CVR Energy (CVI) 10-Q 25 Oct 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 23, 2018
Document and Entity Information
Entity Registrant Name	CVR ENERGY INC
Entity Central Index Key	1,376,139
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		100,530,599
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents (including $460 and $223, respectively, of consolidated variable interest entities (“VIEs”))	$ 702	$ 482
Accounts receivable of VIEs	214	179
Due from parent	0	5
Inventories of VIEs	427	385
Prepaid expenses and other current assets (including $35 and $30, respectively, of VIEs)	47	43
Total current assets	1,390	1,094
Property, plant and equipment, net of accumulated depreciation (including $2,425 and $2,548, respectively, of VIEs)	2,441	2,572
Other long-term assets (including $162 and $137, respectively, of VIEs)	171	141
Total assets	4,002	3,807
Current liabilities:
Note payable and capital lease obligations of VIEs	2	2
Accounts payable (including $407 and $329, respectively, of VIEs)	409	334
Other current liabilities (including $164 and $181, respectively, of VIEs)	193	208
Total current liabilities	604	544
Long-term liabilities:
Long-term debt and capital lease obligations of VIEs, net of current portion	1,166	1,164
Deferred income taxes	347	386
Other long-term liabilities (including $10 and $4, respectively, of VIEs)	22	9
Total long-term liabilities	1,535	1,559
Commitments and contingencies (See Note 9)
CVR stockholders’ equity:
Common stock $0.01 par value per share, 350,000,000 shares authorized, 100,629,209 shares issued (86,929,660 shares issued as of December 31, 2017)	1	1
Additional paid-in-capital	1,473	1,197
Retained deficit	(233)	(277)
Treasury stock, 98,610 shares at cost	(2)	(2)
Total CVR stockholders’ equity	1,239	919
Noncontrolling interest	624	785
Total equity	1,863	1,704
Total liabilities and equity	$ 4,002	$ 3,807

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents, consolidated VIEs	$ 702	$ 482
Prepaid expenses and other current assets, VIEs	47	43
Property, plant and equipment, net of accumulated depreciation, VIEs	2,441	2,572
Other long-term assets, VIEs	171	141
Current liabilities:
Accounts payable, VIEs	409	334
Other current liabilities, VIEs	193	208
Long-term liabilities:
Other long-term liabilities, VIEs	$ 22	$ 9
Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	350,000,000	350,000,000
Common stock, issued (in shares)	100,629,209	86,929,660
Treasury stock (in shares)	98,610	98,610
Variable Interest Entities
Current assets:
Cash and cash equivalents, consolidated VIEs	$ 460	$ 223
Prepaid expenses and other current assets, VIEs	35	30
Property, plant and equipment, net of accumulated depreciation, VIEs	2,425	2,548
Other long-term assets, VIEs	162	137
Current liabilities:
Accounts payable, VIEs	407	329
Other current liabilities, VIEs	164	181
Long-term liabilities:
Other long-term liabilities, VIEs	$ 10	$ 4

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Net sales	$ 1,935	$ 1,454	$ 5,386	$ 4,395
Operating costs and expenses:
Cost of materials and other	1,561	1,133	4,370	3,582
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	121	160	394	422
Depreciation and amortization	49	51	151	152
Cost of sales	1,731	1,344	4,915	4,156
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	28	27	83	82
Depreciation and amortization	2	3	8	7
Loss on asset disposals	0	1	5	2
Operating income	174	79	375	148
Interest expense, net	(26)	(28)	(79)	(81)
Gain (loss) on derivatives, net	5	(17)	75	(5)
Other income, net	3	0	6	0
Income before income tax expense	156	34	377	62
Income tax expense	35	9	73	18
Net income	121	25	304	44
Less: Net income attributable to noncontrolling interest	31	3	97	10
Net income attributable to CVR Energy stockholders	$ 90	$ 22	$ 207	$ 34
Basic and diluted earnings per share (in dollars per share)	$ 0.94	$ 0.26	$ 2.31	$ 0.39
Dividends declared per share (in dollars per share)	$ 0.75	$ 0.50	$ 2	$ 1.50
Weighted-average common shares outstanding:
Basic and diluted (in shares)	95.8	86.8	89.8	86.8

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income	$ 304	$ 44
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	159	159
Deferred income taxes expense	47	15
Share-based compensation	17	10
Other non-cash items	7	7
Changes in assets and liabilities:
Current assets and liabilities	(30)	92
Non-current assets and liabilities	15	0
Net cash provided by operating activities	519	327
Cash flows from investing activities:
Capital expenditures	(68)	(80)
Other investing activities	1	(1)
Net cash used in investing activities	(67)	(81)
Cash flows from financing activities:
Dividends to CVR Energy’s stockholders	(162)	(130)
Other financing activities	(3)	(1)
Net cash used in financing activities	(232)	(133)
Net increase in cash and cash equivalents	220	113
Cash and cash equivalents, beginning of period	482	736
Cash and cash equivalents, end of period	702	849
CVR Refining
Cash flows from financing activities:
Distributions to noncontrolling interest holders	(67)	0
CVR Partners
Cash flows from financing activities:
Distributions to noncontrolling interest holders	$ 0	$ (2)

