Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 24, 2018 | |
Document and Entity Information | ||
Entity Registrant Name | CVR Partners, LP | |
Entity Central Index Key | 1,425,292 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 113,282,973 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 28,252 | $ 49,173 |
Accounts receivable, net of allowance for doubtful accounts of $55 and $28 at June 30, 2018 and December 31, 2017, respectively | 27,574 | 9,855 |
Inventories | 49,502 | 54,097 |
Prepaid expenses and other current assets | 4,985 | 5,793 |
Total current assets | 110,313 | 118,918 |
Property, plant, and equipment, net of accumulated depreciation | 1,043,837 | 1,069,526 |
Goodwill | 40,969 | 40,969 |
Other long-term assets | 4,457 | 4,863 |
Total assets | 1,199,576 | 1,234,276 |
Current liabilities: | ||
Accounts payable, including $2,410 and $2,223 due to affiliates at June 30, 2018 and December 31, 2017, respectively | 25,272 | 23,518 |
Accrued expenses and other current liabilities, including $3,511 and $4,742 with affiliates at June 30, 2018 and December 31, 2017, respectively | 30,152 | 32,577 |
Total current liabilities | 55,424 | 56,095 |
Long-term liabilities: | ||
Long-term debt, net of current portion | 627,410 | 625,904 |
Other long-term liabilities | 2,399 | 2,424 |
Total long-term liabilities | 629,809 | 628,328 |
Commitments and contingencies | ||
Partners’ capital | 514,343 | 549,853 |
Total liabilities and partners’ capital | $ 1,199,576 | $ 1,234,276 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $ 55 | $ 28 |
Accounts payable, due to affiliates | 2,410 | 2,223 |
Accrued expenses and other current liabilities, with affiliates | $ 3,511 | $ 4,742 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Statement [Abstract] | ||||
Net sales | $ 93,197 | $ 97,896 | $ 173,056 | $ 183,217 |
Operating costs and expenses: | ||||
Cost of materials and other | 19,139 | 22,141 | 41,608 | 43,878 |
Direct operating expenses (exclusive of depreciation and amortization) | 47,465 | 37,796 | 86,134 | 73,693 |
Depreciation and amortization | 20,405 | 19,982 | 36,831 | 35,394 |
Cost of sales | 87,009 | 79,919 | 164,573 | 152,965 |
Selling, general and administrative expenses | 6,900 | 5,754 | 12,562 | 12,668 |
Loss on asset disposals | 78 | 25 | 132 | 38 |
Total operating costs and expenses | 93,987 | 85,698 | 177,267 | 165,671 |
Operating income (loss) | (790) | 12,198 | (4,211) | 17,546 |
Interest expense, net | (15,677) | (15,683) | (31,388) | (31,387) |
Other income, net | 27 | 16 | 71 | 59 |
Loss before income tax | (16,440) | (3,469) | (35,528) | (13,782) |
Income tax expense (benefit) | 19 | (24) | (18) | (1) |
Net loss | $ (16,459) | $ (3,445) | $ (35,510) | $ (13,781) |
Net loss per common unit — basic and diluted (in dollars per unit) | $ (0.15) | $ (0.03) | $ (0.31) | $ (0.12) |
Weighted-average common units outstanding — basic and diluted (in units) | 113,283 | 113,283 | 113,283 | 113,283 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (35,510) | $ (13,781) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 36,831 | 35,394 |
Share-based compensation | 1,500 | 1,112 |
Other non-cash items | 1,751 | 1,539 |
Change in assets and liabilities: | ||
Current assets and liabilities | (17,421) | (17,416) |
Non-current assets and liabilities | 379 | 89 |
Net cash (used in) provided by operating activities | (12,470) | 6,937 |
Cash flows from investing activities: | ||
Capital expenditures | (8,623) | (8,616) |
Proceeds from sale of assets | 172 | 0 |
Net cash used in investing activities | (8,451) | (8,616) |
Cash flows from financing activities: | ||
Cash distributions to common unitholders – Affiliates | 0 | (778) |
Cash distributions to common unitholders – Non-affiliates | 0 | (1,488) |
Net cash used in financing activities | 0 | (2,266) |
Net decrease in cash and cash equivalents | (20,921) | (3,945) |
Cash and cash equivalents, beginning of period | 49,173 | 55,595 |
Cash and cash equivalents, end of period | $ 28,252 | $ 51,650 |
Organization and Nature of Busi
Organization and Nature of Business | 6 Months Ended |
Jun. 30, 2018 | |
Formation of the Partnership, Organization and Nature of Business | |
Organization and Nature of Business | (1) Organization and Nature of Business CVR Partners, LP (referred to as "CVR Partners" or the "Partnership") is a Delaware limited partnership, formed by CVR Energy, Inc. ("CVR Energy") to own, operate and grow its nitrogen fertilizer business. CVR Energy is a publicly traded company listed on the New York Stock Exchange under the ticker symbol "CVI", which indirectly owns our general partner and the common units owned by Coffeyville Resources, LLC ("CRLLC"). As of June 30, 2018 , public security holders held approximately 66% of the Partnership's outstanding limited partner interests and CRLLC, a wholly-owned subsidiary of CVR Energy, held approximately 34% of the Partnership's outstanding limited partner interests and 100% of the noneconomic general partner interest. As of June 30, 2018 , Icahn Enterprises L.P. ("IEP") and its affiliates owned approximately 82% of the shares of CVR Energy. The Partnership produces nitrogen fertilizer products at two manufacturing facilities, which are located in Coffeyville, Kansas (the "Coffeyville Facility") and East Dubuque, Illinois. Both facilities manufacture ammonia and are able to further upgrade to other nitrogen fertilizer products, principally urea ammonium nitrate ("UAN"). Nitrogen fertilizer is used by farmers to improve the yield and quality of their crops, primarily corn and wheat. Ammonia is a direct application fertilizer and is primarily used