Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value Measurements, Nonrecurring

Assets measured at fair value on a nonrecurring basis during the years ended December 31, 2013 and 2012 are set forth in the table below:



	December 31, 2013				December 31, 2012
	Level 3		Recognized		Level 3		Recognized
Category	Asset		Loss		Asset		Loss
	(in millions)
Property, plant and equipment	$	74	$	16	$	109	$	59
Intangible assets	—		—		232		52
Goodwill	—		—		—		14
Other assets	—		—		—		4

Investment Segment [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Investment

The following table summarizes the valuation of the Investment Funds' investments and derivative contracts by the above fair value hierarchy levels as of December 31, 2013 and 2012:



	December 31, 2013								December 31, 2012
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Investments:
Equity securities:
Basic materials	$	—	$	—	$	—	$	—	$	144	$	9	$	—	$	153
Communications	820		—		—		820		560		16		—		576
Consumer, non-cyclical	3,344		178		—		3,522		1,340		—		—		1,340
Consumer, cyclical	414		—		—		414		261		—		—		261
Diversified	29		—		—		29		—		—		—		—
Energy	3,050		—		—		3,050		1,052		55		—		1,107
Financial	300		—		—		300		244		—		—		244
Funds	—		6		—		6		—		308		—		308
Technology	3,173		—		—		3,173		325		—		—		325
Utilities	—		—		—		—		208		—		—		208
	11,130		184		—		11,314		4,134		388		—		4,522
Corporate debt:
Consumer, cyclical	—		—		287		287		—		—		288		288
Financial	—		11		—		11		—		50		—		50
Sovereign debt	—		5		—		5		—		5		—		5
Utilities	—		29		—		29		—		31		—		31
	—		45		287		332		—		86		288		374
Mortgage-backed securities:
Financial	—		180		—		180		—		188		—		188
	$	11,130	$	409	$	287	$	11,826	$	4,134	$	662	$	288	$	5,084
Liabilities
Securities sold, not yet purchased, at fair value:
Equity securities:
Consumer, non-cyclical	$	44	$	—	$	—	$	44	$	—	$	—	$	—	$	—
Consumer, cyclical	787		—		—		787		473		—		—		473
Financial	45		—		—		45		—		—		—		—
Funds	—		8		—		8		—		60		—		60
	876		8		—		884		473		60		—		533
Derivative contracts, at fair value⁽¹⁾	—		639		—		639		—		84		—		84
	$	876	$	647	$	—	$	1,523	$	473	$	144	$	—	$	617


⁽¹⁾	Included in accrued expenses and other liabilities in our consolidated balance sheets.

Schedule of investments measured at fair value with Level 3 Input

he changes in investments measured at fair value for which our Investment segment has used Level 3 input to determine fair value are as follows:



	Year Ended December 31,
	2013			2012
	(in millions)
Balance at January 1	$	288		$	289
Gross realized and unrealized gains	4			4
Gross proceeds	(5		)	(5		)
Balance at December 31	$	287		$	288

Other Segments and Holding Company [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Other Segments and Holding Company

The following table summarizes the valuation of our Automotive and Energy segments and our Holding Company investments and derivative contracts by the above fair value hierarchy levels as of December 31, 2013 and 2012:



	December 31, 2013								December 31, 2012
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets	(in millions)
Marketable equity and debt securities	$	1	$	—	$	—	$	1	$	1	$	—	$	—	$	1
Trading securities	—		—		116		116		—		—		60		60
Derivative contracts, at fair value⁽¹⁾	—		1		—		1		—		1		21		22
	$	1	$	1	$	116	$	118	$	1	$	1	$	81	$	83
Liabilities
Other liabilities	$	—	$	16	$	—	$	16	$	—	$	1	$	—	$	1
Derivative contracts, at fair value⁽²⁾	—		35		—		35		—		89		—		89
	$	—	$	51	$	—	$	51	$	—	$	90	$	—	$	90


⁽¹⁾	Amounts are classified within other assets in our consolidated balance sheets.