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	(1) Organization and Basis of Presentation Organization CVR Energy, Inc. (“CVR Energy, “CVR,”, “we,” “us,”, “our,” or the “Company”) is a diversified holding company primarily engaged in the petroleum refining and nitrogen fertilizer manufacturing industries through its holdings in CVR Refining, LP (“CVR Refining”) and CVR Partners, LP (“CVR Partners”). CVR Refining is a refiner that does not have crude oil exploration or production operations (an “independent petroleum refiner”) and is a marketer of high value transportation fuels. CVR Partners produces and markets nitrogen fertilizers in the form of ammonia and urea ammonium nitrate (“UAN”). Ammonia is a direct application fertilizer and is primarily used as a building block for other nitrogen products for industrial applications and finished fertilizer products. UAN is an aqueous solution of urea and ammonium nitrate. The Company’s operations include two business segments: the petroleum segment and the nitrogen fertilizer segment. CVR’s common stock is listed on the New York Stock Exchange (“NYSE”) under the symbol “CVI.” During August 2018, CVR Energy completed an exchange offer whereby public unitholders tendered a total of 21,625,106 CVR Refining common units in exchange for a total of 13,699,549 shares of CVR Energy common stock. In connection with this exchange offer, we incurred a total of $0.7 million of issuance costs, which were capitalized to additional paid-in-capital. Further, due to the change in our ownership of CVR Refining while maintaining control, we recognized an increase of $276 million to additional paid-in capital as a result of the reduction of non-controlling interest totaling $191 million and the recognition of a deferred tax asset totaling $85 million from changes in book versus tax basis in CVR Refining. As of September 30, 2018 , and following the exchange offer, Icahn Enterprises L.P. (“IEP”) and its affiliates owned approximately 71% of the Company’s outstanding shares. On October 24, 2018 , the board of directors of the Company declared a cash dividend for the third quarter of 2018 to the Company’s stockholders of $0.75 per share, or $75 million in the aggregate. The dividend will be paid on November 12, 2018 to stockholders of record at the close of business on November 5, 2018 . IEP will receive $54 million in respect of its ownership interest in the Company’s shares. CVR Refining, LP As of September 30, 2018 , public security holders held approximately 19% of CVR Refining’s outstanding common units (including units owned by affiliates of IEP, representing approximately 3.9% of CVR Refining’s outstanding common units), CVR Energy, Inc. and CVR Refining Holdings, LLC (“CVR Refining Holdings”), an indirect wholly-owned subsidiary of CVR Energy, owned 100% of CVR Refining’s noneconomic general partner interest and approximately 81% of CVR Refining’s outstanding limited partner interests. The noncontrolling interest reflected on the Condensed Consolidated Balance Sheets of CVR is impacted by the net income of, and distributions from, CVR Refining. On October 24, 2018 , the board of directors of CVR Refining’s general partner declared a cash distribution for the third quarter of 2018 to CVR Refining’s unitholders of $0.90 per common unit, or $133 million in aggregate. The cash distribution will be paid on November 12, 2018 to unitholders of record at the close of business on November 5, 2018 . The Company will receive $107 million in respect of its CVR Refining common units. CVR Partners, LP As of September 30, 2018 , public security holders held approximately 66% of CVR Partner’s outstanding common units, and Coffeyville Resources, LLC (“CRLLC”), a wholly-owned subsidiary of CVR Energy, held approximately 34% of CVR Refining’s outstanding common units. In addition, CRLLC owns 100% of CVR Partner’s general partner, CVR GP, LLC, which holds a non-economic general partner interest. The noncontrolling interest reflected on the Condensed Consolidated Balance Sheets of CVR is impacted by the net income of, and distributions from, CVR Partners. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These condensed consolidated financial statements should be read in conjunction with the December 31, 2017 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2017 , which was filed with the SEC on February 26, 2018 the (the “2017 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Refining and CVR Partners, which are defined as variable interest entities. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary to fairly present the financial position of the Company as of September 30, 2018 and December 31, 2017 , the results of operations of the Company for the three and nine month periods ended September 30, 2018 and 2017 and the cash flows of the Company for the nine month periods ended September 30, 2018 and 2017 . Such adjustments are of a normal recurring nature, unless otherwise disclosed. Certain information has been reclassified to present historical information in a manner consistent with current presentation. The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Results of operations and cash flows for the interim periods presented are not necessarily indicative of the results that will be realized for the year ending December 31, 2018 or any other interim or annual period.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Recent Accounting Pronouncements	(2) Recent Accounting Pronouncements Adoption of New Revenue Standard On January 1, 2018, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) using the modified retrospective method applied to contracts which were not completed as of January 1, 2018. The standard was applied prospectively and the comparative information for 2017 has not been restated and continues to be reported under the accounting standards in effect for the prior period. The Company did not identify any material differences in its existing revenue recognition methods that require modification under the new standard and, as such, a cumulative effect adjustment of applying the standard using the modified retrospective method was not recorded. Impact on Financial Statements The Company identified presentation changes associated with contracts requiring customer prepayment prior to delivery and the need to gross up certain fees collected from customers. Prior to adoption of ASC 606, deferred revenue was recorded by CVR Partners upon customer prepayment. Under the new revenue standard, a receivable and associated deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional. The adoption of ASC 606 resulted in a $21 million increase to deferred revenue and accounts receivable as of January 1, 2018. After the effect of adoption of the new revenue standard, deferred revenue and accounts receivable of CVR Partners were $34 million and $31 million , respectively, as of January 1, 2018. Additionally, fees collected from certain customers were previously recorded as a reduction to cost of materials and other. The particular fee, the Oil Spill Liability Tax, relates to taxes imposed on refineries as part of the crude oil procurement process, is charged to certain of CVR Refining’s customers on product sales and is required under the new standard to be included in the transaction price. The impact of the change in presentation was an increase of $1 million to net sales and cost of materials and other for the three and nine months ended September 30, 2018 . The following tables display the effect of the changes to the Condensed Consolidated Balance Sheet as of September 30, 2018 for the adoption of ASC 606. The Company’s Condensed Consolidated Statement of Cash Flows was not impacted due to the adoption of ASC 606 for the three and nine months ended September 30, 2018 . September 30, 2018 Balance Sheet As Reported Balances Without Adoption of ASC 606 Effect of Change (In millions) Assets Accounts Receivable $ 214 $ 207 $ 7 Liabilities Deferred Revenue $ 32 $ 25 $ 7 New Accounting Standards Issued But Not Yet Implemented In February 2016, the FASB issued ASU No. 2016-02, “ Leases ” (“ASU 2016-02”), creating a new topic, FASB ASC Topic 842, “Leases” (“ Topic 842 ”) , which supersedes lease requirements in FASB ASC Topic 840, “Leases” . The new standard revises accounting for operating leases by a lessee, among other changes, and requires a lessee to recognize a liability related to future lease payments and an asset representing its right to use of the underlying asset for the lease term on the balance sheet. Quantitative and qualitative disclosures, including disclosures regarding significant judgments made by management, will be required. In July 2018, the FASB issued updated guidance which provides entities with an additional transition method to adopt Topic 842. Under the new transition method, an entity initially applies the new leases standard at the adoption date, versus at the beginning of the earliest period presented, and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company expects to elect this transition method at the adoption date of January 1, 2019. The Company also plans to elect the short-term lease exception provided for in the standard and therefore will only recognize right-of-use assets and lease liabilities for leases with a term greater than one year. The Company continues to focus its implementation efforts on accounting policy and disclosure updates and system implementation necessary to meet the standard’s requirements. Based on information available to date, the Company estimates the operating lease right of use asset and lease liability may approximate $50.0 - $100.0 million upon adoption. This preliminary estimate of the effect on the Company’s Consolidated Balance Sheets as a result of implementing the standard on January 1, 2019 could differ materially depending on guidance changes from the FASB, changes in outstanding leases, final verification of the Company’s lease accounting estimates, and any changes in the Company’s plans to elect certain practical expedients. The Company does not expect the adoption of this standard to have a material impact on the recognition, measurement or presentation of amounts within the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Cash Flows. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40). This ASU addresses customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract and also adds certain disclosure requirements related to implementation costs incurred for internal-use software and cloud computing arrangements. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This standard is effective for the Company beginning January 1, 2020, with early adoption permitted. The amendments in this standard can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is evaluating the effect of adopting this new accounting guidance on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820). The ASU eliminates such disclosures as the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. Certain disclosures are required to be applied on a retrospective basis and others on a prospective basis. This standard is effective for the Company beginning January 1, 2020, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting guidance, but does not expect adoption will have a material impact on the Company's disclosures.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue	(3) Revenue The following tables present the Company’s revenue disaggregated by major product. The following tables include a reconciliation of the disaggregated revenue with the Company’s reportable segments. Three Months Ended September 30, 2018 (In millions) Petroleum Nitrogen Fertilizer Other / Eliminations Consolidated Major Product Gasoline $ 951 $ — $ — $ 951 Distillates (a) 840 — — 840 Ammonia — 11 — 11 UAN — 53 — 53 Urea products — 5 — 5 Freight revenue 6 9 — 15 Other (b) 47 2 (2 ) 47 Revenue from product sales 1,844 80 (2 ) 1,922 Crude oil sales 12 — — 12 Other revenue 1 — — 1 Total revenue $ 1,857 $ 80 $ (2 ) $ 1,935 Nine Months Ended September 30, 2018 (In millions) Petroleum Nitrogen Fertilizer Other / Eliminations Consolidated Major Product Gasoline $ 2,558 $ — $ — $ 2,558 Distillates (a) 2,324 — — 2,324 Ammonia — 51 — 51 UAN — 157 — 157 Urea products — 15 — 15 Freight revenue 17 24 — 41 Other (b) 161 6 (6 ) 161 Revenue from product sales 5,060 253 (6 ) 5,307 Crude oil sales 75 — — 75 Other revenue 4 — — 4 Total revenue $ 5,139 $ 253 $ (6 ) $ 5,386 (a) Distillates consist primarily of diesel fuel, kerosene and jet fuel. (b) Other revenue consists primarily of feedstock and asphalt sales and Cushing, OK storage tank lease revenue. See Note 6 (Property, Plant and Equipment) for further discussion. Petroleum The petroleum segment’s revenue from product sales is recorded upon delivery of the products to customers, which is the point at which title is transferred and the customer has assumed the risk of loss. This generally takes place as product passes into the pipeline, as a product transfer order occurs within a pipeline system, or as product enters equipment or locations supplied or designated by the customer. The petroleum segment has elected to apply the sales tax practical expedient, whereby qualifying excise and other taxes collected from customers and remitted to governmental authorities are not included in reported revenues. Many of the petroleum segment’s contracts have index-based pricing which is considered variable consideration that should be estimated in determining the transaction price. The petroleum segment determined that it does not need to estimate the variable consideration because the uncertainty related to the consideration is resolved on the pricing date or the date when the product is delivered. The petroleum segment may incur broker commissions or transportation costs prior to product transfer on some of its sales. The petroleum segment has elected to apply the practical expedient allowing it to expense the broker costs since the contract durations are less than a year in length. Transportation costs are accounted for as fulfillment costs and are expensed as incurred since they do not meet the requirement for capitalization. The petroleum segment’s contracts with its customers state the terms of the sale, including the description, quantity, and price of each product sold. Depending on the product sold, payment from customers is generally due in full within 2 to 32 days of product delivery or invoice date. The petroleum segment’s contracts with customers commonly include a provision which states that the petroleum segment will accept customer returns of off-spec product, refund the customer (or provide on-spec product), and pay for damages to any customer equipment which resulted from the off-spec product. Typically, if the customer is not satisfied with the product, the price is adjusted downward instead of the product being returned or exchanged. The petroleum segment has determined that product returns or refunds are very rare and will account for them as they occur. The petroleum segment generally provides no warranty other than the implicit promise that goods delivered are free of liens and encumbrances and meet the agreed upon specification. Freight revenue recognized by the petroleum segment is primarily tariff and line loss charges rebilled to customers to reimburse the petroleum segment for expenses incurred from a pipeline operator. An offsetting expense is included in cost of materials and other. Nitrogen Fertilizer The nitrogen fertilizer segment sells its products on a wholesale basis under a contract or by purchase order. The nitrogen fertilizer segment’s contracts with customers, including purchase orders, generally contain fixed pricing and most have terms of less than one year. The nitrogen fertilizer segment recognizes revenue at the point in time at which the customer obtains control of the product, which is generally upon delivery and acceptance by the customer. The customer acceptance point is stated in the contract and may be at one of the nitrogen fertilizer segment’s manufacturing facilities, at one of the nitrogen fertilizer segment’s off-site loading facilities, or at the customer’s designated facility. Freight revenue recognized by the nitrogen fertilizer segment represents the pass-through finished goods delivery costs incurred prior to customer acceptance and is reimbursed by customers. An offsetting expense for freight is included in cost of materials and other. Qualifying taxes collected from customers and remitted to governmental authorities are not included in reported revenues. Depending on the product sold and the type of contract, payments from customers are generally either due prior to delivery or within 15 to 30 days of product delivery. The nitrogen fertilizer segment generally provides no warranty other than the implicit promise that goods delivered are free of liens and encumbrances and meet the agreed upon specifications. Product returns are rare, and as such, the nitrogen fertilizer segment does not record a specific warranty reserve or consider activities related to such warranty, if any, to be a separate performance obligation. The nitrogen fertilizer segment has an immaterial amount of variable consideration for contracts with an original duration of less than a year. A small portion of the nitrogen fertilizer partnership’s revenue includes contracts extending beyond one year, some of which contain variable pricing in which the majority of the variability is attributed to the market-based pricing. The nitrogen fertilizer segment’s contracts do not contain a significant financing component. The nitrogen fertilizer segment has an immaterial amount of fee-based revenue, included in other revenue in the table above, that is recognized based on the net amount of the proceeds received, consistent with prior accounting practice. Transaction price allocated to remaining performance obligations As of September 30, 2018 , CVR Partners had approximately $12 million of remaining performance obligations for contracts with an original expected duration of more than one year. CVR Partners expects to recognize approximately 51% of these performance obligations as revenue by the end of 2019, an additional 25% by 2020 and the remaining balance thereafter. Contract balances The CVR Partners’ deferred revenue is a contract liability that primarily relates to fertilizer sales contracts requiring customer prepayment prior to product delivery to guarantee a price and supply of nitrogen fertilizer. Deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional prior to transferring product to the customer. An associated receivable is recorded for uncollected prepaid contract amounts. Contracts requiring prepayment are generally short-term in nature and, as discussed above, revenue is recognized at the point in time in which the customer obtains control of the product. A summary of CVR Partners’ deferred revenue activity during the nine months ended September 30, 2018 is presented below: (In millions) Nine Months Ended September 30, Balance at January 1, 2018 $ 34 Add: New prepay contracts entered into during the period 36 Less: Revenue recognized that was included in the contract liability balance at the beginning of the period 34 Revenue recognized related to contracts entered into during the period 4 Balance at September 30, 2018 $ 32