as a building block for other nitrogen products for industrial applications and finished fertilizer products. UAN is an aqueous solution of urea and ammonium nitrate. The Partnership's product sales are sold on a wholesale basis in North America. Management and Operations CVR GP, LLC ("CVR GP" or the "general partner") manages and operates the Partnership and is a wholly-owned subsidiary of CRLLC. Common unitholders have only limited voting rights on matters affecting the Partnership. In addition, common unitholders have no right to elect the general partner's directors on an annual or continuing basis. The Partnership is operated by a combination of the general partner's senior management team and CVR Energy's senior management team pursuant to a services agreement among CVR Energy, CVR GP and the Partnership. The various rights and responsibilities of the Partnership's partners are set forth in the limited partnership agreement. The Partnership is also party to a number of agreements with CVR Energy, CVR Refining, LP ("CVR Refining"), an indirect subsidiary of CVR Energy, and CVR GP to regulate certain business relations between the Partnership and the other parties thereto. The Partnership also has agreements with a subsidiary of CVR Refining under which the Partnership purchases petroleum coke and hydrogen for the Coffeyville Facility. Additionally, the two parties provide feedstock and other services to one other at the Coffeyville Facility. See Note 12 ("Related Party Transactions") for further discussion. |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | (2) Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC"). These condensed consolidated financial statements should be read in conjunction with the December 31, 2017 audited consolidated financial statements and notes thereto included in CVR Partners’ Annual Report on Form 10-K for the year ended December 31, 2017 , which was filed with the SEC on February 23, 2018 (the "2017 Form 10-K"). In the opinion of the Partnership’s management, the accompanying condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) that are necessary to fairly present the financial position of the Partnership as of June 30, 2018 and December 31, 2017 , the results of operations of the Partnership for the three and six month periods ended June 30, 2018 and 2017 and the cash flows of the Partnership for the six month periods ended June 30, 2018 and 2017 . The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Results of operations and cash flows for the interim periods presented are not necessarily indicative of the results that will be realized for the year ending December 31, 2018 or any other interim or annual period. Planned Major Maintenance Costs The direct-expense method of accounting is used for maintenance activities, including planned major maintenance activities and other less extensive shutdowns. Maintenance costs are recognized as an expense when maintenance services are performed. Planned major maintenance activities generally occur every two to three years . The Coffeyville Facility completed a 15 -day major scheduled turnaround in the second quarter of 2018. Exclusive of the impacts due to the lost production, costs of approximately $6.3 million were included in direct operating expenses (exclusive of depreciation and amortization) in the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2018 . |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | (3) Recent Accounting Pronouncements Adoption of New Revenue Standard On January 1, 2018, the Partnership adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 606, " Revenue from Contracts with Customers" ("ASC 606" or the "new revenue standard") using the modified retrospective method applied to contracts which were not completed as of January 1, 2018. The new revenue standard was applied prospectively and the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Partnership did not identify any material differences in its existing revenue recognition methods that require modification under the new revenue standard. However, the Partnership did identify a balance sheet presentation change discussed below. The Partnership’s Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows were not impacted due to the adoption of ASC 606 for the six months ended June 30, 2018 . The Partnership identified a balance sheet presentation change associated with contracts requiring customer prepayment prior to delivery. Prior to adoption of ASC 606, deferred revenue, a type of contract liability, was recorded upon customer prepayment. Under the new revenue standard, a receivable and associated deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional. The adoption of the new revenue standard resulted in a $21.4 million increase to deferred revenue and accounts receivable as of January 1, 2018. After the effect of adoption of the new revenue standard, deferred revenue and accounts receivable were $34.3 million and $31.2 million , respectively, as of January 1, 2018. The following table displays the effect of the adoption of ASC 606 to the Condensed Consolidated Balance Sheet as of June 30, 2018 : June 30, 2018 As Reported Balances without adoption of ASC 606 Effect of Change (in thousands) Assets Accounts receivable $ 27,574 $ 17,817 $ 9,757 Liabilities Deferred revenue $ 11,194 $ 1,437 $ 9,757 New Accounting Standards Issued But Not Yet Implemented In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, " Leases" ("ASU 2016-02"), creating a new topic, FASB ASC Topic 842, " Leases," which supersedes lease requirements in FASB ASC Topic 840, "Leases." The new standard revises