CVR Energy (CVI) 10-Q 1 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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	2023
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents (including $69 and $86, respectively, of consolidated variable interest entity (“VIE”))	$ 751	$ 510
Accounts receivable (including $34 and $90, respectively, of VIE)	300	358
Inventories (including $79 and $78, respectively, of VIE)	524	624
Prepaid expenses and other current assets (including $7 and $11, respectively, of VIE)	71	101
Total current assets	1,646	1,593
Property, plant and equipment, net (including $784 and $811, respectively, of VIE)	2,235	2,247
Other long-term assets (including $47 and $24, respectively, of VIE)	336	279
Total assets	4,217	4,119
Current liabilities:
Accounts payable (including $34 and $51, respectively, of VIE)	466	497
Other current liabilities (including $34 and $75, respectively, of VIE)	819	942
Total current liabilities	1,285	1,439
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion (including $547 and $547, respectively, of VIE)	1,584	1,585
Deferred income taxes	273	249
Other long-term liabilities (including $51 and $16, respectively, of VIE)	98	55
Total long-term liabilities	1,955	1,889
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, 2023 and December 31, 2022, respectively	1	1
Additional paid-in-capital	1,508	1,508
Accumulated deficit	(752)	(976)
Treasury stock, 98,610 shares at cost	(2)	(2)
Total CVR stockholders’ equity	755	531
Noncontrolling interest	222	260
Total equity	977	791
Total liabilities and equity	$ 4,217	$ 4,119

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 751	$ 510
Accounts receivable	300	358
Inventories	524	624
Prepaid expenses and other current assets	71	101
Property, plant and equipment, net	2,235	2,247
Other long-term assets	336	279
Current liabilities:
Accounts Payable, Current	466	497
Other current liabilities	819	942
Long-term liabilities:
Long-term debt and finance lease obligations	1,584	1,585
Other long-term liabilities	$ 98	$ 55
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, common shares (in shares)	98,610	98,610
Variable Interest Entities
Current assets:
Cash and cash equivalents	$ 69	$ 86
Accounts receivable	34	90
Inventories	79	78
Prepaid expenses and other current assets	7	11
Property, plant and equipment, net	784	811
Other long-term assets	47	24
Current liabilities:
Accounts Payable, Current	34	51
Other current liabilities	34	75
Long-term liabilities:
Long-term debt and finance lease obligations	547	547
Other long-term liabilities	$ 51	$ 16

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 2,236	$ 3,144	$ 4,523	$ 5,517
Operating costs and expenses:
Cost of materials and other	1,743	2,465	3,423	4,352
Direct operating expenses (exclusive of depreciation and amortization)	165	167	334	327
Depreciation and amortization	71	71	137	136
Cost of sales	1,979	2,703	3,894	4,815
Selling, general and administrative expenses (exclusive of depreciation and amortization)	32	37	71	75
Depreciation and amortization	1	2	4	4
Operating income	224	402	554	623
Other (expense) income:
Interest expense, net	(16)	(23)	(32)	(48)
Other income (expense), net	4	(74)	6	(84)
Income before income tax expense	212	305	528	491
Income tax expense	44	66	101	99
Net income	168	239	427	392
Less: Net income attributable to noncontrolling interest	38	74	102	134
Net income attributable to CVR Energy stockholders	$ 130	$ 165	$ 325	$ 258
Basic earnings per share (in dollars per share)	$ 1.29	$ 1.64	$ 3.23	$ 2.57
Diluted earnings per share (in dollars per share)	$ 1.29	$ 1.64	$ 3.23	$ 2.57
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 - 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, 2021			100,629,209
Beginning balance at Dec. 31, 2021	$ 770	$ 553	$ 1	$ 1,510	$ (956)	$ (2)	$ 217
Increase (Decrease) in Stockholders' Equity
Net income	153	94			94		59
Distributions from CVR Partners to its public unitholders	(36)						(36)
Changes in equity due to CVR Partners’ common unit repurchases	(11)	(2)		(2)			(9)
Other	0	(1)			(1)		1
Ending balance (in shares) at Mar. 31, 2022			100,629,209
Ending balance at Mar. 31, 2022	876	644	$ 1	1,508	(863)	(2)	232
Beginning balance (in shares) at Dec. 31, 2021			100,629,209
Beginning balance at Dec. 31, 2021	770	553	$ 1	1,510	(956)	(2)	217
Increase (Decrease) in Stockholders' Equity
Net income	392
Ending balance (in shares) at Jun. 30, 2022			100,629,209
Ending balance at Jun. 30, 2022	1,060	769	$ 1	1,508	(738)	(2)	291
Beginning balance (in shares) at Mar. 31, 2022			100,629,209
Beginning balance at Mar. 31, 2022	876	644	$ 1	1,508	(863)	(2)	232
Increase (Decrease) in Stockholders' Equity
Net income	239	165			165		74
Dividends paid to CVR Energy stockholders	(40)	(40)			(40)
Distributions from CVR Partners to its public unitholders	(15)						(15)
Ending balance (in shares) at Jun. 30, 2022			100,629,209
Ending balance at Jun. 30, 2022	1,060	769	$ 1	1,508	(738)	(2)	291
Beginning balance (in shares) at Dec. 31, 2022			100,629,209
Beginning balance at Dec. 31, 2022	791	531	$ 1	1,508	(976)	(2)	260
Increase (Decrease) in Stockholders' Equity
Net income	259	195			195		64
Dividends paid to CVR Energy stockholders	(50)	(50)			(50)
Distributions from CVR Partners to its public unitholders	(70)						(70)
Other	(1)	(1)			(1)
Ending balance (in shares) at Mar. 31, 2023			100,629,209
Ending balance at Mar. 31, 2023	929	675	$ 1	1,508	(832)	(2)	254
Beginning balance (in shares) at Dec. 31, 2022			100,629,209
Beginning balance at Dec. 31, 2022	791	531	$ 1	1,508	(976)	(2)	260
Increase (Decrease) in Stockholders' Equity
Net income	427
Ending balance (in shares) at Jun. 30, 2023			100,629,209
Ending balance at Jun. 30, 2023	977	755	$ 1	1,508	(752)	(2)	222
Beginning balance (in shares) at Mar. 31, 2023			100,629,209
Beginning balance at Mar. 31, 2023	929	675	$ 1	1,508	(832)	(2)	254
Increase (Decrease) in Stockholders' Equity
Net income	168	130			130		38
Dividends paid to CVR Energy stockholders	(50)	(50)			(50)
Distributions from CVR Partners to its public unitholders	(70)						(70)
Ending balance (in shares) at Jun. 30, 2023			100,629,209
Ending balance at Jun. 30, 2023	$ 977	$ 755	$ 1	$ 1,508	$ (752)	$ (2)	$ 222

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 427	$ 392
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	141	140
Deferred income taxes	28	(10)
Share-based compensation	15	36
Unrealized (gain) loss on derivatives, net	(13)	15
Other items	1	3
Changes in assets and liabilities:
Current assets and liabilities	21	135
Non-current assets and liabilities	(6)	1
Net cash provided by operating activities	614	712
Cash flows from investing activities:
Capital expenditures	(100)	(88)
Turnaround expenditures	(50)	(68)
Return of equity method investment	20	0
Net cash used in investing activities	(130)	(156)
Cash flows from financing activities:
Principal payments on senior secured notes	0	(65)
Repurchase of common units by CVR Partners	0	(12)
Dividends to CVR Energy’s stockholders	(101)	(40)
Distributions to CVR Partners’ noncontrolling interest holders	(140)	(51)
Other financing activities	(2)	(5)
Net cash used in financing activities	(243)	(173)
Net increase in cash, cash equivalents and restricted cash	241	383
Cash, cash equivalents and restricted cash, beginning of period	517	517
Cash, cash equivalents and restricted cash, end of period	$ 758	$ 900

Organization and Nature of Busi

Organization and Nature of Business	6 Months Ended
	Jun. 30, 2023
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 marketing industry (the “Petroleum Segment”) and the nitrogen fertilizer manufacturing industry through its interest in CVR Partners, LP, a publicly traded limited partnership (the “Nitrogen Fertilizer Segment” or “CVR Partners”). The Petroleum Segment refines and markets high value transportation fuels primarily in the form of gasoline and diesel fuels. CVR Partners produces and markets nitrogen fertilizers primarily in the form of urea ammonium nitrate (“UAN”) and ammonia. We also produce and market renewable diesel. CVR’s common stock is listed on the New York Stock Exchange 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, 2023. CVR Partners, LP Interest Holders - As of June 30, 2023, public common unitholders held approximately 63% of CVR Partners’ outstanding common units and CVR Services, LLC (“CVR Services”), a wholly-owned subsidiary of CVR Energy, held the remaining approximately 37% of CVR Partners’ outstanding common units. In addition, CVR Services held 100% of the interest in CVR Partners’ general partner, CVR GP, LLC (“CVR GP”), which held a non-economic general partner interest in CVR Partners as of June 30, 2023. 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, the board of directors of CVR Partners’ general partner (the “UAN GP Board”), on behalf of CVR Partners, authorized a unit repurchase program (the “Unit Repurchase Program”), which was increased on February 22, 2021. The Unit Repurchase Program, as increased, authorized CVR Partners to repurchase up to $20 million of the CVR Partners’ common units. During the three and six months ended June 30, 2023 and the three months ended June 30, 2022, CVR Partners did not repurchase any common units. During the six months ended June 30, 2022, CVR Partners repurchased 111,695 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, at a cost of $12 million, exclusive of transaction costs, or an average price of $110.98 per common unit. As of June 30, 2023, CVR Partners, considering all repurchases made since inception of the Unit Repurchase Program, had a nominal authorized amount remaining under the Unit Repurchase Program. This Unit Repurchase Program does not obligate CVR Partners to acquire any common units and may be cancelled, modified, 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 decrease of $2 million to additional paid-in capital from the reduction of noncontrolling interests totaling $3 million and the related reduction of a deferred tax liability totaling $1 million from changes in its book versus tax basis in CVR Partners as of December 31, 2022.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	(2) Basis of Presentation The accompanying condensed consolidated financial statements, 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”), include the accounts of the Company and its majority-owned direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Certain notes and other information have been condensed or omitted from the condensed consolidated financial statements. Therefore, these condensed consolidated financial statements should be read in conjunction with the December 31, 2022 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity (“VIE”). 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.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	(3) Inventories Inventories consisted of the following: (in millions) June 30, 2023 December 31, 2022 Finished goods $ 239 $ 297 Raw materials 171 206 In-process inventories 23 35 Parts, supplies and other 91 86 Total inventories $ 524 $ 624

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	(4) Property, Plant and Equipment Property, plant and equipment consisted of the following: (in millions) June 30, 2023 December 31, 2022 Machinery and equipment $ 4,249 $ 4,194 Buildings and improvements 87 86 ROU finance leases 81 79 Land and improvements 73 72 Furniture and fixtures 38 37 Construction in progress 188 143 Other 15 15 4,731 4,626 Less: Accumulated depreciation and amortization (2,496) (2,379) Total property, plant and equipment, net $ 2,235 $ 2,247 During the six months ended June 30, 2023, the Company did not identify the existence of an impairment indicator for our long-lived asset groups as outlined under the FASB ASC Topic 360, Property, Plant, and Equipment . Property, plant and equipment related depreciation and amortization expense was $55 million and $105 million for the three and six months ended June 30, 2023, respectively, and $56 million and $109 million for the three and six months ended June 30, 2022, respectively.