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	(4) Share-Based Compensation There have been no material new awards or changes in existing awards during 2018. A summary of share-based compensation expense during the three and nine months ended September 30, 2018 and 2017 are presented below: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2018 2017 2018 2017 CVR Energy LTIP Performance Unit Award $ 1 $ 1 $ 3 $ 3 CVR Refining LTIP Phantom Units Award 1 1 8 4 CVR Partners LTIP Phantom Units Award 1 — 2 1 Incentive Unit Awards 2 1 4 3 Total Share-Based Compensation Expense $ 5 $ 3 $ 17 $ 11

Inventories

Inventories	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Inventories	(5) Inventories (In millions) September 30, 2018 December 31, 2017 Raw materials and precious metals $ 139 $ 114 In-process inventories 19 22 Finished goods 195 172 Parts and supplies 74 77 Total Inventories $ 427 $ 385

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	(6) Property, Plant and Equipment (In millions) September 30, 2018 December 31, 2017 Land and improvements $ 43 $ 48 Buildings 82 83 Machinery and equipment 3,741 3,734 Other 160 138 4,026 4,003 Less: Accumulated depreciation 1,585 1,431 Total property, plant and equipment, net $ 2,441 $ 2,572 Capitalized interest recognized as a reduction in interest expense was immaterial for the three and nine month periods ended September 30, 2018 and 2017. During the period, we began actively marketing assets with a carrying value of $33 million at September 30, 2018 . The carrying value of these assets held for sale were included in other long-term assets on our Condensed Consolidated Balance Sheets. No loss was recognized upon designation of these assets as held for sale.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Long-Term Debt	(7) Long-Term Debt Debt Balance, Net of Current Maturities and Unamortized Issuance Costs (In millions) September 30, 2018 December 31, 2017 6.50% Senior Notes due 2022 (a) $ 500 $ 500 9.25% Senior Secured Notes due 2023 (b) 645 645 6.50% Senior Notes due 2021 2 2 Capital lease obligations 43 45 Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations 1,190 1,192 Less: Unamortized debt issuance cost and debt discount (22 ) (26 ) Current portion of capital lease obligations (2 ) (2 ) Long-term debt, net of current portion $ 1,166 $ 1,164 (a) The estimated fair value of total long-term debt outstanding was approximately $508 million and $515 million as of September 30, 2018 and December 31, 2017, respectively. (b) The estimated fair value of total long-term debt outstanding was approximately $684 million and $694 million as of September 30, 2018 and December 31, 2017, respectively. Total Capacity Amount Borrowed as of September 30, 2018 Outstanding Letters of Credit Available Capacity as of September 30, 2018 Maturity Date Amended and Restated Asset Based (ABL) Credit Facility (c) $ 400 $ — $ 6 $ 394 November 14, 2022 Asset Based (ABL) Credit Facility (d) 50 — — 50 September 30, 2021 (c) Loans under the Amended and Restated ABL Credit Facility initially bear interest at an annual rate equal to (i) 1.50% plus LIBOR or (ii) 0.50% plus a base rate, subject to quarterly excess availability. (d) Loans under the ABL Credit Facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter’s excess availability. The Company is in compliance with all covenants of the ABL credit facilities and the senior notes as of September 30, 2018 .

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	(8) Supplemental Cash Flow Information Cash flows related to income taxes, interest, construction in process and dividends were as follows: Nine Months Ended (In millions) 2018 2017 Supplemental disclosures: Cash paid for income taxes, net of refunds $ 13 $ 10 Cash paid for interest 55 56 Non-cash investing and financing activities: Construction in progress additions included in accounts payable $ 10 $ 8 Change in accounts payable related to construction in progress additions 2 9 Landlord incentives for leasehold improvements — 1

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(9) Commitments and Contingencies There have been no material changes in the Company’s commitments and contingencies disclosed in the 2017 Form 10-K. In the ordinary course of business, the Company may become party to lawsuits, administrative proceedings and governmental investigations, including environmental, regulatory and other matters. The outcome of these matters cannot always be predicted accurately, but the Company accrues liabilities for these matters if the Company has determined that it is probable a loss has been incurred and the loss can be reasonably estimated. While it is not possible to predict the outcome of such proceedings, if one or more of them were decided against us, the Company believes there would be no material impact on its consolidated financial statements. Crude Oil Supply Agreement On August 31, 2012, Coffeyville Resources Refining and Marketing, LLC (“CRRM”), a wholly-owned subsidiary of CVR Refining, and Vitol Inc. (“Vitol”) entered into an Amended and Restated Crude Oil Supply Agreement (as amended, the “Vitol Agreement”). Under the Vitol Agreement, Vitol supplies the petroleum business with crude oil and intermediation logistics, which helps to reduce CVR Refining’s inventory position and mitigate crude oil pricing risk. The Vitol Agreement will automatically renew for successive one -year terms (each such term, a “Renewal Term”) unless either party provides the other with notice of nonrenewal at least 180 days prior to the expiration of any Renewal Term. The Vitol Agreement currently extends through December 31, 2019. Renewable Fuel Standards CVR Refining is subject to the Renewable Fuel Standard (“RFS”) of the Environmental Protection Agency (“EPA”), which requires refiners to either blend “renewable fuels” in with their transportation fuels or purchase renewable fuel credits, known as renewable identification numbers (“RINs”), in lieu of blending. Due to mandates in the RFS requiring increasing volumes of renewable fuels to replace petroleum products in the U.S. transportation fuel market, there may be a decrease in demand for petroleum products. CVR Refining is not able to blend the substantial majority of its transportation fuels and has to purchase RINs on the open market, as well as waiver credits for cellulosic biofuels from the EPA, in order to comply with the RFS. The price of RINs has been extremely volatile over several years. The cost of RINs is dependent upon a variety of factors, which include the availability of RINs for purchase, the price at which RINs can be purchased, transportation fuel production levels, the mix of the petroleum business’ petroleum products, as well as the fuel blending performed at its refineries and downstream terminals, all of which can vary significantly from period to period. The net cost of RINs for the three months ended September 30, 2018 and 2017 was $20 million and $64 million , respectively. The net cost of RINs for the nine months ended September 30, 2018 and 2017 was $47 million and $164 million , respectively. The net costs of RINs was a reduction to cost of materials and other in the Condensed Consolidated Statements of Operations. RINs expense includes the purchased cost of RINs, the impact of recognizing CVR Refining’s uncommitted biofuel blending obligation at fair value based on market prices at each reporting date and is reduced by the valuation change of RINs purchases in excess of CVR Refining’s RFS obligation as of the reporting date. During the three and nine months ended September 30, 2018 , the net cost of RINs was favorably impacted by a reduction in CVR Refining’s RFS obligation and reduced market pricing. As of September 30, 2018 and December 31, 2017 , CVR Refining’s biofuel blending obligation was approximately $7 million and $28 million , respectively, which was recorded in other current liabilities on the Condensed Consolidated Balance Sheets. CVR Refining recorded a RINs asset within prepaid and other current assets in the Condensed Consolidated Balance Sheet of $4 million , representing excess RINs primarily due to a reduction in its RFS obligation during the first quarter of 2018. Litigation The U.S. Attorney's office for the Southern District of New York contacted CVR Energy in September 2017 seeking production of information pertaining to CVR Refining's, CVR Energy's and Mr. Carl C. Icahn's activities relating to the Renewable Fuel Standard ("RFS") and Mr. Icahn's former role as an advisor to the President. CVR Energy is cooperating with the request and provided information in response to the subpoena. The U.S. Attorney's office has not made any claims or allegations against CVR Energy or Mr. Icahn. CVR Energy maintains a strong compliance program and, while no assurances can be made, CVR Energy does not believe this inquiry will have a material impact on its business, financial condition, results of operations or cash flows. On August 21, 2018, CRRM received a letter from the United States Department of Justice (“DOJ”) on behalf of the EPA and Kansas Department of Health and Environment (“KDHE”) alleging violations of the Clean Air Act (“CAA”) and a 2012 Consent Decree between CRRM, the United States (on behalf of EPA) and KDHE at CRRM’s Coffeyville refinery. In September 2018, CRRM executed a tolling agreement with the DOJ and KDHE extending time for negotiation regarding the agencies’ allegations through March 31, 2019. At this time the Company cannot reasonably estimate the potential penalties, costs, fines or other expenditures that may result from this matter or any subsequent enforcement or litigation relating thereto and, therefore, the Company cannot determine if the ultimate outcome of this matter will have a material impact on the Company’s financial position, results of operations or cash flows. In 2018, CVR Partners submitted a business interruption claim for losses under its insurance policies, related to damage and resulting reduced equipment production rates experienced during the second half of 2017 and early 2018. At this time, the Company cannot estimate either the outcome of this claim or the timing of any potential recoveries. In September 2018, the Kansas Court of Appeals upheld property tax determinations by the Kansas Board of Tax Appeals in connection with CVR Partners’ dispute with Montgomery County, Kansas over prior year property tax payments as previously disclosed. CVR Partners continues to monitor this matter. Affiliate Pension Obligations Prior to the exchange offer discussed in Note 1, Mr. Carl C. Icahn, through certain affiliates, owned approximately 82% of the Company’s capital stock. Applicable pension and tax laws make each member of a “controlled group” of entities, generally defined as entities in which there is at least an 80% common ownership interest, jointly and severally liable for certain pension plan obligations of any member of the controlled group. These pension obligations include ongoing contributions to fund the plan, as well as liability for any unfunded liabilities that may exist at the time the plan is terminated. As a result of the historical ownership interest in CVR Energy by Mr. Icahn’s affiliates (prior to the exchange offer), the Company was subject to the pension liabilities of all entities in which Mr. Icahn had a direct or indirect ownership interest of at least 80% . Two such entities, ACF Industries LLC (“ACF”) and Federal-Mogul, are the sponsors of several pension plans. As members of the controlled group, CVR Energy would be liable for any failure of ACF and Federal-Mogul to make ongoing pension contributions or to pay the unfunded liabilities upon a termination of their respective pension plans. The unfunded plan balances for these sponsors was $435 million and $424 million as of June 30, 2018 and December 31, 2017, respectively. These results are based on the information provided by Mr. Icahn’s affiliates based on information from the plans’ actuaries. As of September 30, 2018, and following the exchange offer, Mr. Icahn’s affiliates own approximately 71% of the Company’s capital stock and, therefore the Company is no longer considered to be liable for the aforementioned pension obligations of the controlled group. On October 1, 2018, Federal-Mogul was sold by Mr. Icahn’s affiliates to a third party.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	(10) Fair Value Measurements In accordance with FASB ASC Topic 820 — Fair Value Measurements and Disclosures (“ASC 820”), the Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets, liabilities or a group of assets or liabilities, such as a business. ASC 820 utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: • Level 1 — Quoted prices in active markets for identical assets or liabilities • Level 2 — Other significant observable inputs (including quoted prices in active markets for similar assets or liabilities) • Level 3 — Significant unobservable inputs (including the Company’s own assumptions in determining the fair value) The following tables set forth the assets and liabilities measured at fair value on a recurring basis, by input level, as of September 30, 2018 and December 31, 2017 : Location and Description September 30, 2018 (In millions) Level 1 Level 2 Level 3 Total Cash equivalents $ 50 $ — $ — $ 50 Total Assets $ 50 $ — $ — $ 50 Other current liabilities (commodity derivatives) $ — $ (30 ) $ — $ (30 ) Other current liabilities (biofuel blending obligation) — (2 ) — (2 ) Total Liabilities $ — $ (32 ) $ — $ (32 ) Location and Description December 31, 2017 (In millions) Level 1 Level 2 Level 3 Total Cash equivalents $ 15 $ — $ — $ 15 Total Assets $ 15 $ — $ — $ 15 Other current liabilities (commodity derivatives) $ — $ (64 ) $ — $ (64 ) Other long-term liabilities (biofuel blending obligation) — (1 ) — (1 ) Total Liabilities $ — $ (65 ) $ — $ (65 ) As of September 30, 2018 and December 31, 2017 , the only financial assets and liabilities that are measured at fair value on a recurring basis are the Company’s cash equivalents, investments, derivative instruments and the uncommitted biofuel blending obligation. Additionally, the fair value of the Company’s debt issuances is disclosed in Note 7 ("Long-Term Debt") . CVR Refining’s commodity derivative contracts and the uncommitted biofuel blending obligation, which use fair value measurements and are valued using broker quoted market prices of similar instruments, are considered Level 2 inputs. The Company had no transfers of assets and liabilities between any of the above levels during the nine months ended September 30, 2018 .