accounting for operating leases by a lessee, among other changes, and requires a lessee to recognize a liability related to future lease payments and an asset representing its right to use the underlying asset for the lease term in the balance sheet. Quantitative and qualitative disclosures, including disclosures regarding significant judgments made by management, will be required. The standard is effective for the first interim and annual periods beginning after December 15, 2018, with early adoption permitted. At adoption, ASU 2016-02 will be applied using the modified retrospective application method and allows for certain practical expedients. The Partnership has begun its assessment and implementation plan for its planned adoption effective January 1, 2019. The Partnership expects the impact of the new lease standard to be material with respect to its balance sheet and further expect impacts to disclosures and changes in internal lease accounting processes. |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2018 | |
Inventory Disclosure [Abstract] | |
Inventories | (4) Inventories June 30, 2018 December 31, 2017 (in thousands) Raw materials and precious metals $ 6,374 $ 6,333 Finished goods 11,100 13,594 Parts and supplies 32,028 34,170 Total inventories $ 49,502 $ 54,097 |
Property, Plant and Equipment
Property, Plant and Equipment | 6 Months Ended |
Jun. 30, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | (5) Property, Plant and Equipment June 30, 2018 December 31, 2017 (in thousands) Land and improvements $ 13,092 $ 13,092 Buildings and improvements 17,123 16,990 Machinery and equipment 1,356,662 1,352,573 Other 32,047 28,101 1,418,924 1,410,756 Less: Accumulated depreciation 375,087 341,230 Total property, plant and equipment, net $ 1,043,837 $ 1,069,526 |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 6 Months Ended |
Jun. 30, 2018 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Current Liabilities | (6) Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities were as follows: June 30, 2018 December 31, 2017 (in thousands) Deferred revenue $ 11,194 $ 12,895 Personnel accruals 6,487 6,719 Affiliates (a) 3,511 4,742 Accrued interest 2,683 2,683 Other accrued expenses and liabilities 6,277 5,538 Total accrued expenses and other current liabilities $ 30,152 $ 32,577 (a) Personnel accruals and other accrued expenses and liabilities include amounts owed by the Partnership to CVR Energy under the shared services agreement. Refer to Note 12 ("Related Party Transactions") for additional discussion. |
Debt
Debt | 6 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
Debt | (7) Debt Debt Balance, Net of Current Maturities and Unamortized Discount and Issuance Costs June 30, 2018 December 31, 2017 (in thousands) 9.250% senior secured notes, due 2023 $ 645,000 $ 645,000 6.500% notes, due 2021 2,240 2,240 Total long-term debt, before debt issuance costs and discount (a) 647,240 647,240 Less: Unamortized discount and debt issuance costs 19,830 21,336 Total long-term debt, net of current portion $ 627,410 $ 625,904 (a) The estimated fair value of total long-term debt outstanding was approximately $666.6 million as of June 30, 2018. Credit Facilities Outstanding Total Capacity Amount Borrowed as of June 30, 2018 Outstanding Letters of Credit Available Capacity as of June 30, 2018 Maturity Date (in thousands) Asset based credit facility (b) $ 50,000 $ — $ — $ 49,622 September 30, 2021 (b) Loans under the asset based credit facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter’s excess availability. The Partnership is in compliance with all covenants of the asset based credit facility and the 9.250% senior secured notes as of June 30, 2018. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 6 Months Ended |
Jun. 30, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | (8) Supplemental Cash Flow Information Cash flows related to interest and construction in process were as follows: Six Months Ended June 30, 2018 2017 (in thousands) Supplemental disclosures: Cash paid for interest $ 29,999 $ 29,951 Non-cash investing and financing activities: Construction in process additions included in accounts payable 3,713 1,375 Change in accounts payable related to construction in process additions 2,824 (2,496 ) |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (9) Commitments and Contingencies There have been no material changes in our commitments and contingencies disclosed in the 2017 Form 10-K. In the ordinary course of business, the Partnership 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 Partnership accrues liabilities for these matters if it 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 the Partnership, it believes there would be no material impact on the consolidated financial statements. During the second quarter of 2018, the Partnership submitted a business interruption claim for losses, as afforded by its insurance policies, related to reduced production rates experienced during the second half of 2017 and early 2018 due to equipment operational issues. At this time, the Partnership cannot estimate the outcome of this claim and the timing of any receipt of proceeds. However, the amount of proceeds could have a material impact on the Partnership's Condensed Consolidated Statements of Operations. |
Revenue
Revenue | 6 Months Ended |
