Icahn Enterprises (IEP) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 08, 2024
Cover page.
Document Type	10-Q
Document Period End Date	Mar. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
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	PH-1
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	422-4100
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		451,194,040
Entity Central Index Key	0000813762
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Quarterly Report	true

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 2,468	$ 2,951
Cash held at consolidated affiliated partnerships and restricted cash	2,565	2,995
Investments	3,315	3,012
Due from brokers	4,321	4,367
Accounts receivable, net	447	485
Related party notes receivable, net	11	11
Inventories	1,039	1,047
Property, plant and equipment, net	3,940	3,969
Deferred tax asset	190	184
Derivative assets, net	24	64
Goodwill	288	288
Intangible assets, net	452	466
Other assets	1,004	1,019
Total Assets	20,064	20,858
LIABILITIES AND EQUITY
Accounts payable	795	830
Accrued expenses and other liabilities	2,044	1,596
Deferred tax liabilities	390	399
Derivative liabilities, net	702	979
Securities sold, not yet purchased, at fair value	3,644	3,473
Due to brokers	256	301
Debt	6,608	7,207
Total liabilities	14,439	14,785
Commitments and contingencies (Note 19)
Equity:
Limited partners: Depositary units: 431,808,850 units issued and outstanding at March 31, 2024 and 429,033,241 units issued and outstanding at December 31, 2023	3,550	3,969
General partner	(769)	(761)
Equity attributable to Icahn Enterprises	2,781	3,208
Equity attributable to non-controlling interests	2,844	2,865
Total equity	5,625	6,073
Total Liabilities and Equity	$ 20,064	$ 20,858

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parentheticals) - shares	Mar. 31, 2024	Dec. 31, 2023
Equity:
Limited partners: Depositary units issued	431,808,850	429,033,241
Limited partners: Depositary units outstanding	431,808,850	429,033,241

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Net sales	$ 2,244	$ 2,758
Other revenues from operations	183	187
Net loss from investment activities	(96)	(443)
Interest and dividend income	143	171
Loss on disposition of assets, net	(6)
Total revenues	2,468	2,673
Expenses:
Cost of goods sold	1,987	2,260
Other expenses from operations	153	158
Selling, general and administrative	193	229
Loss on deconsolidation of subsidiary		226
Interest expense	136	142
Other loss, net	18	32
Total Expenses	2,487	3,047
Loss before income tax (expense) benefit	(19)	(374)
Income tax (expense) benefit	(7)	16
Net loss	(26)	(358)
Less: net income (loss) attributable to non-controlling interests	12	(88)
Net loss attributable to Icahn Enterprises	(38)	(270)
Net loss attributable to Icahn Enterprises allocated to:
Limited partners	(37)	(265)
General partner	(1)	(5)
Net Income (Loss)	$ (38)	$ (270)
Basic loss per LP unit:
Basic loss per LP unit (in dollars per share)	$ (0.09)	$ (0.75)
Basic weighted average LP units outstanding (in shares)	429	354
Diluted loss per LP unit:
Diluted loss per LP unit (in dollars per share)	$ (0.09)	$ (0.75)
Diluted weighted average LP units outstanding (in shares)	429	354
Distributions declared per LP unit (in dollars per share)	$ 1	$ 2

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)
Net loss	$ (26)	$ (358)
Other comprehensive income, net of tax:
Translation adjustments	(2)	4
Other comprehensive income, net of tax	(2)	4
Comprehensive loss	(28)	(354)
Less: Comprehensive income (loss) attributable to non-controlling interests	12	(88)
Comprehensive loss attributable to Icahn Enterprises	(40)	(266)
Comprehensive loss attributable to Icahn Enterprises allocated to:
Limited partners	(39)	(261)
General partner	(1)	(5)
Comprehensive loss attributable to Icahn Enterprises	$ (40)	$ (266)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Millions	General partner Capital Units	Limited partners Capital Units	Total Partners' Equity	Non-controlling Interests	Total
Total equity at Dec. 31, 2022	$ (747)	$ 4,647	$ 3,900	$ 5,658	$ 9,558
Increase (Decrease) in Equity
Net income (loss)	(5)	(265)	(270)	(88)	(358)
Other comprehensive income		4	4		4
Partnership distributions	(15)	(709)	(724)		(724)
Partnership contributions	4	175	179		179
Investment segment contributions from non-controlling interests				(80)	(80)
Dividends and distributions to non-controlling interests in subsidiaries				(85)	(85)
Changes in subsidiary equity and other		2	2		2
Total equity at Mar. 31, 2023	(763)	3,854	3,091	5,405	8,496
Total equity at Dec. 31, 2023	(761)	3,969	3,208	2,865	6,073
Increase (Decrease) in Equity
Net income (loss)	(1)	(37)	(38)	12	(26)
Other comprehensive income		(2)	(2)		(2)
Partnership distributions	(9)	(430)	(439)		(439)
Partnership contributions	1	50	51		51
Investment segment distributions to non-controlling interests				(5)	(5)
Dividends and distributions to non-controlling interests in subsidiaries				(28)	(28)
Changes in subsidiary equity and other	1		1		1
Total equity at Mar. 31, 2024	$ (769)	$ 3,550	$ 2,781	$ 2,844	$ 5,625

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (26)	$ (358)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Net gain from securities transactions	258	196
Purchases of securities	(784)	(380)
Proceeds from sales of securities	660	565
Payments to cover securities sold, not yet purchased	(368)	(1,228)
Proceeds from securities sold, not yet purchased	100	205
Changes in receivables and payables relating to securities transactions	18	655
Changes in derivative assets and liabilities	(237)	366
(Gain) loss on disposition of assets, net	6
Depreciation and amortization	129	122
Loss on deconsolidation of subsidiary		226
Deferred taxes	(16)	(60)
Other, net	12	(19)
Changes in other operating assets and liabilities	(3)	(25)
Net cash (used in) provided by operating activities	(251)	265
Cash flows from investing activities:
Capital expenditures	(68)	(58)
Turnaround expenditures	(12)	(8)
Proceeds from partial sale of interests in consolidated subsidiaries	2
Return of equity method investment	3	19
Other, net		(16)
Net cash (used in) provided by investing activities	(75)	(63)
Cash flows from financing activities:
Investment segment distributions to non-controlling interests	(5)	(82)
Partnership contributions	50	173
Dividends and distributions to non-controlling interests in subsidiaries	(28)	(85)
Proceeds from subsidiary borrowings	7	16
Repayments of subsidiary borrowings	(607)	(19)
Other, net	(4)	(2)
Net cash (used in) provided by financing activities	(587)	1
Net (decrease) increase in cash and cash equivalents and restricted cash and restricted cash equivalents	(913)	203
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period	5,946	4,886
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period	$ 5,033	$ 5,089

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2024
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. References to “we,” “our” or “us” herein include both Icahn Enterprises and Icahn Enterprises Holdings L.P. (“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 Holdings and its subsidiaries own substantially all of our assets and liabilities and conduct substantially all of our operations. Icahn Enterprises G.P. Inc. (“Icahn Enterprises GP”), which is indirectly 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, 2024, representing an aggregate 1.99% general partner interest in Icahn Enterprises and Icahn Enterprises Holdings. Mr. Icahn and his affiliates owned approximately 85% of our outstanding depositary units as of March 31, 2024. 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, Real Estate, Home Fashion and Pharma. We also report the results of our Holding Company, which includes the results of certain subsidiaries of Icahn Enterprises (unless otherwise noted), and investment activity and expenses associated with our Holding Company. See Note 14, “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 family members and 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 $3.2 billion at each of March 31, 2024 and December 31, 2023. 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 marketing businesses as well as in the nitrogen fertilizer manufacturing businesses through its holdings in CVR Partners, LP, a publicly traded limited partnership (“CVR Partners”). CVR Energy is an independent petroleum refiner and marketer of high value transportation fuels primarily in the form of gasoline and diesel fuels, as well as renewable diesel. CVR Partners produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia. CVR Energy holds 100% of the general partner interest and approximately 37% of the outstanding common units of CVR Partners as of March 31, 2024. As of March 31, 2024, we owned approximately 66% of the total outstanding common stock of CVR Energy. Automotive We conduct our Automotive segment through our wholly owned subsidiaries, Icahn Automotive Group LLC (“Icahn Automotive”) and AEP PLC LLC (“AEP PLC”). The Automotive segment is engaged in providing a full range of automotive repair and maintenance services, along with the sale of any installed parts or materials related to automotive services (“Automotive Services”) to its customers, as well as sales of automotive aftermarket parts and retailed merchandise (“Aftermarket Parts”). In addition to its primary businesses, the Automotive segment leases available and excess real estate in certain locations under long-term operating leases. On January 31, 2023, a subsidiary of Icahn Automotive, IEH Auto Parts Holding LLC and its subsidiaries (collectively “Auto Plus”), an aftermarket parts distributor held within our Automotive segment, filed voluntary petitions in the United States Bankruptcy Court. As a result of Auto Plus’s filings for bankruptcy protections on January 31, 2023, we no longer controlled the operations of Auto Plus, therefore, we deconsolidated Auto Plus as of January 31, 2023. See Note 3, “Subsidiary Bankruptcy and Deconsolidation”, for a detailed discussion of the Auto Plus bankruptcy and deconsolidation. 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, 2024, we owned approximately 90% of the total outstanding common stock of Viskase. Real Estate We conduct our Real Estate segment through various wholly owned subsidiaries. Our Real Estate segment consists of investment properties which includes land, retail, office and industrial properties leased to corporate tenants, the development and sale of single-family homes, and the operations of a resort and two country clubs. 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. Pharma We conduct our Pharma segment through our wholly owned subsidiary, Vivus LLC, formerly Vivus, Inc. (“Vivus”). Vivus is a specialty pharmaceutical company with two approved therapies, two product candidates in active clinical development and two product candidates in early stage development. ​ ​

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Basis of Presentation and Summary of Significant Accounting Policies
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 structure and intend to continue structuring our investments 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. Following such events or certain transactions (such as the sale of an operating business), 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, 2023. 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. Principles of Consolidation Our condensed consolidated financial statements include the accounts of (i) Icahn Enterprises and (ii) the wholly and majority owned subsidiaries of Icahn Enterprises, 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. For entities over which the Company does not have significant influence, the Company accounts for its equity investment at fair value, except for the Company’s equity interest in Auto Plus. 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 such equity investments are accounted for at fair value. Consolidated Variable Interest Entities 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. Icahn Enterprises Holdings and its subsidiaries own substantially all of our assets and liabilities and therefore, the balance sheets of Icahn Enterprises and Icahn Enterprises Holdings are substantially the same. During 2023, we established a captive insurance program to supplement the insurance coverage of the officers, directors, employees and agents of the Company, its subsidiaries and our general partner, in addition to our newly established commercial insurance program. We hold assets in a protected cell, which we are the primary beneficiary of, and therefore consolidate the protected cell. At March 31, 2024, total assets related to the protected cell were $104 million and included in restricted cash in the condensed consolidated balance sheet. 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. 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 5, “Investments,” and Note 6, “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, 2024 was approximately $6.6 billion and $6.4 billion, respectively. The carrying value and estimated fair value of our long-term debt as of December 31, 2023 was approximately $7.2 billion and $6.9 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 $791 million and $1,068 million as of March 31, 2024 and December 31, 2023, 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 used for the general operating needs of the Investment segment or Icahn Enterprises. Our restricted cash balance was $1,774 million and $1,927 million as of March 31, 2024 and December 31, 2023, respectively. Restricted cash includes, but is not limited to, our Investment segment’s cash pledged and held for margin requirements on derivative transactions and cash held related to our captive insurance program. 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 and Automotive segment’s leasing revenue, our revenue is generally derived from contracts with customers in accordance with U.S. GAAP. Such revenue from contracts with customers is included in net sales and other revenues from operations in the condensed consolidated statements of operations, however, our Real Estate and Automotive segment’s leasing revenue, as disclosed in Note 11, “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 14, “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 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 revenue is recognized at the point in time in which the customer obtains control of the product. In addition, it includes deferred revenue associated with agreements entered into with third-party investors that has allowed our Energy segment to monetize certain tax credits available under Section 45Q of the Internal Revenue Code (the “45Q Transaction”). Our Energy segment had deferred revenue of $52 million and $49 million as of March 31, 2024 and December 31, 2023, respectively. For the three months ended March 31, 2024 and 2023, our Energy segment recorded revenue of $5 million and $12 million, respectively, with respect to deferred revenue outstanding as of the beginning of each respective period. As of March 31, 2024, our Energy segment had $14 million of remaining performance obligations for contracts with an original expected duration of more than one year. Our Energy segment expects to recognize $4 million of these performance obligations as revenue by the end of 2024, an additional $5 million during 2025, and the remaining balance in 2026. Automotive Our Automotive segment had deferred revenue with respect to extended warranty plans of $43 million and $45 million as of March 31, 2024 and December 31, 2023, respectively, which are included in accrued expenses and other liabilities on the condensed consolidated balance sheets. For the three months ended March 31, 2024 and 2023, our Automotive segment recorded deferred revenue of $6 million and $6 million, respectively, outstanding as of the beginning of each period. Adoption of New Accounting Standards In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, Fair Value Measurement Recently Issued Accounting Standards In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures, In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures .

Subsidiary Bankruptcy and Decon

Subsidiary Bankruptcy and Deconsolidation	3 Months Ended
	Mar. 31, 2024
Subsidiary Bankruptcy and Deconsolidation
Subsidiary Bankruptcy and Deconsolidation	3. Subsidiary Bankruptcy and Deconsolidation ​ On January 31, 2023, Auto Plus, an Aftermarket Parts distributor held within our Automotive segment, filed voluntary petitions (the “Chapter 11 Cases”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) seeking relief under Chapter 11 of Title 11 of the United States Code. On May 2, 2023, the Bankruptcy Court approved a global settlement in the Chapter 11 Cases between Auto Plus, its non-Auto Plus affiliates, and the Official Committee of Unsecured Creditors appointed in the Chapter 11 Cases (the “Committee”) that provides for a guaranteed recovery to unsecured creditors, the payment of all administrative and priority claims in the Chapter 11 Cases, and the resolution of all disputes between Auto Plus, its non-Auto Plus affiliates, and the Committee. On May 19, 2023, the Bankruptcy Court approved five sales of Auto Plus’ assets to five different bidders pursuant to Section 363 of the Bankruptcy Code, comprising a significant majority of Auto Plus’ total assets (the “363 Sales”). AEP PLC was the buyer for one of the 363 Sales, pursuant to a credit bid of $10 million for a portion of its senior secured debtor-in-possession loan to Auto Plus. The last of the 363 Sales closed on June 12, 2023. The proceeds of the 363 Sales have been and will continue to be used to satisfy obligations to Auto Plus’ creditors. On June 16, 2023, the Bankruptcy Court entered an order approving Auto Plus’ Third Amended Combined Disclosure Statement and Joint Plan of Liquidation (the “Bankruptcy Plan”). The effective date of the Bankruptcy Plan occurred on October 6, 2023. The Bankruptcy Plan provides for the orderly liquidation of Auto Plus and distribution of its assets. ​ As a result of the filing of the Chapter 11 Cases, the Company determined that it no longer controls Auto Plus under the criteria set out in FASB ASC Topic 810, “Consolidation” and deconsolidated its investment effective January 31, 2023. In order to deconsolidate Auto Plus, we removed the carrying values of the assets and liabilities of Auto Plus as of January 31, 2023 and recorded our investment in Auto Plus at zero resulting in a non-cash charge of $226 million during the three months ended March 31, 2023. ​