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	(11) Derivative Financial Instruments CVR Refining and CVR Partners are subject to price fluctuations caused by supply conditions, weather, economic conditions, interest rate fluctuations and other factors. To manage price risk on crude oil and other inventories and to fix margins on certain future production, CVR Refining from time to time enters into various commodity derivative transactions. CVR Refining does not apply hedge accounting with respect to derivative instruments held. Gains or losses related to the change in fair value and periodic settlements of these derivative instruments are classified as gain (loss) on derivatives, net in the Condensed Consolidated Statements of Operations. CVR Refining has adopted accounting standards which impose extensive record-keeping requirements in order to designate a derivative financial instrument as a hedge. CVR Refining holds derivative instruments, such as exchange-traded crude oil futures and certain over-the-counter forward swap agreements, which it believes provide an economic hedge on future transactions, but such instruments are not designated as hedges under GAAP. There are no premiums paid or received at inception of the derivative contracts and upon settlement. CVR Refining enters into commodity swap contracts in order to fix the margin on a portion of future production. Additionally, CVR Refining may enter into price and basis swaps in order to fix the price on a portion of its commodity purchases and product sales. The physical volumes are not exchanged and these contracts are net settled with cash. The contract fair value of the commodity swaps is reflected on the Condensed Consolidated Balance Sheets with changes in fair value currently recognized in the Condensed Consolidated Statements of Operations. Quoted prices for similar assets or liabilities in active markets (Level 2) are considered to determine the fair values for the purpose of marking to market the hedging instruments at each period end. The fair value of the outstanding contracts at September 30, 2018 and December 31, 2017 was a net unrealized loss of $30 million and $64 million , respectively, all of which was included in other current liabilities. A change of $1.00 per barrel in the fair value of the benchmark crude or product basis would result in an increase or decrease in the related fair value of the commodity instruments and forward purchase and sale commitments of $1 million . Gain (Loss) on Derivatives Three Months Ended Nine Months Ended (In millions) 2018 2017 2018 2017 Gain (loss) on derivatives, net: Forward purchases $ 4 $ — $ 33 $ — Swaps — (17 ) 43 (5 ) Futures 1 — (1 ) — Total gain (loss) on derivatives, net $ 5 $ (17 ) $ 75 $ (5 ) Open Commodity Derivative Instruments (In millions of barrels) September 30, 2018 December 31, 2017 Commodity Swap Instruments: 2-1-1 Crack spreads — 7 Distillate Crack spreads — 4 Gasoline Crack spreads — 4 Purchase and Sale Commitments: Canadian crude oil 2 6 Offsetting Assets and Liabilities The commodity swap agreements discussed above include multiple derivative positions with a number of counterparties for which CVR Refining has entered into agreements governing the nature of the derivative transactions. Each of the counterparty agreements provides for the right to setoff each individual derivative position to arrive at the net receivable due from the counterparty or payable owed by CVR Refining. As a result of the right to setoff, CVR Refining’s recognized assets and liabilities associated with the outstanding commodity swap derivative positions have been presented net in the Condensed Consolidated Balance Sheets. The tables below outline the gross amounts of the recognized assets and liabilities and the gross amounts offset in the Condensed Consolidated Balance Sheets for the various types of open derivative positions at CVR Refining. The offsetting assets and liabilities for CVR Refining’s derivatives as of September 30, 2018 and December 31, 2017 are recorded as current assets and current liabilities in prepaid expenses and other current assets and accrued expenses and other current liabilities, respectively, in the Condensed Consolidated Balance Sheets as follows: Derivative Assets Derivative Liabilities (In millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Commodity Derivatives $ 5 $ 7 $ 35 $ 71 Less: Counterparty Netting (5 ) (7 ) (5 ) (7 ) Total Net Fair Value of Derivatives $ — $ — $ 30 $ 64 Commodity derivatives include commodity swaps and forward purchase and sale commitments. There were no outstanding commodity swap positions as of September 30, 2018 .

Shareholders Equity

Shareholders Equity	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Shareholders Equity	(12) Shareholders Equity The following table summarizes the shareholders equity and the Non-Controlling interest for the nine months ended September 30, 2018. (In millions) Total CVR Stockholders’ Equity Noncontrolling Interest Total Equity Balance at December 31, 2017 $ 919 $ 785 $ 1,704 Net income 207 97 304 Additional paid-in capital impact of CVRR units exchange 276 (191 ) 85 Dividends to CVR Energy stockholders (162 ) — (162 ) Distributions to CVR Refining public unitholders — (67 ) (67 ) Other (1 ) — (1 ) Balance at September 30, 2018 $ 1,239 $ 624 $ 1,863

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	(13) Related Party Transactions Icahn Enterprises The following is a summary of dividends paid to the Company’s stockholders, including IEP, for the respective quarters to which the distributions relate: (In millions, except per share data) December 31, 2017 March 31, 2018 June 30, 2018 Total Dividends Paid in 2018 Amount paid to IEP $ 36 $ 36 $ 53 $ 125 Amount paid to public stockholders 7 8 22 37 Total amount paid $ 43 $ 44 $ 75 $ 162 Per common share $ 0.50 $ 0.50 $ 0.75 $ 1.75 Shares outstanding (in millions) 86.8 86.8 100.6 CVR Refining has made distributions to IEP of $10 million for the nine months ended September 30, 2018 relating to the three preceding quarters. Activity associated with the Company’s related party arrangements for the three and nine month periods ended September 30, 2018 and 2017 is summarized below: Expenses with related parties Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 Cost of materials and other Railcar Lease Agreements and Maintenance: ARI Leasing, LLC $ — $ — $ 1 $ 1 Payments made Insight Portfolio Group — — — — Tax Allocation Agreement: American Entertainment Properties Corporation $ 5 $ — $ 13 $ 10 Amounts due to/from related parties (in millions) September 30, 2018 December 31, 2017 Accounts Receivable (Payable) Tax Allocation Agreement: American Entertainment Properties Corporation (“AEPC”) $ — $ 5 Tax Allocation Agreement CVR has been a member of the consolidated federal tax group of American Entertainment Properties Corporation (“AEPC”), an affiliate of IEP, and party to a tax allocation agreement with AEPC (the “Tax Allocation Agreement”). The Tax Allocation Agreement provides that AEPC will pay all consolidated federal income taxes on behalf of the consolidated tax group. CVR is required to make payments to AEPC in an amount equal to the tax liability, if any, that it would have paid if it were to file as a consolidated group separate and apart from AEPC. As a result of the exchange offer discussed in Note 1, AEPC’s ownership of CVR has been reduced below 80% and CVR is no longer eligible to file as a member of the AEPC consolidated federal income tax group subsequent to the exchange. Beginning with the tax period after the exchange, CVR will become the parent of a new consolidated group for U.S. federal income tax purposes, and will file and pay its federal income tax obligations directly with the IRS. Pursuant to the terms of the Tax Allocation Agreement, however, CVR may be required to make payments in respect of taxes owed by AEPC for periods prior to the exchange. Similar principles may apply for state or local income tax purposes where CVR filed combined, consolidated or unitary tax returns with AEPC.

