0001104659-26-019821 | 10-K | XBRL Viewer

iep_UnrealizedGainOnDerivativeContracts

7,000,000

iep_UnrealizedGainOnDerivativeContracts

22,000,000

iep_UnrealizedGainOnDerivativeContracts

7,000,000

iep_UnrealizedGainOnDerivativeContracts

7,000,000

iep_UnrealizedGainOnDerivativeContracts

22,000,000

iep_UnrealizedGainOnDerivativeContracts

22,000,000

iep_UnrealizedGainOnDerivativeContracts

18,000,000

^[1]

iep_NetSales

8,631,000,000

iep_NetSales

9,193,000,000

iep_NetSales

11,077,000,000

iep_NetSales

iep_NetSales

7,162,000,000

iep_NetSales

835,000,000

iep_NetSales

364,000,000

iep_NetSales

1,000,000

iep_NetSales

170,000,000

iep_NetSales

99,000,000

iep_NetSales

iep_NetSales

7,610,000,000

iep_NetSales

877,000,000

iep_NetSales

404,000,000

iep_NetSales

21,000,000

iep_NetSales

176,000,000

iep_NetSales

105,000,000

iep_NetSales

9,247,000,000

iep_NetSales

1,047,000,000

iep_NetSales

446,000,000

iep_NetSales

69,000,000

iep_NetSales

175,000,000

iep_NetSales

93,000,000

iep_NetSales

8,287,000,000

iep_NetSales

8,837,000,000

iep_NetSales

10,687,000,000

iep_NetSales

344,000,000

iep_NetSales

356,000,000

iep_NetSales

390,000,000

iep_OtherOperatingRevenue

664,000,000

iep_OtherOperatingRevenue

707,000,000

iep_OtherOperatingRevenue

770,000,000

iep_OtherOperatingRevenue

iep_OtherOperatingRevenue

iep_OtherOperatingRevenue

601,000,000

iep_OtherOperatingRevenue

iep_OtherOperatingRevenue

58,000,000

iep_OtherOperatingRevenue

iep_OtherOperatingRevenue

5,000,000

iep_OtherOperatingRevenue

iep_OtherOperatingRevenue

628,000,000

iep_OtherOperatingRevenue

75,000,000

iep_OtherOperatingRevenue

4,000,000

iep_OtherOperatingRevenue

694,000,000

iep_OtherOperatingRevenue

73,000,000

iep_OtherOperatingRevenue

3,000,000

iep_OtherOperatingRevenue

633,000,000

iep_OtherOperatingRevenue

677,000,000

iep_OtherOperatingRevenue

742,000,000

iep_OtherOperatingRevenue

31,000,000

iep_OtherOperatingRevenue

30,000,000

iep_OtherOperatingRevenue

28,000,000

iep_CostOfGoodsSoldNew

7,978,000,000

iep_CostOfGoodsSoldNew

8,619,000,000

iep_CostOfGoodsSoldNew

9,327,000,000

iep_CostOfGoodsSoldNew

iep_CostOfGoodsSoldNew

6,860,000,000

iep_CostOfGoodsSoldNew

591,000,000

iep_CostOfGoodsSoldNew

327,000,000

iep_CostOfGoodsSoldNew

1,000,000

iep_CostOfGoodsSoldNew

139,000,000

iep_CostOfGoodsSoldNew

60,000,000

iep_CostOfGoodsSoldNew

iep_CostOfGoodsSoldNew

7,450,000,000

iep_CostOfGoodsSoldNew

628,000,000

iep_CostOfGoodsSoldNew

336,000,000

iep_CostOfGoodsSoldNew

15,000,000

iep_CostOfGoodsSoldNew

135,000,000

iep_CostOfGoodsSoldNew

55,000,000

iep_CostOfGoodsSoldNew

