Icahn Enterprises LP (IEP) financial statements: income statement, balance sheet and cash flow
Icahn Enterprises LP's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Icahn Enterprises LP reported revenue of $9.7B (-3.6% year on year) and net income of ($326.0M) (+39.9% year on year).
Income statement
Icahn Enterprises LP income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net sales
$8.6B
$9.2B
$11.1B
$13.4B
Other revenues from operations
$664.0M
$707.0M
$770.0M
$748.0M
Net loss from investment activities
($183.0M)
($421.0M)
($1.6B)
—
Interest and dividend income
$288.0M
$477.0M
$636.0M
$328.0M
Gain (loss) on disposition of assets, net
$247.0M
($4.0M)
$8.0M
($8.0M)
Other income, net
$11.0M
$68.0M
—
—
Total revenues
$9.7B
$10.0B
$10.8B
$14.1B
Cost of goods sold
$8.0B
$8.6B
$9.3B
$11.7B
Other expenses from operations
$599.0M
$603.0M
$643.0M
$583.0M
Selling, general and administrative
$837.0M
$783.0M
$852.0M
$1.3B
Dividend expense
$35.0M
$56.0M
—
—
Restructuring, net
$10.0M
$3.0M
$1.0M
$2.0M
Impairment
$40.0M
—
$7.0M
$0
Interest expense
$504.0M
$523.0M
$554.0M
$568.0M
Total Expenses
$10.0B
$10.6B
$11.8B
$14.1B
Loss before income tax benefit (expense)
($345.0M)
($567.0M)
($922.0M)
$9.0M
Income tax benefit (expense)
$19.0M
$25.0M
($90.0M)
($34.0M)
Net loss
($326.0M)
($542.0M)
($1.0B)
($25.0M)
Less: net loss attributable to non-controlling interests
($27.0M)
($97.0M)
($328.0M)
$158.0M
Limited partners
($293.0M)
($436.0M)
($670.0M)
($179.0M)
General partner
($6.0M)
($9.0M)
($14.0M)
($4.0M)
Net loss attributable to Icahn Enterprises
($299.0M)
($445.0M)
($684.0M)
($183.0M)
Basic loss per LP unit (in dollars per share)
-$0.52
-$0.94
-$1.75
-$0.57
Basic weighted average LP units outstanding (in shares)
562.0M
466.0M
382.0M
316.0M
Diluted loss per LP unit (in dollars per share)
-$0.52
-$0.94
-$1.75
-$0.57
Diluted weighted average LP units outstanding (in shares)
562.0M
466.0M
382.0M
316.0M
Distributions declared per LP unit (in dollars per share)
$2.00
$3.50
$6.00
$8.00
Icahn Enterprises LP income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net sales
$3.1B
$2.3B
$2.3B
$2.1B
Other revenues from operations
$175.0M
$161.0M
$168.0M
$172.0M
Net loss from investment activities
($334.0M)
($302.0M)
($48.0M)
($74.0M)
Interest and dividend income
$49.0M
$47.0M
$70.0M
$69.0M
(Loss) gain on disposition of assets, net
($1.0M)
($2.0M)
$218.0M
$47.0M
Other income (loss), net
$5.0M
($9.0M)
$1.0M
$12.0M
Total Revenues
$3.0B
$2.2B
$2.7B
$2.4B
Cost of goods sold
$2.9B
$2.3B
$1.7B
$2.1B
Other expenses from operations
$147.0M
$141.0M
$150.0M
$154.0M
Selling, general and administrative
$203.0M
$209.0M
$218.0M
$207.0M
Dividend expense
$5.0M
$5.0M
$10.0M
$7.0M
Restructuring, net
$2.0M
—
$2.0M
($2.0M)
Interest expense
$121.0M
$123.0M
$122.0M
$129.0M
Total Expenses
$3.4B
$2.8B
$2.2B
$2.6B
Loss before income tax expense
($386.0M)
($612.0M)
$538.0M
($246.0M)
Income tax (expense) benefit
($2.0M)
$49.0M
($127.0M)
$45.0M
Net loss
($388.0M)
($563.0M)
$411.0M
($201.0M)
Less: net loss attributable to non-controlling interests
($33.0M)
($104.0M)
$124.0M
($36.0M)
Limited partners
($348.0M)
($450.0M)
$281.0M
($162.0M)
General partner
($7.0M)
($9.0M)
$6.0M
($3.0M)
Net loss attributable to Icahn Enterprises
($355.0M)
