Short answer
Icahn Enterprises L.p (IEP) filed its fiscal 2016 10-K annual report with the SEC on Mar 1, 2017. It reported revenue of $16.3B and net income of −$1.1B.
- Top risk flagged: SEC oversight under the Investment Company Act: adverse asset-value changes could trigger registration, penalties, contract unenforceability, or rescission claims
FY2016 key financial metrics · XBRL
- Revenue
- $16.3B
- Net income
- −$1.1B
- Gross margin
- 3.1%
- ROE
- -52.4%
- Operating cash flow
- $1.7B
Source: XBRL data from the Icahn Enterprises L.p (IEP) FY2016 10-K on SEC EDGAR. USD.
Icahn Enterprises L.p FY2016 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Diversified holding company pursuing undervalued investments, activist interventions and opportunistic control acquisitions across 10 operating segments
- New 2016 additions: Pep Boys acquisition for approximately $1.2 billion, East Dubuque fertilizer facility and Trump Taj Mahal ownership after bankruptcy emergence
- Major strategic shift: planned ARL sale to SMBC Rail for approximately $2.8 billion, potentially $3.4 billion including 4,800 additional railcars
- Automotive segment reached 74,225 employees, while Federal-Mogul R&D spending totaled $192 million
- Gaming portfolio contracted operationally: Trump Taj Mahal closed October 10, 2016 after Icahn Enterprises became TER’s 100% owner post-reorganization
Management Discussion & Analysis
- Revenue $16.348B, up $1.076B YoY, driven by Automotive sales of $9.928B, up 21%
- Net loss $2.220B vs $2.127B, with Automotive gross margin 19% vs 16% and Energy margin 3% vs 9%
- Best segment Automotive: $9.928B revenue; worst Investment: $1.487B net loss and -20.3% fund return
- Operating cash flow $1.7B, capital expenditures $1.0B planned for 2017, including Automotive $510M and Energy $183M
- Distributions $101M, ARI buybacks $29M, Tropicana buybacks $43M, with $5.5B holding-company debt and refinancing risk
Risk Factors
- SEC oversight under the Investment Company Act: adverse asset-value changes could trigger registration, penalties, contract unenforceability, or rescission claims
- Brexit and Turkey instability: Federal-Mogul operations exposed to European markets, currency volatility, trade restrictions, and political disruption
- CVR concentration at Coffeyville: refinery and fertilizer facilities sit in close proximity, increasing losses from one catastrophic event
- Automotive competition: Federal-Mogul faces pricing pressure from suppliers offering stronger cost, quality, technology, and service
- Structural concentration: Mr. Icahn controls approximately 90.1% of depositary units and 100% of the general partner entity
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
- 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
- FY2008 10-KFiled Mar 4, 2009
- FY2007 10-KFiled Mar 17, 2008
- FY2006 10-KFiled Mar 6, 2007
- FY2005 10-KFiled Mar 16, 2006
- FY2004 10-KFiled Mar 16, 2005
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.