8,019,000,000

iep_CostOfGoodsSoldNew

714,000,000

iep_CostOfGoodsSoldNew

352,000,000

iep_CostOfGoodsSoldNew

48,000,000

iep_CostOfGoodsSoldNew

138,000,000

iep_CostOfGoodsSoldNew

56,000,000

iep_CostOfOtherRevenueFromOperations

599,000,000

iep_CostOfOtherRevenueFromOperations

603,000,000

iep_CostOfOtherRevenueFromOperations

643,000,000

iep_CostOfOtherRevenueFromOperations

iep_CostOfOtherRevenueFromOperations

iep_CostOfOtherRevenueFromOperations

537,000,000

iep_CostOfOtherRevenueFromOperations

iep_CostOfOtherRevenueFromOperations

62,000,000

iep_CostOfOtherRevenueFromOperations

iep_CostOfOtherRevenueFromOperations

iep_CostOfOtherRevenueFromOperations

iep_CostOfOtherRevenueFromOperations

536,000,000

iep_CostOfOtherRevenueFromOperations

67,000,000

iep_CostOfOtherRevenueFromOperations

581,000,000

iep_CostOfOtherRevenueFromOperations

62,000,000

iep_DividendExpenses

35,000,000

iep_DividendExpenses

56,000,000

iep_DividendExpenses

87,000,000

iep_DividendExpenses

35,000,000

iep_DividendExpenses

iep_DividendExpenses

iep_DividendExpenses

iep_DividendExpenses

iep_DividendExpenses

iep_DividendExpenses

iep_DividendExpenses

iep_DividendExpenses

56,000,000

Impairment on Related Party Note Receivable, Net

iep_DividendExpenses

87,000,000

iep_ImpairmentOnRelatedPartyNoteReceivableNet

139,000,000

Impairment on Related Party Note Receivable, Net

iep_ImpairmentOnRelatedPartyNoteReceivableNet

139,000,000

Comprehensive Income Attributable To Limited Partner Net Of Tax

iep_ComprehensiveIncomeAttributableToLimitedPartnerNetOfTax

(281,000,000)

Comprehensive Income Attributable To Limited Partner Net Of Tax

iep_ComprehensiveIncomeAttributableToLimitedPartnerNetOfTax

(442,000,000)

Comprehensive Income Attributable To Limited Partner Net Of Tax

iep_ComprehensiveIncomeAttributableToLimitedPartnerNetOfTax

(656,000,000)

Comprehensive Income Attributable To General Partner Net Of Tax

iep_ComprehensiveIncomeAttributableToGeneralPartnerNetOfTax

(6,000,000)

Comprehensive Income Attributable To General Partner Net Of Tax

iep_ComprehensiveIncomeAttributableToGeneralPartnerNetOfTax

(9,000,000)

Comprehensive Income Attributable To General Partner Net Of Tax

iep_ComprehensiveIncomeAttributableToGeneralPartnerNetOfTax

(13,000,000)

iep_InvestmentSegmentDistributions

(2,197,000,000)

iep_InvestmentSegmentDistributions

(2,197,000,000)

iep_InvestmentSegmentDistributions

(511,000,000)

iep_InvestmentSegmentDistributions

(511,000,000)

iep_InvestmentSegmentDistributions

(526,000,000)

Investment Segment Contributions

iep_InvestmentSegmentDistributions

(526,000,000)