Jun. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | (10) Revenue The following table presents the Partnership's revenue disaggregated by product: Three Months Ended Six Months Ended (in thousands) Ammonia $ 28,373 $ 39,970 UAN 51,394 104,157 Urea products 4,936 9,847 Fertilizer sales, exclusive of freight 84,703 153,974 Freight revenue 6,364 15,103 Other revenue 2,130 3,979 Total net sales $ 93,197 $ 173,056 The Partnership sells its products on a wholesale basis under a contract or by purchase order. The Partnership’s contracts with customers, including purchase orders, generally contain fixed pricing and most have terms of less than one year. The Partnership recognizes revenue at the point in time at which the customer obtains control of the product, which is generally upon delivery and acceptance by the customer. The customer acceptance point is stated in the contract and may be at one of the Partnership’s manufacturing facilities, at one of the Partnership’s off-site loading facilities or at the customer’s designated facility. Freight revenue recognized by the Partnership represents the pass-through finished goods delivery costs incurred prior to customer acceptance and is reimbursed by customers. An offsetting expense is included in cost of materials and other. Qualifying taxes collected from customers and remitted to governmental authorities are not included in reported revenues. Depending on the product sold and the type of contract, payments from customers are generally either due prior to delivery or within 15 to 30 days of product delivery. The Partnership generally provides no warranty other than the implicit promise that goods delivered are free of liens and encumbrances and meet the agreed upon specifications. Product returns are rare, and as such, the Partnership does not record a specific warranty reserve or consider activities related to such warranty, if any, to be a separate performance obligation. The Partnership has an immaterial amount of variable consideration for contracts with an original duration of less than a year. A small portion of the Partnership’s revenue includes contracts extending beyond one year, some of which contain variable pricing in which the majority of the variability is attributed to the market-based pricing. The Partnership’s contracts do not contain a significant financing component. The Partnership has certain fee-based revenue, included in other revenue in the table above, that is recognized based on the net amount of the proceeds received, consistent with prior accounting practice. Transaction price allocated to remaining performance obligations As of June 30, 2018 , the Partnership had approximately $13.3 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Partnership expects to recognize approximately 56% of these performance obligations as revenue by the end of 2019, an additional 22% by 2020 and the remaining balance thereafter. The Partnership has elected to not disclose the amount of transaction price allocated to remaining performance obligations for contracts with an original expected duration of less than one year. The Partnership has elected to not disclose variable consideration allocated to wholly unsatisfied performance obligations that are based on market prices that have not yet been determined. Contract balances The Partnership’s deferred revenue is a contract liability that primarily relates to fertilizer sales contracts requiring customer prepayment prior to product delivery to guarantee a price and supply of nitrogen fertilizer. Deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional prior to transferring product to the customer. An associated receivable is recorded for uncollected prepaid contract amounts. Contracts requiring prepayment are generally short-term in nature and, as discussed above, revenue is recognized at the point in time in which the customer obtains control of the product. A summary of the deferred revenue activity during the six months ended June 30, 2018 is presented below: Six Months Ended (in thousands) Balance at January 1, 2018 $ 34,270 Add: New prepay contracts entered into during the period 13,829 Less: Revenue recognized that was included in the contract liability balance at the beginning of the period (31,903 ) Revenue recognized related to contracts entered into during the period (4,781 ) Other changes (221 ) Balance at June 30, 2018 $ 11,194 |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | (11) Share‑Based Compensation There have been no material changes in share-based compensation arrangements from those disclosed in the 2017 Form 10-K. A summary of compensation expense during the three and six months ended June 30, 2018 and 2017 is presented below: Share-Based Compensation Expense Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (in thousands) CVR Partners LTIP - Phantom Units $ 548 $ 85 $ 954 $ 415 Other Awards (a) 672 345 546 697 Total Share-Based Compensation Expense $ 1,220 $ 430 $ 1,500 $ 1,112 (a) Other awards include compensation expense for certain employees of CVR Energy who perform services for the Partnership under the services agreement with CVR Energy and participate in equity compensation plans of CVR Partners' affiliates. