CVR Energy (CVI) 10-Q 30 Jul 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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	2024
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents (including $48 and $45, respectively, of consolidated variable interest entity (“VIE”))	$ 586	$ 581
Reserved funds for debt payment	0	598
Accounts receivable, net (including $48 and $42, respectively, of VIE)	298	286
Inventories (including $81 and $69, respectively, of VIE)	543	604
Prepaid expenses (including $6 and $8, respectively, of VIE)	36	59
Other current assets (including $1 and $1, respectively, of VIE)	29	51
Total current assets	1,492	2,179
Property, plant, and equipment, net (including $728 and $761, respectively, of VIE)	2,192	2,221
Other long-term assets (including $48 and $48, respectively, of VIE)	319	307
Total assets	4,003	4,707
Current liabilities:
Current portion of long-term debt and finance lease obligations	8	606
Accounts payable (including $30 and $39, respectively, of VIE)	523	530
Other current liabilities (including $29 and $37, respectively, of VIE)	491	546
Total current liabilities	1,022	1,682
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion (including $548 and $547, respectively, of VIE)	1,576	1,579
Deferred income taxes	278	327
Other long-term liabilities (including $49 and $50, respectively, of VIE)	86	81
Total long-term liabilities	1,940	1,987
Commitments and contingencies (See Note 13)
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, 2024 and December 31, 2023, respectively	1	1
Additional paid-in-capital	1,508	1,508
Accumulated deficit	(658)	(660)
Treasury stock, 98,610 shares at cost	(2)	(2)
Total CVR stockholders’ equity	849	847
Noncontrolling interest	192	191
Total equity	1,041	1,038
Total liabilities and equity	$ 4,003	$ 4,707

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 586	$ 581
Accounts receivable, net	298	286
Inventories	543	604
Prepaid expenses	36	59
Other current assets	29	51
Property, plant and equipment, net	2,192	2,221
Other long-term assets	319	307
Current liabilities:
Accounts payable, current	523	530
Other current liabilities	491	546
Long-term liabilities:
Long-term debt and finance lease obligations	1,576	1,579
Other long-term liabilities	$ 86	$ 81
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	$ 48	$ 45
Accounts receivable, net	48	42
Inventories	81	69
Prepaid expenses	6	8
Other current assets	1	1
Property, plant and equipment, net	728	761
Other long-term assets	48	48
Current liabilities:
Accounts payable, current	30	39
Other current liabilities	29	37
Long-term liabilities:
Long-term debt and finance lease obligations	548	547
Other long-term liabilities	$ 49	$ 50

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,967	$ 2,236	$ 3,829	$ 4,523
Operating costs and expenses:
Cost of materials and other	1,667	1,743	3,130	3,423
Direct operating expenses (exclusive of depreciation and amortization)	173	165	337	334
Depreciation and amortization	70	71	145	137
Cost of sales	1,910	1,979	3,612	3,894
Selling, general and administrative expenses (exclusive of depreciation and amortization)	28	32	63	71
Depreciation and amortization	2	1	4	4
Loss on asset disposal	0	0	1	0
Operating income	27	224	149	554
Other (expense) income:
Interest expense, net	(19)	(16)	(39)	(32)
Other income, net	4	4	8	6
Income before income tax expense	12	212	118	528
Income tax (benefit) expense	(26)	44	(10)	101
Net income	38	168	128	427
Less: Net income attributable to noncontrolling interest	17	38	25	102
Net income attributable to CVR Energy stockholders	$ 21	$ 130	$ 103	$ 325
Basic earnings per share (in dollars per share)	$ 0.21	$ 1.29	$ 1.02	$ 3.23
Diluted earnings per share (in dollars per share)	$ 0.21	$ 1.29	$ 1.02	$ 3.23
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	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Treasury Stock	Noncontrolling Interest
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
Beginning balance (in shares) at Dec. 31, 2023			100,629,209
Beginning balance at Dec. 31, 2023	1,038	847	$ 1	1,508	(660)	(2)	191
Increase (Decrease) in Stockholders' Equity
Net income	90	82			82		8
Dividends paid to CVR Energy stockholders	(50)	(50)			(50)
Distributions from CVR Partners to its public unitholders	(11)						(11)
Ending balance (in shares) at Mar. 31, 2024			100,629,209
Ending balance at Mar. 31, 2024	1,067	879	$ 1	1,508	(628)	(2)	188
Beginning balance (in shares) at Dec. 31, 2023			100,629,209
Beginning balance at Dec. 31, 2023	1,038	847	$ 1	1,508	(660)	(2)	191
Increase (Decrease) in Stockholders' Equity
Net income	128
Ending balance (in shares) at Jun. 30, 2024			100,629,209
Ending balance at Jun. 30, 2024	1,041	849	$ 1	1,508	(658)	(2)	192
Beginning balance (in shares) at Mar. 31, 2024			100,629,209
Beginning balance at Mar. 31, 2024	1,067	879	$ 1	1,508	(628)	(2)	188
Increase (Decrease) in Stockholders' Equity
Net income	38	21			21		17
Dividends paid to CVR Energy stockholders	(50)	(50)			(50)
Distributions from CVR Partners to its public unitholders	(13)						(13)
Other	(1)	(1)			(1)
Ending balance (in shares) at Jun. 30, 2024			100,629,209
Ending balance at Jun. 30, 2024	$ 1,041	$ 849	$ 1	$ 1,508	$ (658)	$ (2)	$ 192

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 128	$ 427
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	149	141
Deferred income taxes	(48)	28
Loss on asset disposal	1	0
Share-based compensation	10	15
Unrealized loss (gain) on derivatives, net	7	(13)
Income from equity method investments	(7)	(5)
Return from equity method investment earnings	7	5
Other items	2	1
Changes in assets and liabilities:
Current assets and liabilities	10	21
Other long-term assets and liabilities	(1)	(6)
Net cash provided by operating activities	258	614
Cash flows from investing activities:
Capital expenditures	(90)	(100)
Turnaround expenditures	(44)	(50)
Return of equity method investment	4	20
Proceeds from sale of assets	1	0
Net cash used in investing activities	(129)	(130)
Cash flows from financing activities:
Principal payments on senior secured notes	(600)	0
Dividends to CVR Energy’s stockholders	(101)	(101)
Distributions to CVR Partners’ noncontrolling interest holders	(24)	(140)
Other financing activities	(4)	(2)
Net cash used in financing activities	(729)	(243)
Net (decrease) increase in cash, cash equivalents, reserved funds and restricted cash	(600)	241
Cash, cash equivalents, reserved funds and restricted cash, beginning of period	1,186	517
Cash, cash equivalents and restricted cash, end of period	$ 586	$ 758

Organization and Nature of Busi

Organization and Nature of Business	6 Months Ended
	Jun. 30, 2024
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 (“NYSE”) under the symbol “CVI”. Icahn Enterprises L.P. and its affiliates (“IEP”) owned approximately 66% of the Company’s outstanding common stock as of June 30, 2024. CVR Partners, LP Interest Holders - As of June 30, 2024, 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, which held a non-economic general partner interest in CVR Partners as of June 30, 2024. The noncontrolling interest reflected on the Condensed Consolidated Balance Sheets of CVR is only impacted by the results of and distributions from CVR Partners. Subsequent Events The Company evaluated subsequent events, if any, that would require an adjustment to the Company’s condensed consolidated financial statements or require disclosure in the notes to the condensed consolidated financial statements through the date of issuance of the condensed consolidated financial statements. Where applicable, the notes to these condensed consolidated financial statements have been updated to discuss all significant subsequent events which have occurred.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
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, 2023 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity (“VIE”). As the 100% owner of the general partner of CVR Partners, the Company has the sole ability to direct the activities that most significantly impact the economic performance of CVR Partners and is considered the primary beneficiary. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary for fair presentation of the financial position and results of operations of the Company for the periods presented. Such adjustments are of a normal recurring nature, unless otherwise disclosed. The condensed consolidated financial statements are prepared in conformity with GAAP, which requires management to make certain estimates and assumptions that affect the reported amounts and disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Results of operations and cash flows for the interim periods presented are not necessarily indicative of the results that will be realized for the year ending December 31, 2024 or any other interim or annual period. Recent Accounting Pronouncements - Accounting Standards Issued But Not Yet Implemented In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures, which requires enhanced income tax disclosures that reflect how operations and related tax risks, as well as how tax planning and operational opportunities, affect the tax rate and prospects for future cash flows. This standard is effective for the Company’s annual period beginning January 1, 2025 with early adoption permitted. The Company is evaluating the effects of adopting this new accounting guidance on its disclosures but does not currently expect adoption will have a material impact on the Company’s consolidated financial statements. The Company does not intend to early adopt this ASU. In November 2023, FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures , which includes requirements for more robust disclosures of significant segment expenses and measures of a segment’s profit and loss used in assessing performance. This standard is effective for the Company’s annual period beginning January 1, 2024 and interim periods beginning January 1, 2025 and should be applied retrospectively to all comparative periods. Early adoption is permitted. While the Company continues to evaluate the effects of adopting this new accounting guidance, it currently expects additional disclosures will be included for its annual and interim reporting periods beginning December 31, 2024.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	(3) Inventories Inventories consisted of the following: (in millions) June 30, 2024 December 31, 2023 Finished goods $ 249 $ 260 Raw materials 158 226 In-process inventories 34 21 Parts, supplies and other 102 97 Total inventories $ 543 $ 604

Property, Plant, and Equipment

Property, Plant, and Equipment	6 Months Ended
	Jun. 30, 2024
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, 2024 December 31, 2023 Machinery and equipment $ 4,404 $ 4,287 Buildings and improvements 143 124 ROU finance leases 81 81 Land and improvements 74 74 Furniture and fixtures 30 33 Construction in progress 136 193 Other 16 15 4,884 4,807 Less: Accumulated depreciation and amortization (2,692) (2,586) Total property, plant, and equipment, net $ 2,192 $ 2,221 For the three and six months ended June 30, 2024, depreciation and amortization expense related to property, plant, and equipment was $58 million and $114 million, respectively, compared to $55 million and $105 million for the three and six months ended June 30, 2023, respectively. For the three and six months ended June 30, 2024, capitalized interest was $2 million and $3 million, respectively, compared to $2 million and $4 million for the three and six months ended June 30, 2023, respectively. During the six months ended June 30, 2024, the Company did not identify the existence of an impairment indicator for our long-lived asset groups as outlined under the FASB Accounting Standards Codification (“ASC”) Topic 360, Property, Plant, and Equipment .

