CVR Energy (CVI) 10-Q 3 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-33492
Entity Registrant Name	CVR ENERGY, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1512186
Entity Address, Address Line One	2277 Plaza Drive, Suite 500
Entity Address, City or Town	Sugar Land
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77479
City Area Code	281
Local Phone Number	207-3200
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	CVI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100,530,599
Entity Central Index Key	0001376139
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents (including $43 and $31, respectively, of consolidated variable interest entities (“VIEs”))	$ 519	$ 667
Accounts receivable (including $35 and $37, respectively, of VIEs)	234	178
Inventories (including $50 and $42, respectively, of VIEs)	404	298
Prepaid expenses and other current assets (including $7 and $8, respectively, of VIEs)	43	259
Total current assets	1,200	1,402
Property, plant and equipment, net (including $868 and $898, respectively, of VIEs)	2,304	2,240
Other long-term assets (including $16 and $17, respectively, of VIEs)	294	336
Total assets	3,798	3,978
Current liabilities:
Accounts payable (including $30 and $25, respectively, of VIEs)	432	282
Other current liabilities (including $40 and $51, respectively, of VIEs)	680	377
Total current liabilities	1,112	659
Long-term debt and finance lease obligations, net of current portion (including $640 and $634, respectively, of VIEs)	1,687	1,683
Deferred income taxes	265	368
Other long-term liabilities (including $14 and $8, respectively, of VIEs)	64	49
Total long-term liabilities	2,016	2,100
Commitments and contingencies (See Note 12)
CVR Energy stockholders’ equity:
Common stock, $0.01 par value per share; 350,000,000 shares authorized; 100,629,209 and 100,629,209 shares issued as of June 30, 2021 and December 31, 2020, respectively	1	1
Additional paid-in-capital	1,510	1,510
Accumulated deficit	(1,026)	(490)
Treasury stock, 98,610 shares at cost	(2)	(2)
Total CVR stockholders’ equity	483	1,019
Noncontrolling interest	187	200
Total equity	670	1,219
Total liabilities and equity	$ 3,798	$ 3,978

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 519	$ 667
Accounts receivable	234	178
Inventories	404	298
Prepaid expenses and other current assets	43	259
Property, plant and equipment, net	2,304	2,240
Other long-term assets	294	336
Current liabilities:
Accounts payable	432	282
Other current liabilities	680	377
Long-term debt and finance lease obligations	1,687	1,683
Other long-term liabilities	$ 64	$ 49
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	100,629,209
Treasury stock (in shares)	98,610	98,610
Variable Interest Entities
Current assets:
Cash and cash equivalents	$ 43	$ 31
Accounts receivable	35	37
Inventories	50	42
Prepaid expenses and other current assets	7	8
Property, plant and equipment, net	868	898
Other long-term assets	16	17
Current liabilities:
Accounts payable	30	25
Other current liabilities	40	51
Long-term debt and finance lease obligations	640	634
Other long-term liabilities	$ 14	$ 8

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net sales	$ 1,783	$ 675	$ 3,246	$ 1,806
Operating costs and expenses:
Cost of materials and other	1,539	444	2,908	1,501
Direct operating expenses (exclusive of depreciation and amortization)	136	119	272	237
Depreciation and amortization	70	71	134	134
Cost of sales	1,745	634	3,314	1,872
Selling, general and administrative expenses (exclusive of depreciation and amortization)	28	22	55	47
Depreciation and amortization	2	3	4	4
Loss on asset disposal	2	1	2	2
Goodwill impairment	0	41	0	41
Operating income (loss)	6	(26)	(129)	(160)
Other (expense) income:
Interest expense, net	(38)	(31)	(69)	(67)
Investment income on marketable securities	21	21	83	52
Other income, net	3	(1)	10	0
Loss before income tax benefit	(8)	(37)	(105)	(175)
Income tax benefit	(6)	(5)	(48)	(42)
Net loss	(2)	(32)	(57)	(133)
Less: Net income (loss) attributable to noncontrolling interest	4	(27)	(12)	(41)
Net loss attributable to CVR Energy stockholders	$ (6)	$ (5)	$ (45)	$ (92)
Basic loss per share (in dollars per share)	$ (0.06)	$ (0.05)	$ (0.45)	$ (0.92)
Diluted loss per share (in dollars per share)	(0.06)	(0.05)	(0.45)	(0.92)
Dividends declared per share (in dollars per share)	$ 4.89	$ 0.40	$ 4.89	$ 1.20
Weighted-average common shares outstanding:
Basic (in shares)	100.5	100.5	100.5	100.5
Diluted (in shares)	100.5	100.5	100.5	100.5

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($) $ in Millions	Total	Total CVR Stockholders’ Equity	$0.01 Par Value Common Stock	Additional Paid-In Capital	Accumulated Deficit	Treasury Stock	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2019			100,629,209
Beginning balance at Dec. 31, 2019	$ 1,668	$ 1,393	$ 1	$ 1,507	$ (113)	$ (2)	$ 275
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(80)	(80)			(80)
Other	(1)	(1)			(1)
Net loss	(101)	(87)			(87)		(14)
Ending balance (in shares) at Mar. 31, 2020			100,629,209
Ending balance at Mar. 31, 2020	1,486	1,225	$ 1	1,507	(281)	(2)	261
Beginning balance (in shares) at Dec. 31, 2019			100,629,209
Beginning balance at Dec. 31, 2019	1,668	1,393	$ 1	1,507	(113)	(2)	275
Increase (Decrease) in Stockholders' Equity
Net loss	(133)
Ending balance (in shares) at Jun. 30, 2020			100,629,209
Ending balance at Jun. 30, 2020	1,413	1,180	$ 1	1,508	(327)	(2)	233
Beginning balance (in shares) at Dec. 31, 2019			100,629,209
Beginning balance at Dec. 31, 2019	1,668	1,393	$ 1	1,507	(113)	(2)	275
Increase (Decrease) in Stockholders' Equity
Changes in equity due to CVR Partners’ common unit repurchases				3			(4)
Ending balance (in shares) at Dec. 31, 2020			100,629,209
Ending balance at Dec. 31, 2020	1,219	1,019	$ 1	1,510	(490)	(2)	200
Beginning balance (in shares) at Mar. 31, 2020			100,629,209
Beginning balance at Mar. 31, 2020	1,486	1,225	$ 1	1,507	(281)	(2)	261
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(41)	(41)			(41)
Changes in equity due to CVR Partners’ common unit repurchases	0	1		1			(1)
Net loss	(32)	(5)			(5)		(27)
Ending balance (in shares) at Jun. 30, 2020			100,629,209
Ending balance at Jun. 30, 2020	1,413	1,180	$ 1	1,508	(327)	(2)	233
Beginning balance (in shares) at Dec. 31, 2020			100,629,209
Beginning balance at Dec. 31, 2020	1,219	1,019	$ 1	1,510	(490)	(2)	200
Increase (Decrease) in Stockholders' Equity
Changes in equity due to CVR Partners’ common unit repurchases	(1)						(1)
Other	1	1			1
Net loss	(55)	(39)			(39)		(16)
Ending balance (in shares) at Mar. 31, 2021			100,629,209
Ending balance at Mar. 31, 2021	1,164	981	$ 1	1,510	(528)	(2)	183
Beginning balance (in shares) at Dec. 31, 2020			100,629,209
Beginning balance at Dec. 31, 2020	1,219	1,019	$ 1	1,510	(490)	(2)	200
Increase (Decrease) in Stockholders' Equity
Changes in equity due to CVR Partners’ common unit repurchases				0			(0.1)
Net loss	(57)
Ending balance (in shares) at Jun. 30, 2021			100,629,209
Ending balance at Jun. 30, 2021	670	483	$ 1	1,510	(1,026)	(2)	187
Beginning balance (in shares) at Mar. 31, 2021			100,629,209
Beginning balance at Mar. 31, 2021	1,164	981	$ 1	1,510	(528)	(2)	183
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(492)	(492)			(492)
Net loss	(2)	(6)			(6)		4
Ending balance (in shares) at Jun. 30, 2021			100,629,209
Ending balance at Jun. 30, 2021	$ 670	$ 483	$ 1	$ 1,510	$ (1,026)	$ (2)	$ 187

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (57)	$ (133)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	138	138
Loss on lower of cost or net realizable value adjustment	0	58
Goodwill impairment	0	41
Gain on marketable securities	(83)	(48)
Deferred income taxes	(102)	11
Loss on asset disposal	2	2
Loss on extinguishment of debt	8	3
Share-based compensation	20	1
Other items	4	5
Changes in assets and liabilities:
Current assets and liabilities	308	(130)
Non-current assets and liabilities	5	3
Net cash provided by (used in) operating activities	243	(49)
Cash flows from investing activities:
Capital expenditures	(126)	(77)
Turnaround expenditures	(2)	(147)
Acquisition of pipeline assets	(20)	0
Proceeds from sale of assets	6	1
Investment in marketable securities	0	(140)
Other investing activities	1	2
Net cash used in investing activities	(141)	(361)
Cash flows from financing activities:
Proceeds from issuance of senior secured notes	550	1,000
Principal payments on senior secured notes	(552)	(500)
Call premium on extinguishment of debt	0	(5)
Repurchase of common units by CVR Partners	(1)	(1)
Dividends to CVR Energy’s stockholders	(241)	(121)
Other financing activities	(6)	(9)
Net cash (used in) provided by financing activities	(250)	364
Net decrease in cash and cash equivalents and restricted cash	(148)	(46)
Cash, cash equivalents and restricted cash, beginning of period	674	652
Cash, cash equivalents and restricted cash, end of period	$ 526	$ 606

