0001376139-19-000053 | 10-Q | XBRL Viewer

Guarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidated Balance Sheet



	June 30, 2019
(in millions)	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Intercompany Elimination			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	5	$	416	$	48	$	71		$	—		$	540
Accounts receivable	—		—		145		23			—			168
Due to/from parent	—		—		—		—			—			—
Intercompany receivable	5		—		10		8			(23		)	—
Inventories	—		—		334		56			—			390
Prepaid expenses and other current assets	57		2		2		—			(2		)	59
Total current assets	67		418		539		158			(25		)	1,157
Property, plant and equipment, net of accumulated depreciation	—		1		1,393		982			—			2,376
Investment in and advances from subsidiaries	1,314		1,647		296		—			(3,257		)	—
Other long-term assets	7		4		236		50			—			297
Total assets	$	1,388	$	2,070	$	2,464	$	1,190		$	(3,282	)	$	3,830
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1	$	3	$	301	$	18		$	—		$	323
Intercompany payables	—		—		—		23			(23		)	—
Other current liabilities	—		14		61		86			(2		)	159
Total current liabilities	1		17		362		127			(25		)	482
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	—		497		63		630			—			1,190
Investment and advances from subsidiaries	—		—		—		852			(852		)	—
Deferred income taxes	—		—		—		401			—			401
Other long-term liabilities	3		1		33		14			—			51
Total long-term liabilities	3		498		96		1,897			(852		)	1,642
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	1,384		1,555		2,006		(1,156		)	(2,405		)	1,384
Noncontrolling interest	—		—		—		322			—			322
Total equity	1,384		1,555		2,006		(834		)	(2,405		)	1,706
Total liabilities and equity	$	1,388	$	2,070	$	2,464	$	1,190		$	(3,282	)	$	3,830

Condensed Consolidated Balance Sheet



	December 31, 2018
(in millions)	Parent			Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Intercompany Elimination			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	3		$	340	$	261	$	64	$	—		$	668
Accounts receivable	—			—		107		62		—			169
Due to/from parent	4			—		—		—		—			4
Intercompany receivable	6			—		4		—		(10		)	—
Inventories	—			—		316		64		—			380
Prepaid expenses and other current assets	27			1		49		4		(9		)	72
Total current assets	40			341		737		194		(19		)	1,293
Property, plant and equipment, net of accumulated depreciation	—			—		1,413		1,017		—			2,430
Investment in and advances from subsidiaries	1,232			1,601		172		1,440		(4,445		)	—
Other long-term assets	—			1		231		45		—			277
Total assets	$	1,272		$	1,943	$	2,553	$	2,696	$	(4,464	)	$	4,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1		$	—	$	293	$	26	$	—		$	320
Intercompany payables	—			—		—		10		(10		)	—
Other current liabilities	6			7		74		97		(8		)	176
Total current liabilities	7			7		367		133		(18		)	496
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	—			496		42		629		—			1,167
Investment and advances from subsidiaries	—			—		106		—		(106		)	—
Deferred income taxes	(24		)	—		—		404		—			380
Other long-term liabilities	3			—		7		4		—			14
Total long-term liabilities	(21		)	496		155		1,037		(106		)	1,561
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	1,286			1,440		1,702		1,198		(4,340		)	1,286
Noncontrolling interest	—			—		329		328		—			657
Total equity	1,286			1,440		2,031		1,526		(4,340		)	1,943
Total liabilities and equity	$	1,272		$	1,943	$	2,553	$	2,696	$	(4,464	)	$	4,000

Guarantor Consolidated Statement of Operations

Condensed Consolidated Statement of Operations



	Three Months Ended June 30, 2019
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	—		$	—		$	1,553		$	138		$	(4	)	$	1,687
Operating costs and expenses:
Cost of materials and other	—			—			1,245			26			(4		)	1,267
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	—			—			87			45			—			132
Depreciation and amortization	—			—			51			25			—			76
Cost of sales	—			—			1,383			96			(4		)	1,475
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	4			2			14			7			—			27
Depreciation and amortization	—			—			2			—			—			2
Gain on asset disposals	—			—			(9		)	—			—			(9		)
Operating income (loss)	(4		)	(2		)	163			35			—			192
Other income (expense):
Interest expense, net	(2		)	(7		)	(2		)	(15		)	—			(26		)
Other income, net	—			—			3			—			—			3
Income (loss) from subsidiaries	131			165			3			(8		)	(291		)	—
Income (loss) before income taxes	125			156			167			12			(291		)	169
Income tax expense (benefit)	9			—			—			32			—			41
Net income (loss)	116			156			167			(20		)	(291		)	128
Less: Net income attributable to noncontrolling interest	—			—			—			12			—			12
Net income (loss) attributable to CVR Energy stockholders	$	116		$	156		$	167		$	(32	)	$	(291	)	$	116

Condensed Consolidated Statement of Operations



	Three Months Ended June 30, 2018
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	—		$	—		$	1,824		$	93		$	(3	)	$	1,914
Operating costs and expenses:
Cost of materials and other	—			—			1,544			19			(3		)	1,560
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	—			—			94			46			—			140
Depreciation and amortization	—			—			47			21			—			68
Cost of sales	—			—			1,685			86			(3		)	1,768
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	5			4			16			6			—			31
Depreciation and amortization	—			1			2			—			—			3
Loss on asset disposals	—			—			5			—			—			5
Operating income (loss)	(5		)	(5		)	116			1			—			107
Other income (expense):
Interest expense, net	—			(9		)	(2		)	(15		)	—			(26		)
Other income, net	—			—			2			—			—			2
Income (loss) from subsidiaries	47			117			(11		)	(13		)	(140		)	—
Income (loss) before income taxes	42			103			105			(27		)	(140		)	83
Income tax expense (benefit)	(1		)	—			—			16			—			15
Net income (loss)	43			103			105			(43		)	(140		)	68
Less: Net income attributable to noncontrolling interest	—			—			36			(11		)	—			25
Net income (loss) attributable to CVR Energy stockholders	$	43		$	103		$	69		$	(32	)	$	(140	)	$	43

Condensed Consolidated Statement of Operations



	Six Months Ended June 30, 2019
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	—		$	—		$	2,948		$	230		$	(5	)	$	3,173
Operating costs and expenses:
Cost of materials and other	—			—			2,323			50			(5		)	2,368
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	—			—			178			80			—			258
Depreciation and amortization	—			—			99			42			—			141
Cost of sales	—			—			2,600			172			(5		)	2,767
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	9			4			30			14			—			57
Depreciation and amortization	—			—			3			1			—			4
(Gain) loss on asset disposals	—			—			(8		)	1			—			(7		)
Operating income (loss)	(9		)	(4		)	323			42			—			352
Other income (expense):
Interest expense, net	(4		)	(12		)	(6		)	(30		)	—			(52		)
Other income, net	—			—			6			—			—			6
Income (loss) from subsidiaries	252			324			(4		)	(17		)	(555		)	—
Income (loss) before income taxes	239			308			319			(5		)	(555		)	306
Income tax expense (benefit)	22			—			—			54			—			76
Net income (loss)	217			308			319			(59		)	(555		)	230
Less: Net income attributable to noncontrolling interest	—			—			5			8			—			13
Net income (loss) attributable to CVR Energy stockholders	$	217		$	308		$	314		$	(67	)	$	(555	)	$	217

Condensed Consolidated Statement of Operations



	Six Months Ended June 30, 2018
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	—		$	—		$	3,281		$	173		$	(3	)	$	3,451
Operating costs and expenses:
Cost of materials and other	—			—			2,700			42			(3		)	2,739
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	—			—			186			85			—			271
Depreciation and amortization	—			—			94			37			—			131
Cost of sales	—			—			2,980			164			(3		)	3,141
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	8			5			30			12			—			55
Depreciation and amortization	—			1			4			1			—			6
Loss on asset disposals	—			—			4			1			—			5
Operating income (loss)	(8		)	(6		)	263			(5		)	—			244
Other income (expense):
Interest expense, net	—			(17		)	(6		)	(30		)	—			(53		)
Other income, net	—			—			3			—			—			3
Income (loss) from subsidiaries	109			261			(23		)	(24		)	(323		)	—
Income (loss) before income taxes	101			238			237			(59		)	(323		)	194
Income tax expense (benefit)	(2		)	—			—			35			—			33
Net income (loss)	103			238			237			(94		)	(323		)	161
Less: Net income attributable to noncontrolling interest	—			—			81			(23		)	—			58
Net income (loss) attributable to CVR Energy stockholders	$	103		$	238		$	156		$	(71	)	$	(323	)	$	103

Guarantor Consolidated Statement of Cash Flows

Condensed Consolidated Statement of Cash Flows



	Six Months Ended June 30, 2019
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Elimination			Consolidated
Net cash provided by (used in) operating activities	$	(59	)	$	(8	)	$	391		$	60		$	—		$	384

Cash flows from investing activities:
Capital expenditures	—			(1		)	(48		)	(6		)	—			(55		)
Turnaround expenditures	—			—			(24		)	—			—			(24		)
Investment in affiliates, net of return of investment	512			107			160			27			(806		)	—
Other investing activities	—			—			35			1			—			36
Net cash provided by (used in) investing activities	512			106			123			22			(806		)	(43		)

Cash flows from financing activities:
Dividends to CVR Energy stockholders	(150		)	—			—			—			—			(150		)
Acquisition of CVR Refining common units	(301		)	—			—			—			—			(301		)
Distributions to CVR Partners’ noncontrolling interest holders	—			—			—			(14		)	—			(14		)
Distributions or intercompany advances to other CVR Energy subsidiaries	—			(22		)	(725		)	(59		)	806			—
Other financing activities	—			—			(2		)	(2		)	—			(4		)
Net cash provided by (used in) financing activities	(451		)	(22		)	(727		)	(75		)	806			(469		)
Net increase (decrease) in cash and cash equivalents	2			76			(213		)	7			—			(128		)
Cash and cash equivalents, beginning of period	3			340			261			64			—			668
Cash and cash equivalents, end of period	$	5		$	416		$	48		$	71		$	—		$	540

Condensed Consolidated Statement of Cash Flows



	Six Months Ended June 30, 2018
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Elimination			Consolidated
Net cash provided by (used in) operating activities	$	67		$	(15	)	$	310		$	(125	)	$	1		$	238

Cash flows from investing activities:
Capital expenditures	—			(2		)	(32		)	(9		)	—			(43		)
Turnaround expenditures	—			—			(5		)	—			—			(5		)
Investment in affiliates, net of return of investment	21			444			241			171			(877		)	—
Other investing activities	—			—			(2		)	—			—			(2		)
Net cash provided by (used in) investing activities	21			442			202			162			(877		)	(50		)

Cash flows from financing activities:
Dividends to CVR Energy stockholders	(87		)	—			—			—			—			(87		)
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders	—			—			—			(48		)	—			(48		)
Distributions or intercompany advances to other CVR Energy subsidiaries	—			(337		)	(530		)	(9		)	876			—
Other financing activities	—			—			—			(1		)	—			(1		)
Net cash provided by (used in) financing activities	(87		)	(337		)	(530		)	(58		)	876			(136		)
Net increase (decrease) in cash and cash equivalents	1			90			(18		)	(21		)	—			52
Cash and cash equivalents, beginning of period	4			163			264			51			—			482
Cash and cash equivalents, end of period	$	5		$	253		$	246		$	30		$	—		$	534

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents (including $69 and $415, respectively, of consolidated variable interest entities (VIEs))	$ 540	$ 668
Accounts receivable (including $23 and $169, respectively, of VIEs)	168	169
Due from parent	0	4
Inventories (including $56 and $380, respectively, of VIEs)	390	380
Prepaid expenses and other current assets (including $6 and $56, respectively, of VIEs)	59	72
Total current assets	1,157	1,293
Property, plant and equipment, net of accumulated depreciation and amortization (including $979 and $2,414, respectively, of VIEs)	2,376	2,430
Other long-term assets (including $57 and $270, respectively, of VIEs)	297	277
Total assets	3,830	4,000
Current liabilities:
Accounts payable (including $21 and $317, respectively, of VIEs)	323	320
Other current liabilities (including $32 and $154, respectively, of VIEs)	159	176
Total current liabilities	482	496
Long-term debt and finance lease obligations (including $631 and $1,167, respectively, of VIEs)	1,190	1,167
Deferred income taxes	401	380
Other long-term liabilities (including $12 and $7, respectively, of VIEs)	51	14
Total long-term liabilities	1,642	1,561
Commitments and contingencies (See Note 11)
CVR stockholders’ equity:
Common stock $0.01 par value per share, 350,000,000 shares authorized, 100,629,209 shares issued	1	1
Additional paid-in-capital	1,506	1,474
Accumulated deficit	(121)	(187)
Treasury stock, 98,610 shares at cost	(2)	(2)
Total CVR stockholders’ equity	1,384	1,286
Noncontrolling interest	322	657
Total equity	1,706	1,943
Total liabilities and equity	$ 3,830	$ 4,000