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | (12) Related Party Transactions There have been no material changes in related party transactions from those disclosed in the 2017 Form 10-K. Activity associated with the Partnership's related party arrangements for the three and six month periods ending June 30, 2018 and 2017 is summarized below: Expenses from related parties Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Related Party (in thousands) Cost of materials and other Coke Supply Agreement CRRM (a) $ 716 $ 507 $ 1,075 $ 981 Hydrogen Purchase and Sale Agreement CRRM 774 892 2,084 2,109 Railcar Lease Agreements ARI (b) 361 223 722 447 Direct operating expenses (exclusive of depreciation and amortization) Services Agreement CVR Energy $ 769 $ 782 $ 1,384 $ 1,391 Limited Partnership Agreement CVR GP 174 128 330 302 Selling, general and administrative expenses Services Agreement CVR Energy $ 3,895 $ 3,006 $ 6,758 $ 6,158 Limited Partnership Agreement CVR GP 787 590 1,294 1,324 (a) Coffeyville Resources Refining & Marketing, LLC, a subsidiary of CVR Refining (b) ARI Leasing, LLC, a company controlled by IEP Amounts due to related parties June 30, 2018 December 31, 2017 Related Party (in thousands) Accounts payable Feedstock and Shared Services Agreement CRRM $ 763 $ 1,020 Hydrogen Purchase and Sale Agreement CRRM 218 324 Services Agreement CVR Energy 1,259 771 Accrued expenses and other current liabilities Limited Partnership Agreement CVR GP $ 1,565 $ 1,521 Service Agreement CVR Energy 1,943 3,221 |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC"). These condensed consolidated financial statements should be read in conjunction with the December 31, 2017 audited consolidated financial statements and notes thereto included in CVR Partners’ Annual Report on Form 10-K for the year ended December 31, 2017 , which was filed with the SEC on February 23, 2018 (the "2017 Form 10-K"). In the opinion of the Partnership’s management, the accompanying condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) that are necessary to fairly present the financial position of the Partnership as of June 30, 2018 and December 31, 2017 , the results of operations of the Partnership for the three and six month periods ended June 30, 2018 and 2017 and the cash flows of the Partnership for the six month periods ended June 30, 2018 and 2017 . The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Results of operations and cash flows for the interim periods presented are not necessarily indicative of the results that will be realized for the year ending December 31, 2018 or any other interim or annual period. |
Planned Major Maintenance Costs | The direct-expense method of accounting is used for maintenance activities, including planned major maintenance activities and other less extensive shutdowns. Maintenance costs are recognized as an expense when maintenance services are performed. Planned major maintenance activities generally occur every two to three years . |
Recent Accounting Pronouncements | Adoption of New Revenue Standard On January 1, 2018, the Partnership adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 606, " Revenue from Contracts with Customers" ("ASC 606" or the "new revenue standard") using the modified retrospective method applied to contracts which were not completed as of January 1, 2018. The new revenue standard was applied prospectively and the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Partnership did not identify any material differences in its existing revenue recognition methods that require modification under the new revenue standard. However, the Partnership did identify a balance sheet presentation change discussed below. The Partnership’s Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Cash Flows were not impacted due to the adoption of ASC 606 for the six months ended June 30, 2018 . The Partnership identified a balance sheet presentation change associated with contracts requiring customer prepayment prior to delivery. Prior to adoption of ASC 606, deferred revenue, a type of contract liability, was recorded upon customer prepayment. Under the new revenue standard, a receivable and associated deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional. The adoption of the new revenue standard resulted in a $21.4 million increase to deferred revenue and accounts receivable as of January 1, 2018. After the effect of adoption of the new revenue standard, deferred revenue and accounts receivable were $34.3 million and $31.2 million , respectively, as of January 1, 2018. The following table displays the effect of the adoption of ASC 606 to the Condensed Consolidated Balance Sheet as of June 30, 2018 : June 30, 2018 As Reported Balances without adoption of ASC 606 Effect of Change (in thousands) Assets Accounts receivable $ 27,574 $ 17,817 $ 9,757 Liabilities Deferred revenue $ 11,194 $ 1,437 $ 9,757 New Accounting Standards Issued But Not Yet Implemented In February 2016, the FASB issued Accounting Standards Update ("ASU") No. 2016-02, " Leases" ("ASU 2016-02"), creating a new topic, FASB ASC Topic 842, " Leases," which supersedes lease requirements in FASB ASC Topic 840, "Leases." The new standard revises accounting for operating leases by a lessee, among other changes, and requires a lessee to recognize a liability related to future lease payments and an asset representing its right to use the underlying asset for the lease term in the balance sheet. Quantitative and qualitative disclosures, including disclosures regarding significant judgments made by management, will be required. The standard is effective for the first interim and annual periods beginning after December 15, 2018, with early adoption permitted. At adoption, ASU 2016-02 will be applied using the modified retrospective application method and allows for certain practical expedients. The Partnership has begun its assessment and implementation plan for its planned adoption effective January 1, 2019. The Partnership expects the impact of the new lease standard to be material with respect to its balance sheet and further expect impacts to disclosures and changes in internal lease accounting processes. |
Recent Accounting Pronounceme19