Equity Method Investments

Equity Method Investments	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	(5) Equity Method Investments We have variable interest in certain entities for which we have applied the VIE model under FASB ASC Topic 810, Consolidation and determined that these entities are variable interest entities. While we concluded we are not the primary beneficiary of these entities, we do have significant influence over their operating and financial policies and, therefore, applied the equity method of accounting for the respective investments. These investments are presented within Other long-term assets on our condensed consolidated financial statements: • CVR-CapturePoint Parent, LLC (“CVRP JV” ) - As part of a series of agreements entered into by our subsidiaries with unaffiliated parties with the objective to monetize certain tax credits under Section 45Q of the Internal Revenue Code of 1986 (“45Q Transaction”), we received a 50% interest in CVRP JV in connection with a modification to a carbon oxide contract (“CO Contract”) with a customer. • 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 80,000 barrels per day that is connected to the Wynnewood Refinery. The remaining interest in Enable JV is owned by Energy Transfer LP. • 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, 2023 $ 25 $ 5 $ 70 $ 100 Cash distributions (1) (3) (1) (2) (6) Equity income — 1 3 4 Balance at March 31, 2024 22 5 71 98 Cash distributions (1) (1) (3) (5) Equity income — 1 2 3 Balance at June 30, 2024 $ 21 $ 5 $ 70 $ 96 (1) Includes a $2 million distribution to CVR Partners subsidiaries related to CVRP JV exceeding certain carbon oxide capture and sequestration milestones during 2023.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	(6) Leases Balance Sheet Summary as of June 30, 2024 and December 31, 2023 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, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 (in millions) Operating Leases Finance Leases Operating Leases Finance Leases ROU assets, net Pipelines and storage $ 10 $ 16 $ 12 $ 17 Railcars 15 — 12 — Real estate and other 32 12 29 14 Lease liability Pipelines and storage 9 27 12 28 Railcars 15 — 12 — Real estate and other 30 14 25 16 Lease Expense Summary for the Three and Six Months Ended June 30, 2024 and 2023 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, 2024 and 2023, we recognized lease expense comprised of the following components: Three Months Ended Six Months Ended (in millions) 2024 2023 2024 2023 Operating lease expense $ 5 $ 5 $ 9 $ 9 Finance lease expense: Amortization of ROU asset 2 2 3 3 Interest expense on lease liability 1 1 2 2 Short-term lease expense 3 2 6 5 The Company has entered into the following material lease commitments that have not yet commenced: • Coffeyville Resources Nitrogen Fertilizer, LLC (“CRNF”), a subsidiary of CVR Partners, is party to an On-Site Product Supply Agreement with Messer LLC. Based on terms outlined in this agreement, the Company expects the lease to be classified as a finance lease with an estimated $20 million to $25 million being capitalized upon lease commencement when the item is placed in service, which is currently expected to occur in the second half of 2024. Refer to Part II, Item 8, Note 6 (“Leases”) of our 2023 Form 10-K for further information.
Leases	(6) Leases Balance Sheet Summary as of June 30, 2024 and December 31, 2023 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, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 (in millions) Operating Leases Finance Leases Operating Leases Finance Leases ROU assets, net Pipelines and storage $ 10 $ 16 $ 12 $ 17 Railcars 15 — 12 — Real estate and other 32 12 29 14 Lease liability Pipelines and storage 9 27 12 28 Railcars 15 — 12 — Real estate and other 30 14 25 16 Lease Expense Summary for the Three and Six Months Ended June 30, 2024 and 2023 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, 2024 and 2023, we recognized lease expense comprised of the following components: Three Months Ended Six Months Ended (in millions) 2024 2023 2024 2023 Operating lease expense $ 5 $ 5 $ 9 $ 9 Finance lease expense: Amortization of ROU asset 2 2 3 3 Interest expense on lease liability 1 1 2 2 Short-term lease expense 3 2 6 5 The Company has entered into the following material lease commitments that have not yet commenced: • Coffeyville Resources Nitrogen Fertilizer, LLC (“CRNF”), a subsidiary of CVR Partners, is party to an On-Site Product Supply Agreement with Messer LLC. Based on terms outlined in this agreement, the Company expects the lease to be classified as a finance lease with an estimated $20 million to $25 million being capitalized upon lease commencement when the item is placed in service, which is currently expected to occur in the second half of 2024. Refer to Part II, Item 8, Note 6 (“Leases”) of our 2023 Form 10-K for further information.

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	(7) Other Current Liabilities Other current liabilities were as follows: (in millions) June 30, 2024 December 31, 2023 Accrued Renewable Fuel Standard (“RFS”) obligation $ 312 $ 329 Accrued taxes other than income taxes 48 47 Personnel accruals 34 51 Accrued interest 32 26 Share-based compensation 19 13 Operating lease liabilities 15 14 Accrued income taxes 8 25 Deferred revenue 8 16 Derivatives 2 — Other accrued expenses and liabilities 13 25 Total other current liabilities $ 491 $ 546