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($) $ in Millions	Total	Total CVR Stockholders’ Equity	$0.01 Par Value Common Stock	Additional Paid-In Capital	Accumulated Deficit	Treasury Stock	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2017			86,929,660
Beginning balance at Dec. 31, 2017	$ 1,823	$ 988	$ 1	$ 1,197	$ (208)	$ (2)	$ 835
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(43)	(43)			(43)
Distributions from CVR Partners to its public unitholders	(23)						(23)
Other	(1)	(1)			(1)
Net income	93	60			60		33
Ending balance (in shares) at Mar. 31, 2018			86,929,660
Ending balance at Mar. 31, 2018	1,849	1,004	$ 1	1,197	(192)	(2)	845
Beginning balance (in shares) at Dec. 31, 2017			86,929,660
Beginning balance at Dec. 31, 2017	1,823	988	$ 1	1,197	(208)	(2)	835
Increase (Decrease) in Stockholders' Equity
Net income	161
Ending balance (in shares) at Jun. 30, 2018			86,929,660
Ending balance at Jun. 30, 2018	1,783	939	$ 1	1,197	(257)	(2)	844
Beginning balance (in shares) at Mar. 31, 2018			86,929,660
Beginning balance at Mar. 31, 2018	1,849	1,004	$ 1	1,197	(192)	(2)	845
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(109)	(109)			(109)
Distributions from CVR Partners to its public unitholders	(25)						(25)
Other	0	1			1		(1)
Net income	68	43			43		25
Ending balance (in shares) at Jun. 30, 2018			86,929,660
Ending balance at Jun. 30, 2018	1,783	939	$ 1	1,197	(257)	(2)	844
Beginning balance (in shares) at Dec. 31, 2018			100,629,209
Beginning balance at Dec. 31, 2018	1,943	1,286	$ 1	1,474	(187)	(2)	657
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(75)	(75)			(75)
Distributions from CVR Partners to its public unitholders	(9)						(9)
Additional paid-in capital of CVR Refining units	(335)	(1)		(1)			(334)
Other	(2)	(2)		(1)	(1)
Net income	102	101			101		1
Ending balance (in shares) at Mar. 31, 2019			100,629,209
Ending balance at Mar. 31, 2019	1,658	1,343	$ 1	1,506	(162)	(2)	315
Beginning balance (in shares) at Dec. 31, 2018			100,629,209
Beginning balance at Dec. 31, 2018	1,943	1,286	$ 1	1,474	(187)	(2)	657
Increase (Decrease) in Stockholders' Equity
Net income	230
Ending balance (in shares) at Jun. 30, 2019			100,629,209
Ending balance at Jun. 30, 2019	1,706	1,384	$ 1	1,506	(121)	(2)	322
Beginning balance (in shares) at Mar. 31, 2019			100,629,209
Beginning balance at Mar. 31, 2019	1,658	1,343	$ 1	1,506	(162)	(2)	315
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(75)	(75)			(75)
Distributions from CVR Partners to its public unitholders	(5)						(5)
Net income	128	116			116		12
Ending balance (in shares) at Jun. 30, 2019			100,629,209
Ending balance at Jun. 30, 2019	$ 1,706	$ 1,384	$ 1	$ 1,506	$ (121)	$ (2)	$ 322

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

+ Details

Revenue - Revenue Disaggregated by Major Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,687	$ 1,914	$ 3,173	$ 3,451
Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,678	1,882	3,138	3,384
Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	816	896	1,490	1,608
Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	689	832	1,344	1,484
Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	50	28	63	40
UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	74	51	138	104
Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	5	5	10	10
Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	13	13	26	26
Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	31	57	67	112
Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	6	31	29	64
Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	3	1	6	3
Operating Segments \| Petroleum
Disaggregation of Revenue [Line Items]
Total revenue	1,552	1,824	2,949	3,282
Operating Segments \| Petroleum \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,545	1,792	2,918	3,215
Operating Segments \| Petroleum \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	816	896	1,490	1,608
Operating Segments \| Petroleum \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	689	832	1,344	1,484
Operating Segments \| Petroleum \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Petroleum \| UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Petroleum \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Petroleum \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	6	6	11	11
Operating Segments \| Petroleum \| Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	34	58	73	112
Operating Segments \| Petroleum \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	6	31	29	64
Operating Segments \| Petroleum \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	1	1	2	3
Operating Segments \| Nitrogen Fertilizer
Disaggregation of Revenue [Line Items]
Total revenue	138	93	230	173
Operating Segments \| Nitrogen Fertilizer \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	136	93	226	173
Operating Segments \| Nitrogen Fertilizer \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Nitrogen Fertilizer \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Nitrogen Fertilizer \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	50	28	63	40
Operating Segments \| Nitrogen Fertilizer \| UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	74	51	138	104
Operating Segments \| Nitrogen Fertilizer \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	5	5	10	10
Operating Segments \| Nitrogen Fertilizer \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	7	7	15	15
Operating Segments \| Nitrogen Fertilizer \| Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	2	0	4
Operating Segments \| Nitrogen Fertilizer \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Nitrogen Fertilizer \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	2	0	4	0
Other / Eliminations
Disaggregation of Revenue [Line Items]
Total revenue	(3)	(3)	(6)	(4)
Other / Eliminations \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	(3)	(3)	(6)	(4)
Other / Eliminations \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	(3)	(3)	(6)	(4)
Other / Eliminations \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	$ 0	$ 0	$ 0	$ 0

Organization and Nature of Business	6 Months Ended
Organization and Nature of Business	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Business	(1) Organization and Nature of Business Organization CVR Energy, Inc. (“CVR Energy,” “CVR,” “we,” “us,” “our,” or the “Company”) is a diversified holding company primarily engaged in the petroleum refining and nitrogen fertilizer manufacturing industries through its holdings in CVR Refining, LP (the “Petroleum Segment” or “CVR Refining”) and CVR Partners, LP (the “Nitrogen Fertilizer Segment” or “CVR Partners”). CVR Refining is an independent petroleum refiner and marketer of high value transportation fuels. CVR Partners produces and markets nitrogen fertilizers in the form of urea ammonium nitrate (“UAN”) and ammonia. The Company’s operations include two business segments: the Petroleum Segment and the Nitrogen Fertilizer Segment. 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 71% of the Company’s outstanding common shares as of June 30, 2019. CVR Refining, LP On January 17, 2019, the general partner of CVR Refining assigned to the Company its right to purchase all of the issued and outstanding CVR Refining common units not already owned by CVR Refining’s general partner or its affiliates. On January 29, 2019, the Company purchased all remaining CVR Refining common units not already owned by the Company or its affiliates for a cash purchase price of $10.50 per unit (the “Call Price”), or approximately $241 million in the aggregate (the “Public Unit Purchase”). In conjunction with the exercise of its call right for all CVR Refining common units not already owned by the Company or its affiliates, the Company entered into a purchase agreement with American Entertainment Properties Corporation (“AEP”) and IEP, pursuant to which, on January 29, 2019, all of the Common Units held by AEP and IEP were purchased by the Company for a cash price per unit equal to the Call Price, or approximately $60 million in the aggregate (the “Affiliate Unit Purchase” together with the Public Unit Purchase, the “CVRR Unit Purchase”). The total purchase price of $301 million was funded with approximately $105 million in borrowings under a new credit agreement entered into by the Company on January 29, 2019, with the remaining amount being funded from the Company’s cash on hand. Amounts drawn under the new credit agreement were fully repaid in February 2019. See Note 7 (“Long-Term Debt and Finance Lease Obligations”) for further information on the credit agreement. The consolidated results of operations and financial position of CVR Refining are reflected as CVR’s Petroleum Segment. Following this transaction, CVR Refining became a wholly-owned subsidiary of the Company and therefore is no longer accounted for as a variable interest entity. Effective February 8, 2019, CVR Refining’s reporting obligations under the Exchange Act were suspended. Upon the closing of the CVRR Unit Purchase, the Company, and certain of the Company’s subsidiaries, executed a full and unconditional guarantee of CVR Refining’s Senior Notes due 2022 (the “2022 Senior Notes”). Pursuant to SEC regulations, the Company has elected to provide condensed consolidating financial statements in lieu of providing standalone CVR Refining financial statements. See Note 15 (“Guarantor Financial Information”) for further discussion and the condensed consolidated financial statements. CVR Partners, LP As of June 30, 2019, public security holders held approximately 66% of CVR Partners’ outstanding common units, and Coffeyville Resources, LLC (“CRLLC”), a wholly-owned subsidiary of CVR Energy, held approximately 34% of CVR Partners’ outstanding common units. In addition, CRLLC owns 100% of CVR Partners’ general partner, CVR GP, LLC, which holds a non-economic general partner interest. The noncontrolling interest reflected on the condensed consolidated balance sheets of CVR is impacted by the net income of, and distributions from, CVR Partners.

Related Party Transactions - Expenses from Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Related Party Transaction [Line Items]
Cost of materials and other	$ 1,267	$ 1,560	$ 2,368	$ 2,739
Enable \| Joint Venture Transportation Agreement
Related Party Transaction [Line Items]
Cost of materials and other	$ 3	$ 2	$ 5	$ 3

Leases - Remaining Minimum Lease Payments (Details) $ in Millions	Jun. 30, 2019 USD ($)
Operating Leases
Remainder of 2019	$ 8
2020	14
2021	12
2022	9
2023	6
Thereafter	4
Total lease payments	53
Less: imputed interest	(7)
Lease liability	46
Financing Leases
Remainder of 2019	5
2020	11
2021	11
2022	11
2023	10
Thereafter	53
Total lease payments	101
Less: imputed interest	(33)
Lease liability	$ 68

Revenue

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue

(8) Revenue

The following tables present the Company’s revenue disaggregated by major product. The following tables include a reconciliation of the disaggregated revenue with the Company’s reportable segments.



	Three Months Ended June 30, 2019
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
Major Product
Gasoline	$	816	$	—	$	—		$	816
Distillates (1)	689		—		—			689
Ammonia	—		50		—			50
UAN	—		74		—			74
Other urea products	—		5		—			5
Freight revenue	6		7		—			13
Other (2)	34		—		(3		)	31
Revenue from product sales	1,545		136		(3		)	1,678

Crude oil sales	6		—		—			6
Other revenue (2)	1		2		—			3
Total revenue	$	1,552	$	138	$	(3	)	$	1,687



	Six Months Ended June 30, 2019
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
Major Product
Gasoline	$	1,490	$	—	$	—		$	1,490
Distillates (1)	1,344		—		—			1,344
Ammonia	—		63		—			63
UAN	—		138		—			138
Other urea products	—		10		—			10
Freight revenue	11		15		—			26
Other (2)	73		—		(6		)	67
Revenue from product sales	2,918		226		(6		)	3,138

Crude oil sales	29		—		—			29
Other revenue (2)	2		4		—			6
Total revenue	$	2,949	$	230	$	(6	)	$	3,173



	Three Months Ended June 30, 2018
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
Major Product
Gasoline	$	896	$	—	$	—		$	896
Distillates (1)	832		—		—			832
Ammonia	—		28		—			28
UAN	—		51		—			51
Other urea products	—		5		—			5
Freight revenue	6		7		—			13
Other (2)	58		2		(3		)	57
Revenue from product sales	1,792		93		(3		)	1,882

Crude oil sales	31		—		—			31
Other revenue (2)	1		—		—			1
Total revenue	$	1,824	$	93	$	(3	)	$	1,914



	Six Months Ended June 30, 2018
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
Major Product
Gasoline	$	1,608	$	—	$	—		$	1,608
Distillates (1)	1,484		—		—			1,484
Ammonia	—		40		—			40
UAN	—		104		—			104
Other urea products	—		10		—			10
Freight revenue	11		15		—			26
Other (2)	112		4		(4		)	112
Revenue from product sales	3,215		173		(4		)	3,384

Crude oil sales	64		—		—			64
Other revenue (2)	3		—		—			3
Total revenue	$	3,282	$	173	$	(4	)	$	3,451


(1)	Distillates consist primarily of diesel fuel, kerosene and jet fuel.


(2)	Other revenue consists primarily of feedstock and asphalt sales and Cushing, OK storage tank lease revenue. See Note 5 (“Property, Plant and Equipment”) for further discussion on the Cushing, OK storage tanks.

Petroleum Segment

The Petroleum Segment’s revenue from product sales is recorded upon delivery of the products to customers, which is the point at which title is transferred and the customer has assumed the risk of loss. This generally takes place as product passes into the pipeline, as a product transfer order occurs within a pipeline system, or as product enters equipment or locations supplied or designated by the customer. The Petroleum Segment has elected to apply the sales tax practical expedient, whereby qualifying excise and other taxes collected from customers and remitted to governmental authorities are not included in reported revenues.