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Related Party Transactions
Related Party Transactions	4. 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 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 As of March 31, 2024 and December 31, 2023, the total fair market value of investments in the Investment Funds made by Mr. Icahn and his affiliates (excluding us and Brett Icahn) was approximately $2.1 billion and $2.1 billion, respectively, representing approximately 39% of the Investment Funds’ assets under management as of each respective date. Mr. Icahn and his affiliates (excluding us and Brett Icahn) made no redemptions from the Investment Funds during the three months ended March 31, 2024, and redeemed $80 million in the three months ended March 31, 2023. 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). Based on an expense-sharing arrangement, certain expenses borne by us are reimbursed by the Investment Funds. For the three months ended March 31, 2024 and 2023, $5 million and $3 million, respectively, was allocated to the Investment Funds based on this expense-sharing arrangement. Auto Plus and AEP PLC As discussed in Note 3. “Subsidiary Bankruptcy and Deconsolidation,” Auto Plus was deconsolidated as of January 31, 2023. Subsequent to January 31, 2023, Auto Plus had certain transactions with entities within our Automotive and Real Estate segments. Agreements and transactions include (i) lease agreements between Auto Plus and entities in the Automotive segment in which Auto Plus is the lessee, (ii) lease agreements between Auto Plus and entities in the Automotive segment in which Auto Plus is the lessor, (iii) auto parts purchases by entities in the Automotive segment from Auto Plus, (iv) auto parts sales from entities within the Automotive segment to Auto Plus, and (v) lease agreements between entities in the Real Estate segment and Auto Plus in which Auto Plus is the lessee. For the two months from the date of deconsolidation of January 31, 2023 through March 31, 2023, the total lease revenues of entities within the Automotive segment from leases with Auto Plus was $2 million. Total inventory purchases of entities within the Automotive segment from Auto Plus were $3 million. For the two months from the date of deconsolidation of January 31, 2023 through March 31, 2023, the total lease revenues of entities within the Real Estate segment from Auto Plus were $2 million. Note Receivable from Auto Plus In connection with the Auto Plus bankruptcy filing, we entered into a priming, senior secured, super priority debtor-in-possession credit facility with Auto Plus (the “DIP Credit Facility”) on January 31, 2023, under which (i) we agreed to provide new loans in an aggregate amount of up to $75 million and (ii) subject to final approval of the DIP Credit Facility by the Bankruptcy Court, all the loans under our pre-petition credit facility with Auto Plus would be rolled-up and converted into loans under the DIP Credit Facility. On May 2, 2023, we converted and rolled up our related party note receivable with our existing loans under the DIP Credit Facility. We estimated our cash to be collected for the repayment of the note receivable to be $11 million at March 31, 2024. ​ AEP PLC In connection with the Auto Plus auction, AEP PLC acquired $10 million of assets mostly comprised of Aftermarket Parts inventory during the year ended December 31, 2023. The transaction was considered an asset acquisition, as the group of assets acquired by AEP PLC does not meet the definition of a business defined in FASB ASC Topic 805. The results of AEP PLC are consolidated within our Automotive segment at March 31, 2024 and were not material. Other Related Party Agreements On October 1, 2020, we entered into a manager agreement with Brett Icahn, the son of Carl C. Icahn, and affiliates of Brett Icahn. Under the manager agreement, Brett Icahn serves as the portfolio manager of a designated portfolio of assets within the Investment Funds over a seven-year term, subject to veto rights by our Investment segment and Carl C. Icahn. On May 5, 2022, we entered into an amendment to the manager agreement, which allows the Investment Funds to add, from time to time, two additional separately tracked portfolios, in addition to the existing portfolios, which will not be subject to the manager agreement. Additionally, Brett Icahn provides certain other services, at our request, which may entail research, analysis and advice with respect to a separate designated portfolio of assets within the Investment Funds. Subject to the terms of the manager agreement, at the end of the seven-year term, Brett Icahn will be entitled to receive a one-time lump sum payment as described in and computed pursuant to the manager agreement. Brett Icahn will not be entitled to receive from us any other compensation (including any salary or bonus) in respect of the services he is to provide under the manager agreement other than restricted depositary units granted under a restricted unit agreement. In accordance with the manager agreement, Brett Icahn will co-invest with the Investment Funds in certain positions, will make cash contributions to the Investment Funds in order to fund such co-investments and will have a special limited partnership interest in the Investment Funds through which the profit and loss attributable to such co-investments will be allocated to him. Brett Icahn had net redemptions of $5 million during the three months ended March 31, 2024, and had no redemptions in the three months ended March 31, 2023. As of March 31, 2024 and December 31, 2023 Brett Icahn had investments in the Investment Funds with a total fair market value of $21 million and $28 million, respectively. We also entered into a guaranty agreement with an affiliate of Brett Icahn, pursuant to which we guaranteed the payment of certain amounts required to be distributed by the Investment Funds to such affiliate pursuant to the terms and conditions of the manager agreement.

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Investments
Investments	5. Investments Investments 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. In addition, our Investment segment has certain derivative transactions which are discussed in Note 7, “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, ​ 2024 2023 ​ ​ (in millions) Assets ​ ​ ​ ​ ​ ​ Investments: ​ ​ Equity securities: ​ ​ Communications ​ $ 12 ​ $ — Consumer, cyclical ​ 281 ​ 260 Energy ​ 781 ​ 708 Utilities ​ 943 ​ 1,012 Healthcare ​ 543 ​ 440 Technology ​ 129 ​ 139 Materials ​ 322 ​ 52 Industrial ​ 132 ​ — ​ ​ 3,143 ​ 2,611 Debt securities: ​ ​ ​ ​ ​ ​ Financials ​ ​ — ​ ​ 158 Real Estate ​ ​ 42 ​ ​ 44 Communications ​ ​ 18 ​ ​ 85 ​ ​ 60 ​ 287 ​ ​ $ 3,203 ​ $ 2,898 Liabilities ​ ​ Securities sold, not yet purchased, at fair value: ​ ​ Equity securities: ​ ​ Consumer, non-cyclical ​ $ 22 ​ $ 41 Consumer, cyclical ​ ​ — ​ ​ 3 Energy ​ 2,536 ​ 2,146 Utilities ​ 436 ​ 610 Materials ​ 309 ​ 350 Industrial ​ ​ 166 ​ ​ 138 ​ ​ ​ 3,469 ​ ​ 3,288 Debt securities: ​ ​ ​ ​ ​ ​ Materials ​ ​ 175 ​ ​ 185 ​ ​ $ 3,644 ​ $ 3,473 ​ ​ ​ ​ ​ ​ ​ ​ The portion of unrealized (losses) and gains that relates to securities still held by our Investment segment, primarily equity securities, was $(339) million and $(208) million for the three months ended March 31, 2024 and 2023, respectively. ​ ​ 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, ​ 2024 2023 ​ ​ (in millions) Equity method investments ​ $ 98 ​ $ 100 Held to maturity debt investments measured at amortized cost ​ ​ 11 ​ ​ 11 Other investments measured at fair value ​ 3 ​ 3 ​ ​ $ 112 ​ $ 114 ​ There were no unrealized gains and (losses) that relates to equity securities still held by our other segments and Holding Company for each of the three months ended March 31, 2024 and 2023.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Measurements
Fair Value Measurements	6. Fair Value Measurements U.S. GAAP requires enhanced disclosures about 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 assets and liabilities at fair value. Market price observability is impacted by a number of factors, including the type of, and the characteristics specific to, the assets and liabilities. Assets and liabilities 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. Assets and 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 assets and 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 assets and liabilities are derived from market observable sources including reported trades, broker/dealer quotes and other pertinent data. Level 3 – Pricing inputs are unobservable for the assets and liabilities and include situations where there is little, if any, market activity for the assets and liabilities. 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 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 assets and liabilities. 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, 2024 ​ December 31, 2023 ​ Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total ​ ​ (in millions) Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investments (Note 5) ​ $ 3,105 ​ $ 60 ​ $ 41 ​ $ 3,206 ​ $ 2,730 ​ $ 129 ​ $ 42 ​ $ 2,901 Derivative assets, net (Note 7) ​ — ​ 24 ​ — ​ 24 ​ — ​ 64 ​ — ​ 64 ​ ​ $ 3,105 ​ $ 84 ​ $ 41 ​ $ 3,230 ​ $ 2,730 ​ $ 193 ​ $ 42 ​ $ 2,965 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities sold, not yet purchased (Note 5) ​ $ 3,469 ​ $ 175 ​ $ — ​ $ 3,644 ​ $ 3,288 ​ $ 185 ​ $ — ​ $ 3,473 Derivative liabilities, net (Note 7) ​ — ​ 702 ​ — ​ 702 ​ — ​ 979 ​ — ​ 979 RFS obligations (Note 18) ​ — ​ 294 ​ — ​ 294 ​ — ​ 329 ​ — ​ 329 ​ ​ $ 3,469 ​ $ 1,171 ​ $ — ​ $ 4,640 ​ $ 3,288 ​ $ 1,493 ​ $ — ​ $ 4,781 ​ ​ A ssets Measured at Fair Value on a Non-Recurring Basis for Which We Use Level 3 Inputs to Determine Fair Value ​ Energy ​ CVR Partners performed a non-recurring fair value measurement of the equity interest received as part of the 45Q Transaction. Such valuation used a combination of the market approach and the discounted cash flow methodology with key inputs including the discount rate, contractual and expected future cash flows, and market multiples. CVR Partners determined the estimated fair value of the consideration received to be $46 million in the first quarter of 2023. ​ Holding Company ​ The estimated fair value of the Company’s note receivable from Auto Plus was measured at January 31, 2023 using the income approach with Level 3 inputs by discounting the forecasted cash inflows associated with the note using an estimated market discount rate. The Company measured the fair value of the related party note using the practical expedient for a collateral-dependent loan in accordance with ASC Topic 326 to determine the allowance based on the fair value of collateral less costs to sell. The collateral for the note primarily consists of cash and accounts receivable. The Company estimated the fair value of the accounts receivable by using an average from a range of expected cash collection projections. We determined the estimated fair value to be $11 million at March 31, 2024.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2024
Financial Instruments
Financial Instruments	7. 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, forwards, 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 their 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 the overnight bank funding 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 in securities, or 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. There were no Investment Funds’ derivative instruments with credit-risk-related contingent features in a liability position as of March 31, 2024 and December 31, 2023. 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, 2024 ​ December 31, 2023 ​ Long Notional Exposure Short Notional Exposure Long Notional Exposure Short Notional Exposure ​ ​ ​ (in millions) Primary underlying risk: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity contracts ​ $ 2,033 ​ $ 2,292 ​ $ 1,882 ​ $ 2,350 Credit contracts (1) ​ — ​ 392 ​ ​ — ​ 435 Commodity contracts ​ — ​ 321 ​ ​ — ​ ​ 409 (1) The short notional amount on our credit default swap positions was approximately $2.4 billion and $2.5 billion at March 31, 2024 and December 31, 2023, respectively. However, because credit spreads cannot compress below zero , our downside short notional exposure to loss is approximately $0.4 billion and $0.4 billion as of March 31, 2024 and December 31, 2023, respectively. 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Assets ​ Derivative Liabilities ​ March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 ​ ​ ​ (in millions) Equity contracts ​ $ 52 ​ $ 11 ​ $ 739 ​ $ 999 Credit contracts ​ 14 ​ 39 ​ 2 ​ 2 Commodity contracts ​ 5 ​ 14 ​ 9 ​ 3 Sub-total ​ 71 ​ 64 ​ 750 ​ 1,004 Netting across contract types (1) ​ (57) ​ (25) ​ (57) ​ (25) Total (1) ​ $ 14 ​ $ 39 ​ $ 693 ​ $ 979 (1) Excludes netting of cash collateral received and posted. The total collateral posted at March 31, 2024 and December 31, 2023 was $1.6 billion and $1.7 billion, 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ Equity contracts $ 236 ​ $ (284) Credit contracts (43) ​ 36 Commodity contracts (30) ​ 1 ​ $ 163 ​ $ (247) (1) Gains (losses) recognized on derivatives are classified in net (loss) gain from investment activities in our condensed consolidated statements of operations for our Investment segment. Energy CVR Energy’s businesses are subject to fluctuations of commodity prices caused by supply and economic conditions, weather, interest rates, and other factors. To manage price risk on crude oil and other inventories and to fix margins on future sales and purchases, CVR Energy from time to time enters into various commodity derivative transactions and holds derivative instruments, such as futures and swaps, which it believes provide an economic hedge on future transactions, but such instruments are not designated as hedge instruments. CVR Energy may enter into forward purchase or sale contracts associated with its feedstocks, expected future gasoline and diesel production and/or renewable identification numbers (“RINs”). As of March 31, 2024 and December 31, 2023, CVR Energy had swap positions for crack spreads of 7 million barrels of refined products, and 11 million barrels outstanding, respectively. As of March 31, 2024 and December 31, 2023, CVR Energy had less than 1 million barrels and no future contracts, respectively. As of March 31, 2024 and December 31, 2023, CVR Energy had forward contracts of 1 million barrels and less than 1 million barrels, respectively. As of March 31, 2024, CVR Energy had open fixed-price commitments to purchase a net 16 million RINs. The following table presents the fair value of our Energy segment’s derivatives and the effect of the collateral netting: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Assets ​ Derivative Liabilities ​ March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 ​ ​ ​ (in millions) Commodity contracts ​ $ 20 ​ $ 31 ​ $ 19 ​ $ 6 Netting across contract types (1) ​ (10) ​ (6) ​ (10) ​ (6) Total (1) ​ $ 10 ​ $ 25 ​ $ 9 ​ $ — ​ (1) Excludes netting of derivatives primarily related to initial margin requirements of $4 million and $13 million at March 31, 2024 and December 31, 2023, respectively, which was not offset against derivatives liabilities, net in the condensed consolidated balance sheets . ​ Certain derivative instruments within our Energy segment contain credit risk-related contingent provisions associated with our Energy segments’ credit ratings. If our Energy segments’ credit rating were to be downgraded, it would allow the counterparty to require our Energy segment to post collateral or to request, immediate, full settlement of derivative instruments in liability positions. As of March 31, 2024, the aggregate fair value of derivative liabilities in our Energy segments’ derivative instruments with credit-risk-related contingent features was $9 million, for which no collateral has been posted. (Losses) gains recognized on derivatives for our Energy segment were $(18) million and $45 million for the three months ended March 31, 2024 and 2023, respectively. Gains and losses recognized on derivatives for our Energy segment are included in cost of goods sold on the condensed consolidated statements of operations.

Related Party Notes Receivable,

Related Party Notes Receivable, Net	3 Months Ended
	Mar. 31, 2024
Related Party Notes Receivable, Net
Related Party Notes Receivable, Net	8. Related Party Notes Receivable, Net Related party notes receivable and its related allowance for expected credit losses consists of the following: ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ ​ ​ ​ Related party notes receivable, gross ​ $ 23 Less: Allowance for expected credit losses ​ ​ 12 Related party notes receivable, net ​ $ 11 ​ ​ ​ ​ Allowance for expected credit losses: ​ ​ ​ Beginning Balance as of December 31, 2023 ​ $ 12 Credit loss provision ​ ​ - Write-offs ​ ​ - Ending Balance as of March 31, 2024 ​ $ 12 ​ There were no write-offs associated with related party notes receivable for the three months ended March 31, 2024 and 2023, respectively. See Note 7, “Financial Instruments,” for additional information related to the fair value of the related party notes receivable.

Inventories, Net

Inventories, Net	3 Months Ended
	Mar. 31, 2024
Inventories, Net
Inventories Net	9. Inventories, Net Inventories, net consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 ​ ​ (in millions) Raw materials ​ $ 345 ​ $ 367 Work in process ​ 110 ​ 95 Finished goods ​ ​ 584 ​ 585 ​ ​ $ 1,039 ​ $ 1,047 ​

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets, Net
Goodwill and Intangible Assets, Net	10. Goodwill and Intangible Assets, Net Goodwill consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ Gross ​ ​ Net Gross ​ ​ Net ​ ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying ​ ​ Amount ​ Impairment ​ Value ​ Amount ​ Impairment ​ Value ​ ​ (in millions) Automotive ​ $ 337 ​ $ (87) $ 250 ​ $ 337 ​ $ (87) $ 250 Food Packaging ​ ​ 6 ​ ​ — ​ ​ 6 ​ ​ 6 ​ ​ — ​ ​ 6 Home Fashion ​ 22 ​ (3) ​ 19 ​ 22 ​ (3) ​ 19 Pharma ​ ​ 13 ​ ​ — ​ ​ 13 ​ ​ 13 ​ ​ — ​ ​ 13 ​ ​ $ 378 ​ $ (90) ​ $ 288 ​ $ 378 ​ $ (90) ​ $ 288 ​ Intangible assets, net consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ Gross ​ ​ Net Gross ​ ​ Net ​ ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying ​ ​ Amount ​ Amortization ​ Value ​ Amount ​ Amortization ​ Value ​ ​ (in millions) Definite-lived intangible assets: ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 392 ​ $ (234) ​ $ 158 ​ $ 392 ​ $ (229) ​ $ 163 Developed technology ​ ​ 254 ​ ​ (97) ​ ​ 157 ​ ​ 254 ​ ​ (90) ​ ​ 164 Other ​ 164 ​ (103) ​ 61 ​ 164 ​ (101) ​ 63 ​ ​ $ 810 ​ $ (434) ​ $ 376 ​ $ 810 ​ $ (420) ​ $ 390 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indefinite-lived intangible assets ​ ​ ​ $ 76 ​ ​ ​ $ 76 Intangible assets, net ​ ​ ​ $ 452 ​ ​ ​ $ 466 ​ Amortization expense associated with definite-lived intangible assets was $14 million and $15 million for the three months ended March 31, 2024 and 2023, respectively. We utilize the straight-line method of amortization, recognized over the estimated useful lives of the assets.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases
Leases	11. 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, ​ ​ 2024 ​ 2023 ​ ​ (in millions) Operating Leases: ​ ​ ​ ​ Right-of-use assets (other assets) ​ $ 513 ​ $ 526 Lease liabilities (accrued expenses and other liabilities) ​ 519 ​ 531 ​ ​ ​ ​ ​ ​ ​ Financing Leases: ​ ​ ​ ​ Right-of-use assets (property, plant and equipment, net) ​ 54 ​ 55 Lease liabilities (debt) ​ 68 ​ 70 ​ Additional information with respect to our operating leases as of March 31, 2024 and December 31, 2023 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, 2024 ​ Assets ​ Liabilities ​ Lease Term ​ Rate ​ ​ (in millions) ​ ​ ​ ​ ​ Energy ​ $ 53 ​ $ 50 ​ 5.3 years ​ 6.8% ​ Automotive ​ 412 ​ 424 5.3 years 5.9% ​ Food Packaging ​ 21 ​ 24 9.0 years 7.4% ​ Other segments and Holding Company ​ 27 ​ 21 ​ ​ ​ $ 513 ​ $ 519 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-Of-Use Lease ​ Discount ​ Operating Leases as of December 31, 2023 ​ Assets ​ Liabilities ​ Lease Term ​ Rate ​ ​ ​ (in millions) ​ ​ ​ ​ ​ Energy ​ $ 53 ​ $ 49 ​ 5.4 years ​ 6.7% ​ Automotive ​ 422 ​ 434 5.4 years 5.9% ​ Food Packaging ​ 22 ​ 25 9.1 years 7.4% ​ Other segments and Holding Company ​ 29 ​ 23 ​ ​ ​ $ 526 ​ $ 531 ​ ​ ​ ​ ​ ​ For the three months ended March 31, 2024 and 2023, lease cost was comprised of (i) operating lease cost of $42 million and $41 million, respectively, (ii) amortization of financing lease right-of-use assets of $2 million and $1 million, respectively, and (iii) interest expense on financing lease liabilities of $2 million and $1 million, respectively. Our Automotive segment accounted for $33 million of total lease cost for each of the three months ended March 31, 2024 and 2023. Lessor Arrangements Automotive Our Automotive segment leases available and excess real estate in certain locations under long-term operating leases. Our Automotive segment’s revenues from operating leases were $15 million and $16 million for the three months ended March 31, 2024 and 2023, respectively. Revenues from operating leases are included in other revenue from operations in the condensed consolidated statements of operations. Our Automotive segment’s expenses from operating leases including variable lease costs were $24 million and $28 million for the three months ended March 31, 2024 and 2023, respectively. Expenses from operating leases are included in other expenses from operations in the condensed consolidated statements of operations. Real Estate Our Real Estate segment leases real estate, primarily commercial properties under long-term operating leases. As of March 31, 2024 and December 31, 2023, our Real Estate segment had assets leased to others included in property, plant and equipment of $255 million and $252 million, respectively, net of accumulated depreciation. Our Real Estate segment’s revenue from operating leases were $3 million and $5 million for the three months ended March 31, 2024 and 2023, respectively. Revenues from operating leases are included in other revenue from operations in the condensed consolidated statements of operations.