Long-Term Debt and Finance Leas

Long-Term Debt and Finance Lease Obligations	6 Months Ended
	Jun. 30, 2024
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, 2024 December 31, 2023 CVR Energy: 5.75% Senior Notes, due February 2028 $ 400 $ 400 8.50% Senior Notes, due January 2029 600 600 Unamortized debt issuance costs (5) (5) Total CVR Energy debt 995 995 Petroleum Segment: Finance lease obligations, net of current portion 33 37 Total Petroleum Segment finance lease obligations, net of current portion 33 37 Nitrogen Fertilizer Segment: 6.125% Senior Secured Notes, due June 2028 550 550 Unamortized debt issuance costs (2) (3) Total Nitrogen Fertilizer Segment debt 548 547 Total long-term debt and finance lease obligations, net of current portion 1,576 1,579 Current portion of long-term debt and finance lease obligations 8 606 Total long-term debt and finance lease obligations, including current portion $ 1,584 $ 2,185 Credit Agreements (in millions) Total Available Borrowing Capacity Amount Borrowed as of June 30, 2024 Outstanding Letters of Credit Available Capacity as of June 30, 2024 Maturity Date CVR Energy: CVR Energy’s Amended and Restated ABL Credit Agreement (“CVR Energy ABL”) $ 275 $ — $ 24 $ 251 June 30, 2027 Nitrogen Fertilizer Segment: CVR Partners’ Credit Agreement (“CVR Partners ABL”) $ 50 $ — $ — $ 50 September 26, 2028 CVR Energy 2029 Notes - On December 21, 2023, CVR Energy completed the issuance of $600 million in aggregate principal amount of 8.50% Senior Notes, due 2029 (the “2029 Notes”). Interest on the 2029 Notes is payable semi-annually in arrears on February 15 and August 15 each year, commencing on February 15, 2024. The 2029 Notes mature on January 15, 2029, unless earlier redeemed or purchased. See Part II, Item 8 of the 2023 Form 10-K for further details of the 2029 Notes. In relation to the issuance of the 2029 Notes, the Company received $598 million of net cash proceeds, net of underwriting fees and certain other third-party fees and expenses associated with the offering. These proceeds were reserved for the payment of the Company’s 5.25% Senior Notes, due 2025 (the “2025 Notes”) on February 15, 2024, and were presented in Reserved funds for debt payment on our Condensed Consolidated Balance Sheet as of December 31, 2023. 2025 Notes - On December 21, 2023, the Company delivered a notice of redemption to the holders of its 2025 Notes that all outstanding amounts of the 2025 Notes, plus any accrued and unpaid interest to the redemption date, would be redeemed on February 15, 2024. As such, the outstanding balance of the $600 million principal amount of the 2025 Notes was classified as short-term as of December 31, 2023. On February 15, 2024, CVR Energy redeemed all of the outstanding 2025 Notes, at par, and settled accrued interest of approximately $16 million through the date of redemption. As a result of this transaction, the Company recognized in Interest expense, net a $1 million loss on extinguishment of debt on our Condensed Consolidated Statements of Operations for the three months ended March 31, 2024, which consisted of the write-off of unamortized deferred financing costs. Covenant Compliance The Company and its subsidiaries were in compliance with all covenants under their respective debt instruments as of June 30, 2024.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
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, 2024 2023 (in millions) Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Gasoline $ 944 $ — $ — $ 944 $ 1,092 $ — $ — $ 1,092 Distillates (2) 735 — 26 761 830 — 35 865 Ammonia — 22 — 22 — 56 — 56 UAN — 89 — 89 — 104 — 104 Urea products — 8 — 8 — 7 — 7 Freight revenue (3) 5 9 — 14 5 11 — 16 Other products (4) 39 5 13 57 48 5 18 71 Revenue from product sales 1,723 133 39 1,895 1,975 183 53 2,211 Crude oil sales 72 — — 72 24 — — 24 Other revenue — — — — 1 — — 1 Total revenue $ 1,795 $ 133 $ 39 $ 1,967 $ 2,000 $ 183 $ 53 $ 2,236 Six Months Ended June 30, 2024 2023 (in millions) Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Gasoline $ 1,831 $ — $ — $ 1,831 $ 2,102 $ — $ — $ 2,102 Distillates (2) 1,502 — 36 1,538 1,749 — 83 1,832 Ammonia — 59 — 59 — 94 — 94 UAN — 164 — 164 — 268 — 268 Urea products — 14 — 14 — 15 — 15 Freight revenue (3) 9 16 — 25 8 22 — 30 Other products (4) 88 8 15 111 81 10 38 129 Revenue from product sales 3,430 261 51 3,742 3,940 409 121 4,470 Crude oil sales 86 — — 86 52 — — 52 Other revenue 1 — — 1 1 — — 1 Total revenue $ 3,517 $ 261 $ 51 $ 3,829 $ 3,993 $ 409 $ 121 $ 4,523 (1) The Petroleum Segment may incur broker commissions or transportation costs in connection with 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. (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 are reimbursed by customers. An offsetting expense for freight is included in Cost of materials and other. (4) Other products 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 products consists of sales of (i) nitric acid and (ii) carbon oxide, including sales made 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 through April 2030. 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, 2024, these contracts have a remaining duration of less than three years. As of June 30, 2024, the Nitrogen Fertilizer Segment had approximately $32 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Nitrogen Fertilizer Segment expects to recognize $8 million of these performance obligations as revenue by the end of 2024, $11 million during 2025, an additional $10 million in 2026, and the remaining balance in 2027. Contract Balances The following table provides the balance sheet location and amounts of deferred revenue from contracts with customers for the Nitrogen Fertilizer Segment: Contract Balance Type Balance Sheet Location June 30, 2024 December 31, 2023 Deferred revenue Other current liabilities $ 8 $ 16 Long-term deferred revenue Other long-term liabilities 30 33 During the six months ended June 30, 2024 and 2023, the Company recognized revenue of $13 million and $46 million, respectively, that was included in the deferred revenue balances as of December 31, 2023 and December 31, 2022, respectively.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	(10) Derivative Financial Instruments The following outlines the net notional buy (sell) position of our commodity derivative instruments held as of June 30, 2024 and December 31, 2023: (in thousands of barrels) Commodity June 30, 2024 December 31, 2023 Forwards Crude 274 247 Swaps NYMEX Diesel Cracks (1) — (6,780) Swaps NYMEX RBOB Cracks — (1,275) Swaps NYMEX 2-1-1 Cracks — (3,030) Futures Crude (50) — (1) As of June 30, 2024, the Company held offsetting NYMEX Diesel Crack commodity buy and sell positions of approximately 5 million barrels. The following outlines the balances of our commodity derivative instruments after the effects of contract netting and allocation of collateral and their classifications on our Condensed Consolidated Balance Sheets. Refer to Note 11 (“Fair Value Measurements”) for the gross amounts of the commodity derivative instruments (before the effects of contract netting and allocation of collateral): June 30, 2024 December 31, 2023 (in millions) Assets Liabilities Assets Liabilities Other current assets $ 19 $ — $ 24 $ — Other long-term assets 2 — 1 — Other current liabilities — 2 — — The following table represents CVR Energy’s incurred realized and unrealized net gains (losses) from derivative activities, recorded in Cost of materials and other on the Condensed Consolidated Statements of Operations: Three Months Ended Six Months Ended (in millions) 2024 2023 2024 2023 Commodity derivative instruments $ 23 $ (4) $ 5 $ 41

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	(11) Fair Value Measurements Assets and liabilities measured at fair value on a recurring basis The following tables set forth information about the assets and liabilities measured at fair value on a recurring basis, by input level, as of June 30, 2024 and December 31, 2023. Such amounts are presented on a gross basis, before the effects of netting and allocation of collateral. The Company elected to offset the fair value amounts recognized for derivative assets and liabilities executed with the same counterparty under a master netting arrangement, including fair value amounts recognized for the right to reclaim or the obligation to return cash collateral. June 30, 2024 Fair Value Hierarchy Total gross fair value Contract netting Collateral netting (1) Net value (in millions) Level 1 Level 2 Level 3 Assets Commodity derivative instruments $ — $ 25 $ — $ 25 $ (5) $ — $ 20 Liabilities Commodity derivative instruments — 7 — 7 (5) — 2 RFS — 312 — 312 — — 312 December 31, 2023 Fair Value Hierarchy Total gross fair value Contract netting Collateral netting (1) Net value (in millions) Level 1 Level 2 Level 3 Assets Commodity derivative instruments $ — $ 31 $ — $ 31 $ (6) $ — $ 25 Liabilities Commodity derivative instruments — 6 — 6 (6) — — RFS — 329 — 329 — — 329 (1) At June 30, 2024 and December 31, 2023, the Company had $5 million and $13 million of collateral under master netting arrangements not offset against the derivatives within Other current assets on the Condensed Consolidated Balance Sheets, respectively, primarily related to initial margin requirements. The Petroleum Segment’s commodity derivative contracts consist of exchange traded futures, commodity price swaps, and sale and purchase forwards that are measured at fair value using a market approach based on available broker quoted market prices of identical or similar instruments. Similarly, RFS obligations are measured at fair value using a market approach based on available broker quoted market RIN spot prices for each specific or closest vintage year. The Company had no transfers of assets or liabilities between any of the above levels during the six months ended June 30, 2024 and year ended December 31, 2023. Assets and liabilities measured at fair value on a nonrecurring basis CVR Partners performed a nonrecurring fair value measurement of the equity interest received as part of the 45Q Transaction in January 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. In January 2023, 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. There are no other assets or liabilities that were measured at fair value on a nonrecurring basis for the periods presented. Assets and liabilities not required to be measured at fair value CVR Energy holds cash equivalents which consist primarily of bank time deposits with maturities of 90 days or less. Cash and cash equivalents and reserved funds had carrying and fair values of $586 million and $1.2 billion at June 30, 2024 and December 31, 2023, respectively, and are classified as Level 1 in the fair value hierarchy. Long-term debt of $1.5 billion and $2.1 billion at June 30, 2024 and December 31, 2023, respectively, had estimated fair values of $1.5 billion and $2.1 billion, respectively, and are classified as Level 2 in the fair value hierarchy. Other short-term financial assets and liabilities, which consist of restricted cash, accounts receivable, accounts payable, and operating and finance lease obligations, are carried at cost on the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 and approximate their estimated fair values.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	(12) Share-Based Compensation A summary of compensation expense during the three and six months ended June 30, 2024 and 2023 is presented below: Three Months Ended Six Months Ended (in millions) 2024 2023 2024 2023 CVR Partners - Phantom Unit Awards $ 1 $ 2 $ 2 $ 4 Incentive Unit Awards — 4 8 11 Total share-based compensation expense $ 1 $ 6 $ 10 $ 15