iep_InvestmentSegmentContributions

1,000,000

Investment Segment Contributions

iep_InvestmentSegmentContributions

1,000,000

Payment to Acquire Securities

iep_PaymentToAcquireSecurities

1,372,000,000

Payment to Acquire Securities

iep_PaymentToAcquireSecurities

1,925,000,000

Payment to Acquire Securities

iep_PaymentToAcquireSecurities

963,000,000

Proceeds from sales of securities

iep_ProceedsFromSaleOfSecurities

1,990,000,000

Proceeds from sales of securities

iep_ProceedsFromSaleOfSecurities

1,474,000,000

Proceeds from sales of securities

iep_ProceedsFromSaleOfSecurities

4,537,000,000

Purchases to Cover Securities Sold Not Yet Purchased

iep_PurchasesToCoverSecuritiesSoldNotYetPurchased

773,000,000

Purchases to Cover Securities Sold Not Yet Purchased

iep_PurchasesToCoverSecuritiesSoldNotYetPurchased

2,227,000,000

Purchases to Cover Securities Sold Not Yet Purchased

iep_PurchasesToCoverSecuritiesSoldNotYetPurchased

4,692,000,000

Payments For Turnaround Expenditures

iep_PaymentsForTurnaroundExpenditures

197,000,000

Payments For Turnaround Expenditures

iep_PaymentsForTurnaroundExpenditures

53,000,000

Payments For Turnaround Expenditures

iep_PaymentsForTurnaroundExpenditures

57,000,000

Proceeds From Payments For Investment Segment Distributions

iep_ProceedsFromPaymentsForInvestmentSegmentDistributions

(526,000,000)

Proceeds From Payments For Investment Segment Distributions

iep_ProceedsFromPaymentsForInvestmentSegmentDistributions

(511,000,000)

Proceeds From Payments For Investment Segment Distributions

iep_ProceedsFromPaymentsForInvestmentSegmentDistributions

(2,199,000,000)

Proceeds From Payments For Investment Segment Distributions

iep_ProceedsFromPaymentsForInvestmentSegmentDistributions

394,000,000

Proceeds From Payments For Investment Segment Distributions

iep_ProceedsFromPaymentsForInvestmentSegmentDistributions

242,000,000

Payments For Additional Interests In Consolidated Subsidiaries

iep_PaymentsForAdditionalInterestsInConsolidatedSubsidiaries

72,000,000

Payments For Additional Interests In Consolidated Subsidiaries

iep_PaymentsForAdditionalInterestsInConsolidatedSubsidiaries

13,000,000

Payments For Additional Interests In Consolidated Subsidiaries

iep_PaymentsForAdditionalInterestsInConsolidatedSubsidiaries

(158,000,000)

iep_PaymentsForRepurchaseOfSeniorUnsecuredDebt

46,000,000

iep_PaymentsForRepurchaseOfSeniorUnsecuredDebt

168,000,000

iep_PaymentsForRepurchaseOfSeniorUnsecuredDebt

21,000,000

iep_PaymentsForRepurchaseOfSeniorUnsecuredDebt

46,000,000

iep_PaymentsForRepurchaseOfSeniorUnsecuredDebt

168,000,000

Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Aggregate Ownership interest of Parent and Holding Company Subsidiaries

iep_PaymentsForRepurchaseOfSeniorUnsecuredDebt

$ 168,000,000

iep_LimitedLiabilityCompanyLlcOrLimitedPartnershipLpManagingMemberOrGeneralPartnerAggregateOwnershipInterestOfParentAndHoldingCompanySubsidiaries

1.99%

Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Aggregate Ownership interest of Parent and Holding Company Subsidiaries

iep_LimitedLiabilityCompanyLlcOrLimitedPartnershipLpManagingMemberOrGeneralPartnerAggregateOwnershipInterestOfParentAndHoldingCompanySubsidiaries

1.99%

Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest, Fair Value

iep_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterestFairValue

$ 2,700,000,000

Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest, Fair Value

iep_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipOwnershipInterestFairValue

