2024 Q1 Form 10-K Financial Statement

#000155837024002090 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $2.468B $2.526B $10.85B
YoY Change -6.55% -15.46% -23.08%
Cost Of Revenue $1.987B $2.380B $9.327B
YoY Change -12.08% -19.35% -20.21%
Gross Profit $344.0M $146.0M $945.0M
YoY Change 42.15% 294.59% -58.35%
Gross Profit Margin 13.94% 5.78% 8.71%
Selling, General & Admin $193.0M $199.0M $852.0M
YoY Change -15.72% -39.51% -31.84%
% of Gross Profit 56.1% 136.3% 90.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $129.0M $134.0M $518.0M
YoY Change 5.74% 3.88% 1.77%
% of Gross Profit 37.5% 91.78% 54.81%
Operating Expenses $193.0M $359.0M $852.0M
YoY Change -15.72% -23.78% -31.84%
Operating Profit $151.0M -$213.0M $93.00M
YoY Change 1061.54% -50.92% -90.87%
Interest Expense $136.0M $30.00M $554.0M
YoY Change -4.23% 100.0% -2.46%
% of Operating Profit 90.07% 595.7%
Other Income/Expense, Net -$18.00M -$23.00M -$69.00M
YoY Change -43.75% -50.0% -61.02%
Pretax Income -$19.00M -$197.0M -$922.0M
YoY Change -94.92% -57.82% -10344.44%
Income Tax $7.000M $8.000M $90.00M
% Of Pretax Income
Net Earnings -$38.00M -$136.0M -$684.0M
YoY Change -85.93% -45.6% 273.77%
Net Earnings / Revenue -1.54% -5.38% -6.31%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.09 -$0.31 -$1.75
COMMON SHARES
Basic Shares Outstanding 429.0M 410.8M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.259B $4.019B $4.019B
YoY Change -35.96% -17.74% -17.74%
Cash & Equivalents $2.468B $2.951B $4.019B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $1.039B $1.047B $1.047B
Prepaid Expenses
Receivables $447.0M $485.0M $485.0M
Other Receivables $4.332B $4.378B $4.378B
Total Short-Term Assets $9.077B $9.929B $9.929B
YoY Change -31.41% -29.42% -29.42%
LONG-TERM ASSETS
Property, Plant & Equipment $3.940B $3.969B $4.495B
YoY Change -1.15% -1.71% -0.47%
Goodwill $288.0M $288.0M
YoY Change 0.0% 0.0%
Intangibles $452.0M $466.0M
YoY Change -12.57% -12.57%
Long-Term Investments $3.315B $3.012B $3.012B
YoY Change -50.05% -55.76% -55.76%
Other Assets $1.964B $2.111B $2.111B
YoY Change
Total Long-Term Assets $10.99B $10.93B $10.93B
YoY Change -15.71% -21.07% -21.07%
TOTAL ASSETS
Total Short-Term Assets $9.077B $9.929B $9.929B
Total Long-Term Assets $10.99B $10.93B $10.93B
Total Assets $20.06B $20.86B $20.86B
YoY Change -23.62% -25.28% -25.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.051B $1.131B $1.131B
YoY Change -26.91% -35.56% -35.56%
Accrued Expenses $2.044B $1.596B $1.551B
YoY Change -22.75% -19.43% -21.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.095B $2.727B $2.727B
YoY Change -24.22% -27.01% -27.01%
LONG-TERM LIABILITIES
Long-Term Debt $6.608B $7.207B $7.207B
YoY Change -6.81% 1.56% 1.56%
Other Long-Term Liabilities $4.346B $4.452B $4.452B
YoY Change -30.6% -38.05% -38.05%
Total Long-Term Liabilities $10.95B $11.66B $11.66B
YoY Change -17.97% -18.37% -18.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.095B $2.727B $2.727B
Total Long-Term Liabilities $10.95B $11.66B $11.66B
Total Liabilities $14.44B $14.79B $17.65B
YoY Change -18.76% -19.45% -26.5%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.781B $3.208B $3.208B
YoY Change
Total Liabilities & Shareholders Equity $20.06B $20.86B $20.86B
YoY Change -23.62% -25.28% -25.28%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$38.00M -$136.0M -$684.0M
YoY Change -85.93% -45.6% 273.77%
Depreciation, Depletion And Amortization $129.0M $134.0M $518.0M
YoY Change 5.74% 3.88% 1.77%
Cash From Operating Activities -$251.0M $115.0M $3.736B
YoY Change -201.62% -105.03% 254.12%
INVESTING ACTIVITIES
Capital Expenditures $68.00M $102.0M $303.0M
YoY Change 17.24% 21.43% -10.36%
Acquisitions $20.00M
YoY Change
Other Investing Activities -$7.000M -$107.0M -$27.00M
YoY Change -66.67% 2040.0% 575.0%
Cash From Investing Activities -$75.00M -$209.0M -$290.0M
YoY Change 66.67% 134.83% 11.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -587.0M -71.00M -2.385B
YoY Change -58800.0% -220.34% 593.31%
NET CHANGE
Cash From Operating Activities -251.0M 115.0M 3.736B
Cash From Investing Activities -75.00M -209.0M -290.0M
Cash From Financing Activities -587.0M -71.00M -2.385B
Net Change In Cash -913.0M -165.0M 1.060B
YoY Change -549.75% -92.87% 135.56%
FREE CASH FLOW
Cash From Operating Activities -$251.0M $115.0M $3.736B
Capital Expenditures $68.00M $102.0M $303.0M
Free Cash Flow -$319.0M $13.00M $3.433B
YoY Change -268.78% -100.55% 378.8%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates in Preparation of Financial Statements</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the period. Due to the inherent uncertainty involved in making estimates, actual results may differ from the estimates and assumptions used in preparing the consolidated financial statements.</p>
CY2023Q2 iep Subsidiary Bankruptcy And Deconsolidation Number Of Sales Of Auto Plus Assets
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CY2023Q2 iep Subsidiary Bankruptcy And Deconsolidation Number Of Sales Of Auto Plus Assets Number Of Bidders
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CY2023 us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Reclassifications </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Certain reclassifications from the prior year presentation have been made to conform to the current year presentation, which did not have an impact on previously reported net income and equity and are not deemed material. </p>
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246000000
CY2023Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current And Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrentAndNoncurrent
34000000
CY2022Q4 us-gaap Pension And Other Postretirement And Postemployment Benefit Plans Liabilities Current And Noncurrent
PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesCurrentAndNoncurrent