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(13) Commitments and Contingencies 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. Crude Oil Supply Agreement The Petroleum Segment has a crude oil supply agreement with Gunvor USA LLC (“Gunvor”), which commenced on January 1, 2024 (as amended, the “Gunvor Crude Oil Supply Agreement”), pursuant to which Gunvor supplies the Petroleum Segment with certain crude oil and intermediation logistics helping to reduce the amount of inventory held at certain locations and mitigate crude oil pricing risk. The Gunvor Crude Oil Supply Agreement replaced a similar agreement with a different supplier that expired on December 31, 2023. Volumes contracted under these agreements, as a percentage of the total crude oil purchases (in barrels), were approximately 20% and 19% for the three months ended June 30, 2024 and 2023, respectively, and 21% and 25% for the six months ended June 30, 2024 and 2023, respectively. The Gunvor Crude Oil Supply Agreement, which currently extends through January 31, 2026, is subject to automatic one-year renewals following the expiration of the initial term in the absence of either party providing 180 days’ notice of termination. As part of the transition of the crude oil supply agreement from Vitol to Gunvor, on December 31, 2023, the Company purchased the final inventory remaining under the crude oil supply agreement with Vitol and sold it to Gunvor on January 1, 2024. The inventory purchased from Vitol was included within Inventories on the Condensed Consolidated Balance Sheets as of December 31, 2023. 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 of their 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 Standard Coffeyville Resources Refining & Marketing, LLC (“CRRM”) and Wynnewood Refining Company, LLC (“WRC”, and together with CRRM, the “obligated-party subsidiaries”) are subject to the RFS implemented by the U.S. Environmental Protection Agency (the “EPA”), which requires obligated parties 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 with renewable fuels and, unless their RFS obligations are waived or exempted, must either purchase RINs or obtain waiver credits for cellulosic biofuels 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 an expense of $30 million and an expense of $48 million for the three months ended June 30, 2024 and 2023, respectively, and a benefit of $21 million and an expense of $37 million for the six months ended June 30, 2024 and 2023, respectively, for their compliance with the RFS (based on the 2020 through 2024 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 for each specific or closest vintage year. As of June 30, 2024 and December 31, 2023, the Company’s obligated-party subsidiaries’ RFS positions were approximately $312 million and $329 million, respectively, and are recorded in Other current liabilities in the Condensed Consolidated Balance Sheets. Litigation Call Option Coverage Case – The lawsuits involving the Company and certain of its affiliates (the “Call Defendants”) and the Company’s primary and excess insurers (the “Insurers”) relating to insurance coverage for settlement by the Call Defendants of the consolidated lawsuits filed by purported former unitholders of CVR Refining, LP (“CVR Refining”) on behalf of themselves and an alleged class of similarly situated unitholders relating to the Company’s exercise of the call option under the CVR Refining Amended and Restated Agreement of Limited Partnership remain pending. In the lawsuit filed by the Call Defendants against the Insurers alleging breach of contract and breach of the implied covenant of good faith and fair dealing against the Insurers in the Superior Court of the State of Delaware, motion practice continues and the Call Defendants’ motion to amend their complaint remains pending. Briefing is ongoing in the Call Defendants’ appeal of summary judgment granted in favor of the Insurers by the 434 th Judicial District Court of Fort Bend County, Texas in the Insurer’s separate lawsuit against the Call Defendants seeking determination that the Insurers owe no indemnity coverage for the settlement under policies with coverage limits of $50 million, with oral argument expected in 2025. While these cases remain pending, the Company does not expect their outcome have a material adverse impact on the Company’s financial position, results of operations, or cash flows. RFS Disputes – In May 2024, the EPA and certain biofuels groups filed petitions for a writ of certiorari to the Supreme Court of the United States (“SCOTUS”) seeking review of a decision of a panel of the United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) vacating the EPA’s denials of small refinery exemptions (“SREs”) under the RFS for certain small refineries, including those for WRC for the 2017 to 2021 compliance periods (the “2022 Denials”), finding that such denials, which were based on a new standard announced by the EPA in December 2021 and retroactively applied, were impermissibly retroactive and that the EPA’s interpretation of the SRE provisions was contrary to law and arbitrary and capricious as applied to the Fifth Circuit petitioners’ SRE petitions. WRC expects to file an opposition to these petitions for a writ of certiorari in the third quarter of 2024. Regarding WRC’s SRE petition for the 2022 compliance period which was denied by the EPA in July 2023 largely on the same grounds as the 2022 Denials, WRC’s obligations under the RFS for the 2022 compliance period remain stayed and its lawsuit filed against the EPA relating to such denial remains in abeyance pending the outcome of the lawsuit filed by certain other small refineries against the EPA in the United States District Court for the District of Columbia (the “DC Circuit”) related to the 2022 Denials. While the DC Circuit held oral argument in April 2024 on this case as well as the case filed by WRC against the EPA for the damages it sustained as a result of the EPA’s late grant of its SRE petition for the 2018 compliance period (which SRE petition was later denied by the EPA in the 2022 Denials), the DC Circuit has yet to rule. In July 2024, WRC filed suit in the United States District Court for the Southern District of Texas seeking, among other relief, a declaration that the Administrator of the EPA violated the CAA by failing to timely rule on WRC’s SRE petition for the 2023 compliance period within 90 days following receipt and compelling the Administrator to rule on WRC’s 2023 SRE petition by an expeditious date certain, which suit remains pending. In May 2024, the DC Circuit rejected challenges by WRC and other parties and upheld the EPA’s final rules issued in June 2022 and June 2023 establishing RVOs for 2020 to 2022. As these matters are in various stages, 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.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Business Segments	(14) Business Segments CVR Energy’s revenues are primarily derived from the two reportable segments: Petroleum and Nitrogen Fertilizer. 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 renewable fuels transactions, 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 June 30, 2024 2023 (in millions) Petroleum Segment Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment Nitrogen Fertilizer Segment Other / Elimination Consolidated Net sales $ 1,792 $ 133 $ 42 $ 1,967 $ 1,995 $ 183 $ 58 $ 2,236 Inter-segment fees and sales 3 — (3) — 5 — (5) — Total sales 1,795 133 39 1,967 2,000 183 53 2,236 Operating income (loss) $ 10 $ 34 $ (17) $ 27 $ 171 $ 67 $ (14) $ 224 Interest expense, net (19) (16) Other income, net 4 4 Income before income tax expense $ 12 $ 212 Depreciation and amortization $ 43 $ 20 $ 9 $ 72 $ 45 $ 20 $ 7 $ 72 Capital expenditures (1) 33 5 3 41 22 6 20 48 Six Months Ended June 30, 2024 2023 (in millions) Petroleum Segment Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment Nitrogen Fertilizer Segment Other / Elimination Consolidated Net sales $ 3,510 $ 261 $ 58 $ 3,829 $ 3,982 $ 409 $ 132 $ 4,523 Inter-segment fees and sales 7 — (7) — 11 — (11) — Total net sales 3,517 261 51 3,829 3,993 409 121 4,523 Operating income (loss) $ 128 $ 54 $ (33) $ 149 $ 408 $ 176 $ (30) $ 554 Interest expense, net (39) (32) Other income, net 8 6 Income before income tax expense $ 118 $ 528 Depreciation and amortization $ 92 $ 39 $ 18 $ 149 $ 91 $ 35 $ 15 $ 141 Capital expenditures (1) 69 10 13 92 53 10 34 97 The following table summarizes total assets by segment: (in millions) June 30, 2024 December 31, 2023 Petroleum $ 2,944 $ 2,978 Nitrogen Fertilizer 960 975 Other, including intersegment eliminations 99 754 Total assets $ 4,003 $ 4,707 (1) Capital expenditures are shown exclusive of capitalized turnaround expenditures.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	(15) Supplemental Cash Flow Information Cash flows related to income taxes, interest, leases, capital expenditures and deferred financing costs included in accounts payable were as follows: Six Months Ended (in millions) 2024 2023 Supplemental disclosures: Cash paid for income taxes, net of refunds $ 60 $ 39 Cash paid for interest 55 48 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) 2 (3) Change in turnaround expenditures included in accounts payable (2) 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, 2024 December 31, 2023 Cash and cash equivalents $ 586 $ 581 Reserved funds (1) — 598 Restricted cash (2) — 7 Cash, cash equivalents, reserved funds and restricted cash $ 586 $ 1,186 (1) Funds reserved for the redemption of the 2025 Notes in February 2024. See Note 8 (“Long-Term Debt and Finance Lease Obligations”) for further discussion. (2) Restricted funds were released and paid in February 2024.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	(16) Related Party Transactions Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2024 and 2023 is summarized below: Three Months Ended Six Months Ended (in millions) 2024 2023 2024 2023 Sales to related parties: CVRP JV CO Contract (1) $ 1 $ 1 $ 1 $ 2 Purchases from related parties: Enable Joint Venture Transportation Agreement 3 3 6 6 Midway Joint Venture Agreement (2) 7 5 13 10 Payments: Dividends (3) 33 36 67 71 (1) Sales to related parties, included in Net sales in our Condensed Consolidated Statements of Operations, 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 Statements of Operations, represents reimbursements for crude oil transportation services incurred on the Midway JV through the intermediary purchasing agent. (3) See below for a summary of the dividends paid to IEP during the six months ended June 30, 2024 and year ended December 31, 2023. Dividends to CVR Energy Stockholders Dividends, if any, including the payment, amount and timing thereof, are determined at the discretion of 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 2024 and 2023 (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 2023 - 4th Quarter March 11, 2024 $ 0.50 $ 17 $ 33 $ 50 2024 - 1st Quarter May 20, 2024 0.50 17 33 50 Total 2024 quarterly dividends $ 1.00 $ 34 $ 67 $ 101 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 2023 - 2nd Quarter August 21, 2023 0.50 15 36 50 2023 - 3rd Quarter November 20, 2023 0.50 17 33 50 Total 2023 quarterly dividends $ 2.00 $ 61 $ 140 $ 201 Special Dividends Paid ( in millions ) Related Period Date Paid Special Dividends Public Stockholders IEP Total 2023 - 2nd Quarter August 21, 2023 $ 1.00 $ 29 $ 71 $ 101 2023 - 3rd Quarter November 20, 2023 1.50 51 100 151 Total 2023 special dividends $ 2.50 $ 80 $ 171 $ 251 For the second quarter of 2024, the Company, upon approval by the Board on July 29, 2024, declared a cash dividend of $0.50 per share, or $50 million, which is payable August 19, 2024 to shareholders of record as of August 12, 2024. Of this amount, IEP will receive $33 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 CVR Partners’ unitholders, including amounts received by the Company, during 2024 and 2023 (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 2023 - 4th Quarter March 11, 2024 $ 1.68 $ 11 $ 7 $ 18 2024 - 1st Quarter May 20, 2024 1.92 13 7 20 Total 2024 quarterly distributions $ 3.60 $ 24 $ 14 $ 38 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 2023 - 2nd Quarter August 21, 2023 4.14 28 16 44 2023 - 3rd Quarter November 20, 2023 1.55 10 6 16 Total 2023 quarterly distributions $ 26.62 $ 178 $ 104 $ 281 For the second quarter of 2024, CVR Partners, upon approval by the UAN GP Board on July 29, 2024, declared a distribution of $1.90 per common unit, or $20 million, which is payable August 19, 2024 to unitholders of record as of August 12, 2024. Of this amount, CVR Energy will receive approximately $7 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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 21	$ 130	$ 103	$ 325