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt
Debt	12. Debt Debt consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 ​ ​ (in millions) Holding Company: ​ ​ ​ ​ 6.375% senior unsecured notes due 2025 ​ $ 749 ​ $ 749 6.250% senior unsecured notes due 2026 ​ 1,238 ​ 1,238 5.250% senior unsecured notes due 2027 ​ 1,454 ​ 1,454 4.375% senior unsecured notes due 2029 ​ ​ 708 ​ ​ 708 9.750% senior unsecured notes due 2029 ​ ​ 698 ​ ​ 698 ​ ​ 4,847 ​ 4,847 Reporting Segments: ​ ​ ​ ​ ​ ​ Energy ​ 1,585 ​ 2,185 Automotive ​ 29 ​ 33 Food Packaging ​ 138 ​ 133 Real Estate ​ 1 ​ 1 Home Fashion ​ 8 ​ 8 ​ ​ 1,761 ​ 2,360 Total Debt ​ $ 6,608 ​ $ 7,207 ​ Energy ​ In February 2024, CVR Energy redeemed all its $600 million in aggregate principal amount of 5.25% senior unsecured notes due 2025. As a result of this transaction, CVR Energy recognized a $1 million loss on extinguishment of debt for the three months ended March 31, 2024. ​ As of March 31, 2024, total availability under CVR Energy’s Amended and Restated ABL Credit Agreement (“CVR Energy ABL”) and CVR Partners ABL Credit Agreement (“CVR Partners ABL”) facilities aggregated to $294 million. CVR Energy ABL had $24 million of letters of credit outstanding as of March 31, 2024. The CVR Energy ABL matures on June 30, 2027, and the CVR Partners ABL on September 26, 2028. Covenants We and 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 was less than $1 million for the three months ended March 31, 2024 and 2023.

Net Income (Loss) Per LP Unit

Net Income (Loss) Per LP Unit	3 Months Ended
	Mar. 31, 2024
Net Income (Loss) Per LP Unit
Net Income (Loss) Per LP Unit	13. Net Income (Loss) Per LP Unit The components of the computation of basic and diluted income per LP unit of Icahn Enterprises are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Net loss attributable to Icahn Enterprises ​ $ (38) $ (270) Net loss income attributable to Icahn Enterprises allocated to limited partners (98.01% allocation) ​ $ (37) ​ $ (265) ​ ​ ​ ​ ​ ​ ​ Basic loss per LP unit: ​ $ (0.09) ​ $ (0.75) Basic weighted average LP units outstanding ​ ​ 429 ​ ​ 354 ​ ​ ​ ​ ​ ​ ​ Diluted loss income per LP unit: ​ $ (0.09) ​ $ (0.75) Diluted weighted average LP units outstanding (1) ​ 429 ​ 354 ​ ​ ​ ​ ​ ​ ​ (1) As their effect would have been anti-dilutive, approximately ten million and six million weighted average units have been excluded from the calculation of diluted net income per LP unit for the three months ended March 31, 2024 and 2023, respectively. ​ LP Unit Transactions Unit Distributions On February 26, 2024, we declared a quarterly distribution in the amount of $1.00 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 $439 million as the unit distribution had not been made as of March 31, 2024. 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. In April 2024, we distributed an aggregate At-The-Market Offerings During the three months ended March 31, 2024, we sold 2,775,609 depositary units pursuant to the Open Market Sale Agreement, resulting in gross proceeds of approximately $50 million. As of March 31, 2024, we continue to have an Open Market Sale Agreement and Icahn Enterprises may sell its depositary units for up to an additional $99 million in aggregate gross sale proceeds pursuant to this agreement. Repurchase Authorization On May 9, 2023, the Board of Directors of the General Partner approved a repurchase program which authorizes Icahn Enterprises or affiliates of Icahn Enterprises to repurchase up to an aggregate of $500 million worth of any of our outstanding fixed-rate senior unsecured notes issued by Icahn Enterprises and Icahn Enterprises Finance Corp. and up to an aggregate of $500 million worth of the depositary units issued by Icahn Enterprises (the “Repurchase Program”). The repurchases of senior notes or depositary units may be done for cash from time to time in the open market, through tender offers or in privately negotiated transactions upon such terms and at such prices as management may determine. The authorization of the Repurchase Program is for an indefinite term and does not expire until later terminated by the Board of Directors of Icahn Enterprises GP. As of March 31, 2024, the Company has not repurchased any of the Company’s depositary units and the Company has repurchased

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2024
Segment Reporting
Segment Reporting	14. 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. 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2024 ​ Investment Energy Automotive Food Packaging Real Estate Home Fashion Pharma Holding Company Consolidated ​ ​ (in millions) Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ — ​ $ 1,863 ​ $ 219 ​ $ 101 ​ $ 1 ​ $ 36 ​ $ 24 ​ $ — ​ $ 2,244 Other revenues from operations ​ — ​ — ​ 165 ​ — ​ 17 ​ — ​ 1 ​ — ​ 183 Net loss from investment activities ​ (96) ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ (96) Interest and dividend income ​ 105 ​ 13 ​ 1 ​ — ​ — ​ — ​ — ​ 24 ​ 143 Loss on disposition of assets, net ​ — ​ (1) ​ (5) ​ — ​ — ​ — ​ — ​ — ​ (6) ​ ​ 9 ​ 1,875 ​ 380 ​ 101 ​ 18 ​ 36 ​ 25 ​ 24 ​ 2,468 Expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of goods sold ​ — ​ 1,713 ​ 152 ​ 80 ​ 1 ​ 27 ​ 14 ​ — ​ 1,987 Other expenses from operations ​ — ​ — ​ 139 ​ — ​ 14 ​ — ​ — ​ — ​ 153 Selling, general and administrative ​ 4 ​ 42 ​ 102 ​ 13 ​ 5 ​ 10 ​ 10 ​ 7 ​ 193 Interest expense ​ 25 ​ 33 ​ — ​ 3 ​ — ​ — ​ — ​ 75 ​ 136 Other loss (income), net ​ 20 ​ (4) ​ — ​ 2 ​ — ​ — ​ — ​ — ​ 18 ​ ​ 49 ​ 1,784 ​ 393 ​ 98 ​ 20 ​ 37 ​ 24 ​ 82 ​ 2,487 (Loss) income before income tax (expense) benefit ​ (40) ​ 91 ​ (13) ​ 3 ​ (2) ​ (1) ​ 1 ​ (58) ​ (19) Income tax (expense) benefit ​ — ​ (13) ​ 4 ​ (1) ​ — ​ — ​ — ​ 3 ​ (7) Net (loss) income ​ (40) ​ 78 ​ (9) ​ 2 ​ (2) ​ (1) ​ 1 ​ (55) ​ (26) Less: net (loss) income attributable to non-controlling interests ​ (17) ​ 29 ​ — ​ — ​ — ​ — ​ — ​ — ​ 12 Net (loss) income attributable to Icahn Enterprises ​ $ (23) ​ $ 49 ​ $ (9) ​ $ 2 ​ $ (2) ​ $ (1) ​ $ 1 ​ $ (55) ​ $ (38) Supplemental information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ — ​ $ 47 ​ $ 16 ​ $ 2 ​ $ 2 ​ $ 1 ​ $ — ​ $ — ​ $ 68 Depreciation and amortization ​ $ — ​ $ 92 ​ $ 19 ​ $ 6 ​ $ 3 ​ $ 2 ​ $ 7 ​ $ — ​ $ 129 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2023 ​ Investment Energy Automotive Food Packaging Real Estate Home Fashion Pharma Holding Company Consolidated ​ ​ (in millions) ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ — ​ $ 2,286 ​ $ 287 ​ $ 118 ​ $ 7 ​ $ 40 ​ $ 20 ​ $ — ​ $ 2,758 Other revenues from operations ​ — ​ — ​ 170 ​ — ​ 16 ​ — ​ 1 ​ — ​ 187 Net loss from investment activities ​ (443) ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ (443) Interest and dividend income ​ 144 ​ 5 ​ — ​ — ​ — ​ — ​ — ​ 22 ​ 171 ​ ​ (299) ​ 2,291 ​ 457 ​ 118 ​ 23 ​ 40 ​ 21 ​ 22 ​ 2,673 Expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of goods sold ​ — ​ 1,926 ​ 193 ​ 91 ​ 6 ​ 32 ​ 12 ​ — ​ 2,260 Other expenses from operations ​ — ​ — ​ 145 ​ — ​ 13 ​ — ​ — ​ — ​ 158 Selling, general and administrative ​ 3 ​ 46 ​ 132 ​ 14 ​ 4 ​ 10 ​ 13 ​ 7 ​ 229 Loss on deconsolidation of subsidiary ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 226 ​ ​ 226 Interest expense ​ 45 ​ 23 ​ — ​ 3 ​ — ​ — ​ — ​ 71 ​ 142 Other loss (income), net ​ 28 ​ (3) ​ — ​ 7 ​ — ​ — ​ — ​ — ​ 32 ​ ​ 76 ​ 1,992 ​ 470 ​ 115 ​ 23 ​ 42 ​ 25 ​ 304 ​ 3,047 (Loss) income before income tax (expense) benefit ​ (375) ​ 299 ​ (13) ​ 3 ​ — ​ (2) ​ (4) ​ (282) ​ (374) Income tax (expense) benefit ​ — ​ (52) ​ — ​ 4 ​ — ​ — ​ — ​ 64 ​ 16 Net (loss) income ​ (375) ​ 247 ​ (13) ​ 7 ​ — ​ (2) ​ (4) ​ (218) ​ (358) Less: net (loss) income attributable to non-controlling interests ​ (204) ​ 115 ​ — ​ 1 ​ — ​ — ​ — ​ — ​ (88) Net (loss) income attributable to Icahn Enterprises ​ $ (171) ​ $ 132 ​ $ (13) ​ $ 6 ​ $ — ​ $ (2) ​ $ (4) ​ $ (218) ​ $ (270) Supplemental information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ — ​ $ 44 ​ $ 10 ​ $ 2 ​ $ 2 ​ $ — ​ $ — ​ $ — ​ $ 58 Depreciation and amortization ​ $ — ​ $ 84 ​ $ 19 ​ $ 7 ​ $ 3 ​ $ 2 ​ $ 7 ​ $ — ​ $ 122 ​ ​ Disaggregation of Revenue In addition to the condensed statements of operations by reporting segment above, we provide additional disaggregated revenue information for our Energy and Automotive segments below. Energy ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Petroleum products ​ $ 1,735 ​ $ 2,060 Nitrogen fertilizer products ​ 128 ​ 226 ​ ​ $ 1,863 ​ $ 2,286 ​ Automotive ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Automotive Services ​ $ 356 ​ $ 369 Aftermarket Parts ​ 13 ​ 72 Total revenue from customers ​ ​ 369 ​ ​ 441 Lease revenue outside the scope of ASC 606 ​ ​ 15 ​ ​ 16 Total Automotive net sales and other revenues from operations ​ $ 384 ​ $ 457 ​ Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ ​ Investment ​ Energy ​ Automotive ​ Food Packaging ​ Real Estate ​ Home Fashion ​ Pharma ​ Holding Company ​ Consolidated ​ ​ (in millions) ASSETS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 6 ​ $ 644 ​ $ 64 ​ $ 7 ​ $ 33 ​ $ 4 ​ $ 18 ​ $ 1,692 ​ $ 2,468 Cash held at consolidated affiliated partnerships and restricted cash ​ 2,379 ​ — ​ 8 ​ — ​ 4 ​ 3 ​ — ​ 171 ​ 2,565 Investments ​ 3,203 ​ 98 ​ — ​ — ​ 14 ​ — ​ — ​ — ​ 3,315 Accounts receivable, net ​ — ​ 253 ​ 41 ​ 85 ​ 16 ​ 22 ​ 30 ​ — ​ 447 Inventories, net ​ — ​ 601 ​ 213 ​ 118 ​ — ​ 85 ​ 22 ​ — ​ 1,039 Related party notes receivable, net ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 11 ​ ​ 11 Property, plant and equipment, net ​ — ​ 2,572 ​ 822 ​ 129 ​ 363 ​ 50 ​ — ​ 4 ​ 3,940 Goodwill and intangible assets, net ​ — ​ 174 ​ 333 ​ 23 ​ — ​ 19 ​ 191 ​ — ​ 740 Other assets ​ 4,352 ​ 287 ​ 477 ​ 98 ​ 71 ​ 20 ​ 7 ​ 227 ​ 5,539 Total assets ​ $ 9,940 ​ $ 4,629 ​ $ 1,958 ​ $ 460 ​ $ 501 ​ $ 203 ​ $ 268 ​ $ 2,105 ​ $ 20,064 LIABILITIES AND EQUITY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable, accrued expenses and other liabilities ​ $ 999 ​ $ 1,506 ​ $ 840 ​ $ 136 ​ $ 55 ​ $ 44 ​ $ 54 ​ $ 553 ​ $ 4,187 Securities sold, not yet purchased, at fair value ​ 3,644 ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 3,644 Debt ​ — ​ 1,585 ​ 29 ​ 138 ​ 1 ​ 8 ​ — ​ 4,847 ​ 6,608 Total liabilities ​ 4,643 ​ 3,091 ​ 869 ​ 274 ​ 56 ​ 52 ​ 54 ​ 5,400 ​ 14,439 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity attributable to Icahn Enterprises ​ 3,202 ​ 811 ​ 1,089 ​ 169 ​ 440 ​ 151 ​ 214 ​ (3,295) ​ 2,781 Equity attributable to non-controlling interests ​ 2,095 ​ 727 ​ — ​ 17 ​ 5 ​ — ​ — ​ — ​ 2,844 Total equity ​ 5,297 ​ 1,538 ​ 1,089 ​ 186 ​ 445 ​ 151 ​ 214 ​ (3,295) ​ 5,625 Total liabilities and equity ​ $ 9,940 ​ $ 4,629 ​ $ 1,958 ​ $ 460 ​ $ 501 ​ $ 203 ​ $ 268 ​ $ 2,105 ​ $ 20,064 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Investment ​ Energy ​ Automotive ​ Food Packaging ​ Real Estate ​ Home Fashion ​ Pharma ​ Holding Company ​ Consolidated ​ ​ (in millions) ASSETS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 23 ​ $ 1,179 ​ $ 104 ​ $ 8 ​ $ 22 ​ $ 5 ​ $ 26 ​ $ 1,584 ​ $ 2,951 Cash held at consolidated affiliated partnerships and restricted cash ​ 2,799 ​ 7 ​ 9 ​ — ​ 4 ​ 3 ​ — ​ 173 ​ 2,995 Investments ​ 2,898 ​ 100 ​ — ​ — ​ 14 ​ — ​ — ​ — ​ 3,012 Accounts receivable, net ​ — ​ 286 ​ 41 ​ 89 ​ 16 ​ 26 ​ 27 ​ — ​ 485 Related party note receivable, net ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 11 ​ ​ 11 Inventories, net ​ — ​ 604 ​ 228 ​ 111 ​ — ​ 81 ​ 23 ​ — ​ 1,047 Property, plant and equipment, net ​ — ​ 2,594 ​ 822 ​ 134 ​ 363 ​ 52 ​ — ​ 4 ​ 3,969 Goodwill and intangible assets, net ​ — ​ 179 ​ 335 ​ 23 ​ — ​ 19 ​ 198 ​ — ​ 754 Other assets ​ 4,425 ​ 310 ​ 480 ​ 101 ​ 69 ​ 17 ​ 8 ​ 224 ​ 5,634 Total assets ​ $ 10,145 ​ $ 5,259 ​ $ 2,019 ​ $ 466 ​ $ 488 ​ $ 203 ​ $ 282 ​ $ 1,996 ​ $ 20,858 LIABILITIES AND EQUITY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable, accrued expenses and other liabilities ​ $ 1,312 ​ $ 1,553 ​ $ 890 ​ $ 148 ​ $ 43 ​ $ 42 ​ $ 55 ​ $ 62 ​ $ 4,105 Securities sold, not yet purchased, at fair value ​ 3,473 ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 3,473 Debt ​ — ​ 2,185 ​ 33 ​ 133 ​ 1 ​ 8 ​ — ​ 4,847 ​ 7,207 Total liabilities ​ 4,785 ​ 3,738 ​ 923 ​ 281 ​ 44 ​ 50 ​ 55 ​ 4,909 ​ 14,785 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity attributable to Icahn Enterprises ​ 3,243 ​ 795 ​ 1,096 ​ 168 ​ 439 ​ 153 ​ 227 ​ (2,913) ​ 3,208 Equity attributable to non-controlling interests ​ 2,117 ​ 726 ​ — ​ 17 ​ 5 ​ — ​ — ​ — ​ 2,865 Total equity ​ 5,360 ​ 1,521 ​ 1,096 ​ 185 ​ 444 ​ 153 ​ 227 ​ (2,913) ​ 6,073 Total liabilities and equity ​ $ 10,145 ​ $ 5,259 ​ $ 2,019 ​ $ 466 ​ $ 488 ​ $ 203 ​ $ 282 ​ $ 1,996 ​ $ 20,858 ​