Many of the Petroleum Segment’s contracts have index-based pricing which is considered variable consideration that should be estimated in determining the transaction price. The Petroleum Segment determined that it does not need to estimate the variable consideration because the uncertainty related to the consideration is resolved on the pricing date or the date when the product is delivered.

The Petroleum Segment may incur broker commissions or transportation costs prior to product transfer on some of its sales. The Petroleum Segment has elected to apply the practical expedient allowing it to expense the broker costs since the contract durations are less than a year in length. Transportation costs are accounted for as fulfillment costs and are expensed as incurred since they do not meet the requirement for capitalization.

The Petroleum Segment’s contracts with its customers state the terms of the sale, including the description, quantity, and price of each product sold. Depending on the product sold, payment from customers is generally due in full within 2 to 32 days of product delivery or invoice date. The Petroleum Segment’s contracts with customers commonly include a provision which states that the Petroleum Segment will accept customer returns of off-spec product and refund the customer (or provide on-spec product). Typically, if the customer is not satisfied with the product, the price is adjusted downward instead of the product being returned or exchanged. The Petroleum Segment has determined that product returns or refunds are very rare and will account for them as they occur. The Petroleum Segment generally provides no warranty other than the implicit promise that goods delivered are free of liens and encumbrances and meet the agreed upon specification.

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. An offsetting expense is included in Cost of materials and other.

Nitrogen Fertilizer Segment

The Nitrogen Fertilizer Segment sells its products on a wholesale basis under a contract or by purchase order. The Nitrogen Fertilizer Segment’s contracts with customers, including purchase orders, generally contain fixed pricing and most have terms of less than one year. The Nitrogen Fertilizer Segment 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 Nitrogen Fertilizer Segment’s manufacturing facilities, at one of the Nitrogen Fertilizer Segment’s off-site loading facilities, or at the customer’s designated facility. Freight revenue recognized by the nitrogen fertilizer segment represents the pass-through finished goods delivery costs incurred prior to customer acceptance and is reimbursed by customers. An offsetting expense for freight is included in Cost of materials and other. 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 Nitrogen Fertilizer Segment 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 Nitrogen Fertilizer Segment does not record a specific warranty reserve or consider activities related to such warranty, if any, to be a separate performance obligation.

The Nitrogen Fertilizer Segment has an immaterial amount of variable consideration for contracts with an original duration of less than a year. A small portion of the Nitrogen Fertilizer Segment’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 Nitrogen Fertilizer Segment’s contracts do not contain a significant financing component.

The Nitrogen Fertilizer Segment has an immaterial amount of 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, 2019, CVR Partners had approximately $8 million of remaining performance obligations for contracts with an original expected duration of more than one year. CVR Partners expects to recognize approximately 29% of these performance obligations as revenue by the end of 2019, an additional 36% by 2020 and the remaining balance thereafter.

Contract balances

The Nitrogen Fertilizer Segment’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. At June 30, 2019, $7 million of the deferred revenue balance pertained to prepaid contracts where the associated receivable was recognized as it had not yet been collected by the Partnership.

A summary of CVR Partners’ deferred revenue activity during the six months ended June 30, 2019 is presented below:



(in millions)
Balance at December 31, 2018	$	69
Add:
New prepay contracts entered into during the period	16
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	68
Revenue recognized related to contracts entered into during the period	8
Balance at June 30, 2019	$	9

Business Segments - Summary of Operating Results and Capital Expenditures by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 1,687	$ 1,914	$ 3,173	$ 3,451
Operating Income	192	107	352	244
Interest expense, net	(26)	(26)	(52)	(53)
Other income, net	3	2	6	3
Income (loss) before income taxes	169	83	306	194
Depreciation and amortization	78	71	145	137
Capital expenditures	22	23	46	42
Total Assets	3,830		3,830		$ 4,079	$ 4,000
Operating Segments \| Petroleum
Segment Reporting Information [Line Items]
Net sales	1,552	1,824	2,949	3,282
Operating Income	163	113	319	256
Depreciation and amortization	52	49	101	97
Capital expenditures	17	15	38	29
Total Assets	2,833		2,833			2,453
Operating Segments \| Nitrogen Fertilizer
Segment Reporting Information [Line Items]
Net sales	138	93	230	173
Operating Income	35	0	44	(4)
Depreciation and amortization	25	20	42	37
Capital expenditures	2	7	5	11
Total Assets	1,190		1,190			1,254
Other
Segment Reporting Information [Line Items]
Net sales	(3)	(3)	(6)	(4)
Operating Income	(6)	(6)	(11)	(8)
Depreciation and amortization	1	2	2	3
Capital expenditures	3	$ 1	3	$ 2
Total Assets	$ (193)		$ (193)			$ 293

Revenue - Additional information (Details) $ in Millions	6 Months Ended
Revenue - Additional information (Details) $ in Millions	Jun. 30, 2019 USD ($)
CVR Partners
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 8
Prepaid contracts where payment has not yet been collected	$ 7
Petroleum \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	2 days
Petroleum \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	32 days
Nitrogen Fertilizer \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	15 days
Nitrogen Fertilizer \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	30 days

Related Party Transactions - Summary of Dividends Paid (Details) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended				6 Months Ended
	Aug. 12, 2019	Jul. 24, 2019	May 13, 2019	Mar. 11, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Related Party Transaction [Line Items]
Dividend Per Share (in dollars per share)			$ 0.0075	$ 0.0075					$ 0.0150
Dividends Paid			$ 75	$ 75					$ 150	$ 87
Dividends declared (in dollars per share)					$ 0.75		$ 0.75		$ 1.50	$ 1.25
Dividends declared					$ 75	$ 75	$ 109	$ 43
CVR Partners
Related Party Transaction [Line Items]
Dividends Per Common Unit (in dollars per share)			$ 0.07	$ 0.12					$ 0.19
Distribution Paid			$ 8	$ 14					$ 22
CVR Energy \| CVR Partners
Related Party Transaction [Line Items]
Distribution Paid			3	5					8
Forecast \| CVR Energy \| CVR Partners
Related Party Transaction [Line Items]
Distribution Paid	$ 5
Subsequent Event
Related Party Transaction [Line Items]
Dividends declared (in dollars per share)		$ 0.75
Dividends declared		$ 75
Subsequent Event \| CVR Partners
Related Party Transaction [Line Items]
Distributions declared (in dollars per share)		$ 0.14
Distributions declared		$ 16
IEP
Related Party Transaction [Line Items]
Dividends Paid			54	54					108
IEP \| Forecast
Related Party Transaction [Line Items]
Dividends Paid	$ 54
Stockholders
Related Party Transaction [Line Items]
Dividends Paid			21	21					42
Unitholders \| CVR Partners
Related Party Transaction [Line Items]
Distribution Paid			$ 5	$ 9					$ 14

Recent Accounting Pronouncements and Accounting Changes (Tables)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Effect of accounting standards adoption and accounting changes on financial statements

The following presents the financial statement line items impacted by the turnaround accounting change and the Company’s Topic 842 adoption as of the respective dates.

Effect of Topic 842 Adoption on Condensed Consolidated Balance Sheet as of January 1, 2019



(in millions)	December 31, 2018 As Stated (1)		Effect of Adoption of Topic 842 - Leases (Unaudited)				January 1, 2019 As Adjusted
Current assets:
Prepaid expenses and other current assets	$	72	$	(3	)	(2)	$	69
Total currents assets	1,293		(3		)		1,290
Property, plant and equipment, net of accumulated depreciation	2,430		26			(3)	2,456
Other long-term assets	277		56			(4)	333
Total assets	$	4,000	$	79			$	4,079
Current liabilities:
Other current liabilities	$	176	$	16		(5)	$	192
Total current liabilities	496		16				512
Long-term debt and finance lease obligations	1,167		23			(3)	1,190
Other long-term liabilities	14		40			(5)	54
Total long-term liabilities	1,561		63				1,624
Equity:
Total liabilities and equity	$	4,000	$	79			$	4,079


(1)	Represents the retrospectively adjusted balance sheet amounts upon reflection of the turnaround accounting change, for which the Recast Form 8-K for 2018 was filed on June 12, 2019, prior to the adoption of Topic 842.


(2)	Represents lease prepayments reclassified to ROU assets.


(3)	The additional $26 million right-of-use asset and $23 million in lease liability represents a lease with a third-party that met the definition of a finance lease under ASC 842 as compared to an operating lease under ASC 840.


(4)	Represents recognition of initial ROU assets for operating leases, including the reclassification of certain lease prepayments as noted above.


(5)	Represents the initial recognition of lease liabilities.

Due to the retrospective adjustments for the turnaround accounting change, the three and six months ended June 30, 2018 condensed consolidated statement of operations and the six months ended June 30, 2018 condensed consolidated statement of cash flows have been recast. The impacts to previously reported amounts are shown below only for those line items impacted.

Effect of Turnaround Accounting on Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2018



(in millions)	As Previously Reported		Effect of Turnaround Accounting Change (Unaudited)			As Stated
Condensed Consolidated Statement of Operations
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	$	141	$	(1	)	$	140
Depreciation and amortization	52		16			68
Income tax expense	17		(2		)	15
Net income	79		(11		)	68
Less: Net income attributable to noncontrolling interest	28		(3		)	25
Net income attributable to CVR Energy stockholders	$	51	$	(8	)	$	43

Effect of Turnaround Accounting on Condensed Consolidated Statement of Operations and Condensed Consolidated Statement of Cash Flows for the Six Months Ended June 30, 2018



(in millions)	As Previously Reported			Effect of Turnaround Accounting Change (Unaudited)			As Stated
Condensed Consolidated Statement of Operations
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	$	273		$	(2	)	$	271
Depreciation and amortization	102			29			131
Income tax expense	38			(5		)	33
Net income	183			(22		)	161
Less: Net income attributable to noncontrolling interest	66			(8		)	58
Net income attributable to CVR Energy stockholders	$	117		$	(14	)	$	103

Condensed Consolidated Statement of Cash Flows
Net cash provided by operating activities	$	229		$	9		$	238
Net cash used by investing activities	$	(41	)	$	(9	)	$	(50	)

Leases - Lease Liabilities (Details) $ in Millions	Jan. 01, 2019 USD ($)
Current liabilities:
Operating leases	$ 14
Finance leases	2
Long-term liabilities:
Operating leases	40
Finance leases	23
Total lease liabilities	$ 79

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$ 32	$ 8
Cash paid for interest	52	52
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	3
Financing cash flows from finance leases	3
Non-cash investing activities:
Capital expenditures included in accounts payable	$ 8	$ 8

Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2019

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”). Effective January 1, 2019, the Company revised its accounting policy method for the costs of planned major maintenance activities (turnarounds) specific to the Petroleum Segment from being expensed as incurred (the direct expensing method) to the deferral method. Comparable prior period information has been

recast to reflect this accounting change. The impact of adopting the new policy to account for turnaround expenses is reflected within a Form 8-K dated June 12, 2019, which recast the December 31, 2018 audited information (the “Recast Form 8-K for 2018”). Refer to Note 3 (“Recent Accounting Pronouncements and Accounting Changes”) for additional information. These condensed consolidated financial statements should be read in conjunction with the December 31, 2018 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2018 as well as the Recast Form 8-K for 2018.

Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity.

In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary to fairly present the financial position of the Company as of June 30, 2019 and December 31, 2018, the results of operations of the Company for the three and six months ended June 30, 2019 and 2018, the changes in equity for the three and six months ended June 30, 2019 and 2018, and the cash flows of the Company for the six months ended June 30, 2019 and 2018. Such adjustments are of a normal recurring nature, unless otherwise disclosed.

Certain reclassifications have been made within the condensed consolidated statements of operations for the three and six months ended June 30, 2018 to include gain (loss) on derivatives within the Cost of materials and other financial statement line item to conform with current presentation.

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, 2019 or any other interim or annual period.

Recent Accounting Pronouncements and Accounting Changes

Recent Accounting Pronouncement - Adoption of New Lease Standard

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases” (“ASU 2016-02”), creating a new topic, FASB ASC Topic 842, “Leases” (“Topic 842”), 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 a right-of-use (“ROU”) asset representing its right to use of the underlying asset for the lease term on the condensed consolidated balance sheet. The ROU asset for operating leases is classified as Other long-term assets on the condensed consolidated balance sheet. The current and long-term operating lease liabilities are classified as Other current liabilities and Other long-term liabilities, respectively, on the condensed consolidated balance sheet. The ROU asset for finance leases is classified as Property, plant and equipment, net of accumulated depreciation and amortization on the condensed consolidated balance sheet. The current and long-term finance lease liabilities are classified as Other current liabilities and Long-term debt and finance lease obligations, respectively, on the condensed consolidated balance sheet.

We adopted Topic 842 as of January 1, 2019, electing the option to apply the transition provisions at the adoption date instead of the earliest comparative period presented in the financial statements. In connection with the adoption of Topic 842, we made the following elections:


•	Under the short-term lease exception provided for in Topic 842, only ROU assets and related lease liabilities for leases with a term greater than one year were and will be recognized;


•	The accounting treatment for existing land easements was carried forward;


•	Lease and non-lease components were and will not be bifurcated for all of the Company’s asset groups, respectively; and


•	The portfolio approach was and will be used in the selection of the discount rate used to calculate minimum lease payments and the related ROU asset and operating lease liability amounts.