36000000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-55000000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-70000000
CY2023 iep Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Aggregate Ownership Interest Of Parent And Holding Company Subsidiaries
LimitedLiabilityCompanyLlcOrLimitedPartnershipLpManagingMemberOrGeneralPartnerAggregateOwnershipInterestOfParentAndHoldingCompanySubsidiaries
0.0199
CY2023 iep Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Aggregate Ownership Interest Of Parent And Holding Company Subsidiaries
LimitedLiabilityCompanyLlcOrLimitedPartnershipLpManagingMemberOrGeneralPartnerAggregateOwnershipInterestOfParentAndHoldingCompanySubsidiaries
0.0199
CY2023 iep Subsidiary Bankruptcy And Deconsolidation
SubsidiaryBankruptcyAndDeconsolidation
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">3. Subsidiary Bankruptcy and Deconsolidation</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;"><span style="background:#ffffff;">On January 31, 2023, Auto Plus, an Aftermarket Parts distributor held within our Automotive segment, filed voluntary petitions (the “Chapter 11 Cases”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) seeking relief under Chapter 11 of Title 11 of the United States Code.</span><span style="font-family:'TimesNewRomanPSMT';"> On May 2, 2023, the Bankruptcy Court approved a global settlement in the Chapter 11 Cases between Auto Plus, its non-Auto Plus affiliates, and the Official Committee of Unsecured Creditors appointed in the Chapter 11 Cases (the “Committee”) that provides for a guaranteed recovery to unsecured creditors, the payment of all administrative and priority claims in the Chapter 11 Cases, and the resolution of all disputes between Auto Plus, its non-Auto Plus affiliates, and the Committee.</span><span style="background:#ffffff;"> On May 19, 2023, the Bankruptcy Court approved </span><span style="background:#ffffff;">five</span><span style="background:#ffffff;"> sales of Auto Plus’ assets to </span><span style="background:#ffffff;">five</span><span style="background:#ffffff;"> different bidders pursuant to Section 363 of the Bankruptcy Code, comprising a significant majority of Auto Plus’ total assets (the “363 Sales”). AEP PLC was the buyer for one of the 363 Sales, pursuant to a credit bid of </span><span style="background:#ffffff;">$10</span><span style="background:#ffffff;"> million for a portion of its </span><span style="font-family:'TimesNewRomanPSMT';">senior secured debtor-in-possession loan to Auto Plus. The last of the 363 Sales closed on June 12, 2023. The proceeds of the 363 Sales have been and will continue to be used to satisfy obligations to Auto Plus’ creditors. On June 16, 2023, the Bankruptcy Court entered an order approving Auto Plus’ Third Amended Combined Disclosure Statement and Joint Plan of Liquidation (the “Bankruptcy Plan”).  The effective date of the Bankruptcy Plan occurred on October 6, 2023. The Bankruptcy Plan provides for the orderly liquidation of Auto Plus and distribution of its assets. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><span style="font-family:'TimesNewRomanPSMT';font-size:10pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">As a result of the filing of the Chapter 11 Cases, the Company determined that it no longer controls Auto Plus under the criteria set out in FASB ASC Topic 810, “Consolidation” and deconsolidated its investment effective January 31, 2023. In order to deconsolidate Auto Plus, we removed the carrying values of the assets and liabilities of Auto Plus as of January 31, 2023 and recorded our investment in Auto Plus at $0 resulting in a non-cash charge of $246 million during the year ended December 31, 2023.</p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentrations of credit risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Concentrations of credit risk relate primarily to derivative instruments from our Investment segment. See Note 7, “Financial Instruments,” for further discussion.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In addition, at our Holding Company, financial instruments that potentially subject us to concentrations of credit risk are primarily cash and cash equivalent deposits. These cash and cash equivalent deposits are maintained with several financial institutions. The deposits held at the various financial institutions may exceed federally insured limits. Exposure to this credit risk is reduced by placing such deposits with major financial institutions and monitoring their credit ratings and, therefore, we believe these deposits bear minimal credit risk.</p>
CY2023Q2 iep Subsidiary Bankruptcy And Deconsolidation Credit Bid For Portion Of Its Senior Secured Debtor In Possession Loan
SubsidiaryBankruptcyAndDeconsolidationCreditBidForPortionOfItsSeniorSecuredDebtorInPossessionLoan
10000000
CY2023 iep Subsidiary Deconsolidation Non Cash Charges
SubsidiaryDeconsolidationNonCashCharges
246000000
CY2022Q2 iep Number Of Portfolios
NumberOfPortfolios
2
CY2022Q4 iep Fair Value Of Equity Method Investment Under Fair Value Option
FairValueOfEquityMethodInvestmentUnderFairValueOption
500000000
CY2023 iep Unrealizedgainonequitymethodinvestmentsunderfairvalueoption
Unrealizedgainonequitymethodinvestmentsunderfairvalueoption
60000000
CY2022 iep Unrealizedgainonequitymethodinvestmentsunderfairvalueoption
Unrealizedgainonequitymethodinvestmentsunderfairvalueoption
-230000000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
13000000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
7000000
CY2023Q4 iep Related Party Notes Receivable Gross
RelatedPartyNotesReceivableGross
23000000
CY2023Q4 iep Allowance For Expected Credit Losses On Related Party Notes Receivable
AllowanceForExpectedCreditLossesOnRelatedPartyNotesReceivable
12000000
CY2023Q4 us-gaap Notes Receivable Net