Equity Method Investments

Equity Method Investments	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	(5) Equity Method Investments In January 2023, CVR Partners and its subsidiary, Coffeyville Resources Nitrogen Fertilizer, LLC (“CRNF”), entered into a series of agreements with CapturePoint LLC, an unaffiliated Texas limited liability company, and certain unaffiliated third-party investors intended to qualify under the Internal Revenue Service (“IRS”) safe harbor described in Revenue Procedure 2020-12 for certain joint ventures that are eligible to claim certain tax credits available to joint ventures under Section 45Q of the Internal Revenue Code of 1986, as amended (“Section 45Q Credits”) and allow us to monetize Section 45Q Credits we expect to generate from January 6, 2023 until March 31, 2030 (the “45Q Transaction”). Among other items, the 45Q Transaction resulted in the creation of CVR-CapturePoint Parent LLC, which was accounted for by CVR Partners as an equity-method investment. In January 2023, we received an initial distribution, net of expenses, of approximately $18 million and could receive up to an additional $60 million in payments through March 31, 2030, if certain carbon oxide capture and sequestration milestones are met, subject to the terms of the applicable agreements. The foregoing description of the applicable agreements does not purport to be complete and is qualified in its entirety by the terms of the relevant agreements, which were filed with the Company’s quarterly report on Form 10-Q for the period ended March 31, 2023. We have the following investments which have applied the equity method of accounting and are presented within Other long-term assets on our condensed consolidated financial statements: • CVR-CapturePoint Parent, LLC (“CVRP JV”) - Through our subsidiaries, and in connection with the 45Q Transaction, we received 50% interest in CVRP JV in connection with a modification to a carbon oxide contract (“CO Contract”) with a customer. We applied the VIE model under FASB ASC Topic 810, Consolidation, to our variable interest in CVRP JV and determined that CVRP JV is a VIE. While we concluded we are not the primary beneficiary of CVRP JV, we do have significant influence over CVRP JV’s operating and financial policies and, therefore, applied the equity method of accounting for our investment in CVRP JV. We deferred the recognition of the noncash consideration received and expect to recognize such revenue as the performance obligation associated with the CO Contract is satisfied. Refer to Note 9 (“Revenue”) for further discussion. We have elected to record our share of the earnings or loss of CVRP JV one quarter in arrears. Distributions received from CVRP JV will reduce our equity method investment and will be recorded in the period in which they are received. • Enable South Central Pipeline, LLC (“Enable JV”) - Through our subsidiaries, we own a 40% interest in Enable JV, which operates a 12-inch 26-mile crude oil pipeline with a capacity of approximately 20,000 barrels per day that is connected to the Wynnewood Refinery. The remaining interest in Enable JV is owned by a subsidiary of Energy Transfer LP, which also serves as the operator of the pipeline owned by the Enable JV. • Midway Pipeline, LLC (“Midway JV”) - Through our subsidiaries, we own a 50% interest in Midway JV, which operates a 16-inch 99-mile crude oil pipeline with a capacity of approximately 131,000 barrels per day which connects the Coffeyville Refinery to the Cushing, Oklahoma oil hub. The remaining interest in Midway JV is owned by Plains Pipeline, L.P. (in millions) CVRP JV Enable JV Midway JV Total Balance at December 31, 2022 $ — $ 5 $ 71 $ 76 CVRP JV inception 46 — — 46 Cash distributions (1) (19) (1) (2) (22) Equity income — 1 2 3 Balance at March 31, 2023 27 5 71 103 Cash distributions (1) (1) (2) (4) Equity income — 1 2 3 Balance at June 30, 2023 $ 26 $ 5 $ 71 $ 102 (1) Of the CVRP JV amount, approximately $1 million related to incremental costs associated with obtaining the CO Contract were capitalized and included in Prepaid expenses and other current assets and Other long-term assets in our condensed consolidated financial statements.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
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 of our leases include one or more renewal options to extend the lease term, which can be exercised at our sole discretion. Certain leases also include options to purchase the leased property. Certain of our lease agreements include rental payments which are adjusted periodically for factors such as inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Additionally, we do not have any material lessor or sub-leasing arrangements. Balance Sheet Summary as of June 30, 2023 and December 31, 2022 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, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 (in millions) Operating Leases Finance Leases Operating Leases Finance Leases ROU assets, net Pipeline and storage $ 14 $ 19 $ 16 $ 20 Railcars 10 — 11 — Real estate and other 16 15 13 15 Lease liability Pipelines and storage 14 30 16 32 Railcars 9 — 11 — Real estate and other 15 17 13 16 Lease Expense Summary for the Three and Six Months Ended June 30, 2023 and 2022 We recognize operating lease expense on a straight-line basis over the lease term within Direct operating expenses (exclusive of depreciation and amortization) and Cost of materials and other and finance lease expense on a straight-line basis over the lease term within Depreciation and amortization. For the three and six months ended June 30, 2023 and 2022, we recognized lease expense comprised of the following components: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Operating lease expense $ 5 $ 4 $ 9 $ 8 Finance lease expense: Amortization of ROU asset 2 1 3 3 Interest expense on lease liability 1 1 2 2 Short-term lease expense 2 2 5 5 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 lease liabilities: June 30, 2023 December 31, 2022 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term 3.9 years 5.8 years 4.1 years 6.3 years Weighted-average discount rate 5.5 % 9.0 % 5.2 % 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, 2023: (in millions) Operating Leases Finance Leases Remainder of 2023 $ 10 $ 6 2024 14 11 2025 8 11 2026 6 11 2027 3 10 Thereafter 3 13 Total lease payments 44 62 Less: imputed interest (6) (15) Total lease liability $ 38 $ 47 The Company has entered into lease commitments that have not yet commenced, as follows: • On February 21, 2022, CRNF entered into the First Amendment to the On-Site Product Supply Agreement with Messer LLC (“Messer”), which amended the July 31, 2020 On-Site Product Supply Agreement (as amended, the “Messer Agreement”). Under the Messer Agreement, among other obligations, Messer is obligated to supply oxygen and make certain capital improvements during the term of the Messer Agreement, and CRNF is obligated to take as available and pay for oxygen from Messer’s facility. This arrangement for CRNF’s purchase of oxygen from Messer does not meet the definition of a lease under FASB ASC Topic 842, Leases (“Topic 842”), as CRNF does not expect to receive substantially all of the output, which includes oxygen, nitrogen, and compressed air, of Messer’s on-site production from its air separation unit over the life of the Messer Agreement. The Messer Agreement also obligates Messer to install a new oxygen storage vessel, related equipment and infrastructure (“Oxygen Storage Vessel” or “Vessel”) to be used solely by the Coffeyville Fertilizer Facility. The arrangement for the use of the Oxygen Storage Vessel meets the definition of a lease under Topic 842, as CRNF will receive all output associated with the Vessel. Based on terms outlined in the Messer Agreement, the Company expects the lease of the Oxygen Storage Vessel to be classified as a financing lease with an estimated amount within the range of $20 million to $25 million being capitalized upon lease commencement when the Vessel is placed in service, which is currently expected to occur within the next 12 months.
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 of our leases include one or more renewal options to extend the lease term, which can be exercised at our sole discretion. Certain leases also include options to purchase the leased property. Certain of our lease agreements include rental payments which are adjusted periodically for factors such as inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Additionally, we do not have any material lessor or sub-leasing arrangements. Balance Sheet Summary as of June 30, 2023 and December 31, 2022 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, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 (in millions) Operating Leases Finance Leases Operating Leases Finance Leases ROU assets, net Pipeline and storage $ 14 $ 19 $ 16 $ 20 Railcars 10 — 11 — Real estate and other 16 15 13 15 Lease liability Pipelines and storage 14 30 16 32 Railcars 9 — 11 — Real estate and other 15 17 13 16 Lease Expense Summary for the Three and Six Months Ended June 30, 2023 and 2022 We recognize operating lease expense on a straight-line basis over the lease term within Direct operating expenses (exclusive of depreciation and amortization) and Cost of materials and other and finance lease expense on a straight-line basis over the lease term within Depreciation and amortization. For the three and six months ended June 30, 2023 and 2022, we recognized lease expense comprised of the following components: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Operating lease expense $ 5 $ 4 $ 9 $ 8 Finance lease expense: Amortization of ROU asset 2 1 3 3 Interest expense on lease liability 1 1 2 2 Short-term lease expense 2 2 5 5 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 lease liabilities: June 30, 2023 December 31, 2022 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term 3.9 years 5.8 years 4.1 years 6.3 years Weighted-average discount rate 5.5 % 9.0 % 5.2 % 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, 2023: (in millions) Operating Leases Finance Leases Remainder of 2023 $ 10 $ 6 2024 14 11 2025 8 11 2026 6 11 2027 3 10 Thereafter 3 13 Total lease payments 44 62 Less: imputed interest (6) (15) Total lease liability $ 38 $ 47 The Company has entered into lease commitments that have not yet commenced, as follows: • On February 21, 2022, CRNF entered into the First Amendment to the On-Site Product Supply Agreement with Messer LLC (“Messer”), which amended the July 31, 2020 On-Site Product Supply Agreement (as amended, the “Messer Agreement”). Under the Messer Agreement, among other obligations, Messer is obligated to supply oxygen and make certain capital improvements during the term of the Messer Agreement, and CRNF is obligated to take as available and pay for oxygen from Messer’s facility. This arrangement for CRNF’s purchase of oxygen from Messer does not meet the definition of a lease under FASB ASC Topic 842, Leases (“Topic 842”), as CRNF does not expect to receive substantially all of the output, which includes oxygen, nitrogen, and compressed air, of Messer’s on-site production from its air separation unit over the life of the Messer Agreement. The Messer Agreement also obligates Messer to install a new oxygen storage vessel, related equipment and infrastructure (“Oxygen Storage Vessel” or “Vessel”) to be used solely by the Coffeyville Fertilizer Facility. The arrangement for the use of the Oxygen Storage Vessel meets the definition of a lease under Topic 842, as CRNF will receive all output associated with the Vessel. Based on terms outlined in the Messer Agreement, the Company expects the lease of the Oxygen Storage Vessel to be classified as a financing lease with an estimated amount within the range of $20 million to $25 million being capitalized upon lease commencement when the Vessel is placed in service, which is currently expected to occur within the next 12 months.