Organization and Nature of Busi

Organization and Nature of Business	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	(1) Organization and Nature of Business 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 (the “Petroleum Segment” or “CVR Refining”) and CVR Partners, LP (the “Nitrogen Fertilizer Segment” or “CVR Partners”). CVR Refining is an independent petroleum refiner and marketer of high value transportation fuels. CVR Partners produces and markets nitrogen fertilizers in the form of urea ammonium nitrate (“UAN”) and ammonia. CVR’s common stock is listed on the New York Stock Exchange (the “NYSE”) under the symbol “CVI.” Icahn Enterprises L.P. and its affiliates (“IEP”) owned approximately 71% of the Company’s outstanding common stock as of June 30, 2021. CVR Partners, LP Interest Holders - As of June 30, 2021, public common unitholders held approximately 64% of CVR Partners’ outstanding common units and CVR Services, LLC (“CVR Services”) (formerly Coffeyville Resources, LLC), a wholly-owned subsidiary of CVR Energy, held approximately 36% of CVR Partners’ outstanding common units. In addition, CVR Services held 100% of CVR Partners’ general partner, CVR GP, LLC (“CVR GP”), which held a non-economic general partner interest in CVR Partners as of June 30, 2021. The noncontrolling interest reflected on the condensed consolidated balance sheets of CVR is only impacted by the net income of, and distributions from, CVR Partners. Unit Repurchase Program - On May 6, 2020, CVR Partners announced that the board of directors of its general partner (the “UAN GP Board”), on behalf of CVR Partners, authorized a unit repurchase program (the “Unit Repurchase Program”). The Unit Repurchase Program enables CVR Partners to repurchase up to $10 million of its common units. On February 22, 2021, the UAN GP Board authorized an additional $10 million for the Unit Repurchase Program. During the three months ended June 30, 2021, CVR Partners did not repurchase any common units. During the six months ended June 30, 2021, CVR Partners repurchased 24,378 common units on the open market in accordance with a repurchase agreement under Rules 10b5-1 and 10b-18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) at a cost of $0.5 million, inclusive of transaction costs, or an average price of $21.70 per common unit. During the three and six months ended June 30, 2020, as adjusted to reflect the impact of the 1-for-10 reverse unit split of the CVR Partners’ common units that was effective as of November 23, 2020, CVR Partners repurchased 89,022 common units at a cost of $1.0 million, inclusive of transaction costs, or an average price of $10.72 per common unit. As of June 30, 2021, CVR Partners had $12.4 million in authority remaining under the Unit Repurchase Program. This Unit Repurchase Program does not obligate CVR Partners to acquire any common units and may be cancelled or terminated by the UAN GP Board at any time. As a result of these repurchases, and the resulting change in CVR Energy’s ownership of CVR Partners while maintaining control, CVR Energy recognized a nominal increase to additional paid-in capital from the reduction of non-controlling interests totaling $0.1 million and the recognition of a deferred tax liability totaling $0.1 million from changes in its book versus tax basis in CVR Partners as of June 30, 2021. CVR Energy recognized an increase of $3 million to additional paid-in capital from the non-cash reduction of non-controlling interests totaling $4 million and the recognition of a deferred tax liability totaling $1 million from changes in its book versus tax basis in CVR Partners as of December 31, 2020.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	(2) 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 (“SEC”). These condensed consolidated financial statements should be read in conjunction with the December 31, 2020 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary for fair presentation of the financial position and results of operations of the Company for the periods presented. Such adjustments are of a normal recurring nature, unless otherwise disclosed. 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, 2021 or any other interim or annual period.

Recent Accounting Pronouncement

Recent Accounting Pronouncements and Accounting Changes	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements and Accounting Changes	(3) Recent Accounting Pronouncements and Accounting Changes Recent Accounting Pronouncements - Adoption of Income Tax Standard In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2019-12, Income Taxes (Topic 740). The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and modifies other areas of the topic to clarify the application of GAAP. Certain amendments within the standard are required to be applied on a retrospective basis and others on a prospective basis. Effective January 1, 2021, we adopted this ASU with no material impact on the Company’s consolidated financial position or results of operations. Recent Accounting Pronouncements - Adoption of Codification Improvements Standard In October 2020, the FASB issued ASU 2020-10, Codification Improvements. The ASU amends various sections of the codification in the FASB’s ongoing efforts to simplify and improve guidance. Effective January 1, 2021, we adopted this ASU with no material impact on the Company’s consolidated financial position or results of operations. Recent Accounting Pronouncements - New Accounting Standards Issued But Not Yet Implemented In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). This ASU was issued because, by the end of 2021, banks will no longer be required to report information that is used to determine London Interbank Offered Rate (“LIBOR”), which is used globally by all types of entities. As a result, LIBOR could be discontinued, as well as other interest rates used globally. ASU 2020-04 provides companies with optional expedients for contract modifications under Topics 310, 470, 842, and 815-15, excluded components of certain hedging relationships, fair value hedges, and cash flow hedges, as well as certain exceptions, which are intended to help ease the potential accounting burden associated with transitioning away from these reference rates. ASU 2021-01 clarifies certain optional expedients and exceptions for contract modifications and hedge accounting. Companies can apply the ASU immediately. However, the guidance will only be available for a limited time (generally through December 31, 2022). The Company is currently evaluating the impact that adopting this new accounting standard will have on its consolidated financial statements and related disclosures.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories	(4) Inventories Inventories consisted of the following: (in millions) June 30, 2021 December 31, 2020 Finished goods $ 175 $ 133 Raw materials 131 83 In-process inventories 27 16 Parts, supplies and other 71 66 Total inventories $ 404 $ 298

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	(5) Property, Plant and Equipment Property, plant and equipment consisted of the following: (in millions) June 30, 2021 December 31, 2020 Machinery and equipment $ 3,916 $ 3,881 Buildings and improvements 87 88 ROU finance leases 81 80 Land and improvements 48 47 Furniture and fixtures 37 38 Construction in progress 222 100 Other 14 15 4,405 4,249 Less: Accumulated depreciation and amortization 2,101 2,009 Total property, plant and equipment, net $ 2,304 $ 2,240 On February 1, 2021, the Company completed a pipeline acquisition for total consideration of $23 million, which is accounted for as a business combination under ASC 805. An intangible asset of $3 million was recognized in Other long-term assets related to acquired contracts that will be amortized in less than three years. The accounting for the business combination is preliminary, as the Company is finalizing working capital adjustments, and is expected to be finalized within 12 months of the acquisition date. As of June 30, 2021, the Company had not identified the existence of an impairment indicator for our long-lived asset groups as outlined under ASC 360.

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	(6) Leases Lease Overview We lease certain pipelines, storage tanks, railcars, office space, land, and equipment across our refining, fertilizer, and corporate operations. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one Balance Sheet Summary as of June 30, 2021 and December 31, 2020 The following tables summarize the right-of-use (“ROU”) asset and lease liability balances for the Company’s operating and finance leases at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (in millions) Operating Leases Finance Leases Operating Leases Finance Leases ROU assets, net Pipeline and storage $ 19 $ 25 $ 15 $ 26 Railcars 7 — 8 — Real estate and other 14 19 14 21 Lease liability Pipelines and storage $ 19 $ 37 $ 16 $ 38 Railcars 7 — 8 — Real estate and other 14 21 14 22 Lease Expense Summary for the Three and Six Months Ended June 30, 2021 and 2020 We recognize lease expense on a straight-line basis over the lease term and short-term lease expense within Direct operating expenses (exclusive of depreciation and amortization). For the three and six months ended June 30, 2021 and 2020, we recognized lease expense comprised of the following components: Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Operating lease expense $ 4 $ 5 $ 8 $ 9 Finance lease expense: Amortization of ROU asset $ 1 $ 1 $ 3 $ 3 Interest expense on lease liability 2 2 3 3 Short-term lease expense $ 2 $ 2 $ 3 $ 4 Lease Terms and Discount Rates The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and liabilities: June 30, 2021 December 31, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term 4.4 years 7.7 years 3.1 years 8.1 years Weighted-average discount rate 5.5 % 9.0 % 5.5 % 9.0 % Maturities of Lease Liabilities The following summarizes the remaining minimum lease payments through maturity of the Company’s lease liabilities at June 30, 2021: (in millions) Operating Leases Finance Leases Remainder of 2021 $ 7 $ 6 2022 13 11 2023 11 10 2024 7 10 2025 2 10 Thereafter 5 33 Total lease payments 45 80 Less: imputed interest (5) (22) Total lease liability $ 40 $ 58
Leases	(6) Leases Lease Overview We lease certain pipelines, storage tanks, railcars, office space, land, and equipment across our refining, fertilizer, and corporate operations. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one Balance Sheet Summary as of June 30, 2021 and December 31, 2020 The following tables summarize the right-of-use (“ROU”) asset and lease liability balances for the Company’s operating and finance leases at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (in millions) Operating Leases Finance Leases Operating Leases Finance Leases ROU assets, net Pipeline and storage $ 19 $ 25 $ 15 $ 26 Railcars 7 — 8 — Real estate and other 14 19 14 21 Lease liability Pipelines and storage $ 19 $ 37 $ 16 $ 38 Railcars 7 — 8 — Real estate and other 14 21 14 22 Lease Expense Summary for the Three and Six Months Ended June 30, 2021 and 2020 We recognize lease expense on a straight-line basis over the lease term and short-term lease expense within Direct operating expenses (exclusive of depreciation and amortization). For the three and six months ended June 30, 2021 and 2020, we recognized lease expense comprised of the following components: Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Operating lease expense $ 4 $ 5 $ 8 $ 9 Finance lease expense: Amortization of ROU asset $ 1 $ 1 $ 3 $ 3 Interest expense on lease liability 2 2 3 3 Short-term lease expense $ 2 $ 2 $ 3 $ 4 Lease Terms and Discount Rates The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and liabilities: June 30, 2021 December 31, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term 4.4 years 7.7 years 3.1 years 8.1 years Weighted-average discount rate 5.5 % 9.0 % 5.5 % 9.0 % Maturities of Lease Liabilities The following summarizes the remaining minimum lease payments through maturity of the Company’s lease liabilities at June 30, 2021: (in millions) Operating Leases Finance Leases Remainder of 2021 $ 7 $ 6 2022 13 11 2023 11 10 2024 7 10 2025 2 10 Thereafter 5 33 Total lease payments 45 80 Less: imputed interest (5) (22) Total lease liability $ 40 $ 58

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	(7) Other Current Liabilities Other current liabilities were as follows: (in millions) June 30, 2021 December 31, 2020 Accrued Renewable Fuel Standards (“RFS”) obligation $ 485 $ 214 Accrued taxes other than income taxes 41 32 Personnel accruals 31 23 Accrued derivatives 26 17 Accrued interest 23 25 Share-based compensation 16 4 Deferred revenue 15 31 Operating lease liabilities 12 14 Accrued income taxes 10 — Current portion of long-term debt and finance lease obligations 6 8 Other accrued expenses and liabilities 15 9 Total other current liabilities $ 680 $ 377