Segments

Segments	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Segments	(14) Segments CVR Energy’s revenues are derived from two operating segments: the petroleum segment and the nitrogen fertilizer segment. The Company evaluates the performance of its segments based primarily on segment operating income and EBITDA. For the purposes of the operating segment disclosure, the company presents operating income as it is the most comparable measure to the amounts presented on the condensed consolidated statement of operations. The other segment reflects intercompany eliminations, corporate cash and cash equivalents, income tax activities and other corporate activities that are not allocated to the operating segments. The following table summarizes certain operating results and capital expenditures information by segment: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 Net sales Petroleum $ 1,857 $ 1,386 $ 5,139 $ 4,148 Nitrogen Fertilizer 80 69 253 253 Other (2 ) (1 ) (6 ) (6 ) Total $ 1,935 $ 1,454 $ 5,386 $ 4,395 Operating Income Petroleum $ 176 $ 99 $ 390 $ 157 Nitrogen Fertilizer 3 (16 ) (1 ) 2 Other (5 ) (4 ) (14 ) (11 ) Total operating income 174 79 375 148 Interest expense, net (26 ) (28 ) (79 ) (81 ) Loss on derivatives, net 5 (17 ) 75 (5 ) Other income, net 3 — 6 — Earnings before income taxes $ 156 $ 34 $ 377 $ 62 Depreciation and amortization Petroleum 34 33 101 100 Nitrogen Fertilizer 16 20 53 55 Other 1 1 5 4 Total $ 51 $ 54 $ 159 $ 159 Capital expenditures Petroleum $ 18 $ 19 $ 50 $ 66 Nitrogen Fertilizer 6 3 15 11 Other 2 1 3 3 Total $ 26 $ 23 $ 68 $ 80 The following table summarizes total assets by segment: (in millions) As of September 30, 2018 As of December 31, 2017 Total assets Petroleum $ 2,505 $ 2,270 Nitrogen Fertilizer 1,219 1,234 Other 278 303 Total $ 4,002 $ 3,807

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These condensed consolidated financial statements should be read in conjunction with the December 31, 2017 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2017 , which was filed with the SEC on February 26, 2018 the (the “2017 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Refining and CVR Partners, which are defined as variable interest entities. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary to fairly present the financial position of the Company as of September 30, 2018 and December 31, 2017 , the results of operations of the Company for the three and nine month periods ended September 30, 2018 and 2017 and the cash flows of the Company for the nine month periods ended September 30, 2018 and 2017 . Such adjustments are of a normal recurring nature, unless otherwise disclosed. Certain information has been reclassified to present historical information in a manner consistent with current presentation. The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Results of operations and cash flows for the interim periods presented are not necessarily indicative of the results that will be realized for the year ending December 31, 2018 or any other interim or annual period.
Recent Accounting Pronouncements	Adoption of New Revenue Standard On January 1, 2018, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) using the modified retrospective method applied to contracts which were not completed as of January 1, 2018. The standard was applied prospectively and the comparative information for 2017 has not been restated and continues to be reported under the accounting standards in effect for the prior period. The Company did not identify any material differences in its existing revenue recognition methods that require modification under the new standard and, as such, a cumulative effect adjustment of applying the standard using the modified retrospective method was not recorded. Impact on Financial Statements The Company identified presentation changes associated with contracts requiring customer prepayment prior to delivery and the need to gross up certain fees collected from customers. Prior to adoption of ASC 606, deferred revenue was recorded by CVR Partners upon customer prepayment. Under the new revenue standard, a receivable and associated deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional. The adoption of ASC 606 resulted in a $21 million increase to deferred revenue and accounts receivable as of January 1, 2018. After the effect of adoption of the new revenue standard, deferred revenue and accounts receivable of CVR Partners were $34 million and $31 million , respectively, as of January 1, 2018. Additionally, fees collected from certain customers were previously recorded as a reduction to cost of materials and other. The particular fee, the Oil Spill Liability Tax, relates to taxes imposed on refineries as part of the crude oil procurement process, is charged to certain of CVR Refining’s customers on product sales and is required under the new standard to be included in the transaction price. The impact of the change in presentation was an increase of $1 million to net sales and cost of materials and other for the three and nine months ended September 30, 2018 . The following tables display the effect of the changes to the Condensed Consolidated Balance Sheet as of September 30, 2018 for the adoption of ASC 606. The Company’s Condensed Consolidated Statement of Cash Flows was not impacted due to the adoption of ASC 606 for the three and nine months ended September 30, 2018 . September 30, 2018 Balance Sheet As Reported Balances Without Adoption of ASC 606 Effect of Change (In millions) Assets Accounts Receivable $ 214 $ 207 $ 7 Liabilities Deferred Revenue $ 32 $ 25 $ 7 New Accounting Standards Issued But Not Yet Implemented In February 2016, the FASB issued ASU No. 2016-02, “ Leases ” (“ASU 2016-02”), creating a new topic, FASB ASC Topic 842, “Leases” (“ Topic 842 ”) , which supersedes lease requirements in FASB ASC Topic 840, “Leases” . The new standard revises accounting for operating leases by a lessee, among other changes, and requires a lessee to recognize a liability related to future lease payments and an asset representing its right to use of the underlying asset for the lease term on the balance sheet. Quantitative and qualitative disclosures, including disclosures regarding significant judgments made by management, will be required. In July 2018, the FASB issued updated guidance which provides entities with an additional transition method to adopt Topic 842. Under the new transition method, an entity initially applies the new leases standard at the adoption date, versus at the beginning of the earliest period presented, and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company expects to elect this transition method at the adoption date of January 1, 2019. The Company also plans to elect the short-term lease exception provided for in the standard and therefore will only recognize right-of-use assets and lease liabilities for leases with a term greater than one year. The Company continues to focus its implementation efforts on accounting policy and disclosure updates and system implementation necessary to meet the standard’s requirements. Based on information available to date, the Company estimates the operating lease right of use asset and lease liability may approximate $50.0 - $100.0 million upon adoption. This preliminary estimate of the effect on the Company’s Consolidated Balance Sheets as a result of implementing the standard on January 1, 2019 could differ materially depending on guidance changes from the FASB, changes in outstanding leases, final verification of the Company’s lease accounting estimates, and any changes in the Company’s plans to elect certain practical expedients. The Company does not expect the adoption of this standard to have a material impact on the recognition, measurement or presentation of amounts within the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Cash Flows. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40). This ASU addresses customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract and also adds certain disclosure requirements related to implementation costs incurred for internal-use software and cloud computing arrangements. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This standard is effective for the Company beginning January 1, 2020, with early adoption permitted. The amendments in this standard can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is evaluating the effect of adopting this new accounting guidance on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820). The ASU eliminates such disclosures as the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. Certain disclosures are required to be applied on a retrospective basis and others on a prospective basis. This standard is effective for the Company beginning January 1, 2020, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting guidance, but does not expect adoption will have a material impact on the Company's disclosures.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Tables)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Effect of the change to Condensed Consolidated Balance Sheet	The following tables display the effect of the changes to the Condensed Consolidated Balance Sheet as of September 30, 2018 for the adoption of ASC 606. The Company’s Condensed Consolidated Statement of Cash Flows was not impacted due to the adoption of ASC 606 for the three and nine months ended September 30, 2018 . September 30, 2018 Balance Sheet As Reported Balances Without Adoption of ASC 606 Effect of Change (In millions) Assets Accounts Receivable $ 214 $ 207 $ 7 Liabilities Deferred Revenue $ 32 $ 25 $ 7

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue disaggregated by major product	The following tables present the Company’s revenue disaggregated by major product. The following tables include a reconciliation of the disaggregated revenue with the Company’s reportable segments. Three Months Ended September 30, 2018 (In millions) Petroleum Nitrogen Fertilizer Other / Eliminations Consolidated Major Product Gasoline $ 951 $ — $ — $ 951 Distillates (a) 840 — — 840 Ammonia — 11 — 11 UAN — 53 — 53 Urea products — 5 — 5 Freight revenue 6 9 — 15 Other (b) 47 2 (2 ) 47 Revenue from product sales 1,844 80 (2 ) 1,922 Crude oil sales 12 — — 12 Other revenue 1 — — 1 Total revenue $ 1,857 $ 80 $ (2 ) $ 1,935 Nine Months Ended September 30, 2018 (In millions) Petroleum Nitrogen Fertilizer Other / Eliminations Consolidated Major Product Gasoline $ 2,558 $ — $ — $ 2,558 Distillates (a) 2,324 — — 2,324 Ammonia — 51 — 51 UAN — 157 — 157 Urea products — 15 — 15 Freight revenue 17 24 — 41 Other (b) 161 6 (6 ) 161 Revenue from product sales 5,060 253 (6 ) 5,307 Crude oil sales 75 — — 75 Other revenue 4 — — 4 Total revenue $ 5,139 $ 253 $ (6 ) $ 5,386 (a) Distillates consist primarily of diesel fuel, kerosene and jet fuel. (b) Other revenue consists primarily of feedstock and asphalt sales and Cushing, OK storage tank lease revenue. See Note 6 (Property, Plant and Equipment) for further discussion.
Summary of deferred revenue activity	A summary of CVR Partners’ deferred revenue activity during the nine months ended September 30, 2018 is presented below: (In millions) Nine Months Ended September 30, Balance at January 1, 2018 $ 34 Add: New prepay contracts entered into during the period 36 Less: Revenue recognized that was included in the contract liability balance at the beginning of the period 34 Revenue recognized related to contracts entered into during the period 4 Balance at September 30, 2018 $ 32