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	(7) Other Current Liabilities Other current liabilities were as follows: (in millions) June 30, 2023 December 31, 2022 Accrued Renewable Fuel Standards (“RFS”) obligation $ 599 $ 692 Accrued taxes other than income taxes 50 51 Share-based compensation 41 31 Personnel accruals 32 47 Accrued interest 24 24 Operating lease liabilities 14 15 Accrued income taxes 12 — Deferred revenue 7 48 Current portion of finance lease obligations 7 6 Derivatives 5 4 Other accrued expenses and liabilities 28 24 Total other current liabilities $ 819 $ 942

Long-Term Debt and Finance Leas

Long-Term Debt and Finance Lease Obligations	6 Months Ended
	Jun. 30, 2023
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 consisted of the following: (in millions) June 30, 2023 December 31, 2022 CVR Partners: 6.125% Senior Secured Notes, due June 2028 $ 550 $ 550 Unamortized discount and debt issuance costs (3) (3) Total CVR Partners debt 547 547 CVR Refining, LP (“CVR Refining”): Finance lease obligations, net of current portion 40 42 Total CVR Refining finance lease obligations, net of current portion 40 42 CVR Energy: 5.25% Senior Notes, due February 2025 600 600 5.75% Senior Notes, due February 2028 400 400 Unamortized debt issuance costs (3) (4) Total CVR Energy debt 997 996 Total long-term debt and finance lease obligations, net of current portion 1,584 1,585 Current portion of finance lease obligations 7 6 Total long-term debt and finance lease obligations, including current portion $ 1,591 $ 1,591 Credit Agreements (in millions) Total Available Borrowing Capacity Amount Borrowed as of June 30, 2023 Outstanding Letters of Credit Available Capacity as of June 30, 2023 Maturity Date CVR Partners: Asset Based (“Nitrogen Fertilizer ABL”) Credit Agreement $ 35 $ — $ — $ 35 September 30, 2024 CVR Refining: Amended and Restated Asset Based (“Petroleum ABL”) Credit Agreement $ 275 $ — $ 20 $ 255 June 30, 2027 Covenant Compliance The Company and its subsidiaries were in compliance with all covenants under their respective debt instruments as of June 30, 2023.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	(9) Revenue The following tables present the Company’s revenue disaggregated by major product, which include a reconciliation of the disaggregated revenue by the Company’s reportable segments: Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 (in millions) Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Gasoline $ 1,092 $ — $ — $ 1,092 $ 2,102 $ — $ — $ 2,102 Distillates (2) 830 — 35 865 1,749 — 83 1,832 Ammonia — 56 — 56 — 94 — 94 UAN — 104 — 104 — 268 — 268 Other urea products — 7 — 7 — 15 — 15 Freight revenue (3) 5 11 — 16 8 22 — 30 Other (4) 48 5 18 71 81 10 38 129 Revenue from product sales 1,975 183 53 2,211 3,940 409 121 4,470 Crude oil sales 24 — — 24 52 — — 52 Other revenue 1 — — 1 1 — — 1 Total revenue $ 2,000 $ 183 $ 53 $ 2,236 $ 3,993 $ 409 $ 121 $ 4,523 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 (in millions) Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Gasoline $ 1,421 $ — $ — $ 1,421 $ 2,524 $ — $ — $ 2,524 Distillates (2) 1,350 — 27 1,377 2,312 — 27 2,339 Ammonia — 61 — 61 — 103 — 103 UAN — 159 — 159 — 319 — 319 Other urea products — 11 — 11 — 20 — 20 Freight revenue (3) 4 10 — 14 8 19 — 27 Other (4) 81 3 5 89 160 6 1 167 Revenue from product sales 2,856 244 32 3,132 5,004 467 28 5,499 Crude oil sales 12 — — 12 17 — — 17 Other revenue — — — — 1 — — 1 Total revenue $ 2,868 $ 244 $ 32 $ 3,144 $ 5,022 $ 467 $ 28 $ 5,517 (1) The Petroleum Segment may incur broker commissions or transportation costs prior to the transfer on certain sales. The broker costs are expensed since the contract durations are less than one year. Transportation costs are accounted for as fulfillment costs and are expensed as incurred. (2) Distillates consist primarily of diesel fuel, kerosene, jet fuel, and renewable fuels activity. (3) Freight revenue recognized by the Petroleum Segment is primarily tariff and line loss charges rebilled to customers to reimburse the Petroleum Segment for expenses incurred from a pipeline operator. Freight revenue recognized by the Nitrogen Fertilizer Segment represents the pass-through finished goods delivery costs incurred prior to customer acceptance and is reimbursed by customers. An offsetting expense for freight is included in Cost of materials and other. (4) Other revenue for the Petroleum Segment consists primarily of (i) feedstock, heavy oils, and liquified petroleum gas sales, (ii) sulfur credits, and (iii) pipeline and processing fees. For the Nitrogen Fertilizer Segment, other revenue consists of sales of (i) nitric acid and (ii) carbon oxide, including sales in connection with the 45Q Transaction and the noncash consideration received, which is recognized as the performance obligation associated with the CO Contract is satisfied over its term of 7 years, 3 months. Revenue from the CO Contract is recognized over time based on carbon oxide volumes measured at delivery. The Other/Elimination columns include certain credits related to renewable fuel activity and eliminations of intercompany transactions. Remaining Performance Obligations We have spot and term contracts with customers and the transaction prices are either fixed or based on market indices (variable consideration). We do not disclose remaining performance obligations for contracts that have terms of one year or less and for contracts where the variable consideration was entirely allocated to an unsatisfied performance obligation. As of June 30, 2023, these contracts have a remaining duration of less than three years. As of June 30, 2023, the Nitrogen Fertilizer Segment had approximately $2 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Nitrogen Fertilizer Segment expects to recognize the majority of these performance obligations as revenue by the end of 2023 and the remaining nominal balance during 2024. Contract Balances A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the six months ended June 30, 2023 is presented below: (in millions) Balance at December 31, 2022 $ 48 Add: New prepay contracts entered into during the period 10 Noncash consideration received as part of the 45Q Transaction 46 Less: Revenue recognized that was included in the contract liability balance at the beginning of the period (46) Revenue recognized related to contracts entered into during the period (10) Revenue recognized related to noncash consideration (3) Other changes (1) Total deferred revenue 44 Less: Current portion of deferred revenue (7) Total long-term deferred revenue $ 37

Derivative Financial Instrument

Derivative Financial Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments, Investments and Fair Value Measurements	(10) Derivative Financial Instruments and Fair Value Measurements Derivative Financial Instruments The following outlines the net notional buy (sell) position of our commodity derivative instruments held as of June 30, 2023 and December 31, 2022: (in thousands of barrels) Commodity June 30, 2023 December 31, 2022 Forwards Crude (113) 373 Swaps NYMEX Diesel Cracks (7,875) — Swaps NYMEX RBOB Cracks (3,250) — Swaps NYMEX 2-1-1 Cracks (7,380) — Futures Crude (50) (150) Futures ULSD (75) (215) Futures Soybean (278) (109) As of June 30, 2023, the Petroleum Segment had open fixed-price commitments to purchase a net amount of 63 million RINs. The following outlines the realized and unrealized gains (losses) incurred from derivative activities, all of which were recorded in Cost of materials and other on the condensed consolidated statements of operations: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Forwards $ 2 $ (4) $ 10 $ 6 Swaps — (49) 29 (48) Futures (6) (15) 2 (24) Total (loss) gain on derivatives, net $ (4) $ (68) $ 41 $ (66) Offsetting Assets and Liabilities The following outlines the condensed consolidated balance sheet line items that include our derivative financial instruments and the effect of the collateral netting. Such amounts are presented on a gross basis, before the effects of collateral netting. The Company elected to offset the derivative assets and liabilities with the same counterparty on a net basis when the legal right of offset exists. June 30, 2023 December 31, 2022 Derivatives Collateral Netting Net Value Derivatives Collateral Netting Net Value (in millions) Assets Liabilities Assets Liabilities Prepaid expenses and other current assets $ 6 $ — $ — $ 6 $ — $ (1) $ 1 $ — Other long-term assets 11 — — 11 — — — — Other current liabilities — (10) 5 (5) — (4) — (4) At June 30, 2023 and December 31, 2022, the Company had $9 million and $7 million of collateral under master netting arrangements not offset against the derivatives within Prepaid expenses and other current assets on the condensed consolidated balance sheets, respectively, primarily related to initial margin requirements. Our derivative instruments contain credit risk-related contingent provisions associated with our credit ratings. If our credit rating were to be downgraded, it would allow the counterparty to require us to post collateral or to request immediate, full settlement of derivative instruments in liability positions. There were no derivatives with credit risk-related contingent provisions that were in a net liability position as of June 30, 2023 and December 31, 2022. Fair Value Measurements 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, 2023 and December 31, 2022: June 30, 2023 (in millions) Level 1 Level 2 Level 3 Total Location and description: Prepaid expenses and other current assets (derivative financial instruments) $ — $ 6 $ — $ 6 Other long-term assets (derivative financial instruments) — 11 — 11 Total assets $ — $ 17 $ — $ 17 Other current liabilities (RFS obligations) $ — $ (599) $ — $ (599) Other current liabilities (derivative financial instruments) — (5) — (5) Long-term debt and finance lease obligations, net of current portion (long-term debt) — (1,409) — (1,409) Total liabilities $ — $ (2,013) $ — $ (2,013) December 31, 2022 (in millions) Level 1 Level 2 Level 3 Total Location and description: Other current liabilities (commodity derivatives) $ — $ (4) $ — $ (4) Other current liabilities (RFS obligations) — (692) — (692) Long-term debt and finance lease obligations, net of current portion (long-term debt) — (1,394) — (1,394) Total liabilities $ — $ (2,090) $ — $ (2,090) As of June 30, 2023 and December 31, 2022, the only financial assets and liabilities that are measured at fair value on a recurring basis are the Company’s derivative instruments and the RFS obligations. 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 are valued using broker quoted market prices of identical or similar instruments and are considered Level 2 in the fair value hierarchy. Similarly, RFS obligations are valued using available broker quoted market RIN prices for each specific or closest vintage year and are considered Level 2 in the fair value hierarchy. CVR Partners performed a non-recurring fair value measurement of the equity interest received as part of the 45Q Transaction in the first quarter of 2023. Such valuation used a combination of the market approach and the discounted cash flow methodology with key inputs including the discount rate, contractual and expected future cash flows, and market multiples. CVR Partners determined the estimated fair value of the consideration received to be $46 million, which is a non-recurring Level 3 measurement, as defined by FASB ASC Topic 820, Fair Value Measurements , based on the use of CVR Partners’ own assumptions described above. The Company had no transfers of assets or liabilities between any of the above levels during the six months ended June 30, 2023 and year ended December 31, 2022.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2023
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, 2023 and 2022 is presented below: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 CVR Partners - Phantom Unit Awards $ 2 $ (3) $ 4 $ 11 Incentive Unit Awards 4 14 11 25 Total share-based compensation expense $ 6 $ 11 $ 15 $ 36