Long-Term Debt and Finance Leas

Long-Term Debt and Finance Lease Obligations	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt and Finance Lease Obligations	(8) Long-Term Debt and Finance Lease Obligations Long-term debt and finance lease obligations consist of the following: (in millions) June 30, 2021 December 31, 2020 CVR Partners: 9.25% Senior Secured Notes, due June 2023 (1) $ 95 $ 645 6.125% Senior Secured Notes, due June 2028 550 — Unamortized discount and debt issuance costs (5) (11) Total CVR Partners debt, net of current portion $ 640 $ 634 CVR Refining: Finance lease obligations, net of current portion (2) 52 55 Total CVR Refining debt, net of current portion $ 52 $ 55 CVR Energy: 5.25% Senior Notes, due February 2025 $ 600 $ 600 5.75% Senior Notes, due February 2028 400 400 Unamortized debt issuance costs (5) (6) Total CVR Energy debt 995 994 Total long-term debt and finance lease obligations, net of current portion $ 1,687 $ 1,683 Current portion of long-term debt and finance lease obligations (2)(3) 6 8 Total long-term debt and finance lease obligations, including current portion $ 1,693 $ 1,691 (1) The call price of the 9.25% Senior Secured Notes, due June 2023 (the “2023 UAN Notes”) decreased to par on June 15, 2021. On June 23, 2021, CVR Partners redeemed $550 million of the 2023 UAN Notes, at par, plus accrued and unpaid interest. The remaining balance of $95 million is outstanding as of June 30, 2021. (2) Current portion of finance lease obligations recognized was approximately $6 million as of June 30, 2021 and December 31, 2020. The current amounts are reported in Other current liabilities. (3) The $2 million outstanding balance of the 6.50% Notes, due April 2021, was paid in full on April 15, 2021. Credit Agreements (in millions) Total Available Borrowing Capacity Amount Borrowed as of June 30, 2021 Outstanding Letters of Credit Available Capacity as of June 30, 2021 Maturity Date CVR Partners: Asset Based (“Nitrogen Fertilizer ABL”) Credit Agreement (1) $ 32 $ — $ — $ 32 September 30, 2022 CVR Refining: Amended and Restated Asset Based (“Petroleum ABL”) Credit Agreement (2) $ 400 $ — $ 36 $ 364 November 14, 2022 (1) Beginning January 1, 2021, loans under the Nitrogen Fertilizer ABL bear interest at an annual rate equal to (i) (a) 2.00% plus LIBOR, to the extent available, or (b) 1.00% plus a base rate, if our quarterly excess availability is greater than 50%, and (ii) (a) 2.50% plus LIBOR, to the extent available, or (b) 1.50% plus a base rate, otherwise. (2) Loans under the Petroleum ABL bear interest at an annual rate equal to (i) (a) 1.50% plus LIBOR, to the extent available, or (b) 0.50% plus a base rate, if our quarterly excess availability is greater than 50%, and (ii) (a) 1.75% plus LIBOR, to the extent available, or (b) 0.75% plus a base rate, otherwise. 2028 UAN Notes - On June 23, 2021, CVR Partners and its subsidiary, CVR Nitrogen Finance Corporation (“Finance Co.” and, together with CVR Partners, the “Issuers”), completed a private offering of $550 million aggregate principal amount of 6.125% Senior Secured Notes due 2028 (the “2028 UAN Notes”). Interest on the 2028 UAN Notes is payable semi-annually in arrears on June 15 and December 15 each year, commencing on December 15, 2021. The 2028 UAN Notes mature on June 15, 2028, unless earlier redeemed or repurchased by the Issuers. The 2028 UAN Notes are jointly and severally guaranteed on a senior secured basis by all the existing domestic subsidiaries of CVR Partners, excluding Finance Co. In relation to the issuance of the 2028 UAN Notes, CVR Partners received $547 million of net cash proceeds, net of underwriting fees and other third-party fees and expenses associated with the offering. The debt issuance costs of the 2028 UAN Notes totaled approximately $3 million and are being amortized over the term of the 2028 UAN Notes as interest expense using the effective-interest amortization method. The Issuers may, at their option, at any time and from time to time prior to June 15, 2024, on any one or more occasions, redeem all or part of the 2028 UAN Notes, at a price equal to 100% of the principal amount plus a “make whole” premium, plus accrued and unpaid interest. On or after June 15, 2024, the Issuers may, on any one or more occasions, redeem all or part of the 2028 UAN Notes at the redemption prices set forth below, expressed as a percentage of the principal amount of the respective notes, plus accrued and unpaid interest to the applicable redemption date. 12-month period beginning June 15, Percentage 2024 103.063% 2025 101.531% 2026 and thereafter 100.000% The indenture governing the 2028 UAN Notes contains covenants that are substantially the same as the indenture governing the 2023 UAN Notes. However, the 2028 Notes contain a permitted investment activity carveout that allows for the transfer of certain carbon capture assets to a joint venture for the purpose of monetizing potential tax credits. 2023 UAN Notes - On June 23, 2021, CVR Partners redeemed $550 million aggregate principal amount of the outstanding 2023 UAN Notes at par and settled accrued interest of approximately $1 million through the date of redemption. As a result of the redemption, CVR Partners recognized in Interest expense, net an $8 million loss on extinguishment of debt in the second quarter of 2021, which includes the write-off of unamortized deferred financing costs and discount of $3 million and $5 million, respectively. Covenant Compliance The Company and its subsidiaries were in compliance with all covenants under their respective debt instruments as of June 30, 2021.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	(9) Revenue The following tables present the Company’s revenue, disaggregated by major product. The following tables also include a reconciliation of the disaggregated revenue with the Company’s reportable segments. Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 (in millions) Petroleum Nitrogen Fertilizer Other / Elimination Consolidated Petroleum Nitrogen Fertilizer Other / Elimination Consolidated Major Product Gasoline $ 908 $ — $ — $ 908 $ 1,657 $ — $ — $ 1,657 Distillates (1) 685 — — 685 1,273 — — 1,273 Ammonia — 32 — 32 — 42 — 42 UAN — 87 — 87 — 126 — 126 Other urea products — 7 — 7 — 11 — 11 Freight revenue 5 9 — 14 11 15 — 26 Other (2) 41 3 (3) 41 73 5 (5) 73 Revenue from product sales 1,639 138 (3) 1,774 3,014 199 (5) 3,208 Crude oil sales 8 — — 8 37 — — 37 Other revenue (2) 1 — — 1 1 — — 1 Net sales $ 1,648 $ 138 $ (3) $ 1,783 $ 3,052 $ 199 $ (5) $ 3,246 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 (in millions) Petroleum Nitrogen Fertilizer Other / Elimination Consolidated Petroleum Nitrogen Fertilizer Other / Elimination Consolidated Major Product Gasoline $ 300 $ — $ — $ 300 $ 816 $ — $ — $ 816 Distillates (1) 246 — — 246 720 — — 720 Ammonia — 37 — 37 — 51 — 51 UAN — 55 — 55 — 102 — 102 Other urea products — 4 — 4 — 7 — 7 Freight revenue 4 7 — 11 9 15 — 24 Other (2) 12 2 (2) 12 35 5 (3) 37 Revenue from product sales 562 105 (2) 665 1,580 180 (3) 1,757 Crude oil sales 10 — — 10 48 — — 48 Other revenue (2) — — — — 1 — — 1 Net sales $ 572 $ 105 $ (2) $ 675 $ 1,629 $ 180 $ (3) $ 1,806 (1) Distillates consist primarily of diesel fuel, kerosene, and jet fuel. (2) Other revenue consists primarily of feedstock, asphalt sales, and pipeline and processing fees. Transaction Price Allocated to Remaining Performance Obligations As of June 30, 2021, the Nitrogen Fertilizer Segment had approximately $6 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Nitrogen Fertilizer Segment expects to recognize approximately $3 million of these performance obligations as revenue by the end of 2021, an additional $2 million in 2022, and the remaining balance thereafter. Contract Balances The Nitrogen Fertilizer Segment’s deferred revenue is a contract liability that primarily relates to nitrogen fertilizer sales contracts requiring customer prepayment prior to product delivery to guarantee a price and supply of nitrogen fertilizer. A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the six months ended June 30, 2021 is presented below: (in millions) Balance at December 31, 2020 $ 31 Add: New prepay contracts entered into during the period (1) 30 Less: Revenue recognized that was included in the contract liability balance at the beginning of the period (30) Revenue recognized related to contracts entered into during the period (15) Balance at June 30, 2021 $ 16 (1) Includes $16 million where payment associated with prepaid contracts was collected as of June 30, 2021.

Derivative Financial Instrument

Derivative Financial Instruments, Investments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments, Investments and Fair Value Measurements	(10) Derivative Financial Instruments, Investments and Fair Value Measurements Derivative Financial Instruments The Petroleum Segment from time to time enters into various commodity derivative transactions to manage price risk on crude oil and other inventories and to fix margins on certain future production. On a regular basis, the Company enters into commodity contracts with counterparties for the purchases or sale of crude oil, blendstocks, various finished products, and RINs. The contracts usually qualify for the normal purchase normal sale exception and follow the accrual method of accounting. All other derivative instruments are recorded at fair value using mark-to-market accounting on a periodic basis utilizing third-party pricing. The Petroleum Segment holds derivative instruments, such as exchange-traded crude oil futures and 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 or upon settlement. The Petroleum Segment may enter into forward purchase or sale contracts associated with RINs. As of June 30, 2021, the Petroleum Segment had open fixed-price commitments to purchase 21 million RINs. Commodity derivatives include commodity swaps and forward purchase and sale commitments. There were 6 million outstanding commodity swap positions as of June 30, 2021. There were approximately 1 million forward purchase commitments and 1 million forward sale commitments as of June 30, 2021. The following outlines the gains (losses) recognized on the Company’s derivative activities, all of which are recorded in Cost of materials and other on the condensed consolidated statements of operations: Gain (loss) on Derivatives Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Forward purchases and sales contracts, net $ 4 $ 15 $ 22 $ 51 Commodity swap instruments (5) 4 (55) 4 Futures contracts (1) 1 (1) 10 Total (loss) gain on derivatives, net $ (2) $ 20 $ (34) $ 65 Offsetting Assets and Liabilities The Company elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. These amounts are recognized as current assets and current liabilities within the Prepaid expenses and other current assets and Other current liabilities financial statement line items, respectively, in the condensed consolidated balance sheets as follows: Derivative Assets Derivative Liabilities (in millions) June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Commodity derivatives $ 2 $ 1 $ (1) $ (5) Less: Counterparty netting (1) (1) 1 1 Total net fair value of derivatives $ 1 $ — $ — $ (4) Investments Investments consist of equity securities, which are reported at fair value in our condensed consolidated balance sheets. These investments are considered trading securities. Investment income on marketable securities consists of the following: Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Dividend income $ — $ 3 $ — $ 4 Gain on marketable securities 21 18 83 48 Investment income on marketable securities $ 21 $ 21 $ 83 $ 52 On June 10, 2021, the Company distributed its investment of 10,539,880 shares of common stock of Delek US Holdings, Inc. (“Delek”) in the form of a special dividend to its stockholders (the “Stock Distribution”). Following the Stock Distribution, the Company continues to hold $6 million in other marketable securities of Delek. See further discussion of the distribution in Note 15 (“Related Party Transactions”). 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) As of June 30, 2021 and December 31, 2020, the only financial assets and liabilities that are measured at fair value on a recurring basis are the Company’s investments, derivative instruments, long-term debt, and the RFS obligation. The estimated fair value of cash equivalents, including amounts invested in short-term money market funds, and restricted cash approximate their carrying amounts. The Petroleum Segment’s commodity derivative contracts and RFS 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 or liabilities between any of the above levels during the six months ended June 30, 2021. The following tables set forth the assets and liabilities measured or disclosed at fair value on a recurring basis, by input level, as of June 30, 2021 and December 31, 2020: June 30, 2021 (in millions) Level 1 Level 2 Level 3 Total Location and Description Prepaid expenses and other current assets (investments) $ 6 $ — $ — $ 6 Prepaid expenses and other current assets (commodity derivatives) — 4 — 4 Total Assets $ 6 $ 4 $ — $ 10 Other current liabilities (commodity swaps) $ — $ (26) $ — $ (26) Other current liabilities (RFS position) — (485) — (485) Long-term debt and finance lease obligations, net of current portion — (1,662) — (1,662) Total Liabilities $ — $ (2,173) $ — $ (2,173) December 31, 2020 (in millions) Level 1 Level 2 Level 3 Total Location and Description Prepaid expenses and other current assets (investments) $ 173 $ — $ — $ 173 Total Assets $ 173 $ — $ — $ 173 Current portion of long-term debt $ — $ (2) $ — $ (2) Other current liabilities (commodity derivatives) — (17) — (17) Other current liabilities (RFS position) — (214) — (214) Long-term debt and finance lease obligations, net of current portion — (1,604) — (1,604) Total Liabilities $ — $ (1,837) $ — $ (1,837)