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Taxes
Income Taxes	​ 15. Income Taxes For the three months ended March 31, 2024, we recorded an income tax expense of $7 million on pre-tax loss of $19 million compared to an income tax benefit of $16 million on pre-tax loss of $374 million for the three months ended March 31, 2023. Our effective income tax rate was (40.8%) and 4.3% for the three months ended March 31, 2024 and 2023, respectively. For the three months ended March 31, 2024, the effective tax rate was lower than the statutory federal rate of 21%, for corporations, primarily due to partnership loss for which there was no tax benefit as such losses are allocated to the partners. For the three months ended March 31, 2023, the effective tax rate was lower than the statutory federal rate of 21%, for corporations, primarily due to partnership loss for which there was no tax expense, as such losses are allocated to the partners and from changes in the valuation allowance.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2024
Changes in Accumulated Other Comprehensive Loss
Changes in Accumulated Other Comprehensive Loss	16. Changes in Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Translation ​ Post-Retirement ​ ​ ​ ​ ​ Adjustments, Net ​ Benefits, Net ​ ​ ​ ​ of Tax of Tax Total ​ ​ (in millions) Balance, December 31, 2023 ​ $ (33) ​ $ (22) ​ $ (55) Other comprehensive loss before reclassifications, net of tax ​ (2) ​ — ​ (2) Other comprehensive loss, net of tax ​ (2) ​ — ​ (2) Balance, March 31, 2024 ​ $ (35) ​ $ (22) ​ $ (57) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Translation ​ Post-Retirement ​ ​ ​ ​ ​ Adjustments, Net ​ Benefits, Net ​ ​ ​ ​ of Tax of Tax Total ​ ​ (in millions) Balance, December 31, 2022 ​ $ (45) ​ $ (25) ​ $ (70) Other comprehensive loss before reclassifications, net of tax ​ 4 ​ — ​ 4 Other comprehensive loss, net of tax ​ 4 ​ — ​ 4 Balance, March 31, 2023 ​ $ (41) ​ $ (25) ​ $ (66) ​

Other Loss, Net

Other Loss, Net	3 Months Ended
	Mar. 31, 2024
Other Loss, Net
Other Loss, Net	17. Other Loss, Net Other loss, net consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Dividend expense ​ $ (20) ​ $ (28) Equity earnings from non-consolidated affiliates ​ ​ 4 ​ ​ 2 Other ​ (2) ​ (6) ​ ​ $ (18) ​ $ (32) ​

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies.
Commitments and Contingencies	18. 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 human health and safety and the environment, particularly regarding plant wastes and emissions and solid waste disposal. Our consolidated environmental liabilities on an undiscounted basis were $5 million and $19 million as of March 31, 2024 and December 31, 2023, respectively, primarily within our Energy segment, 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. Energy RFS Disputes - CVR Energy’s obligated-party subsidiaries are subject to the Renewable Fuel Standard (“RFS”) implemented by the EPA which requires refiners to either blend renewable fuels into their transportation fuels or purchase renewable fuel credits, known as RINs, in lieu of blending, in an amount equal to the renewable volume obligation (“RVO”) for the applicable compliance year. CVR Energy’s obligated-party subsidiaries are not able to blend the substantial majority of their transportation fuels and, unless their obligations are waived or exempted by the EPA, must either purchase RINs on the open market or obtain waiver credits for cellulosic biofuels in order to comply with the RFS. CVR Energy’s obligated-party subsidiaries also purchase RINs generated from its renewable diesel operations to partially satisfy their RFS obligations. One of CVR Energy’s obligated-party subsidiaries, Wynnewood Refining Company, LLC (“WRC”), qualifies as a “small refinery” defined under the RFS as a refinery with an average aggregate daily crude oil throughput for a calendar year no greater than 75,000 barrels, which enables WRC to seek small refinery exemptions (“SREs”) under the RFS should it be able to establish it suffered disproportionate economic hardship. WRC’s petitions for SREs for the 2017 to 2021 compliance periods were denied by the EPA in April and June 2022 based on a new standard for evaluating SREs announced by the EPA in December 2021 and retroactively applied (collectively, the “2022 Denials”). However, the EPA failed to act after the United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) vacated the 2022 Denials and remanded the SRE petitions of WRC and certain other small refineries back to the EPA, finding that the 2022 Denials were impermissibly retroactive and that the EPA’s interpretation of the SRE provisions of the RFS was contrary to law and arbitrary and capricious as applied to the Fifth Circuit petitioners’ SRE petitions. As the mandate in the Fifth Circuit was issued in January 2024, WRC expects to file suit against the EPA for violating the RFS by failing to rule on those petitions within 90 days following issuance of the mandate as required. In WRC’s lawsuit against the EPA for the damages it sustained as a result of the EPA’s late grant of its SRE petition for the 2018 compliance period (which SRE petition was later denied by the EPA in the 2022 Denials), the United States Courts of Appeals for the District of Columbia Circuit (the “DC Circuit”) held oral argument in April 2024, though no ruling has yet been issued. Regarding WRC’s SRE petition for the 2022 compliance period which was denied by the EPA in July 2023 largely on the same grounds as the 2022 Denials, the Fifth Circuit stayed WRC’s obligations under the RFS for 2022 and held WRC’s lawsuit against the EPA in abeyance pending the outcome of the lawsuit file by certain other small refineries against the EPA in the DC Circuit related to the 2022 Denials. The DC Circuit held oral argument in April 2024, though no ruling has yet been issued. Regarding WRC’s SRE petition for the 2023 compliance period, the EPA has failed to rule on WRC’s SRE petition within 90 days as required by the RFS. WRC filed suit against the EPA relating to such failure, but withdrew that suit in April 2024 following the EPA’s filing of a declaration that the EPA did not intend to pursue claims against WRC relating to the 2023 compliance period pending the outcome of the various SRE litigations. If the EPA fails to rule on WRC’s SRE petition, WRC expects to file suit against the EPA for this failure. WRC’s challenges to the EPA’s Final Rules issued in June 2022 and June 2023 establishing the 2020 to 2022 RVOs and 2023 to 2025 RVOs, respectively, also remain pending. CVR Energy cannot yet determine at this time the outcomes of these matters. While CVR Energy intends to prosecute these actions vigorously, if these matters are ultimately concluded in a manner adverse to CVR Energy, they could have a material effect on CVR Energy’s financial position, results of operations, or cash flows. Our Energy segment recognized a benefit of approximately $51 million and $11 million for the three months ended March 31, 2024 and 2023, respectively, for CVR Energy’s obligated-party subsidiaries’ compliance with the RFS (based on the 2020 through 2024 annual RVO for the respective periods, excluding the impacts of any exemptions or waivers to which the obligated-party subsidiaries may be entitled). These recognized amounts are included in cost of goods sold in the consolidated statements of operations and represent costs to comply with the RFS obligation through purchasing of RINs not otherwise reduced by blending of ethanol, biodiesel, or renewable diesel. At each reporting period, to the extent RINs purchased or generated through blending are less than the RFS obligation (excluding the impact of exemptions or waivers to which CVR Energy’s obligated-party subsidiaries may be entitled), the remaining position is valued using RIN market prices at period end using each specific or closest vintage year. As of March 31, 2024 and December 31, 2023, CVR Energy’s obligated-party subsidiaries’ RFS position was Clean Air Act Matter - 45Q Transaction In January 2023, CVR Energy and its obligated-party subsidiaries entered into a joint venture and related agreements with unaffiliated third-party investors and others intended to qualify for certain tax credits available under Section 45Q of the Internal Revenue Code. Under the agreements entered into in connection with the 45Q Transactions, CVR Partners and certain of its subsidiaries are obligated to meet certain minimum quantities of carbon dioxide supply each year during the term of the agreement and could be subject to fees of up to 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. See the matters described under the caption “Other” below. Energy Call Option Coverage Case million for the Settlement, which summary judgment the Call Defendants have appealed. While the Delaware Coverage Case and the Texas Coverage Case remain pending, CVR Energy does not expect the outcome of these lawsuits to have a material adverse impact on the CVR Energy’s 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 85% of Icahn Enterprises’ outstanding depositary units as of March 31, 2024. 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 Viskase and ACF Industries LLC (“ACF”), an affiliate of Mr. Icahn. 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 Viskase and ACF plans have been met as of March 31, 2024. If the plans were voluntarily terminated, they would be underfunded by an aggregate of approximately $39 million as of March 31, 2024. These results are based on the most recent information provided by the plans’ actuaries. 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 Viskase or ACF to make ongoing pension contributions or to pay the unfunded liabilities upon a termination of the Viskase or 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 pension plans of Viskase and ACF requires them to notify the PBGC of certain “reportable events,” such as if we cease to be a member of the Viskase or 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 Icahn Enterprises L.P. was contacted on May 3, 2023 by the U.S. Attorney’s office for the Southern District of New York and on June 21, 2023 by the staff of the Division of Enforcement of the U.S. Securities and Exchange Commission (the “SEC”), seeking production of information relating to the Company and certain of its affiliates’ corporate governance, capitalization, securities offerings, disclosure, dividends, valuation, marketing materials, due diligence and other materials. We are cooperating with these requests and investigations and are providing documents in response to these requests for information. In addition, two putative securities class action lawsuits have been filed against the Company in the U.S. District Court for the Southern District of Florida alleging violations of the federal securities laws, Okaro v. Icahn Enterprises L.P. et al. Levine v. Icahn Enterprises L.P. et al. current and former officers as defendants, and the Company as a nominal defendant, alleging breaches of fiduciary duties with respect to the Company’s disclosure, Patrick Pickney v. Icahn Enterprises G.P. Inc. Case No. 1:23-cv-22932-KMW Bruno v. Icahn Enterprises, L.P. et al. We believe that we maintain a strong compliance program and, while no assurances can be made, and we are still evaluating these matters, we do not currently believe that these inquiries and litigations will have a material impact on our business, financial condition, results of operations or cash flows.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Information
Supplemental Cash Flow Information	19. Supplemental Cash Flow Information Supplemental cash flow information consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ (in millions) Cash payments for interest ​ $ (58) ​ $ (83) Cash payments for income taxes, net of payments ​ (25) ​ (5) Partnership contributions receivable ​ — ​ 6 Non-cash Investment segment distributions to non-controlling interests ​ ​ — ​ ​ (2) Partnership distributions payable ​ 439 ​ (724) Non-cash recognition of the related party note receivable ​ ​ — ​ ​ 188 ​

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events
Subsequent Events	20. Subsequent Events Icahn Enterprises Debt Repurchase and Sales In November and December of 2023, we repurchased in the open market approximately $35 million aggregate principal amount of our 4.750% senior unsecured notes due 2024, $12 million aggregate principal amount of our 6.25% senior unsecured notes due 2026, $5 million aggregate principal amount of our 5.25% senior unsecured notes due 2027, and $40 million aggregate principal amount of our 4.375% senior unsecured notes due 2029 for total cash paid of $84 million for a total aggregate principal amount $92 million. The Company cancelled and reduced the outstanding principal of the repurchased 4.750% senior unsecured notes due 2024, and the remaining repurchased notes of $57 million aggregate principal were extinguished but were not retired and are held in treasury. In April 2024, we sold the $12 million in aggregate principal amount of our 6.250% senior unsecured notes due 2026 and the $5 million in aggregate principal amount of our 5.250% senior unsecured notes due 2027, both previously repurchased and held in treasury, in the open market. LP Unit Distribution On May 6, 2024, the Board of Directors of the general partner of Icahn Enterprises declared a quarterly distribution in the amount of $1.00 per depositary unit, which will be paid on or about June 25, 2024 to depositary unitholders of record at the close of business on May 20, 2024. Depositary unitholders will have until June 12, 2024 to make a timely election to receive either cash or additional depositary units. If a unitholder does not make a timely election, it will automatically be deemed to have elected to receive the distribution in additional depositary units. Depositary unitholders who elect to receive (or who are deemed to have elected to receive) additional depositary units will receive units valued at the volume weighted average trading price of the units during the five consecutive trading days ending June 20, 2024. Icahn Enterprises will make a cash payment in lieu of issuing fractional depositary units to any unitholders electing to receive (or who are deemed to have elected to receive) depositary units.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Basis of Presentation and Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation Our condensed consolidated financial statements include the accounts of (i) Icahn Enterprises and (ii) the wholly and majority owned subsidiaries of Icahn Enterprises, 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. For entities over which the Company does not have significant influence, the Company accounts for its equity investment at fair value, except for the Company’s equity interest in Auto Plus. 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 such equity investments are accounted for at fair value.
Consolidated Variable Interest Entities	Consolidated Variable Interest Entities 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. Icahn Enterprises Holdings and its subsidiaries own substantially all of our assets and liabilities and therefore, the balance sheets of Icahn Enterprises and Icahn Enterprises Holdings are substantially the same. During 2023, we established a captive insurance program to supplement the insurance coverage of the officers, directors, employees and agents of the Company, its subsidiaries and our general partner, in addition to our newly established commercial insurance program. We hold assets in a protected cell, which we are the primary beneficiary of, and therefore consolidate the protected cell. At March 31, 2024, total assets related to the protected cell were $104 million and included in restricted cash in the condensed consolidated balance sheet.
Reclassifications	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.
Fair Value of Financial Instruments	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 5, “Investments,” and Note 6, “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, 2024 was approximately $6.6 billion and $6.4 billion, respectively. The carrying value and estimated fair value of our long-term debt as of December 31, 2023 was approximately $7.2 billion and $6.9 billion, respectively.
Cash Flow	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	Cash Held at Consolidated Affiliated Partnerships and Restricted Cash Our cash held at consolidated affiliated partnerships balance was $791 million and $1,068 million as of March 31, 2024 and December 31, 2023, 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 used for the general operating needs of the Investment segment or Icahn Enterprises. Our restricted cash balance was $1,774 million and $1,927 million as of March 31, 2024 and December 31, 2023, respectively. Restricted cash includes, but is not limited to, our Investment segment’s cash pledged and held for margin requirements on derivative transactions and cash held related to our captive insurance program.
Revenue From Contracts With Customers and Contract Balances	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 and Automotive segment’s leasing revenue, our revenue is generally derived from contracts with customers in accordance with U.S. GAAP. Such revenue from contracts with customers is included in net sales and other revenues from operations in the condensed consolidated statements of operations, however, our Real Estate and Automotive segment’s leasing revenue, as disclosed in Note 11, “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 14, “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 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 revenue is recognized at the point in time in which the customer obtains control of the product. In addition, it includes deferred revenue associated with agreements entered into with third-party investors that has allowed our Energy segment to monetize certain tax credits available under Section 45Q of the Internal Revenue Code (the “45Q Transaction”). Our Energy segment had deferred revenue of $52 million and $49 million as of March 31, 2024 and December 31, 2023, respectively. For the three months ended March 31, 2024 and 2023, our Energy segment recorded revenue of $5 million and $12 million, respectively, with respect to deferred revenue outstanding as of the beginning of each respective period. As of March 31, 2024, our Energy segment had $14 million of remaining performance obligations for contracts with an original expected duration of more than one year. Our Energy segment expects to recognize $4 million of these performance obligations as revenue by the end of 2024, an additional $5 million during 2025, and the remaining balance in 2026. Automotive Our Automotive segment had deferred revenue with respect to extended warranty plans of $43 million and $45 million as of March 31, 2024 and December 31, 2023, respectively, which are included in accrued expenses and other liabilities on the condensed consolidated balance sheets. For the three months ended March 31, 2024 and 2023, our Automotive segment recorded deferred revenue of $6 million and $6 million, respectively, outstanding as of the beginning of each period.
Adoption of New Accounting Standards and Recently Issued Accounting Standards	Adoption of New Accounting Standards In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, Fair Value Measurement Recently Issued Accounting Standards In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures, In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures .

