdings and certain former directors of CVR Refining’s general partner from these lawsuits, though permitted some or all of the claims to proceed against each remaining defendant. CVR Energy believes these lawsuits are without merit and intends to vigorously defend against them. These lawsuits remain in the early stages of litigation. Accordingly, CVR Energy cannot determine at this time the outcome of these lawsuits, including whether the outcome of this matter would have a material impact on the its financial position, results of operations, or cash flows. On April 6, 2020, CVR Energy, CVR Refining and its general partner, Icahn Enterprises and certain other affiliates and individuals have each been named in a lawsuit filed in the United States Southern District of New York by purported former unitholders of CVR Refining, on behalf of themselves and an alleged class of similarly situated unitholders. This lawsuit primarily alleges violation of Section 10(b) of the Exchange Act and Rule 10b-5 and violation of Section 20(a) of the Exchange Act, and seeks monetary damages and attorneys’ fees, among other remedies, relating to CVR Energy’s exercise of the call option under the CVR Refining Amended and Restated Agreement of Limited Partnership assigned to it by CVR Refining’s general partner. CVR Energy believes this lawsuit is without merit and intends to vigorously defend against it. This lawsuit remains in the early stages of litigation. Accordingly, CVR Energy cannot determine at this time the outcome of this lawsuit, including whether the outcome of this matter would have a material impact on the its financial position, results of operations, or cash flows. Other Matters Pension Obligations Mr. Icahn, through certain affiliates, owns 100% of Icahn Enterprises GP and approximately 92.0% of Icahn Enterprises’ outstanding depositary units as of March 31, 2020. Applicable pension and tax laws make each member of a “controlled group” of entities, generally defined as entities in which there is at least an 80% common ownership interest, jointly and severally liable for certain pension plan obligations of any member of the controlled group. These pension obligations include ongoing contributions to fund the plan, as well as liability for any unfunded liabilities that may exist at the time the plan is terminated. In addition, the failure to pay these pension obligations when due may result in the creation of liens in favor of the pension plan or the Pension Benefit Guaranty Corporation (the “PBGC”) against the assets of each member of the controlled group. As a result of the more than 80% ownership interest in us by Mr. Icahn’s affiliates, we and our subsidiaries are subject to the pension liabilities of entities in which Mr. Icahn has a direct or indirect ownership interest of at least 80%, which includes the liabilities of pension plans sponsored by ACF. All the minimum funding requirements of the Internal Revenue Code, as amended, and the Employee Retirement Income Security Act of 1974, as amended, for the ACF plans have been met as of March 31, 2020. If the plans were voluntarily terminated, they would be underfunded by approximately $97 million as of March 31, 2020. These results are based on the most recent information provided by the plans’ actuary. These liabilities could increase or decrease, depending on a number of factors, including future changes in benefits, investment returns, and the assumptions used to calculate the liability. As members of the controlled group, we would be liable for any failure of ACF to make ongoing pension contributions or to pay the unfunded liabilities upon a termination of the ACF pension plans. In addition, other entities now or in the future within the controlled group in which we are included may have pension plan obligations that are, or may become, underfunded and we would be liable for any failure of such entities to make ongoing pension contributions or to pay the unfunded liabilities upon termination of such plans. The current underfunded status of the ACF pension plans requires them to notify the PBGC of certain “reportable events,” such as if we cease to be a member of the ACF controlled group, or if we make certain extraordinary dividends or stock redemptions. The obligation to report could cause us to seek to delay or reconsider the occurrence of such reportable events. Starfire Holding Corporation (“Starfire”), which is 99.6% owned by Mr. Icahn, has undertaken to indemnify us and our subsidiaries from losses resulting from any imposition of certain pension funding or termination liabilities that may be imposed on us and our subsidiaries or our assets as a result of being a member of the Icahn controlled group, including ACF. The Starfire indemnity provides, among other things, that so long as such contingent liabilities exist and could be imposed on us, Starfire will not make any distributions to its stockholders that would reduce its net worth to below $250 million. Nonetheless, Starfire may not be able to fund its indemnification obligations to us. Other The U.S. Attorney’s office for the Southern District of New York contacted Icahn Enterprises L.P. in September 2017 seeking production of information pertaining to our and Mr. Icahn’s activities relating to the Renewable Fuels Standard and Mr. Icahn’s former role as an advisor to the President of the United States. We cooperated with the request and provided information in response to the subpoena. The U.S. Attorney’s office for the Southern District of New York contacted Icahn Enterprises L.P. in June 2018 seeking production of information pertaining to trading in Manitowoc Company, Inc. securities. We cooperated with the request and provided documents in response to the subpoena. The U.S. Attorney’s office has not made any claims or allegations against us or Mr. Icahn with respect to either of the foregoing inquiries. We maintain a strong compliance program and, while no assurances can be made, we do not believe these inquiries will have a material impact on our business, financial condition, results of operations or cash flows.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information (Notes)	3 Months Ended
Supplemental Cash Flow Information (Notes)	Mar. 31, 2020
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	17. Supplemental Cash Flow Information. Supplemental cash flow information consists of the following: Three Months Ended March 31, 2020 2019 (in millions) Cash payments for interest, net of amounts capitalized $ (136) $ (157) Cash receipts for income taxes, net of payments 10 2 Non-cash proceeds from sale of investment — 34 Non-cash Investment segment contributions from non-controlling interests 1,240 — Partnership distributions payable (437) (391)

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events. Icahn Enterprises LP Unit Distribution On May 7, 2020, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $2.00 per depositary unit, which will be paid on or about June 25, 2020 to depositary unitholders of record at the close of business on May 19, 2020. Depositary unitholders will have until June 16, 2020 to make an election to receive either cash or additional depositary units; if a unitholder does not make an election, it will automatically be deemed to have elected to receive the distribution in cash. Depositary unitholders who elect to receive additional depositary units will receive units valued at the volume weighted average trading price of the units on NASDAQ during the 5 consecutive trading days ending June 23, 2020. No fractional depositary units will be issued pursuant to the distribution payment. Icahn Enterprises will make a cash payment in lieu of issuing fractional depositary units to any unitholders electing to receive depositary units. Any unitholders that would only be eligible to receive a fraction of a depositary unit based on the above calculation will receive a cash payment.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Consolidation, Policy	Current Economic Conditions In March 2020, the World Health Organization categorized COVID-19 as a pandemic and the President of the United States declared the COVID-19 outbreak a national emergency. The COVID-19 pandemic, and actions taken by governments and others in response thereto, has negatively impacted the global economy, financial markets, and the industries in which our subsidiaries operate. Our consolidated results of operations and financial condition have been impacted primarily by the net declines in fair value of investments held by our Investment segment and the Holding Company (primarily unrealized) as well as declines in the global demand for refined products, especially gasoline, with respect to our Energy segment. The impact on our businesses has also included the acceleration of selective planned store closures in our Automotive segment, lowering current year forecasts across various segments and recording write-downs to inventories. We believe that the current economic conditions will continue to impact our businesses through at least the first half of 2020, and likely through the remainder of the year. The extent and duration of impact on our future results of operations, liquidity and financial condition is uncertain and may be significant. Principles of Consolidation As of March 31, 2020, our condensed consolidated financial statements include the accounts of (i) Icahn Enterprises and Icahn Enterprises Holdings and (ii) the wholly and majority owned subsidiaries of Icahn Enterprises and Icahn Enterprises Holdings, in addition to variable interest entities (“VIEs”) in which we are the primary beneficiary. In evaluating whether we have a controlling financial interest in entities that we consolidate, we consider the following: (1) for voting interest entities, including limited partnerships and similar entities that are not VIEs, we consolidate these entities in which we own a majority of the voting interests; and (2) for VIEs, we consolidate these entities in which we are the primary beneficiary. See below for a discussion of our VIEs. Kick-out rights, which are the rights underlying the limited partners’ ability to dissolve the limited partnership or otherwise remove the general partners, held through voting interests of partnerships and similar entities that are not VIEs are considered the equivalent of the equity interests of corporations that are not VIEs. Except for our Investment segment and Holding Company, for equity investments in which we own 50% or less but greater than 20%, we generally account for such investments using the equity method. All other equity investments are accounted for at fair value.
Reclassifications [Text Block]	Reclassifications Certain reclassifications from the prior year presentation have been made to conform to the current year presentation, which did not have an impact on previously reported net income and equity and are not deemed material.
Consolidation, Variable Interest Entity, Policy [Policy Text Block]	Consolidated Variable Interest Entities The following is a discussion of variable interest entities in which we are deemed to be the primary beneficiary and in which we therefore consolidate. In addition, as discussed in Note 3, “Related Party Transactions,” we have a variable interest in an entity in which we are not the primary beneficiary and therefore we do not consolidate. Icahn Enterprises Holdings We determined that Icahn Enterprises Holdings is a VIE because it is a limited partnership that lacks both substantive kick-out and participating rights. Although Icahn Enterprises is not the general partner of Icahn Enterprises Holdings, Icahn Enterprises is deemed to be the primary beneficiary of Icahn Enterprises Holdings principally based on its 99% limited partner interest in Icahn Enterprises Holdings, as well as our related party relationship with the general partner, and therefore continues to consolidate Icahn Enterprises Holdings. The condensed consolidated financial statements of Icahn Enterprises Holdings are included in this Report. The balances with respect to Icahn Enterprises Holdings’ consolidated VIEs are discussed below, comprising the Investment Funds, CVR Partners and Viskase’s joint venture. Investment We determined that each of the Investment Funds are considered VIEs because these limited partnerships lack both substantive kick-out and participating rights. Because we have a general partner interest in each of the Investment Funds and have significant limited partner interests in each of the Investment Funds, coupled with our significant exposure to losses and benefits in each of the Investment Funds, we are the primary beneficiary of each of the Investment Funds and therefore continue to consolidate each of the Investment Funds. Energy CVR Partners is considered a VIE because it is a limited partnership that lacks both substantive kick-out and participating rights. In addition, CVR Energy also concluded that, based upon its general partner’s roles and rights in CVR Partners as afforded by CVR Partners’ partnership agreement, coupled with its exposure to losses and benefits in CVR Partners through its significant limited partner interest, intercompany credit facilities and services agreements, it is the primary beneficiary of CVR Partners. Food Packaging Viskase holds a variable interest in a joint venture for which Viskase is the primary beneficiary. Viskase’s interest in the joint venture includes a 50% equity interest and also relates to the sales, operations, administrative and financial support to the joint venture through providing many of the assets used in its business.
Fair Value of Financial Instruments, Policy	Fair Value of Financial Instruments The carrying values of cash and cash equivalents, cash held at consolidated affiliated partnerships and restricted cash, accounts receivable, due from brokers, accounts payable, accrued expenses and other liabilities and due to brokers are deemed to be reasonable estimates of their fair values because of their short-term nature. See Note 4, “Investments,” and Note 5, “Fair Value Measurements,” for a detailed discussion of our investments and other non-financial assets and/or liabilities.
Statement of cash flow, policy [Policy Text Block]	Cash Flow Cash and cash equivalents and restricted cash and restricted cash equivalents on our condensed consolidated statements of cash flows is comprised of (i) cash and cash equivalents and (ii) cash held at consolidated affiliated partnerships and restricted cash.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Held at Consolidated Affiliated Partnerships and Restricted Cash Our cash held at consolidated affiliated partnerships balance was $235 million and $86 million as of March 31, 2020 and December 31, 2019, respectively. Cash held at consolidated affiliated partnerships relates to our Investment segment and consists of cash and cash equivalents held by the Investment Funds that, although not legally restricted, are not available to fund the general liquidity needs of the Investment segment or Icahn Enterprises. Our restricted cash balance was $641 million and $1,065 million as of March 31, 2020 and December 31, 2019, respectively. Restricted cash primarily relates to our Investment segment’s cash pledged and held for margin requirements on derivative transactions.