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
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, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Subsequent Events	Subsequent Events The Company evaluated subsequent events, if any, that would require an adjustment to the Company’s condensed consolidated financial statements or require disclosure in the notes to the condensed consolidated financial statements through the date of issuance of the condensed consolidated financial statements. Where applicable, the notes to these condensed consolidated financial statements have been updated to discuss all significant subsequent events which have occurred.
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, 2023 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity (“VIE”). As the 100% owner of the general partner of CVR Partners, the Company has the sole ability to direct the activities that most significantly impact the economic performance of CVR Partners and is considered the primary beneficiary. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary for fair presentation of the financial position and results of operations of the Company for the periods presented. Such adjustments are of a normal recurring nature, unless otherwise disclosed. The condensed consolidated financial statements are prepared in conformity with GAAP, which requires management to make certain estimates and assumptions that affect the reported amounts and disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Results of operations and cash flows for the interim periods presented are not necessarily indicative of the results that will be realized for the year ending December 31, 2024 or any other interim or annual period.
Recent Accounting Pronouncements - Accounting Standards Issued But Not Yet Implemented	Recent Accounting Pronouncements - Accounting Standards Issued But Not Yet Implemented In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures, which requires enhanced income tax disclosures that reflect how operations and related tax risks, as well as how tax planning and operational opportunities, affect the tax rate and prospects for future cash flows. This standard is effective for the Company’s annual period beginning January 1, 2025 with early adoption permitted. The Company is evaluating the effects of adopting this new accounting guidance on its disclosures but does not currently expect adoption will have a material impact on the Company’s consolidated financial statements. The Company does not intend to early adopt this ASU. In November 2023, FASB issued ASU 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures , which includes requirements for more robust disclosures of significant segment expenses and measures of a segment’s profit and loss used in assessing performance. This standard is effective for the Company’s annual period beginning January 1, 2024 and interim periods beginning January 1, 2025 and should be applied retrospectively to all comparative periods. Early adoption is permitted. While the Company continues to evaluate the effects of adopting this new accounting guidance, it currently expects additional disclosures will be included for its annual and interim reporting periods beginning December 31, 2024.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	Inventories consisted of the following: (in millions) June 30, 2024 December 31, 2023 Finished goods $ 249 $ 260 Raw materials 158 226 In-process inventories 34 21 Parts, supplies and other 102 97 Total inventories $ 543 $ 604

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant, and equipment consisted of the following: (in millions) June 30, 2024 December 31, 2023 Machinery and equipment $ 4,404 $ 4,287 Buildings and improvements 143 124 ROU finance leases 81 81 Land and improvements 74 74 Furniture and fixtures 30 33 Construction in progress 136 193 Other 16 15 4,884 4,807 Less: Accumulated depreciation and amortization (2,692) (2,586) Total property, plant, and equipment, net $ 2,192 $ 2,221

Equity Method Investments (Tabl

Equity Method Investments (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2023 $ 25 $ 5 $ 70 $ 100 Cash distributions (1) (3) (1) (2) (6) Equity income — 1 3 4 Balance at March 31, 2024 22 5 71 98 Cash distributions (1) (1) (3) (5) Equity income — 1 2 3 Balance at June 30, 2024 $ 21 $ 5 $ 70 $ 96 (1) Includes a $2 million distribution to CVR Partners subsidiaries related to CVRP JV exceeding certain carbon oxide capture and sequestration milestones during 2023.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule 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, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 (in millions) Operating Leases Finance Leases Operating Leases Finance Leases ROU assets, net Pipelines and storage $ 10 $ 16 $ 12 $ 17 Railcars 15 — 12 — Real estate and other 32 12 29 14 Lease liability Pipelines and storage 9 27 12 28 Railcars 15 — 12 — Real estate and other 30 14 25 16
Schedule of Lease Expense, Lease Terms, and Discount Rates	For the three and six months ended June 30, 2024 and 2023, we recognized lease expense comprised of the following components: Three Months Ended Six Months Ended (in millions) 2024 2023 2024 2023 Operating lease expense $ 5 $ 5 $ 9 $ 9 Finance lease expense: Amortization of ROU asset 2 2 3 3 Interest expense on lease liability 1 1 2 2 Short-term lease expense 3 2 6 5

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities were as follows: (in millions) June 30, 2024 December 31, 2023 Accrued Renewable Fuel Standard (“RFS”) obligation $ 312 $ 329 Accrued taxes other than income taxes 48 47 Personnel accruals 34 51 Accrued interest 32 26 Share-based compensation 19 13 Operating lease liabilities 15 14 Accrued income taxes 8 25 Deferred revenue 8 16 Derivatives 2 — Other accrued expenses and liabilities 13 25 Total other current liabilities $ 491 $ 546

Long-Term Debt and Finance Le_2

Long-Term Debt and Finance Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 December 31, 2023 CVR Energy: 5.75% Senior Notes, due February 2028 $ 400 $ 400 8.50% Senior Notes, due January 2029 600 600 Unamortized debt issuance costs (5) (5) Total CVR Energy debt 995 995 Petroleum Segment: Finance lease obligations, net of current portion 33 37 Total Petroleum Segment finance lease obligations, net of current portion 33 37 Nitrogen Fertilizer Segment: 6.125% Senior Secured Notes, due June 2028 550 550 Unamortized debt issuance costs (2) (3) Total Nitrogen Fertilizer Segment debt 548 547 Total long-term debt and finance lease obligations, net of current portion 1,576 1,579 Current portion of long-term debt and finance lease obligations 8 606 Total long-term debt and finance lease obligations, including current portion $ 1,584 $ 2,185 Credit Agreements (in millions) Total Available Borrowing Capacity Amount Borrowed as of June 30, 2024 Outstanding Letters of Credit Available Capacity as of June 30, 2024 Maturity Date CVR Energy: CVR Energy’s Amended and Restated ABL Credit Agreement (“CVR Energy ABL”) $ 275 $ — $ 24 $ 251 June 30, 2027 Nitrogen Fertilizer Segment: CVR Partners’ Credit Agreement (“CVR Partners ABL”) $ 50 $ — $ — $ 50 September 26, 2028

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 2023 (in millions) Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Gasoline $ 944 $ — $ — $ 944 $ 1,092 $ — $ — $ 1,092 Distillates (2) 735 — 26 761 830 — 35 865 Ammonia — 22 — 22 — 56 — 56 UAN — 89 — 89 — 104 — 104 Urea products — 8 — 8 — 7 — 7 Freight revenue (3) 5 9 — 14 5 11 — 16 Other products (4) 39 5 13 57 48 5 18 71 Revenue from product sales 1,723 133 39 1,895 1,975 183 53 2,211 Crude oil sales 72 — — 72 24 — — 24 Other revenue — — — — 1 — — 1 Total revenue $ 1,795 $ 133 $ 39 $ 1,967 $ 2,000 $ 183 $ 53 $ 2,236 Six Months Ended June 30, 2024 2023 (in millions) Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment (1) Nitrogen Fertilizer Segment Other / Elimination Consolidated Gasoline $ 1,831 $ — $ — $ 1,831 $ 2,102 $ — $ — $ 2,102 Distillates (2) 1,502 — 36 1,538 1,749 — 83 1,832 Ammonia — 59 — 59 — 94 — 94 UAN — 164 — 164 — 268 — 268 Urea products — 14 — 14 — 15 — 15 Freight revenue (3) 9 16 — 25 8 22 — 30 Other products (4) 88 8 15 111 81 10 38 129 Revenue from product sales 3,430 261 51 3,742 3,940 409 121 4,470 Crude oil sales 86 — — 86 52 — — 52 Other revenue 1 — — 1 1 — — 1 Total revenue $ 3,517 $ 261 $ 51 $ 3,829 $ 3,993 $ 409 $ 121 $ 4,523 (1) The Petroleum Segment may incur broker commissions or transportation costs in connection with 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. (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 are reimbursed by customers. An offsetting expense for freight is included in Cost of materials and other. (4) Other products 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 products consists of sales of (i) nitric acid and (ii) carbon oxide, including sales made 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 through April 2030. 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.
Schedule of Deferred Revenue from Contracts with Customers	The following table provides the balance sheet location and amounts of deferred revenue from contracts with customers for the Nitrogen Fertilizer Segment: Contract Balance Type Balance Sheet Location June 30, 2024 December 31, 2023 Deferred revenue Other current liabilities $ 8 $ 16 Long-term deferred revenue Other long-term liabilities 30 33