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
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 from those disclosed in the 2022 Form 10-K and in the Form 10-Q for the period ended March 31, 2023. 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 to 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 Russia-Ukraine conflict, the current global and domestic economic environment, including increasing interest rates and inflation or a potential recession, or ongoing crude oil, refined product, or utility 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, 2023, 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 Effective on August 4, 2021, an indirect, wholly owned subsidiary of CVR Refining entered into the Second Amended and Restated Crude Oil Supply Agreement (the “Vitol Crude Oil Supply Agreement”) with Vitol Inc. (“Vitol”), which superseded, in its entirety, the August 31, 2012 Amended and Restated Crude Oil Supply Agreement between the parties. Under the Vitol 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 Vitol Crude Oil Supply Agreement, as a percentage of the total crude oil purchases (in barrels), were approximately 19% and 30% for the three months ended June 30, 2023 and 2022, respectively, and approximately 25% and 34% for the six months ended June 30, 2023 and 2022, respectively. In June 2023, the Company’s subsidiary delivered a notice of termination to Vitol, which terminates the Vitol Crude Oil Supply Agreement according to previously disclosed terms, effective December 31, 2023. The foregoing description of the Vitol Crude Oil Supply Agreement does not purport to be complete and is qualified in its entirety by reference to its full text which was filed with the Company’s quarterly report on Form 10-Q for the period ended September 30, 2021. On June 28, 2023, the Company, through one of its indirect wholly owned subsidiaries, entered into a crude oil supply agreement (the “Gunvor Crude Oil Supply Agreement”) with Gunvor USA LLC (“Gunvor”), pursuant to which Gunvor will supply certain crude oil and intermediation logistics in connection with deliveries beginning on or about January 1, 2024. The Gunvor Crude Oil Supply Agreement has a term of 24 months, subject to automatic one-year renewals thereafter in the absence of either party providing 180 days notice of termination and will replace the Vitol Crude Oil Supply Agreement. The foregoing description of the Gunvor Crude Oil Supply Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Gunvor Crude Oil Supply Agreement, which is filed herewith. 45Q Transaction Under the agreements entered into in connection with the 45Q Transaction, the Company’s indirect subsidiary CRNF is obligated to meet certain minimum quantities of carbon oxide supply each year during the term of the agreement and is subject to fees of up to $15 million per year (reduced pro rata for partial years) to the unaffiliated third-party investors, subject to an overall $45 million cap, if these minimum quantities are not delivered. CVR Partners issued a guarantee to the unaffiliated third-party investors and certain affiliates involved in the 45Q Transaction of the payment and performance obligations of CRNF and CVRP JV, which include the aforementioned fees. This guarantee has no impacts on the accounting records of CVR Partners unless the parties fail to comply with the terms of the 45Q Transaction contracts. Renewable Fuel Standards Certain of the Petroleum Segment’s subsidiaries are subject to the RFS (collectively, the “obligated-party subsidiaries”) implemented by the Environmental Protection Agency (the “EPA”), which requires refiners to either blend renewable fuels into their transportation fuels or purchase renewable fuel credits, known as RINs, in lieu of blending. The Petroleum Segment’s obligated-party subsidiaries are not able to blend the majority of their transportation fuels and must either purchase RINs or obtain waiver credits for cellulosic biofuels, or other exemptions from the EPA, in order to comply with the RFS. Additionally, the Petroleum Segment’s obligated-party subsidiaries purchase RINs generated from our renewable diesel operations, whose operating results are not included in either of our reportable segments, to partially satisfy their RFS obligations. The Company’s obligated-party subsidiaries recognized expenses of approximately of $48 million and $135 million for the three months ended June 30, 2023 and 2022, respectively, and expenses of $37 million and $241 million for the six months ended June 30, 2023 and 2022, respectively, for its compliance with the RFS (based on the 2020, 2021, 2022 and 2023 renewable volume obligation (“RVO”), for the respective periods, excluding the impacts of any exemptions or waivers to which the Company’s obligated-party subsidiaries may be entitled). 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, biodiesel, or renewable diesel. At each reporting period, to the extent RINs purchased and generated through blending are less than the RFS obligation (excluding the impact of exemptions or waivers to which the Company may be entitled), the remaining position is valued using RIN market prices at period end using for each specific or closest vintage year. As of June 30, 2023 and December 31, 2022, the Company’s obligated-party subsidiaries’ RFS positions were approximately $599 million and $692 million, respectively, and are recorded in Other current liabilities in the condensed consolidated balance sheets. Litigation Call Option Coverage Case – In July 2023, the Superior Court of the State of Delaware (the “Superior Court”) heard oral argument on the motion filed by the primary and excess insurers (the “Insurers”) of the Company and certain of its affiliates (the “Call Defendants”) seeking to stay the Call Defendants’ action against the Insurers alleging breach of contract and breach of the implied covenant of good faith and fair dealing relating to the Insurers’ denial of coverage of the Call Defendants’ defense expenses and indemnity, as well as other conduct of the Insurers, relating to the lawsuits filed by former unitholders of CVR Refining against the Call Defendants relating 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, which action was settled by the parties on August 19, 2022 (the “Call Option Lawsuits"). The Insurers’ declaratory judgment action seeking determination that the Insurers owe no indemnity coverage in relation to insurance policies that have coverage limits of $50 million for settlement of the Call Option Lawsuits remains pending before the 434th Judicial District Court of Fort Bend County, Texas, which granted summary judgment in favor of the Insurers in November 2022, which the Company intends to appeal once final judgment is entered. As our potential appeal of the Texas court decision and our Superior Court lawsuit are in their early stages, the Company cannot determine at this time the outcome of these lawsuits, including whether the outcome would have a material impact on the Company’s financial position, results of operations, or cash flows. RFS Disputes – The Company continues to pursue the petitions it has filed in the United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) and the United States Court of Appeals for the District of Columbia Circuit (the “DC Circuit”) challenging the EPA’s April 2022 and June 2022 actions relating to the RFS including but not limited to its denial of small refinery exemptions (“SREs”) sought by Wynnewood Refining Company, LLC (“WRC”) for the 2017 through 2021 compliance periods (the “SRE Denial”) and the EPA’s Final Rule issued in July 2022 establishing RVO, and also intervened in an action filed by certain biofuels producers relating to the RFS. In March 2023, the Fifth Circuit granted WRC’s motion to stay enforcement of the RFS against WRC pending resolution of its claims relating to the SRE Denial. Litigation in these cases continues. In July 2023, the EPA denied 26 petitions from small refineries seeking SREs for one or more of the compliance years between 2016 and 2023, including the SRE sought by WRC for 2022, which denials WRC intends to challenge in court. The Company cannot yet determine at this time the outcomes of these matters. While we intend to prosecute these actions vigorously, if these matters are ultimately concluded in a manner adverse to the Company, they could have a material effect on the Company’s financial position, results of operations, or cash flows. Environmental, Health, and Safety (“EHS”) Matters Clean Air Act Matter - Coffeyville Resources Refining & Marketing, LLC (“CRRM”) is party to proceedings relating to claims brought by the United States, on behalf of the EPA, and the State of Kansas, on behalf of the Kansas Department of Health and Environment (“KDHE”). One of these proceedings concerns claims arising under a 2012 Consent Decree (“CD”), which primarily relate to the CRRM refinery’s flares; the United States, on behalf of the EPA, and KDHE are seeking approximately $6.8 million in stipulated penalties under the CD (the “Stipulated Claims”), which amount CRRM previously deposited into a commercial escrow account and which escrowed funds are legally restricted for use and are included in Other assets in our condensed consolidated balance sheets. CRRM has filed an appeal of an order from the Federal District Court for the District of Kansas (“D. Kan.”) denying its petition for judicial review of the Stipulated Claims in the United States Court of Appeals for the Tenth Circuit (the “Tenth Circuit”), which remains pending. CRRM is also party to proceedings brought by the United States, on behalf of the EPA, and KDHE in the D. Kan, alleging violations of the Clean Air Act, the Kansas State Implementation Plan, Kansas law, and CRRM’s permits relating to flares, heaters, and related matters; the United States, on behalf of the EPA, and KDHE are seeking civil penalties, injunctive relief, and related relief in connection with these claims (collectively, the “Statutory Claims”). In May 2023, the parties mediated both the Statutory Claims and the Stipulated Claims before the Tenth Circuit mediation office and agreed to stay the proceedings before the D. Kan. for 90 days (i.e., until August 20, 2023) while the parties work to reach a final settlement agreement, including with respect to injunctive relief. As negotiations relating to the potential settlement of the Stipulated Claims and the Statutory Claims are ongoing, 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.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Business Segments	(13) Business Segments CVR Energy’s revenues are primarily derived from two reportable 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 business segments 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 activities associated with our renewable fuels business, intercompany eliminations, corporate cash and cash equivalents, income tax activities, and other corporate activities that are not allocated or aggregated to the reportable segments. The following table summarizes certain operating results and capital expenditures information by segment: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Net sales: Petroleum $ 2,000 $ 2,868 $ 3,993 $ 5,022 Nitrogen Fertilizer 183 244 409 467 Other, including intersegment eliminations 53 32 121 28 Total net sales $ 2,236 $ 3,144 $ 4,523 $ 5,517 Operating income (loss): Petroleum $ 171 $ 297 $ 408 $ 427 Nitrogen Fertilizer 67 126 176 230 Other, including intersegment eliminations (14) (21) (30) (34) Total operating income (loss) 224 402 554 623 Interest expense, net (16) (23) (32) (48) Other income (expense), net 4 (74) 6 (84) Income before income tax expense $ 212 $ 305 $ 528 $ 491 Depreciation and amortization: Petroleum $ 45 $ 46 $ 91 $ 93 Nitrogen Fertilizer 20 21 35 42 Other 7 6 15 5 Total depreciation and amortization $ 72 $ 73 $ 141 $ 140 Capital expenditures: (2) Petroleum $ 22 $ 19 $ 53 $ 38 Nitrogen Fertilizer 6 9 10 14 Other (1) 20 13 34 39 Total capital expenditures $ 48 $ 41 $ 97 $ 91 The following table summarizes total assets by segment: (in millions) June 30, 2023 December 31, 2022 Petroleum $ 4,260 $ 4,354 Nitrogen Fertilizer 1,019 1,100 Other, including intersegment eliminations (1) (1,062) (1,335) Total assets $ 4,217 $ 4,119 (1) Other includes amounts for the Wynnewood Refinery’s renewable feedstock pretreater project. (2) Capital expenditures are shown exclusive of capitalized turnaround expenditures.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	(14) Supplemental Cash Flow Information Cash flows related to income taxes, interest, leases and capital and turnaround expenditures included in accounts payable were as follows: Six Months Ended (in millions) 2023 2022 Supplemental disclosures: Cash paid for income taxes, net of refunds $ 39 $ 60 Cash paid for interest 48 49 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 9 9 Operating cash flows from finance leases 2 2 Financing cash flows from finance leases 3 3 Noncash investing and financing activities: Change in capital expenditures included in accounts payable (1) (3) 3 Change in turnaround expenditures included in accounts payable 1 — (1) Capital expenditures are shown exclusive of capitalized turnaround expenditures. Cash, cash equivalents and restricted cash consisted of the following: (in millions) June 30, 2023 December 31, 2022 Cash and cash equivalents $ 751 $ 510 Restricted cash (1) 7 7 Cash, cash equivalents and restricted cash $ 758 $ 517 (1) 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, 2023
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, 2023 and 2022 is summarized below: Related Party Activity Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Sales to related parties: CVRP JV CO Contract (1) $ 1 $ — $ 2 $ — Purchases from related parties: Enable Joint Venture Transportation Agreement 3 2 6 5 Midway Joint Venture Agreement (2) 5 5 10 11 Payments: Dividends (3) 36 28 71 28 (1) Sales to related parties, included in Net sales in our condensed consolidated financial statements, consists of CO sales to a CVRP JV subsidiary. (2) Purchases from related parties, included in Cost of materials and other in our condensed consolidated financial statements, represents reimbursements for crude oil transportation services incurred on the Midway JV through Vitol as the intermediary purchasing agent. (3) See below for a summary of the dividends paid to IEP during the six months ended June 30, 2023 and year ended December 31, 2022. Dividends to CVR Energy Stockholders Dividends, if any, including the payment, amount and timing thereof, are determined in 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. The following tables present quarterly and special dividends paid to the Company’s stockholders, including IEP, during 2023 and 2022 (amounts presented in table below may not add to totals presented due to rounding): Quarterly Dividends Paid ( in millions ) Related Period Date Paid Quarterly Dividends Public Stockholders IEP Total 2022 - 4th Quarter March 13, 2023 $ 0.50 $ 15 $ 36 $ 50 2023 - 1st Quarter May 22, 2023 0.50 15 36 50 Total 2023 quarterly dividends $ 1.00 $ 29 $ 71 $ 101 Quarterly Dividends Paid ( in millions ) Related Period Date Paid Quarterly Dividends Public Stockholders IEP Total 2022 - 1st Quarter May 23, 2022 $ 0.40 $ 12 $ 28 $ 40 2022 - 2nd Quarter August 22, 2022 0.40 12 28 40 2022 - 3rd Quarter November 21, 2022 0.40 12 28 40 Total 2022 quarterly dividends $ 1.20 $ 35 $ 85 $ 121 Special Dividends Paid ( in millions ) Related Period Date Paid Special Dividends Public Stockholders IEP Total 2022 - 2nd Quarter August 22, 2022 $ 2.60 $ 76 $ 185 $ 261 2022 - 3rd Quarter November 21, 2022 1.00 29 71 101 Total 2022 special dividends $ 3.60 $ 106 $ 256 $ 362 No quarterly dividends were paid during the first quarter of 2022 related to the fourth quarter of 2021. For the second quarter of 2023, the Company, upon approval by the Board on July 31, 2023, declared a cash dividend of $0.50 per share, or $50 million, which is payable August 21, 2023 to shareholders of record as of August 14, 2023. Of this amount, IEP will receive $36 million due to its ownership interest in the Company’s shares. In addition, the Company, upon approval by the Board on July 31, 2023, declared a special dividend of $1.00 per share, or $101 million, which is payable August 21, 2023 to shareholders of record as of August 14, 2023. Of this amount, IEP will receive $71 million due to its ownership interest in the Company’s shares. Distributions to CVR Partners’ Unitholders Distributions, if any, including the payment, amount and timing thereof, and UAN GP Board’s distribution policy, including the definition of Available Cash, are subject to change at the discretion of the UAN GP Board. The following tables present quarterly distributions paid by CVR Partners to its unitholders, including amounts received by the Company, during 2023 and 2022 (amounts presented in tables below may not add to totals presented due to rounding): Quarterly Distributions Paid (in millions) Related Period Date Paid Quarterly Distributions Public CVR Energy Total 2022 - 4th Quarter March 13, 2023 $ 10.50 $ 70 $ 41 $ 111 2023 - 1st Quarter May 22, 2023 10.43 70 41 110 Total 2023 quarterly distributions $ 20.93 $ 140 $ 81 $ 221 Quarterly Distributions Paid (in millions) Related Period Date Paid Quarterly Distributions Public CVR Energy Total 2021 - 4th Quarter March 14, 2022 $ 5.24 $ 36 $ 20 $ 56 2022 - 1st Quarter May 23, 2022 2.26 15 9 24 2022 - 2nd Quarter August 22, 2022 10.05 67 39 106 2022 - 3rd Quarter November 21, 2022 1.77 12 7 19 Total 2022 quarterly distributions $ 19.32 $ 130 $ 75 $ 205 For the second quarter of 2023, CVR Partners, upon approval by the UAN GP Board on July 31, 2023, declared a distribution of $4.14 per common unit, or $44 million, which is payable August 21, 2023 to unitholders of record as of August 14, 2023. Of this amount, CVR Energy will receive approximately $16 million, with the remaining amount payable to public unitholders.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 130	$ 165	$ 325	$ 258