The Company’s adoption of Topic 842 resulted in the recognition of additional ROU assets and lease liabilities of approximately $56 million as of January 1, 2019, in addition to the recognition of a finance lease asset of $26 million with an

obligation of $23 million. There were no impacts to our condensed consolidated statements of operations or cash flows. See Note 6 (“Leases”) for further discussion.

Accounting Change - Turnaround Expenses

Effective January 1, 2019, the Company revised its accounting policy method for the costs of planned major maintenance activities (turnarounds) specific to the Petroleum Segment from being expensed as incurred (the direct expensing method) to the deferral method. Turnarounds are planned shutdowns of refinery processing units for significant overhaul and refurbishment. Under the deferral method, the costs of turnarounds are deferred and amortized on a straight-line basis over a four-year period of time, which represents the estimated time until the next turnaround occurs. The new method of accounting for turnarounds is considered preferable as it is more consistent with the accounting policy of our peer companies and better reflects the economic substance of the benefits earned from turnaround expenditures. The condensed consolidated balance sheet as of December 31, 2018, the condensed consolidated statement of operations for the three and six months ended June 30, 2018, and the condensed consolidated statement of cash flows for the six months ended June 30, 2018 have been retrospectively adjusted to apply the new method. These turnaround costs, and related accumulated amortization, are included in the condensed consolidated balance sheet as Other long-term assets. The amortization expense related to turnaround costs is included in Depreciation and amortization in the condensed consolidated statement of operations. The Nitrogen Fertilizer Segment will continue to follow the direct expensing method, therefore this change had no impact on the Nitrogen Fertilizer Segment’s current condensed consolidated financial statements.

The policy change for turnaround expenses retrospectively impacted the Company’s December 31, 2018 condensed consolidated balance sheet by increasing total assets by $93 million and total equity by $75 million. The adoption of Topic 842 on January 1, 2019 incrementally impacted the Company’s consolidated balance sheet as of that date. The following presents the financial statement line items impacted by the turnaround accounting change and the Company’s Topic 842 adoption as of the respective dates.

Effect of Topic 842 Adoption on Condensed Consolidated Balance Sheet as of January 1, 2019



(in millions)	December 31, 2018 As Stated (1)		Effect of Adoption of Topic 842 - Leases (Unaudited)				January 1, 2019 As Adjusted
Current assets:
Prepaid expenses and other current assets	$	72	$	(3	)	(2)	$	69
Total currents assets	1,293		(3		)		1,290
Property, plant and equipment, net of accumulated depreciation	2,430		26			(3)	2,456
Other long-term assets	277		56			(4)	333
Total assets	$	4,000	$	79			$	4,079
Current liabilities:
Other current liabilities	$	176	$	16		(5)	$	192
Total current liabilities	496		16				512
Long-term debt and finance lease obligations	1,167		23			(3)	1,190
Other long-term liabilities	14		40			(5)	54
Total long-term liabilities	1,561		63				1,624
Equity:
Total liabilities and equity	$	4,000	$	79			$	4,079


(1)	Represents the retrospectively adjusted balance sheet amounts upon reflection of the turnaround accounting change, for which the Recast Form 8-K for 2018 was filed on June 12, 2019, prior to the adoption of Topic 842.


(2)	Represents lease prepayments reclassified to ROU assets.


(3)	The additional $26 million right-of-use asset and $23 million in lease liability represents a lease with a third-party that met the definition of a finance lease under ASC 842 as compared to an operating lease under ASC 840.


(4)	Represents recognition of initial ROU assets for operating leases, including the reclassification of certain lease prepayments as noted above.


(5)	Represents the initial recognition of lease liabilities.

Effect of Turnaround Accounting on Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2018



(in millions)	As Previously Reported		Effect of Turnaround Accounting Change (Unaudited)			As Stated
Condensed Consolidated Statement of Operations
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	$	141	$	(1	)	$	140
Depreciation and amortization	52		16			68
Income tax expense	17		(2		)	15
Net income	79		(11		)	68
Less: Net income attributable to noncontrolling interest	28		(3		)	25
Net income attributable to CVR Energy stockholders	$	51	$	(8	)	$	43

Effect of Turnaround Accounting on Condensed Consolidated Statement of Operations and Condensed Consolidated Statement of Cash Flows for the Six Months Ended June 30, 2018



(in millions)	As Previously Reported			Effect of Turnaround Accounting Change (Unaudited)			As Stated
Condensed Consolidated Statement of Operations
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	$	273		$	(2	)	$	271
Depreciation and amortization	102			29			131
Income tax expense	38			(5		)	33
Net income	183			(22		)	161
Less: Net income attributable to noncontrolling interest	66			(8		)	58
Net income attributable to CVR Energy stockholders	$	117		$	(14	)	$	103

Condensed Consolidated Statement of Cash Flows
Net cash provided by operating activities	$	229		$	9		$	238
Net cash used by investing activities	$	(41	)	$	(9	)	$	(50	)

New Accounting Standards Issued But Not Yet Implemented

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820). The ASU eliminates such disclosures as the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. Certain disclosures are required to be applied on a retrospective basis and others on a prospective basis. The ASU is effective for the Company beginning January 1, 2020, with early adoption permitted. The Company is evaluating the effect of adopting this new accounting guidance, but does not currently expect adoption will have a material impact on the Company’s disclosures.

In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40). This ASU addresses customer’s accounting for implementation costs incurred in a cloud computing arrangement that is a service contract and also adds certain disclosure requirements related to implementation costs incurred for internal-use software

and cloud computing arrangements. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This standard is effective for the Company beginning January 1, 2020, with early adoption permitted. The amendments in this standard can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is evaluating the effect of adopting this new accounting guidance on its consolidated financial statements, but does not currently expect adoption will have a material impact on the Company’s consolidated financial position or results of operations.

Long-Term Debt and Finance Lease Obligations - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Finance lease obligations	$ 68
Current portion of finance lease obligations		$ (2)
Total Long-Term Debt and Finance Lease Obligations	1,190	$ 1,190	$ 1,167
CVR Partners
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs	(16)		(18)
Total Debt	631		629
CVR Partners \| Senior Notes \| 9.25% Senior Secured Notes due 2023
Debt Instrument [Line Items]
Total long-term debt, before finance lease obligations, debt issuance costs and discount	$ 645		645
Stated interest rate	9.25%
Unamortized debt discount	$ 16
Debt issuance costs	9
Estimated fair value of long-term debt	674		671
CVR Partners \| Senior Notes \| 6.50% Senior Notes due 2021
Debt Instrument [Line Items]
Total long-term debt, before finance lease obligations, debt issuance costs and discount	$ 2		2
Stated interest rate	6.50%
CVR Refining
Debt Instrument [Line Items]
Finance lease obligations	$ 67
Finance lease obligations			44
Unamortized discount and debt issuance costs	(3)		(3)
Current portion of finance lease obligations	(5)
Current portion of finance lease obligations			(3)
Total Long-Term Debt and Finance Lease Obligations	559		538
CVR Refining \| Senior Notes \| 6.50% Senior Notes due 2022
Debt Instrument [Line Items]
Total long-term debt, before finance lease obligations, debt issuance costs and discount	$ 500		500
Stated interest rate	6.50%
Debt issuance costs	$ 9
Estimated fair value of long-term debt	$ 510		$ 493

Revenue - Deferred Revenue (Details) - CVR Partners $ in Millions	6 Months Ended
	Jun. 30, 2019 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at beginning of period	$ 69
Add:
New prepay contracts entered into during the period	16
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	68
Revenue recognized related to contracts entered into during the period	8
Balance at end of period	$ 9

Derivative Financial Instruments - Schedule of Gains (Losses) on Derivatives (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($) derivative	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) derivative	Jun. 30, 2018 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Total gain on derivatives, net	$ 4	$ 10	$ 20	$ 70
Forward purchases
Derivative Instruments, Gain (Loss) [Line Items]
Total gain on derivatives, net	$ 3	13	$ 20	28
Forward Contracts, RINs
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding positions \| derivative	34,000,000		34,000,000
Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Total gain on derivatives, net	$ 0	(2)	$ 0	44
Commodity Swap
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding positions \| derivative	0		0
Futures
Derivative Instruments, Gain (Loss) [Line Items]
Total gain on derivatives, net	$ 1	$ (1)	$ 0	$ (2)

Leases - Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Leases - Lease Expense (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease expense	$ 4	$ 8
Financing lease expense:
Amortization of ROU	1	3
Interest expense on lease liability	1	3
Short-term lease expense	$ 2	$ 4

Commitments and Contingencies - Renewable Fuel Standards (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Petroleum Segment \| EHS
Loss Contingencies [Line Items]
Expense of renewable identification numbers expense	$ 21	$ 50	$ 33	$ 27

Guarantor Financial Information - Condensed Consolidated Statement of Cash Flows (Details) - USD ($) $ in Millions			6 Months Ended
	May 13, 2019	Mar. 11, 2019	Jun. 30, 2019	Jun. 30, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			$ 384	$ 238
Cash flows from investing activities:
Capital expenditures			(55)	(43)
Turnaround expenditures			(24)	(5)
Investment in affiliates, net of return of investment			0	0
Other investing activities			36	(2)
Net cash provided by (used in) investing activities			(43)	(50)
Cash flows from financing activities:
Dividends to CVR Energy’s stockholders	$ (75)	$ (75)	(150)	(87)
Acquisition of CVR Refining common units			(301)	0
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders			(14)	(48)
Distributions or intercompany advances to other CVR Energy subsidiaries			0	0
Other financing activities			(4)	(1)
Net cash provided by (used in) financing activities			(469)	(136)
Net increase (decrease) in cash and cash equivalents			(128)	52
Cash and cash equivalents, beginning of period			668	482
Cash and cash equivalents, end of period			540	534
Intercompany Elimination
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			0	1
Cash flows from investing activities:
Capital expenditures			0	0
Turnaround expenditures			0	0
Investment in affiliates, net of return of investment			(806)	(877)
Other investing activities			0	0
Net cash provided by (used in) investing activities			(806)	(877)
Cash flows from financing activities:
Dividends to CVR Energy’s stockholders			0	0
Acquisition of CVR Refining common units			0
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders			0	0
Distributions or intercompany advances to other CVR Energy subsidiaries			806	876
Other financing activities			0	0
Net cash provided by (used in) financing activities			806	876
Net increase (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents, beginning of period			0	0
Cash and cash equivalents, end of period			0	0
Parent \| Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			(59)	67
Cash flows from investing activities:
Capital expenditures			0	0
Turnaround expenditures			0	0
Investment in affiliates, net of return of investment			512	21
Other investing activities			0	0
Net cash provided by (used in) investing activities			512	21
Cash flows from financing activities:
Dividends to CVR Energy’s stockholders			(150)	(87)
Acquisition of CVR Refining common units			(301)
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders			0	0
Distributions or intercompany advances to other CVR Energy subsidiaries			0	0
Other financing activities			0	0
Net cash provided by (used in) financing activities			(451)	(87)
Net increase (decrease) in cash and cash equivalents			2	1
Cash and cash equivalents, beginning of period			3	4
Cash and cash equivalents, end of period			5	5
Subsidiary Issuer \| Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			(8)	(15)
Cash flows from investing activities:
Capital expenditures			(1)	(2)
Turnaround expenditures			0	0
Investment in affiliates, net of return of investment			107	444
Other investing activities			0	0
Net cash provided by (used in) investing activities			106	442
Cash flows from financing activities:
Dividends to CVR Energy’s stockholders			0	0
Acquisition of CVR Refining common units			0
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders			0	0
Distributions or intercompany advances to other CVR Energy subsidiaries			(22)	(337)
Other financing activities			0	0
Net cash provided by (used in) financing activities			(22)	(337)
Net increase (decrease) in cash and cash equivalents			76	90
Cash and cash equivalents, beginning of period			340	163
Cash and cash equivalents, end of period			416	253
Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			391	310
Cash flows from investing activities:
Capital expenditures			(48)	(32)
Turnaround expenditures			(24)	(5)
Investment in affiliates, net of return of investment			160	241
Other investing activities			35	(2)
Net cash provided by (used in) investing activities			123	202
Cash flows from financing activities:
Dividends to CVR Energy’s stockholders			0	0
Acquisition of CVR Refining common units			0
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders			0	0
Distributions or intercompany advances to other CVR Energy subsidiaries			(725)	(530)
Other financing activities			(2)	0
Net cash provided by (used in) financing activities			(727)	(530)
Net increase (decrease) in cash and cash equivalents			(213)	(18)
Cash and cash equivalents, beginning of period			261	264
Cash and cash equivalents, end of period			48	246
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by (used in) operating activities			60	(125)
Cash flows from investing activities:
Capital expenditures			(6)	(9)
Turnaround expenditures			0	0
Investment in affiliates, net of return of investment			27	171
Other investing activities			1	0
Net cash provided by (used in) investing activities			22	162
Cash flows from financing activities:
Dividends to CVR Energy’s stockholders			0	0
Acquisition of CVR Refining common units			0
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders			(14)	(48)
Distributions or intercompany advances to other CVR Energy subsidiaries			(59)	(9)
Other financing activities			(2)	(1)
Net cash provided by (used in) financing activities			(75)	(58)
Net increase (decrease) in cash and cash equivalents			7	(21)
Cash and cash equivalents, beginning of period			64	51
Cash and cash equivalents, end of period			$ 71	$ 30