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	(11) Share-Based Compensation A summary of compensation expense during the three and six months ended June 30, 2021 and 2020 is presented below: Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Performance Unit Awards $ — $ — $ (3) $ — CVR Partners LTIP - Phantom Unit Awards 7 — 12 — Incentive Unit Awards 5 2 11 1 Total Share-Based Compensation Expense $ 12 $ 2 $ 20 $ 1

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(12) Commitments and Contingencies Except as described below, there have been no material changes in the Company’s commitments and contingencies disclosed in the 2020 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. The Company continues to monitor its contractual arrangements and customer, vendor, and supplier relationships to determine whether and to what extent, if any, the impacts of the COVID-19 pandemic or ongoing crude oil or refined product price volatility will impair or excuse the performance of the Company or its subsidiaries or their customers, vendors, or suppliers under existing agreements. As of June 30, 2021, the Company had not experienced a material financial impact from any actual or threatened impairment of or excuse in its or others’ performance under such agreements. Crude Oil Supply Agreement On August 31, 2012, an indirect, wholly-owned subsidiary of CVR Refining entered into an Amended and Restated Crude Oil Supply Agreement (as amended, the “Crude Oil Supply Agreement”) with Vitol Inc. (“Vitol”). Under the Crude Oil Supply Agreement, Vitol supplies the Petroleum Segment with crude oil and intermediation logistics helping to reduce the amount of inventory held at certain locations and mitigate crude oil pricing risk. Volumes contracted under the Crude Oil Supply Agreement, as a percentage of the total crude oil purchases (in barrels), was approximately 42% and 38% for the three months ended June 30, 2021 and 2020, respectively, and 40% and 28% for the six months ended June 30, 2021 and 2020, respectively. The Crude Oil Supply Agreement, which currently extends through December 31, 2021, automatically renews for successive one-year terms (each such term, a “Renewal Term”) unless either party provides the other with notice of non-renewal at least 180 days prior to expiration of any Renewal Term. RFS The Petroleum Segment is subject to the RFS, implemented by primarily the Environmental Protection Agency (the “EPA”), which requires refiners to either blend renewable fuels in with their transportation fuels or purchase renewable fuel credits, known as RINs, in lieu of blending. The Petroleum Segment is not able to blend the substantial majority of its transportation fuels and has to purchase RINs on the open market, and may have to obtain waiver credits for cellulosic biofuels or other exemptions from the EPA, in order to comply with the RFS. For the three months ended June 30, 2021 and 2020, the Company recognized expense of approximately $173 million and $16 million, respectively, and for the six months ended June 30, 2021 and 2020, the Company recognized expense of approximately $351 million and $35 million, respectively, for the Petroleum Segment’s compliance with the RFS. The recognized amounts are included within Cost of materials and other in the Condensed Consolidated Statements of Operations and represent costs to comply with the RFS obligation through purchasing of RINs not otherwise reduced by blending of ethanol or biodiesel. At each reporting period, to the extent RINs purchased or generated through blending are less than the RFS obligation (excluding the impact of exemptions or waivers to which the Petroleum Segment may be entitled), the remaining position is marked-to-market using RIN market prices at period end. As of June 30, 2021 and December 31, 2020, the Petroleum Segment’s RFS position was approximately $485 million and $214 million, respectively, which is recorded in Other current liabilities in the Condensed Consolidated Balance Sheets. 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 RFS and Mr. Icahn’s former role as an advisor to the President of the United States. CVR Energy cooperated 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 believes it 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, Coffeyville Resources Refining & Marketing, LLC (“CRRM”) received a letter from the United States Department of Justice (“DOJ”) on behalf of the EPA and KDHE alleging violations of the CAA and a 2012 Consent Decree (the “CD”) between Coffeyville Resources Refining & Marketing, LLC (“CRRM”), the United States (on behalf of the EPA) and the Kansas Department of Health and Environment (“KDHE”) at CRRM’s Coffeyville refinery. In June 2020, a tolling agreement between the parties relating to such allegations expired, and the United States and KDHE sent demand letters relating to the allegations (the “Stipulated Claims”) and seeking stipulated penalties. In February 2021, the DOJ and KDHE sent CRRM a statement of position under the CD regarding its demand for Stipulated Claims. As CRRM disputes most claims asserted by the government, in accordance with the CD, CRRM deposited funds into a commercial escrow account pending resolution of disputed claims. The escrowed funds are legally restricted for use and are included within Prepaid expenses and other current assets on the condensed consolidated balance sheets. In December 2020, the DOJ and KDHE filed a supplement complaint in the United States District Court for the District of Kansas asserting nine counts for alleged violations of the Clean Air Act, the Kansas State Implementation Plan and Kansas law (“the Statutory Claims”) and seeking civil penalties, injunctive and related relief. CRRM has responded to numerous information requests and negotiations relating to the Stipulated Claims and the Statutory Claims are ongoing. As a result, the Company cannot determine at this time the outcome of these matters, including whether such outcome, or any subsequent enforcement or litigation relating thereto would have a material impact on the Company’s financial position, results of operations, or cash flows. On June 25, 2021, the Supreme Court of the United States (the “Supreme Court”) issued an opinion reversing the January 2020 decision of the U.S. Court of Appeals for the 10 th Circuit (the “10 th Circuit”) vacating three small refinery exemptions (“SREs”) under the RFS, including one issued to Wynnewood Refining Company, LLC’s (“WRC”) Wynnewood refinery for 2017, to the extent such SREs were vacated based on failure to have continuously received an SRE in all applicable preceding years. The EPA has indicated it is reconsidering WRC’s 2017 SRE. As it is not yet clear what action the EPA will take, we cannot currently estimate the outcome, impact, or timing of resolution of this matter. On July 26, 2021, trial commenced in the consolidated lawsuits filed by purported former unitholders of CVR Refining on behalf of themselves and an alleged class of similarly situated unitholders against the Company, CVR Refining and its general partner, CVR Refining Holdings, IEP, and certain directors and affiliates in the Court of Chancery of the State of Delaware related to the Company’s exercise of the call option under the CVR Refining Amended and Restated Agreement of Limited Partnership assigned to it by CVR Refining’s general partner (the “Delaware Lawsuits”). The trial for the Delaware Lawsuits, which primarily alleged breach of contract, tortious interference, and breach of the implied covenant of good faith and fair dealing, concluded on July 29, 2021. The Company believes the Delaware Lawsuits are without merit and has vigorously defended against them. As no ruling in the case has yet been issued, the Company cannot determine at this time the outcome of the Delaware Lawsuits, including whether the outcome would have a material impact on the Company’s financial position, results of operations, or cash flows. The lawsuit filed in the United States District Court for the Southern District of New York also related to the Company’s exercise of the call option was voluntarily dismissed.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Business Segments	(13) Business 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 (loss) and Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”). For the purposes of the operating segment disclosure, the Company presents operating income (loss) as it is the most comparable measure to the amounts presented on the condensed consolidated statements of operations. The other amounts reflect 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 Six Months Ended (in millions) 2021 2020 2021 2020 Net sales Petroleum $ 1,648 $ 572 $ 3,052 $ 1,629 Nitrogen Fertilizer 138 105 199 180 Other, including intersegment eliminations (3) (2) (5) (3) Total $ 1,783 $ 675 $ 3,246 $ 1,806 Operating (loss) income Petroleum $ (20) $ 5 $ (136) $ (122) Nitrogen Fertilizer 30 (26) 16 (31) Other, including intersegment eliminations (4) (5) (9) (7) Total 6 (26) (129) (160) Interest expense, net (38) (31) (69) (67) Investment income on marketable securities 21 21 83 52 Other income, net 3 (1) 10 — Loss before income tax benefit $ (8) $ (37) $ (105) $ (175) Depreciation and amortization Petroleum $ 51 $ 50 $ 102 $ 99 Nitrogen Fertilizer 21 24 35 39 Other — — 1 — Total $ 72 $ 74 $ 138 $ 138 Capital expenditures (1) Petroleum $ 9 $ 22 $ 19 $ 63 Nitrogen Fertilizer 4 3 7 8 Other (2) 70 1 125 2 Total $ 83 $ 26 $ 151 $ 73 The following table summarizes total assets by segment: (in millions) June 30, 2021 December 31, 2020 Petroleum $ 3,317 $ 2,991 Nitrogen Fertilizer 1,019 1,033 Other, including intersegment eliminations (538) (46) Total Assets $ 3,798 $ 3,978 (1) Capital expenditures are shown exclusive of capitalized turnaround expenditures and business combinations.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	(14) Supplemental Cash Flow Information Cash flows related to income taxes, interest, leases, and capital expenditures included in accounts payable were as follows: Six Months Ended (in millions) 2021 2020 Supplemental disclosures: Cash received for income taxes, net of payments $ — $ (4) Cash paid for interest 65 49 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 8 8 Operating cash flows from finance leases 3 3 Financing cash flows from finance leases 3 3 Non-cash investing and financing activities: Change in capital expenditures included in accounts payable (1) 25 (4) Non-cash dividends to CVR Energy stockholders 251 — (1) Capital expenditures are shown exclusive of capitalized turnaround expenditures. Cash, cash equivalents and restricted cash consisted of the following: (in millions) June 30, 2021 December 31, 2020 Cash and cash equivalents $ 519 $ 667 Restricted cash (2) 7 7 Cash, cash equivalents and restricted cash $ 526 $ 674 (2) The restricted cash balance is included within Prepaid expenses and other current assets on the condensed consolidated balance sheets.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	(15) Related Party Transactions Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2021 and 2020 is summarized below: Expenses from Related Parties Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Cost of materials and other Joint Venture Transportation Agreement: Enable $ 3 $ 3 $ 6 $ 6 Payments made Dividends (1) $ 348 $ 28 348 85 (1) See below for a summary of the dividends paid to IEP for the six months ended June 30, 2021 and year ended December 31, 2020. Dividends to CVR Energy Stockholders Dividends, if any, including the payment, amount and timing thereof, are subject to change at the discretion of CVR Energy’s board of directors (the “Board”). IEP, through its ownership of the Company’s common stock, is entitled to receive dividends that are declared and paid by the Company based on the number of shares held at each record date. There were no dividends declared or paid by the Company during the six months ended June 30, 2021 related to the first quarter of 2021 and fourth quarter of 2020. No dividends were declared for the second quarter of 2021. On May 26, 2021, the Company announced a special dividend of approximately $492 million, or equivalent to $4.89 per share of the Company’s common stock, to be paid in a combination of cash (the “Cash Distribution”) and the Stock Distribution. On June 10, 2021, the Company distributed an aggregate amount of approximately $241 million, or $2.40 per share of the Company’s common stock, pursuant to the Cash Distribution, and approximately 10,539,880 shares of Delek common stock, which represented approximately 14.3% of the outstanding shares of Delek common stock, pursuant to the Stock Distribution. IEP received approximately 7,464,652 shares of common stock of Delek and $171 million in cash. The Stock Distribution was recorded as a reduction to equity through a derecognition of our investment in Delek, and the Company recognized a gain of $112 million from the initial investment in Delek through the date of the Stock Distribution. The following table presents dividends paid to the Company’s stockholders, including IEP, during 2020 (amounts presented in tables below may not add to totals presented due to rounding). Dividends Paid (in millions) Related Period Date Paid Dividend Per Share Stockholders IEP Total 2019 - 4th Quarter March 9, 2020 $ 0.80 $ 23 $ 57 $ 80 2020 - 1st Quarter May 26, 2020 0.40 12 28 40 Total $ 1.20 $ 35 $ 85 $ 121 Distributions to CVR Partners’ Unitholders Distributions, if any, including the payment, amount and timing thereof, are subject to change at the discretion of the UAN GP Board. There were no distributions declared or paid by CVR Partners during the six months ended June 30, 2021 related to the first quarter of 2021 and fourth quarter of 2020, and no distributions were declared or paid during 2020. For the second quarter of 2021, CVR Partners, upon approval by the UAN GP Board on August 2, 2021, declared a distribution of $1.72 per common unit, or $18 million, which is payable August 23, 2021 to unitholders of record as of August 13, 2021. Of this amount, CVR Energy will receive approximately $7 million, with the remaining amount payable to public unitholders.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2021
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 (“SEC”). These condensed consolidated financial statements should be read in conjunction with the December 31, 2020 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary for fair presentation of the financial position and results of operations of the Company for the periods presented. Such adjustments are of a normal recurring nature, unless otherwise disclosed. 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, 2021 or any other interim or annual period.
Recent Accounting Pronouncements	Recent Accounting Pronouncements - Adoption of Income Tax Standard In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2019-12, Income Taxes (Topic 740). The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and modifies other areas of the topic to clarify the application of GAAP. Certain amendments within the standard are required to be applied on a retrospective basis and others on a prospective basis. Effective January 1, 2021, we adopted this ASU with no material impact on the Company’s consolidated financial position or results of operations. Recent Accounting Pronouncements - Adoption of Codification Improvements Standard In October 2020, the FASB issued ASU 2020-10, Codification Improvements. The ASU amends various sections of the codification in the FASB’s ongoing efforts to simplify and improve guidance. Effective January 1, 2021, we adopted this ASU with no material impact on the Company’s consolidated financial position or results of operations. Recent Accounting Pronouncements - New Accounting Standards Issued But Not Yet Implemented In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). This ASU was issued because, by the end of 2021, banks will no longer be required to report information that is used to determine London Interbank Offered Rate (“LIBOR”), which is used globally by all types of entities. As a result, LIBOR could be discontinued, as well as other interest rates used globally. ASU 2020-04 provides companies with optional expedients for contract modifications under Topics 310, 470, 842, and 815-15, excluded components of certain hedging relationships, fair value hedges, and cash flow hedges, as well as certain exceptions, which are intended to help ease the potential accounting burden associated with transitioning away from these reference rates. ASU 2021-01 clarifies certain optional expedients and exceptions for contract modifications and hedge accounting. Companies can apply the ASU immediately. However, the guidance will only be available for a limited time (generally through December 31, 2022). The Company is currently evaluating the impact that adopting this new accounting standard will have on its consolidated financial statements and related disclosures.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of components of inventories	Inventories consisted of the following: (in millions) June 30, 2021 December 31, 2020 Finished goods $ 175 $ 133 Raw materials 131 83 In-process inventories 27 16 Parts, supplies and other 71 66 Total inventories $ 404 $ 298

