Dave you, afternoon and Thank good everyone.
mentioned rate be as fourth the did into income income liabilities income compared XXXX meaningful that which to the tax eliminates a December the $X.XX as liabilities impact for of our the XX% per in and in XXXX, performance in of our as expectations. for as lower As was to adjusted effective rate a for tax items for was our other law corporate adjusted net $X benefit of effect adjustment to we tax quarter quarter legislation to cuts provides XX% derive or re-measure the tax in XXXX. signed are believe net adjusted beginning of the to We the reductions that and result was federal expected income million be as of net or from and XXXX jobs non-cash assets is net is December a the per adjusted which in will XXXX. acts tax income the adjustment tax years XX, diluted significant net for deferred and Dave realized. of million analyzing more deferred the most Due previously share net to of view to market the metric $XX share fourth diluted fourth unusual of $X.XX inherent XXXX it transparent The business quarter in
in re-measurement income To tax net adjust of of recorded net of the the to As adjusted a deferred we this million of tax result did fourth and impacts recognized one-time quarter this benefit the a related XXXX. – approximately derive we $XXX out benefit liabilities.
million XXXX period not current major turnaround derivatives of quarter derivatives were benefit the quarter. extinguishment fourth tax income $XX total of favorable period net the a a to $XXX,XXX. The not of loss $XX of million, fourth scheduled the gross the prior Additionally, are that’s The was income favorable reduced for adjustments adjustments million during impact The of pretax non-controlling treatable XXXX portion $XX loss of to million reduced associated of impact are income the settled adjusted the we $XX expenses on FIFO amounts. as an further and with to net the then gain million. the $XX quarter of of $XX impact for $XXX debt and for tax in year FIFO for settled benefit a of in just million with on tax compared and million those on the interest
The income been benefit benefited $XXX million million. tax and approximate of $XX re-measurement income would the liabilities also effective certain benefit from credits tax of income the tax deferred rate have Excluding from other the associated approximately net items. the overall tax tax state
tax expect and to effective impacted interest XX%. in associated is or rate we overall Partners’ tax by be and In effective loss income the CVR XXXX, between rate with earnings. CVR our XX% the Additionally Refining’s the non-controlling
we will segments the impacting specific cash turn two results. through we as and I rate see payments overall business of that reduced the will federal tax performance our XXXX reduced into to on our income. Additionally tax move beyond benefits quarterly of taxable forward now
in increase Refining’s increase in earlier by mentioned $XX adjusted driven Dave compared was to XXXX. fourth the primarily $XX X crack for cost partially of million As in by was million same an significant period a EBITDA overall X-X-X and XXXX the spread, RINs reduced increase in CVR offset crude as discount. an quarter the net This Group
was in $XX.XX quarter schedule quarter turnaround on $X.XX X-X-X per Group XXXX adjusted In and to in Just fourth barrel by compared the on the XXXX. $XX.XX XXXX. the of the reminder, was in as impacted fourth spread of Refining’s completed of quarter quarter CVR a for of of The crack XXXX as X refining the as FIFO barrel same compared XXXX fourth per averaged fourth $XX.XX quarter was realized budget. margin Wynnewood’s which to
as at was $XX will Total UAN in partially fertilizer compared as offset price $X lower XXXX capital facility We spending period and the the fourth approximate was quarter. previously the the for East year. approximately decrease $XXX increased million Partners’ year the lower tons prices, plant fourth at by to fourth fourth realized the was consolidated ton for million. was Partners. quarter estimate attributable CVR in compared to $XXX CVR quarter sales EBITDA sales was included per million. was as of capital fourth of periods volumes over $XX Refining XXXX days The UAN EBITDA gate XXXX. per XX ton ton compared adjusted in The XXXX Dubuque ton $XXX million, year turning quarter fourth spending total $XXX to per $XXX mentioned, and quarter as the to at prior spending that average of last the gate sold. average in million ammonia consolidated quarter XXXX downtime product $XX capital to ammonia per full price and Now, $X million XXXX ammonia The at $XXX at the plant which primarily The unplanned million same of the segment, for product our UAN CVR adjusted in
November of approximately Energy a Refining we ended exclusive cash XXXX Refining has ABL unchanged its debt that year $XXX with consolidated CVR November approximately on in the ago. XX, Partners. no million basis. a the billion Our $X.X equivalents matures CVR On cash Total $XXX CVR position CVR was as million of remains at resides amended debt cash restated quarter gross and XXXX. XXXX, strong December debt and XX, facility as now of consolidated from which and
December and million. you. that, total call $XXX Dave, approximately approximately the XXXX, total back to Refining’s will over With $XXX XX, of CVR debt million debt CVR turn is is I As Partners’