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(11) Commitments and Contingencies Except as described below, there have been no material changes in the Company’s commitments and contingencies disclosed in the 2018 Form 10-K, the Recast Form 8-K for 2018, or Form 10-Q for the quarter ended March 31, 2019. In the ordinary course of business, the Company may become party to lawsuits, administrative proceedings and governmental investigations, including environmental, regulatory, and other matters. The outcome of these matters cannot always be predicted accurately, but the Company accrues liabilities for these matters if the Company has determined that it is probable a loss has been incurred and the loss can be reasonably estimated. While it is not possible to predict the outcome of such proceedings, if one or more of them were decided against us, the Company believes there would be no material impact on its consolidated financial statements. Crude Oil Supply Agreement On August 31, 2012, an indirect, wholly-owned subsidiary of the Petroleum Segment and Vitol Inc. (“Vitol”) entered into an Amended and Restated Crude Oil Supply Agreement (as amended, the “Crude Oil Supply Agreement”). Under the Crude Oil Supply Agreement, Vitol supplies the Petroleum Segment with crude oil and intermediation logistics helping to reduce the amount of inventory held at a certain point and mitigate crude oil pricing risk. Volumes contracted under the Crude Oil Supply Agreement, as a percentage of the total crude oil purchases (in barrels), was approximately 40% and 44% for the three months ended June 30, 2019 and 2018, respectively, and 40% and 40% for the six months ended June 30, 2019 and 2018, respectively. The Crude Oil Supply Agreement automatically renews for successive one-year terms (each such term, a “Renewal Term”) unless either party provides the other with notice of nonrenewal at least 180 days prior to expiration of any Renewal Term. Renewable Fuel Standard (“RFS”) The Petroleum Segment is subject to the RFS of the Environmental Protection Agency (“EPA”) that require refiners to either blend “renewable fuels” in with their transportation fuels or purchase renewable fuel credits, known as renewable identification numbers (“RINs”), in lieu of blending. The Petroleum Segment is not able to blend the substantial majority of its transportation fuels and has to purchase RINs on the open market, as well as obtain waiver credits for cellulosic biofuels from the EPA in order to comply with the RFS. The Company recognized expense of approximately $21 million and $50 million for the three months ended June 30, 2019 and 2018, respectively, for the Petroleum Segment‘s compliance with RFS. The Company recognized expense of approximately $33 million and $27 million for the six months ended June 30, 2019 and 2018, respectively, for the Petroleum Segment‘s compliance with RFS. The expense recognized was included within Cost of materials and other in the condensed consolidated statements of operations. The Company’s costs to comply with the RFS include the purchased cost of RINs, the impact of recognizing the Petroleum Segment‘s uncommitted biofuel blending obligation at fair value based on market prices at each reporting date, and the valuation change of RINs purchases in excess of its RFS obligation as of the reporting date. Litigation The U.S. Attorney’s office for the Southern District of New York contacted CVR Energy in September 2017 seeking production of information pertaining to CVR Refining’s, CVR Energy’s and Mr. Carl C. Icahn’s activities relating to the RFS and Mr. Icahn’s former role as an advisor to the President. We cooperated with the request and provided information in response to the subpoena. The U.S. Attorney’s office has not made any claims or allegations against us or Mr. Icahn. We maintain a strong compliance program and, while no assurances can be made, we do not believe this inquiry will have a material impact on its business, financial condition, results of operations or cash flows. In 2008, Coffeyville Resources Nitrogen Fertilizer LLC (“CRNF”), a subsidiary of CVR Partners LP, protested the reclassification and reassessment by Montgomery County, Kansas (the “County”) of CRNF’s nitrogen fertilizer plant following expiration of its ten year property tax abatement that expired on December 31, 2007, which reclassification and reassessment resulted in an increase in CRNF’s annual property tax expense in excess of $10 million per year for the 2008 through 2012 tax years. Despite its protest, CRNF fully accrued and paid these property taxes. In February 2013, the County and CRNF agreed to a settlement for tax years 2009 through 2012 which resulted in decreased property taxes through 2017, leaving 2008 in dispute. In 2013, the Kansas Court of Appeals overturned an adverse ruling of the Kansas Board of Tax Appeals (“BOTA”) and instructed BOTA to classify each CRNF asset on an asset-by-asset basis. In March 2015, BOTA concluded its classification and determined a substantial majority of CRNF’s assets in dispute were personal property for the 2008 tax year. In September 2018, the Kansas Court of Appeals upheld BOTA’s property tax determinations in CRNF’s favor. In October 2018, the County petitioned the Kansas Supreme Court to review the Court of Appeals determination. Subsequent briefs were filed by CRNF and the County. In April 2019, CRNF and the County executed an agreement under which the County agreed to withdraw its petition to the Kansas Supreme Court and CRNF is expected to recover $7.9 million through favorable property tax assessments from 2019 through 2028, subject to the terms of the settlement agreement. During 2019, CVR Energy, CVR Refining, CVR Refining Holdings, IEP, and certain directors and affiliates have been named in nine lawsuits filed in the Court of Chancery of the State of Delaware (“Chancery Court”) by purported former unitholders of CVR Refining, on behalf of themselves and an alleged class of similarly situated unitholders (the “Call Option Lawsuits”). The Call Option Lawsuits primarily allege breach of contract, tortious interference and breach of the implied covenant of good faith and fair dealing and seek monetary damages and attorneys’ fees, among other remedies, relating to the Company’s exercise of the call option under the CVR Refining Amended and Restated Agreement of Limited Partnership assigned to it by CVR Refining’s general partner. The Call Option Lawsuits have been consolidated in Chancery Court and are in the early stages of litigation. The Company believes the Call Option Lawsuits are without merit and intends to vigorously defend against them.

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 34,000,000
Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	34,000,000
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 34,000,000

Leases - Lease Terms and Discount Rates (Details)	Jun. 30, 2019	Jan. 01, 2019
Weighted-average remaining lease term (years)
Operating Leases	4 years 2 months 12 days	4 years 4 months 24 days
Finance Leases	10 years 1 month 6 days	10 years 3 months 18 days
Weighted-average discount rate
Operating Leases	5.90%	5.80%
Finance Leases	9.60%	9.80%

Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases

(6) Leases

Lease Overview

We lease certain pipelines, storage tanks, railcars, office space, land, and equipment across our refining, fertilizer and corporate operations. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to 20 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements is limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Certain of our lease agreements include rental payments adjusted periodically

for factors such as inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Additionally, we do not have any material lessor or sub-leasing arrangements.

The adoption of Topic 842 impacted our January 1, 2019 condensed consolidated balance sheet as shown below only for those line items impacted.

Effect of Initial Adoption of Topic 842 - January 1, 2019

ROU Assets. As of January 1, 2019, upon initial recognition, our ROU assets for operating and finance leases were comprised of the following:



(in millions)	January 1, 2019 (initial recognition)
Pipeline and storage agreements (1)	$	29
Railcar leases (2)	15
Real Estate and other leases (3)	35
Total ROU assets	$	79

(1) Includes finance leased assets of $1 million as of January 1, 2019.

(2) Includes $14 million of railcar leases recognized by CVR Partners.

(3) Includes finance leased assets of $25 million as of January 1, 2019.

Lease Liabilities. As of January 1, 2019, upon initial recognition, our lease liabilities for operating and finance leases were comprised of the following:



(in millions)	January 1, 2019 (initial recognition)
Current liabilities:
Operating leases	$	14
Finance leases	2
Long-term liabilities:
Operating leases	40
Finance leases	23
Total lease liabilities	$	79

Balance Sheet Summary as of June 30, 2019

The following tables summarize the right of use asset and lease liability balances for the Company’s operating and finance leases at June 30, 2019:



(in millions)	June 30, 2019
Operating Leases:
ROU assets, net
Pipeline and storage	$	24
Railcars	13
Real estate and other	10
Lease liability
Pipelines and storage	$	25
Railcars	13
Real estate and other	8



(in millions)	June 30, 2019
Financing Leases:
ROU assets, net
Pipeline and storage	$	31
Real estate and other	26
Lease liability
Pipelines and storage	$	42
Real estate and other	26

Lease Expense Summary for the Three and Six Months Ended June 30, 2019

We recognize lease expense for these leases on a straight-line basis over the lease term. For the three and six months ended June 30, 2019, we recognized net lease expense comprised of the following components:



(in millions)	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating lease expense	$	4	$	8
Financing lease expense:
Amortization of ROU	$	1	$	3
Interest expense on lease liability	1		3

Short-term lease expense, recognized within direct operating expenses, was $2 million and $4 million for the three and six months ended June 30, 2019.

Lease Terms and Discount Rates

The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and liabilities:



	June 30, 2019		January 1, 2019 (initial recognition)
Weighted-average remaining lease term (years)
Operating Leases	4.2		4.4
Finance Leases	10.1		10.3
Weighted-average discount rate
Operating Leases	5.9	%	5.8	%
Finance Leases	9.6	%	9.8	%

Maturities of Lease Liabilities

The following summarizes the remaining minimum lease payments through maturity of the Company’s right-of-use assets and liabilities at June 30, 2019:



(in millions)	Operating Leases			Financing Leases
Remainder of 2019	$	8		$	5
2020	14			11
2021	12			11
2022	9			11
2023	6			10
Thereafter	4			53
Total lease payments	53			101
Less: imputed interest	(7		)	(33		)
Total lease liability	$	46		$	68

Leases

(6) Leases

Lease Overview

The adoption of Topic 842 impacted our January 1, 2019 condensed consolidated balance sheet as shown below only for those line items impacted.

Effect of Initial Adoption of Topic 842 - January 1, 2019

ROU Assets. As of January 1, 2019, upon initial recognition, our ROU assets for operating and finance leases were comprised of the following:



(in millions)	January 1, 2019 (initial recognition)
Pipeline and storage agreements (1)	$	29
Railcar leases (2)	15
Real Estate and other leases (3)	35
Total ROU assets	$	79

(1) Includes finance leased assets of $1 million as of January 1, 2019.

(2) Includes $14 million of railcar leases recognized by CVR Partners.

(3) Includes finance leased assets of $25 million as of January 1, 2019.

Lease Liabilities. As of January 1, 2019, upon initial recognition, our lease liabilities for operating and finance leases were comprised of the following:



(in millions)	January 1, 2019 (initial recognition)
Current liabilities:
Operating leases	$	14
Finance leases	2
Long-term liabilities:
Operating leases	40
Finance leases	23
Total lease liabilities	$	79

Balance Sheet Summary as of June 30, 2019

The following tables summarize the right of use asset and lease liability balances for the Company’s operating and finance leases at June 30, 2019:



(in millions)	June 30, 2019
Operating Leases:
ROU assets, net
Pipeline and storage	$	24
Railcars	13
Real estate and other	10
Lease liability
Pipelines and storage	$	25
Railcars	13
Real estate and other	8



(in millions)	June 30, 2019
Financing Leases:
ROU assets, net
Pipeline and storage	$	31
Real estate and other	26
Lease liability
Pipelines and storage	$	42
Real estate and other	26

Lease Expense Summary for the Three and Six Months Ended June 30, 2019



(in millions)	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating lease expense	$	4	$	8
Financing lease expense:
Amortization of ROU	$	1	$	3
Interest expense on lease liability	1		3

Short-term lease expense, recognized within direct operating expenses, was $2 million and $4 million for the three and six months ended June 30, 2019.

Lease Terms and Discount Rates

The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and liabilities:



	June 30, 2019		January 1, 2019 (initial recognition)
Weighted-average remaining lease term (years)
Operating Leases	4.2		4.4
Finance Leases	10.1		10.3
Weighted-average discount rate
Operating Leases	5.9	%	5.8	%
Finance Leases	9.6	%	9.8	%

Maturities of Lease Liabilities

The following summarizes the remaining minimum lease payments through maturity of the Company’s right-of-use assets and liabilities at June 30, 2019:



(in millions)	Operating Leases			Financing Leases
Remainder of 2019	$	8		$	5
2020	14			11
2021	12			11
2022	9			11
2023	6			10
Thereafter	4			53
Total lease payments	53			101
Less: imputed interest	(7		)	(33		)
Total lease liability	$	46		$	68

Related Party Transactions

6 Months Ended

Jun. 30, 2019

Related Party Transactions

(14) Related Party Transactions

Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2019 and 2018 is summarized below:

Expenses from related parties



	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2019		2018		2019		2018
Cost of materials and other
Joint Venture Transportation Agreement:
Enable	$	3	$	2	$	5	$	3

Amounts due from related parties



(in millions)	June 30, 2019		December 31, 2018
Tax Allocation Agreement:
American Entertainment Properties Corporation (“AEP”)	$	—	$	4

Dividends to CVR Energy Stockholders

The following table presents dividends paid to the Company’s stockholders, including IEP, as of June 30, 2019.