($459.0M)
$287.0M
($165.0M)
Basic loss per LP unit (in dollars per share)
-$0.52
-$0.71
$0.49
-$0.30
Basic weighted average LP units outstanding (in shares)
669.0M
637.0M
575.0M
545.0M
Diluted loss per LP unit (in dollars per share)
-$0.52
-$0.71
$0.49
-$0.30
Diluted weighted average LP units outstanding (in shares)
669.0M
637.0M
575.0M
545.0M
Distributions declared per LP unit (in dollars per share)
$0.50
$0.50
$0.50
$0.50
Balance sheet
Icahn Enterprises LP balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$1.4B
$2.6B
$3.0B
$2.3B
Cash held at consolidated affiliated partnerships and restricted cash
$2.0B
$2.6B
$3.0B
$2.5B
Investments
$2.3B
$2.3B
$3.0B
$6.8B
Due from brokers
$1.7B
$1.6B
$4.4B
$7.0B
Accounts receivable, net
$393.0M
$479.0M
$485.0M
$606.0M
Related party notes receivable, net
$129.0M
$7.0M
$11.0M
—
Inventories
$845.0M
$897.0M
$1.0B
$1.5B
Property, plant and equipment, net
$3.7B
$3.8B
$4.0B
$4.0B
Deferred tax asset
$165.0M
$160.0M
$184.0M
—
Derivative assets, net
$7.0M
$22.0M
$64.0M
$812.0M
Goodwill
$290.0M
$288.0M
$288.0M
$288.0M
Intangible assets, net
$349.0M
$409.0M
$466.0M
$533.0M
Other assets
$1.0B
$976.0M
$1.0B
$1.4B
Total Assets
$14.2B
$16.3B
$20.9B
$27.9B
Accounts payable
$690.0M
$802.0M
$830.0M
$870.0M
Accrued expenses and other liabilities
$1.2B
$1.5B
$1.6B
$2.0B
Deferred tax liabilities
$314.0M
$331.0M
$399.0M
$338.0M
Derivative liabilities, net
$595.0M
$756.0M
$979.0M
$691.0M
Securities sold, not yet purchased, at fair value
$1.4B
$1.4B
$3.5B
$6.5B
Debt
$6.6B
$6.8B
$7.2B
$7.1B
Total liabilities
$10.8B
$11.7B
$14.8B
$18.4B
Limited partners: Depositary units: 637,209,452 units issued and outstanding at December 31, 2025 and 522,736,315 units issued and outstanding at December 31, 2024
$2.7B
$3.2B
$4.0B
$4.6B
General partner
($786.0M)
($775.0M)
($761.0M)
($747.0M)
Equity attributable to Icahn Enterprises
$1.9B
$2.5B
$3.2B
$3.9B
Equity attributable to non-controlling interests
$1.5B
$2.2B
$2.9B
$5.7B
Total equity
$3.4B
$4.6B
$6.1B
$9.6B
Total Liabilities and Equity
$14.2B
$16.3B
$20.9B
$27.9B
Icahn Enterprises LP balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$1.2B
$1.3B
$1.8B
$1.8B
Cash held at consolidated affiliated partnerships and restricted cash
$2.0B
$2.0B
$2.2B
$2.7B
Investments
$1.5B
$1.6B
$2.0B
$2.0B
Due from brokers
$1.1B
$945.0M
$1.7B
$1.3B
Accounts receivable, net
$488.0M
$481.0M
$418.0M
$420.0M
Related party notes receivable, net
$136.0M
$132.0M
$124.0M
—
Inventories, net
$978.0M
$927.0M
$892.0M
$905.0M
Property, plant and equipment, net
$3.6B
$3.6B
$3.7B
$3.8B
Deferred tax asset
$187.0M
$184.0M
$143.0M
$179.0M
Goodwill
$289.0M
$290.0M
$290.0M
$290.0M
Intangible assets, net
$330.0M
$340.0M
$368.0M
$381.0M
Assets held for sale
$22.0M
$27.0M
$0
$25.0M
Other assets
$1.0B
$1.0B
$1.1B
$1.1B
Total Assets
$12.9B
$12.9B
$14.8B
$14.8B
Accounts payable
$721.0M
$757.0M
$673.0M
$690.0M
Accrued expenses and other liabilities
$1.5B
$1.7B
$1.3B
$1.7B
Deferred tax liabilities
$282.0M
$276.0M
$317.0M
$233.0M
Derivative liabilities, net
$828.0M
$735.0M
$989.0M
$1.1B
Securities sold, not yet purchased, at fair value
$1.0B
$748.0M
$1.4B
$996.0M
Debt
$6.4B
$6.4B
$6.7B
$6.7B
Total liabilities
$10.7B
$10.6B
$11.4B
$11.4B