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Summary of property, plant and equipment	Property, plant and equipment consisted of the following: (in millions) June 30, 2021 December 31, 2020 Machinery and equipment $ 3,916 $ 3,881 Buildings and improvements 87 88 ROU finance leases 81 80 Land and improvements 48 47 Furniture and fixtures 37 38 Construction in progress 222 100 Other 14 15 4,405 4,249 Less: Accumulated depreciation and amortization 2,101 2,009 Total property, plant and equipment, net $ 2,304 $ 2,240

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Summary of right of use asset and lease liability balances for operating and finance leases	The following tables summarize the right-of-use (“ROU”) asset and lease liability balances for the Company’s operating and finance leases at June 30, 2021 and December 31, 2020: June 30, 2021 December 31, 2020 (in millions) Operating Leases Finance Leases Operating Leases Finance Leases ROU assets, net Pipeline and storage $ 19 $ 25 $ 15 $ 26 Railcars 7 — 8 — Real estate and other 14 19 14 21 Lease liability Pipelines and storage $ 19 $ 37 $ 16 $ 38 Railcars 7 — 8 — Real estate and other 14 21 14 22
Lease expense, lease terms, and discount rates	For the three and six months ended June 30, 2021 and 2020, we recognized lease expense comprised of the following components: Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Operating lease expense $ 4 $ 5 $ 8 $ 9 Finance lease expense: Amortization of ROU asset $ 1 $ 1 $ 3 $ 3 Interest expense on lease liability 2 2 3 3 Short-term lease expense $ 2 $ 2 $ 3 $ 4 The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and liabilities: June 30, 2021 December 31, 2020 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term 4.4 years 7.7 years 3.1 years 8.1 years Weighted-average discount rate 5.5 % 9.0 % 5.5 % 9.0 %
Summary of remaining minimum lease payments for operating leases	The following summarizes the remaining minimum lease payments through maturity of the Company’s lease liabilities at June 30, 2021: (in millions) Operating Leases Finance Leases Remainder of 2021 $ 7 $ 6 2022 13 11 2023 11 10 2024 7 10 2025 2 10 Thereafter 5 33 Total lease payments 45 80 Less: imputed interest (5) (22) Total lease liability $ 40 $ 58
Summary of remaining minimum lease payments for finance leases	The following summarizes the remaining minimum lease payments through maturity of the Company’s lease liabilities at June 30, 2021: (in millions) Operating Leases Finance Leases Remainder of 2021 $ 7 $ 6 2022 13 11 2023 11 10 2024 7 10 2025 2 10 Thereafter 5 33 Total lease payments 45 80 Less: imputed interest (5) (22) Total lease liability $ 40 $ 58

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Other Liabilities Disclosure [Abstract]
Other current liabilities	Other current liabilities were as follows: (in millions) June 30, 2021 December 31, 2020 Accrued Renewable Fuel Standards (“RFS”) obligation $ 485 $ 214 Accrued taxes other than income taxes 41 32 Personnel accruals 31 23 Accrued derivatives 26 17 Accrued interest 23 25 Share-based compensation 16 4 Deferred revenue 15 31 Operating lease liabilities 12 14 Accrued income taxes 10 — Current portion of long-term debt and finance lease obligations 6 8 Other accrued expenses and liabilities 15 9 Total other current liabilities $ 680 $ 377

Long-Term Debt and Finance Le_2

Long-Term Debt and Finance Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt and finance lease obligations	Long-term debt and finance lease obligations consist of the following: (in millions) June 30, 2021 December 31, 2020 CVR Partners: 9.25% Senior Secured Notes, due June 2023 (1) $ 95 $ 645 6.125% Senior Secured Notes, due June 2028 550 — Unamortized discount and debt issuance costs (5) (11) Total CVR Partners debt, net of current portion $ 640 $ 634 CVR Refining: Finance lease obligations, net of current portion (2) 52 55 Total CVR Refining debt, net of current portion $ 52 $ 55 CVR Energy: 5.25% Senior Notes, due February 2025 $ 600 $ 600 5.75% Senior Notes, due February 2028 400 400 Unamortized debt issuance costs (5) (6) Total CVR Energy debt 995 994 Total long-term debt and finance lease obligations, net of current portion $ 1,687 $ 1,683 Current portion of long-term debt and finance lease obligations (2)(3) 6 8 Total long-term debt and finance lease obligations, including current portion $ 1,693 $ 1,691 (1) The call price of the 9.25% Senior Secured Notes, due June 2023 (the “2023 UAN Notes”) decreased to par on June 15, 2021. On June 23, 2021, CVR Partners redeemed $550 million of the 2023 UAN Notes, at par, plus accrued and unpaid interest. The remaining balance of $95 million is outstanding as of June 30, 2021. (2) Current portion of finance lease obligations recognized was approximately $6 million as of June 30, 2021 and December 31, 2020. The current amounts are reported in Other current liabilities. (3) The $2 million outstanding balance of the 6.50% Notes, due April 2021, was paid in full on April 15, 2021. Credit Agreements (in millions) Total Available Borrowing Capacity Amount Borrowed as of June 30, 2021 Outstanding Letters of Credit Available Capacity as of June 30, 2021 Maturity Date CVR Partners: Asset Based (“Nitrogen Fertilizer ABL”) Credit Agreement (1) $ 32 $ — $ — $ 32 September 30, 2022 CVR Refining: Amended and Restated Asset Based (“Petroleum ABL”) Credit Agreement (2) $ 400 $ — $ 36 $ 364 November 14, 2022 (1) Beginning January 1, 2021, loans under the Nitrogen Fertilizer ABL bear interest at an annual rate equal to (i) (a) 2.00% plus LIBOR, to the extent available, or (b) 1.00% plus a base rate, if our quarterly excess availability is greater than 50%, and (ii) (a) 2.50% plus LIBOR, to the extent available, or (b) 1.50% plus a base rate, otherwise. (2) Loans under the Petroleum ABL bear interest at an annual rate equal to (i) (a) 1.50% plus LIBOR, to the extent available, or (b) 0.50% plus a base rate, if our quarterly excess availability is greater than 50%, and (ii) (a) 1.75% plus LIBOR, to the extent available, or (b) 0.75% plus a base rate, otherwise.
Debt Instrument Redemption	On or after June 15, 2024, the Issuers may, on any one or more occasions, redeem all or part of the 2028 UAN Notes at the redemption prices set forth below, expressed as a percentage of the principal amount of the respective notes, plus accrued and unpaid interest to the applicable redemption date. 12-month period beginning June 15, Percentage 2024 103.063% 2025 101.531% 2026 and thereafter 100.000%

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
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 also include a reconciliation of the disaggregated revenue with the Company’s reportable segments. Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 (in millions) Petroleum Nitrogen Fertilizer Other / Elimination Consolidated Petroleum Nitrogen Fertilizer Other / Elimination Consolidated Major Product Gasoline $ 908 $ — $ — $ 908 $ 1,657 $ — $ — $ 1,657 Distillates (1) 685 — — 685 1,273 — — 1,273 Ammonia — 32 — 32 — 42 — 42 UAN — 87 — 87 — 126 — 126 Other urea products — 7 — 7 — 11 — 11 Freight revenue 5 9 — 14 11 15 — 26 Other (2) 41 3 (3) 41 73 5 (5) 73 Revenue from product sales 1,639 138 (3) 1,774 3,014 199 (5) 3,208 Crude oil sales 8 — — 8 37 — — 37 Other revenue (2) 1 — — 1 1 — — 1 Net sales $ 1,648 $ 138 $ (3) $ 1,783 $ 3,052 $ 199 $ (5) $ 3,246 Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 (in millions) Petroleum Nitrogen Fertilizer Other / Elimination Consolidated Petroleum Nitrogen Fertilizer Other / Elimination Consolidated Major Product Gasoline $ 300 $ — $ — $ 300 $ 816 $ — $ — $ 816 Distillates (1) 246 — — 246 720 — — 720 Ammonia — 37 — 37 — 51 — 51 UAN — 55 — 55 — 102 — 102 Other urea products — 4 — 4 — 7 — 7 Freight revenue 4 7 — 11 9 15 — 24 Other (2) 12 2 (2) 12 35 5 (3) 37 Revenue from product sales 562 105 (2) 665 1,580 180 (3) 1,757 Crude oil sales 10 — — 10 48 — — 48 Other revenue (2) — — — — 1 — — 1 Net sales $ 572 $ 105 $ (2) $ 675 $ 1,629 $ 180 $ (3) $ 1,806 (1) Distillates consist primarily of diesel fuel, kerosene, and jet fuel.
Summary of deferred revenue activity	A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the six months ended June 30, 2021 is presented below: (in millions) Balance at December 31, 2020 $ 31 Add: New prepay contracts entered into during the period (1) 30 Less: Revenue recognized that was included in the contract liability balance at the beginning of the period (30) Revenue recognized related to contracts entered into during the period (15) Balance at June 30, 2021 $ 16 (1) Includes $16 million where payment associated with prepaid contracts was collected as of June 30, 2021.