				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Share		Stockholders		IEP		Total
2018 - 4th Quarter	March 11, 2019	$	0.75	$	21	$	54	$	75
2019 - 1st Quarter	May 13, 2019	0.75		21		54		75
Total		$	1.50	$	42	$	108	$	150

For the second quarter of 2019, the Company, upon approval by the Company’s board of directors on July 24, 2019, declared a cash dividend of $0.75 per share, or $75 million, which is payable on August 12, 2019 to shareholders of record as of August 5, 2019. Of this amount, IEP will receive $54 million due to its ownership interest in the Company’s shares.

Dividends, if any, including the payment, amount and timing thereof, are subject to change at the discretion of the Board of Directors.

Distributions to CVR Partners’ Unitholders

The following table presents distributions paid by CVR Partners to CVR Partners’ unitholders, including amounts received by the Company, as of June 30, 2019.



				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Common Unit		Unitholders		CVR Energy		Total
2018 - 4th Quarter	March 11, 2019	$	0.12	$	9	$	5	$	14
2019 - 1st Quarter	May 13, 2019	0.07		5		3		8
Total		$	0.19	$	14	$	8	$	22

For the second quarter of 2019, CVR Partners, upon approval by the Board of Directors of CVR Partners’ general partner on July 24, 2019, declared a distribution of $0.14 per common unit, or $16 million, which will be paid on August 12, 2019 to unitholders of record as of August 5, 2019. Of this amount, we will receive approximately $5 million, with the remaining amount payable to public unitholders.

Distributions, if any, including the payment, amount and timing thereof, are subject to change at the discretion of the Board of Directors of CVR Partners’ general partner.

Long-Term Debt and Finance Lease Obligations

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Long-Term Debt and Finance Lease Obligations

(7) Long-Term Debt and Finance Lease Obligations

Long-term debt and finance lease obligations consist of the following:



(in millions)	June 30, 2019			December 31, 2018
CVR Partners:
9.25% Senior Secured Notes due 2023 (1)(3)	$	645		$	645
6.50% Senior Notes due 2021	2			2
Unamortized discount and debt issuance costs	(16		)	(18		)
Total CVR Partners Debt	$	631		$	629

CVR Refining:
6.50% Senior Notes due 2022 (2)(4)	$	500		$	500
Finance lease obligations	67			44
Unamortized debt issuance cost	(3		)	(3		)
Current portion of finance lease obligations	(5		)	(3		)
Total CVR Refining Debt	559			538
Total Long-Term Debt and Finance Lease Obligations	$	1,190		$	1,167


(1)	This debt was issued at a $16 million discount which is being amortized, as interest expense, over the remaining term of the debt. Debt issuance costs associated with this debt totaled $9 million.

(2)

Debt issuance costs associated with this debt totaled $9 million. On January 29, 2019, the 2022 Senior Notes were amended such that CVR Energy was included as the primary guarantor, on a senior unsecured basis, of the 2022 Senior Notes. The CVR Energy guarantee is full and unconditional and joint and several. See Note 13 (“Supplemental Cash Flow Information”) for further discussion and implications of this change to guarantor.


(3)	The estimated fair value of the 9.25% Senior Notes due 2023 was approximately $674 million and $671 million as of June 30, 2019 and December 31, 2018, respectively.


(4)	The estimated fair value of the 2022 Senior Notes was approximately $510 million and $493 million as of June 30, 2019 and December 31, 2018, respectively.

Credit Facilities



(in millions)	Total Capacity		Amount Borrowed as of June 30, 2019		Outstanding Letters of Credit		Available Capacity as of June 30, 2019		Maturity Date
CVR Refining:
Amended and Restated Asset Based (“Amended and Restated ABL”) Credit Facility (1)	$	400	$	—	$	7	$	393	November 14, 2022
CVR Partners:
Asset Based (“AB”) Credit Facility (2)	$	48	$	—	$	—	$	48	September 30, 2021


(1)	Loans under the Amended and Restated ABL Credit Facility initially bear interest at an annual rate equal to (i) 1.50% plus LIBOR or (ii) 0.50% plus a base rate, subject to quarterly excess availability.


(2)	Loans under the AB 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.

Covenant Compliance

The Company is in compliance with all covenants of the Amended and Restated ABL and AB credit facilities and the senior notes as of June 30, 2019.

Revenue - Remaining Performance Obligation (Details) - CVR Partners	Jun. 30, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	29.00%
Remaining performance obligation, expected timing of satisfaction, period	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	36.00%
Remaining performance obligation, expected timing of satisfaction, period	1 year

Recent Accounting Pronouncements and Accounting Changes Recent Accounting Pronouncements and Accounting Changes - Effect of Accounting Standards Adoption and Accounting Changes on Statement of Operations and Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Condensed Consolidated Statement of Operations
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	$ 132		$ 140		$ 258	$ 271
Depreciation and amortization	76		68		141	131
Income tax expense	41		15		76	33
Net income	128	$ 102	68	$ 93	230	161
Less: Net income attributable to noncontrolling interest	12		25		13	58
Net income (loss) attributable to CVR Energy stockholders	$ 116		43		217	103
Condensed Consolidated Statement of Cash Flows
Net cash provided by operating activities					384	238
Net cash used by investing activities					$ (43)	(50)
As Previously Reported
Condensed Consolidated Statement of Operations
Direct operating expenses (exclusive of depreciation and amortization as reflected below)			141			273
Depreciation and amortization			52			102
Income tax expense			17			38
Net income			79			183
Less: Net income attributable to noncontrolling interest			28			66
Net income (loss) attributable to CVR Energy stockholders			51			117
Condensed Consolidated Statement of Cash Flows
Net cash provided by operating activities						229
Net cash used by investing activities						(41)
Effect of Turnaround Accounting Change \| Effect of Turnaround Accounting Change
Condensed Consolidated Statement of Operations
Direct operating expenses (exclusive of depreciation and amortization as reflected below)			(1)			(2)
Depreciation and amortization			16			29
Income tax expense			(2)			(5)
Net income			(11)			(22)
Less: Net income attributable to noncontrolling interest			(3)			(8)
Net income (loss) attributable to CVR Energy stockholders			$ (8)			(14)
Condensed Consolidated Statement of Cash Flows
Net cash provided by operating activities						9
Net cash used by investing activities						$ (9)

Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of related party transactions

Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2019 and 2018 is summarized below:

Expenses from related parties



	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2019		2018		2019		2018
Cost of materials and other
Joint Venture Transportation Agreement:
Enable	$	3	$	2	$	5	$	3

Amounts due from related parties



(in millions)	June 30, 2019		December 31, 2018
Tax Allocation Agreement:
American Entertainment Properties Corporation (“AEP”)	$	—	$	4

Summary of dividends paid

The following table presents distributions paid by CVR Partners to CVR Partners’ unitholders, including amounts received by the Company, as of June 30, 2019.



				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Common Unit		Unitholders		CVR Energy		Total
2018 - 4th Quarter	March 11, 2019	$	0.12	$	9	$	5	$	14
2019 - 1st Quarter	May 13, 2019	0.07		5		3		8
Total		$	0.19	$	14	$	8	$	22

The following table presents dividends paid to the Company’s stockholders, including IEP, as of June 30, 2019.



				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Share		Stockholders		IEP		Total
2018 - 4th Quarter	March 11, 2019	$	0.75	$	21	$	54	$	75
2019 - 1st Quarter	May 13, 2019	0.75		21		54		75
Total		$	1.50	$	42	$	108	$	150

Property, Plant and Equipment (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	May 21, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2019	Dec. 31, 2018
Property, Plant, and Equipment
Total property, plant and equipment, gross		$ 4,115		$ 4,115			$ 4,067
Less: Accumulated depreciation		1,739		1,739			1,637
Total property, plant and equipment, net		2,376		2,376		$ 2,456	2,430
Gain on disposal of property, plant and equipment		9	$ (5)	7	$ (5)
Assets Sold in Purchase and Sale Agreement
Property, Plant, and Equipment
Cash consideration received	$ 43
Gain on disposal of property, plant and equipment	$ 9
Machinery and equipment
Property, Plant, and Equipment
Total property, plant and equipment, gross		3,836		3,836			3,785
Construction in progress
Property, Plant, and Equipment
Total property, plant and equipment, gross		73		73			102
Buildings and improvements
Property, Plant, and Equipment
Total property, plant and equipment, gross		87		87			87
Land and improvements
Property, Plant, and Equipment
Total property, plant and equipment, gross		45		45			43
Furniture and fixtures
Property, Plant, and Equipment
Total property, plant and equipment, gross		33		33			33
ROU finance lease
Property, Plant, and Equipment
Total property, plant and equipment, gross		27		27			0
Other
Property, Plant, and Equipment
Total property, plant and equipment, gross		$ 14		$ 14			$ 17

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Jul. 23, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
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	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100,530,599
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001376139
Amendment Flag	false
Current Fiscal Year End Date	--12-31

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2019

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, 2019 and 2018 is presented below:



	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2019		2018		2019		2018
CVR Energy LTIP - Performance Units Award	$	—	$	1	$	—	$	2
CVR Refining LTIP - Phantom Units Award	1		6		2		7
CVR Partners LTIP - Phantom Units Award	1		1		2		1
Incentive Unit Awards	4		3		7		2
Total Share-Based Compensation Expense	$	6	$	11	$	11	$	12

Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

(13) Supplemental Cash Flow Information

Cash flows related to interest, leases, and capital expenditures included in accounts payable were as follows:



	Six Months Ended June 30,
(in millions)	2019		2018
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$	32	$	8
Cash paid for interest	52		52
Cash paid for amounts included in the measurement of lease liabilities*:
Operating cash flows from finance leases	3
Financing cash flows from finance leases	3
Non-cash investing activities:
Capital expenditures included in accounts payable	8		8

(*)The lease standard was adopted on January 1, 2019 on a prospective basis. Therefore only 2019 disclosures are applicable to be included within the table above.

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 540	$ 668
Accounts receivable	168	169
Inventories	390	380
Prepaid expenses and other current assets	59	72
Property, plant and equipment, net of accumulated depreciation	2,376	2,430
Other long-term assets	297	277
Current liabilities:
Accounts payable	323	320
Other current liabilities	159	176
Long-term liabilities:
Long-term debt and finance lease obligations	1,190	1,167
Other long-term liabilities	$ 51	$ 14
Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	350,000,000	350,000,000
Common stock, issued (in shares)	100,629,209	100,629,209
Treasury stock (in shares)	98,610	98,610
Variable Interest Entities
Current assets:
Cash and cash equivalents	$ 69	$ 415
Accounts receivable	23	169
Inventories	56	380
Prepaid expenses and other current assets	6	56
Property, plant and equipment, net of accumulated depreciation	979	2,414
Other long-term assets	57	270
Current liabilities:
Accounts payable	21	317
Other current liabilities	32	154
Long-term liabilities:
Long-term debt and finance lease obligations	631	1,167
Other long-term liabilities	$ 12	$ 7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 230	$ 161
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	145	137
Deferred income tax expense	21	3
(Gain) loss on disposition of assets	(7)	5
Share-based compensation	11	12
Other non-cash items	4	1
Changes in assets and liabilities:
Current assets and liabilities	(22)	(85)
Non-current assets and liabilities	2	4
Net cash provided by operating activities	384	238
Cash flows from investing activities:
Capital expenditures	(55)	(43)
Turnaround expenditures	(24)	(5)
Proceeds from sale of assets and other investing activities	36	(2)
Net cash provided by (used in) investing activities	(43)	(50)
Cash flows from financing activities:
Acquisition of CVR Refining common units	(301)	0
Dividends to CVR Energy’s stockholders	(150)	(87)
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders	(14)	(48)
Other financing activities	(4)	(1)
Net cash provided by (used in) financing activities	(469)	(136)
Net increase (decrease) in cash and cash equivalents	(128)	52
Cash and cash equivalents, beginning of period	668	482
Cash and cash equivalents, end of period	$ 540	$ 534