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and December 31, 2023: (in thousands of barrels) Commodity June 30, 2024 December 31, 2023 Forwards Crude 274 247 Swaps NYMEX Diesel Cracks (1) — (6,780) Swaps NYMEX RBOB Cracks — (1,275) Swaps NYMEX 2-1-1 Cracks — (3,030) Futures Crude (50) — (1) As of June 30, 2024, the Company held offsetting NYMEX Diesel Crack commodity buy and sell positions of approximately 5 million barrels.
Schedule of Derivative Offsetting Assets	The following outlines the balances of our commodity derivative instruments after the effects of contract netting and allocation of collateral and their classifications on our Condensed Consolidated Balance Sheets. Refer to Note 11 (“Fair Value Measurements”) for the gross amounts of the commodity derivative instruments (before the effects of contract netting and allocation of collateral): June 30, 2024 December 31, 2023 (in millions) Assets Liabilities Assets Liabilities Other current assets $ 19 $ — $ 24 $ — Other long-term assets 2 — 1 — Other current liabilities — 2 — —
Schedule of Derivative Offsetting Liabilities	The following outlines the balances of our commodity derivative instruments after the effects of contract netting and allocation of collateral and their classifications on our Condensed Consolidated Balance Sheets. Refer to Note 11 (“Fair Value Measurements”) for the gross amounts of the commodity derivative instruments (before the effects of contract netting and allocation of collateral): June 30, 2024 December 31, 2023 (in millions) Assets Liabilities Assets Liabilities Other current assets $ 19 $ — $ 24 $ — Other long-term assets 2 — 1 — Other current liabilities — 2 — —
Schedule of Net (Losses) Gains on Derivatives	The following table represents CVR Energy’s incurred realized and unrealized net gains (losses) from derivative activities, recorded in Cost of materials and other on the Condensed Consolidated Statements of Operations: Three Months Ended Six Months Ended (in millions) 2024 2023 2024 2023 Commodity derivative instruments $ 23 $ (4) $ 5 $ 41

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables set forth information about the assets and liabilities measured at fair value on a recurring basis, by input level, as of June 30, 2024 and December 31, 2023. Such amounts are presented on a gross basis, before the effects of netting and allocation of collateral. The Company elected to offset the fair value amounts recognized for derivative assets and liabilities executed with the same counterparty under a master netting arrangement, including fair value amounts recognized for the right to reclaim or the obligation to return cash collateral. June 30, 2024 Fair Value Hierarchy Total gross fair value Contract netting Collateral netting (1) Net value (in millions) Level 1 Level 2 Level 3 Assets Commodity derivative instruments $ — $ 25 $ — $ 25 $ (5) $ — $ 20 Liabilities Commodity derivative instruments — 7 — 7 (5) — 2 RFS — 312 — 312 — — 312 December 31, 2023 Fair Value Hierarchy Total gross fair value Contract netting Collateral netting (1) Net value (in millions) Level 1 Level 2 Level 3 Assets Commodity derivative instruments $ — $ 31 $ — $ 31 $ (6) $ — $ 25 Liabilities Commodity derivative instruments — 6 — 6 (6) — — RFS — 329 — 329 — — 329 (1)

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023 is presented below: Three Months Ended Six Months Ended (in millions) 2024 2023 2024 2023 CVR Partners - Phantom Unit Awards $ 1 $ 2 $ 2 $ 4 Incentive Unit Awards — 4 8 11 Total share-based compensation expense $ 1 $ 6 $ 10 $ 15

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 2023 (in millions) Petroleum Segment Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment Nitrogen Fertilizer Segment Other / Elimination Consolidated Net sales $ 1,792 $ 133 $ 42 $ 1,967 $ 1,995 $ 183 $ 58 $ 2,236 Inter-segment fees and sales 3 — (3) — 5 — (5) — Total sales 1,795 133 39 1,967 2,000 183 53 2,236 Operating income (loss) $ 10 $ 34 $ (17) $ 27 $ 171 $ 67 $ (14) $ 224 Interest expense, net (19) (16) Other income, net 4 4 Income before income tax expense $ 12 $ 212 Depreciation and amortization $ 43 $ 20 $ 9 $ 72 $ 45 $ 20 $ 7 $ 72 Capital expenditures (1) 33 5 3 41 22 6 20 48 Six Months Ended June 30, 2024 2023 (in millions) Petroleum Segment Nitrogen Fertilizer Segment Other / Elimination Consolidated Petroleum Segment Nitrogen Fertilizer Segment Other / Elimination Consolidated Net sales $ 3,510 $ 261 $ 58 $ 3,829 $ 3,982 $ 409 $ 132 $ 4,523 Inter-segment fees and sales 7 — (7) — 11 — (11) — Total net sales 3,517 261 51 3,829 3,993 409 121 4,523 Operating income (loss) $ 128 $ 54 $ (33) $ 149 $ 408 $ 176 $ (30) $ 554 Interest expense, net (39) (32) Other income, net 8 6 Income before income tax expense $ 118 $ 528 Depreciation and amortization $ 92 $ 39 $ 18 $ 149 $ 91 $ 35 $ 15 $ 141 Capital expenditures (1) 69 10 13 92 53 10 34 97 The following table summarizes total assets by segment: (in millions) June 30, 2024 December 31, 2023 Petroleum $ 2,944 $ 2,978 Nitrogen Fertilizer 960 975 Other, including intersegment eliminations 99 754 Total assets $ 4,003 $ 4,707 (1) Capital expenditures are shown exclusive of capitalized turnaround expenditures.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2024
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, capital expenditures and deferred financing costs included in accounts payable were as follows: Six Months Ended (in millions) 2024 2023 Supplemental disclosures: Cash paid for income taxes, net of refunds $ 60 $ 39 Cash paid for interest 55 48 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) 2 (3) Change in turnaround expenditures included in accounts payable (2) 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, 2024 December 31, 2023 Cash and cash equivalents $ 586 $ 581 Reserved funds (1) — 598 Restricted cash (2) — 7 Cash, cash equivalents, reserved funds and restricted cash $ 586 $ 1,186 (1) Funds reserved for the redemption of the 2025 Notes in February 2024. See Note 8 (“Long-Term Debt and Finance Lease Obligations”) for further discussion. (2) Restricted funds were released and paid in February 2024.
Schedule of Restricted Cash	Cash, cash equivalents and restricted cash consisted of the following: (in millions) June 30, 2024 December 31, 2023 Cash and cash equivalents $ 586 $ 581 Reserved funds (1) — 598 Restricted cash (2) — 7 Cash, cash equivalents, reserved funds and restricted cash $ 586 $ 1,186 (1) Funds reserved for the redemption of the 2025 Notes in February 2024. See Note 8 (“Long-Term Debt and Finance Lease Obligations”) for further discussion. (2) Restricted funds were released and paid in February 2024.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023 is summarized below: Three Months Ended Six Months Ended (in millions) 2024 2023 2024 2023 Sales to related parties: CVRP JV CO Contract (1) $ 1 $ 1 $ 1 $ 2 Purchases from related parties: Enable Joint Venture Transportation Agreement 3 3 6 6 Midway Joint Venture Agreement (2) 7 5 13 10 Payments: Dividends (3) 33 36 67 71 (1) Sales to related parties, included in Net sales in our Condensed Consolidated Statements of Operations, 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 Statements of Operations, represents reimbursements for crude oil transportation services incurred on the Midway JV through the intermediary purchasing agent. (3) See below for a summary of the dividends paid to IEP during the six months ended June 30, 2024 and year ended December 31, 2023.
Schedule of Dividends Paid	The following tables present quarterly and special dividends paid to the Company’s stockholders, including IEP, during 2024 and 2023 (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 2023 - 4th Quarter March 11, 2024 $ 0.50 $ 17 $ 33 $ 50 2024 - 1st Quarter May 20, 2024 0.50 17 33 50 Total 2024 quarterly dividends $ 1.00 $ 34 $ 67 $ 101 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 2023 - 2nd Quarter August 21, 2023 0.50 15 36 50 2023 - 3rd Quarter November 20, 2023 0.50 17 33 50 Total 2023 quarterly dividends $ 2.00 $ 61 $ 140 $ 201 Special Dividends Paid ( in millions ) Related Period Date Paid Special Dividends Public Stockholders IEP Total 2023 - 2nd Quarter August 21, 2023 $ 1.00 $ 29 $ 71 $ 101 2023 - 3rd Quarter November 20, 2023 1.50 51 100 151 Total 2023 special dividends $ 2.50 $ 80 $ 171 $ 251
Schedule of Distributions Paid	The following tables present quarterly distributions paid by CVR Partners to CVR Partners’ unitholders, including amounts received by the Company, during 2024 and 2023 (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 2023 - 4th Quarter March 11, 2024 $ 1.68 $ 11 $ 7 $ 18 2024 - 1st Quarter May 20, 2024 1.92 13 7 20 Total 2024 quarterly distributions $ 3.60 $ 24 $ 14 $ 38 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 2023 - 2nd Quarter August 21, 2023 4.14 28 16 44 2023 - 3rd Quarter November 20, 2023 1.55 10 6 16 Total 2023 quarterly distributions $ 26.62 $ 178 $ 104 $ 281

Organization and Nature of Bu_2

Organization and Nature of Business (Details)	6 Months Ended
	Jun. 30, 2024
CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of interest held by the public	63%
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	66%

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ownership percentage	100%

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 249	$ 260
Raw materials	158	226
In-process inventories	34	21
Parts, supplies and other	102	97
Total inventories	$ 543	$ 604

Property, Plant, and Equipmen_2

Property, Plant, and Equipment - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
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	$ 81
Property, plant and equipment, gross	4,884	4,807
Less: Accumulated depreciation and amortization	(2,692)	(2,586)
Total property, plant, and equipment, net	2,192	2,221
Machinery and equipment
Property, Plant, and Equipment
Property, plant and equipment, gross	4,404	4,287
Buildings and improvements
Property, Plant, and Equipment
Property, plant and equipment, gross	143	124
Land and improvements
Property, Plant, and Equipment
Property, plant and equipment, gross	74	74
Furniture and fixtures
Property, Plant, and Equipment
Property, plant and equipment, gross	30	33
Construction in progress
Property, Plant, and Equipment
Property, plant and equipment, gross	136	193
Other
Property, Plant, and Equipment
Property, plant and equipment, gross	$ 16	$ 15