Fair Value Measurements (Polici

Fair Value Measurements (Policies)	3 Months Ended
	Mar. 31, 2024
Fair Value Measurements
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 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 assets and liabilities. 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. ​ ​

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Policies)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets, Net
Intangible assets	We utilize the straight-line method of amortization, recognized over the estimated useful lives of the assets

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Investment Segment
Schedule of Investments
Investment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 ​ ​ (in millions) Assets ​ ​ ​ ​ ​ ​ Investments: ​ ​ Equity securities: ​ ​ Communications ​ $ 12 ​ $ — Consumer, cyclical ​ 281 ​ 260 Energy ​ 781 ​ 708 Utilities ​ 943 ​ 1,012 Healthcare ​ 543 ​ 440 Technology ​ 129 ​ 139 Materials ​ 322 ​ 52 Industrial ​ 132 ​ — ​ ​ 3,143 ​ 2,611 Debt securities: ​ ​ ​ ​ ​ ​ Financials ​ ​ — ​ ​ 158 Real Estate ​ ​ 42 ​ ​ 44 Communications ​ ​ 18 ​ ​ 85 ​ ​ 60 ​ 287 ​ ​ $ 3,203 ​ $ 2,898 Liabilities ​ ​ Securities sold, not yet purchased, at fair value: ​ ​ Equity securities: ​ ​ Consumer, non-cyclical ​ $ 22 ​ $ 41 Consumer, cyclical ​ ​ — ​ ​ 3 Energy ​ 2,536 ​ 2,146 Utilities ​ 436 ​ 610 Materials ​ 309 ​ 350 Industrial ​ ​ 166 ​ ​ 138 ​ ​ ​ 3,469 ​ ​ 3,288 Debt securities: ​ ​ ​ ​ ​ ​ Materials ​ ​ 175 ​ ​ 185 ​ ​ $ 3,644 ​ $ 3,473 ​ ​ ​ ​ ​ ​ ​
Other Segments and Holding Company
Schedule of Investments
Investment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 ​ ​ (in millions) Equity method investments ​ $ 98 ​ $ 100 Held to maturity debt investments measured at amortized cost ​ ​ 11 ​ ​ 11 Other investments measured at fair value ​ 3 ​ 3 ​ ​ $ 112 ​ $ 114

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Measurements
Assets measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total ​ ​ (in millions) Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Investments (Note 5) ​ $ 3,105 ​ $ 60 ​ $ 41 ​ $ 3,206 ​ $ 2,730 ​ $ 129 ​ $ 42 ​ $ 2,901 Derivative assets, net (Note 7) ​ — ​ 24 ​ — ​ 24 ​ — ​ 64 ​ — ​ 64 ​ ​ $ 3,105 ​ $ 84 ​ $ 41 ​ $ 3,230 ​ $ 2,730 ​ $ 193 ​ $ 42 ​ $ 2,965 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Securities sold, not yet purchased (Note 5) ​ $ 3,469 ​ $ 175 ​ $ — ​ $ 3,644 ​ $ 3,288 ​ $ 185 ​ $ — ​ $ 3,473 Derivative liabilities, net (Note 7) ​ — ​ 702 ​ — ​ 702 ​ — ​ 979 ​ — ​ 979 RFS obligations (Note 18) ​ — ​ 294 ​ — ​ 294 ​ — ​ 329 ​ — ​ 329 ​ ​ $ 3,469 ​ $ 1,171 ​ $ — ​ $ 4,640 ​ $ 3,288 ​ $ 1,493 ​ $ — ​ $ 4,781

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative
Notional exposure of derivative instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ Long Notional Exposure Short Notional Exposure Long Notional Exposure Short Notional Exposure ​ ​ ​ (in millions) Primary underlying risk: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity contracts ​ $ 2,033 ​ $ 2,292 ​ $ 1,882 ​ $ 2,350 Credit contracts (1) ​ — ​ 392 ​ ​ — ​ 435 Commodity contracts ​ — ​ 321 ​ ​ — ​ ​ 409 (1) The short notional amount on our credit default swap positions was approximately $2.4 billion and $2.5 billion at March 31, 2024 and December 31, 2023, respectively. However, because credit spreads cannot compress below zero , our downside short notional exposure to loss is approximately $0.4 billion and $0.4 billion as of March 31, 2024 and December 31, 2023, respectively.
Investment Segment
Derivative
Fair value and income recognized for derivatives not designated as hedging instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Assets ​ Derivative Liabilities ​ March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 ​ ​ ​ (in millions) Equity contracts ​ $ 52 ​ $ 11 ​ $ 739 ​ $ 999 Credit contracts ​ 14 ​ 39 ​ 2 ​ 2 Commodity contracts ​ 5 ​ 14 ​ 9 ​ 3 Sub-total ​ 71 ​ 64 ​ 750 ​ 1,004 Netting across contract types (1) ​ (57) ​ (25) ​ (57) ​ (25) Total (1) ​ $ 14 ​ $ 39 ​ $ 693 ​ $ 979 (1) Excludes netting of cash collateral received and posted. The total collateral posted at March 31, 2024 and December 31, 2023 was $1.6 billion and $1.7 billion, 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ Equity contracts $ 236 ​ $ (284) Credit contracts (43) ​ 36 Commodity contracts (30) ​ 1 ​ $ 163 ​ $ (247) (1) Gains (losses) recognized on derivatives are classified in net (loss) gain from investment activities in our condensed consolidated statements of operations for our Investment segment.
Energy
Derivative
Fair value and income recognized for derivatives not designated as hedging instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Assets ​ Derivative Liabilities ​ March 31, 2024 December 31, 2023 March 31, 2024 December 31, 2023 ​ ​ ​ (in millions) Commodity contracts ​ $ 20 ​ $ 31 ​ $ 19 ​ $ 6 Netting across contract types (1) ​ (10) ​ (6) ​ (10) ​ (6) Total (1) ​ $ 10 ​ $ 25 ​ $ 9 ​ $ — ​ (1) Excludes netting of derivatives primarily related to initial margin requirements of $4 million and $13 million at March 31, 2024 and December 31, 2023, respectively, which was not offset against derivatives liabilities, net in the condensed consolidated balance sheets .

Related Party Notes Receivabl_2

Related Party Notes Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Related Party Notes Receivable, Net
Schedule of related party notes receivable and related allowance for expected credit losses	​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ ​ ​ ​ Related party notes receivable, gross ​ $ 23 Less: Allowance for expected credit losses ​ ​ 12 Related party notes receivable, net ​ $ 11 ​ ​ ​ ​ Allowance for expected credit losses: ​ ​ ​ Beginning Balance as of December 31, 2023 ​ $ 12 Credit loss provision ​ ​ - Write-offs ​ ​ - Ending Balance as of March 31, 2024 ​ $ 12

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Inventories, Net
Inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 ​ ​ (in millions) Raw materials ​ $ 345 ​ $ 367 Work in process ​ 110 ​ 95 Finished goods ​ ​ 584 ​ 585 ​ ​ $ 1,039 ​ $ 1,047 ​

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets, Net
Schedule of Goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ Gross ​ ​ Net Gross ​ ​ Net ​ ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying ​ ​ Amount ​ Impairment ​ Value ​ Amount ​ Impairment ​ Value ​ ​ (in millions) Automotive ​ $ 337 ​ $ (87) $ 250 ​ $ 337 ​ $ (87) $ 250 Food Packaging ​ ​ 6 ​ ​ — ​ ​ 6 ​ ​ 6 ​ ​ — ​ ​ 6 Home Fashion ​ 22 ​ (3) ​ 19 ​ 22 ​ (3) ​ 19 Pharma ​ ​ 13 ​ ​ — ​ ​ 13 ​ ​ 13 ​ ​ — ​ ​ 13 ​ ​ $ 378 ​ $ (90) ​ $ 288 ​ $ 378 ​ $ (90) ​ $ 288
Intangible assets, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ December 31, 2023 ​ Gross ​ ​ Net Gross ​ ​ Net ​ ​ Carrying ​ Accumulated ​ Carrying ​ Carrying ​ Accumulated ​ Carrying ​ ​ Amount ​ Amortization ​ Value ​ Amount ​ Amortization ​ Value ​ ​ (in millions) Definite-lived intangible assets: ​ ​ ​ ​ ​ ​ Customer relationships ​ $ 392 ​ $ (234) ​ $ 158 ​ $ 392 ​ $ (229) ​ $ 163 Developed technology ​ ​ 254 ​ ​ (97) ​ ​ 157 ​ ​ 254 ​ ​ (90) ​ ​ 164 Other ​ 164 ​ (103) ​ 61 ​ 164 ​ (101) ​ 63 ​ ​ $ 810 ​ $ (434) ​ $ 376 ​ $ 810 ​ $ (420) ​ $ 390 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indefinite-lived intangible assets ​ ​ ​ $ 76 ​ ​ ​ $ 76 Intangible assets, net ​ ​ ​ $ 452 ​ ​ ​ $ 466

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases
Lessee right-of-use assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, December 31, ​ ​ 2024 ​ 2023 ​ ​ (in millions) Operating Leases: ​ ​ ​ ​ Right-of-use assets (other assets) ​ $ 513 ​ $ 526 Lease liabilities (accrued expenses and other liabilities) ​ 519 ​ 531 ​ ​ ​ ​ ​ ​ ​ Financing Leases: ​ ​ ​ ​ Right-of-use assets (property, plant and equipment, net) ​ 54 ​ 55 Lease liabilities (debt) ​ 68 ​ 70
Operating lease term and discount rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-Of-Use Lease ​ Discount Operating Leases as of March 31, 2024 ​ Assets ​ Liabilities ​ Lease Term ​ Rate ​ ​ (in millions) ​ ​ ​ ​ ​ Energy ​ $ 53 ​ $ 50 ​ 5.3 years ​ 6.8% ​ Automotive ​ 412 ​ 424 5.3 years 5.9% ​ Food Packaging ​ 21 ​ 24 9.0 years 7.4% ​ Other segments and Holding Company ​ 27 ​ 21 ​ ​ ​ $ 513 ​ $ 519 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-Of-Use Lease ​ Discount ​ Operating Leases as of December 31, 2023 ​ Assets ​ Liabilities ​ Lease Term ​ Rate ​ ​ ​ (in millions) ​ ​ ​ ​ ​ Energy ​ $ 53 ​ $ 49 ​ 5.4 years ​ 6.7% ​ Automotive ​ 422 ​ 434 5.4 years 5.9% ​ Food Packaging ​ 22 ​ 25 9.1 years 7.4% ​ Other segments and Holding Company ​ 29 ​ 23 ​ ​ ​ $ 526 ​ $ 531 ​ ​ ​ ​ ​

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt
Schedule of Long-term Debt Instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ 2024 2023 ​ ​ (in millions) Holding Company: ​ ​ ​ ​ 6.375% senior unsecured notes due 2025 ​ $ 749 ​ $ 749 6.250% senior unsecured notes due 2026 ​ 1,238 ​ 1,238 5.250% senior unsecured notes due 2027 ​ 1,454 ​ 1,454 4.375% senior unsecured notes due 2029 ​ ​ 708 ​ ​ 708 9.750% senior unsecured notes due 2029 ​ ​ 698 ​ ​ 698 ​ ​ 4,847 ​ 4,847 Reporting Segments: ​ ​ ​ ​ ​ ​ Energy ​ 1,585 ​ 2,185 Automotive ​ 29 ​ 33 Food Packaging ​ 138 ​ 133 Real Estate ​ 1 ​ 1 Home Fashion ​ 8 ​ 8 ​ ​ 1,761 ​ 2,360 Total Debt ​ $ 6,608 ​ $ 7,207

Net Income (Loss) Per LP Unit (

Net Income (Loss) Per LP Unit (Tables)	3 Months Ended
	Mar. 31, 2024
Net Income (Loss) Per LP Unit
Net Income(Loss) Per LP Unit	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Net loss attributable to Icahn Enterprises ​ $ (38) $ (270) Net loss income attributable to Icahn Enterprises allocated to limited partners (98.01% allocation) ​ $ (37) ​ $ (265) ​ ​ ​ ​ ​ ​ ​ Basic loss per LP unit: ​ $ (0.09) ​ $ (0.75) Basic weighted average LP units outstanding ​ ​ 429 ​ ​ 354 ​ ​ ​ ​ ​ ​ ​ Diluted loss income per LP unit: ​ $ (0.09) ​ $ (0.75) Diluted weighted average LP units outstanding (1) ​ 429 ​ 354 ​ ​ ​ ​ ​ ​ ​