Fair Value Measurements (Polici

Fair Value Measurements (Policies)	3 Months Ended
Fair Value Measurements (Policies)	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Determination of when transfers between fair value levels occurs	In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the investments’, non-financial assets’ and/or liabilities’ level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the investment. Significant transfers, if any, between the levels within the fair value hierarchy are recognized at the beginning of the reporting period when changes in circumstances require such transfers.

Segment Reporting (Policies)

Segment Reporting (Policies)	3 Months Ended
Segment Reporting (Policies)	Mar. 31, 2020
Segment Reporting [Abstract]
Determination of what constitutes a segment	We report segment information based on the various industries in which our businesses operate and how we manage those businesses in accordance with our investment strategies, which may include: identifying and acquiring undervalued assets and businesses, often through the purchase of distressed securities; increasing value through management, financial or other operational changes; and managing complex legal, regulatory or financial issues, which may include bankruptcy or insolvency, environmental, zoning, permitting and licensing issues. Therefore, although many of our businesses are operated under separate local management, certain of our businesses are grouped together when they operate within a similar industry, comprising similarities in products, customers, production processes and regulatory environments, and when such businesses, when considered together, may be managed in accordance with one or more investment strategies specific to those businesses. Among other measures, we assess and measure segment operating results based on net income from continuing operations attributable to Icahn Enterprises and Icahn Enterprises Holdings. Certain terms of financings for certain of our businesses impose restrictions on the business’ ability to transfer funds to us, including restrictions on dividends, distributions, loans and other transactions.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Icahn Enterprises Holdings
Variable Interest Entity [Line Items]
Variable interest entities	March 31, December 31, 2020 2019 (in millions) Cash and cash equivalents $ 61 $ 42 Cash held at consolidated affiliated partnerships and restricted cash 851 989 Investments 7,519 9,207 Due from brokers 1,432 858 Inventories, net 55 48 Property, plant and equipment, net 1,108 1,123 Intangible assets, net 253 258 Other assets 2,936 266 Accounts payable, accrued expenses and other liabilities 197 1,338 Securities sold, not yet purchased, at fair value 459 1,190 Due to brokers 2,938 54 Debt 634 633

Investments (Tables)

Investments (Tables)	3 Months Ended
Investments (Tables)	Mar. 31, 2020
Schedule of Investments [Line Items]
Summary of investments	Voting Fair Value of Gains (Losses) Interests Investment Recognized in Income March 31, March 31, December 31, Three Months Ended March 31, 2020 2020 2019 2020 2019 (in millions) Herbalife Nutrition Ltd. 23.9% $ 1,027 $ 1,343 $ (515) $ (168) Hertz Global Holdings, Inc. 38.9% 342 551 (335) 95 Caesars Entertainment Corporation 16.7% 772 1,243 (595) 26 $ 2,141 $ 3,137 $ (1,445) $ (47)
Investments Financial Information	Three Months Ended March 31, 2020 2019 (in millions) Net sales $ 1,262 $ 1,172 Cost of goods sold 246 242 Net income (loss) 46 96 Net income (loss) attributable to shareholders 46 96
Investment Segment
Schedule of Investments [Line Items]
Investments	March 31, December 31, 2020 2019 (in millions) Assets Investments: Equity securities: Basic materials $ 181 $ 281 Consumer, non-cyclical 1,478 2,085 Consumer, cyclical 1,881 2,427 Energy 1,758 1,717 Technology 2,061 2,425 Industrial 61 127 7,420 9,062 Corporate debt securities 99 145 $ 7,519 $ 9,207 Liabilities Securities sold, not yet purchased, at fair value: Equity securities: Basic materials $ 23 $ 209 Consumer, non-cyclical — 29 Consumer, cyclical 188 379 Energy — 124 Financial 84 152 Technology 138 217 Communication 26 80 $ 459 $ 1,190
Other Segments and Holding Company
Schedule of Investments [Line Items]
Investments	March 31, December 31, 2020 2019 (in millions) Equity method investments $ 199 $ 201 Other investments (measured at fair value) 479 537 $ 678 $ 738

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Assets measured at fair value on a recurring basis	March 31, 2020 December 31, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in millions) Assets Investments (Note 4) $ 7,748 $ 235 $ 3 $ 7,986 $ 9,448 $ 281 $ 3 $ 9,732 Derivative contracts, at fair value (Note 6) — 2,866 — 2,866 — 182 — 182 $ 7,748 $ 3,101 $ 3 $ 10,852 $ 9,448 $ 463 $ 3 $ 9,914 Liabilities Securities sold, not yet purchased (Note 4) $ 459 $ — $ — $ 459 $ 1,190 $ — $ — $ 1,190 Derivative contracts, at fair value (Note 6) — 81 — 81 — 1,224 — 1,224 Other liabilities — 6 6 12 — 7 6 13 $ 459 $ 87 $ 6 $ 552 $ 1,190 $ 1,231 $ 6 $ 2,427
Assets measured at fair value on a recurring basis for which we use Level 3 inputs to determine fair value	Three Months Ended March 31, 2020 2019 (in millions) Balance at January 1 $ 3 $ 372 Net gains recognized in income — 89 Sales — (458) Balance at March 31 $ 3 $ 3

Financial Instruments (Tables)

Financial Instruments (Tables) - Investment Segment	3 Months Ended
Financial Instruments (Tables) - Investment Segment	Mar. 31, 2020
Derivative [Line Items]
Notional exposure of derivative instruments	March 31, 2020 December 31, 2019 Long Notional Exposure Short Notional Exposure Long Notional Exposure Short Notional Exposure (in millions) Primary underlying risk: Equity contracts $ 486 $ 12,402 $ 806 $ 13,113 Credit contracts (1) — 1,934 — 622 (1) The short notional amount on our credit default swap positions was approximately $6.4 billion at March 31, 2020. However, because credit spreads cannot compress below zero , our downside short notional exposure to loss is approximately $1.9 billion as of March 31, 2020. The short notional amount on our credit default swap positions was approximately $4.7 billion as of December 31, 2019. However, because credit spreads cannot compress below zero , our downside short notional exposure to loss is $622 million as of December 31, 2019.
Fair value and income recognized for derivatives not designated as hedging instruments	Asset Derivatives Liability Derivatives March 31, 2020 December 31, 2019 March 31, 2020 December 31, 2019 (in millions) Equity contracts $ 2,421 $ 291 $ 405 $ 1,058 Credit contracts 759 — — 266 Sub-total 3,180 291 405 1,324 Netting across contract types (1) (324) (109) (324) (109) Total (1) $ 2,856 $ 182 $ 81 $ 1,215 (1) Excludes netting of cash collateral received and posted. The total collateral posted at March 31, 2020 and December 31, 2019 was $616 million and $903 million, respectively, across all counterparties, which are included in cash held at consolidated affiliated partnerships and restricted cash in the condensed consolidated balance sheets. The following table presents the amount of gain (loss) recognized in the condensed consolidated statements of operations for our Investment segment’s derivatives not designated as hedging instruments: Gain (Loss) Recognized in Income (1) Three Months Ended March 31, 2020 2019 (in millions) Equity contracts $ 1,468 $ (1,101) Credit contracts 806 (64) Commodity contracts — (14) $ 2,274 $ (1,179) (1) Gains (losses) recognized on derivatives are classified in net gain (loss) from investment activities in our condensed consolidated statements of operations for our Investment segment.