Property, Plant, and Equipmen_3

Property, Plant, and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant, and Equipment
Depreciation and amortization expenses	$ 72	$ 72	$ 149	$ 141
Interest costs capitalized	2	2	3	4
Property, Plant and Equipment
Property, Plant, and Equipment
Depreciation and amortization expenses	$ 58	$ 55	$ 114	$ 105

Equity Method Investments - Add

Equity Method Investments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 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	80,000
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

Equity Method Investments - Sch

Equity Method Investments - Schedule of Equity Method Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023
Equity Method Investments [Roll Forward]
Balance at beginning of period	$ 98	$ 100	$ 100
Cash distributions	(5)	(6)
Equity income	3	4	7	$ 5
Balance at end of period	96	98	96
CVRP JV
Equity Method Investments [Roll Forward]
Balance at beginning of period	22	25	25
Cash distributions	(1)	(3)
Equity income	0	0
Balance at end of period	21	22	21
Cash distribution for CVRP JV		2
Enable JV
Equity Method Investments [Roll Forward]
Balance at beginning of period	5	5	5
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	70	70
Cash distributions	(3)	(2)
Equity income	2	3
Balance at end of period	$ 70	$ 71	$ 70

Leases - Balance Sheet Summary

Leases - Balance Sheet Summary (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Pipelines and storage
Operating Leases
ROU assets, net	$ 10	$ 12
Lease liability	9	12
Finance Leases
ROU assets, net	16	17
Lease liability	27	28
Railcars
Operating Leases
ROU assets, net	15	12
Lease liability	15	12
Finance Leases
ROU assets, net	0	0
Lease liability	0	0
Real estate and other
Operating Leases
ROU assets, net	32	29
Lease liability	30	25
Finance Leases
ROU assets, net	12	14
Lease liability	$ 14	$ 16

Leases - Lease Expense (Details

Leases - Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease expense	$ 5	$ 5	$ 9	$ 9
Finance lease expense:
Amortization of ROU asset	2	2	3	3
Interest expense on lease liability	1	1	2	2
Short-term lease expense	$ 3	$ 2	$ 6	$ 5

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	Jun. 30, 2024 USD ($)
Minimum
Lessee, Lease, Description [Line Items]
Unrecorded unconditional purchase obligation	$ 20
Maximum
Lessee, Lease, Description [Line Items]
Unrecorded unconditional purchase obligation	$ 25

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Accrued Renewable Fuel Standard (“RFS”) obligation	$ 312	$ 329
Accrued taxes other than income taxes	48	47
Personnel accruals	34	51
Accrued interest	32	26
Share-based compensation	$ 19	$ 13
Operating lease, liability, current, statement of financial position [extensible list]	Total other current liabilities	Total other current liabilities
Operating lease liabilities	$ 15	$ 14
Accrued income taxes	8	25
Deferred revenue	8	16
Derivatives	2	0
Other accrued expenses and liabilities	13	25
Total other current liabilities	$ 491	$ 546

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, 2024	Dec. 31, 2023
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	$ 1,576	$ 1,579
Current portion of finance lease obligations	8	606
Total long-term debt and finance lease obligations, including current portion	1,584	2,185
Petroleum Segment
Debt Instrument [Line Items]
Finance lease obligations, net of current portion	33	37
Total long-term debt and finance lease obligations, net of current portion	33	37
Nitrogen Fertilizer Segment
Debt Instrument [Line Items]
Unamortized debt issuance costs	(2)	(3)
Total debt	$ 548	547
6.125% Senior Secured Notes, due June 2028 | Senior Notes | Nitrogen Fertilizer Segment
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 Energy
Debt Instrument [Line Items]
Unamortized debt issuance costs	(5)	(5)
Total debt	$ 995	995
CVR Energy | 5.75% Senior Notes, due February 2028 | Senior Notes
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 Energy | $8.50% Senior Notes, due January 2029 | Senior Notes
Debt Instrument [Line Items]
Stated interest rate	8.50%
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount	$ 600	$ 600

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, 2024 USD ($)
CVR Energy’s Amended and Restated ABL Credit Agreement (“CVR Energy ABL”) | CVR Energy
Line of Credit Facility [Line Items]
Total Available Borrowing Capacity	$ 275
Amount Borrowed	0
Outstanding Letters of Credit	24
Available Capacity	251
CVR Partners’ Credit Agreement (“CVR Partners ABL”) | Nitrogen Fertilizer Segment
Line of Credit Facility [Line Items]
Total Available Borrowing Capacity	50
Amount Borrowed	0
Outstanding Letters of Credit	0
Available Capacity	$ 50

Long-Term Debt and Finance Le_5

Long-Term Debt and Finance Lease Obligations - CVR Energy (Details) - Senior Notes - CVR Energy - USD ($)			3 Months Ended
	Feb. 15, 2024	Dec. 21, 2023	Mar. 31, 2024	Dec. 31, 2023
$8.50% Senior Notes, due January 2029
Line of Credit Facility [Line Items]
Aggregate principal amount of private offering		$ 600,000,000
Stated interest rate		8.50%
Proceeds from notes payable		$ 598,000,000
5.25% Senior Notes, due February 2025
Line of Credit Facility [Line Items]
Aggregate principal amount of private offering				$ 600,000,000
Stated interest rate	5.25%
Repayments of senior debt	$ 16,000,000
Loss on extinguishment of debt			$ 1,000,000

Revenue - Revenue Disaggregated

Revenue - Revenue Disaggregated by Major Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,967	$ 2,236	$ 3,829	$ 4,523
Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,895	2,211	3,742	4,470
Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	944	1,092	1,831	2,102
Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	761	865	1,538	1,832
Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	22	56	59	94
UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	89	104	164	268
Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	8	7	14	15
Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	14	16	25	30
Other products
Disaggregation of Revenue [Line Items]
Revenue from product sales	57	71	111	129
Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	72	24	86	52
Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	0	1	1	1
Petroleum Segment
Disaggregation of Revenue [Line Items]
Total revenue	1,792	1,995	3,510	3,982
Nitrogen Fertilizer Segment
Disaggregation of Revenue [Line Items]
Total revenue	133	183	261	409
Operating Segments | Petroleum Segment
Disaggregation of Revenue [Line Items]
Total revenue	1,795	2,000	3,517	3,993
Operating Segments | Petroleum Segment | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,723	1,975	3,430	3,940
Operating Segments | Petroleum Segment | Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	944	1,092	1,831	2,102
Operating Segments | Petroleum Segment | Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	735	830	1,502	1,749
Operating Segments | Petroleum Segment | Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Petroleum Segment | UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Petroleum Segment | Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments | Petroleum Segment | Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	5	5	9	8
Operating Segments | Petroleum Segment | Other products
Disaggregation of Revenue [Line Items]
Revenue from product sales	39	48	88	81
Operating Segments | Petroleum Segment | Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	72	24	86	52
Operating Segments | Petroleum Segment | Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	0	1	1	1
Operating Segments | Nitrogen Fertilizer Segment
Disaggregation of Revenue [Line Items]
Total revenue	133	183	261	409
Operating Segments | Nitrogen Fertilizer Segment | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	133	183	261	409
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	22	56	59	94
Operating Segments | Nitrogen Fertilizer Segment | UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	89	104	164	268
Operating Segments | Nitrogen Fertilizer Segment | Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	8	7	14	15
Operating Segments | Nitrogen Fertilizer Segment | Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	9	11	16	22
Operating Segments | Nitrogen Fertilizer Segment | Other products
Disaggregation of Revenue [Line Items]
Revenue from product sales	5	5	8	10
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	39	53	51	121
Other / Elimination | Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	39	53	51	121
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	26	35	36	83
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 | 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 products
Disaggregation of Revenue [Line Items]
Revenue from product sales	13	18	15	38
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, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
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	$ 32
Nitrogen Fertilizer Segment | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	6 months
Remaining performance obligation	$ 8
Nitrogen Fertilizer Segment | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	1 year
Remaining performance obligation	$ 11
Nitrogen Fertilizer Segment | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	1 year
Remaining performance obligation	$ 10

Revenue - Revenue from Contract

Revenue - Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Schedule of Contract with Customer, Liability, Activity [Line Items]
Deferred revenue	$ 8	$ 16
Nitrogen Fertilizer Segment
Schedule of Contract with Customer, Liability, Activity [Line Items]
Deferred revenue	8	16
Long-term deferred revenue	$ 30	$ 33

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Recognized revenue	$ 13	$ 46

Derivative Financial Instrume_3

Derivative Financial Instruments - Schedule of Outstanding Positions Held (Details) MBbls in Thousands, MMBbls in Millions	Jun. 30, 2024 MBbls MMBbls	Dec. 31, 2023 MBbls
NYMEX Diesel Cracks
Derivative [Line Items]
Outstanding notional buy (sell) positions | MMBbls	(5)
Forwards | Crude | Purchase Commitments
Derivative [Line Items]
Outstanding notional buy (sell) positions	(274)	(247)
Swaps | NYMEX Diesel Cracks | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	0	(6,780)
Swaps | NYMEX RBOB Cracks | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	0	(1,275)
Swaps | NYMEX 2-1-1 Cracks | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	0	(3,030)
Futures | Crude | Sell Position
Derivative [Line Items]
Outstanding notional buy (sell) positions	(50)	0