Recent Accounting Pronouncements and Accounting Changes - Schedule of Effects of Accounting Standards Adoption and Accounting Changes on Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Prepaid expenses and other current assets	$ 59		$ 69	$ 72
Total currents assets	1,157		1,290	1,293
Property, plant and equipment, net of accumulated depreciation	2,376		2,456	2,430
Other long-term assets	297		333	277
Total assets	3,830		4,079	4,000
Current liabilities:
Other current liabilities	159		192	176
Total current liabilities	482		512	496
Long-term debt and finance lease obligations	1,190		1,190	1,167
Other long-term liabilities	51		54	14
Total long-term liabilities	1,642		1,624	1,561
Equity:
Total equity	1,706	$ 1,658		1,943	$ 1,783	$ 1,849	$ 1,823
Total liabilities and equity	3,830		4,079	4,000
Finance lease, liability	$ 68
Effect of Turnaround Accounting Change \| Effect of Turnaround Accounting Change
Current assets:
Total assets				93
Equity:
Total equity				$ 75
Topic 842
Current assets:
Prepaid expenses and other current assets			(3)
Total currents assets			(3)
Property, plant and equipment, net of accumulated depreciation			26
Other long-term assets			56
Total assets			79
Current liabilities:
Other current liabilities			16
Total current liabilities			16
Long-term debt and finance lease obligations			23
Other long-term liabilities			40
Total long-term liabilities			63
Equity:
Total liabilities and equity			79
Finance lease, right-of-use asset			26
Finance lease, liability			$ 23

Inventories (Tables)

6 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Schedule of components of inventories

Inventories consisted of the following:



(in millions)	June 30, 2019		December 31, 2018
Finished goods	$	184	$	186
Raw materials	103		101
Parts, supplies and other	81		81
In-process inventories	22		12
Total inventories	$	390	$	380

Supplemental Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Schedule of cash flows related to interest, leases, and capital expenditures included in accounts payable

Cash flows related to interest, leases, and capital expenditures included in accounts payable were as follows:



	Six Months Ended June 30,
(in millions)	2019		2018
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$	32	$	8
Cash paid for interest	52		52
Cash paid for amounts included in the measurement of lease liabilities*:
Operating cash flows from finance leases	3
Financing cash flows from finance leases	3
Non-cash investing activities:
Capital expenditures included in accounts payable	8		8

(*)The lease standard was adopted on January 1, 2019 on a prospective basis. Therefore only 2019 disclosures are applicable to be included within the table above.

Share-Based Compensation

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

(10) Share-Based Compensation

A summary of compensation expense during the three and six months ended June 30, 2019 and 2018 is presented below:



	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2019		2018		2019		2018
CVR Energy LTIP - Performance Units Award	$	—	$	1	$	—	$	2
CVR Refining LTIP - Phantom Units Award	1		6		2		7
CVR Partners LTIP - Phantom Units Award	1		1		2		1
Incentive Unit Awards	4		3		7		2
Total Share-Based Compensation Expense	$	6	$	11	$	11	$	12

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Summary of property, plant and equipment

Property, plant and equipment consisted of the following:



(in millions)	June 30, 2019		December 31, 2018
Machinery and equipment	$	3,836	$	3,785
Construction in progress	73		102
Buildings and improvements	87		87
Land and improvements	45		43
Furniture and fixtures	33		33
ROU finance lease	27		—
Other	14		17
	4,115		4,067
Less: Accumulated depreciation	1,739		1,637
Total property, plant and equipment, net	$	2,376	$	2,430

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

(9) Derivative Financial Instruments

Our segments are subject to price fluctuations caused by supply conditions, weather, economic conditions, interest rate fluctuations, and other factors. To manage price risk on crude oil and other inventories and to fix margins on certain future production, the Petroleum Segment from time to time enters into various commodity derivative transactions. The Petroleum Segment holds derivative instruments, such as exchange-traded crude oil futures and certain over-the-counter forward swap agreements, which it believes provide an economic hedge on future transactions, but such instruments are not designated as hedges under GAAP. There are no premiums paid or received at inception of the derivative contracts or upon settlement. The Petroleum Segment may enter into forward purchase or sale contracts associated with renewable identification numbers (“RINs”). As of June 30, 2019, the Petroleum Segment had open commitments to purchase 34 million RINs.

Commodity derivatives include commodity swaps and forward purchase and sale commitments. There were no outstanding commodity swap positions as of June 30, 2019.

The following outlines the gains (losses) recognized on the Company’s derivative activities, all of which are recorded in Cost of materials and other on the condensed consolidated statements of operations:



Gain (Loss) on Derivatives
	Three Months Ended June 30,					Six Months Ended June 30,
(in millions)	2019		2018			2019		2018
Forward purchases	$	3	$	13		$	20	$	28
Swaps	—		(2		)	—		44
Futures	1		(1		)	—		(2		)
Total gain on derivatives, net	$	4	$	10		$	20	$	70

The following outlines our open commodity derivative instruments, which are classified as Prepaid expenses and other current assets and Other current liabilities on the condensed consolidated balance sheets:



Open Commodity Derivative Instruments
(in millions of barrels)	June 30, 2019	December 31, 2018
Forward Contracts:
Canadian crude oil	4	2

Offsetting Assets and Liabilities

The Company elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. These amounts are recognized as current assets and current liabilities within the Prepaid expenses and other current assets and Other current liabilities financial statement line items, respectively, in the condensed consolidated balance sheets as follows:



	Derivative Assets						Derivative Liabilities
(in millions)	June 30, 2019			December 31, 2018			June 30, 2019			December 31, 2018
Commodity Derivatives	$	3		$	8		$	1		$	1
Less: Counterparty Netting	(1		)	(1		)	(1		)	(1		)
Total Net Fair Value of Derivatives	$	2		$	7		$	—		$	—

In accordance with FASB ASC Topic 820 — Fair Value Measurements and Disclosures (“ASC 820”), the Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets, liabilities or a group of assets or liabilities, such as a business.

ASC 820 utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:


•	Level 1 — Quoted prices in active markets for identical assets or liabilities


•	Level 2 — Other significant observable inputs (including quoted prices in active markets for similar assets or liabilities)


•	Level 3 — Significant unobservable inputs (including the Company’s own assumptions in determining the fair value)

The following table sets forth the assets and liabilities measured or disclosed at fair value on a recurring basis, by input level, as of June 30, 2019 and December 31, 2018:



	June 30, 2019
(in millions)	Level 1		Level 2			Level 3		Total
Location and Description
Prepaid expenses and other current assets (investments)	$	—	$	3		$	—	$	3
Total Assets	—		3			—		3
Other current liabilities (Renewable Fuel Standard “RFS” obligation)	—		(16		)	—		(16		)
Total Liabilities	$	—	$	(16	)	$	—	$	(16	)



	December 31, 2018
(in millions)	Level 1		Level 2			Level 3		Total
Location and Description
Prepaid expenses and other current assets (investments)	—		7			—		7
Total Assets	$	—	$	7		$	—	$	7
Other current liabilities (RFS obligation)	—		(2		)	—		(2		)
Total Liabilities	$	—	$	(2	)	$	—	$	(2	)

As of June 30, 2019 and December 31, 2018, the only financial assets and liabilities that are measured at fair value on a recurring basis are the Company’s cash equivalents, investments, derivative instruments, and the RFS obligation. The Petroleum Segment’s commodity derivative contracts and RFS obligation, which use fair value measurements and are valued using broker quoted market prices of similar instruments, are considered Level 2 inputs. The Company had no transfers of assets or liabilities between any of the above levels during the six months ended June 30, 2019.

Guarantor Financial Information

6 Months Ended

Jun. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Guarantor Financial Information

(15) Guarantor Financial Information

CVR Refining’s 2022 Senior Notes are guaranteed on a senior unsecured basis by the Company and certain wholly-owned subsidiaries, including CVR Refining and certain of its subsidiaries (the “Guarantors”). The guarantees are full and unconditional and joint and several among the Guarantors.

The information is presented in accordance with the requirements of Rule 3-10 under the SEC’s Regulation S-X and prepared on the equity basis of accounting. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the Guarantors operated as independent entities. The Company has not presented separate financial and narrative information for each of the Guarantors because it believes such financial and narrative information would not provide any additional information that would be material in evaluating the sufficiency of the Guarantors.

Condensed Consolidated Balance Sheet



	June 30, 2019
(in millions)	Parent		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Intercompany Elimination			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	5	$	416	$	48	$	71		$	—		$	540
Accounts receivable	—		—		145		23			—			168
Due to/from parent	—		—		—		—			—			—
Intercompany receivable	5		—		10		8			(23		)	—
Inventories	—		—		334		56			—			390
Prepaid expenses and other current assets	57		2		2		—			(2		)	59
Total current assets	67		418		539		158			(25		)	1,157
Property, plant and equipment, net of accumulated depreciation	—		1		1,393		982			—			2,376
Investment in and advances from subsidiaries	1,314		1,647		296		—			(3,257		)	—
Other long-term assets	7		4		236		50			—			297
Total assets	$	1,388	$	2,070	$	2,464	$	1,190		$	(3,282	)	$	3,830
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1	$	3	$	301	$	18		$	—		$	323
Intercompany payables	—		—		—		23			(23		)	—
Other current liabilities	—		14		61		86			(2		)	159
Total current liabilities	1		17		362		127			(25		)	482
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	—		497		63		630			—			1,190
Investment and advances from subsidiaries	—		—		—		852			(852		)	—
Deferred income taxes	—		—		—		401			—			401
Other long-term liabilities	3		1		33		14			—			51
Total long-term liabilities	3		498		96		1,897			(852		)	1,642
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	1,384		1,555		2,006		(1,156		)	(2,405		)	1,384
Noncontrolling interest	—		—		—		322			—			322
Total equity	1,384		1,555		2,006		(834		)	(2,405		)	1,706
Total liabilities and equity	$	1,388	$	2,070	$	2,464	$	1,190		$	(3,282	)	$	3,830

Condensed Consolidated Balance Sheet



	December 31, 2018
(in millions)	Parent			Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Intercompany Elimination			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	3		$	340	$	261	$	64	$	—		$	668
Accounts receivable	—			—		107		62		—			169
Due to/from parent	4			—		—		—		—			4
Intercompany receivable	6			—		4		—		(10		)	—
Inventories	—			—		316		64		—			380
Prepaid expenses and other current assets	27			1		49		4		(9		)	72
Total current assets	40			341		737		194		(19		)	1,293
Property, plant and equipment, net of accumulated depreciation	—			—		1,413		1,017		—			2,430
Investment in and advances from subsidiaries	1,232			1,601		172		1,440		(4,445		)	—
Other long-term assets	—			1		231		45		—			277
Total assets	$	1,272		$	1,943	$	2,553	$	2,696	$	(4,464	)	$	4,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	1		$	—	$	293	$	26	$	—		$	320
Intercompany payables	—			—		—		10		(10		)	—
Other current liabilities	6			7		74		97		(8		)	176
Total current liabilities	7			7		367		133		(18		)	496
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	—			496		42		629		—			1,167
Investment and advances from subsidiaries	—			—		106		—		(106		)	—
Deferred income taxes	(24		)	—		—		404		—			380
Other long-term liabilities	3			—		7		4		—			14
Total long-term liabilities	(21		)	496		155		1,037		(106		)	1,561
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	1,286			1,440		1,702		1,198		(4,340		)	1,286
Noncontrolling interest	—			—		329		328		—			657
Total equity	1,286			1,440		2,031		1,526		(4,340		)	1,943
Total liabilities and equity	$	1,272		$	1,943	$	2,553	$	2,696	$	(4,464	)	$	4,000

Condensed Consolidated Statement of Operations



	Three Months Ended June 30, 2019
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	—		$	—		$	1,553		$	138		$	(4	)	$	1,687
Operating costs and expenses:
Cost of materials and other	—			—			1,245			26			(4		)	1,267
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	—			—			87			45			—			132
Depreciation and amortization	—			—			51			25			—			76
Cost of sales	—			—			1,383			96			(4		)	1,475
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	4			2			14			7			—			27
Depreciation and amortization	—			—			2			—			—			2
Gain on asset disposals	—			—			(9		)	—			—			(9		)
Operating income (loss)	(4		)	(2		)	163			35			—			192
Other income (expense):
Interest expense, net	(2		)	(7		)	(2		)	(15		)	—			(26		)
Other income, net	—			—			3			—			—			3
Income (loss) from subsidiaries	131			165			3			(8		)	(291		)	—
Income (loss) before income taxes	125			156			167			12			(291		)	169
Income tax expense (benefit)	9			—			—			32			—			41
Net income (loss)	116			156			167			(20		)	(291		)	128
Less: Net income attributable to noncontrolling interest	—			—			—			12			—			12
Net income (loss) attributable to CVR Energy stockholders	$	116		$	156		$	167		$	(32	)	$	(291	)	$	116