Derivative Financial Instrume_2

Derivative Financial Instruments, Investments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (loss) on derivatives	The following outlines the gains (losses) recognized on the Company’s derivative activities, all of which are recorded in Cost of materials and other on the condensed consolidated statements of operations: Gain (loss) on Derivatives Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Forward purchases and sales contracts, net $ 4 $ 15 $ 22 $ 51 Commodity swap instruments (5) 4 (55) 4 Futures contracts (1) 1 (1) 10 Total (loss) gain on derivatives, net $ (2) $ 20 $ (34) $ 65
Derivative offsetting assets	The Company elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. These amounts are recognized as current assets and current liabilities within the Prepaid expenses and other current assets and Other current liabilities financial statement line items, respectively, in the condensed consolidated balance sheets as follows: Derivative Assets Derivative Liabilities (in millions) June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Commodity derivatives $ 2 $ 1 $ (1) $ (5) Less: Counterparty netting (1) (1) 1 1 Total net fair value of derivatives $ 1 $ — $ — $ (4)
Derivative offsetting liabilities	The Company elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. These amounts are recognized as current assets and current liabilities within the Prepaid expenses and other current assets and Other current liabilities financial statement line items, respectively, in the condensed consolidated balance sheets as follows: Derivative Assets Derivative Liabilities (in millions) June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Commodity derivatives $ 2 $ 1 $ (1) $ (5) Less: Counterparty netting (1) (1) 1 1 Total net fair value of derivatives $ 1 $ — $ — $ (4)
Components of investment income on marketable securities	Investment income on marketable securities consists of the following: Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Dividend income $ — $ 3 $ — $ 4 Gain on marketable securities 21 18 83 48 Investment income on marketable securities $ 21 $ 21 $ 83 $ 52
Assets and liabilities measured at fair value on a recurring basis	The following tables set forth the assets and liabilities measured or disclosed at fair value on a recurring basis, by input level, as of June 30, 2021 and December 31, 2020: June 30, 2021 (in millions) Level 1 Level 2 Level 3 Total Location and Description Prepaid expenses and other current assets (investments) $ 6 $ — $ — $ 6 Prepaid expenses and other current assets (commodity derivatives) — 4 — 4 Total Assets $ 6 $ 4 $ — $ 10 Other current liabilities (commodity swaps) $ — $ (26) $ — $ (26) Other current liabilities (RFS position) — (485) — (485) Long-term debt and finance lease obligations, net of current portion — (1,662) — (1,662) Total Liabilities $ — $ (2,173) $ — $ (2,173) December 31, 2020 (in millions) Level 1 Level 2 Level 3 Total Location and Description Prepaid expenses and other current assets (investments) $ 173 $ — $ — $ 173 Total Assets $ 173 $ — $ — $ 173 Current portion of long-term debt $ — $ (2) $ — $ (2) Other current liabilities (commodity derivatives) — (17) — (17) Other current liabilities (RFS position) — (214) — (214) Long-term debt and finance lease obligations, net of current portion — (1,604) — (1,604) Total Liabilities $ — $ (1,837) $ — $ (1,837)

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of share-based compensation expense	A summary of compensation expense during the three and six months ended June 30, 2021 and 2020 is presented below: Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Performance Unit Awards $ — $ — $ (3) $ — CVR Partners LTIP - Phantom Unit Awards 7 — 12 — Incentive Unit Awards 5 2 11 1 Total Share-Based Compensation Expense $ 12 $ 2 $ 20 $ 1

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2021
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 Six Months Ended (in millions) 2021 2020 2021 2020 Net sales Petroleum $ 1,648 $ 572 $ 3,052 $ 1,629 Nitrogen Fertilizer 138 105 199 180 Other, including intersegment eliminations (3) (2) (5) (3) Total $ 1,783 $ 675 $ 3,246 $ 1,806 Operating (loss) income Petroleum $ (20) $ 5 $ (136) $ (122) Nitrogen Fertilizer 30 (26) 16 (31) Other, including intersegment eliminations (4) (5) (9) (7) Total 6 (26) (129) (160) Interest expense, net (38) (31) (69) (67) Investment income on marketable securities 21 21 83 52 Other income, net 3 (1) 10 — Loss before income tax benefit $ (8) $ (37) $ (105) $ (175) Depreciation and amortization Petroleum $ 51 $ 50 $ 102 $ 99 Nitrogen Fertilizer 21 24 35 39 Other — — 1 — Total $ 72 $ 74 $ 138 $ 138 Capital expenditures (1) Petroleum $ 9 $ 22 $ 19 $ 63 Nitrogen Fertilizer 4 3 7 8 Other (2) 70 1 125 2 Total $ 83 $ 26 $ 151 $ 73 The following table summarizes total assets by segment: (in millions) June 30, 2021 December 31, 2020 Petroleum $ 3,317 $ 2,991 Nitrogen Fertilizer 1,019 1,033 Other, including intersegment eliminations (538) (46) Total Assets $ 3,798 $ 3,978 (1) Capital expenditures are shown exclusive of capitalized turnaround expenditures and business combinations.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of cash flows related to income taxes, interest, leases, and capital expenditures included in accounts payable	Cash flows related to income taxes, interest, leases, and capital expenditures included in accounts payable were as follows: Six Months Ended (in millions) 2021 2020 Supplemental disclosures: Cash received for income taxes, net of payments $ — $ (4) Cash paid for interest 65 49 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 8 8 Operating cash flows from finance leases 3 3 Financing cash flows from finance leases 3 3 Non-cash investing and financing activities: Change in capital expenditures included in accounts payable (1) 25 (4) Non-cash dividends to CVR Energy stockholders 251 — (1) Capital expenditures are shown exclusive of capitalized turnaround expenditures.
Schedule of cash and cash equivalents	Cash, cash equivalents and restricted cash consisted of the following: (in millions) June 30, 2021 December 31, 2020 Cash and cash equivalents $ 519 $ 667 Restricted cash (2) 7 7 Cash, cash equivalents and restricted cash $ 526 $ 674 (2) The restricted cash balance is included within Prepaid expenses and other current assets on the condensed consolidated balance sheets.
Schedule of restricted cash	Cash, cash equivalents and restricted cash consisted of the following: (in millions) June 30, 2021 December 31, 2020 Cash and cash equivalents $ 519 $ 667 Restricted cash (2) 7 7 Cash, cash equivalents and restricted cash $ 526 $ 674 (2) The restricted cash balance is included within Prepaid expenses and other current assets on the condensed consolidated balance sheets.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Schedule of related party transactions	Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2021 and 2020 is summarized below: Expenses from Related Parties Three Months Ended Six Months Ended (in millions) 2021 2020 2021 2020 Cost of materials and other Joint Venture Transportation Agreement: Enable $ 3 $ 3 $ 6 $ 6 Payments made Dividends (1) $ 348 $ 28 348 85 (1) See below for a summary of the dividends paid to IEP for the six months ended June 30, 2021 and year ended December 31, 2020.
Summary of dividends paid	The following table presents dividends paid to the Company’s stockholders, including IEP, during 2020 (amounts presented in tables below may not add to totals presented due to rounding). Dividends Paid (in millions) Related Period Date Paid Dividend Per Share Stockholders IEP Total 2019 - 4th Quarter March 9, 2020 $ 0.80 $ 23 $ 57 $ 80 2020 - 1st Quarter May 26, 2020 0.40 12 28 40 Total $ 1.20 $ 35 $ 85 $ 121

Organization and Nature of Bu_2

Organization and Nature of Business (Details)	Nov. 23, 2020	Jun. 30, 2021USD ($)shares	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2020USD ($)	Feb. 22, 2021USD ($)	May 06, 2020USD ($)
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Changes in equity due to CVR Partners’ common unit repurchases			$ 1,000,000	$ 0
Recognition of deferred tax liability from change in book versus tax basis in CVR Partners		$ 100,000			$ 100,000		$ 1,000,000
Additional Paid-In Capital
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Changes in equity due to CVR Partners’ common unit repurchases				(1,000,000)	0		(3,000,000)
Noncontrolling Interest
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Changes in equity due to CVR Partners’ common unit repurchases			$ 1,000,000	$ 1,000,000	$ 100,000		$ 4,000,000
CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of interest held by the public					64.00%
Unit Repurchase Program, authorized amount								$ 10,000,000	$ 10,000,000
Common units repurchased on open market (in units) | shares		0		89,022	24,378	89,022
Cost, inclusive of transaction costs, of repurchase of outstanding common units				$ 1,000,000	$ 500,000	$ 1,000,000
Average price per common unit (in dollars per share) | $ / shares				$ 10.72	$ 21.70	$ 10.72
Reverse unit split, conversion ratio	0.1
Amount remaining under Unit Repurchase Program		$ 12,400,000			$ 12,400,000
CVR Services | CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by wholly-owned subsidiary					36.00%
CVR Services | CVR GP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by general partner					100.00%
Majority Shareholder
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Ownership percentage held by controlling stockholder					71.00%

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 175	$ 133
Raw materials	131	83
In-process inventories	27	16
Parts, supplies and other	71	66
Total inventories	$ 404	$ 298

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Property, Plant, and Equipment
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Total property, plant and equipment, net	Total property, plant and equipment, net
ROU finance leases	$ 81	$ 80
Property, plant and equipment, gross	4,405	4,249
Less: Accumulated depreciation and amortization	2,101	2,009
Total property, plant and equipment, net	2,304	2,240
Machinery and equipment
Property, Plant, and Equipment
Property, plant and equipment, gross	3,916	3,881
Buildings and improvements
Property, Plant, and Equipment
Property, plant and equipment, gross	87	88
Land and improvements
Property, Plant, and Equipment
Property, plant and equipment, gross	48	47
Furniture and fixtures
Property, Plant, and Equipment
Property, plant and equipment, gross	37	38
Construction in progress
Property, Plant, and Equipment
Property, plant and equipment, gross	222	100
Other
Property, Plant, and Equipment
Property, plant and equipment, gross	$ 14	$ 15

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	Feb. 01, 2021	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Total consideration for pipeline acquisition		$ 20	$ 0
Contract-Based Intangible Assets
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 3
Acquired finite-lived intangible assets, amortization period	3 years
Pipeline Acquisition
Business Acquisition [Line Items]
Total consideration for pipeline acquisition	$ 23