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
Inventories, Net (Tables)	Mar. 31, 2020
Inventory, Net [Abstract]
Inventories, net	March 31, December 31, 2020 2019 (in millions) Raw materials $ 152 $ 206 Work in process 89 94 Finished goods 1,342 1,495 $ 1,583 $ 1,795

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
Goodwill and Intangible Assets, Net (Tables)	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	March 31, 2020 December 31, 2019 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Impairment Value Amount Impairment Value (in millions) Automotive $ 336 $ (87) $ 249 $ 336 $ (87) $ 249 Food Packaging 6 — 6 6 — 6 Metals 4 — 4 4 — 4 Home Fashion 22 — 22 23 — 23 $ 368 $ (87) $ 281 $ 369 $ (87) $ 282
Intangible assets, net	March 31, 2020 December 31, 2019 Gross Net Gross Net Carrying Accumulated Carrying Carrying Accumulated Carrying Amount Amortization Value Amount Amortization Value (in millions) Definite-lived intangible assets: Customer relationships $ 396 $ (160) $ 236 $ 397 $ (155) $ 242 Other 274 (152) 122 274 (147) 127 $ 670 $ (312) $ 358 $ 671 $ (302) $ 369 Indefinite-lived intangible assets $ 62 $ 62 Intangible assets, net $ 420 $ 431

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2020
Leases [Abstract]
Lessee right-of-use assets and liabilities [Table Text Block]	March 31, December 31, 2020 2019 (in millions) Operating Leases: Right-of-use assets (other assets) $ 616 $ 624 Lease liabilities (accrued expenses and other liabilities) 637 647 Financing Leases: Right-of-use assets (property, plant and equipment, net) 74 77 Lease liabilities (debt) 89 93
Operating lease terms and discount rates [Table Text Block]	Right-Of-Use Lease Discount Operating Leases as of March 31, 2020 Assets Liabilities Lease Term Rate (in millions) Energy $ 44 $ 44 3.5 years 5.6% Automotive 492 516 5.0 years 5.7% Food Packaging 32 36 11.6 years 7.4% Other segments and Holding Company 48 41 $ 616 $ 637 Right-Of-Use Lease Discount Operating Leases as of December 31, 2019 Assets Liabilities Lease Term Rate (in millions) Energy $ 48 $ 48 3.7 years 5.6% Automotive 501 527 5.2 years 5.7% Food Packaging 34 38 11.7 years 7.4% Other segments and Holding Company 41 34 $ 624 $ 647

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	March 31, December 31, 2020 2019 (in millions) Holding Company: 5.875% senior unsecured notes due 2022 $ — $ 1,345 6.250% senior unsecured notes due 2022 1,211 1,211 6.750% senior unsecured notes due 2024 499 498 4.750% senior unsecured notes due 2024 1,107 498 6.375% senior unsecured notes due 2025 748 748 6.250% senior unsecured notes due 2026 1,250 1,250 5.250% senior unsecured notes due 2027 999 747 5,814 6,297 Reporting Segments: Energy 1,691 1,195 Automotive 415 405 Food Packaging 260 268 Metals 17 7 Real Estate 2 2 Home Fashion 28 18 2,413 1,895 Total Debt $ 8,227 $ 8,192

Net Income Per LP Unit (Tables)

Net Income Per LP Unit (Tables)	3 Months Ended
Net Income Per LP Unit (Tables)	Mar. 31, 2020
Earnings Per Unit [Abstract]
Net income per LP unit	Three Months Ended March 31, 2020 2019 (in millions, except per unit amounts) Net loss attributable to Icahn Enterprises $ (1,384) $ (394) Net loss attributable to Icahn Enterprises allocated to limited partners (98.01% allocation) $ (1,356) $ (386) Basic and diluted loss per LP unit $ (6.34) $ (2.02) Basic and diluted weighted average LP units outstanding 214 191

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
Segment Reporting (Tables)	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Condensed statements of operations by reporting segment	Three Months Ended March 31, 2020 Investment Energy Automotive Food Packaging Metals Real Estate Home Fashion Mining Holding Company Consolidated (in millions) Revenues: Net sales $ — $ 1,130 $ 492 $ 98 $ 86 $ 4 $ 50 $ — $ — $ 1,860 Other revenues from operations — — 143 — — 18 — — — 161 Net (loss) income from investment activities (1,816) 30 — — — — — — (342) (2,128) Interest and dividend income 52 3 — — — — — — 9 64 Other (loss) income, net (1) (6) 1 (7) — — — — (4) (17) (1,765) 1,157 636 91 86 22 50 — (337) (60) Expenses: Cost of goods sold — 1,250 352 78 85 4 41 — — 1,810 Other expenses from operations — — 123 — — 12 — — — 135 Selling, general and administrative (6) 31 246 12 4 5 11 — 5 308 Restructuring, net — — 2 — — — — — — 2 Interest expense 43 29 5 4 — — — — 90 171 37 1,310 728 94 89 21 52 — 95 2,426 (Loss) income before income tax benefit (1,802) (153) (92) (3) (3) 1 (2) — (432) (2,486) Income tax benefit — 40 19 (1) — — — — 122 180 Net (loss) income (1,802) (113) (73) (4) (3) 1 (2) — (310) (2,306) Less: net loss attributable to non-controlling interests (876) (45) — (1) — — — — — (922) Net (loss) income from continuing operations attributable to Icahn Enterprises $ (926) $ (68) $ (73) $ (3) $ (3) $ 1 $ (2) $ — $ (310) $ (1,384) Supplemental information: Capital expenditures $ — $ 35 $ 9 $ 2 $ 1 $ 4 $ 2 $ — $ — $ 53 Depreciation and amortization $ — $ 80 $ 24 $ 6 $ 5 $ 4 $ 2 $ — $ — $ 121 Three Months Ended March 31, 2019 Investment Energy Automotive Food Packaging Metals Real Estate Home Fashion Mining Holding Company Consolidated (in millions) Revenues: Net sales $ — $ 1,486 $ 550 $ 95 $ 93 $ 2 $ 39 $ 35 $ — $ 2,300 Other revenues from operations — — 143 — — 19 — — — 162 Net loss from investment activities (609) — — — — — — — (65) (674) Interest and dividend income 42 — — — — — — 1 21 64 Other (loss) income, net (1) 1 4 (3) — 2 — — — 3 (568) 1,487 697 92 93 23 39 36 (44) 1,855 Expenses: Cost of goods sold — 1,303 375 75 92 2 33 20 — 1,900 Other expenses from operations — — 119 — — 12 — — — 131 Selling, general and administrative 2 37 252 15 4 5 10 7 4 336 Restructuring, net — — — 7 — — — — — 7 Interest expense 18 26 5 4 — — — 2 84 139 20 1,366 751 101 96 19 43 29 88 2,513 (Loss) income before income tax (expense) benefit (588) 121 (54) (9) (3) 4 (4) 7 (132) (658) Income tax (expense) benefit — (31) 12 4 — — — (1) 10 (6) Net (loss) income (588) 90 (42) (5) (3) 4 (4) 6 (122) (664) Less: net (loss) income attributable to non-controlling interests (293) 24 — (2) — — — 1 — (270) Net (loss) income attributable to Icahn Enterprises $ (295) $ 66 $ (42) $ (3) $ (3) $ 4 $ (4) $ 5 $ (122) $ (394) Supplemental information: Capital expenditures $ — $ 29 $ 13 $ 7 $ 5 $ 6 $ 1 $ 4 $ — $ 65 Depreciation and amortization $ — $ 83 $ 24 $ 6 $ 4 $ 4 $ 2 $ — $ — $ 123
Condensed balance sheets by reporting segment	March 31, 2020 Investment Energy Automotive Food Packaging Metals Real Estate Home Fashion Holding Company Consolidated (in millions) ASSETS Cash and cash equivalents $ 12 $ 805 $ 51 $ 13 $ 1 $ 56 $ 3 $ 1,440 $ 2,381 Cash held at consolidated affiliated partnerships and restricted cash 851 — — 1 6 2 8 8 876 Investments 7,519 249 120 — — 15 — 294 8,197 Accounts receivable, net — 149 138 84 51 12 38 — 472 Inventories, net — 211 1,168 102 26 — 76 — 1,583 Property, plant and equipment, net — 2,866 904 154 118 300 68 6 4,416 Goodwill and intangible assets, net — 253 379 30 10 6 23 — 701 Other assets 4,328 345 565 123 28 130 22 139 5,680 Total assets $ 12,710 $ 4,878 $ 3,325 $ 507 $ 240 $ 521 $ 238 $ 1,887 $ 24,306 LIABILITIES AND EQUITY Accounts payable, accrued expenses and other liabilities $ 3,028 $ 1,082 $ 1,180 $ 197 $ 72 $ 40 $ 66 $ 538 $ 6,203 Securities sold, not yet purchased, at fair value 459 — — — — — — — 459 Debt — 1,691 415 260 17 2 28 5,814 8,227 Total liabilities 3,487 2,773 1,595 457 89 42 94 6,352 14,889 Equity attributable to Icahn Enterprises 4,370 1,187 1,730 39 151 479 144 (4,465) 3,635 Equity attributable to non-controlling interests 4,853 918 — 11 — — — — 5,782 Total equity 9,223 2,105 1,730 50 151 479 144 (4,465) 9,417 Total liabilities and equity $ 12,710 $ 4,878 $ 3,325 $ 507 $ 240 $ 521 $ 238 $ 1,887 $ 24,306 December 31, 2019 Investment Energy Automotive Food Packaging Metals Real Estate Home Fashion Holding Company Consolidated (in millions) ASSETS Cash and cash equivalents $ 11 $ 652 $ 46 $ 22 $ 3 $ 53 $ 1 $ 3,006 $ 3,794 Cash held at consolidated affiliated partnerships and restricted cash 989 — — 1 6 2 7 146 1,151 Investments 9,207 81 120 — — 15 — 522 9,945 Accounts receivable, net — 182 143 78 32 12 36 — 483 Inventories, net — 373 1,215 100 32 — 75 — 1,795 Property, plant and equipment, net — 2,888 916 161 122 299 68 — 4,454 Goodwill and intangible assets, net — 258 382 30 11 8 24 — 713 Other assets 1,076 239 673 125 27 125 20 19 2,304 Total assets $ 11,283 $ 4,673 $ 3,495 $ 517 $ 233 $ 514 $ 231 $ 3,693 $ 24,639 LIABILITIES AND EQUITY Accounts payable, accrued expenses and other liabilities $ 1,310 $ 1,180 $ 1,340 $ 196 $ 70 $ 38 $ 66 $ 115 $ 4,315 Securities sold, not yet purchased, at fair value 1,190 — — — — — — — 1,190 Debt — 1,195 405 268 7 2 18 6,297 8,192 Total liabilities 2,500 2,375 1,745 464 77 40 84 6,412 13,697 Equity attributable to Icahn Enterprises 4,296 1,312 1,750 40 156 474 147 (2,719) 5,456 Equity attributable to non-controlling interests 4,487 986 — 13 — — — — 5,486 Total equity 8,783 2,298 1,750 53 156 474 147 (2,719) 10,942 Total liabilities and equity $ 11,283 $ 4,673 $ 3,495 $ 517 $ 233 $ 514 $ 231 $ 3,693 $ 24,639
Energy Segment
Disaggregation of Revenue [Line Items]
Disaggregation of revenue	Three Months Ended March 31, 2020 2019 (in millions) Petroleum products $ 1,055 $ 1,394 Nitrogen fertilizer products 75 92 $ 1,130 $ 1,486
Automotive Segment
Disaggregation of Revenue [Line Items]
Disaggregation of revenue	Three Months Ended March 31, 2020 2019 (in millions) Automotive services $ 309 $ 326 Aftermarket parts sales 326 367 $ 635 $ 693