Recent Accounting Pronouncements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Effect of adoption of ASC 606 | The following table displays the effect of the adoption of ASC 606 to the Condensed Consolidated Balance Sheet as of June 30, 2018 : June 30, 2018 As Reported Balances without adoption of ASC 606 Effect of Change (in thousands) Assets Accounts receivable $ 27,574 $ 17,817 $ 9,757 Liabilities Deferred revenue $ 11,194 $ 1,437 $ 9,757 |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Inventory Disclosure [Abstract] | |
Schedule of inventories | June 30, 2018 December 31, 2017 (in thousands) Raw materials and precious metals $ 6,374 $ 6,333 Finished goods 11,100 13,594 Parts and supplies 32,028 34,170 Total inventories $ 49,502 $ 54,097 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Property, Plant and Equipment [Abstract] | |
Summary of costs and accumulated depreciation for property, plant, and equipment | June 30, 2018 December 31, 2017 (in thousands) Land and improvements $ 13,092 $ 13,092 Buildings and improvements 17,123 16,990 Machinery and equipment 1,356,662 1,352,573 Other 32,047 28,101 1,418,924 1,410,756 Less: Accumulated depreciation 375,087 341,230 Total property, plant and equipment, net $ 1,043,837 $ 1,069,526 |
Accrued Expenses and Other Cu22
Accrued Expenses and Other Current Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Payables and Accruals [Abstract] | |
Accrued expenses and other current liabilities | Accrued expenses and other current liabilities were as follows: June 30, 2018 December 31, 2017 (in thousands) Deferred revenue $ 11,194 $ 12,895 Personnel accruals 6,487 6,719 Affiliates (a) 3,511 4,742 Accrued interest 2,683 2,683 Other accrued expenses and liabilities 6,277 5,538 Total accrued expenses and other current liabilities $ 30,152 $ 32,577 (a) Personnel accruals and other accrued expenses and liabilities include amounts owed by the Partnership to CVR Energy under the shared services agreement. Refer to Note 12 ("Related Party Transactions") for additional discussion. |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of debt | Debt Balance, Net of Current Maturities and Unamortized Discount and Issuance Costs June 30, 2018 December 31, 2017 (in thousands) 9.250% senior secured notes, due 2023 $ 645,000 $ 645,000 6.500% notes, due 2021 2,240 2,240 Total long-term debt, before debt issuance costs and discount (a) 647,240 647,240 Less: Unamortized discount and debt issuance costs 19,830 21,336 Total long-term debt, net of current portion $ 627,410 $ 625,904 (a) The estimated fair value of total long-term debt outstanding was approximately $666.6 million as of June 30, 2018. Credit Facilities Outstanding Total Capacity Amount Borrowed as of June 30, 2018 Outstanding Letters of Credit Available Capacity as of June 30, 2018 Maturity Date (in thousands) Asset based credit facility (b) $ 50,000 $ — $ — $ 49,622 September 30, 2021 (b) Loans under the asset based credit facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter’s excess availability. |
Supplemental Cash Flow Inform24
Supplemental Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of cash flows related to interest and construction in process | Cash flows related to interest and construction in process were as follows: Six Months Ended June 30, 2018 2017 (in thousands) Supplemental disclosures: Cash paid for interest $ 29,999 $ 29,951 Non-cash investing and financing activities: Construction in process additions included in accounts payable 3,713 1,375 Change in accounts payable related to construction in process additions 2,824 (2,496 ) |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of revenue | The following table presents the Partnership's revenue disaggregated by product: Three Months Ended Six Months Ended (in thousands) Ammonia $ 28,373 $ 39,970 UAN 51,394 104,157 Urea products 4,936 9,847 Fertilizer sales, exclusive of freight 84,703 153,974 Freight revenue 6,364 15,103 Other revenue 2,130 3,979 Total net sales $ 93,197 $ 173,056 |
Summary of deferred revenue activity | A summary of the deferred revenue activity during the six months ended June 30, 2018 is presented below: Six Months Ended (in thousands) Balance at January 1, 2018 $ 34,270 Add: New prepay contracts entered into during the period 13,829 Less: Revenue recognized that was included in the contract liability balance at the beginning of the period (31,903 ) Revenue recognized related to contracts entered into during the period (4,781 ) Other changes (221 ) Balance at June 30, 2018 $ 11,194 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of share-based compensation expense | A summary of compensation expense during the three and six months ended June 30, 2018 and 2017 is presented below: Share-Based Compensation Expense Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (in thousands) CVR Partners LTIP - Phantom Units $ 548 $ 85 $ 954 $ 415 Other Awards (a) 672 345 546 697 Total Share-Based Compensation Expense $ 1,220 $ 430 $ 1,500 $ 1,112 (a) Other awards include compensation expense for certain employees of CVR Energy who perform services for the Partnership under the services agreement with CVR Energy and participate in equity compensation plans of CVR Partners' affiliates. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