NotesReceivableNet
11000000
CY2023 iep Provision For Expected Credit Losses On Related Party Notes Receivable
ProvisionForExpectedCreditLossesOnRelatedPartyNotesReceivable
139000000
CY2023 iep Expected Credit Losses On Related Party Notes Receivable Write Offs
ExpectedCreditLossesOnRelatedPartyNotesReceivableWriteOffs
127000000
CY2023Q4 iep Allowance For Expected Credit Losses On Related Party Notes Receivable
AllowanceForExpectedCreditLossesOnRelatedPartyNotesReceivable
12000000
CY2023 iep Expected Credit Losses On Related Party Notes Receivable Write Offs
ExpectedCreditLossesOnRelatedPartyNotesReceivableWriteOffs
127000000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
367000000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
335000000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
95000000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
105000000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
585000000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1091000000
CY2023Q4 us-gaap Inventory Net
InventoryNet
1047000000
CY2022Q4 us-gaap Inventory Net
InventoryNet
1531000000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8200000000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7966000000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4231000000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3928000000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3969000000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4038000000
CY2023 us-gaap Depreciation
Depreciation
384000000
CY2022 us-gaap Depreciation
Depreciation
384000000
CY2021 us-gaap Depreciation
Depreciation
383000000
CY2022Q4 us-gaap Goodwill Gross
GoodwillGross
378000000
CY2023Q4 us-gaap Goodwill Gross
GoodwillGross
378000000
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
90000000
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
90000000
CY2023Q4 us-gaap Goodwill
Goodwill
288000000
CY2021Q4 us-gaap Goodwill Gross
GoodwillGross
380000000
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-2000000
CY2022Q4 us-gaap Goodwill Gross
GoodwillGross
378000000
CY2021Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
90000000
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
90000000
CY2022Q4 us-gaap Goodwill
Goodwill
288000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
810000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
420000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
390000000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
814000000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
364000000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
450000000
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
76000000
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
83000000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
466000000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
533000000
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
58000000
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
61000000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
62000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
57000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
56000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
36000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
35000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
31000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
175000000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
390000000
CY2023 iep Lessee Right Of Use Assets And Liabilities Tabletextblock
LesseeRightOfUseAssetsAndLiabilitiesTabletextblock
<p style="font-family:'Times New Roman','Times','serif';font-size:12pt;min-height:0.0pt;margin:0pt;"><span style="font-size:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:69.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:69.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Times';font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Times';">    </span></p></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:28.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">December 31, </b></p></td></tr><tr><td style="vertical-align:bottom;width:69.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Times';font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Times';font-size:10pt;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.94%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">2023</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">    </b></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">2022</b></p></td></tr><tr style="height:0pt;visibility:hidden;"><td colspan="7" style="padding:0pt;"></td></tr><tr><td style="vertical-align:bottom;width:69.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Times';font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-family:'Times';font-size:8pt;visibility:hidden;">​</span></p></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:28.52%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;">(in millions)</p></td></tr><tr><td style="vertical-align:bottom;width:69.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Operating Leases:</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:69.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 6pt;"><span style="-sec-ix-hidden:Hidden_qHfWnDEkUkGwLGORBakY2Q;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Right-of-use assets (other assets)</span></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 526</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 478</p></td></tr><tr><td style="vertical-align:bottom;width:69.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 6pt;"><span style="-sec-ix-hidden:Hidden_UwFmdJrLiUard6LZDfadsg;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Lease liabilities (accrued expenses and other liabilities)</span></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 531</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 484</p></td></tr><tr><td style="vertical-align:bottom;width:69.