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
Changes in Accumulated Other Comprehensive Loss (Tables)	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Translation Post-Retirement Adjustments, Net Benefits and of Tax Other, Net of Tax Total (in millions) Balance, December 31, 2019 $ (38) $ (50) $ (88) Other comprehensive loss before reclassifications, net of tax (4) — (4) Reclassifications from accumulated other comprehensive loss to earnings, net of tax 1 — 1 Other comprehensive loss, net of tax (3) — (3) Balance, March 31, 2020 $ $ $

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
Other Income, Net (Tables)	Mar. 31, 2020
Other Income, Net
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Three Months Ended March 31, 2020 2019 (in millions) Equity earnings from non-consolidated affiliates $ 2 $ 4 Gain (loss) on disposition of assets, net 1 (4) Foreign currency transaction loss (6) (2) Non-service pension and other post-retirement benefits expense — (1) Loss on extinguishment of debt (12) — Other (2) 6 $ (17) $ 3

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
Supplemental Cash Flow Information (Tables)	Mar. 31, 2020
Supplemental Cash Flow Information [Abstract]
Supplemental cash flow information	Three Months Ended March 31, 2020 2019 (in millions) Cash payments for interest, net of amounts capitalized $ (136) $ (157) Cash receipts for income taxes, net of payments 10 2 Non-cash proceeds from sale of investment — 34 Non-cash Investment segment contributions from non-controlling interests 1,240 — Partnership distributions payable (437) (391)

Description of Business (Detail

Description of Business (Details) - USD ($) $ in Millions	Jul. 31, 2019	Jan. 29, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Description of Business [Line Items]
Payments to acquire additional interest in subsidiaries			$ 0	$ 241
Proceeds from sale of investments			$ 0	424
Icahn Enterprises Holdings
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary			99.00%
CVR Refining
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary			34.40%
Viskase
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary			78.60%
Icahn Enterprises Holdings
Description of Business [Line Items]
Payments to acquire additional interest in subsidiaries			$ 0	$ 241
Investment Funds
Description of Business [Line Items]
Fair value of interest in subsidiary			$ 4,400		$ 4,300
Icahn Enterprises G.P.
Description of Business [Line Items]
Aggregate general partner ownership interest of parent and operating subsidiary			1.99%
Icahn Enterprises G.P. \| Icahn Enterprises Holdings
Description of Business [Line Items]
General partner ownership percentage in Icahn Enterprises			1.00%
Mr. Icahn and affiliates \| Icahn Enterprises Holdings
Description of Business [Line Items]
Affiliate ownership interest in Icahn Enterprises			92.00%
Energy Segment \| CVR Refining
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary		3.90%
Energy Segment \| CVR Energy
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary		80.60%	70.80%
Energy Segment \| CVR Refining
Description of Business [Line Items]
Payments to acquire additional interest in subsidiaries		$ 241
Mining Segment \| Ferrous Resources
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary	77.20%

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Accounting policies [Line Items]
Assets	$ 24,306		$ 24,639
Total liabilities	14,889		13,697
Debt	8,227		8,192
Fair value of long-term debt	7,400		7,600
Cash held at consolidated affiliated partnerships and restricted cash	876		1,151
Operating lease right-of-use asset	616		624
Operating lease liability	637		647
Cash held at consolidated affiliated partnerships
Accounting policies [Line Items]
Cash held at consolidated affiliated partnerships and restricted cash	235		86
Restricted cash
Accounting policies [Line Items]
Cash held at consolidated affiliated partnerships and restricted cash	641		1,065
Energy Segment
Accounting policies [Line Items]
Assets	4,878		4,673
Total liabilities	2,773		2,375
Debt	1,691		1,195
Cash held at consolidated affiliated partnerships and restricted cash	0		0
Deferred revenue	38		28
Recorded revenue	6	$ 12
Revenue, remaining performance obligation	10
Revenue, current portion of remaining performance obligation	3
Operating lease right-of-use asset	44		48
Operating lease liability	44		48
Automotive Segment
Accounting policies [Line Items]
Assets	3,325		3,495
Total liabilities	1,595		1,745
Debt	415		405
Cash held at consolidated affiliated partnerships and restricted cash	0		0
Deferred revenue	41		42
Recorded revenue	6	$ 6
Operating lease right-of-use asset	492		501
Operating lease liability	516		527
Real Estate Segment
Accounting policies [Line Items]
Assets	521		514
Total liabilities	42		40
Debt	2		2
Cash held at consolidated affiliated partnerships and restricted cash	2		2
Food Packaging Segment
Accounting policies [Line Items]
Assets	507		517
Total liabilities	457		464
Debt	260		268
Cash held at consolidated affiliated partnerships and restricted cash	1		1
Operating lease right-of-use asset	32		34
Operating lease liability	36		38
Icahn Enterprises Holdings
Accounting policies [Line Items]
Assets	24,306		24,639
Total liabilities	14,892		13,700
Debt	8,230		8,195
Cash held at consolidated affiliated partnerships and restricted cash	876		1,151
Cash and cash equivalents \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Assets	61		42
Cash held at consolidated affiliated partnerships and restricted cash \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Assets	851		989
Investments [Member] \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Assets	7,519		9,207
Due from brokers \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Assets	1,432		858
Inventories, net \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Assets	55		48
Property, plant and equipment, net [Member]
Accounting policies [Line Items]
Financing lease right-of-use asset	74		77
Property, plant and equipment, net [Member] \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Assets	1,108		1,123
Intangible assets, net \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Assets	253		258
Other assets [Member]
Accounting policies [Line Items]
Operating lease right-of-use asset	616		624
Other assets [Member] \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Assets	2,936		266
Accounts payable, accrued expenses and other liabilities \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Total liabilities	197		1,338
Securities sold, not yet purchased, at fair value \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Total liabilities	459		1,190
Due to brokers \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Total liabilities	2,938		54
Debt
Accounting policies [Line Items]
Financing lease liability	89		93
Debt \| Icahn Enterprises Holdings \| Variable Interest Entity, Primary Beneficiary [Member]
Accounting policies [Line Items]
Total liabilities	$ 634		$ 633
Icahn Enterprises Holdings
Accounting policies [Line Items]
Percentage of equity ownership in operating subsidiary	99.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Mr. Icahn and affiliates \| Investment in funds
Related Party Transaction [Line Items]
Amount of transaction with related party	$ 1,241
Related party transaction, balance	$ 4,900		$ 4,500
Percentage fair value of investments in Funds that is attributable to Mr. Icahn	53.00%		51.00%
Consolidated VIE \| Expense sharing arrangement
Related Party Transaction [Line Items]
Amount of transaction with related party	$ (6)	$ 3
Reduction in amount of transaction with related party	8
Hertz (equity method investee) \| Receipts and revenue from related party
Related Party Transaction [Line Items]
Amount of transaction with related party	14	12
Insight Portfolio Group LLC \| Buying group operating expenses
Related Party Transaction [Line Items]
Amount of transaction with related party		1
767 Leasing \| Automotive Segment
Related Party Transaction [Line Items]
Assets at non-consolidated VIE	120		$ 121
Liabilities at non-consolidated VIE	0		$ 1
VIE equity earnings	0	2
Investment in non-consolidated VIE during the period		$ 25
Investment balance in non-consolidated VIE as of end of period period	$ 120