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements, 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”), include the accounts of the Company and its majority-owned direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. Certain notes and other information have been condensed or omitted from the condensed consolidated financial statements. Therefore, these condensed consolidated financial statements should be read in conjunction with the December 31, 2022 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity (“VIE”). 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.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of components of inventories	Inventories consisted of the following: (in millions) June 30, 2023 December 31, 2022 Finished goods $ 239 $ 297 Raw materials 171 206 In-process inventories 23 35 Parts, supplies and other 91 86 Total inventories $ 524 $ 624

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Summary of property, plant and equipment	Property, plant and equipment consisted of the following: (in millions) June 30, 2023 December 31, 2022 Machinery and equipment $ 4,249 $ 4,194 Buildings and improvements 87 86 ROU finance leases 81 79 Land and improvements 73 72 Furniture and fixtures 38 37 Construction in progress 188 143 Other 15 15 4,731 4,626 Less: Accumulated depreciation and amortization (2,496) (2,379) Total property, plant and equipment, net $ 2,235 $ 2,247

Equity Method Investments (Tabl

Equity Method Investments (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of equity method investments	(in millions) CVRP JV Enable JV Midway JV Total Balance at December 31, 2022 $ — $ 5 $ 71 $ 76 CVRP JV inception 46 — — 46 Cash distributions (1) (19) (1) (2) (22) Equity income — 1 2 3 Balance at March 31, 2023 27 5 71 103 Cash distributions (1) (1) (2) (4) Equity income — 1 2 3 Balance at June 30, 2023 $ 26 $ 5 $ 71 $ 102 (1) Of the CVRP JV amount, approximately $1 million related to incremental costs associated with obtaining the CO Contract were capitalized and included in Prepaid expenses and other current assets and Other long-term assets in our condensed consolidated financial statements.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 and December 31, 2022: June 30, 2023 December 31, 2022 (in millions) Operating Leases Finance Leases Operating Leases Finance Leases ROU assets, net Pipeline and storage $ 14 $ 19 $ 16 $ 20 Railcars 10 — 11 — Real estate and other 16 15 13 15 Lease liability Pipelines and storage 14 30 16 32 Railcars 9 — 11 — Real estate and other 15 17 13 16
Schedule of lease expense, lease terms, and discount rates	For the three and six months ended June 30, 2023 and 2022, we recognized lease expense comprised of the following components: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Operating lease expense $ 5 $ 4 $ 9 $ 8 Finance lease expense: Amortization of ROU asset 2 1 3 3 Interest expense on lease liability 1 1 2 2 Short-term lease expense 2 2 5 5 The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and lease liabilities: June 30, 2023 December 31, 2022 Operating Leases Finance Leases Operating Leases Finance Leases Weighted-average remaining lease term 3.9 years 5.8 years 4.1 years 6.3 years Weighted-average discount rate 5.5 % 9.0 % 5.2 % 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, 2023: (in millions) Operating Leases Finance Leases Remainder of 2023 $ 10 $ 6 2024 14 11 2025 8 11 2026 6 11 2027 3 10 Thereafter 3 13 Total lease payments 44 62 Less: imputed interest (6) (15) Total lease liability $ 38 $ 47
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, 2023: (in millions) Operating Leases Finance Leases Remainder of 2023 $ 10 $ 6 2024 14 11 2025 8 11 2026 6 11 2027 3 10 Thereafter 3 13 Total lease payments 44 62 Less: imputed interest (6) (15) Total lease liability $ 38 $ 47

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
Summary of other current liabilities	Other current liabilities were as follows: (in millions) June 30, 2023 December 31, 2022 Accrued Renewable Fuel Standards (“RFS”) obligation $ 599 $ 692 Accrued taxes other than income taxes 50 51 Share-based compensation 41 31 Personnel accruals 32 47 Accrued interest 24 24 Operating lease liabilities 14 15 Accrued income taxes 12 — Deferred revenue 7 48 Current portion of finance lease obligations 7 6 Derivatives 5 4 Other accrued expenses and liabilities 28 24 Total other current liabilities $ 819 $ 942

Long-Term Debt and Finance Le_2

Long-Term Debt and Finance Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of long-term debt and finance lease obligations	Long-term debt and finance lease obligations consisted of the following: (in millions) June 30, 2023 December 31, 2022 CVR Partners: 6.125% Senior Secured Notes, due June 2028 $ 550 $ 550 Unamortized discount and debt issuance costs (3) (3) Total CVR Partners debt 547 547 CVR Refining, LP (“CVR Refining”): Finance lease obligations, net of current portion 40 42 Total CVR Refining finance lease obligations, net of current portion 40 42 CVR Energy: 5.25% Senior Notes, due February 2025 600 600 5.75% Senior Notes, due February 2028 400 400 Unamortized debt issuance costs (3) (4) Total CVR Energy debt 997 996 Total long-term debt and finance lease obligations, net of current portion 1,584 1,585 Current portion of finance lease obligations 7 6 Total long-term debt and finance lease obligations, including current portion $ 1,591 $ 1,591 Credit Agreements (in millions) Total Available Borrowing Capacity Amount Borrowed as of June 30, 2023 Outstanding Letters of Credit Available Capacity as of June 30, 2023 Maturity Date CVR Partners: Asset Based (“Nitrogen Fertilizer ABL”) Credit Agreement $ 35 $ — $ — $ 35 September 30, 2024 CVR Refining: Amended and Restated Asset Based (“Petroleum ABL”) Credit Agreement $ 275 $ — $ 20 $ 255 June 30, 2027

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of revenue disaggregated by major product	The following tables present the Company’s revenue disaggregated by major product, which include a reconciliation of the disaggregated revenue by the Company’s reportable segments: Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 (in millions) Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Gasoline $ 1,092 $ — $ — $ 1,092 $ 2,102 $ — $ — $ 2,102 Distillates (2) 830 — 35 865 1,749 — 83 1,832 Ammonia — 56 — 56 — 94 — 94 UAN — 104 — 104 — 268 — 268 Other urea products — 7 — 7 — 15 — 15 Freight revenue (3) 5 11 — 16 8 22 — 30 Other (4) 48 5 18 71 81 10 38 129 Revenue from product sales 1,975 183 53 2,211 3,940 409 121 4,470 Crude oil sales 24 — — 24 52 — — 52 Other revenue 1 — — 1 1 — — 1 Total revenue $ 2,000 $ 183 $ 53 $ 2,236 $ 3,993 $ 409 $ 121 $ 4,523 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 (in millions) Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Gasoline $ 1,421 $ — $ — $ 1,421 $ 2,524 $ — $ — $ 2,524 Distillates (2) 1,350 — 27 1,377 2,312 — 27 2,339 Ammonia — 61 — 61 — 103 — 103 UAN — 159 — 159 — 319 — 319 Other urea products — 11 — 11 — 20 — 20 Freight revenue (3) 4 10 — 14 8 19 — 27 Other (4) 81 3 5 89 160 6 1 167 Revenue from product sales 2,856 244 32 3,132 5,004 467 28 5,499 Crude oil sales 12 — — 12 17 — — 17 Other revenue — — — — 1 — — 1 Total revenue $ 2,868 $ 244 $ 32 $ 3,144 $ 5,022 $ 467 $ 28 $ 5,517 (1) The Petroleum Segment may incur broker commissions or transportation costs prior to the transfer on certain sales. The broker costs are expensed since the contract durations are less than one year. Transportation costs are accounted for as fulfillment costs and are expensed as incurred. (2) Distillates consist primarily of diesel fuel, kerosene, jet fuel, and renewable fuels activity. (3) Freight revenue recognized by the Petroleum Segment is primarily tariff and line loss charges rebilled to customers to reimburse the Petroleum Segment for expenses incurred from a pipeline operator. Freight revenue recognized by the Nitrogen Fertilizer Segment represents the pass-through finished goods delivery costs incurred prior to customer acceptance and is reimbursed by customers. An offsetting expense for freight is included in Cost of materials and other. (4) Other revenue for the Petroleum Segment consists primarily of (i) feedstock, heavy oils, and liquified petroleum gas sales, (ii) sulfur credits, and (iii) pipeline and processing fees. For the Nitrogen Fertilizer Segment, other revenue consists of sales of (i) nitric acid and (ii) carbon oxide, including sales in connection with the 45Q Transaction and the noncash consideration received, which is recognized as the performance obligation associated with the CO Contract is satisfied over its term of 7 years, 3 months. Revenue from the CO Contract is recognized over time based on carbon oxide volumes measured at delivery. The Other/Elimination columns include certain credits related to renewable fuel activity and eliminations of intercompany transactions.
Summary of deferred revenue activity	A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the six months ended June 30, 2023 is presented below: (in millions) Balance at December 31, 2022 $ 48 Add: New prepay contracts entered into during the period 10 Noncash consideration received as part of the 45Q Transaction 46 Less: Revenue recognized that was included in the contract liability balance at the beginning of the period (46) Revenue recognized related to contracts entered into during the period (10) Revenue recognized related to noncash consideration (3) Other changes (1) Total deferred revenue 44 Less: Current portion of deferred revenue (7) Total long-term deferred revenue $ 37