$ 2,700,000,000

Number of Shares Acquired

iep_NumberOfSharesAcquired

3,726,090

Number of Shares Acquired

iep_NumberOfSharesAcquired

783,404

Number of Partnership Units Acquired

iep_NumberOfPartnershipUnitsAcquired

98,082

Real Estate Owned, Transfer Between Segments

iep_RealEstateOwnedTransferBetweenSegments

$ 465,000,000

Real Estate Owned, Transfer Between Segments

iep_RealEstateOwnedTransferBetweenSegments

$ 465,000,000

Number Of Approved Therapies

iep_NumberOfApprovedTherapies

Number Of Product Candidate In Active Clinical Development

iep_NumberOfProductCandidateInActiveClinicalDevelopment

Number of Product Candidates in Early Stage Development

iep_NumberOfProductCandidatesInEarlyStageDevelopment

Held for sale policy [Policy Text Block]

iep_HeldforsalepolicyPolicyTextBlock

Discontinued Operations and Assets Held For Sale

We classify assets and liabilities as held for sale when management, having the authority to approve the action, commits to a plan to sell the disposal group, the sale is probable within one year, and the disposal group is available for immediate sale in its present condition. We also consider whether an active program to locate a buyer has been initiated, whether the disposal group is marketed actively for sale at a price that is reasonable in relation to its current fair value, and whether actions required to complete the plan indicate it is unlikely significant changes to the plan will be made or the plan will be withdrawn.

Our assets held for sale were $25 million as of December 31, 2024, all of which relates to certain properties in our Real Estate segment. In November 2024, we entered into a purchase and sale agreement to sell certain properties, which closed in August 2025.

In accordance with U.S. GAAP, we classify operations as discontinued when they meet all the criteria to be classified as held for sale and when the sale represents a strategic shift that will have a major impact on our financial condition and results of operations.

Common control acquisitions and dispositions [Policy Text Block]

iep_CommonControlAcquisitionsAndDispositionsPolicyTextBlock

Acquisition, Investments and Disposition of Entities under Common Control

Acquisitions of or investments in entities under common control are reflected in a manner similar to pooling of interests. The general partner’s capital account or non-controlling interests, as applicable, are charged or credited for the difference between the consideration we pay for the entity and the related entity’s basis prior to our acquisition or investment. Net gains or losses of an acquired entity prior to its acquisition or investment date are allocated to the general partner’s capital account or non-controlling interests, as applicable. In allocating gains and losses upon the sale of a previously acquired common control entity, we allocate a gain or loss for financial reporting purposes by first restoring the general partner’s capital account or non-controlling interests, as applicable, for the cumulative charges or credits relating to prior periods recorded at the time of our acquisition or investment and then allocating the remaining gain or loss (“Common Control Gains or Losses”) among our general partner, limited partners and non-controlling interests, as applicable, in accordance with their respective ownership percentages. In the case of acquisitions of entities under common control, such Common Control Gains or Losses are allocated in accordance with their respective partnership percentages under the Amended and Restated Agreement of Limited Partnership dated as of May 12, 1987, as amended from time to time (together with the partnership agreement of Icahn Enterprises Holdings, the “Partnership Agreement”) (i.e., 98.01% to the limited partners and 1.99% to the general partner).

Statement Of cash Flow Policy Text Block

iep_StatementOfCashFlowPolicyTextBlock

Cash Flow

Cash and cash equivalents and restricted cash and restricted cash equivalents in our consolidated statements of cash flows is comprised of (i) cash and cash equivalents and (ii) cash held at consolidated affiliated partnerships and restricted cash.

Carrying Value Equity Method Investment

iep_CarryingValueEquityMethodInvestment

$ 74,000,000

Carrying Value Of Equity Investment And Related Party Loan Receivable

iep_CarryingValueOfEquityInvestmentAndRelatedPartyLoanReceivable

203,000,000

Property Plant and Equipment, Carrying Value Impacted For Change in Useful Life

iep_PropertyPlantAndEquipmentCarryingValueImpactedForChangeInUsefulLife

$ 93,000,000

Accumulated Other Comprehensive Loss Policy [Policy Text Block]

iep_AccumulatedOtherComprehensiveLossPolicyPolicyTextBlock

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss is included in the limited partners and general partner components of equity in the consolidated balance sheets in the amounts of $49 million and $61 million as of December 31, 2025 and 2024, respectively. Refer to Note 17, “Changes in Accumulated Other Comprehensive Loss,” for further information.