Investments - Investment Segmen

Investments - Investment Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Schedule of Investments [Line Items]
Investments	$ 8,197		$ 9,945
Securities sold, not yet purchased, at fair value	459		1,190
Investment Segment
Schedule of Investments [Line Items]
Investments	7,519		9,207
Securities sold, not yet purchased, at fair value	459		1,190
Unrealized gain (loss) on debt and equity securities still held	(4,170)	$ 558
Investment Segment \| Equity securities:
Schedule of Investments [Line Items]
Investments	7,420		9,062
Investment Segment \| Basic materials
Schedule of Investments [Line Items]
Investments	181		281
Securities sold, not yet purchased, at fair value	23		209
Investment Segment \| Consumer, non-cyclical
Schedule of Investments [Line Items]
Investments	1,478		2,085
Securities sold, not yet purchased, at fair value			29
Investment Segment \| Consumer, cyclical
Schedule of Investments [Line Items]
Investments	1,881		2,427
Securities sold, not yet purchased, at fair value	188		379
Investment Segment \| Energy
Schedule of Investments [Line Items]
Investments	1,758		1,717
Securities sold, not yet purchased, at fair value			124
Investment Segment \| Financial
Schedule of Investments [Line Items]
Securities sold, not yet purchased, at fair value	84		152
Investment Segment \| Technology
Schedule of Investments [Line Items]
Investments	2,061		2,425
Securities sold, not yet purchased, at fair value	138		217
Investment Segment \| Industrial
Schedule of Investments [Line Items]
Investments	61		127
Investment Segment \| Communication
Schedule of Investments [Line Items]
Securities sold, not yet purchased, at fair value	26		80
Investment Segment \| Corporate debt securities
Schedule of Investments [Line Items]
Investments	$ 99		$ 145

Investments - Investment Segm_2

Investments - Investment Segment - Ownership (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Summary of Investment Holdings [Line Items]
Fair value of investments	$ 2,141		$ 3,137
Gains (Losses) Recognized in Income	$ (1,445)	$ (47)
Herbalife
Summary of Investment Holdings [Line Items]
Voting Interests	23.90%
Fair value of investments	$ 1,027		1,343
Gains (Losses) Recognized in Income	$ (515)	(168)
Hertz
Summary of Investment Holdings [Line Items]
Voting Interests	38.90%
Fair value of investments	$ 342		551
Gains (Losses) Recognized in Income	$ (335)	95
Caesars
Summary of Investment Holdings [Line Items]
Voting Interests	16.70%
Fair value of investments	$ 772		$ 1,243
Gains (Losses) Recognized in Income	$ (595)	$ 26

Investments - Investment Segm_3

Investments - Investment Segment - Summarized Financial Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net sales	$ 1,860	$ 2,300
Cost of goods sold	1,810	1,900
Net (loss) income	(2,306)	(664)
Net income (loss) attributable to shareholders	(1,384)	(394)
Herbalife
Net sales	1,262	1,172
Cost of goods sold	246	242
Net (loss) income	46	96
Net income (loss) attributable to shareholders	$ 46	$ 96

Investments - Other Segments an

Investments - Other Segments and Holding Company (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Schedule of Investments [Line Items]
Investments	$ 8,197		$ 9,945
Other Segments and Holding Company
Schedule of Investments [Line Items]
Unrealized gains (losses) that relate to equity securities still held	312	$ 154
Investments	678		738
Other Segments and Holding Company \| Equity method investments
Schedule of Investments [Line Items]
Investments	199		201
Other Segments and Holding Company \| Other investments (measured at fair value)
Schedule of Investments [Line Items]
Investments	$ 479		$ 537

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurement (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Assets [Abstract]
Derivative contracts, at fair value (asset)	$ 2,866	$ 182
Liabilities [Abstract]
Securities sold, not yet purchased, at fair value	459	1,190
Derivative contracts at fair value (liability)	81	1,224
Recurring measurement
Assets [Abstract]
Investments	7,986	9,732
Derivative contracts, at fair value (asset)	2,866	182
Assets, Fair Value Disclosure	10,852	9,914
Liabilities [Abstract]
Securities sold, not yet purchased, at fair value	459	1,190
Other liabilities	12	13
Derivative contracts at fair value (liability)	81	1,224
Financial and Nonfinancial Liabilities, Fair Value Disclosure	552	2,427
Recurring measurement \| Level 1
Assets [Abstract]
Investments	7,748	9,448
Derivative contracts, at fair value (asset)	0	0
Assets, Fair Value Disclosure	7,748	9,448
Liabilities [Abstract]
Securities sold, not yet purchased, at fair value	459	1,190
Other liabilities	0	0
Derivative contracts at fair value (liability)	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	459	1,190
Recurring measurement \| Level 2
Assets [Abstract]
Investments	235	281
Derivative contracts, at fair value (asset)	2,866	182
Assets, Fair Value Disclosure	3,101	463
Liabilities [Abstract]
Securities sold, not yet purchased, at fair value	0	0
Other liabilities	6	7
Derivative contracts at fair value (liability)	81	1,224
Financial and Nonfinancial Liabilities, Fair Value Disclosure	87	1,231
Recurring measurement \| Level 3
Assets [Abstract]
Investments	3	3
Derivative contracts, at fair value (asset)	0	0
Assets, Fair Value Disclosure	3	3
Liabilities [Abstract]
Securities sold, not yet purchased, at fair value	0	0
Other liabilities	6	6
Derivative contracts at fair value (liability)	0	0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 6	$ 6

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Fair Value Level 3 (Details) - Recurring measurement - Level 3 - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, [Roll Forward]
Fair value of assets measured at fair value on a recurring basis	$ 3	$ 3	$ 3	$ 372
Net gains recognized in income	0	89
Sales	$ 0	$ (458)

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) bbl in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)bbl	Dec. 31, 2019USD ($)bbl
Derivative [Line Items]
Derivative contracts, at fair value (asset)	$ 2,866	$ 182
Investment Segment
Derivative [Line Items]
Fair value derivative instruments with credit risk related contingent features in a liability position	$ 0	$ 266
Not designated as hedging instrument \| Commodity contracts not considered probable of settlement \| Energy Segment
Derivative [Line Items]
Volume of derivatives (barrels) \| bbl	4	5
Not designated as hedging instrument \| RINs contracts \| Energy Segment
Derivative [Line Items]
Number of derivatives \| bbl	71	20
Other assets [Member] \| Not designated as hedging instrument \| Investment Segment
Derivative [Line Items]
Asset Derivatives, Gross	$ 3,180	$ 291
Derivative contracts, at fair value (asset)	2,856	182	[1]
Other assets [Member] \| Not designated as hedging instrument \| Energy Segment
Derivative [Line Items]
Asset Derivatives, Gross	14	3
Derivative contracts, at fair value (asset)	$ 10	$ 0

[1]	Excludes netting of cash collateral received and posted. The total collateral posted at March 31, 2020 and December 31, 2019 was $616 million and $903 million, respectively, across all counterparties, which are included in cash held at consolidated affiliated partnerships and restricted cash in the condensed consolidated balance sheets.

Financial Instruments - Derivat

Financial Instruments - Derivative Activities Table (Details) - Investment Segment - USD ($) $ in Millions		Mar. 31, 2020	Dec. 31, 2019
Equity contracts
Derivative [Line Items]
Long Notional Exposure		$ 486	$ 806
Short Notional Exposure		12,402	13,113
Credit contracts
Derivative [Line Items]
Long Notional Exposure	[1]	0	0
Short Notional Exposure	[1]	1,934	622
Credit Default Swap
Derivative [Line Items]
Short notional amount of credit default swap positions		$ 6,400	$ 4,700

[1]	The short notional amount on our credit default swap positions was approximately $6.4 billion at March 31, 2020. However, because credit spreads cannot compress below zero , our downside short notional exposure to loss is approximately $1.9 billion as of March 31, 2020. The short notional amount on our credit default swap positions was approximately $4.7 billion as of December 31, 2019. However, because credit spreads cannot compress below zero , our downside short notional exposure to loss is $622 million as of December 31, 2019.