Derivative Financial Instrume_2

Derivative Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of outstanding positions held	The following outlines the net notional buy (sell) position of our commodity derivative instruments held as of June 30, 2023 and December 31, 2022: (in thousands of barrels) Commodity June 30, 2023 December 31, 2022 Forwards Crude (113) 373 Swaps NYMEX Diesel Cracks (7,875) — Swaps NYMEX RBOB Cracks (3,250) — Swaps NYMEX 2-1-1 Cracks (7,380) — Futures Crude (50) (150) Futures ULSD (75) (215) Futures Soybean (278) (109)
Schedule of gains (losses) on derivatives	The following outlines the realized and unrealized gains (losses) incurred from derivative activities, all of which were recorded in Cost of materials and other on the condensed consolidated statements of operations: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Forwards $ 2 $ (4) $ 10 $ 6 Swaps — (49) 29 (48) Futures (6) (15) 2 (24) Total (loss) gain on derivatives, net $ (4) $ (68) $ 41 $ (66)
Schedule of derivative offsetting assets	The following outlines the condensed consolidated balance sheet line items that include our derivative financial instruments and the effect of the collateral netting. Such amounts are presented on a gross basis, before the effects of collateral netting. The Company elected to offset the derivative assets and liabilities with the same counterparty on a net basis when the legal right of offset exists. June 30, 2023 December 31, 2022 Derivatives Collateral Netting Net Value Derivatives Collateral Netting Net Value (in millions) Assets Liabilities Assets Liabilities Prepaid expenses and other current assets $ 6 $ — $ — $ 6 $ — $ (1) $ 1 $ — Other long-term assets 11 — — 11 — — — — Other current liabilities — (10) 5 (5) — (4) — (4)
Schedule of derivative offsetting liabilities	The following outlines the condensed consolidated balance sheet line items that include our derivative financial instruments and the effect of the collateral netting. Such amounts are presented on a gross basis, before the effects of collateral netting. The Company elected to offset the derivative assets and liabilities with the same counterparty on a net basis when the legal right of offset exists. June 30, 2023 December 31, 2022 Derivatives Collateral Netting Net Value Derivatives Collateral Netting Net Value (in millions) Assets Liabilities Assets Liabilities Prepaid expenses and other current assets $ 6 $ — $ — $ 6 $ — $ (1) $ 1 $ — Other long-term assets 11 — — 11 — — — — Other current liabilities — (10) 5 (5) — (4) — (4)
Schedule of 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, 2023 and December 31, 2022: June 30, 2023 (in millions) Level 1 Level 2 Level 3 Total Location and description: Prepaid expenses and other current assets (derivative financial instruments) $ — $ 6 $ — $ 6 Other long-term assets (derivative financial instruments) — 11 — 11 Total assets $ — $ 17 $ — $ 17 Other current liabilities (RFS obligations) $ — $ (599) $ — $ (599) Other current liabilities (derivative financial instruments) — (5) — (5) Long-term debt and finance lease obligations, net of current portion (long-term debt) — (1,409) — (1,409) Total liabilities $ — $ (2,013) $ — $ (2,013) December 31, 2022 (in millions) Level 1 Level 2 Level 3 Total Location and description: Other current liabilities (commodity derivatives) $ — $ (4) $ — $ (4) Other current liabilities (RFS obligations) — (692) — (692) Long-term debt and finance lease obligations, net of current portion (long-term debt) — (1,394) — (1,394) Total liabilities $ — $ (2,090) $ — $ (2,090)

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 and 2022 is presented below: Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 CVR Partners - Phantom Unit Awards $ 2 $ (3) $ 4 $ 11 Incentive Unit Awards 4 14 11 25 Total share-based compensation expense $ 6 $ 11 $ 15 $ 36

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of 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) 2023 2022 2023 2022 Net sales: Petroleum $ 2,000 $ 2,868 $ 3,993 $ 5,022 Nitrogen Fertilizer 183 244 409 467 Other, including intersegment eliminations 53 32 121 28 Total net sales $ 2,236 $ 3,144 $ 4,523 $ 5,517 Operating income (loss): Petroleum $ 171 $ 297 $ 408 $ 427 Nitrogen Fertilizer 67 126 176 230 Other, including intersegment eliminations (14) (21) (30) (34) Total operating income (loss) 224 402 554 623 Interest expense, net (16) (23) (32) (48) Other income (expense), net 4 (74) 6 (84) Income before income tax expense $ 212 $ 305 $ 528 $ 491 Depreciation and amortization: Petroleum $ 45 $ 46 $ 91 $ 93 Nitrogen Fertilizer 20 21 35 42 Other 7 6 15 5 Total depreciation and amortization $ 72 $ 73 $ 141 $ 140 Capital expenditures: (2) Petroleum $ 22 $ 19 $ 53 $ 38 Nitrogen Fertilizer 6 9 10 14 Other (1) 20 13 34 39 Total capital expenditures $ 48 $ 41 $ 97 $ 91 The following table summarizes total assets by segment: (in millions) June 30, 2023 December 31, 2022 Petroleum $ 4,260 $ 4,354 Nitrogen Fertilizer 1,019 1,100 Other, including intersegment eliminations (1) (1,062) (1,335) Total assets $ 4,217 $ 4,119 (1) Other includes amounts for the Wynnewood Refinery’s renewable feedstock pretreater project. (2) Capital expenditures are shown exclusive of capitalized turnaround expenditures.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of cash flows related to income taxes, interest, leases, capital expenditures, and deferred financing costs included in accounts payable, and non-cash dividends	Cash flows related to income taxes, interest, leases and capital and turnaround expenditures included in accounts payable were as follows: Six Months Ended (in millions) 2023 2022 Supplemental disclosures: Cash paid for income taxes, net of refunds $ 39 $ 60 Cash paid for interest 48 49 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 9 9 Operating cash flows from finance leases 2 2 Financing cash flows from finance leases 3 3 Noncash investing and financing activities: Change in capital expenditures included in accounts payable (1) (3) 3 Change in turnaround expenditures included in accounts payable 1 — (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, 2023 December 31, 2022 Cash and cash equivalents $ 751 $ 510 Restricted cash (1) 7 7 Cash, cash equivalents and restricted cash $ 758 $ 517 (1) 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, 2023 December 31, 2022 Cash and cash equivalents $ 751 $ 510 Restricted cash (1) 7 7 Cash, cash equivalents and restricted cash $ 758 $ 517 (1) 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, 2023
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, 2023 and 2022 is summarized below: Related Party Activity Three Months Ended Six Months Ended (in millions) 2023 2022 2023 2022 Sales to related parties: CVRP JV CO Contract (1) $ 1 $ — $ 2 $ — Purchases from related parties: Enable Joint Venture Transportation Agreement 3 2 6 5 Midway Joint Venture Agreement (2) 5 5 10 11 Payments: Dividends (3) 36 28 71 28 (1) Sales to related parties, included in Net sales in our condensed consolidated financial statements, consists of CO sales to a CVRP JV subsidiary. (2) Purchases from related parties, included in Cost of materials and other in our condensed consolidated financial statements, represents reimbursements for crude oil transportation services incurred on the Midway JV through Vitol as the intermediary purchasing agent. (3) See below for a summary of the dividends paid to IEP during the six months ended June 30, 2023 and year ended December 31, 2022.
Summary of dividends paid	The following tables present quarterly and special dividends paid to the Company’s stockholders, including IEP, during 2023 and 2022 (amounts presented in table below may not add to totals presented due to rounding): Quarterly Dividends Paid ( in millions ) Related Period Date Paid Quarterly Dividends Public Stockholders IEP Total 2022 - 4th Quarter March 13, 2023 $ 0.50 $ 15 $ 36 $ 50 2023 - 1st Quarter May 22, 2023 0.50 15 36 50 Total 2023 quarterly dividends $ 1.00 $ 29 $ 71 $ 101 Quarterly Dividends Paid ( in millions ) Related Period Date Paid Quarterly Dividends Public Stockholders IEP Total 2022 - 1st Quarter May 23, 2022 $ 0.40 $ 12 $ 28 $ 40 2022 - 2nd Quarter August 22, 2022 0.40 12 28 40 2022 - 3rd Quarter November 21, 2022 0.40 12 28 40 Total 2022 quarterly dividends $ 1.20 $ 35 $ 85 $ 121
Summary of distributions paid	The following tables present quarterly distributions paid by CVR Partners to its unitholders, including amounts received by the Company, during 2023 and 2022 (amounts presented in tables below may not add to totals presented due to rounding): Quarterly Distributions Paid (in millions) Related Period Date Paid Quarterly Distributions Public CVR Energy Total 2022 - 4th Quarter March 13, 2023 $ 10.50 $ 70 $ 41 $ 111 2023 - 1st Quarter May 22, 2023 10.43 70 41 110 Total 2023 quarterly distributions $ 20.93 $ 140 $ 81 $ 221 Quarterly Distributions Paid (in millions) Related Period Date Paid Quarterly Distributions Public CVR Energy Total 2021 - 4th Quarter March 14, 2022 $ 5.24 $ 36 $ 20 $ 56 2022 - 1st Quarter May 23, 2022 2.26 15 9 24 2022 - 2nd Quarter August 22, 2022 10.05 67 39 106 2022 - 3rd Quarter November 21, 2022 1.77 12 7 19 Total 2022 quarterly distributions $ 19.32 $ 130 $ 75 $ 205

Organization and Nature of Bu_2

Organization and Nature of Business (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Feb. 22, 2021
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Recognition of deferred tax liability from change in book versus tax basis in CVR Partners					$ 1
Additional Paid-In Capital
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Noncontrolling interest, decrease (increase) from redemptions or purchase of interests					2
Noncontrolling Interest
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Noncontrolling interest, decrease (increase) from redemptions or purchase of interests					$ 3
CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of interest held by the public			63%
Stock Repurchase Program, authorized amount						$ 20
Common stock repurchased (in shares)	0	0	0	111,695
Cost, inclusive of transaction costs, of repurchase of outstanding common units				$ 12
Average price per common unit (in dollars per share)				$ 110.98
Amount remaining under Unit Repurchase Program	$ 0		$ 0
CVR Services | CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by wholly-owned subsidiary			37%
CVR Services | CVR GP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by general partner			100%
Majority Shareholder
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Ownership percentage held by controlling stockholder			71%

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 239	$ 297
Raw materials	171	206
In-process inventories	23	35
Parts, supplies and other	91	86
Total inventories	$ 524	$ 624

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
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	$ 79
Property, plant and equipment, gross	4,731	4,626
Less: Accumulated depreciation and amortization	(2,496)	(2,379)
Total property, plant and equipment, net	2,235	2,247
Machinery and equipment
Property, Plant, and Equipment
Property, plant and equipment, gross	4,249	4,194
Buildings and improvements
Property, Plant, and Equipment
Property, plant and equipment, gross	87	86
Land and improvements
Property, Plant, and Equipment
Property, plant and equipment, gross	73	72
Furniture and fixtures
Property, Plant, and Equipment
Property, plant and equipment, gross	38	37
Construction in progress
Property, Plant, and Equipment
Property, plant and equipment, gross	188	143
Other
Property, Plant, and Equipment
Property, plant and equipment, gross	$ 15	$ 15

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property, Plant, and Equipment
Depreciation and amortization	$ 72	$ 73	$ 141	$ 140
Property, Plant and Equipment
Property, Plant, and Equipment
Depreciation and amortization	$ 55	$ 56	$ 105	$ 109