Leases - Additional Information

Leases - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	20 years

Leases - Balance Sheet Summary

Leases - Balance Sheet Summary (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Operating Leases
Lease liability	$ 40
Finance Leases
Lease liability	58
Pipeline and storage
Operating Leases
ROU assets, net	19	$ 15
Lease liability	19	16
Finance Leases
ROU assets, net	25	26
Lease liability	37	38
Railcars
Operating Leases
ROU assets, net	7	8
Lease liability	7	8
Finance Leases
ROU assets, net	0	0
Lease liability	0	0
Real estate and other
Operating Leases
ROU assets, net	14	14
Lease liability	14	14
Finance Leases
ROU assets, net	19	21
Lease liability	$ 21	$ 22

Leases - Lease Expense (Details

Leases - Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease expense	$ 4	$ 5	$ 8	$ 9
Finance lease expense:
Amortization of ROU asset	1	1	3	3
Interest expense on lease liability	2	2	3	3
Short-term lease expense	$ 2	$ 2	$ 3	$ 4

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Jun. 30, 2021	Dec. 31, 2020
Weighted-average remaining lease term
Operating Leases	4 years 4 months 24 days	3 years 1 month 6 days
Finance Leases	7 years 8 months 12 days	8 years 1 month 6 days
Weighted-average discount rate
Operating Leases	5.50%	5.50%
Finance Leases	9.00%	9.00%

Leases - Remaining Minimum Leas

Leases - Remaining Minimum Lease Payments (Details) $ in Millions	Jun. 30, 2021USD ($)
Operating Leases
Remainder of 2021	$ 7
2022	13
2023	11
2024	7
2025	2
Thereafter	5
Total lease payments	45
Less: imputed interest	(5)
Total lease liability	40
Finance Leases
Remainder of 2021	6
2022	11
2023	10
2024	10
2025	10
Thereafter	33
Total lease payments	80
Less: imputed interest	(22)
Total lease liability	$ 58

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Accrued Renewable Fuel Standards (“RFS”) obligation	$ 485	$ 214
Accrued taxes other than income taxes	41	32
Personnel accruals	31	23
Accrued derivatives	26	17
Accrued interest	23	25
Share-based compensation	16	4
Deferred revenue	$ 15	$ 31
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total other current liabilities	Total other current liabilities
Operating lease liabilities	$ 12	$ 14
Accrued income taxes	10	0
Current portion of long-term debt and finance lease obligations	6	8
Other accrued expenses and liabilities	15	9
Total other current liabilities	$ 680	$ 377

Long-Term Debt and Finance Le_3

Long-Term Debt and Finance Lease Obligations - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Jun. 23, 2021	Jun. 30, 2021	Jun. 30, 2020	Apr. 15, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]		Total long-term debt and finance lease obligations, net of current portion			Total long-term debt and finance lease obligations, net of current portion
Total long-term debt and finance lease obligations, net of current portion		$ 1,687			$ 1,683
Current portion of long-term debt and finance lease obligations		6			8
Total long-term debt and finance lease obligations, including current portion		1,693			1,691
Payment for redemption of debt		552	$ 500
CVR Energy
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs		5			6
Total debt, net of current portion		995			994
CVR Energy | Senior Notes | 5.25% Senior Notes, due February 2025
Debt Instrument [Line Items]
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount		$ 600			600
Stated interest rate		5.25%
CVR Energy | Senior Notes | 5.75% Senior Notes, due February 2028
Debt Instrument [Line Items]
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount		$ 400			400
Stated interest rate		5.75%
CVR Partners
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs		$ 5			11
Total debt, net of current portion		640			634
CVR Partners | Senior Notes | 9.25% Senior Secured Notes, due June 2023
Debt Instrument [Line Items]
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount		$ 95			645
Stated interest rate	9.25%	9.25%
Payment for redemption of debt	$ 550
CVR Partners | Senior Notes | 6.125% Senior Secured Notes, due June 2028
Debt Instrument [Line Items]
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount		$ 550
Stated interest rate	6.125%	6.125%
CVR Partners | Senior Notes | 6.50% Senior Notes due April 2021
Debt Instrument [Line Items]
Stated interest rate				6.50%
Outstanding balance classified as short-term debt				$ 2
CVR Refining
Debt Instrument [Line Items]
Finance lease obligations, net of current portion		$ 52			55
Total long-term debt and finance lease obligations, net of current portion		52			55
Current portion of finance lease obligations		$ 6			$ 6

Long-Term Debt and Finance Le_4

Long-Term Debt and Finance Lease Obligations - Credit Agreement (Details) - Line of Credit - Revolving Credit Facility $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
CVR Partners | Asset Based (Nitrogen Fertilizer ABL) Credit Agreement
Line of Credit Facility [Line Items]
Total Available Borrowing Capacity	$ 32
Amount Borrowed	0
Outstanding Letters of Credit	0
Available Capacity	$ 32
CVR Partners | Asset Based (Nitrogen Fertilizer ABL) Credit Agreement | LIBOR | Quarterly Excess Availability Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
CVR Partners | Asset Based (Nitrogen Fertilizer ABL) Credit Agreement | LIBOR | Quarterly Excess Availability Not Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.50%
CVR Partners | Asset Based (Nitrogen Fertilizer ABL) Credit Agreement | Base Rate | Quarterly Excess Availability Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
CVR Partners | Asset Based (Nitrogen Fertilizer ABL) Credit Agreement | Base Rate | Quarterly Excess Availability Not Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
CVR Refining | Amended and Restated Asset Based (Petroleum ABL) Credit Agreement
Line of Credit Facility [Line Items]
Total Available Borrowing Capacity	$ 400
Amount Borrowed	0
Outstanding Letters of Credit	36
Available Capacity	$ 364
CVR Refining | Amended and Restated Asset Based (Petroleum ABL) Credit Agreement | LIBOR | Quarterly Excess Availability Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
CVR Refining | Amended and Restated Asset Based (Petroleum ABL) Credit Agreement | LIBOR | Quarterly Excess Availability Not Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
CVR Refining | Amended and Restated Asset Based (Petroleum ABL) Credit Agreement | Base Rate | Quarterly Excess Availability Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
CVR Refining | Amended and Restated Asset Based (Petroleum ABL) Credit Agreement | Base Rate | Quarterly Excess Availability Not Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%

Long-Term Debt and Finance Le_5

Long-Term Debt and Finance Lease Obligations - Additional Information (Details) - USD ($)	Jun. 23, 2021	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Proceeds from issuance of senior secured notes			$ 550,000,000	$ 1,000,000,000
Payment for redemption of debt			552,000,000	500,000,000
Loss on extinguishment of debt			$ 8,000,000	$ 3,000,000
CVR Partners
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 8,000,000
6.125% Senior Secured Notes, due June 2028 | Prior to June 15, 2024
Debt Instrument [Line Items]
Redemption of notes, percentage of par value at which notes were repurchased			100.00%
6.125% Senior Secured Notes, due June 2028 | Senior Notes | CVR Partners
Debt Instrument [Line Items]
Aggregate principal amount of private offering	$ 550,000,000
Stated interest rate	6.125%	6.125%	6.125%
Proceeds from issuance of senior secured notes	$ 547,000,000
Debt issuance costs	$ 3,000,000
9.25% Senior Secured Notes, due June 2023 | Senior Notes | CVR Partners
Debt Instrument [Line Items]
Stated interest rate	9.25%	9.25%	9.25%
Payment for redemption of debt	$ 550,000,000
Accrued interest settled upon redemption	$ 1,000,000
Unamortized deferred financing costs		$ 3,000,000	$ 3,000,000
Unamortized discount		$ 5,000,000	$ 5,000,000

Long-Term Debt and Finance Le_6

Long-Term Debt and Finance Lease Obligations - Debt Instrument Redemption (Details) - 6.125% Senior Secured Notes, due June 2028	6 Months Ended
	Jun. 30, 2021
2024
Debt Instrument, Redemption [Line Items]
Redemption of notes, percentage of par value at which notes were repurchased	103.063%
2025
Debt Instrument, Redemption [Line Items]
Redemption of notes, percentage of par value at which notes were repurchased	101.531%
2026 and thereafter
Debt Instrument, Redemption [Line Items]
Redemption of notes, percentage of par value at which notes were repurchased	100.00%

Revenue - Revenue Disaggregated

Revenue - Revenue Disaggregated by Major Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 1,783	$ 675	$ 3,246	$ 1,806
Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,774	665	3,208	1,757
Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	908	300	1,657	816
Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	685	246	1,273	720
Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	32	37	42	51
UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	87	55	126	102
Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	7	4	11	7
Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	14	11	26	24
Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	41	12	73	37
Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	8	10	37	48
Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	1	0	1	1
Operating Segments | Petroleum
Disaggregation of Revenue [Line Items]
Net sales	1,648	572	3,052	1,629
Operating Segments | Petroleum | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,639	562	3,014	1,580
Operating Segments | Petroleum | Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	908	300	1,657	816
Operating Segments | Petroleum | Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	685	246	1,273	720
Operating Segments | Petroleum | Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Petroleum | UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Petroleum | Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Petroleum | Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	5	4	11	9
Operating Segments | Petroleum | Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	41	12	73	35
Operating Segments | Petroleum | Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	8	10	37	48
Operating Segments | Petroleum | Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	1	0	1	1
Operating Segments | Nitrogen Fertilizer
Disaggregation of Revenue [Line Items]
Net sales	138	105	199	180
Operating Segments | Nitrogen Fertilizer | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	138	105	199	180
Operating Segments | Nitrogen Fertilizer | Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Nitrogen Fertilizer | Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Nitrogen Fertilizer | Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	32	37	42	51
Operating Segments | Nitrogen Fertilizer | UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	87	55	126	102
Operating Segments | Nitrogen Fertilizer | Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	7	4	11	7
Operating Segments | Nitrogen Fertilizer | Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	9	7	15	15
Operating Segments | Nitrogen Fertilizer | Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	3	2	5	5
Operating Segments | Nitrogen Fertilizer | Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Nitrogen Fertilizer | Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	0	0	0	0
Other / Elimination
Disaggregation of Revenue [Line Items]
Net sales	(3)	(2)	(5)	(3)
Other / Elimination | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	(3)	(2)	(5)	(3)
Other / Elimination | Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Elimination | Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Elimination | Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Elimination | UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Elimination | Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Elimination | Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Elimination | Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	(3)	(2)	(5)	(3)
Other / Elimination | Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Elimination | Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	$ 0	$ 0	$ 0	$ 0

Revenue - Remaining Performance

Revenue - Remaining Performance Obligation (Details) - Nitrogen Fertilizer $ in Millions	Jun. 30, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 3
Remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1
Remaining performance obligation, expected timing of satisfaction, period

Revenue - Deferred Revenue (Det

Revenue - Deferred Revenue (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at beginning of period	$ 31
Less:
Balance at end of period	15
Prepaid contracts, payment collected	16
Nitrogen Fertilizer
Change in Contract with Customer, Liability [Roll Forward]
Balance at beginning of period	31
Add:
New prepay contracts entered into during the period	30
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	(30)
Revenue recognized related to contracts entered into during the period	(15)
Balance at end of period	$ 16