Financial Instruments - Deriv_2

Financial Instruments - Derivatives Not Designated as Hedging, Fair Value Table (Details) - USD ($) $ in Millions		Mar. 31, 2020		Dec. 31, 2019
Derivatives Not Designated as Hedging Instruments, Fair Value [Line Items]
Derivative contracts, at fair value (asset)		$ 2,866		$ 182
Derivative contracts at fair value (liability)		81		1,224
Investment Segment
Derivatives Not Designated as Hedging Instruments, Fair Value [Line Items]
Collateral for derivative positions		616		903
Investment Segment \| Not designated as hedging instrument \| Other assets [Member]
Derivatives Not Designated as Hedging Instruments, Fair Value [Line Items]
Asset Derivatives, Gross		3,180		291
Netting across contract types	[1]	(324)		(109)
Derivative contracts, at fair value (asset)		2,856		182	[1]
Investment Segment \| Not designated as hedging instrument \| Other assets [Member] \| Equity contracts
Derivatives Not Designated as Hedging Instruments, Fair Value [Line Items]
Asset Derivatives, Gross		2,421		291
Investment Segment \| Not designated as hedging instrument \| Other assets [Member] \| Credit contracts
Derivatives Not Designated as Hedging Instruments, Fair Value [Line Items]
Asset Derivatives, Gross		759
Investment Segment \| Not designated as hedging instrument \| Accrued expenses and other liabilities
Derivatives Not Designated as Hedging Instruments, Fair Value [Line Items]
Liability Derivatives, Gross		405		1,324
Netting across contract types		(324)		(109)
Derivative contracts at fair value (liability)		81	[1]	1,215
Investment Segment \| Not designated as hedging instrument \| Accrued expenses and other liabilities \| Equity contracts
Derivatives Not Designated as Hedging Instruments, Fair Value [Line Items]
Liability Derivatives, Gross		405		1,058
Investment Segment \| Not designated as hedging instrument \| Accrued expenses and other liabilities \| Credit contracts
Derivatives Not Designated as Hedging Instruments, Fair Value [Line Items]
Liability Derivatives, Gross		$ 0		$ 266

[1]	Excludes netting of cash collateral received and posted. The total collateral posted at March 31, 2020 and December 31, 2019 was $616 million and $903 million, respectively, across all counterparties, which are included in cash held at consolidated affiliated partnerships and restricted cash in the condensed consolidated balance sheets.

Financial Instruments - Gain (L

Financial Instruments - Gain (Loss) Recognized on Derivatives Not Designated as Hedging Table (Details) - Not designated as hedging instrument - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Investment Segment \| Net gain from investment activities
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments recognized in income	[1]	$ 2,274	$ (1,179)
Investment Segment \| Net gain from investment activities \| Equity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments recognized in income	[1]	1,468	(1,101)
Investment Segment \| Net gain from investment activities \| Credit contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments recognized in income	[1]	806	(64)
Investment Segment \| Net gain from investment activities \| Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments recognized in income	[1]		(14)
Energy Segment \| Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives not designated as hedging instruments recognized in income	[1]	$ 46	$ 16

[1]	Gains (losses) recognized on derivatives are classified in net gain (loss) from investment activities in our condensed consolidated statements of operations for our Investment segment.

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Millions	3 Months Ended
Inventories, Net (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Inventory, Net [Abstract]
Raw materials	$ 152	$ 206
Work in process	89	94
Finished goods	1,342	1,495
Inventory, net	1,583	$ 1,795
Inventory write-down	$ 58

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net - Goodwill Table (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Gross carrying amount of goodwill	$ 368	$ 369
Accumulated impairment of goodwill	(87)	(87)
Net carrying amount of goodwill	281	282
Automotive Segment
Goodwill [Line Items]
Gross carrying amount of goodwill	336	336
Accumulated impairment of goodwill	(87)	(87)
Net carrying amount of goodwill	249	249
Food Packaging Segment
Goodwill [Line Items]
Gross carrying amount of goodwill	6	6
Accumulated impairment of goodwill	0	0
Net carrying amount of goodwill	6	6
Metals Segment
Goodwill [Line Items]
Gross carrying amount of goodwill	4	4
Accumulated impairment of goodwill	0	0
Net carrying amount of goodwill	4	4
Home Fashion Segment
Goodwill [Line Items]
Gross carrying amount of goodwill	22	23
Accumulated impairment of goodwill	0	0
Net carrying amount of goodwill	$ 22	$ 23

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Definite-lived and Indefinite-lived Intangible Assets Table (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Definite-lived intangible assets: [Abstract]
Gross carrying amount of definite-lived intangible assets	$ 670		$ 671
Accumulated amortization of definite-lived intangible assets	(312)		(302)
Net carrying amount of definite-lived intangible assets	358		369
Net carrying amount of indefinite-lived intangible assets	62		62
Intangible assets, net	420		431
Amortization of intangible assets	11	$ 10
Customer relationships
Definite-lived intangible assets: [Abstract]
Gross carrying amount of definite-lived intangible assets	396		397
Accumulated amortization of definite-lived intangible assets	(160)		(155)
Net carrying amount of definite-lived intangible assets	236		242
Other
Definite-lived intangible assets: [Abstract]
Gross carrying amount of definite-lived intangible assets	274		274
Accumulated amortization of definite-lived intangible assets	(152)		(147)
Net carrying amount of definite-lived intangible assets	$ 122		$ 127

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended
Leases (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	$ 616		$ 624
Operating lease liability	637		647
Operating lease expense	50	$ 49
Amortization of financing lease right-of-use assets	3	4
Interest expense on financing lease liabilities	2	2
Property, plant and equipment, net	4,416		4,454
Energy Segment
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	44		48
Operating lease liability	$ 44		$ 48
Operating lease weighted average lease term, lessee	3 years 6 months		3 years 8 months 12 days
Operating lease weighted average discount rate, lessee (percent)	5.60%		5.60%
Property, plant and equipment, net	$ 2,866		$ 2,888
Automotive Segment
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	492		501
Operating lease liability	$ 516		$ 527
Operating lease weighted average lease term, lessee	5 years		5 years 2 months 12 days
Operating lease weighted average discount rate, lessee (percent)	5.70%		5.70%
Operating lease expense	$ 43	40
Property, plant and equipment, net	904		$ 916
Food Packaging Segment
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	32		34
Operating lease liability	$ 36		$ 38
Operating lease weighted average lease term, lessee	11 years 8 months 12 days		11 years 8 months 12 days
Operating lease weighted average discount rate, lessee (percent)	7.40%		7.40%
Property, plant and equipment, net	$ 154		$ 161
Other Segments and Holding Company
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	48		41
Operating lease liability	41		34
Real Estate Segment
Lessee, Lease, Description [Line Items]
Property, plant and equipment, net	300		299
Operating lease rental revenue	8	$ 8
Assets leased to others \| Real Estate Segment
Lessee, Lease, Description [Line Items]
Property, plant and equipment, net	224		222
Other assets [Member]
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	616		624
Accrued expenses and other liabilities
Lessee, Lease, Description [Line Items]
Operating lease liability	637		647
Property, plant and equipment, net [Member]
Lessee, Lease, Description [Line Items]
Financing lease right-of-use asset	74		77
Debt
Lessee, Lease, Description [Line Items]
Financing lease liability	$ 89		$ 93

Leases - Lease Liability Maturi

Leases - Lease Liability Maturities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Operating lease liability	$ 637	$ 647

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	3 Months Ended
Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Debt	$ 8,227,000		$ 8,192,000
Amortization included in interest expense	1,000	$ 1,000
Holding Company
Debt Instrument [Line Items]
Loss on extinguishment of debt	(4,000)
Debt	5,814,000		6,297,000
Energy Segment
Debt Instrument [Line Items]
Loss on extinguishment of debt	(8,000)
Debt	1,691,000		1,195,000
Automotive Segment
Debt Instrument [Line Items]
Debt	415,000		405,000
Food Packaging Segment
Debt Instrument [Line Items]
Debt	260,000		268,000
Metals Segment
Debt Instrument [Line Items]
Debt	17,000		7,000
Real Estate Segment
Debt Instrument [Line Items]
Debt	2,000		2,000
Home Fashion Segment
Debt Instrument [Line Items]
Debt	28,000		18,000
Reporting Segments
Debt Instrument [Line Items]
Debt	$ 2,413,000		$ 1,895,000
5.875% senior unsecured notes due 2022 \| Holding Company
Debt Instrument [Line Items]
Interest rate on debt issued	5.875%		5.875%
Repayment of senior notes	$ 1,350,000
Debt	$ 0		$ 1,345,000
6.250% senior unsecured notes due 2022 \| Holding Company
Debt Instrument [Line Items]
Interest rate on debt issued	6.25%		6.25%
Debt	$ 1,211,000		$ 1,211,000
6.750% senior unsecured notes due 2024 \| Holding Company
Debt Instrument [Line Items]
Interest rate on debt issued	6.75%		6.75%
Debt	$ 499,000		$ 498,000
4.750% senior unsecured notes due 2024 \| Holding Company
Debt Instrument [Line Items]
Interest rate on debt issued	4.75%		4.75%
Debt	$ 1,107,000		$ 498,000
6.375% senior unsecured notes due 2025 \| Holding Company
Debt Instrument [Line Items]
Interest rate on debt issued	6.375%		6.375%
Debt	$ 748,000		$ 748,000
6.250% senior unsecured notes due 2026 \| Holding Company
Debt Instrument [Line Items]
Face value of debit issued	$ 600,000
Interest rate on debt issued	6.25%		6.25%
Debt	$ 1,250,000		$ 1,250,000
5.250% senior unsecured notes due 2027
Debt Instrument [Line Items]
Face value of debit issued	$ 250,000
5.250% senior unsecured notes due 2027 \| Holding Company
Debt Instrument [Line Items]
Interest rate on debt issued	5.25%		5.25%
Debt	$ 999,000		$ 747,000
5.25% senior unsecured notes due 2025 \| Energy Segment
Debt Instrument [Line Items]
Face value of debit issued	$ 600,000
Interest rate on debt issued	5.25%
5.75% senior unsecured notes due 2028 \| Energy Segment
Debt Instrument [Line Items]
Face value of debit issued	$ 400,000
Interest rate on debt issued	5.75%