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Schedule of Condensed Income Statement by Segment	Condensed Statements of Operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2024 ​ Investment Energy Automotive Food Packaging Real Estate Home Fashion Pharma Holding Company Consolidated ​ ​ (in millions) Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ — ​ $ 1,863 ​ $ 219 ​ $ 101 ​ $ 1 ​ $ 36 ​ $ 24 ​ $ — ​ $ 2,244 Other revenues from operations ​ — ​ — ​ 165 ​ — ​ 17 ​ — ​ 1 ​ — ​ 183 Net loss from investment activities ​ (96) ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ (96) Interest and dividend income ​ 105 ​ 13 ​ 1 ​ — ​ — ​ — ​ — ​ 24 ​ 143 Loss on disposition of assets, net ​ — ​ (1) ​ (5) ​ — ​ — ​ — ​ — ​ — ​ (6) ​ ​ 9 ​ 1,875 ​ 380 ​ 101 ​ 18 ​ 36 ​ 25 ​ 24 ​ 2,468 Expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of goods sold ​ — ​ 1,713 ​ 152 ​ 80 ​ 1 ​ 27 ​ 14 ​ — ​ 1,987 Other expenses from operations ​ — ​ — ​ 139 ​ — ​ 14 ​ — ​ — ​ — ​ 153 Selling, general and administrative ​ 4 ​ 42 ​ 102 ​ 13 ​ 5 ​ 10 ​ 10 ​ 7 ​ 193 Interest expense ​ 25 ​ 33 ​ — ​ 3 ​ — ​ — ​ — ​ 75 ​ 136 Other loss (income), net ​ 20 ​ (4) ​ — ​ 2 ​ — ​ — ​ — ​ — ​ 18 ​ ​ 49 ​ 1,784 ​ 393 ​ 98 ​ 20 ​ 37 ​ 24 ​ 82 ​ 2,487 (Loss) income before income tax (expense) benefit ​ (40) ​ 91 ​ (13) ​ 3 ​ (2) ​ (1) ​ 1 ​ (58) ​ (19) Income tax (expense) benefit ​ — ​ (13) ​ 4 ​ (1) ​ — ​ — ​ — ​ 3 ​ (7) Net (loss) income ​ (40) ​ 78 ​ (9) ​ 2 ​ (2) ​ (1) ​ 1 ​ (55) ​ (26) Less: net (loss) income attributable to non-controlling interests ​ (17) ​ 29 ​ — ​ — ​ — ​ — ​ — ​ — ​ 12 Net (loss) income attributable to Icahn Enterprises ​ $ (23) ​ $ 49 ​ $ (9) ​ $ 2 ​ $ (2) ​ $ (1) ​ $ 1 ​ $ (55) ​ $ (38) Supplemental information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ — ​ $ 47 ​ $ 16 ​ $ 2 ​ $ 2 ​ $ 1 ​ $ — ​ $ — ​ $ 68 Depreciation and amortization ​ $ — ​ $ 92 ​ $ 19 ​ $ 6 ​ $ 3 ​ $ 2 ​ $ 7 ​ $ — ​ $ 129 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2023 ​ Investment Energy Automotive Food Packaging Real Estate Home Fashion Pharma Holding Company Consolidated ​ ​ (in millions) ​ ​ Revenues: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales ​ $ — ​ $ 2,286 ​ $ 287 ​ $ 118 ​ $ 7 ​ $ 40 ​ $ 20 ​ $ — ​ $ 2,758 Other revenues from operations ​ — ​ — ​ 170 ​ — ​ 16 ​ — ​ 1 ​ — ​ 187 Net loss from investment activities ​ (443) ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ (443) Interest and dividend income ​ 144 ​ 5 ​ — ​ — ​ — ​ — ​ — ​ 22 ​ 171 ​ ​ (299) ​ 2,291 ​ 457 ​ 118 ​ 23 ​ 40 ​ 21 ​ 22 ​ 2,673 Expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of goods sold ​ — ​ 1,926 ​ 193 ​ 91 ​ 6 ​ 32 ​ 12 ​ — ​ 2,260 Other expenses from operations ​ — ​ — ​ 145 ​ — ​ 13 ​ — ​ — ​ — ​ 158 Selling, general and administrative ​ 3 ​ 46 ​ 132 ​ 14 ​ 4 ​ 10 ​ 13 ​ 7 ​ 229 Loss on deconsolidation of subsidiary ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 226 ​ ​ 226 Interest expense ​ 45 ​ 23 ​ — ​ 3 ​ — ​ — ​ — ​ 71 ​ 142 Other loss (income), net ​ 28 ​ (3) ​ — ​ 7 ​ — ​ — ​ — ​ — ​ 32 ​ ​ 76 ​ 1,992 ​ 470 ​ 115 ​ 23 ​ 42 ​ 25 ​ 304 ​ 3,047 (Loss) income before income tax (expense) benefit ​ (375) ​ 299 ​ (13) ​ 3 ​ — ​ (2) ​ (4) ​ (282) ​ (374) Income tax (expense) benefit ​ — ​ (52) ​ — ​ 4 ​ — ​ — ​ — ​ 64 ​ 16 Net (loss) income ​ (375) ​ 247 ​ (13) ​ 7 ​ — ​ (2) ​ (4) ​ (218) ​ (358) Less: net (loss) income attributable to non-controlling interests ​ (204) ​ 115 ​ — ​ 1 ​ — ​ — ​ — ​ — ​ (88) Net (loss) income attributable to Icahn Enterprises ​ $ (171) ​ $ 132 ​ $ (13) ​ $ 6 ​ $ — ​ $ (2) ​ $ (4) ​ $ (218) ​ $ (270) Supplemental information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ $ — ​ $ 44 ​ $ 10 ​ $ 2 ​ $ 2 ​ $ — ​ $ — ​ $ — ​ $ 58 Depreciation and amortization ​ $ — ​ $ 84 ​ $ 19 ​ $ 7 ​ $ 3 ​ $ 2 ​ $ 7 ​ $ — ​ $ 122 ​
Schedule of Condensed Financial Statements by Segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2024 ​ ​ Investment ​ Energy ​ Automotive ​ Food Packaging ​ Real Estate ​ Home Fashion ​ Pharma ​ Holding Company ​ Consolidated ​ ​ (in millions) ASSETS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 6 ​ $ 644 ​ $ 64 ​ $ 7 ​ $ 33 ​ $ 4 ​ $ 18 ​ $ 1,692 ​ $ 2,468 Cash held at consolidated affiliated partnerships and restricted cash ​ 2,379 ​ — ​ 8 ​ — ​ 4 ​ 3 ​ — ​ 171 ​ 2,565 Investments ​ 3,203 ​ 98 ​ — ​ — ​ 14 ​ — ​ — ​ — ​ 3,315 Accounts receivable, net ​ — ​ 253 ​ 41 ​ 85 ​ 16 ​ 22 ​ 30 ​ — ​ 447 Inventories, net ​ — ​ 601 ​ 213 ​ 118 ​ — ​ 85 ​ 22 ​ — ​ 1,039 Related party notes receivable, net ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 11 ​ ​ 11 Property, plant and equipment, net ​ — ​ 2,572 ​ 822 ​ 129 ​ 363 ​ 50 ​ — ​ 4 ​ 3,940 Goodwill and intangible assets, net ​ — ​ 174 ​ 333 ​ 23 ​ — ​ 19 ​ 191 ​ — ​ 740 Other assets ​ 4,352 ​ 287 ​ 477 ​ 98 ​ 71 ​ 20 ​ 7 ​ 227 ​ 5,539 Total assets ​ $ 9,940 ​ $ 4,629 ​ $ 1,958 ​ $ 460 ​ $ 501 ​ $ 203 ​ $ 268 ​ $ 2,105 ​ $ 20,064 LIABILITIES AND EQUITY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable, accrued expenses and other liabilities ​ $ 999 ​ $ 1,506 ​ $ 840 ​ $ 136 ​ $ 55 ​ $ 44 ​ $ 54 ​ $ 553 ​ $ 4,187 Securities sold, not yet purchased, at fair value ​ 3,644 ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 3,644 Debt ​ — ​ 1,585 ​ 29 ​ 138 ​ 1 ​ 8 ​ — ​ 4,847 ​ 6,608 Total liabilities ​ 4,643 ​ 3,091 ​ 869 ​ 274 ​ 56 ​ 52 ​ 54 ​ 5,400 ​ 14,439 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity attributable to Icahn Enterprises ​ 3,202 ​ 811 ​ 1,089 ​ 169 ​ 440 ​ 151 ​ 214 ​ (3,295) ​ 2,781 Equity attributable to non-controlling interests ​ 2,095 ​ 727 ​ — ​ 17 ​ 5 ​ — ​ — ​ — ​ 2,844 Total equity ​ 5,297 ​ 1,538 ​ 1,089 ​ 186 ​ 445 ​ 151 ​ 214 ​ (3,295) ​ 5,625 Total liabilities and equity ​ $ 9,940 ​ $ 4,629 ​ $ 1,958 ​ $ 460 ​ $ 501 ​ $ 203 ​ $ 268 ​ $ 2,105 ​ $ 20,064 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 ​ ​ Investment ​ Energy ​ Automotive ​ Food Packaging ​ Real Estate ​ Home Fashion ​ Pharma ​ Holding Company ​ Consolidated ​ ​ (in millions) ASSETS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 23 ​ $ 1,179 ​ $ 104 ​ $ 8 ​ $ 22 ​ $ 5 ​ $ 26 ​ $ 1,584 ​ $ 2,951 Cash held at consolidated affiliated partnerships and restricted cash ​ 2,799 ​ 7 ​ 9 ​ — ​ 4 ​ 3 ​ — ​ 173 ​ 2,995 Investments ​ 2,898 ​ 100 ​ — ​ — ​ 14 ​ — ​ — ​ — ​ 3,012 Accounts receivable, net ​ — ​ 286 ​ 41 ​ 89 ​ 16 ​ 26 ​ 27 ​ — ​ 485 Related party note receivable, net ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 11 ​ ​ 11 Inventories, net ​ — ​ 604 ​ 228 ​ 111 ​ — ​ 81 ​ 23 ​ — ​ 1,047 Property, plant and equipment, net ​ — ​ 2,594 ​ 822 ​ 134 ​ 363 ​ 52 ​ — ​ 4 ​ 3,969 Goodwill and intangible assets, net ​ — ​ 179 ​ 335 ​ 23 ​ — ​ 19 ​ 198 ​ — ​ 754 Other assets ​ 4,425 ​ 310 ​ 480 ​ 101 ​ 69 ​ 17 ​ 8 ​ 224 ​ 5,634 Total assets ​ $ 10,145 ​ $ 5,259 ​ $ 2,019 ​ $ 466 ​ $ 488 ​ $ 203 ​ $ 282 ​ $ 1,996 ​ $ 20,858 LIABILITIES AND EQUITY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts payable, accrued expenses and other liabilities ​ $ 1,312 ​ $ 1,553 ​ $ 890 ​ $ 148 ​ $ 43 ​ $ 42 ​ $ 55 ​ $ 62 ​ $ 4,105 Securities sold, not yet purchased, at fair value ​ 3,473 ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ 3,473 Debt ​ — ​ 2,185 ​ 33 ​ 133 ​ 1 ​ 8 ​ — ​ 4,847 ​ 7,207 Total liabilities ​ 4,785 ​ 3,738 ​ 923 ​ 281 ​ 44 ​ 50 ​ 55 ​ 4,909 ​ 14,785 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity attributable to Icahn Enterprises ​ 3,243 ​ 795 ​ 1,096 ​ 168 ​ 439 ​ 153 ​ 227 ​ (2,913) ​ 3,208 Equity attributable to non-controlling interests ​ 2,117 ​ 726 ​ — ​ 17 ​ 5 ​ — ​ — ​ — ​ 2,865 Total equity ​ 5,360 ​ 1,521 ​ 1,096 ​ 185 ​ 444 ​ 153 ​ 227 ​ (2,913) ​ 6,073 Total liabilities and equity ​ $ 10,145 ​ $ 5,259 ​ $ 2,019 ​ $ 466 ​ $ 488 ​ $ 203 ​ $ 282 ​ $ 1,996 ​ $ 20,858 ​
Energy
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Petroleum products ​ $ 1,735 ​ $ 2,060 Nitrogen fertilizer products ​ 128 ​ 226 ​ ​ $ 1,863 ​ $ 2,286
Automotive Segment
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Automotive Services ​ $ 356 ​ $ 369 Aftermarket Parts ​ 13 ​ 72 Total revenue from customers ​ ​ 369 ​ ​ 441 Lease revenue outside the scope of ASC 606 ​ ​ 15 ​ ​ 16 Total Automotive net sales and other revenues from operations ​ $ 384 ​ $ 457

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2024
Changes in Accumulated Other Comprehensive Loss
Schedule of Accumulated Other Comprehensive Loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Translation ​ Post-Retirement ​ ​ ​ ​ ​ Adjustments, Net ​ Benefits, Net ​ ​ ​ ​ of Tax of Tax Total ​ ​ (in millions) Balance, December 31, 2023 ​ $ (33) ​ $ (22) ​ $ (55) Other comprehensive loss before reclassifications, net of tax ​ (2) ​ — ​ (2) Other comprehensive loss, net of tax ​ (2) ​ — ​ (2) Balance, March 31, 2024 ​ $ (35) ​ $ (22) ​ $ (57) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Translation ​ Post-Retirement ​ ​ ​ ​ ​ Adjustments, Net ​ Benefits, Net ​ ​ ​ ​ of Tax of Tax Total ​ ​ (in millions) Balance, December 31, 2022 ​ $ (45) ​ $ (25) ​ $ (70) Other comprehensive loss before reclassifications, net of tax ​ 4 ​ — ​ 4 Other comprehensive loss, net of tax ​ 4 ​ — ​ 4 Balance, March 31, 2023 ​ $ (41) ​ $ (25) ​ $ (66) ​

Other Loss, Net (Tables)

Other Loss, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Other Loss, Net
Schedule of other loss, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ ​ ​ ​ ​ ​ Dividend expense ​ $ (20) ​ $ (28) Equity earnings from non-consolidated affiliates ​ ​ 4 ​ ​ 2 Other ​ (2) ​ (6) ​ ​ $ (18) ​ $ (32) ​

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Information
Schedule of Cash Flow, Supplemental Disclosures	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2024 2023 ​ ​ (in millions) Cash payments for interest ​ $ (58) ​ $ (83) Cash payments for income taxes, net of payments ​ (25) ​ (5) Partnership contributions receivable ​ — ​ 6 Non-cash Investment segment distributions to non-controlling interests ​ ​ — ​ ​ (2) Partnership distributions payable ​ 439 ​ (724) Non-cash recognition of the related party note receivable ​ ​ — ​ ​ 188 ​

Description of Business (Detail

Description of Business (Details) $ in Billions	3 Months Ended
	Mar. 31, 2024 USD ($) country product item
Description of Business [Line Items]
Number of Country Clubs Operated | country	2
Icahn Enterprises Holdings
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary	99%
Icahn Enterprises Holdings | Icahn Enterprises G.P.
Description of Business [Line Items]
General partner ownership percentage in Icahn Enterprises	1%
Icahn Enterprises Holdings | Mr. Icahn and affiliates
Description of Business [Line Items]
Affiliate ownership interest	85%
Icahn Enterprises G.P.
Description of Business [Line Items]
Aggregate general partner ownership interest of parent and operating subsidiary	1.99%
CVR Refining
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary	37%
CVR Energy | Energy
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary	66%
Viskase | Private Placement
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary	90%
Investment Funds
Description of Business [Line Items]
Fair value of investment in subsidiary | $	$ 3.2
CVR Partners | CVR Energy
Description of Business [Line Items]
Percentage of equity ownership in operating subsidiary	100%
Vivus | Pharma
Description of Business [Line Items]
Number of approved therapies	2
Number of product candidates in active clinical development	2
Number of product candidates | product	2

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Feb. 29, 2024	Mar. 31, 2023	Dec. 31, 2022
Accounting Policies [Line Items]
Total assets	$ 20,064	$ 20,858
Debt	6,608	7,207
Fair value of long-term debt	6,400	6,900
Cash and cash equivalents	2,468	2,951
Restricted cash	2,565	2,995
Accumulated other comprehensive loss	$ (57)	(55)		$ (66)	$ (70)
Icahn Enterprises G.P.
Accounting Policies [Line Items]
Aggregate general partner ownership interest of parent and operating subsidiary	1.99%
Icahn Enterprises Holdings
Accounting Policies [Line Items]
Percentage of equity ownership in operating subsidiary	99%
Cash held at consolidated affiliated partnerships
Accounting Policies [Line Items]
Restricted cash	$ 791	1,068
Restricted cash
Accounting Policies [Line Items]
Restricted cash	1,774	1,927
Primary beneficiary
Accounting Policies [Line Items]
Total assets	104
Energy
Accounting Policies [Line Items]
Total assets	4,629	5,259
Debt	1,585	2,185
Cash and cash equivalents	644	1,179
Restricted cash		7
Remaining performance obligation expected to be recognized as revenue within one year	14
Remaining performance obligation expected to be recognized as revenue within one year	4
Remaining performance obligation for contracts with an original expected duration of more than one year	5
Deferred revenue	52	49
Recorded revenue	$ 5	$ 12
Lease term	5 years 3 months 18 days	5 years 4 months 24 days
Energy | 5.25% senior unsecured notes due 2025
Accounting Policies [Line Items]
Interest rate on debt instrument			5.25%
Automotive Segment
Accounting Policies [Line Items]
Total assets	$ 1,958	$ 2,019
Debt	29	33
Cash and cash equivalents	64	104
Restricted cash	8	9
Deferred revenue	43	45
Recorded revenue	$ 6	$ 6
Lease term	5 years 3 months 18 days	5 years 4 months 24 days
Real Estate Segment
Accounting Policies [Line Items]
Total assets	$ 501	$ 488
Debt	1	1
Cash and cash equivalents	33	22
Restricted cash	$ 4	$ 4

Subsidiary Bankruptcy and Dec_2

Subsidiary Bankruptcy and Deconsolidation (Details) $ in Millions	May 19, 2023 USD ($) item	Mar. 31, 2023 USD ($)
Related Party Transaction [Line Items]
Number of sales of Auto Plus assets | item	5
Number of bidders | item	5
Non cash charge	$ 10
Credit bid for a portion of its senior secured debtor-in-possession loan		$ 226
Deconsolidation of Investment in Auto Plus
Related Party Transaction [Line Items]
Equity investments, Fair value		$ 0

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions			2 Months Ended	3 Months Ended		12 Months Ended
	May 05, 2022 item	Oct. 01, 2020	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Jan. 31, 2023 USD ($)
Related Party Transaction
Number of portfolios | item	2
Mr. Icahn and affiliates
Related Party Transaction
Percentage of assets under management				39%
Noncontrolling Interest in Variable Interest Entity				$ 2,100		$ 2,100
Brett Icahn
Related Party Transaction
Portfolio manager term	7 years	7 years
Number of lump sum payment after term | item	1
Auto Plus
Related Party Transaction
Repayment of notes receivable				11
Investment in funds | Mr. Icahn and affiliates
Related Party Transaction
Amount redeemed in accordance with manager agreement				0		80
Expense sharing arrangement | Consolidated VIE
Related Party Transaction
Amount of transaction with related party				5	$ 3
Debtor in Possession Financing | Auto Plus
Related Party Transaction
Aggregate amount							$ 75
Auto Plus Auction | AEP PLC
Related Party Transaction
Assets acquired				10
Automotive Segment
Related Party Transaction
Revenues from operating leases				15	16
Automotive Segment | Deconsolidation of Investment in Auto Plus | Auto Plus
Related Party Transaction
Revenues from operating leases			$ 2
Purchases from related party			3
Real Estate Segment
Related Party Transaction
Revenues from operating leases				3	$ 5
Real Estate Segment | Deconsolidation of Investment in Auto Plus | Auto Plus
Related Party Transaction
Revenues from operating leases			$ 2
Brett Icahn
Related Party Transaction
Investment funds total fair value				21		$ 28
Redemption of investment funds				$ 5