Limited partners: Depositary units: 710,915,093 units issued and outstanding at June 30, 2026 and 637,209,452 units issued and outstanding at December 31, 2025
$1.8B
$1.9B
$2.7B
$2.5B
General partner
($804.0M)
($801.0M)
($785.0M)
($790.0M)
Equity attributable to Icahn Enterprises
$1.0B
$1.1B
$1.9B
$1.7B
Equity attributable to non-controlling interests
$1.1B
$1.2B
$1.5B
$1.7B
Total equity
$2.1B
$2.3B
$3.4B
$3.4B
Total Liabilities and Equity
$12.9B
$12.9B
$14.8B
$14.8B
Cash flow statement
Icahn Enterprises LP cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net loss
($326.0M)
($542.0M)
($1.0B)
($25.0M)
Net loss from securities transactions
($323.0M)
$207.0M
$595.0M
$52.0M
Purchases of securities
($1.4B)
($1.9B)
($963.0M)
($3.0B)
Proceeds from sales of securities
$2.0B
$1.5B
$4.5B
$5.4B
Payments to cover securities sold, not yet purchased
($773.0M)
($2.2B)
($4.7B)
($2.9B)
Proceeds from securities sold, not yet purchased
$612.0M
$998.0M
$1.4B
$3.8B
Changes in receivables and payables relating to securities transactions
($71.0M)
$2.5B
$2.3B
($2.4B)
Changes in derivative assets and liabilities
($146.0M)
($181.0M)
$1.0B
($296.0M)
Loss (gain) on disposition of assets, net
($247.0M)
$4.0M
($8.0M)
$8.0M
Depreciation and amortization
$603.0M
$511.0M
$518.0M
$509.0M
Impairment
$40.0M
—
$7.0M
—
Deferred taxes
$9.0M
($45.0M)
($48.0M)
($148.0M)
Other, net
$31.0M
$3.0M
($84.0M)
$72.0M
Accounts receivable, net
$86.0M
$15.0M
$78.0M
($110.0M)
Inventories
$28.0M
$133.0M
$27.0M
($180.0M)
Other assets
($318.0M)
($1.0M)
$55.0M
($11.0M)
Accounts payable
($135.0M)
($33.0M)
$59.0M
$45.0M
Accrued expenses and other liabilities
($1.0M)
($24.0M)
($380.0M)
$143.0M
Net cash (used in) provided by operating activities
($313.0M)
$832.0M
$3.7B
$1.1B
Capital expenditures
($341.0M)
($280.0M)
($303.0M)
($338.0M)
Turnaround expenditures
($197.0M)
($53.0M)
($57.0M)
($83.0M)
Proceeds from disposition of businesses and assets
$120.0M
$3.0M
$33.0M
$4.0M
Other, net
$16.0M
$23.0M
$27.0M
$4.0M
Net cash (used in) provided by investing activities
($402.0M)
($215.0M)
($290.0M)
($260.0M)
Investment segment distributions to non-controlling interests
($526.0M)
($511.0M)
($2.2B)
($23.0M)
Partnership contributions
$85.0M
$104.0M
$185.0M
$768.0M
Partnership distributions
($288.0M)
($391.0M)
($307.0M)
($226.0M)
Proceeds from sale of (purchase of) additional interests in consolidated subsidiaries
($72.0M)
($13.0M)
$158.0M
($1.0M)
Dividends and distributions to non-controlling interests in subsidiaries
($77.0M)
($95.0M)
($319.0M)
($270.0M)
Proceeds from Holding Company senior notes
$495.0M
$1.3B
$699.0M
—
Repayments of Holding Company senior notes
($479.0M)
($1.2B)
($1.2B)
($500.0M)
Repurchase of senior notes held in treasury
($46.0M)
($168.0M)
—
—
Proceeds from subsidiary borrowings
$18.0M
$362.0M
$683.0M
$115.0M
Repayments of subsidiary borrowings
($189.0M)
($629.0M)
($112.0M)
($216.0M)
Other, net
($26.0M)
($20.0M)
($14.0M)
—
Net cash used in financing activities
($1.1B)
($1.3B)
($2.4B)
($344.0M)
Net (decrease) increase in cash and cash equivalents and restricted cash and restricted cash equivalents
($1.8B)
($707.0M)
$1.1B
$450.0M
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period
$5.2B
$5.9B
$4.9B
$4.4B
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period