Equity Method Investments - Add

Equity Method Investments - Additional Information (Details) $ in Millions	1 Months Ended	6 Months Ended
	Jan. 31, 2023 USD ($)	Jun. 30, 2023 mi in bbl
CVRP JV
Related Party Transaction [Line Items]
Ownership percentage in joint venture		50%
Enable JV
Related Party Transaction [Line Items]
Ownership percentage in joint venture		40%
Pipeline diameter (in inches) | in		12
Pipeline length (in miles) | mi		26
Pipeline capacity, barrels per day | bbl		20,000
Midway JV
Related Party Transaction [Line Items]
Ownership percentage in joint venture		50%
Pipeline diameter (in inches) | in		16
Pipeline length (in miles) | mi		99
Pipeline capacity, barrels per day | bbl		131,000
CVRP JV | Collaborative Arrangement, Transaction with Party to Collaborative Arrangement and Third Party
Related Party Transaction [Line Items]
Collaborative arrangement, upfront proceeds received | $	$ 18
Collaborative arrangement, additional proceeds expected (up to) | $	$ 60

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2023
Equity Method Investments [Roll Forward]
Balance at beginning of period	$ 103	$ 76	$ 76
CVRP JV inception		46
Cash distributions	(4)	(22)
Equity income	3	3
Balance at end of period	102	103	102
CVRP JV
Equity Method Investments [Roll Forward]
Balance at beginning of period	27	0	0
CVRP JV inception		46
Cash distributions	(1)	(19)
Equity income	0	0
Balance at end of period	26	27	26
Transaction costs capitalized			1
Enable JV
Equity Method Investments [Roll Forward]
Balance at beginning of period	5	5	5
CVRP JV inception		0
Cash distributions	(1)	(1)
Equity income	1	1
Balance at end of period	5	5	5
Midway JV
Equity Method Investments [Roll Forward]
Balance at beginning of period	71	71	71
CVRP JV inception		0
Cash distributions	(2)	(2)
Equity income	2	2
Balance at end of period	$ 71	$ 71	$ 71

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 option	Jul. 14, 2022 USD ($)	Feb. 21, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Number of options to extend the lease term | option	1
Minimum
Lessee, Lease, Description [Line Items]
Finance lease not yet commenced			$ 20
Operating lease not yet commenced		$ 8
Maximum
Lessee, Lease, Description [Line Items]
Finance lease not yet commenced			$ 25
Operating lease not yet commenced		$ 12

Leases - Balance Sheet Summary

Leases - Balance Sheet Summary (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Operating Leases
Lease liability	$ 38
Finance Leases
Lease liability	47
Pipeline and storage
Operating Leases
ROU assets, net	14	$ 16
Lease liability	14	16
Finance Leases
ROU assets, net	19	20
Lease liability	30	32
Railcars
Operating Leases
ROU assets, net	10	11
Lease liability	9	11
Finance Leases
ROU assets, net	0	0
Lease liability	0	0
Real estate and other
Operating Leases
ROU assets, net	16	13
Lease liability	15	13
Finance Leases
ROU assets, net	15	15
Lease liability	$ 17	$ 16

Leases - Lease Expense (Details

Leases - Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Operating lease expense	$ 5	$ 4	$ 9	$ 8
Finance lease expense:
Amortization of ROU asset	2	1	3	3
Interest expense on lease liability	1	1	2	2
Short-term lease expense	$ 2	$ 2	$ 5	$ 5

Leases - Lease Terms and Discou

Leases - Lease Terms and Discount Rates (Details)	Jun. 30, 2023	Dec. 31, 2022
Weighted-average remaining lease term
Operating Leases	3 years 10 months 24 days	4 years 1 month 6 days
Finance Leases	5 years 9 months 18 days	6 years 3 months 18 days
Weighted-average discount rate
Operating Leases	5.50%	5.20%
Finance Leases	9%	9%

Leases - Remaining Minimum Leas

Leases - Remaining Minimum Lease Payments (Details) $ in Millions	Jun. 30, 2023 USD ($)
Operating Leases
Remainder of 2023	$ 10
2024	14
2025	8
2026	6
2027	3
Thereafter	3
Total lease payments	44
Less: imputed interest	(6)
Total lease liability	38
Finance Leases
Remainder of 2023	6
2024	11
2025	11
2026	11
2027	10
Thereafter	13
Total lease payments	62
Less: imputed interest	(15)
Total lease liability	$ 47

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Accrued Renewable Fuel Standards (“RFS”) obligation	$ 599	$ 692
Accrued taxes other than income taxes	50	51
Share-based compensation	41	31
Personnel accruals	32	47
Accrued interest	24	24
Operating lease liabilities	$ 14	$ 15
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total other current liabilities	Total other current liabilities
Accrued income taxes	$ 12	$ 0
Deferred revenue	7	48
Current portion of finance lease obligations	7	6
Derivatives	5	4
Other accrued expenses and liabilities	28	24
Total other current liabilities	$ 819	$ 942

Long-Term Debt and Finance Le_3

Long-Term Debt and Finance Lease Obligations - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
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	$ 1,584	$ 1,585
Current portion of finance lease obligations	7	6
Total long-term debt and finance lease obligations, including current portion	1,591	1,591
CVR Energy
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs	(3)	(4)
Total debt	$ 997	996
Senior Notes | CVR Energy | 5.25% Senior Notes, due February 2025
Debt Instrument [Line Items]
Stated interest rate	5.25%
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount	$ 600	600
Senior Notes | CVR Energy | 5.75% Senior Notes, due February 2028
Debt Instrument [Line Items]
Stated interest rate	5.75%
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount	$ 400	400
CVR Partners
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs	(3)	(3)
Total debt	$ 547	547
CVR Partners | Senior Notes | 6.125% Senior Secured Notes, due June 2028
Debt Instrument [Line Items]
Stated interest rate	6.125%
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount	$ 550	550
CVR Refining
Debt Instrument [Line Items]
Finance lease obligations, net of current portion	40	42
Total long-term debt and finance lease obligations, net of current portion	$ 40	$ 42

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	Jun. 30, 2023 USD ($)
CVR Partners | Asset Based (“Nitrogen Fertilizer ABL”) Credit Agreement
Line of Credit Facility [Line Items]
Total Available Borrowing Capacity	$ 35
Amount Borrowed	0
Outstanding Letters of Credit	0
Available Capacity	35
CVR Refining | Amended and Restated Asset Based (“Petroleum ABL”) Credit Agreement
Line of Credit Facility [Line Items]
Total Available Borrowing Capacity	275
Amount Borrowed	0
Outstanding Letters of Credit	20
Available Capacity	$ 255

Revenue - Revenue Disaggregated

Revenue - Revenue Disaggregated by Major Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,236	$ 3,144	$ 4,523	$ 5,517
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-02-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	7 years 3 months		7 years 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	3 years		3 years
Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	$ 2,211	3,132	$ 4,470	5,499
Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,092	1,421	2,102	2,524
Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	865	1,377	1,832	2,339
Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	56	61	94	103
UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	104	159	268	319
Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	7	11	15	20
Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	16	14	30	27
Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	71	89	129	167
Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	24	12	52	17
Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	$ 1	0	$ 1	1
Nitrogen Fertilizer Segment | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	6 months		6 months
Nitrogen Fertilizer Segment | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	1 year		1 year
Operating Segments | Petroleum
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,000	2,868	$ 3,993	5,022
Operating Segments | Petroleum | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,975	2,856	3,940	5,004
Operating Segments | Petroleum | Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,092	1,421	2,102	2,524
Operating Segments | Petroleum | Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	830	1,350	1,749	2,312
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	8	8
Operating Segments | Petroleum | Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	48	81	81	160
Operating Segments | Petroleum | Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	24	12	52	17
Operating Segments | Petroleum | Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	1	0	1	1
Operating Segments | Nitrogen Fertilizer Segment
Disaggregation of Revenue [Line Items]
Total revenue	183	244	409	467
Operating Segments | Nitrogen Fertilizer Segment | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	183	244	409	467
Operating Segments | Nitrogen Fertilizer Segment | Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Nitrogen Fertilizer Segment | Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Nitrogen Fertilizer Segment | Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	56	61	94	103
Operating Segments | Nitrogen Fertilizer Segment | UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	104	159	268	319
Operating Segments | Nitrogen Fertilizer Segment | Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	7	11	15	20
Operating Segments | Nitrogen Fertilizer Segment | Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	11	10	22	19
Operating Segments | Nitrogen Fertilizer Segment | Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	5	3	10	6
Operating Segments | Nitrogen Fertilizer Segment | Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Nitrogen Fertilizer Segment | Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	0	0	0	0
Other / Elimination
Disaggregation of Revenue [Line Items]
Total revenue	53	32	121	28
Other / Elimination | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	53	32	121	28
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	35	27	83	27
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	18	5	38	1
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) $ in Millions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	7 years 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	3 years
Nitrogen Fertilizer Segment
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2
Nitrogen Fertilizer Segment | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	6 months
Nitrogen Fertilizer Segment | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	1 year

Revenue - Deferred Revenue (Det

Revenue - Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Less:
Less: Current portion of deferred revenue	$ (7)	$ (7)	$ (48)
Nitrogen Fertilizer Segment
Change in Contract with Customer, Liability [Roll Forward]
Balance at beginning of period		48
Add:
New prepay contracts entered into during the period		10
Noncash consideration received as part of the 45Q Transaction		46
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period		(46)
Revenue recognized related to contracts entered into during the period		(10)
Revenue recognized related to noncash consideration		(3)
Other changes	(1)
Balance at end of period	44	44
Less: Current portion of deferred revenue	(7)	(7)
Total long-term deferred revenue	$ 37	$ 37

Derivative Financial Instrume_3

Derivative Financial Instruments and Fair Value Measurements - Outstanding Positions Held (Details) - MBbls MBbls in Thousands	Jun. 30, 2023	Dec. 31, 2022
Forwards | Crude | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	113
Forwards | Crude | Purchase Commitments
Derivative [Line Items]
Outstanding notional buy (sell) positions		373
Swaps | NYMEX Diesel Cracks | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	7,875	0
Swaps | NYMEX RBOB Cracks | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	3,250	0
Swaps | NYMEX 2-1-1 Cracks | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	7,380	0
Futures | Crude | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	50	150
Futures | ULSD | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	75	215
Futures | Soybean | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	278	109

Derivative Financial Instrume_4

Derivative Financial Instruments and Fair Value Measurements - Additional Information (Details) derivative in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)	Jun. 30, 2023 USD ($) derivative	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Collateral under master netting arrangements not offset against the derivatives		$ 9,000,000	$ 7,000,000
Aggregate fair value of our derivative liabilities		$ 0	$ 0
CVRP JV inception	$ 46,000,000
CVRP JV
Derivative [Line Items]
CVRP JV inception	$ 46,000,000
RINs | Purchase Commitments
Derivative [Line Items]
Outstanding positions | derivative		63

Derivative Financial Instrume_5

Derivative Financial Instruments and Fair Value Measurements - Schedule of Realized And Unrealized (Losses) Gains on Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives, net	$ (4)	$ (68)	$ 41	$ (66)
Forwards
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives, net	2	(4)	10	6
Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives, net	0	(49)	29	(48)
Futures
Derivative Instruments, Gain (Loss) [Line Items]
Total (loss) gain on derivatives, net	$ (6)	$ (15)	$ 2	$ (24)