⁽²⁾	Amounts are classified within accrued expenses and other liabilities in our consolidated balance sheets.

Holding Company [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of investments measured at fair value with Level 3 Input

The changes in trading securities measured at fair value for which our Holding Company have used Level 3 input to determine fair value are as follows:



	Year Ended December 31,
	2013			2012
	(in millions)
Balance at January 1	$	81		$	—
Purchases	67			—
Transfer in	—			81
Gross realized and unrealized losses	(32		)	—
Balance at December 31	$	116		$	81

Automotive Segment [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of fair value of defined benefit plan asset [Table Text Block]

The following table presents our Automotive segment's defined benefit plan assets measured at fair value on a recurring basis as of December 31, 2013 and 2012:



	December 31, 2013								December 31, 2012
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in millions)
U.S. Plans:
Cash	$	33	$	—	$	—	$	33	$	34	$	—	$	—	$	34
Investments with registered investment companies:
Equity securities	347		—		—		347		257		—		—		257
Fixed income securities	135		—		—		135		143		—		—		143
Real estate and other	23		—		—		23		4		—		—		4
Equity securities	242		—		—		242		217		—		—		217
Fixed income collective trust	—		—		—		—		—		45		—		45
Debt securities:
Corporate and other	—		22		—		22		—		37		—		37
Government	14		8		—		22		—		27		—		27
Hedge funds	—		—		85		85		—		—		14		14
	$	794	$	30	$	85	$	909	$	655	$	109	$	14	$	778
Non-U.S. Plans:
Insurance contracts	$	—	$	—	$	44	$	44	$	—	$	—	$	42	$	42
Investments with registered investment companies:
Fixed income securities	7		—		—		7		10		—		—		10
Equity securities	2		—		—		2		1		—		—		1
Corporate bonds	—		2		—		2		—		2		—		2
	$	9	$	2	$	44	$	55	$	11	$	2	$	42	$	55

Schedule of Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block]

The changes in U.S. and Non-U.S. plan assets measured at fair value for which our Automotive segment has used Level 3 input to determine fair value are as follows:



	Year Ended December 31,
	2013			2012
	(in millions)
U.S. Plans:
Hedge funds:
Balance at January 1	$	14		$	—
Realized/unrealized gains (losses), net	11			2
Purchases and settlements, net	83			12
Sales, net	$	(23	)	$	—
Balance at December 31	$	85		$	14



	Year Ended December 31,
	2013			2012
	(in millions)
Non-U.S. Plans:
Insurance contracts:
Balance at January 1	$	42		$	35
Realized/unrealized gains (losses), net	1			1
Purchases and settlements, net	6			7
Sales, net	(6		)	(2		)
Foreign currency exchange rate movements	1			1
Balance at December 31	$	44		$	42

Railcar and Food Packaging [Member]

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Schedule of fair value of defined benefit plan asset [Table Text Block]

The following table presents our Food Packaging and Railcar segment's defined benefit plan assets measured at fair value on a recurring basis as of December 31, 2013 and 2012:



	December 31, 2013								December 31, 2012
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in millions)
U.S. and Non-U.S. Plans:
Asset category:
Cash equivalents	$	4	$	1	$	—	$	5	$	7	$	—	$	—	$	7
Equity securities	61		15		—		76		23		29		—		52
Fixed income securities	21		6		—		27		14		15		—		29
Other	3		1		21		25		—		1		30		31
	$	89	$	23	$	21	$	133	$	44	$	45	$	30	$	119

Schedule of Level Three Defined Benefit Plan Assets Roll Forward [Table Text Block]

The changes in U.S. and Non-U.S. plan assets measured at fair value for which our Food Packaging and Railcar segments have used Level 3 input to determine fair value are as follows:



	Year Ended December 31,
	2013			2012
	(in millions)
U.S. and Non-U.S. Plans:
Balance at January 1	$	30		$	27
Realized/unrealized gains (losses), net	3			3
Purchases and settlements, net	(12		)	—
Balance at December 31	$	21		$	30

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

ICAHN ENTERPRISES HOLDINGS L.P. 10-K/A