Net Income Per LP Unit (Details

Net Income Per LP Unit (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 28, 2020	May 02, 2019	Mar. 31, 2020	Mar. 31, 2019
Earnings Per LP Unit [Line Items]
Net (loss) income attributable to Icahn Enterprises from continuing operations			$ (1,384)	$ (394)
Basic income (loss) per LP unit
Basic income (loss) per LP unit			$ (6.34)	$ (2.02)
Basic weighted average LP units outstanding			214,000,000	191,000,000
Potential aggregate sales proceeds from equity offering		$ 400
LP units sold			107,131
Proceeds from sale of LP units			$ 7
Restricted units vested during period (number of units)				10,656
Limited partners
Earnings Per LP Unit [Line Items]
Net (loss) income attributable to Icahn Enterprises from continuing operations			(1,356)	$ (386)
Basic income (loss) per LP unit
Distribution declared per LP unit	$ 2
Declared unit distribution liability			$ 428
LP units distributed	123,453
Aggregate cash distributions to depositary unitholders	$ 423

Segment Reporting - Condensed S

Segment Reporting - Condensed Statement of Operations By Reporting Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Net sales	$ 1,860	$ 2,300
Other revenues from operations	161	162
Net (loss) gain from investment activities	(2,128)	(674)
Interest and dividend income	64	64
Other (loss) income, net	(17)	3
Revenues	(60)	1,855
Expenses:
Cost of goods sold	1,810	1,900
Other expenses from operations	135	131
Selling, general and administrative	308	336
Restructuring, net	2	7
Interest expense	171	139
Expenses	2,426	2,513
Income (loss) from continuing operations before income tax benefit (expense)	(2,486)	(658)
Income tax benefit (expense)	180	(6)
Net loss	(2,306)	(664)
Less: net income (loss) attributable to non-controlling interests	(922)	(270)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	(1,384)	(394)
Supplemental information:
Capital expenditures	53	65
Depreciation and amortization	121	123
Investment Segment
Revenues:
Net sales	0	0
Other revenues from operations	0	0
Net (loss) gain from investment activities	(1,816)	(609)
Interest and dividend income	52	42
Other (loss) income, net	(1)	(1)
Revenues	(1,765)	(568)
Expenses:
Cost of goods sold	0	0
Other expenses from operations	0	0
Selling, general and administrative	(6)	2
Restructuring, net	0	0
Interest expense	43	18
Expenses	37	20
Income (loss) from continuing operations before income tax benefit (expense)	(1,802)	(588)
Income tax benefit (expense)	0	0
Net loss	(1,802)	(588)
Less: net income (loss) attributable to non-controlling interests	(876)	(293)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	(926)	(295)
Supplemental information:
Capital expenditures	0	0
Depreciation and amortization	0	0
Energy Segment
Revenues:
Net sales	1,130	1,486
Other revenues from operations	0	0
Net (loss) gain from investment activities	30	0
Interest and dividend income	3	0
Other (loss) income, net	(6)	1
Revenues	1,157	1,487
Expenses:
Cost of goods sold	1,250	1,303
Other expenses from operations	0	0
Selling, general and administrative	31	37
Restructuring, net	0	0
Interest expense	29	26
Expenses	1,310	1,366
Income (loss) from continuing operations before income tax benefit (expense)	(153)	121
Income tax benefit (expense)	40	(31)
Net loss	(113)	90
Less: net income (loss) attributable to non-controlling interests	(45)	24
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	(68)	66
Supplemental information:
Capital expenditures	35	29
Depreciation and amortization	80	83
Automotive Segment
Revenues:
Net sales	492	550
Other revenues from operations	143	143
Net (loss) gain from investment activities	0	0
Interest and dividend income	0	0
Other (loss) income, net	1	4
Revenues	636	697
Expenses:
Cost of goods sold	352	375
Other expenses from operations	123	119
Selling, general and administrative	246	252
Restructuring, net	2	0
Interest expense	5	5
Expenses	728	751
Income (loss) from continuing operations before income tax benefit (expense)	(92)	(54)
Income tax benefit (expense)	19	12
Net loss	(73)	(42)
Less: net income (loss) attributable to non-controlling interests	0	0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	(73)	(42)
Supplemental information:
Capital expenditures	9	13
Depreciation and amortization	24	24
Food Packaging Segment
Revenues:
Net sales	98	95
Other revenues from operations	0	0
Net (loss) gain from investment activities	0	0
Interest and dividend income	0	0
Other (loss) income, net	(7)	(3)
Revenues	91	92
Expenses:
Cost of goods sold	78	75
Other expenses from operations	0	0
Selling, general and administrative	12	15
Restructuring, net	0	7
Interest expense	4	4
Expenses	94	101
Income (loss) from continuing operations before income tax benefit (expense)	(3)	(9)
Income tax benefit (expense)	(1)	4
Net loss	(4)	(5)
Less: net income (loss) attributable to non-controlling interests	(1)	(2)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	(3)	(3)
Supplemental information:
Capital expenditures	2	7
Depreciation and amortization	6	6
Metals Segment
Revenues:
Net sales	86	93
Other revenues from operations	0	0
Net (loss) gain from investment activities	0	0
Interest and dividend income	0	0
Other (loss) income, net	0	0
Revenues	86	93
Expenses:
Cost of goods sold	85	92
Other expenses from operations	0	0
Selling, general and administrative	4	4
Restructuring, net	0	0
Interest expense	0	0
Expenses	89	96
Income (loss) from continuing operations before income tax benefit (expense)	(3)	(3)
Income tax benefit (expense)	0	0
Net loss	(3)	(3)
Less: net income (loss) attributable to non-controlling interests	0	0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	(3)	(3)
Supplemental information:
Capital expenditures	1	5
Depreciation and amortization	5	4
Real Estate Segment
Revenues:
Net sales	4	2
Other revenues from operations	18	19
Net (loss) gain from investment activities	0	0
Interest and dividend income	0	0
Other (loss) income, net	0	2
Revenues	22	23
Expenses:
Cost of goods sold	4	2
Other expenses from operations	12	12
Selling, general and administrative	5	5
Restructuring, net	0	0
Interest expense	0	0
Expenses	21	19
Income (loss) from continuing operations before income tax benefit (expense)	1	4
Income tax benefit (expense)	0	0
Net loss	1	4
Less: net income (loss) attributable to non-controlling interests	0	0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	1	4
Supplemental information:
Capital expenditures	4	6
Depreciation and amortization	4	4
Home Fashion Segment
Revenues:
Net sales	50	39
Other revenues from operations	0	0
Net (loss) gain from investment activities	0	0
Interest and dividend income	0	0
Other (loss) income, net	0	0
Revenues	50	39
Expenses:
Cost of goods sold	41	33
Other expenses from operations	0	0
Selling, general and administrative	11	10
Restructuring, net	0	0
Interest expense	0	0
Expenses	52	43
Income (loss) from continuing operations before income tax benefit (expense)	(2)	(4)
Income tax benefit (expense)	0	0
Net loss	(2)	(4)
Less: net income (loss) attributable to non-controlling interests	0	0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	(2)	(4)
Supplemental information:
Capital expenditures	2	1
Depreciation and amortization	2	2
Mining Segment
Revenues:
Net sales	0	35
Other revenues from operations	0	0
Net (loss) gain from investment activities	0	0
Interest and dividend income	0	1
Other (loss) income, net	0	0
Revenues	0	36
Expenses:
Cost of goods sold	0	20
Other expenses from operations	0	0
Selling, general and administrative	0	7
Restructuring, net	0	0
Interest expense	0	2
Expenses	0	29
Income (loss) from continuing operations before income tax benefit (expense)	0	7
Income tax benefit (expense)	0	(1)
Net loss	0	6
Less: net income (loss) attributable to non-controlling interests	0	1
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	0	5
Supplemental information:
Capital expenditures	0	4
Depreciation and amortization	0	0
Holding Company
Revenues:
Net sales	0	0
Other revenues from operations	0	0
Net (loss) gain from investment activities	(342)	(65)
Interest and dividend income	9	21
Other (loss) income, net	(4)	0
Revenues	(337)	(44)
Expenses:
Cost of goods sold	0	0
Other expenses from operations	0	0
Selling, general and administrative	5	4
Restructuring, net	0	0
Interest expense	90	84
Expenses	95	88
Income (loss) from continuing operations before income tax benefit (expense)	(432)	(132)
Income tax benefit (expense)	122	10
Net loss	(310)	(122)
Less: net income (loss) attributable to non-controlling interests	0	0
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent, Total	(310)	(122)
Supplemental information:
Capital expenditures	0	0
Depreciation and amortization	$ 0	$ 0

Segment Reporting - Disaggregat

Segment Reporting - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Energy Segment
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 1,130	$ 1,486
Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	635	693
Petroleum products \| Energy Segment
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,055	1,394
Nitrogen fertilizer products \| Energy Segment
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	75	92
Automotive services \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	309	326
Aftermarket parts sales \| Automotive Segment
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 326	$ 367

