Diversified Subsidiary Companies Presentation
Segment: Real Estate
Segment Description
•
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
Historical Segment Financial Summary
Real Estate Segment
($Millions)
FYE December 31,
2021
2022
2023
Selected Income Statement Data:
Net sales and other revenue from
$93
$118
$142
operations
Adjusted EBITDA (1)
(1)
20
28
Net income (loss)
(8)
7
16
Segment Balance Sheet Data (2):
Total assets
$526
$507
$488
Equity attributable to IEP
$472
$455
$439
Highlights and Recent Developments
Business strategy is based on long-term investment outlook and operational
expertise
Management is actively looking to expand the real estate portfolio
Investment Property
Maximize value of commercial lease portfolio through effective management of
existing properties
• Seek to acquire or sell assets on opportunistic basis
Focused on securing long-term, quality tenants in our commercial office space
and continue our positive growth in the retail leasing space
Property Development
Development of luxury single family homes on the East Coast that supplements
our country club operations
Continues strong performance with a healthy backlog of homes under contract
Club and Resort Operations
Club operations focus on operating golf and other country club activities on the
East Coast
Resort operations in Aruba focus on maintaining high occupancy rates
(1)
(2)
Refer to the Adjusted EBITDA reconciliations in the Appendix.
Balance Sheet data as of the end of each respective period.
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