Schedule of related party transactions | Activity associated with the Partnership's related party arrangements for the three and six month periods ending June 30, 2018 and 2017 is summarized below: Expenses from related parties Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Related Party (in thousands) Cost of materials and other Coke Supply Agreement CRRM (a) $ 716 $ 507 $ 1,075 $ 981 Hydrogen Purchase and Sale Agreement CRRM 774 892 2,084 2,109 Railcar Lease Agreements ARI (b) 361 223 722 447 Direct operating expenses (exclusive of depreciation and amortization) Services Agreement CVR Energy $ 769 $ 782 $ 1,384 $ 1,391 Limited Partnership Agreement CVR GP 174 128 330 302 Selling, general and administrative expenses Services Agreement CVR Energy $ 3,895 $ 3,006 $ 6,758 $ 6,158 Limited Partnership Agreement CVR GP 787 590 1,294 1,324 (a) Coffeyville Resources Refining & Marketing, LLC, a subsidiary of CVR Refining (b) ARI Leasing, LLC, a company controlled by IEP Amounts due to related parties June 30, 2018 December 31, 2017 Related Party (in thousands) Accounts payable Feedstock and Shared Services Agreement CRRM $ 763 $ 1,020 Hydrogen Purchase and Sale Agreement CRRM 218 324 Services Agreement CVR Energy 1,259 771 Accrued expenses and other current liabilities Limited Partnership Agreement CVR GP $ 1,565 $ 1,521 Service Agreement CVR Energy 1,943 3,221 |
Organization and Nature of Bu28
Organization and Nature of Business (Details) | 6 Months Ended |
Jun. 30, 2018manufacturing_facility | |
Formation of the Partnership, Organization and Nature of Business | |
Percentage of limited partner interest held by the public | 66.00% |
Number of manufacturing facilities | 2 |
CVR Energy, Inc | IEP Energy LLC | |
Formation of the Partnership, Organization and Nature of Business | |
Aggregate ownership percentage | 82.00% |
CRLLC | |
Formation of the Partnership, Organization and Nature of Business | |
Limited partner interest | 34.00% |
General partner interest | 100.00% |
Basis of Presentation (Details)
Basis of Presentation (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Coffeyville Facility | ||
Property, Plant, and Equipment | ||
Turnaround period | 15 days | |
Coffeyville Facility | Direct Operating Expenses (Exclusive of Depreciation and Amortization) | ||
Property, Plant, and Equipment | ||
Planned major maintenance costs, exclusive of impacts due to lost production | $ 6.3 | $ 6.3 |
Minimum | ||
Property, Plant, and Equipment | ||
Frequency of planned major maintenance activities | 2 years | |
Maximum | ||
Property, Plant, and Equipment | ||
Frequency of planned major maintenance activities | 3 years |
Recent Accounting Pronounceme30
Recent Accounting Pronouncements - Effect of the adoption of ASC 606 to the Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Assets | |||
Accounts receivable | $ 27,574 | $ 31,200 | $ 9,855 |
Liabilities | |||
Deferred revenue | 11,194 | 34,270 | $ 12,895 |
Balances without adoption of ASC 606 | |||
Assets | |||
Accounts receivable | 17,817 | ||
Liabilities | |||
Deferred revenue | 1,437 | ||
ASU 2014-09 | Effect of Change | |||
Assets | |||
Accounts receivable | 9,757 | 21,400 | |
Liabilities | |||
Deferred revenue | $ 9,757 | $ 21,400 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Inventory Disclosure [Abstract] | ||
Raw materials and precious metals | $ 6,374 | $ 6,333 |
Finished goods | 11,100 | 13,594 |
Parts and supplies | 32,028 | 34,170 |
Total inventories | $ 49,502 | $ 54,097 |
Property, Plant and Equipment32
Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Property, Plant, and Equipment | ||
Total property, plant and equipment, gross | $ 1,418,924 | $ 1,410,756 |
Less: Accumulated depreciation | 375,087 | 341,230 |
Total property, plant and equipment, net | 1,043,837 | 1,069,526 |
Land and improvements | ||
Property, Plant, and Equipment | ||
Total property, plant and equipment, gross | 13,092 | 13,092 |
Buildings and improvements | ||
Property, Plant, and Equipment | ||
Total property, plant and equipment, gross | 17,123 | 16,990 |
Machinery and equipment | ||
Property, Plant, and Equipment | ||
Total property, plant and equipment, gross | 1,356,662 | 1,352,573 |
Other | ||
Property, Plant, and Equipment | ||
Total property, plant and equipment, gross | $ 32,047 | $ 28,101 |
Accrued Expenses and Other Cu33
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Payables and Accruals [Abstract] | |||
Deferred revenue | $ 11,194 | $ 34,270 | $ 12,895 |
Personnel accruals | 6,487 | 6,719 | |
Affiliates | 3,511 | 4,742 | |
Accrued interest | 2,683 | 2,683 | |
Other accrued expenses and liabilities | 6,277 | 5,538 | |
Total accrued expenses and other current liabilities | $ 30,152 | $ 32,577 |
Debt - Debt Balance, Net of Cu
Debt - Debt Balance, Net of Current Maturities and Unamortized Discount and Issuance Costs (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Debt Instrument [Line Items] | ||
Total long-term debt, before debt issuance costs and discount | $ 647,240 | $ 647,240 |
Less: | ||
Unamortized discount and debt issuance costs | 19,830 | 21,336 |
Total long-term debt, net of current portion | 627,410 | 625,904 |
Estimated fair value of total long-term debt outstanding | 666,600 | |
Senior Notes | 9.250% senior secured notes, due 2023 | ||
Debt Instrument [Line Items] | ||
Total long-term debt, before debt issuance costs and discount | $ 645,000 | 645,000 |
Less: | ||
Debt instrument, percentage rate | 9.25% | |
Senior Notes | 6.500% notes, due 2021 | ||
Debt Instrument [Line Items] | ||
Total long-term debt, before debt issuance costs and discount | $ 2,240 | $ 2,240 |
Less: | ||
Debt instrument, percentage rate | 6.50% |
Debt - Credit Facilities Outsta
Debt - Credit Facilities Outstanding (Details) - Asset Based Credit Facility - Line of Credit - Revolving credit facility | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Line of Credit Facility [Line Items] | |
Total Capacity | $ 50,000,000 |
Amount Borrowed | 0 |
Outstanding Letters of Credit | 0 |
Available Capacity | $ 49,622,000 |
LIBOR | |
Line of Credit Facility [Line Items] | |