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of share-based compensation expense	A summary of share-based compensation expense during the three and nine months ended September 30, 2018 and 2017 are presented below: Three Months Ended September 30, Nine Months Ended September 30, (In millions) 2018 2017 2018 2017 CVR Energy LTIP Performance Unit Award $ 1 $ 1 $ 3 $ 3 CVR Refining LTIP Phantom Units Award 1 1 8 4 CVR Partners LTIP Phantom Units Award 1 — 2 1 Incentive Unit Awards 2 1 4 3 Total Share-Based Compensation Expense $ 5 $ 3 $ 17 $ 11

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Schedule of components of inventories	(In millions) September 30, 2018 December 31, 2017 Raw materials and precious metals $ 139 $ 114 In-process inventories 19 22 Finished goods 195 172 Parts and supplies 74 77 Total Inventories $ 427 $ 385

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2018
Property, Plant and Equipment [Abstract]
Summary of property, plant and equipment	(In millions) September 30, 2018 December 31, 2017 Land and improvements $ 43 $ 48 Buildings 82 83 Machinery and equipment 3,741 3,734 Other 160 138 4,026 4,003 Less: Accumulated depreciation 1,585 1,431 Total property, plant and equipment, net $ 2,441 $ 2,572

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt	Debt Balance, Net of Current Maturities and Unamortized Issuance Costs (In millions) September 30, 2018 December 31, 2017 6.50% Senior Notes due 2022 (a) $ 500 $ 500 9.25% Senior Secured Notes due 2023 (b) 645 645 6.50% Senior Notes due 2021 2 2 Capital lease obligations 43 45 Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations 1,190 1,192 Less: Unamortized debt issuance cost and debt discount (22 ) (26 ) Current portion of capital lease obligations (2 ) (2 ) Long-term debt, net of current portion $ 1,166 $ 1,164 (a) The estimated fair value of total long-term debt outstanding was approximately $508 million and $515 million as of September 30, 2018 and December 31, 2017, respectively. (b) The estimated fair value of total long-term debt outstanding was approximately $684 million and $694 million as of September 30, 2018 and December 31, 2017, respectively. Total Capacity Amount Borrowed as of September 30, 2018 Outstanding Letters of Credit Available Capacity as of September 30, 2018 Maturity Date Amended and Restated Asset Based (ABL) Credit Facility (c) $ 400 $ — $ 6 $ 394 November 14, 2022 Asset Based (ABL) Credit Facility (d) 50 — — 50 September 30, 2021 (c) Loans under the Amended and Restated ABL Credit Facility initially bear interest at an annual rate equal to (i) 1.50% plus LIBOR or (ii) 0.50% plus a base rate, subject to quarterly excess availability. (d) Loans under the ABL Credit Facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter’s excess availability.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of cash flows related to income taxes, interest, construction in process and dividends	Cash flows related to income taxes, interest, construction in process and dividends were as follows: Nine Months Ended (In millions) 2018 2017 Supplemental disclosures: Cash paid for income taxes, net of refunds $ 13 $ 10 Cash paid for interest 55 56 Non-cash investing and financing activities: Construction in progress additions included in accounts payable $ 10 $ 8 Change in accounts payable related to construction in progress additions 2 9 Landlord incentives for leasehold improvements — 1

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	The following tables set forth the assets and liabilities measured at fair value on a recurring basis, by input level, as of September 30, 2018 and December 31, 2017 : Location and Description September 30, 2018 (In millions) Level 1 Level 2 Level 3 Total Cash equivalents $ 50 $ — $ — $ 50 Total Assets $ 50 $ — $ — $ 50 Other current liabilities (commodity derivatives) $ — $ (30 ) $ — $ (30 ) Other current liabilities (biofuel blending obligation) — (2 ) — (2 ) Total Liabilities $ — $ (32 ) $ — $ (32 ) Location and Description December 31, 2017 (In millions) Level 1 Level 2 Level 3 Total Cash equivalents $ 15 $ — $ — $ 15 Total Assets $ 15 $ — $ — $ 15 Other current liabilities (commodity derivatives) $ — $ (64 ) $ — $ (64 ) Other long-term liabilities (biofuel blending obligation) — (1 ) — (1 ) Total Liabilities $ — $ (65 ) $ — $ (65 )

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (loss) on derivatives	Gain (Loss) on Derivatives Three Months Ended Nine Months Ended (In millions) 2018 2017 2018 2017 Gain (loss) on derivatives, net: Forward purchases $ 4 $ — $ 33 $ — Swaps — (17 ) 43 (5 ) Futures 1 — (1 ) — Total gain (loss) on derivatives, net $ 5 $ (17 ) $ 75 $ (5 )
Schedule of open commodity derivative instruments	Open Commodity Derivative Instruments (In millions of barrels) September 30, 2018 December 31, 2017 Commodity Swap Instruments: 2-1-1 Crack spreads — 7 Distillate Crack spreads — 4 Gasoline Crack spreads — 4 Purchase and Sale Commitments: Canadian crude oil 2 6
Derivative offsetting assets	The offsetting assets and liabilities for CVR Refining’s derivatives as of September 30, 2018 and December 31, 2017 are recorded as current assets and current liabilities in prepaid expenses and other current assets and accrued expenses and other current liabilities, respectively, in the Condensed Consolidated Balance Sheets as follows: Derivative Assets Derivative Liabilities (In millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Commodity Derivatives $ 5 $ 7 $ 35 $ 71 Less: Counterparty Netting (5 ) (7 ) (5 ) (7 ) Total Net Fair Value of Derivatives $ — $ — $ 30 $ 64
Derivative offsetting liabilities	The offsetting assets and liabilities for CVR Refining’s derivatives as of September 30, 2018 and December 31, 2017 are recorded as current assets and current liabilities in prepaid expenses and other current assets and accrued expenses and other current liabilities, respectively, in the Condensed Consolidated Balance Sheets as follows: Derivative Assets Derivative Liabilities (In millions) September 30, 2018 December 31, 2017 September 30, 2018 December 31, 2017 Commodity Derivatives $ 5 $ 7 $ 35 $ 71 Less: Counterparty Netting (5 ) (7 ) (5 ) (7 ) Total Net Fair Value of Derivatives $ — $ — $ 30 $ 64

Shareholders Equity (Tables)

Shareholders Equity (Tables)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Summary of shareholders equity and non-controlling interest	The following table summarizes the shareholders equity and the Non-Controlling interest for the nine months ended September 30, 2018. (In millions) Total CVR Stockholders’ Equity Noncontrolling Interest Total Equity Balance at December 31, 2017 $ 919 $ 785 $ 1,704 Net income 207 97 304 Additional paid-in capital impact of CVRR units exchange 276 (191 ) 85 Dividends to CVR Energy stockholders (162 ) — (162 ) Distributions to CVR Refining public unitholders — (67 ) (67 ) Other (1 ) — (1 ) Balance at September 30, 2018 $ 1,239 $ 624 $ 1,863

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Summary of dividends paid	The following is a summary of dividends paid to the Company’s stockholders, including IEP, for the respective quarters to which the distributions relate: (In millions, except per share data) December 31, 2017 March 31, 2018 June 30, 2018 Total Dividends Paid in 2018 Amount paid to IEP $ 36 $ 36 $ 53 $ 125 Amount paid to public stockholders 7 8 22 37 Total amount paid $ 43 $ 44 $ 75 $ 162 Per common share $ 0.50 $ 0.50 $ 0.75 $ 1.75 Shares outstanding (in millions) 86.8 86.8 100.6
Schedule of related party transactions	Activity associated with the Company’s related party arrangements for the three and nine month periods ended September 30, 2018 and 2017 is summarized below: Expenses with related parties Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 Cost of materials and other Railcar Lease Agreements and Maintenance: ARI Leasing, LLC $ — $ — $ 1 $ 1 Payments made Insight Portfolio Group — — — — Tax Allocation Agreement: American Entertainment Properties Corporation $ 5 $ — $ 13 $ 10 Amounts due to/from related parties (in millions) September 30, 2018 December 31, 2017 Accounts Receivable (Payable) Tax Allocation Agreement: American Entertainment Properties Corporation (“AEPC”) $ — $ 5

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Operating results and capital expenditures information by segment	The following table summarizes certain operating results and capital expenditures information by segment: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2018 2017 2018 2017 Net sales Petroleum $ 1,857 $ 1,386 $ 5,139 $ 4,148 Nitrogen Fertilizer 80 69 253 253 Other (2 ) (1 ) (6 ) (6 ) Total $ 1,935 $ 1,454 $ 5,386 $ 4,395 Operating Income Petroleum $ 176 $ 99 $ 390 $ 157 Nitrogen Fertilizer 3 (16 ) (1 ) 2 Other (5 ) (4 ) (14 ) (11 ) Total operating income 174 79 375 148 Interest expense, net (26 ) (28 ) (79 ) (81 ) Loss on derivatives, net 5 (17 ) 75 (5 ) Other income, net 3 — 6 — Earnings before income taxes $ 156 $ 34 $ 377 $ 62 Depreciation and amortization Petroleum 34 33 101 100 Nitrogen Fertilizer 16 20 53 55 Other 1 1 5 4 Total $ 51 $ 54 $ 159 $ 159 Capital expenditures Petroleum $ 18 $ 19 $ 50 $ 66 Nitrogen Fertilizer 6 3 15 11 Other 2 1 3 3 Total $ 26 $ 23 $ 68 $ 80 The following table summarizes total assets by segment: (in millions) As of September 30, 2018 As of December 31, 2017 Total assets Petroleum $ 2,505 $ 2,270 Nitrogen Fertilizer 1,219 1,234 Other 278 303 Total $ 4,002 $ 3,807