Derivative Financial Instrume_6

Derivative Financial Instruments and Fair Value Measurements - Schedule of Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Prepaid expenses and other current assets
Derivative Assets
Derivative Assets	$ 6	$ 0
Collateral Netting	0	1
Net Value	6	0
Derivative Liabilities
Derivative Liabilities	0	(1)
Other long-term assets
Derivative Assets
Derivative Assets	11	0
Collateral Netting	0	0
Net Value	11	0
Derivative Liabilities
Derivative Liabilities	0	0
Other current liabilities
Derivative Assets
Derivative Assets	0	0
Derivative Liabilities
Derivative Liabilities	(10)	(4)
Collateral Netting	5	0
Net Value	$ (5)	$ (4)

Derivative Financial Instrume_7

Derivative Financial Instruments and Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Fair value measurements
Other liabilities, derivatives	$ (5)	$ (4)
Recurring
Fair value measurements
Total assets	17
Total liabilities	(2,013)	(2,090)
Recurring | Commodity Contract
Fair value measurements
Other liabilities, derivatives		(4)
Recurring | Long-term debt and finance lease obligations
Fair value measurements
Long-term debt and finance lease obligations, net of current portion (long-term debt)	(1,409)	(1,394)
Recurring | RFS Obligation | Other current liabilities
Fair value measurements
Other liabilities, fair value disclosure	(599)	(692)
Recurring | Derivative Financial Instruments, Liabilities
Fair value measurements
Other liabilities, derivatives	(5)
Recurring | Derivative Financial Instruments, Assets
Fair value measurements
Prepaid expenses and other current assets (derivative financial instruments)	6
Other long-term assets (derivative financial instruments)	11
Recurring | Level 1
Fair value measurements
Total assets	0
Total liabilities	0	0
Recurring | Level 1 | Commodity Contract
Fair value measurements
Other liabilities, derivatives		0
Recurring | Level 1 | Long-term debt and finance lease obligations
Fair value measurements
Long-term debt and finance lease obligations, net of current portion (long-term debt)	0	0
Recurring | Level 1 | RFS Obligation | Other current liabilities
Fair value measurements
Other liabilities, fair value disclosure	0	0
Recurring | Level 1 | Derivative Financial Instruments, Liabilities
Fair value measurements
Other liabilities, derivatives	0
Recurring | Level 1 | Derivative Financial Instruments, Assets
Fair value measurements
Prepaid expenses and other current assets (derivative financial instruments)	0
Other long-term assets (derivative financial instruments)	0
Recurring | Level 2
Fair value measurements
Total assets	17
Total liabilities	(2,013)	(2,090)
Recurring | Level 2 | Commodity Contract
Fair value measurements
Other liabilities, derivatives		(4)
Recurring | Level 2 | Long-term debt and finance lease obligations
Fair value measurements
Long-term debt and finance lease obligations, net of current portion (long-term debt)	(1,409)	(1,394)
Recurring | Level 2 | RFS Obligation | Other current liabilities
Fair value measurements
Other liabilities, fair value disclosure	(599)	(692)
Recurring | Level 2 | Derivative Financial Instruments, Liabilities
Fair value measurements
Other liabilities, derivatives	(5)
Recurring | Level 2 | Derivative Financial Instruments, Assets
Fair value measurements
Prepaid expenses and other current assets (derivative financial instruments)	6
Other long-term assets (derivative financial instruments)	11
Recurring | Level 3
Fair value measurements
Total assets	0
Total liabilities	0	0
Recurring | Level 3 | Commodity Contract
Fair value measurements
Other liabilities, derivatives		0
Recurring | Level 3 | Long-term debt and finance lease obligations
Fair value measurements
Long-term debt and finance lease obligations, net of current portion (long-term debt)	0	0
Recurring | Level 3 | RFS Obligation | Other current liabilities
Fair value measurements
Other liabilities, fair value disclosure	0	$ 0
Recurring | Level 3 | Derivative Financial Instruments, Liabilities
Fair value measurements
Other liabilities, derivatives	0
Recurring | Level 3 | Derivative Financial Instruments, Assets
Fair value measurements
Prepaid expenses and other current assets (derivative financial instruments)	0
Other long-term assets (derivative financial instruments)	$ 0

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation
Total share-based compensation expense	$ 6	$ 11	$ 15	$ 36
Phantom Unit Awards | CVR Partners | CVR Partners LTIP
Share-Based Compensation
Total share-based compensation expense	2	(3)	4	11
Incentive Unit Awards
Share-Based Compensation
Total share-based compensation expense	$ 4	$ 14	$ 11	$ 25

Commitments and Contingencies -

Commitments and Contingencies - Crude Oil Supply Agreement (Details)		3 Months Ended		6 Months Ended
	Jun. 28, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Crude Oil Supply Agreement | 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		19%	30%	25%	34%
Gunvor Crude Oil Supply Agreement
Loss Contingencies [Line Items]
Collaborative arrangement, term	24 months
Renewal term of agreement	1 year
Notice of renewal period termination	180 days

Commitment and Contingencies -

Commitment and Contingencies - 45Q Transaction (Details) - CVRP JV - Collaborative Arrangement, Transaction with Party to Collaborative Arrangement and Third Party - CRNF $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Collaborative arrangement, fee threshold per year	$ 15
Fees threshold cap	$ 45

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Loss Contingencies [Line Items]
Expense (benefit) for compliance with RFS	$ 48	$ 135	$ 37	$ 241
RFS obligation	$ 599		$ 599		$ 692

Commitments and Contingencies_3

Commitments and Contingencies - Litigation (Details) $ in Millions	1 Months Ended
	Jul. 31, 2023 petition	Nov. 30, 2022 USD ($)
Subsequent Event
Loss Contingencies [Line Items]
Number of petitions EPA denied | petition	26
Call Option Lawsuits | CVR Energy, CVR Refining And General Partner, CVR Refining Holdings, IEP And Certain Directors And Affiliates
Loss Contingencies [Line Items]
Indemnity insurance, coverage limit | $		$ 50

Commitments and Contingencies_4

Commitments and Contingencies - Environmental, Health, and Safety ("EHS") Matters (Details) - Environmental, Health, and Safety Matters - CRRM - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	May 31, 2023	Jun. 30, 2023
Loss Contingencies [Line Items]
Loss contingency, value of damages sought		$ 6.8
Loss contingency, claims settlement agreement, term	90 days

Business Segments - Additional

Business Segments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable 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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 2,236	$ 3,144	$ 4,523	$ 5,517
Operating income (loss):	224	402	554	623
Interest expense, net	(16)	(23)	(32)	(48)
Other income (expense), net	4	(74)	6	(84)
Income before income tax expense	212	305	528	491
Depreciation and amortization	72	73	141	140
Capital expenditures	48	41	97	91
Total assets	4,217		4,217		$ 4,119
Operating Segments | Petroleum
Segment Reporting Information [Line Items]
Net sales	2,000	2,868	3,993	5,022
Operating income (loss):	171	297	408	427
Depreciation and amortization	45	46	91	93
Capital expenditures	22	19	53	38
Total assets	4,260		4,260		4,354
Operating Segments | Nitrogen Fertilizer Segment
Segment Reporting Information [Line Items]
Net sales	183	244	409	467
Operating income (loss):	67	126	176	230
Depreciation and amortization	20	21	35	42
Capital expenditures	6	9	10	14
Total assets	1,019		1,019		1,100
Other, including intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	53	32	121	28
Operating income (loss):	(14)	(21)	(30)	(34)
Depreciation and amortization	7	6	15	5
Capital expenditures	20	$ 13	34	$ 39
Total assets	$ (1,062)		$ (1,062)		$ (1,335)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Schedule of Cash Flows Related to Income Taxes, Interest, Leases, Capital Expenditures, and Deferred Financing Costs Included in Accounts Payable, and Non-Cash Dividends (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$ 39	$ 60
Cash paid for interest	48	49
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	9	9
Operating cash flows from finance leases	2	2
Financing cash flows from finance leases	3	3
Noncash investing and financing activities:
Change in capital expenditures included in accounts payable	(3)	3
Change in turnaround expenditures included in accounts payable	$ 1	$ 0

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 751	$ 510
Restricted cash	7	7
Cash, cash equivalents and restricted cash	$ 758	$ 517	$ 900	$ 517

Related Party Transactions - Ex

Related Party Transactions - Expenses from Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Related Party Transaction [Line Items]
Net sales	$ 2,236	$ 3,144	$ 4,523	$ 5,517
Dividends			101	40
Related Party | CVRP JV CO Contract
Related Party Transaction [Line Items]
Net sales	1	0	2	0
Related Party | Enable Joint Venture Transportation Agreement
Related Party Transaction [Line Items]
Purchases from related parties:	3	2	6	5
Related Party | Midway Joint Venture Agreement
Related Party Transaction [Line Items]
Purchases from related parties:	5	5	10	11
Dividends
Related Party Transaction [Line Items]
Dividends	$ 36	$ 28	$ 71	$ 28

Related Party Transactions - Di

Related Party Transactions - Dividends to CVR Energy Stockholders (Details) - USD ($) $ / shares in Units, $ in Millions								3 Months Ended	6 Months Ended	12 Months Ended
	Aug. 21, 2023	Jul. 31, 2023	May 22, 2023	Mar. 13, 2023	Nov. 21, 2022	Aug. 22, 2022	May 23, 2022	Mar. 31, 2022	Jun. 30, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Quarterly dividends per share (in dollars per share)			$ 0.50	$ 0.50	$ 0.40	$ 0.40	$ 0.40	$ 0	$ 1	$ 1.20
Quarterly dividends paid			$ 50	$ 50	$ 40	$ 40	$ 40		$ 101	$ 121
Special dividend declared (in dollars per share)					$ 1	$ 2.60				$ 3.60
Special dividends					$ 101	$ 261				$ 362
Subsequent Event
Related Party Transaction [Line Items]
Special dividend declared (in dollars per share)		$ 1
Special dividends		$ 101
Dividends declared per share (in dollars per share)		$ 0.50
Dividends, cash		$ 50
IEP | Forecast
Related Party Transaction [Line Items]
Proceeds from dividends received	$ 36
Proceeds from special dividend received	$ 71
Public Stockholders
Related Party Transaction [Line Items]
Quarterly dividends paid			15	15	12	12	12		29	35
Special dividends					29	76				106
IEP
Related Party Transaction [Line Items]
Quarterly dividends paid			$ 36	$ 36	28	28	$ 28		$ 71	85
Special dividends					$ 71	$ 185				$ 256

Related Party Transactions - _2

Related Party Transactions - Distributions to CVR Partners' Unitholders (Details) - USD ($) $ / shares in Units, $ in Millions									6 Months Ended	12 Months Ended
	Aug. 21, 2023	Jul. 31, 2023	May 22, 2023	Mar. 13, 2023	Nov. 21, 2022	Aug. 22, 2022	May 23, 2022	Mar. 14, 2022	Jun. 30, 2023	Dec. 31, 2022
CVR Partners
Related Party Transaction [Line Items]
Quarterly distributions per common unit (in dollars per share)			$ 10.43	$ 10.50	$ 1.77	$ 10.05	$ 2.26	$ 5.24	$ 20.93	$ 19.32
Quarterly distributions paid			$ 110	$ 111	$ 19	$ 106	$ 24	$ 56	$ 221	$ 205
CVR Partners | Subsequent Event
Related Party Transaction [Line Items]
Distributions declared (in dollars per share)		$ 4.14
Distributions declared		$ 44
CVR Partners | CVR Energy
Related Party Transaction [Line Items]
Quarterly distributions paid			41	41	7	39	9	20	81	75
CVR Partners | Public Unitholders
Related Party Transaction [Line Items]
Quarterly distributions paid			$ 70	$ 70	$ 12	$ 67	$ 15	$ 36	$ 140	$ 130
CVR Energy | Forecast
Related Party Transaction [Line Items]
Proceeds from distribution	$ 16