Derivative Financial Instrume_3

Derivative Financial Instruments, Investments and Fair Value Measurements - Additional Information (Details) derivative in Millions	Jun. 30, 2021derivative
Commodity Swap Postions
Derivative [Line Items]
Outstanding positions	6
Forward Contracts | Purchase Commitments
Derivative [Line Items]
Outstanding positions	1
Forward Contracts | Sale Commitments
Derivative [Line Items]
Outstanding positions	1
RINs | Purchase Commitments
Derivative [Line Items]
Outstanding positions	21

Derivative Financial Instrume_4

Derivative Financial Instruments, Investments and Fair Value Measurements - Schedule of Gain (Loss) on Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives, net	$ (2)	$ 20	$ (34)	$ 65
Forward purchases and sales contracts, net
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives, net	4	15	22	51
Commodity swap instruments
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives, net	(5)	4	(55)	4
Futures contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives, net	$ (1)	$ 1	$ (1)	$ 10

Derivative Financial Instrume_5

Derivative Financial Instruments, Investments and Fair Value Measurements - Schedule of Offsetting Assets and Liabilities (Details) - Commodity derivatives - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Derivative Assets
Commodity derivatives	$ 2	$ 1
Less: Counterparty netting	(1)	(1)
Total net fair value of derivatives	1	0
Current Liabilities
Derivative Liabilities
Commodity derivatives	(1)	(5)
Less: Counterparty netting	1	1
Total net fair value of derivatives	$ 0	$ (4)

Derivative Financial Instrume_6

Derivative Financial Instruments, Investments and Fair Value Measurements - Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Dividend income	$ 0	$ 3	$ 0	$ 4
Gain on marketable securities	21	18	83	48
Investment income on marketable securities	$ 21	$ 21	$ 83	$ 52

Derivative Financial Instrume_7

Derivative Financial Instruments, Investments and Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Fair value measurements
Prepaid expenses and other current assets (investments)	$ 6	$ 173
Total Assets	10	173
Current portion of long-term debt		(2)
Long-term debt and finance lease obligations, net of current portion	(1,662)	(1,604)
Total Liabilities	(2,173)	(1,837)
Commodity derivatives
Fair value measurements
Prepaid expenses and other current assets (commodity derivatives)	4
Other current liabilities (derivatives)		(17)
Commodity swaps
Fair value measurements
Other current liabilities (derivatives)	(26)
RFS obligation
Fair value measurements
Other current liabilities (RFS position)	(485)	(214)
Level 1
Fair value measurements
Prepaid expenses and other current assets (investments)	6	173
Total Assets	6	173
Current portion of long-term debt		0
Long-term debt and finance lease obligations, net of current portion	0	0
Total Liabilities	0	0
Level 1 | Commodity derivatives
Fair value measurements
Prepaid expenses and other current assets (commodity derivatives)	0
Other current liabilities (derivatives)		0
Level 1 | Commodity swaps
Fair value measurements
Other current liabilities (derivatives)	0
Level 1 | RFS obligation
Fair value measurements
Other current liabilities (RFS position)	0	0
Level 2
Fair value measurements
Prepaid expenses and other current assets (investments)	0	0
Total Assets	4	0
Current portion of long-term debt		(2)
Long-term debt and finance lease obligations, net of current portion	(1,662)	(1,604)
Total Liabilities	(2,173)	(1,837)
Level 2 | Commodity derivatives
Fair value measurements
Prepaid expenses and other current assets (commodity derivatives)	4
Other current liabilities (derivatives)		(17)
Level 2 | Commodity swaps
Fair value measurements
Other current liabilities (derivatives)	(26)
Level 2 | RFS obligation
Fair value measurements
Other current liabilities (RFS position)	(485)	(214)
Level 3
Fair value measurements
Prepaid expenses and other current assets (investments)	0	0
Total Assets	0	0
Current portion of long-term debt		0
Long-term debt and finance lease obligations, net of current portion	0	0
Total Liabilities	0	0
Level 3 | Commodity derivatives
Fair value measurements
Prepaid expenses and other current assets (commodity derivatives)	0
Other current liabilities (derivatives)		0
Level 3 | Commodity swaps
Fair value measurements
Other current liabilities (derivatives)	0
Level 3 | RFS obligation
Fair value measurements
Other current liabilities (RFS position)	$ 0	$ 0

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share-Based Compensation
Total Share-Based Compensation Expense	$ 12	$ 2	$ 20	$ 1
Performance Unit Awards
Share-Based Compensation
Total Share-Based Compensation Expense	0	0	(3)	0
Incentive Unit Awards
Share-Based Compensation
Total Share-Based Compensation Expense	5	2	11	1
CVR Partners | CVR Partners LTIP | Phantom Units Award
Share-Based Compensation
Total Share-Based Compensation Expense	$ 7	$ 0	$ 12	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Crude Oil Supply Agreement (Details) - Crude Oil Supply Agreement	Aug. 31, 2012	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Loss Contingencies [Line Items]
Renewal term of agreement	1 year
Notice of non-renewal period prior to expiration	180 days
Petroleum Segment | Contracted Volume | Supplier Concentration Risk
Loss Contingencies [Line Items]
Volume contracted under Crude Oil Supply Agreement as percentage of total crude oil purchases		42.00%	38.00%	40.00%	28.00%

Commitments and Contingencies_2

Commitments and Contingencies - RFS (Details) - Petroleum Segment - Environmental, Health, and Safety Matters - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Loss Contingencies [Line Items]
Expense for compliance with RFS	$ 173	$ 16	$ 351	$ 35
RFS obligation	$ 485		$ 485		$ 214

Commitments and Contingencies_3

Commitments and Contingencies - Litigation (Details)	Jun. 25, 2021claimant	Dec. 31, 2020count
CRRM | Environmental, Health, and Safety Matters | Clean Air Act Matter
Loss Contingencies [Line Items]
Number of counts asserted related to alleged violations | count		9
WRC and Others | Small Refinery Exemption
Loss Contingencies [Line Items]
Number of refineries whose SREs were vacated under RFS program under the CAA	3
WRC | Small Refinery Exemption
Loss Contingencies [Line Items]
Number of refineries whose SREs were vacated under RFS program under the CAA	1

Business Segments - Additional

Business Segments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segments - Summary of

Business Segments - Summary of Operating Results and Capital Expenditures by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 1,783	$ 675	$ 3,246	$ 1,806
Operating (loss) income	6	(26)	(129)	(160)
Interest expense, net	(38)	(31)	(69)	(67)
Investment income on marketable securities	21	21	83	52
Other income, net	3	(1)	10	0
Loss before income tax benefit	(8)	(37)	(105)	(175)
Depreciation and amortization	72	74	138	138
Capital expenditures	83	26	151	73
Total Assets	3,798		3,798		$ 3,978
Operating Segments | Petroleum
Segment Reporting Information [Line Items]
Net sales	1,648	572	3,052	1,629
Operating (loss) income	(20)	5	(136)	(122)
Depreciation and amortization	51	50	102	99
Capital expenditures	9	22	19	63
Total Assets	3,317		3,317		2,991
Operating Segments | Nitrogen Fertilizer
Segment Reporting Information [Line Items]
Net sales	138	105	199	180
Operating (loss) income	30	(26)	16	(31)
Depreciation and amortization	21	24	35	39
Capital expenditures	4	3	7	8
Total Assets	1,019		1,019		1,033
Other, including intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	(3)	(2)	(5)	(3)
Operating (loss) income	(4)	(5)	(9)	(7)
Depreciation and amortization	0	0	1	0
Capital expenditures	70	$ 1	125	$ 2
Total Assets	$ (538)		$ (538)		$ (46)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Supplemental disclosures:
Cash received for income taxes, net of payments	$ 0	$ (4)
Cash paid for interest	65	49
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	8	8
Operating cash flows from finance leases	3	3
Financing cash flows from finance leases	3	3
Non-cash investing and financing activities:
Change in capital expenditures included in accounts payable	25	(4)
Non-cash dividends to CVR Energy stockholders	$ 251	$ 0

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 519	$ 667
Restricted cash	7	7
Cash, cash equivalents and restricted cash	$ 526	$ 674	$ 606	$ 652

Related Party Transactions - Ex

Related Party Transactions - Expenses from Related Parties (Details) - USD ($) $ in Millions	May 26, 2020	Mar. 09, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Cost of materials and other			$ 1,539	$ 444	$ 2,908	$ 1,501
Dividends	$ 40	$ 80			241	121	$ 121
Enable | Joint Venture Transportation Agreement
Related Party Transaction [Line Items]
Cost of materials and other			3	3	6	6
IEP
Related Party Transaction [Line Items]
Dividends	$ 28	$ 57	$ 348	$ 28	$ 348	$ 85	$ 85

Related Party Transactions - Su

Related Party Transactions - Summary of Dividends (Details) $ / shares in Units, $ in Millions	Aug. 23, 2021USD ($)	Aug. 02, 2021USD ($)$ / shares	Jun. 10, 2021USD ($)$ / sharesshares	May 26, 2021USD ($)$ / shares	May 26, 2020USD ($)$ / shares	Mar. 09, 2020USD ($)$ / shares	Jun. 30, 2021USD ($)$ / shares	Jun. 30, 2020USD ($)$ / shares	Jun. 30, 2021USD ($)$ / shares	Jun. 30, 2020USD ($)$ / shares	Dec. 31, 2020USD ($)$ / shares
Related Party Transaction [Line Items]
Dividends declared related to quarterly results (in dollars per share) | $ / shares							$ 0		$ 0
Dividends paid related to quarterly results (in dollars per share) | $ / shares									$ 0
Dividends declared per share (in dollars per share) | $ / shares				$ 4.89
Dividends Paid					$ 40	$ 80			$ 241	$ 121	$ 121
Dividend per share (in dollars per share) | $ / shares					$ 0.40	$ 0.80	$ 4.89	$ 0.40	$ 4.89	$ 1.20	$ 1.20
Realized gain on investment			$ 112
IEP Energy LLC
Related Party Transaction [Line Items]
Proceeds from dividends received			171
CVR Partners
Related Party Transaction [Line Items]
Distributions declared (in dollars per share) | $ / shares									0
Distributions paid (in dollars per share) | $ / shares									$ 0		$ 0
CVR Partners | Subsequent Event
Related Party Transaction [Line Items]
Distributions declared (in dollars per share) | $ / shares		$ 1.72
Distributions declared		$ 18
CVR Energy | Forecast
Related Party Transaction [Line Items]
Proceeds from distribution	$ 7
Delek
Related Party Transaction [Line Items]
Special dividend				$ 492
Dividends Paid			$ 241
Dividend per share (in dollars per share) | $ / shares			$ 2.40
Dividends paid to CVR Energy stockholders (in shares) | shares			10,539,880
Outstanding shares of common stock, percent			0.143
Delek | IEP Energy LLC
Related Party Transaction [Line Items]
Common stock dividends, shares received (in shares) | shares			7,464,652
IEP
Related Party Transaction [Line Items]
Dividends Paid					$ 28	$ 57	$ 348	$ 28	$ 348	$ 85	$ 85
Stockholders
Related Party Transaction [Line Items]
Dividends Paid					$ 12	$ 23					$ 35