Investments - Investment Segmen

Investments - Investment Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Schedule of Investments
Investments	$ 3,315		$ 3,012
Securities sold, not yet purchased, at fair value	3,644		3,473
Total liabilities	14,439		14,785
Total assets	20,064		20,858
Net sales	2,244	$ 2,758
Cost of goods sold	1,987	2,260
Net loss	(26)	(358)
Net (loss) income attributable to investee shareholders	(38)	(270)
Investment Segment.
Schedule of Investments
Investments	3,203		2,898
Securities sold, not yet purchased, at fair value	3,644		3,473
Portion of unrealized (losses) gains that relates to equity and debt securities still held	(339)	$ (208)
Total liabilities	4,643		4,785
Total assets	9,940		10,145
Investment Segment. | Equity securities
Schedule of Investments
Equity securities	3,143		2,611
Securities sold, not yet purchased, at fair value	3,469		3,288
Investment Segment. | Communication
Schedule of Investments
Equity securities	12
Investment Segment. | Consumer, non-cyclical
Schedule of Investments
Equity securities	281		260
Securities sold, not yet purchased, at fair value	22		41
Investment Segment. | Consumer, cyclical
Schedule of Investments
Securities sold, not yet purchased, at fair value			3
Investment Segment. | Energy
Schedule of Investments
Equity securities	781		708
Securities sold, not yet purchased, at fair value	2,536		2,146
Investment Segment. | Financial
Schedule of Investments
Debt Securities			158
Investment Segment. | Utilities
Schedule of Investments
Equity securities	943		1,012
Securities sold, not yet purchased, at fair value	436		610
Investment Segment. | Healthcares
Schedule of Investments
Equity securities	543		440
Investment Segment. | Technology
Schedule of Investments
Equity securities	129		139
Investment Segment. | Materials
Schedule of Investments
Equity securities	322		52
Securities sold, not yet purchased, at fair value	309		350
Investment Segment. | Industrial
Schedule of Investments
Equity securities	132
Securities sold, not yet purchased, at fair value	166		138
Investment Segment. | Debt securities
Schedule of Investments
Debt Securities	60		287
Investment Segment. | Real Estate
Schedule of Investments
Debt Securities	42		44
Investment Segment. | Communications
Schedule of Investments
Debt Securities	18		85
Investment Segment. | Materials
Schedule of Investments
Securities sold, not yet purchased, at fair value	$ 175		$ 185

Investments - Other Segments an

Investments - Other Segments and Holding Company (Details) - USD ($) $ in Millions	15 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Schedule of Investments
Investments	$ 3,315	$ 3,012
Other Segments and Holding Company
Schedule of Investments
Investments	112	114
Portion of unrealized (losses) gains that relates to equity securities still held	0
Equity method investments | Other Segments and Holding Company
Schedule of Investments
Investments	98	100
Held-to-maturity Securities [Member] | Other Segments and Holding Company
Schedule of Investments
Investments	11	11
Other investments measured at fair value | Other Segments and Holding Company
Schedule of Investments
Investments	$ 3	$ 3

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurement (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets
Derivative assets, net	$ 24	$ 64
Liabilities
Securities sold, not yet purchased	3,644	3,473
Derivative liabilities, net	702	979
Recurring measurement
Assets
Investments	3,206	2,901
Derivative assets, net	24	64
Assets	3,230	2,965
Liabilities
Securities sold, not yet purchased	3,644	3,473
Derivative liabilities, net	702	979
RFS obligations	294	329
Liabilities	4,640	4,781
Recurring measurement | Level 1
Assets
Investments	3,105	2,730
Assets	3,105	2,730
Liabilities
Securities sold, not yet purchased	3,469	3,288
Liabilities	3,469	3,288
Recurring measurement | Level 2
Assets
Investments	60	129
Derivative assets, net	24	64
Assets	84	193
Liabilities
Securities sold, not yet purchased	175	185
Derivative liabilities, net	702	979
RFS obligations	294	329
Liabilities	1,171	1,493
Recurring measurement | Level 3
Assets
Investments	41	42
Assets	41	$ 42
Fair value, nonrecurring | Level 3
Liabilities
Estimated fair value	46
Fair value of related party note receivable	$ 11

Financial Instruments - Derivat

Financial Instruments - Derivative Activities Table (Details) - Investment Segment. - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Equity Contracts
Primary underlying risk:
Long Notional Exposure		$ 2,033	$ 1,882
Short Notional Exposure		2,292	2,350
Credit Contracts
Primary underlying risk:
Long Notional Exposure	[1]	0	0
Short Notional Exposure	[1]	392	435
Commodity Contracts
Primary underlying risk:
Long Notional Exposure		0	0
Short Notional Exposure		321	409
Credit Default Swap
Primary underlying risk:
Short notional amount of credit default swap positions		$ 2,400	$ 2,500
[1] The short notional amount on our credit default swap positions was approximately $2.4 billion and $2.5 billion at March 31, 2024 and December 31, 2023, respectively. However, because credit spreads cannot compress below zero , our downside short notional exposure to loss is approximately $0.4 billion and $0.4 billion as of March 31, 2024 and December 31, 2023, respectively.

Financial Instruments - Deriv_2

Financial Instruments - Derivatives Not Designated as Hedging, Fair Value Table (Details) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Derivatives Not Designated as Hedging Instruments, Fair Value
Unrealized Gain On Derivative Contracts		$ 24	$ 64
Derivative contracts, at fair value (liability)		$ 702	$ 979
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	[1]	Accrued Liabilities	Accrued Liabilities
Investment Segment
Derivatives Not Designated as Hedging Instruments, Fair Value
Collateral for derivative positions		$ 1,600	$ 1,700
Investment Segment | Not designated as hedging instrument
Derivatives Not Designated as Hedging Instruments, Fair Value
Derivative contracts, at fair value (liability)	[1]	693	979
Investment Segment | Not designated as hedging instrument | Other assets [Member]
Derivatives Not Designated as Hedging Instruments, Fair Value
Asset derivatives, Gross		71	64
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	(57)	(25)
Unrealized Gain On Derivative Contracts	[1]	14	39
Investment Segment | Not designated as hedging instrument | Accrued expenses and other liabilities
Derivatives Not Designated as Hedging Instruments, Fair Value
Liability derivatives, Gross		750	1,004
Derivative, Fair Value, Amount Offset Against Collateral, Net	[1]	(57)	(25)
Investment Segment | Not designated as hedging instrument | Equity Contracts | Other assets [Member]
Derivatives Not Designated as Hedging Instruments, Fair Value
Asset derivatives, Gross		52	11
Investment Segment | Not designated as hedging instrument | Equity Contracts | Accrued expenses and other liabilities
Derivatives Not Designated as Hedging Instruments, Fair Value
Liability derivatives, Gross		739	999
Investment Segment | Not designated as hedging instrument | Credit Contracts | Other assets [Member]
Derivatives Not Designated as Hedging Instruments, Fair Value
Asset derivatives, Gross		14	39
Investment Segment | Not designated as hedging instrument | Credit Contracts | Accrued expenses and other liabilities
Derivatives Not Designated as Hedging Instruments, Fair Value
Liability derivatives, Gross		2	2
Investment Segment | Not designated as hedging instrument | Commodity Contracts | Other assets [Member]
Derivatives Not Designated as Hedging Instruments, Fair Value
Asset derivatives, Gross		5	14
Investment Segment | Not designated as hedging instrument | Commodity Contracts | Accrued expenses and other liabilities
Derivatives Not Designated as Hedging Instruments, Fair Value
Liability derivatives, Gross		$ 9	$ 3
[1] Excludes netting of cash collateral received and posted. The total collateral posted at March 31, 2024 and December 31, 2023 was $1.6 billion and $1.7 billion, 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, 2024	Mar. 31, 2023
Net gain (loss) from investment activities
Derivative
Gain (loss) on derivatives not designated as hedging instruments recognized in income	$ 163	$ (247)
Equity Contracts
Derivative
Gain (loss) on derivatives not designated as hedging instruments recognized in income	236	(284)
Credit Contracts
Derivative
Gain (loss) on derivatives not designated as hedging instruments recognized in income	(43)	36
Commodity Contracts
Derivative
Gain (loss) on derivatives not designated as hedging instruments recognized in income	$ (30)	$ 1

Financial Instruments - Energy

Financial Instruments - Energy Segments Derivatives (Details) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative assets, net		$ 24	$ 64
Derivative liabilities		702	979
Collateral for derivative positions		4	13
Energy
Derivative [Line Items]
Asset derivatives, Gross	[1]	(10)	(6)
Derivative assets, net		10	25
Liability derivatives, Gross	[1]	(10)	(6)
Derivative liabilities		9
Commodity Contracts | Energy
Derivative [Line Items]
Asset derivatives, Gross		20	31
Liability derivatives, Gross		$ 19	$ 6
[1] Excludes netting of derivatives primarily related to initial margin requirements of $4 million and $13 million at March 31, 2024 and December 31, 2023, respectively, which was not offset against derivatives liabilities, net in the condensed consolidated balance sheets .

Financial Instruments - Narrati

Financial Instruments - Narrative (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($) BarrelOfButane MMBbls	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) MMBbls
Investment Segment
Derivatives, Fair Value
Fair value of derivative instruments with credit risk related contingent features in a liability position | $	$ 0		$ 0
Energy
Derivatives, Fair Value
Fair value of derivative instruments with credit risk related contingent features in a liability position | $	9,000,000
Energy | Not designated as hedging instrument | Cost of Goods and Service Benchmark
Derivatives, Fair Value
(Losses) gains on derivatives not designated as hedging instruments recognized in income | $	$ (18,000,000)	$ 45,000,000
CVR Energy | Maximum
Derivatives, Fair Value
Derivative volume (barrels)	1		1
Commodity swap positions | CVR Energy
Derivatives, Fair Value
Derivative volume (barrels)	7		11
Forward Contracts | CVR Energy
Derivatives, Fair Value
Derivative volume (barrels)	1
Forward Contracts | CVR Energy | Not designated as hedging instrument
Derivatives, Fair Value
Derivative, Number of Instruments Held | BarrelOfButane	16
Forward Contracts | CVR Energy | Maximum
Derivatives, Fair Value
Derivative volume (barrels)			1

Related Party Notes Receivabl_3

Related Party Notes Receivable, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Notes Receivable, Net
Related party notes receivable, gross	$ 23
Less: Allowance for expected credit losses	12		$ 12
Related party notes receivable, net	11		$ 11
Allowance for expected credit losses:
Beginning Balance	12
Write-offs	0	$ 0
Ending Balance	$ 12

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventories, Net
Raw materials	$ 345	$ 367
Work in process	110	95
Finished goods	584	585
Inventory, Net, Total	$ 1,039	$ 1,047

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net - Goodwill Table (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Goodwill
Gross carrying amount of goodwill	$ 378	$ 378
Accumulated impairment of goodwill	(90)	(90)
Goodwill	288	288
Automotive Segment
Goodwill
Gross carrying amount of goodwill	337	337
Accumulated impairment of goodwill	(87)	(87)
Goodwill	250	250
Food Packaging Segment
Goodwill
Gross carrying amount of goodwill	6	6
Goodwill	6	6
Home Fashion Segment
Goodwill
Gross carrying amount of goodwill	22	22
Accumulated impairment of goodwill	(3)	(3)
Goodwill	19	19
Pharma
Goodwill
Gross carrying amount of goodwill	13	13
Goodwill	$ 13	$ 13

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net - Definite-lived and Indefinite-lived Intangible Assets Table (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Definite-lived intangible assets:
Gross Carrying Amount	$ 810		$ 810
Accumulated Amortization	(434)		(420)
Net Carrying Value	376		390
Indefinite-lived intangible assets	76		76
Intangible assets, net	452		466
Amortization expense associated with definite-lived intangible assets	14	$ 15
Customer Relationships
Definite-lived intangible assets:
Gross Carrying Amount	392		392
Accumulated Amortization	(234)		(229)
Net Carrying Value	158		163
Developed Technology
Definite-lived intangible assets:
Gross Carrying Amount	254		254
Accumulated Amortization	(97)		(90)
Net Carrying Value	157		164
Unclassified Indefinite-lived Intangible Assets
Definite-lived intangible assets:
Gross Carrying Amount	164		164
Accumulated Amortization	(103)		(101)
Net Carrying Value	$ 61		$ 63

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Leases [Line Items]
Operating lease right-of-use asset	$ 513		$ 526
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets		Other Assets
Operating lease liability	$ 519		$ 531
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accrued Liabilities		Accrued Liabilities
Finance lease right-of-use asset	$ 54		$ 55
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net		Property, plant and equipment, net
Finance lease, liability	$ 68		$ 70
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities		Accrued Liabilities
Operating lease cost	$ 42	$ 41
Amortization of financing lease right-of-use assets	2	1
Interest expense on financing lease liabilities	$ 2	$ 1
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Operating Revenue	Other Operating Revenue
Property, plant and equipment, net	$ 3,940		$ 3,969
Real Estate Segment
Leases [Line Items]
Revenues from operating leases	3	$ 5
Property, plant and equipment, net	363		363
Real Estate Segment | Assets leased to others
Leases [Line Items]
Property, plant and equipment, net	255		252
Energy
Leases [Line Items]
Operating lease right-of-use asset	53		53
Operating lease liability	$ 50		$ 49
Lease term	5 years 3 months 18 days		5 years 4 months 24 days
Operating lease, discount rate percentage	6.80%		6.70%
Property, plant and equipment, net	$ 2,572		$ 2,594
Automotive Segment
Leases [Line Items]
Operating lease right-of-use asset	412		422
Operating lease liability	$ 424		$ 434
Lease term	5 years 3 months 18 days		5 years 4 months 24 days
Operating lease, discount rate percentage	5.90%		5.90%
Operating lease cost	$ 33	33
Variable lease costs	24	28
Revenues from operating leases	15	$ 16
Property, plant and equipment, net	822		$ 822
Food Packaging Segment
Leases [Line Items]
Operating lease right-of-use asset	21		22
Operating lease liability	$ 24		$ 25
Lease term	9 years		9 years 1 month 6 days
Operating lease, discount rate percentage	7.40%		7.40%
Property, plant and equipment, net	$ 129		$ 134
Other Segments and Holding Company
Leases [Line Items]
Operating lease right-of-use asset	27		29
Operating lease liability	$ 21		$ 23

Debt - Holding Company Debt (De

Debt - Holding Company Debt (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024	Feb. 29, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt	$ 6,608			$ 7,207
Revolving credit facility
Debt Instrument [Line Items]
Long-Term Line of Credit, Noncurrent	294
Letter of Credit [Member]
Debt Instrument [Line Items]
Long-Term Line of Credit, Noncurrent	24
Holding Company
Debt Instrument [Line Items]
Debt	4,847			4,847
Energy
Debt Instrument [Line Items]
Debt	1,585			2,185
Automotive Segment
Debt Instrument [Line Items]
Debt	29			33
Food Packaging Segment
Debt Instrument [Line Items]
Debt	138			133
Real Estate Segment
Debt Instrument [Line Items]
Debt	1			1
Home Fashion Segment
Debt Instrument [Line Items]
Debt	8			8
Reporting Segments
Debt Instrument [Line Items]
Debt	1,761			2,360
6.375% senior unsecured notes due 2025 | Holding Company
Debt Instrument [Line Items]
Debt	$ 749			$ 749
Interest rate on debt instrument	6.375%			6.375%
6.250% senior unsecured notes due 2026
Debt Instrument [Line Items]
Interest rate on debt instrument		6.25%
Debt face amount		$ 12
6.250% senior unsecured notes due 2026 | Holding Company
Debt Instrument [Line Items]
Debt	$ 1,238			$ 1,238
Interest rate on debt instrument	6.25%			6.25%
Debt face amount				$ 12
5.250% senior unsecured notes due 2027
Debt Instrument [Line Items]
Interest rate on debt instrument		5.25%		5.25%
Debt face amount		$ 5		$ 5
5.250% senior unsecured notes due 2027 | Holding Company
Debt Instrument [Line Items]
Debt	$ 1,454			$ 1,454
Interest rate on debt instrument	5.25%			5.25%
5.25% senior unsecured notes due 2025 | Energy
Debt Instrument [Line Items]
Interest rate on debt instrument			5.25%
Debt face amount			$ 600
Gain (Loss) on Extinguishment of Debt	$ (1)
4.375% senior unsecured notes due 2029 | Holding Company
Debt Instrument [Line Items]
Debt	$ 708			$ 708
Interest rate on debt instrument	4.375%			4.375%
9.750% senior unsecured notes due 2029 | Holding Company
Debt Instrument [Line Items]
Debt	$ 698			$ 698
Interest rate on debt instrument	9.75%			9.75%

Debt - Non-Cash Charges to Inte

Debt - Non-Cash Charges to Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Maximum
Debt Instrument [Line Items]
Amortization of deferred financing costs and debt discounts and premiums	$ 1	$ 1

