4 unchanged sentences
Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma.
−Removed: In addition, we operated a Metals segment until it was sold in December 2021.
References to “we,” “our” or “us” herein include Icahn Enterprises and its subsidiaries, unless the context otherwise requires.
18 unchanged sentences
Today, we are a diversified holding company owning subsidiaries engaged in seven diversified reporting segments.
−Removed: As of December 31, 2023, through our Investment segment, we have significant positions in various investments, which include Crown Holdings (CCK), Southwest Gas Holdings, Inc.
−Removed: (SWX), International Flavors and Fragrances Inc.
−Removed: (IFF), Illumina, Inc.
−Removed: (ILMN) and Bausch Health Companies, Inc.
+Added: As of December 31, 2024, through our Investment segment, we have significant positions in various investments, which include Southwest Gas Holdings, Inc.
+Added: (SWX), American Electric Power Company, Inc.
+Added: (AEP), Caesars Entertainment Inc.
+Added: (CZR), International Flavors and Fragrances Inc.
+Added: (IFF) and Bausch Health Companies, Inc.
Several of our operating businesses started out as investment positions in debt or equity securities, held either directly by us or Mr.
83 unchanged sentences
We conduct our Energy segment through our majority owned subsidiary, CVR Energy, Inc.
−Removed: (“CVR Energy”).
+Added: (“CVR Energy”), along with a 2% interest in common units of CVR Partners, LP held outside of CVR Energy.
CVR Energy is headquartered in Sugar Land, Texas.
CVR Energy is a reporting company under the Exchange Act and files annual, quarterly and current reports, proxy statements and other information with the SEC that are publicly available.
−Removed: CVR Energy is a diversified holding company primarily engaged in the petroleum refining and marketing businesses as well as in the nitrogen fertilizer manufacturing businesses through its holdings in CVR Partners, LP, a publicly traded limited partnership (“CVR Partners”).
−Removed: CVR Energy is an independent petroleum refiner and marketer of high value transportation fuels primarily in the form of gasoline and diesel fuels, as well as renewable diesel.
+Added: CVR Energy is a diversified holding company primarily engaged in the petroleum refining and marketing businesses, the renewable fuels businesses as well as in the nitrogen fertilizer manufacturing and distribution businesses through its holdings in CVR Partners, LP, a publicly traded limited partnership (“CVR Partners”).
+Added: CVR Energy is an independent petroleum refiner and marketer of high value transportation fuels primarily in the form of gasoline, diesel, jet fuel and distillates.
+Added: The renewables business refines renewable feedstocks, such as soybean oil, corn oil, and other related renewable feedstocks, into renewable diesel, and markets renewable products.
CVR Partners produces and markets nitrogen fertilizers in the form of urea ammonium nitrate (“UAN”) and ammonia.
CVR Energy holds 100% of the general partner interest and approximately 37% of the outstanding common units of CVR Partners as of December 31, 2024.
−Removed: During 2023, we decreased our ownership in CVR Energy through the sale of common stock resulting in proceeds of $158 million and as of December 31, 2023, we owned approximately 66% of the total outstanding common stock of CVR Energy.
+Added: As of December 31, 2024, we owned approximately 66% of the total outstanding common stock of CVR Energy and 2% of the outstanding common units of CVR Partners.
Our Energy segment’s net sales for the years ended December 31, 2024, 2023 and 2022 represented approximately 83%, 83% and 81%, respectively, of our consolidated net sales, primarily from the sale of its petroleum products.
−Removed: Products, Raw Materials and Supply
+Added: Products, Raw Materials, Supply and Customers
CVR Energy’s refining business has the capability to process a variety of crude oil blends.
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In April 2022, CVR Energy converted its Wynnewood refinery’s hydrocracker to a renewable diesel unit (“RDU”) with a nameplate capacity of 252,000 bpd, which RDU is also capable of being returned to hydrocarbon service.
−Removed: In addition to the use of third-party pipelines for the supply of crude oil, CVR Energy has an extensive gathering system consisting of logistics assets that are owned, leased or part of a joint venture operation.
−Removed: Petroleum refining product yield
−Removed: includes gasoline, diesel fuel, pet coke and other refined products such as natural gas liquids, asphalt and jet fuel among other products.