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details) $ / shares in Units, $ in Millions	Nov. 12, 2018USD ($)	Oct. 24, 2018USD ($)$ / shares	Sep. 30, 2018	Jul. 31, 2018	Aug. 31, 2018USD ($)shares	Sep. 30, 2018$ / shares	Sep. 30, 2017$ / shares	Sep. 30, 2018USD ($)segment$ / shares	Sep. 30, 2017$ / shares
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Number of operating segments | segment								2
Impact of CVRR units exchange, increase to additional paid-in capital, reduction of non-controlling interest, and recognition of deferred tax asset								$ (85)
Dividends declared (in dollars per share) | $ / shares						$ 0.75	$ 0.50	$ 2	$ 1.50
Dividends declared								$ 162
CVR Refining, LP | Second Underwritten Offering
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of limited partner interest held by the public								19.00%
CVR Energy, Inc. and CVR Refining Holdings LLC [Member] | Second Underwritten Offering | CVR Refining, LP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by wholly-owned subsidiary								81.00%
CVR Energy, Inc. and CVR Refining Holdings LLC [Member] | Second Underwritten Offering | CVR Refining GP, LLC
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by limited partner								100.00%
CVR Partners, LP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of limited partner interest held by the public								66.00%
Coffeyville Resources LLC (CRLLC) | CVR Refining, LP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by wholly-owned subsidiary								34.00%
Coffeyville Resources LLC (CRLLC) | CVR Refining GP, LLC
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by limited partner								100.00%
IEP | CVR Refining, LP | Second Underwritten Offering
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of limited partner interest held by the public								3.90%
IEP | IEP Energy LLC
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Ownership percentage held by controlling stockholder			71.00%	82.00%
Subsequent Event
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Dividends declared (in dollars per share) | $ / shares		$ 0.75
Dividends declared		$ 75
Proceeds from distribution	$ 107
Subsequent Event | CVR Refining, LP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Distributions declared (in dollars per share) | $ / shares		$ 0.90
Distributions declared		$ 133
Subsequent Event | IEP | IEP Energy LLC
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Dividends declared	$ 54
Noncontrolling Interest
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Impact of CVRR units exchange, increase to additional paid-in capital, reduction of non-controlling interest, and recognition of deferred tax asset								$ 191
Dividends declared								$ 0
Exchange Offer, CVR Refining Common Units for CVR Energy Common Stock
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Number of shares tendered in exchange offer (in shares) | shares					13,699,549
Issuance costs incurred in connection with exchange offer					$ 0.7
Impact of CVRR units exchange, increase to additional paid-in capital, reduction of non-controlling interest, and recognition of deferred tax asset					$ 85
Exchange Offer, CVR Refining Common Units for CVR Energy Common Stock | CVR Refining, LP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Common stock exchanged in the exchange offer (in shares) | shares					21,625,106
Exchange Offer, CVR Refining Common Units for CVR Energy Common Stock | Additional Paid-in-Capital
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Impact of CVRR units exchange, increase to additional paid-in capital, reduction of non-controlling interest, and recognition of deferred tax asset					$ 276
Exchange Offer, CVR Refining Common Units for CVR Energy Common Stock | Noncontrolling Interest
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Impact of CVRR units exchange, increase to additional paid-in capital, reduction of non-controlling interest, and recognition of deferred tax asset					$ 191

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2019	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales	$ 1,935	$ 1,454	$ 5,386	$ 4,395
Cost of materials and other	1,561	$ 1,133	4,370	$ 3,582
Assets
Accounts Receivable	214		214				$ 179
Liabilities
Deferred Revenue	32		32
CVR Partners
Assets
Accounts Receivable						$ 31
Liabilities
Deferred Revenue	32		32			34	$ 34
ASU 2016-02 | Forecast | Minimum
Liabilities
Operating lease right of use asset estimate					$ 50
Lease liability estimate					50
ASU 2016-02 | Forecast | Maximum
Liabilities
Operating lease right of use asset estimate					100
Lease liability estimate					$ 100
Balances Without Adoption of ASC 606
Assets
Accounts Receivable	207		207
Liabilities
Deferred Revenue	25		25
Effect of Change | ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales	1		1
Cost of materials and other	1		1
Assets
Accounts Receivable	7		7			21
Liabilities
Deferred Revenue	$ 7		$ 7			$ 21

Revenue - Revenue Disaggregate

Revenue - Revenue Disaggregated by Major Product (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,935	$ 1,454	$ 5,386	$ 4,395
Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,922		5,307
Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	951		2,558
Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	840		2,324
Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	11		51
UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	53		157
Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	5		15
Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	15		41
Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	47		161
Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	12		75
Other revenue
Disaggregation of Revenue [Line Items]
Operating Leases, Income Statement, Lease Revenue	1		4
Operating Segments | Petroleum
Disaggregation of Revenue [Line Items]
Total revenue	1,857	1,386	5,139	4,148
Operating Segments | Petroleum | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,844		5,060
Operating Segments | Petroleum | Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	951		2,558
Operating Segments | Petroleum | Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	840		2,324
Operating Segments | Petroleum | Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments | Petroleum | UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments | Petroleum | Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments | Petroleum | Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	6		17
Operating Segments | Petroleum | Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	47		161
Operating Segments | Petroleum | Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	12		75
Operating Segments | Petroleum | Other revenue
Disaggregation of Revenue [Line Items]
Operating Leases, Income Statement, Lease Revenue	1		4
Operating Segments | Nitrogen Fertilizer
Disaggregation of Revenue [Line Items]
Total revenue	80	$ 69	253	$ 253
Operating Segments | Nitrogen Fertilizer | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	80		253
Operating Segments | Nitrogen Fertilizer | Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments | Nitrogen Fertilizer | Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments | Nitrogen Fertilizer | Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	11		51
Operating Segments | Nitrogen Fertilizer | UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	53		157
Operating Segments | Nitrogen Fertilizer | Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	5		15
Operating Segments | Nitrogen Fertilizer | Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	9		24
Operating Segments | Nitrogen Fertilizer | Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	2		6
Operating Segments | Nitrogen Fertilizer | Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments | Nitrogen Fertilizer | Other revenue
Disaggregation of Revenue [Line Items]
Operating Leases, Income Statement, Lease Revenue	0		0
Other / Eliminations
Disaggregation of Revenue [Line Items]
Total revenue	(2)		(6)
Other / Eliminations | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	(2)		(6)
Other / Eliminations | Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations | Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations | Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations | UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations | Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations | Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations | Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	(2)		(6)
Other / Eliminations | Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations | Other revenue
Disaggregation of Revenue [Line Items]
Operating Leases, Income Statement, Lease Revenue	$ 0		$ 0

Revenue - Additional informati

Revenue - Additional information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
CVR Partners
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 12
Petroleum | Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	2 days
Petroleum | Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	32 days
Nitrogen Fertilizer | Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	15 days
Nitrogen Fertilizer | Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	30 days

Revenue - Remaining Performanc

Revenue - Remaining Performance Obligation (Details) - CVR Partners	Sep. 30, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	51.00%
Remaining performance obligation, expected timing of satisfaction, period	1 year 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	25.00%
Remaining performance obligation, expected timing of satisfaction, period	1 year

Revenue - Deferred Revenue (De

Revenue - Deferred Revenue (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Less:
Balance at September 30, 2018	$ 32
CVR Partners
Change in Contract with Customer, Liability [Roll Forward]
Balance at January 1, 2018	34
Add:
New prepay contracts entered into during the period	36
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	34
Revenue recognized related to contracts entered into during the period	4
Balance at September 30, 2018	$ 32

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-Based Compensation
Total Share-Based Compensation Expense	$ 5	$ 3	$ 17	$ 11
Incentive Unit Awards
Share-Based Compensation
Total Share-Based Compensation Expense	2	1	4	3
CVR Energy LTIP | Performance Unit Award
Share-Based Compensation
Total Share-Based Compensation Expense	1	1	3	3
CVR Refining | CVR Refining LTIP | Phantom Units Award
Share-Based Compensation
Total Share-Based Compensation Expense	1	1	8	4
CVR Partners | CVR Partners LTIP | Phantom Units Award
Share-Based Compensation
Total Share-Based Compensation Expense	$ 1	$ 0	$ 2	$ 1

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials and precious metals	$ 139	$ 114
In-process inventories	19	22
Finished goods	195	172
Parts and supplies	74	77
Total Inventories	$ 427	$ 385

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Property, Plant, and Equipment
Total property, plant and equipment, gross	$ 4,026	$ 4,003
Less: Accumulated depreciation	1,585	1,431
Total property, plant and equipment, net	2,441	2,572
Assets Held for Sale
Property, Plant, and Equipment
Carrying value of assets held for sale	33
Land and improvements
Property, Plant, and Equipment
Total property, plant and equipment, gross	43	48
Buildings
Property, Plant, and Equipment
Total property, plant and equipment, gross	82	83
Machinery and equipment
Property, Plant, and Equipment
Total property, plant and equipment, gross	3,741	3,734
Other
Property, Plant, and Equipment
Total property, plant and equipment, gross	$ 160	$ 138

Long-Term Debt - Debt Balance,

Long-Term Debt - Debt Balance, Net of Current Maturities and Unamortized Issuance Costs (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 1,190	$ 1,192
Less:
Unamortized debt issuance cost and debt discount	(22)	(26)
Current portion of capital lease obligations	(2)	(2)
Long-term debt, net of current portion	1,166	1,164
Senior Notes | 6.50% Senior Notes due 2022
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 500	500
Less:
Stated interest rate	6.50%
Estimated fair value of total long-term debt outstanding	$ 508	515
Senior Notes | 9.25% Senior Secured Notes due 2023
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 645	645
Less:
Stated interest rate	9.25%
Estimated fair value of total long-term debt outstanding	$ 684	694
Senior Notes | 6.50% Senior Notes due 2021
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 2	2
Less:
Stated interest rate	6.50%
Capital Lease Obligations
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 43	$ 45