Allocation of profits and losses in consolidated affiliated partnerships [Policy Text Block]

iep_AllocationOfProfitsAndLossesInConsolidatedAffiliatedPartnershipsPolicyTextBlock

Allocation of Net Profits and Losses in Consolidated Affiliated Partnerships

Net investment income and net realized and unrealized gains and losses on investments of the Investment Funds are allocated to the respective partners of the Investment Funds based on their percentage ownership in such Investment Funds on a monthly basis. Except for our limited partner interest, such allocations made to the limited partners of the Investment Funds are represented as non-controlling interests in our consolidated statements of operations.

General partnership policy [Policy Text Block]

iep_GeneralPartnershipPolicyPolicyTextBlock

General Partnership Interest of Icahn Enterprises

The general partner’s capital account generally consists of its cumulative share of our net income less cash distributions plus capital contributions. Additionally, in acquisitions of common control companies accounted for at historical cost similar to a pooling of interests, the general partner’s capital account would be charged (or credited) in a manner similar to a distribution (or contribution) for the excess (or deficit) of the fair value of consideration paid over historical basis in the business acquired.

Capital Accounts, as defined under the Partnership Agreement, are maintained for our general partner and our limited partners. The capital account provisions of our Partnership Agreement incorporate principles established for U.S. federal income tax purposes and are not comparable to the equity accounts reflected under U.S. GAAP in our consolidated financial statements. Under our Partnership Agreement, the general partner is required to make additional capital contributions to us upon the issuance of any additional depositary units in order to maintain a capital account balance equal to 1.99% of the total capital accounts of all partners.

Generally, net earnings for U.S. federal income tax purposes are allocated 1.99% and 98.01% between the general partner and the limited partners, respectively, in the same proportion as aggregate cash distributions made to the general partner and the limited partners during the period. This is generally consistent with the manner of allocating net income under our Partnership Agreement; however, it is not comparable to the allocation of net income reflected in our consolidated financial statements.

Pursuant to the Partnership Agreement, in the event of our dissolution, after satisfying our liabilities, our remaining assets would be divided among our limited partners and the general partner in accordance with their respective percentage interests under the Partnership Agreement. If a deficit balance still remains in the general partner’s capital account after all allocations are made between the partners, the general partner would not be required to make whole any such deficit.

Revenue Current Portion Of Remaining Performance Obligations

iep_RevenueCurrentPortionOfRemainingPerformanceObligations

$ 4,000,000

Revenue Current Portion Of Remaining Performance Obligations

iep_RevenueCurrentPortionOfRemainingPerformanceObligations

3,000,000

Recorded Revenue With Respect To Deferred Revenue Outstanding

iep_RecordedRevenueWithRespectToDeferredRevenueOutstanding

50,000,000

Recorded Revenue With Respect To Deferred Revenue Outstanding

iep_RecordedRevenueWithRespectToDeferredRevenueOutstanding

16,000,000

Recorded Revenue With Respect To Deferred Revenue Outstanding

iep_RecordedRevenueWithRespectToDeferredRevenueOutstanding

46,000,000

Recorded Revenue With Respect To Deferred Revenue Outstanding

iep_RecordedRevenueWithRespectToDeferredRevenueOutstanding

20,000,000

Recorded Revenue With Respect To Deferred Revenue Outstanding

iep_RecordedRevenueWithRespectToDeferredRevenueOutstanding

22,000,000

Recorded Revenue With Respect To Deferred Revenue Outstanding

iep_RecordedRevenueWithRespectToDeferredRevenueOutstanding

$ 22,000,000

Other Revenue and Expense Recognition [Policy Text Block]

iep_OtherRevenueAndExpenseRecognitionPolicyTextBlock

Other Revenue and Expense Recognition

Real Estate

Revenue Recognition: Revenue from real estate sales and related costs are recognized at the time of closing primarily by specific identification. The properties comprising our net lease portfolio are leased to others under long-term net leases classified as operating leases and we account for these leases in accordance with applicable U.S. GAAP. Operating lease revenue is recognized on a straight-line basis over the lease term.