Basis spread on variable rate | 2.00% |
Base Rate | |
Line of Credit Facility [Line Items] | |
Basis spread on variable rate | 1.00% |
Step-down percentage based on the previous quarter's excess availability | 0.50% |
Debt - Additional Information (
Debt - Additional Information (Details) | Jun. 30, 2018 |
Senior Notes | 9.250% senior secured notes, due 2023 | |
Debt Instrument [Line Items] | |
Debt instrument, percentage rate | 9.25% |
Supplemental Cash Flow Inform37
Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Supplemental disclosures: | ||
Cash paid for interest | $ 29,999 | $ 29,951 |
Non-cash investing and financing activities: | ||
Construction in process additions included in accounts payable | 3,713 | 1,375 |
Change in accounts payable related to construction in process additions | $ 2,824 | $ (2,496) |
Revenue - Revenue Disaggregate
Revenue - Revenue Disaggregated by Product (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 93,197 | $ 97,896 | $ 173,056 | $ 183,217 |
Fertilizer sales, exclusive of freight | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 84,703 | 153,974 | ||
Ammonia | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 28,373 | 39,970 | ||
UAN | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 51,394 | 104,157 | ||
Urea products | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 4,936 | 9,847 | ||
Freight revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 6,364 | 15,103 | ||
Other revenue | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 2,130 | $ 3,979 |
Revenue - Additional Informati
Revenue - Additional Information (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 13.3 |
Minimum | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Payment terms | 15 days |
Maximum | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Payment terms | 30 days |
Revenue - Remaining performanc
Revenue - Remaining performance obligations (Details) | Jun. 30, 2018 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, percentage | 56.00% |
Remaining performance obligation, expected timing of satisfaction, period | 1 year 6 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, percentage | 22.00% |
Remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue - Summary of Deferred
Revenue - Summary of Deferred Revenue Activity (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Change in Contract with Customer, Liability [Roll Forward] | |
Balance at January 1, 2018 | $ 34,270 |
Add: | |
New prepay contracts entered into during the period | 13,829 |
Less: | |
Revenue recognized that was included in the contract liability balance at the beginning of the period | (31,903) |
Revenue recognized related to contracts entered into during the period | (4,781) |
Other changes | (221) |
June 30, 2018 | $ 11,194 |
Share-Based Compensation - Shar
Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Share-Based Compensation | ||||
Total Share-Based Compensation Expense | $ 1,220 | $ 430 | $ 1,500 | $ 1,112 |
Other Awards | ||||
Share-Based Compensation | ||||
Total Share-Based Compensation Expense | 672 | 345 | 546 | 697 |
CVR Partners LTIP | Phantom Units | ||||
Share-Based Compensation | ||||
Total Share-Based Compensation Expense | $ 548 | $ 85 | $ 954 | $ 415 |
Related Party Transactions - Ex
Related Party Transactions - Expenses From Related Parties (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Related Party Transaction [Line Items] | ||||
Cost of materials and other | $ 19,139 | $ 22,141 | $ 41,608 | $ 43,878 |
Direct operating expenses (exclusive of depreciation and amortization) | 47,465 | 37,796 | 86,134 | 73,693 |
Selling, general and administrative expenses | 6,900 | 5,754 | 12,562 | 12,668 |
Coke Supply Agreement | Coffeyville Resources Refining & Marketing, LLC (CRRM) | Petroleum coke | ||||
Related Party Transaction [Line Items] | ||||
Cost of materials and other | 716 | 507 | 1,075 | 981 |
Hydrogen Purchase and Sale Agreement | Coffeyville Resources Refining & Marketing, LLC (CRRM) | Hydrogen | ||||
Related Party Transaction [Line Items] | ||||
Cost of materials and other | 774 | 892 | 2,084 | 2,109 |
Railcar Lease Agreements | ARI Leasing, LLC (ARI) | ||||
Related Party Transaction [Line Items] | ||||
Cost of materials and other | 361 | 223 | 722 | 447 |
Services Agreement | CVR Energy | ||||
Related Party Transaction [Line Items] | ||||
Direct operating expenses (exclusive of depreciation and amortization) | 769 | 782 | 1,384 | 1,391 |
Selling, general and administrative expenses | 3,895 | 3,006 | 6,758 | 6,158 |
Limited Partnership Agreement | CVR GP | ||||
Related Party Transaction [Line Items] | ||||
Direct operating expenses (exclusive of depreciation and amortization) | 174 | 128 | 330 | 302 |
Selling, general and administrative expenses | $ 787 | $ 590 | $ 1,294 | $ 1,324 |
Related Party Transactions - Am
Related Party Transactions - Amounts Due to Related Parties (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Related Party Transaction [Line Items] | ||
Accrued expenses and other current liabilities | $ 2,410 | $ 2,223 |
Feedstock and Shared Services Agreement | CRRM | ||
Related Party Transaction [Line Items] | ||
Accounts payable | 763 | 1,020 |
Hydrogen Purchase and Sale Agreement | CRRM | Hydrogen | ||
Related Party Transaction [Line Items] | ||
Accounts payable | 218 | 324 |
Services Agreement | CVR Energy | ||
Related Party Transaction [Line Items] | ||
Accounts payable | 1,259 | 771 |
Accrued expenses and other current liabilities | 1,943 | 3,221 |
Limited Partnership Agreement | CVR GP | ||
Related Party Transaction [Line Items] | ||
Accrued expenses and other current liabilities | $ 1,565 | $ 1,521 |