Long-Term Debt - Credit Facilit

Long-Term Debt - Credit Facilities Outstanding (Details) - Line of Credit - Revolving Credit Facility	9 Months Ended
	Sep. 30, 2018USD ($)
Amended and Restated Asset Based (ABL) Credit Facility
Line of Credit Facility [Line Items]
Total Capacity	$ 400,000,000
Amount Borrowed	0
Outstanding Letters of Credit	6,000,000
Available Capacity	$ 394,000,000
Amended and Restated Asset Based (ABL) Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Amended and Restated Asset Based (ABL) Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Asset Based (ABL) Credit Facility
Line of Credit Facility [Line Items]
Total Capacity	$ 50,000,000
Amount Borrowed	0
Outstanding Letters of Credit	0
Available Capacity	$ 50,000,000
Asset Based (ABL) Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Asset Based (ABL) Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Variable rate step-down	0.50%

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$ 13	$ 10
Cash paid for interest	55	56
Non-cash investing and financing activities:
Construction in progress additions included in accounts payable	10	8
Change in accounts payable related to construction in progress additions	2	9
Landlord incentives for leasehold improvements	$ 0	$ 1

Commitments and Contingencies -

Commitments and Contingencies - Crude Oil Supply Agreement (Details) - CRRM - New Vitol Agreement	Aug. 31, 2012
Loss Contingencies [Line Items]
Renewal term of agreement	1 year
Notice of nonrenewal period prior to expiration	180 days

Commitments and Contingencies_2

Commitments and Contingencies - Renewable Fuel Standards (Details) - EHS - CVR Refining - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Loss Contingencies [Line Items]
Cost of renewable identification numbers expense	$ 20	$ 64	$ 47	$ 164
Biofuel blending obligation recorded in other current liabilities	7		7		$ 28
RINs Asset	$ 4		$ 4

Commitments and Contingencies_3

Commitments and Contingencies - Affiliate Pension Obligations (Details) $ in Millions	Sep. 30, 2018sponsor	Jul. 31, 2018	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Loss Contingencies [Line Items]
Minimum ownership interest in CVR Energy by Mr. Icahn's affiliates	80.00%
Number of sponsors of pension plans | sponsor	2
IEP Energy LLC | Mr. Icahn's Affiliates
Loss Contingencies [Line Items]
Ownership percentage held by controlling stockholder	71.00%	82.00%
Affiliate Pension Obligations
Loss Contingencies [Line Items]
Underfunded pension obligation, if ACF and Federal-Mogul plans were voluntarily terminated | $			$ 435	$ 424

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair value measurements
Cash equivalents	$ 50	$ 15
Total Assets	50	15
Total Liabilities	(32)	(65)
Commodity derivatives
Fair value measurements
Other current liabilities (commodity derivatives)	(30)	(64)
Biofuels blending obligation
Fair value measurements
Other liabilities (biofuel blending obligation)	(2)	(1)
Level 1
Fair value measurements
Cash equivalents	50	15
Total Assets	50	15
Total Liabilities	0	0
Level 1 | Commodity derivatives
Fair value measurements
Other current liabilities (commodity derivatives)	0	0
Level 1 | Biofuels blending obligation
Fair value measurements
Other liabilities (biofuel blending obligation)	0	0
Level 2
Fair value measurements
Cash equivalents	0	0
Total Assets	0	0
Total Liabilities	(32)	(65)
Level 2 | Commodity derivatives
Fair value measurements
Other current liabilities (commodity derivatives)	(30)	(64)
Level 2 | Biofuels blending obligation
Fair value measurements
Other liabilities (biofuel blending obligation)	(2)	(1)
Level 3
Fair value measurements
Cash equivalents	0	0
Total Assets	0	0
Total Liabilities	0	0
Level 3 | Commodity derivatives
Fair value measurements
Other current liabilities (commodity derivatives)	0	0
Level 3 | Biofuels blending obligation
Fair value measurements
Other liabilities (biofuel blending obligation)	$ 0	$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) - CVR Refining - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Increase or decrease in related fair value of commodity instruments and forward purchase and sale commitments based on change of $1.00 per barrel in fair value of benchmark crude or product basis	$ 1
Commodity Swap
Derivative [Line Items]
Net unrealized loss on fair value of outstanding contracts	$ 30	$ 64

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Gains (Losses) on Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives, net	$ 5	$ (17)	$ 75	$ (5)
Forward purchases
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives, net	4	0	33	0
Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives, net	0	(17)	43	(5)
Futures
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives, net	$ 1	$ 0	$ (1)	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments - Open Commodity Derivative Instruments (Details) - bbl bbl in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
2-1-1 Crack spreads
Derivative [Line Items]
Number of barrels	0	7
Distillate Crack spreads
Derivative [Line Items]
Number of barrels	0	4
Gasoline Crack spreads
Derivative [Line Items]
Number of barrels	0	4
Canadian crude oil
Derivative [Line Items]
Number of barrels	2	6

Derivative Financial Instrume_6

Derivative Financial Instruments - Schedule of Offsetting Assets and Liabilities (Details) - CVR Refining - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Current Assets | Commodity Derivatives
Derivative Assets
Commodity Derivatives	$ 5,000,000	$ 7,000,000
Less: Counterparty Netting	(5,000,000)	(7,000,000)
Total Net Fair Value of Derivatives	0	0
Current Assets | Commodity Swap
Derivative Assets
Commodity Derivatives	0
Current Liabilities | Commodity Derivatives
Derivative Liabilities
Commodity Derivatives	35,000,000	71,000,000
Less: Counterparty Netting	(5,000,000)	(7,000,000)
Total Net Fair Value of Derivatives	$ 30,000,000	$ 64,000,000

Shareholders Equity (Details)

Shareholders Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Increase (Decrease) in Stockholders' Equity
Beginning balance			$ 1,704
Net income	$ 121	$ 25	304	$ 44
Additional paid-in capital impact of CVRR units exchange			85
Dividends to CVR Energy stockholders			(162)
Distributions to CVR Refining public unitholders			(67)
Other			(1)
Ending balance	1,863		1,863
Total CVR Stockholders’ Equity
Increase (Decrease) in Stockholders' Equity
Beginning balance			919
Net income			207
Additional paid-in capital impact of CVRR units exchange			276
Dividends to CVR Energy stockholders			(162)
Distributions to CVR Refining public unitholders			0
Other			(1)
Ending balance	1,239		1,239
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity
Beginning balance			785
Net income			97
Additional paid-in capital impact of CVRR units exchange			(191)
Dividends to CVR Energy stockholders			0
Distributions to CVR Refining public unitholders			(67)
Other			0
Ending balance	$ 624		$ 624

Related Party Transactions - S

Related Party Transactions - Summary of Dividends Paid (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			9 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Total amount paid	$ 75	$ 44	$ 43	$ 162	$ 130
Per common share (in dollars per share)	$ 0.75	$ 0.50	$ 0.50	$ 1.75
Shares outstanding (in shares)	100.6	86.8	86.8
Public Stockholders
Related Party Transaction [Line Items]
Total amount paid	$ 22	$ 8	$ 7	$ 37
IEP
Related Party Transaction [Line Items]
Total amount paid	$ 53	$ 36	$ 36	$ 125

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Distributions made	$ 75	$ 44	$ 43	$ 162	$ 130
Minimum ownership interest in CVR Energy for eligibility to file as member of AEPC consolidated federal income tax group				80.00%
Majority Shareholder
Related Party Transaction [Line Items]
Distributions made	$ 53	$ 36	$ 36	$ 125
CVR Refining | Majority Shareholder
Related Party Transaction [Line Items]
Distributions made				$ 10
AEPC | Majority Shareholder
Related Party Transaction [Line Items]
Minimum ownership interest in CVR Energy for eligibility to file as member of AEPC consolidated federal income tax group				80.00%

Related Party Transactions - Ex

Related Party Transactions - Expenses Incurred and Payments Made to Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Cost of materials and other	$ 1,561	$ 1,133	$ 4,370	$ 3,582
ARI Leasing, LLC | Railcar Lease Agreements and Maintenance
Related Party Transaction [Line Items]
Cost of materials and other	0	0	1	1
Insight Portfolio Group
Related Party Transaction [Line Items]
Payments made	0	0	0	0
American Entertainment Properties Corporation | Tax Allocation Agreement
Related Party Transaction [Line Items]
Payments made	$ 5	$ 0	$ 13	$ 10

Related Party Transactions - Pa

Related Party Transactions - Payables Due To/From Related Parties (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Tax Allocation Agreement | American Entertainment Properties Corporation (“AEPC”)
Related Party Transaction [Line Items]
Accounts Receivable (Payable)	$ 0	$ 5

Segments - Additional Informati

Segments - Additional Information (Details)	9 Months Ended
	Sep. 30, 2018segment
Segment Reporting [Abstract]
Number of operating segments	2

Segments - Summary of Operating

Segments - Summary of Operating Results and Capital Expenditures by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 1,935	$ 1,454	$ 5,386	$ 4,395
Operating Income	174	79	375	148
Interest expense, net	(26)	(28)	(79)	(81)
Loss on derivatives, net	5	(17)	75	(5)
Other income, net	3	0	6	0
Income before income tax expense	156	34	377	62
Depreciation and amortization	51	54	159	159
Capital expenditures	26	23	68	80
Total assets	4,002		4,002		$ 3,807
Operating Segments | Petroleum
Segment Reporting Information [Line Items]
Net sales	1,857	1,386	5,139	4,148
Operating Income	176	99	390	157
Depreciation and amortization	34	33	101	100
Capital expenditures	18	19	50	66
Total assets	2,505		2,505		2,270
Operating Segments | Nitrogen Fertilizer
Segment Reporting Information [Line Items]
Net sales	80	69	253	253
Operating Income	3	(16)	(1)	2
Depreciation and amortization	16	20	53	55
Capital expenditures	6	3	15	11
Total assets	1,219		1,219		1,234
Other
Segment Reporting Information [Line Items]
Net sales	(2)	(1)	(6)	(6)
Operating Income	(5)	(4)	(14)	(11)
Depreciation and amortization	1	1	5	4
Capital expenditures	2	$ 1	3	$ 3
Total assets	$ 278		$ 278		$ 303