Short answer
Icahn Enterprises L.p (IEP) filed its fiscal 2008 10-K annual report with the SEC on Mar 4, 2009.
- Top risk flagged: Delaware litigation over WPI preferred stock could reduce ownership below 50%, potentially ending WPI consolidation and materially changing reported financial statements
Icahn Enterprises L.p FY2008 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Diversified holding company spanning investment management, automotive, metals, real estate and home fashion
- Federal-Mogul became the core automotive platform, with ownership reaching 75.7% through $862.75 million and unit-funded acquisitions
- ACEP gaming exit completed for approximately $472 million after-tax gain, eliminating remaining gaming operations
- Automotive restructuring targeted approximately 8,600 workforce reductions, with $127 million charges and up to $37 million additional charges
- Investment management economics shifted from 2.5% management fees to special profits interest allocations effective January 1, 2008
Management Discussion & Analysis
- Revenue $5.0B vs $2.5B, driven by $5.7B Automotive contribution and $405M Metals increase
- Continuing-operations loss $528M, Investment Management loss $335M and Automotive loss $350M
- Best segment: Metals sales $1.2B, up 48.6%, gross margin 11.0% vs 6.7%
- Operating cash flow $841M, capex $794M, gaming-sale proceeds approximately $1.1B
- Outlook: automotive production declines, Home Fashion losses and restructuring expected through fiscal 2009
Risk Factors
- Delaware litigation over WPI preferred stock could reduce ownership below 50%, potentially ending WPI consolidation and materially changing reported financial statements
- Global financial crisis: Private Funds’ negative 2008 performance eliminated incentive allocations and reduced net asset value to approximately $660 million
- Federal-Mogul supplier distress: bankruptcies, raw-material shortages and single-source relationships threatened uninterrupted production and margins
- Asian and Latin American imports: 2005 quota removal accelerated WPI market-share losses amid low-priced foreign competition
- Debt refinancing exposure: approximately $429 million of Icahn Enterprises indebtedness due through December 31, 2011
Generated from the filing text; verify against the original. How to read a 10-K
Other Icahn Enterprises L.p annual reports
- FY2018 10-KFiled Mar 1, 2019
- FY2017 10-KFiled Mar 1, 2018
- FY2016 10-KFiled Mar 1, 2017
- FY2015 10-KFiled Feb 29, 2016
- FY2014 10-KFiled Feb 27, 2015
- FY2013 10-KFiled Mar 3, 2014
- FY2012 10-KFiled Mar 15, 2013
- FY2011 10-KFiled Mar 12, 2012
- FY2010 10-KFiled Mar 8, 2011
- FY2009 10-KFiled Mar 3, 2010
- FY2007 10-KFiled Mar 17, 2008
- FY2006 10-KFiled Mar 6, 2007
- FY2005 10-KFiled Mar 16, 2006
- FY2004 10-KFiled Mar 16, 2005
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