Net Income (Loss) Per LP Unit_2

Net Income (Loss) Per LP Unit (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended
	Feb. 26, 2024	Apr. 30, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	May 09, 2023
Net Income (Loss) Per LP Unit [Line Items]
Net Income (Loss)			$ (38)	$ (270)
Net (loss) income attributable to Icahn Enterprises allocated to limited partners (98.01% allocation)			$ (37)	$ (265)
Basic loss per LP unit (in dollars per share)			$ (0.09)	$ (0.75)
Basic weighted average LP units outstanding (in shares)			429,000,000	354,000,000
Diluted loss per LP unit (in dollars per share)			$ (0.09)	$ (0.75)
Diluted weighted average LP units outstanding (in shares)			429,000,000	354,000,000
Aggregate cash distributions to depositary unit holders		$ 97
Limited partners: Depositary units issued		431,808,850	429,033,241
Partners' Capital Account, Units, Sale of Units			2,775,609
Limited partners: Depositary units issued			431,808,850
Proceeds from Sale of Interest in Partnership Unit			$ 50
Potential aggregate sales proceeds from equity offering			$ 99
Repurchase amount					$ 92
Antidilutive securities excluded from computation of earnings per share			10,000,000	6,000,000
Fixed-rate senior unsecured notes, repurchase program authorized amount						$ 500
Depositary units, repurchase program authorized amount						$ 500
Repurchased senior notes			$ 92
Limited partners
Net Income (Loss) Per LP Unit [Line Items]
Units distributed to LP unitholders		19,186,659
Distributions liability	$ 439
Amount of distribution per share	$ 1
Mr. Icahn and affiliates
Net Income (Loss) Per LP Unit [Line Items]
Aggregate cash distributions to depositary unit holders		$ 55
Units distributed to LP unitholders		18,016,077
Icahn Enterprises Holdings LP
Net Income (Loss) Per LP Unit [Line Items]
Affiliate ownership interest			98.01%

Segment Reporting - Condensed S

Segment Reporting - Condensed Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 2,244	$ 2,758
Other revenues from operations	183	187
Net loss from investment activities	(96)	(443)
Interest and dividend income	143	171
Loss on disposition of assets, net	(6)
Other loss (income), net	18	32
Total revenues	2,468	2,673
Cost of goods sold	1,987	2,260
Other expenses from operations	153	158
Selling, general and administrative	193	229
Loss on deconsolidation of subsidiary		226
Interest expense	136	142
Total Expenses	2,487	3,047
(Loss) income before income tax (expense) benefit	(19)	(374)
Income tax (expense) benefit	(7)	16
Net (loss) income	(26)	(358)
Less: net (loss) income from continuing operations attributable to non-controlling interests	12	(88)
Net (loss) income from continuing operations attributable to Icahn Enterprises	(38)	(270)
Capital expenditures	68	58
Depreciation and amortization	129	122
Investment Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net loss from investment activities	(96)	(443)
Interest and dividend income	105	144
Other loss (income), net	20	28
Total revenues	9	(299)
Selling, general and administrative	4	3
Interest expense	25	45
Total Expenses	49	76
(Loss) income before income tax (expense) benefit	(40)	(375)
Net (loss) income	(40)	(375)
Less: net (loss) income from continuing operations attributable to non-controlling interests	(17)	(204)
Net (loss) income from continuing operations attributable to Icahn Enterprises	(23)	(171)
Energy
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	1,863	2,286
Interest and dividend income	13	5
Loss on disposition of assets, net	(1)
Other loss (income), net	(4)	(3)
Total revenues	1,875	2,291
Cost of goods sold	1,713	1,926
Selling, general and administrative	42	46
Interest expense	33	23
Total Expenses	1,784	1,992
(Loss) income before income tax (expense) benefit	91	299
Income tax (expense) benefit	(13)	(52)
Net (loss) income	78	247
Less: net (loss) income from continuing operations attributable to non-controlling interests	29	115
Net (loss) income from continuing operations attributable to Icahn Enterprises	49	132
Capital expenditures	47	44
Depreciation and amortization	92	84
Automotive Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	219	287
Other revenues from operations	165	170
Interest and dividend income	1
Loss on disposition of assets, net	(5)
Total revenues	380	457
Cost of goods sold	152	193
Other expenses from operations	139	145
Selling, general and administrative	102	132
Total Expenses	393	470
(Loss) income before income tax (expense) benefit	(13)	(13)
Income tax (expense) benefit	4
Net (loss) income	(9)	(13)
Net (loss) income from continuing operations attributable to Icahn Enterprises	(9)	(13)
Capital expenditures	16	10
Depreciation and amortization	19	19
Food Packaging Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	101	118
Other loss (income), net	2	7
Total revenues	101	118
Cost of goods sold	80	91
Selling, general and administrative	13	14
Interest expense	3	3
Total Expenses	98	115
(Loss) income before income tax (expense) benefit	3	3
Income tax (expense) benefit	(1)	4
Net (loss) income	2	7
Less: net (loss) income from continuing operations attributable to non-controlling interests		1
Net (loss) income from continuing operations attributable to Icahn Enterprises	2	6
Capital expenditures	2	2
Depreciation and amortization	6	7
Real Estate Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	1	7
Other revenues from operations	17	16
Total revenues	18	23
Cost of goods sold	1	6
Other expenses from operations	14	13
Selling, general and administrative	5	4
Total Expenses	20	23
(Loss) income before income tax (expense) benefit	(2)
Net (loss) income	(2)
Net (loss) income from continuing operations attributable to Icahn Enterprises	(2)
Capital expenditures	2	2
Depreciation and amortization	3	3
Home Fashion Segment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	36	40
Total revenues	36	40
Cost of goods sold	27	32
Selling, general and administrative	10	10
Total Expenses	37	42
(Loss) income before income tax (expense) benefit	(1)	(2)
Net (loss) income	(1)	(2)
Net (loss) income from continuing operations attributable to Icahn Enterprises	(1)	(2)
Capital expenditures	1
Depreciation and amortization	2	2
Pharma
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	24	20
Other revenues from operations	1	1
Total revenues	25	21
Cost of goods sold	14	12
Selling, general and administrative	10	13
Total Expenses	24	25
(Loss) income before income tax (expense) benefit	1	(4)
Net (loss) income	1	(4)
Net (loss) income from continuing operations attributable to Icahn Enterprises	1	(4)
Depreciation and amortization	7	7
Holding Company
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Interest and dividend income	24	22
Total revenues	24	22
Selling, general and administrative	7	7
Loss on deconsolidation of subsidiary		226
Interest expense	75	71
Total Expenses	82	304
(Loss) income before income tax (expense) benefit	(58)	(282)
Income tax (expense) benefit	3	64
Net (loss) income	(55)	(218)
Net (loss) income from continuing operations attributable to Icahn Enterprises	$ (55)	$ (218)

Segment Reporting - Disaggregat

Segment Reporting - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Energy
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ 1,863	$ 2,286
Automotive Segment
Disaggregation of Revenue [Line Items]
Disaggregated revenue	369	441
Lease revenue outside scope ASC 606	15	16
Total Automotive net sales and other revenues from operations	384	457
Petroleum products | Energy
Disaggregation of Revenue [Line Items]
Disaggregated revenue	1,735	2,060
Nitrogen fertilizer products | Energy
Disaggregation of Revenue [Line Items]
Disaggregated revenue	128	226
Automotive Services | Automotive Segment
Disaggregation of Revenue [Line Items]
Disaggregated revenue	356	369
Aftermarket Parts
Disaggregation of Revenue [Line Items]
Disaggregated revenue	$ 13	$ 72

Segment Reporting - Condensed B

Segment Reporting - Condensed Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	$ 2,468	$ 2,951
Cash held at consolidated affiliated partnerships and restricted cash	2,565	2,995
Investments	3,315	3,012
Accounts receivable, net	447	485
Inventories, net	1,039	1,047
Related party notes receivable, net	11	11
Property, plant and equipment, net	3,940	3,969
Goodwill and intangible assets, net	740	754
Other assets	5,539	5,634
Total assets	20,064	20,858
Accounts payable, accrued expenses and other liabilities	4,187	4,105
Securities sold, not yet purchased, at fair value	3,644	3,473
Debt	6,608	7,207
Total liabilities	14,439	14,785
Equity attributable to Icahn Enterprises	2,781	3,208
Equity attributable to non-controlling interests	2,844	2,865
Total equity	5,625	6,073	$ 8,496	$ 9,558
Total Liabilities and Equity	20,064	20,858
Investment Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	6	23
Cash held at consolidated affiliated partnerships and restricted cash	2,379	2,799
Investments	3,203	2,898
Other assets	4,352	4,425
Total assets	9,940	10,145
Accounts payable, accrued expenses and other liabilities	999	1,312
Securities sold, not yet purchased, at fair value	3,644	3,473
Total liabilities	4,643	4,785
Equity attributable to Icahn Enterprises	3,202	3,243
Equity attributable to non-controlling interests	2,095	2,117
Total equity	5,297	5,360
Total Liabilities and Equity	9,940	10,145
Energy
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	644	1,179
Cash held at consolidated affiliated partnerships and restricted cash		7
Investments	98	100
Accounts receivable, net	253	286
Inventories, net	601	604
Property, plant and equipment, net	2,572	2,594
Goodwill and intangible assets, net	174	179
Other assets	287	310
Total assets	4,629	5,259
Accounts payable, accrued expenses and other liabilities	1,506	1,553
Debt	1,585	2,185
Total liabilities	3,091	3,738
Equity attributable to Icahn Enterprises	811	795
Equity attributable to non-controlling interests	727	726
Total equity	1,538	1,521
Total Liabilities and Equity	4,629	5,259
Automotive Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	64	104
Cash held at consolidated affiliated partnerships and restricted cash	8	9
Accounts receivable, net	41	41
Inventories, net	213	228
Property, plant and equipment, net	822	822
Goodwill and intangible assets, net	333	335
Other assets	477	480
Total assets	1,958	2,019
Accounts payable, accrued expenses and other liabilities	840	890
Debt	29	33
Total liabilities	869	923
Equity attributable to Icahn Enterprises	1,089	1,096
Total equity	1,089	1,096
Total Liabilities and Equity	1,958	2,019
Food Packaging Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	7	8
Accounts receivable, net	85	89
Inventories, net	118	111
Property, plant and equipment, net	129	134
Goodwill and intangible assets, net	23	23
Other assets	98	101
Total assets	460	466
Accounts payable, accrued expenses and other liabilities	136	148
Debt	138	133
Total liabilities	274	281
Equity attributable to Icahn Enterprises	169	168
Equity attributable to non-controlling interests	17	17
Total equity	186	185
Total Liabilities and Equity	460	466
Real Estate Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	33	22
Cash held at consolidated affiliated partnerships and restricted cash	4	4
Investments	14	14
Accounts receivable, net	16	16
Property, plant and equipment, net	363	363
Other assets	71	69
Total assets	501	488
Accounts payable, accrued expenses and other liabilities	55	43
Debt	1	1
Total liabilities	56	44
Equity attributable to Icahn Enterprises	440	439
Equity attributable to non-controlling interests	5	5
Total equity	445	444
Total Liabilities and Equity	501	488
Home Fashion Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	4	5
Cash held at consolidated affiliated partnerships and restricted cash	3	3
Accounts receivable, net	22	26
Inventories, net	85	81
Property, plant and equipment, net	50	52
Goodwill and intangible assets, net	19	19
Other assets	20	17
Total assets	203	203
Accounts payable, accrued expenses and other liabilities	44	42
Debt	8	8
Total liabilities	52	50
Equity attributable to Icahn Enterprises	151	153
Total equity	151	153
Total Liabilities and Equity	203	203
Pharma
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	18	26
Accounts receivable, net	30	27
Inventories, net	22	23
Goodwill and intangible assets, net	191	198
Other assets	7	8
Total assets	268	282
Accounts payable, accrued expenses and other liabilities	54	55
Total liabilities	54	55
Equity attributable to Icahn Enterprises	214	227
Total equity	214	227
Total Liabilities and Equity	268	282
Holding Company
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	1,692	1,584
Cash held at consolidated affiliated partnerships and restricted cash	171	173
Related party notes receivable, net	11	11
Property, plant and equipment, net	4	4
Other assets	227	224
Total assets	2,105	1,996
Accounts payable, accrued expenses and other liabilities	553	62
Debt	4,847	4,847
Total liabilities	5,400	4,909
Equity attributable to Icahn Enterprises	(3,295)	(2,913)
Total equity	(3,295)	(2,913)
Total Liabilities and Equity	$ 2,105	$ 1,996

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Taxes
Income tax expense	$ 7	$ (16)
(Loss) income before income tax (expense) benefit	$ (19)	$ (374)
Effective income tax rate	40.80%	4.30%
Statutory federal income tax rate	21%	21%

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Changes in Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss, Translation Adjustments, Net of Tax, Beginning Balance	$ (33)	$ (45)
Accumulated other comprehensive loss, Post-Retirement Benefits, Net of Tax, Beginning Balance	(22)	(25)
Accumulated other comprehensive loss, Beginning Balance	(55)	(70)
Other comprehensive income before reclassifications, net of tax Translation Adjustments, Net of Tax	(2)	4
Other comprehensive income before reclassifications, net of tax Total	(2)	4
Other comprehensive income, net of tax, Translation Adjustment, Net of Tax, Total	(2)	4
Other comprehensive income, net of tax	(2)	4
Accumulated other comprehensive loss, Translation Adjustments, Net of Tax, Ending Balance	(35)	(41)
Accumulated other comprehensive loss, Post-Retirement Benefits and Other, Net of Tax, Ending Balance	(22)	(25)
Accumulated other comprehensive loss, Total, Ending Balance	$ (57)	$ (66)

Other Loss, Net (Details)

Other Loss, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Component of Other Income (Loss), Net
Other loss, net	$ (18)	$ (32)
Dividend expense
Component of Other Income (Loss), Net
Other loss, net	(20)	(28)
Equity earnings from non-consolidated affiliates
Component of Other Income (Loss), Net
Other loss, net	4	2
Other
Component of Other Income (Loss), Net
Other loss, net	$ (2)	$ (6)

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Jan. 31, 2023
Loss Contingencies [Line Items]
Environmental loss contingency accrual	$ 5		$ 19
Minimum Carbon Dioxide Supply				$ 15
Maximum fee payable				$ 45
Starfire Holding Corporation
Loss Contingencies [Line Items]
Ownership percentage by principal owner	99.60%
Pension funding indemnity agreement with subsidiary	$ 250
ACF
Loss Contingencies [Line Items]
Funded status of related party pension plan	$ 39
Icahn Enterprises Holdings | ACF | Minimum
Loss Contingencies [Line Items]
Ownership percentage by principal owner	80%
Mr. Icahn and affiliates | Minimum
Loss Contingencies [Line Items]
Affiliate ownership interest	80%
Mr. Icahn and affiliates | Icahn Enterprises G.P.
Loss Contingencies [Line Items]
Affiliate ownership in parent company general partner	100%
Mr. Icahn and affiliates | Icahn Enterprises Holdings
Loss Contingencies [Line Items]
Affiliate ownership interest	85%
Energy
Loss Contingencies [Line Items]
Expense (benefit)	$ 51	$ 11
RFS position	294		$ 329
Insurance policies coverage limits	$ 50

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Supplemental Cash Flow Information
Cash payments for interest	$ (58)	$ (83)
Cash payments for income taxes, net of payments	(25)	(5)
Partnership contributions receivable		6
Non-cash Investment segment contributions to non-controlling interests		(2)
Partnership distributions payable	$ 439	(724)
Non-cash recognition of the related party note receivable		$ 188

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Millions		2 Months Ended
	May 06, 2024 D $ / shares	Dec. 31, 2023 USD ($)	Apr. 30, 2024 USD ($)	Mar. 31, 2024
Subsequent Events
Repurchase amount		$ 92
Holding Company
Subsequent Events
Repurchase amount		84
Extinguishment of debt, amount		$ 57
4.750% senior unsecured notes due 2024
Subsequent Events
Interest rate on debt instrument		4.75%
4.750% senior unsecured notes due 2024 | Holding Company
Subsequent Events
Debt face amount		$ 35
Interest rate on debt instrument		4.75%
4.375% senior unsecured notes due 2029
Subsequent Events
Debt face amount		$ 40
Interest rate on debt instrument		4.375%
5.250% senior unsecured notes due 2027
Subsequent Events
Debt face amount		$ 5	$ 5
Interest rate on debt instrument		5.25%	5.25%
5.250% senior unsecured notes due 2027 | Holding Company
Subsequent Events
Interest rate on debt instrument		5.25%		5.25%
6.250% senior unsecured notes due 2026
Subsequent Events
Debt face amount			$ 12
Interest rate on debt instrument			6.25%
6.250% senior unsecured notes due 2026 | Holding Company
Subsequent Events
Debt face amount		$ 12
Interest rate on debt instrument		6.25%		6.25%
Subsequent event
Subsequent Events
Distribution declared per LP unit | $ / shares	$ 1
Threshold number of specified trading days | D	5

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (38)	$ (270)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false