Segment Reporting - Condensed B

Segment Reporting - Condensed Balance Sheets By Reporting Segment (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 2,381	$ 3,794
Cash held at consolidated affiliated partnerships and restricted cash	876	1,151
Investments	8,197	9,945
Accounts receivable, net	472	483
Inventories, net	1,583	1,795
Property, plant and equipment, net	4,416	4,454
Goodwill and intangible assets, net	701	713
Other assets	5,680	2,304
Assets	24,306	24,639
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	6,203	4,315
Securities sold, not yet purchased, at fair value	459	1,190
Debt	8,227	8,192
Total liabilities	14,889	13,697
Equity attributable to Icahn Enterprises	3,635	5,456
Equity attributable to non-controlling interests	5,782	5,486
Total equity	9,417	10,942	$ 11,652	$ 12,980
Liabilities and Equity	24,306	24,639
Investment Segment
ASSETS
Cash and cash equivalents	12	11
Cash held at consolidated affiliated partnerships and restricted cash	851	989
Investments	7,519	9,207
Accounts receivable, net	0	0
Inventories, net	0	0
Property, plant and equipment, net	0	0
Goodwill and intangible assets, net	0	0
Other assets	4,328	1,076
Assets	12,710	11,283
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	3,028	1,310
Securities sold, not yet purchased, at fair value	459	1,190
Debt	0	0
Total liabilities	3,487	2,500
Equity attributable to Icahn Enterprises	4,370	4,296
Equity attributable to non-controlling interests	4,853	4,487
Total equity	9,223	8,783
Liabilities and Equity	12,710	11,283
Energy Segment
ASSETS
Cash and cash equivalents	805	652
Cash held at consolidated affiliated partnerships and restricted cash	0	0
Investments	249	81
Accounts receivable, net	149	182
Inventories, net	211	373
Property, plant and equipment, net	2,866	2,888
Goodwill and intangible assets, net	253	258
Other assets	345	239
Assets	4,878	4,673
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	1,082	1,180
Securities sold, not yet purchased, at fair value	0	0
Debt	1,691	1,195
Total liabilities	2,773	2,375
Equity attributable to Icahn Enterprises	1,187	1,312
Equity attributable to non-controlling interests	918	986
Total equity	2,105	2,298
Liabilities and Equity	4,878	4,673
Automotive Segment
ASSETS
Cash and cash equivalents	51	46
Cash held at consolidated affiliated partnerships and restricted cash	0	0
Investments	120	120
Accounts receivable, net	138	143
Inventories, net	1,168	1,215
Property, plant and equipment, net	904	916
Goodwill and intangible assets, net	379	382
Other assets	565	673
Assets	3,325	3,495
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	1,180	1,340
Securities sold, not yet purchased, at fair value	0	0
Debt	415	405
Total liabilities	1,595	1,745
Equity attributable to Icahn Enterprises	1,730	1,750
Equity attributable to non-controlling interests	0	0
Total equity	1,730	1,750
Liabilities and Equity	3,325	3,495
Food Packaging Segment
ASSETS
Cash and cash equivalents	13	22
Cash held at consolidated affiliated partnerships and restricted cash	1	1
Investments	0	0
Accounts receivable, net	84	78
Inventories, net	102	100
Property, plant and equipment, net	154	161
Goodwill and intangible assets, net	30	30
Other assets	123	125
Assets	507	517
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	197	196
Securities sold, not yet purchased, at fair value	0	0
Debt	260	268
Total liabilities	457	464
Equity attributable to Icahn Enterprises	39	40
Equity attributable to non-controlling interests	11	13
Total equity	50	53
Liabilities and Equity	507	517
Metals Segment
ASSETS
Cash and cash equivalents	1	3
Cash held at consolidated affiliated partnerships and restricted cash	6	6
Investments	0	0
Accounts receivable, net	51	32
Inventories, net	26	32
Property, plant and equipment, net	118	122
Goodwill and intangible assets, net	10	11
Other assets	28	27
Assets	240	233
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	72	70
Securities sold, not yet purchased, at fair value	0	0
Debt	17	7
Total liabilities	89	77
Equity attributable to Icahn Enterprises	151	156
Equity attributable to non-controlling interests	0	0
Total equity	151	156
Liabilities and Equity	240	233
Real Estate Segment
ASSETS
Cash and cash equivalents	56	53
Cash held at consolidated affiliated partnerships and restricted cash	2	2
Investments	15	15
Accounts receivable, net	12	12
Inventories, net	0	0
Property, plant and equipment, net	300	299
Goodwill and intangible assets, net	6	8
Other assets	130	125
Assets	521	514
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	40	38
Securities sold, not yet purchased, at fair value	0	0
Debt	2	2
Total liabilities	42	40
Equity attributable to Icahn Enterprises	479	474
Equity attributable to non-controlling interests	0	0
Total equity	479	474
Liabilities and Equity	521	514
Home Fashion Segment
ASSETS
Cash and cash equivalents	3	1
Cash held at consolidated affiliated partnerships and restricted cash	8	7
Investments	0	0
Accounts receivable, net	38	36
Inventories, net	76	75
Property, plant and equipment, net	68	68
Goodwill and intangible assets, net	23	24
Other assets	22	20
Assets	238	231
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	66	66
Securities sold, not yet purchased, at fair value	0	0
Debt	28	18
Total liabilities	94	84
Equity attributable to Icahn Enterprises	144	147
Equity attributable to non-controlling interests	0	0
Total equity	144	147
Liabilities and Equity	238	231
Holding Company
ASSETS
Cash and cash equivalents	1,440	3,006
Cash held at consolidated affiliated partnerships and restricted cash	8	146
Investments	294	522
Accounts receivable, net	0	0
Inventories, net	0	0
Property, plant and equipment, net	6	0
Goodwill and intangible assets, net	0	0
Other assets	139	19
Assets	1,887	3,693
LIABILITIES AND EQUITY
Accounts payable, accrued expenses and other liabilities	538	115
Securities sold, not yet purchased, at fair value	0	0
Debt	5,814	6,297
Total liabilities	6,352	6,412
Equity attributable to Icahn Enterprises	(4,465)	(2,719)
Equity attributable to non-controlling interests	0	0
Total equity	(4,465)	(2,719)
Liabilities and Equity	$ 1,887	$ 3,693

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (180)	$ 6
Income (loss) from continuing operations before income tax benefit (expense)	$ (2,486)	$ (658)
Effective income tax rate	7.20%	(0.90%)
Statutory federal income tax rate	21.00%	21.00%

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
AOCI, Translation adjustments, net of tax			$ (38)
AOCI, Post-retirement benefits and other, net of tax			(50)
Accumulated other comprehensive loss, net of tax			$ (88)
Other comprehensive income (loss), translation adjustments, before reclassification adjustment, net of tax	$ (4)
Other comprehensive income (loss), post-retirement benefits, before reclassification adjustment, net of tax	0
Other comprehensive income (loss), before reclassification adjustment, net of tax	(4)
Other comprehensive income, translation adjustments, gain (loss), reclassification from AOCI, net of tax	1
Other comprehensive income (loss), post-retirement benefits, gain (loss), reclassification adjustment from AOCI, after Tax	0
Other comprehensive income, gain (loss) reclassification adjustment from AOCI, net of tax	1
Other comprehensive loss, translation adjustments, net of tax	(3)	$ (1)
Other comprehensive income (loss), post-retirement benefits, net of tax	0	$ 1
Other comprehensive loss, net of tax	$ (3)

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended
Other Income, Net (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Other Income and Expense, Net [Line Items]
Other income, net	$ (17)	$ 3
Equity earnings from non-consolidated affiliates
Other Income and Expense, Net [Line Items]
Other income, net	2	4
Gain (loss) on disposition of assets, net
Other Income and Expense, Net [Line Items]
Other income, net	1	(4)
Foreign currency transaction loss
Other Income and Expense, Net [Line Items]
Other income, net	(6)	(2)
Non-service pension and other post-retirement benefits expense
Other Income and Expense, Net [Line Items]
Other income, net		(1)
Gain on extinguishment of debt
Other Income and Expense, Net [Line Items]
Other income, net	(12)	0
Other
Other Income and Expense, Net [Line Items]
Other income, net	$ (2)	$ 6

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
ACF
Loss Contingencies [Line Items]
Defined benefit plan underfunded amount	$ 97
Starfire Holding Corporation
Loss Contingencies [Line Items]
Ownership percentage by Mr. Icahn	99.60%
Pension funding indemnity agreement with subsidiary	$ 250
Energy Segment
Loss Contingencies [Line Items]
RINs costs	$ 19	$ 13
Icahn Enterprises G.P. \| Mr. Icahn and affiliates
Loss Contingencies [Line Items]
Affiliate ownership in parent company general partner	100.00%
Accrued expenses and other liabilities
Loss Contingencies [Line Items]
Accrued environmental liabilities	$ 36		$ 34
Icahn Enterprises Holdings \| Mr. Icahn and affiliates
Loss Contingencies [Line Items]
Affiliate ownership interest	92.00%

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental Cash Flow Information [Abstract]
Cash payments for interest, net of amounts capitalized	$ (136)	$ (157)
Net cash payments (receipts) for income taxes, net of refunds	10	2
Non-cash proceeds from sale of investment		34
Non-cash Investment segment contributions from non-controlling interests	1,240
Partnership distributions payable	$ (437)	$ (391)

Subsequent Events (Details)

Subsequent Events (Details)	May 07, 2020$ / shares
Subsequent event
Subsequent Event [Line Items]
Distribution declared per LP unit	$ 2