+Added: In addition to the use of third-party pipelines for the supply of crude oil, CVR Energy has an extensive gathering
+Added: system consisting of logistics assets that are owned, leased or part of a joint venture operation.
+Added: Petroleum refining product yield includes gasoline, diesel fuel, pet coke and other refined products such as natural gas liquids, asphalt and jet fuel among other products.
+Added: Customers for the refining business primarily include retailers, railroads, farm cooperatives and other refiners/marketers.
+Added: The refining business’s top customer represented 13% of its net sales for the years ended December 31, 2024 and its top two customers represented 27% and 25% of its net sales for the years ended December 31, 2023 and 2022.
CVR Partners produces and distributes nitrogen fertilizer products, which are used by farmers to improve the yield and quality of their crops.
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The East Dubuque facility is able to purchase natural gas at competitive prices due to its connection to the Northern Natural Gas interstate pipeline system, which is within one mile of the facility, and a third-party owned and operated pipeline.
+Added: Retailers and distributors are the main customers for UAN, and more broadly, the industrial and agriculture sectors are the recipients of its ammonia products.
+Added: CVR Partners’ top customer represented 14% of its net sales for the year ended December 31, 2024 and its top two customers represented 25% and 30% of its net sales for the years ended December 31, 2023 and 2022, respectively.
Environmental Regulations
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● liability for the investigation and remediation of contaminated environmental medial, including soil and groundwater on, in, at, under or from current and former facilities (if any) and for off-site waste disposal locations;
−Removed: ● specifications for the products marketed by the petroleum business and the nitrogen fertilizer business, primarily gasoline, diesel and aviation fuels, UAN and ammonia.
+Added: ● specifications for the products marketed by the petroleum, renewables and the nitrogen fertilizer businesses, primarily gasoline, diesel and aviation fuels, renewable diesel, UAN and ammonia.
CVR Energy’s operations require numerous permits, licenses and authorizations.
−Removed: Failure to comply with these permits, licenses, authorizations, or environmental laws, rules and regulations could result in fines, penalties or other sanctions or liabilities or a revocation of CVR Energy’s permits, licenses or authorizations.
+Added: Failure to comply with these permits, licenses, authorizations, or environmental, health and safety laws, rules and regulations could result in fines, penalties or other sanctions or liabilities or a revocation of CVR Energy’s permits, licenses or authorizations.
In addition, the laws, rules, and regulations to which CVR Energy is subject to are often evolving and many of them have or could become more stringent or have or could become subject to more stringent interpretation or enforcement by federal, state or local agencies or courts.
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As of December 31, 2024, we owned approximately 91% of the total outstanding common stock of Viskase.
−Removed: We conduct our Real Estate segment through various wholly owned subsidiaries.
+Added: We conduct our Real Estate segment through various subsidiaries.
Our Real Estate segment consists of investment properties which includes land, retail, office and industrial properties leased to corporate tenants, the development and sale of single-family homes and the operations of a resort and two country clubs.
4 unchanged sentences
Vivus is a specialty pharmaceutical company with two approved therapies and two product candidates in active clinical development.
−Removed: We conducted our Metals segment through our wholly owned subsidiary, PSC Metals, LLC (“PSC Metals”).
−Removed: On December 7, 2021, we closed on the sale of PSC Metals.
−Removed: As a result, we no longer operate a Metals segment.
We have an aggregate of 37 employees at our Holding Company and Investment segment.
−Removed: Our other reporting segments employ an aggregate of approximately 15,000 employees, of which approximately 58% are employed within our Automotive segment, 14% are employed within our Food Packaging segment, 11% are employed within our Home Fashion segment and 10% or less are employed at each of our other segments.
+Added: Our other reporting segments employ an aggregate of approximately 15,000 employees, of which approximately 55% are employed within our Automotive segment, 16% are employed within our Food Packaging segment, 12% are employed within our Home Fashion segment, 11% are employed within our Energy segment and 3% or less are employed at each of our other segments.
Approximately 23% of our employees are employed internationally, primarily within our Food Packaging and Home Fashion segments.
8 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.