Energy

Shipping Costs: Our Energy segment’s pass-through finished goods delivery costs reimbursed by customers are reported in net sales, while an offsetting expense is included in cost of goods sold.

Automotive

Shipping Costs: Our Automotive segment recognizes shipping and handling costs as incurred and is included in selling, general and administrative in the consolidated statements of operations for its Aftermarkets Parts business which was substantially exited in 2024.

Subsidiary Bankruptcy And Deconsolidation, Number Of Sales Of Auto Plus Assets

iep_SubsidiaryBankruptcyAndDeconsolidationNumberOfSalesOfAutoPlusAssets

Subsidiary Bankruptcy And Deconsolidation, Number Of Sales Of Auto Plus Assets, Number Of Bidders

iep_SubsidiaryBankruptcyAndDeconsolidationNumberOfSalesOfAutoPlusAssetsNumberOfBidders

Subsidiary Bankruptcy And Deconsolidation Credit Bid for Portion of its Senior Secured Debtor-in-Possession Loan

iep_SubsidiaryBankruptcyAndDeconsolidationCreditBidForPortionOfItsSeniorSecuredDebtorInPossessionLoan

$ 10,000,000

Subsidiary Deconsolidation, Non Cash Charges

iep_SubsidiaryDeconsolidationNonCashCharges

$ 246,000,000

Variable Interest Entities Assets Under Management Percentage

iep_VariableInterestEntitiesAssetsUnderManagementPercentage

25.00%

Variable Interest Entities Assets Under Management Percentage

iep_VariableInterestEntitiesAssetsUnderManagementPercentage

35.00%

Amount Redeemed From Investment Funds

iep_AmountRedeemedFromInvestmentFunds

$ 508,000,000

Amount Redeemed From Investment Funds

iep_AmountRedeemedFromInvestmentFunds

$ 250,000,000,000

Portfolio Manager Term

iep_PortfolioManagerTerm

7 years

Portfolio Manager Term

iep_PortfolioManagerTerm

7 years

Number of Portfolios

iep_NumberOfPortfolios

Number Of Lump Sum Payments After Term

iep_NumberOfLumpSumPaymentsAfterTerm

iep_RelatedPartyTransactionAmountRedeemedInAccordanceWithManagerAgreement

$ 18,000,000

iep_RelatedPartyTransactionAmountRedeemedInAccordanceWithManagerAgreement

4,000,000

Investment Funds Total Fair Value

iep_InvestmentFundsTotalFairValue

4,000,000

Investment Funds Total Fair Value

iep_InvestmentFundsTotalFairValue

$ 17,000,000

Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vesting Period

iep_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestingPeriod

7 years

iep_InvestmentsMeasuredAtFairValue

$ 2,108,000,000

iep_InvestmentsMeasuredAtFairValue

41,000,000

iep_InvestmentsMeasuredAtFairValue

2,149,000,000

iep_InvestmentsMeasuredAtFairValue

2,203,000,000

iep_InvestmentsMeasuredAtFairValue

31,000,000

iep_InvestmentsMeasuredAtFairValue

41,000,000

iep_InvestmentsMeasuredAtFairValue

2,275,000,000

iep_NotionalExposureOfDerivativesLongPosition

1,499,000,000

iep_NotionalExposureOfDerivativesLongPosition

1,813,000,000

iep_NotionalExposureOfDerivativesLongPosition

185,000,000

iep_NotionalExposureOfDerivativesLongPosition

iep_NotionalExposureOfDerivativesShortPosition

2,386,000,000

iep_NotionalExposureOfDerivativesShortPosition

1,845,000,000

iep_NotionalExposureOfDerivativesShortPosition

55,000,000

iep_NotionalExposureOfDerivativesShortPosition

346,000,000