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:69.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Financing Leases:</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:69.26%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 6pt;"><span style="-sec-ix-hidden:Hidden_5tGmdMRONkmeQwef5VS_Bw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Right-of-use assets (property, plant and equipment, net)</span></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 55</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 48</p></td></tr><tr><td style="vertical-align:bottom;width:69.26%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 6pt;"><span style="-sec-ix-hidden:Hidden_piOswZWD-U2qbBiBCdBNhQ;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Lease liabilities (debt)</span></span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:11.55%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 70</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.2%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:10pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:12%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 64</p></td></tr></table>
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OperatingLeaseRightOfUseAsset
526000000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
478000000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
531000000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
484000000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
55000000
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
48000000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
70000000
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
64000000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
526000000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
531000000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
478000000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
484000000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
142000000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
17000000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
124000000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
15000000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
110000000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
14000000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
87000000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
13000000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
51000000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
10000000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
103000000
CY2023Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
23000000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
617000000
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
92000000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
86000000
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
22000000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
531000000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
70000000
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
177000000
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8000000
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5000000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
197000000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8000000
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5000000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
196000000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
10000000
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6000000
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
7207000000
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
7096000000
CY2023 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4000000
CY2022 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
5000000
CY2021 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
5000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
637000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
763000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1338000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1450000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
950000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
2010000000
CY2023Q4 iep Future Maturities Due On Debt
FutureMaturitiesDueOnDebt
7148000000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
11000000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
70000000
CY2023Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
7207000000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-684000000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-183000000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-518000000
CY2023 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-1.75
CY2023 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-1.75
CY2022 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-0.57
CY2022 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-0.57
CY2021 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
-2.32
CY2021 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
-2.32
CY2023 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
382000000
CY2023 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
382000000
CY2022 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
316000000
CY2022 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
316000000
CY2021 us-gaap Weighted Average Limited Partnership Units Outstanding
WeightedAverageLimitedPartnershipUnitsOutstanding
260000000
CY2021 us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