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Other current assets
Assets
Derivative assets	$ 19	$ 24
Derivative liabilities	0	0
Other long-term assets
Assets
Derivative assets	2	1
Derivative liabilities	0	0
Other current liabilities
Assets
Derivative assets	0	0
Derivative liabilities	$ 2	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Gains (Losses) on Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commodity derivative instruments
Derivative Instruments, Gain (Loss) [Line Items]
Commodity derivative instruments	$ 23	$ (4)	$ 5	$ 41

Derivative Financial Instrume_6

Derivative Financial Instruments - Additional Information (Details)	Jun. 30, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Aggregate fair value of derivative liabilities	$ 2,000,000
Fair value of collateral for derivative liabilities	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Liabilities
Derivate asset, subject to master netting arrangement, collateral, obligation to return security not offset	$ 5	$ 13
Commodity derivative instruments
Assets
Derivative assets	25	31
Contract netting	(5)	(6)
Collateral netting	0	0
Net value	20	25
Liabilities
Derivative liabilities	7	6
Contract netting	(5)	(6)
Collateral netting	0	0
Net value	2	0
Commodity derivative instruments | Level 1
Assets
Derivative assets	0	0
Liabilities
Derivative liabilities	0	0
Commodity derivative instruments | Level 2
Assets
Derivative assets	25	31
Liabilities
Derivative liabilities	7	6
Commodity derivative instruments | Level 3
Assets
Derivative assets	0	0
Liabilities
Derivative liabilities	0	0
RFS
Liabilities
Derivative liabilities	312	329
Contract netting	0	0
Collateral netting	0	0
Net value	312	329
RFS | Level 1
Liabilities
Derivative liabilities	0	0
RFS | Level 2
Liabilities
Derivative liabilities	312	329
RFS | Level 3
Liabilities
Derivative liabilities	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended
	Jan. 31, 2023	Jun. 30, 2024	Dec. 31, 2023
Fair value measurements
Cash, cash equivalents, and reserved funds, carrying value		$ 586	$ 1,200
Long-term debt		1,500	2,100
Level 1
Fair value measurements
Cash, cash equivalents, and reserved funds, fair value		586	1,200
Level 2
Fair value measurements
Long-term debt, fair value		$ 1,500	$ 2,100
CVRP JV
Fair value measurements
CVR Partners estimated fair value of consideration	$ 46

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation
Total share-based compensation expense	$ 1	$ 6	$ 10	$ 15
CVR Partners - Phantom Unit Awards | CVR Partners | CVR Partners Long Term Incentive Plan
Share-Based Compensation
Total share-based compensation expense	1	2	2	4
Incentive Unit Awards
Share-Based Compensation
Total share-based compensation expense	$ 0	$ 4	$ 8	$ 11

Commitments and Contingencies -

Commitments and Contingencies - Crude Oil Supply Agreement (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
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	20%	19%	21%	25%
Gunvor Crude Oil Supply Agreement
Loss Contingencies [Line Items]
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, 2024 USD ($)
Loss Contingencies [Line Items]
Collaborative arrangement, fee threshold per year	$ 15
Fees threshold cap	$ 45

Commitments and Contingencies_2

Commitments and Contingencies - Renewable Fuel Standard (Details) - Petroleum Segment - Environmental, Health, and Safety Matters - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Loss Contingencies [Line Items]
Expense (benefit) for compliance with RFS	$ 30	$ 48	$ (21)	$ 37
RFS obligation	$ 312		$ 312		$ 329

Commitments and Contingencies_3

Commitments and Contingencies - Litigation (Details) $ in Millions	1 Months Ended
	Dec. 31, 2022 USD ($)
Call Option Lawsuits
Loss Contingencies [Line Items]
Indemnity insurance, coverage limit	$ 50

Business Segments - Additional

Business Segments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Business Segments - Schedule of

Business Segments - Schedule of Operating Results and Capital Expenditures by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total net sales	$ 1,967	$ 2,236	$ 3,829	$ 4,523
Operating income (loss)	27	224	149	554
Interest expense, net	(19)	(16)	(39)	(32)
Other income, net	4	4	8	6
Income before income tax expense	12	212	118	528
Depreciation and amortization	72	72	149	141
Capital expenditures	41	48	92	97
Total assets	4,003		4,003		$ 4,707
Petroleum Segment
Segment Reporting Information [Line Items]
Total net sales	1,792	1,995	3,510	3,982
Nitrogen Fertilizer Segment
Segment Reporting Information [Line Items]
Total net sales	133	183	261	409
Operating Segments | Petroleum Segment
Segment Reporting Information [Line Items]
Total net sales	1,795	2,000	3,517	3,993
Operating income (loss)	10	171	128	408
Depreciation and amortization	43	45	92	91
Capital expenditures	33	22	69	53
Total assets	2,944		2,944		2,978
Operating Segments | Nitrogen Fertilizer Segment
Segment Reporting Information [Line Items]
Total net sales	133	183	261	409
Operating income (loss)	34	67	54	176
Depreciation and amortization	20	20	39	35
Capital expenditures	5	6	10	10
Total assets	960		960		975
Other / Elimination
Segment Reporting Information [Line Items]
Total net sales	39	53	51	121
Capital expenditures	3	20	13	34
Total assets	99		99		$ 754
Inter-segment fees and sales
Segment Reporting Information [Line Items]
Total net sales	(3)	(5)	(7)	(11)
Inter-segment fees and sales | Petroleum Segment
Segment Reporting Information [Line Items]
Total net sales	(3)	(5)	(7)	(11)
Inter-segment fees and sales | Nitrogen Fertilizer Segment
Segment Reporting Information [Line Items]
Total net sales	0	0	0	0
Other / Elimination
Segment Reporting Information [Line Items]
Total net sales	42	58	58	132
Operating income (loss)	(17)	(14)	(33)	(30)
Depreciation and amortization	$ 9	$ 7	$ 18	$ 15

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, 2024	Jun. 30, 2023
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$ 60	$ 39
Cash paid for interest	55	48
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	2	(3)
Change in turnaround expenditures included in accounts payable	$ (2)	$ 1

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 586	$ 581
Reserved funds	0	598
Restricted cash	0	7
Cash, cash equivalents, reserved funds and restricted cash	$ 586	$ 1,186	$ 758	$ 517

Related Party Transactions - Ex

Related Party Transactions - Expenses from Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Related Party Transaction [Line Items]
Sales to related parties:	$ 1,967	$ 2,236	$ 3,829	$ 4,523
Dividends			101	101
Related Party | CVRP JV CO Contract
Related Party Transaction [Line Items]
Sales to related parties:	1	1	1	2
Related Party | Enable Joint Venture Transportation Agreement
Related Party Transaction [Line Items]
Purchases from related parties:	3	3	6	6
Related Party | Midway Joint Venture Agreement
Related Party Transaction [Line Items]
Purchases from related parties:	7	5	13	10
Dividends
Related Party Transaction [Line Items]
Dividends	$ 33	$ 36	$ 67	$ 71

Related Party Transactions - Di

Related Party Transactions - Dividends to CVR Energy Stockholders (Details) - USD ($) $ / shares in Units, $ in Millions									6 Months Ended	12 Months Ended
	Aug. 19, 2024	Jul. 29, 2024	May 20, 2024	Mar. 11, 2024	Nov. 20, 2023	Aug. 21, 2023	May 22, 2023	Mar. 13, 2023	Jun. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Quarterly dividends per share (in dollars per share)			$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 1	$ 2
Quarterly dividends paid			$ 50	$ 50	$ 50	$ 50	$ 50	$ 50	$ 101	$ 201
Special dividend declared (in dollars per share)					$ 1.50	$ 1				$ 2.50
Special dividends paid					$ 151	$ 101				$ 251
Subsequent Event
Related Party Transaction [Line Items]
Dividends declared per share (in dollars per share)		$ 0.50
Dividends, cash		$ 50
Subsequent Event | IEP | Forecast
Related Party Transaction [Line Items]
Proceeds from dividends received	$ 33
Public Stockholders
Related Party Transaction [Line Items]
Quarterly dividends paid			17	17	17	15	15	15	34	61
Special dividends paid					51	29				80
IEP
Related Party Transaction [Line Items]
Quarterly dividends paid			$ 33	$ 33	33	36	$ 36	$ 36	$ 67	140
Special dividends paid					$ 100	$ 71				$ 171

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. 19, 2024	Jul. 29, 2024	May 20, 2024	Mar. 11, 2024	Nov. 20, 2023	Aug. 21, 2023	May 22, 2023	Mar. 13, 2023	Jun. 30, 2024	Dec. 31, 2023
CVR Partners
Related Party Transaction [Line Items]
Quarterly distributions per common unit (in dollars per share)			$ 1.92	$ 1.68	$ 1.55	$ 4.14	$ 10.43	$ 10.50	$ 3.60	$ 26.62
Quarterly distributions paid			$ 20	$ 18	$ 16	$ 44	$ 110	$ 111	$ 38	$ 281
CVR Partners | Subsequent Event
Related Party Transaction [Line Items]
Distributions declared (in dollars per share)		$ 1.90
Distributions declared		$ 20
CVR Partners | CVR Energy
Related Party Transaction [Line Items]
Quarterly distributions paid			7	7	6	16	41	41	14	104
CVR Partners | Public Unitholders
Related Party Transaction [Line Items]
Quarterly distributions paid			$ 13	$ 11	$ 10	$ 28	$ 70	$ 70	$ 24	$ 178
CVR Energy | Subsequent Event | Forecast
Related Party Transaction [Line Items]
Proceeds from distribution	$ 7