ICAHN ENTERPRISES L.P. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Icahn Enterprises L.P. filed its Q1 2024 10-Q, detailing financial performance across its diverse business segments.</b>

AI Summary

ICAHN ENTERPRISES L.P. (IEP) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Icahn Enterprises L.P. reported financial results for the quarter ending March 31, 2024. The filing includes data related to various segments including Energy, Automotive, and Real Estate. Key financial metrics and asset details are provided for the reporting period. The company's business address is listed as 16690 Collins Ave, Sunny Isles Beach, FL 33160. The filing was submitted on May 8, 2024.

Why It Matters

For investors and stakeholders tracking ICAHN ENTERPRISES L.P., this filing contains several important signals. This 10-Q provides investors with a quarterly update on Icahn Enterprises' financial health and operational performance across its various holdings. Understanding the segment-specific data and overall financial figures is crucial for assessing the company's current valuation and future prospects.

Risk Assessment

Risk Level: medium — ICAHN ENTERPRISES L.P. shows moderate risk based on this filing. The company operates in multiple diverse industries, which can lead to complex financial reporting and potential volatility across different segments.

Analyst Insight

Review the segment-specific revenue and net income figures to identify performance trends and potential areas of concern or growth within Icahn Enterprises' portfolio.

Revenue Breakdown

Key Numbers

• 429000000 — Other Assets (As of March 31, 2024)
• 354000000 — Accrued Liabilities Current and Noncurrent (As of March 31, 2024)
• 431808850 — Property, Plant and Equipment Net (As of March 31, 2024)
• 429033241 — Accrued Liabilities Current and Noncurrent (As of March 31, 2024)
• 0.09 — Revenue Growth (Year-over-year for a specific segment)
• 0.75 — Revenue Growth (Year-over-year for a specific segment)

Key Players & Entities

• ICAHN ENTERPRISES L.P. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-08 (date) — Filed as of date
• 16690 COLLINS AVE, PH-1 (address) — Business address
• SUNNY ISLES BEACH (location) — Business address city
• FL (location) — Business address state
• 33160 (postal_code) — Business address zip
• AMERICAN REAL ESTATE PARTNERS L P (company) — Former company name

FAQ

Risk Factors

• Diversified Business Operations [medium — financial]: The company operates across multiple, diverse industries, which can lead to varied financial performance and increased complexity in reporting.
• Segment Performance Variability [medium — operational]: Performance can fluctuate significantly across different business segments, impacting overall financial results.

Filing Documents

• tmb-20240331x10q.htm (10-Q) — 2803KB
• tmb-20240331xex31d1.htm (EX-31.1) — 10KB
• tmb-20240331xex31d2.htm (EX-31.2) — 10KB
• tmb-20240331xex32d1.htm (EX-32.1) — 8KB
• 0001558370-24-007379.txt (&nbsp;) — 13557KB
• tmb-20240331.xsd (EX-101.SCH) — 75KB
• tmb-20240331_cal.xml (EX-101.CAL) — 53KB
• tmb-20240331_def.xml (EX-101.DEF) — 289KB
• tmb-20240331_lab.xml (EX-101.LAB) — 549KB
• tmb-20240331_pre.xml (EX-101.PRE) — 466KB
• tmb-20240331x10q_htm.xml (XML) — 3460KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 2 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 4 .

Controls and Procedures

Controls and Procedures 49

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 50 Item 1A.

Risk Factors

Risk Factors 50 Item 5. Other Information 50 Item 6. Exhibits 50 i Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Report contains certain statements that are, or may be deemed to be, "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or by the Private Securities Litigation Reform Act. All statements included in this Report, other than statements that relate solely to historical fact, are "forward-looking statements." Such statements include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events, or any statement that may relate to strategies, plans or objectives for, or potential results of, future operations, financial results, financial condition, business prospects, growth strategy or liquidity, and are based upon management's current plans and beliefs or current estimates of future results or trends. Forward-looking statements can generally be identified by phrases such as "believes," "expects," "potential," "continues," "may," "should," "seeks," "predicts," "anticipates," "intends," "projects," "estimates," "plans," "could," "designed," "should be" and other similar expressions that denote expectations of future or conditional events rather than statements of fact. Forward-looking statements include certain statements made under the caption, "Management's Discussion and Analysis of Financial Condition and Results of Operations," under Part I, Item 2 of this Report, but also forward-looking statements that appear in other parts of this Report. Forward-looking statements reflect our current views with respect to future events and are based on certain assumptions and are subject to risks and uncertainties that could cause our actual results to differ materially from trends, plans, or expectations set forth in the forward-looking statements. These include risks related to economic downturns, substantial competition and ri

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ICAHN ENTERPRISES L.P. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) March 31, December 31, 2024 2023 (in millions, except unit amounts) 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, net 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 18) 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 See notes to condensed consolidated financial statements. 2 Table of Contents ICAHN ENTERPRISES L.P. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended March 31, 2024 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

View Full Filing

View this 10-Q filing on SEC EDGAR