WeightedAverageLimitedPartnershipUnitsOutstandingDiluted
260000000
CY2021Q4 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
293403243
CY2022 us-gaap Distribution Made To Limited Partner Unit Distribution
DistributionMadeToLimitedPartnerUnitDistribution
45520325
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
29342
CY2022 us-gaap Partners Capital Account Units Sale Of Units
PartnersCapitalAccountUnitsSaleOfUnits
14619272
CY2022Q4 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
353572182
CY2023 us-gaap Distribution Made To Limited Partner Unit Distribution
DistributionMadeToLimitedPartnerUnitDistribution
72060733
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
4973
CY2023 us-gaap Partners Capital Account Units Sale Of Units
PartnersCapitalAccountUnitsSaleOfUnits
3395353
CY2023Q4 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
429033241
CY2023 us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
6.00
CY2023 iep Aggregate Cash Distributions To Depositary Unit Holders
AggregateCashDistributionsToDepositaryUnitHolders
301000000
CY2022 us-gaap Distribution Made To Limited Liability Company Llc Member Distributions Paid Per Unit
DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsPaidPerUnit
8.00
CY2022 iep Aggregate Cash Distributions To Depositary Unit Holders
AggregateCashDistributionsToDepositaryUnitHolders
222000000
CY2019Q2 iep Potentialaggregatesalesproceedsfromequityoffering
Potentialaggregatesalesproceedsfromequityoffering
400000000
CY2023 us-gaap Partners Capital Account Units Sale Of Units
PartnersCapitalAccountUnitsSaleOfUnits
3395353
CY2023 us-gaap Proceeds From Sale Of Interest In Partnership Unit
ProceedsFromSaleOfInterestInPartnershipUnit
175000000
CY2023 iep Potentialaggregatesalesproceedsfromequityoffering
Potentialaggregatesalesproceedsfromequityoffering
149000000
CY2023Q2 iep Repurchase Program Authorized Amount Fixed Rate Senior Unsecured Notes
RepurchaseProgramAuthorizedAmountFixedRateSeniorUnsecuredNotes
500000000
CY2023Q2 iep Repurchase Program Authorized Amount Depositary Units
RepurchaseProgramAuthorizedAmountDepositaryUnits
500000000
CY2023Q4 iep Repurchase Program Authorized Amount Fixed Rate Senior Unsecured Notes
RepurchaseProgramAuthorizedAmountFixedRateSeniorUnsecuredNotes
92000000
CY2023 iep Net Sales
NetSales
11077000000
CY2023 iep Other Operating Revenue
OtherOperatingRevenue
770000000
CY2023 us-gaap Debt And Equity Securities Realized Gain Loss
DebtAndEquitySecuritiesRealizedGainLoss
-1575000000
CY2023 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
636000000
CY2023 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
8000000
CY2023 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-69000000
CY2023 us-gaap Revenues
Revenues
10847000000
CY2023 iep Cost Of Goods Sold New
CostOfGoodsSoldNew
9327000000
CY2023 iep Costofotherrevenuefromoperations
Costofotherrevenuefromoperations
643000000
CY2023 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
852000000
CY2023 us-gaap Restructuring Charges
RestructuringCharges
1000000
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
7000000
CY2023 iep Impairment On Related Party Note Receivable Net
ImpairmentOnRelatedPartyNoteReceivableNet
139000000
CY2023 us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
-246000000
CY2023 us-gaap Interest Expense
InterestExpense
554000000
CY2023 us-gaap Costs And Expenses
CostsAndExpenses
11769000000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-922000000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
90000000
CY2023 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-1012000000
CY2023Q4 us-gaap Investments
Investments
3012000000
CY2023 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-328000000
CY2023 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-684000000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
303000000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
518000000
CY2022 iep Net Sales
NetSales
13378000000
CY2022 iep Other Operating Revenue
OtherOperatingRevenue
748000000
CY2022 us-gaap Debt And Equity Securities Realized Gain Loss
DebtAndEquitySecuritiesRealizedGainLoss
-168000000
CY2022 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
328000000
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-8000000
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-177000000
CY2022 us-gaap Revenues
Revenues
14101000000
CY2022 iep Cost Of Goods Sold New
CostOfGoodsSoldNew
11689000000
CY2022 iep Costofotherrevenuefromoperations
Costofotherrevenuefromoperations
583000000
CY2022 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1250000000
CY2022 us-gaap Restructuring Charges
RestructuringCharges
2000000
CY2022 us-gaap Interest Expense
InterestExpense
568000000
CY2022 us-gaap Costs And Expenses
CostsAndExpenses
14092000000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9000000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
34000000
CY2022 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-25000000
CY2022 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
158000000
CY2022 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-183000000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
338000000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
509000000
CY2021 iep Net Sales
NetSales
10304000000
CY2021 iep Other Operating Revenue
OtherOperatingRevenue
647000000
CY2021 us-gaap Debt And Equity Securities Realized Gain Loss
DebtAndEquitySecuritiesRealizedGainLoss
193000000
CY2021 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
137000000
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
141000000
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-84000000
CY2021 us-gaap Revenues
Revenues
11338000000
CY2021 iep Cost Of Goods Sold New
CostOfGoodsSoldNew
9485000000
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