Condensed Consolidated Statement of Operations



	Three Months Ended June 30, 2018
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	—		$	—		$	1,824		$	93		$	(3	)	$	1,914
Operating costs and expenses:
Cost of materials and other	—			—			1,544			19			(3		)	1,560
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	—			—			94			46			—			140
Depreciation and amortization	—			—			47			21			—			68
Cost of sales	—			—			1,685			86			(3		)	1,768
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	5			4			16			6			—			31
Depreciation and amortization	—			1			2			—			—			3
Loss on asset disposals	—			—			5			—			—			5
Operating income (loss)	(5		)	(5		)	116			1			—			107
Other income (expense):
Interest expense, net	—			(9		)	(2		)	(15		)	—			(26		)
Other income, net	—			—			2			—			—			2
Income (loss) from subsidiaries	47			117			(11		)	(13		)	(140		)	—
Income (loss) before income taxes	42			103			105			(27		)	(140		)	83
Income tax expense (benefit)	(1		)	—			—			16			—			15
Net income (loss)	43			103			105			(43		)	(140		)	68
Less: Net income attributable to noncontrolling interest	—			—			36			(11		)	—			25
Net income (loss) attributable to CVR Energy stockholders	$	43		$	103		$	69		$	(32	)	$	(140	)	$	43

Condensed Consolidated Statement of Operations



	Six Months Ended June 30, 2019
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	—		$	—		$	2,948		$	230		$	(5	)	$	3,173
Operating costs and expenses:
Cost of materials and other	—			—			2,323			50			(5		)	2,368
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	—			—			178			80			—			258
Depreciation and amortization	—			—			99			42			—			141
Cost of sales	—			—			2,600			172			(5		)	2,767
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	9			4			30			14			—			57
Depreciation and amortization	—			—			3			1			—			4
(Gain) loss on asset disposals	—			—			(8		)	1			—			(7		)
Operating income (loss)	(9		)	(4		)	323			42			—			352
Other income (expense):
Interest expense, net	(4		)	(12		)	(6		)	(30		)	—			(52		)
Other income, net	—			—			6			—			—			6
Income (loss) from subsidiaries	252			324			(4		)	(17		)	(555		)	—
Income (loss) before income taxes	239			308			319			(5		)	(555		)	306
Income tax expense (benefit)	22			—			—			54			—			76
Net income (loss)	217			308			319			(59		)	(555		)	230
Less: Net income attributable to noncontrolling interest	—			—			5			8			—			13
Net income (loss) attributable to CVR Energy stockholders	$	217		$	308		$	314		$	(67	)	$	(555	)	$	217

Condensed Consolidated Statement of Operations



	Six Months Ended June 30, 2018
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Eliminations			Consolidated
Net sales	$	—		$	—		$	3,281		$	173		$	(3	)	$	3,451
Operating costs and expenses:
Cost of materials and other	—			—			2,700			42			(3		)	2,739
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	—			—			186			85			—			271
Depreciation and amortization	—			—			94			37			—			131
Cost of sales	—			—			2,980			164			(3		)	3,141
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	8			5			30			12			—			55
Depreciation and amortization	—			1			4			1			—			6
Loss on asset disposals	—			—			4			1			—			5
Operating income (loss)	(8		)	(6		)	263			(5		)	—			244
Other income (expense):
Interest expense, net	—			(17		)	(6		)	(30		)	—			(53		)
Other income, net	—			—			3			—			—			3
Income (loss) from subsidiaries	109			261			(23		)	(24		)	(323		)	—
Income (loss) before income taxes	101			238			237			(59		)	(323		)	194
Income tax expense (benefit)	(2		)	—			—			35			—			33
Net income (loss)	103			238			237			(94		)	(323		)	161
Less: Net income attributable to noncontrolling interest	—			—			81			(23		)	—			58
Net income (loss) attributable to CVR Energy stockholders	$	103		$	238		$	156		$	(71	)	$	(323	)	$	103

Condensed Consolidated Statement of Cash Flows



	Six Months Ended June 30, 2019
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Elimination			Consolidated
Net cash provided by (used in) operating activities	$	(59	)	$	(8	)	$	391		$	60		$	—		$	384

Cash flows from investing activities:
Capital expenditures	—			(1		)	(48		)	(6		)	—			(55		)
Turnaround expenditures	—			—			(24		)	—			—			(24		)
Investment in affiliates, net of return of investment	512			107			160			27			(806		)	—
Other investing activities	—			—			35			1			—			36
Net cash provided by (used in) investing activities	512			106			123			22			(806		)	(43		)

Cash flows from financing activities:
Dividends to CVR Energy stockholders	(150		)	—			—			—			—			(150		)
Acquisition of CVR Refining common units	(301		)	—			—			—			—			(301		)
Distributions to CVR Partners’ noncontrolling interest holders	—			—			—			(14		)	—			(14		)
Distributions or intercompany advances to other CVR Energy subsidiaries	—			(22		)	(725		)	(59		)	806			—
Other financing activities	—			—			(2		)	(2		)	—			(4		)
Net cash provided by (used in) financing activities	(451		)	(22		)	(727		)	(75		)	806			(469		)
Net increase (decrease) in cash and cash equivalents	2			76			(213		)	7			—			(128		)
Cash and cash equivalents, beginning of period	3			340			261			64			—			668
Cash and cash equivalents, end of period	$	5		$	416		$	48		$	71		$	—		$	540

Condensed Consolidated Statement of Cash Flows



	Six Months Ended June 30, 2018
(in millions)	Parent			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Intercompany Elimination			Consolidated
Net cash provided by (used in) operating activities	$	67		$	(15	)	$	310		$	(125	)	$	1		$	238

Cash flows from investing activities:
Capital expenditures	—			(2		)	(32		)	(9		)	—			(43		)
Turnaround expenditures	—			—			(5		)	—			—			(5		)
Investment in affiliates, net of return of investment	21			444			241			171			(877		)	—
Other investing activities	—			—			(2		)	—			—			(2		)
Net cash provided by (used in) investing activities	21			442			202			162			(877		)	(50		)

Cash flows from financing activities:
Dividends to CVR Energy stockholders	(87		)	—			—			—			—			(87		)
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders	—			—			—			(48		)	—			(48		)
Distributions or intercompany advances to other CVR Energy subsidiaries	—			(337		)	(530		)	(9		)	876			—
Other financing activities	—			—			—			(1		)	—			(1		)
Net cash provided by (used in) financing activities	(87		)	(337		)	(530		)	(58		)	876			(136		)
Net increase (decrease) in cash and cash equivalents	1			90			(18		)	(21		)	—			52
Cash and cash equivalents, beginning of period	4			163			264			51			—			482
Cash and cash equivalents, end of period	$	5		$	253		$	246		$	30		$	—		$	534

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Net sales	$ 1,687	$ 1,914	$ 3,173	$ 3,451
Operating costs and expenses:
Cost of materials and other	1,267	1,560	2,368	2,739
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	132	140	258	271
Depreciation and amortization	76	68	141	131
Cost of sales	1,475	1,768	2,767	3,141
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	27	31	57	55
Depreciation and amortization	2	3	4	6
(Gain) loss on asset disposals	(9)	5	(7)	5
Operating income (loss)	192	107	352	244
Other (expense) income:
Interest expense, net	(26)	(26)	(52)	(53)
Other income, net	3	2	6	3
Income (loss) before income taxes	169	83	306	194
Income tax expense	41	15	76	33
Net income (loss)	128	68	230	161
Less: Net income attributable to noncontrolling interest	12	25	13	58
Net income (loss) attributable to CVR Energy stockholders	$ 116	$ 43	$ 217	$ 103
Basic and diluted earnings per share (in dollars per share)	$ 1.16	$ 0.50	$ 2.16	$ 1.19
Dividends declared per share (in dollars per share)	$ 0.75	$ 0.75	$ 1.50	$ 1.25
Weighted-average common shares outstanding:
Basic and diluted (in shares)	100.5	86.8	100.5	86.8

Derivative Financial Instruments - Schedule of Offsetting Assets and Liabilities (Details) - Commodity Derivatives - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Current Assets
Derivative Assets
Commodity Derivatives	$ 3	$ 8
Less: Counterparty Netting	(1)	(1)
Total Net Fair Value of Derivatives	2	7
Current Liabilities
Derivative Liabilities
Commodity Derivatives	1	1
Less: Counterparty Netting	(1)	(1)
Total Net Fair Value of Derivatives	$ 0	$ 0

Guarantor Financial Information - Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 540			$ 668
Accounts receivable	168			169
Due to/from parent	0			4
Intercompany receivable	0			0
Inventories	390			380
Prepaid expenses and other current assets	59		$ 69	72
Total current assets	1,157		1,290	1,293
Property, plant and equipment, net of accumulated depreciation	2,376		2,456	2,430
Investment in and advances from subsidiaries	0			0
Other long-term assets	297		333	277
Total assets	3,830		4,079	4,000
Current liabilities:
Accounts payable	323			320
Intercompany payables	0			0
Other current liabilities	159		192	176
Total current liabilities	482		512	496
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	1,190		1,190	1,167
Investment and advances from subsidiaries	0			0
Deferred income taxes	401			380
Other long-term liabilities	51		54	14
Total long-term liabilities	1,642		1,624	1,561
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	1,384			1,286
Noncontrolling interest	322			657
Total equity	1,706	$ 1,658		1,943	$ 1,783	$ 1,849	$ 1,823
Total liabilities and equity	3,830		$ 4,079	4,000
Intercompany Elimination
Current assets:
Cash and cash equivalents	0			0
Accounts receivable	0			0
Due to/from parent	0			0
Intercompany receivable	(23)			(10)
Inventories	0			0
Prepaid expenses and other current assets	(2)			(9)
Total current assets	(25)			(19)
Property, plant and equipment, net of accumulated depreciation	0			0
Investment in and advances from subsidiaries	(3,257)			(4,445)
Other long-term assets	0			0
Total assets	(3,282)			(4,464)
Current liabilities:
Accounts payable	0			0
Intercompany payables	(23)			(10)
Other current liabilities	(2)			(8)
Total current liabilities	(25)			(18)
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	0			0
Investment and advances from subsidiaries	(852)			(106)
Deferred income taxes	0			0
Other long-term liabilities	0			0
Total long-term liabilities	(852)			(106)
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	(2,405)			(4,340)
Noncontrolling interest	0			0
Total equity	(2,405)			(4,340)
Total liabilities and equity	(3,282)			(4,464)
Parent \| Reportable Legal Entities
Current assets:
Cash and cash equivalents	5			3
Accounts receivable	0			0
Due to/from parent	0			4
Intercompany receivable	5			6
Inventories	0			0
Prepaid expenses and other current assets	57			27
Total current assets	67			40
Property, plant and equipment, net of accumulated depreciation	0			0
Investment in and advances from subsidiaries	1,314			1,232
Other long-term assets	7			0
Total assets	1,388			1,272
Current liabilities:
Accounts payable	1			1
Intercompany payables	0			0
Other current liabilities	0			6
Total current liabilities	1			7
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	0			0
Investment and advances from subsidiaries	0			0
Deferred income taxes	0			(24)
Other long-term liabilities	3			3
Total long-term liabilities	3			(21)
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	1,384			1,286
Noncontrolling interest	0			0
Total equity	1,384			1,286
Total liabilities and equity	1,388			1,272
Subsidiary Issuer \| Reportable Legal Entities
Current assets:
Cash and cash equivalents	416			340
Accounts receivable	0			0
Due to/from parent	0			0
Intercompany receivable	0			0
Inventories	0			0
Prepaid expenses and other current assets	2			1
Total current assets	418			341
Property, plant and equipment, net of accumulated depreciation	1			0
Investment in and advances from subsidiaries	1,647			1,601
Other long-term assets	4			1
Total assets	2,070			1,943
Current liabilities:
Accounts payable	3			0
Intercompany payables	0			0
Other current liabilities	14			7
Total current liabilities	17			7
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	497			496
Investment and advances from subsidiaries	0			0
Deferred income taxes	0			0
Other long-term liabilities	1			0
Total long-term liabilities	498			496
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	1,555			1,440
Noncontrolling interest	0			0
Total equity	1,555			1,440
Total liabilities and equity	2,070			1,943
Guarantor Subsidiaries \| Reportable Legal Entities
Current assets:
Cash and cash equivalents	48			261
Accounts receivable	145			107
Due to/from parent	0			0
Intercompany receivable	10			4
Inventories	334			316
Prepaid expenses and other current assets	2			49
Total current assets	539			737
Property, plant and equipment, net of accumulated depreciation	1,393			1,413
Investment in and advances from subsidiaries	296			172
Other long-term assets	236			231
Total assets	2,464			2,553
Current liabilities:
Accounts payable	301			293
Intercompany payables	0			0
Other current liabilities	61			74
Total current liabilities	362			367
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	63			42
Investment and advances from subsidiaries	0			106
Deferred income taxes	0			0
Other long-term liabilities	33			7
Total long-term liabilities	96			155
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	2,006			1,702
Noncontrolling interest	0			329
Total equity	2,006			2,031
Total liabilities and equity	2,464			2,553
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Current assets:
Cash and cash equivalents	71			64
Accounts receivable	23			62
Due to/from parent	0			0
Intercompany receivable	8			0
Inventories	56			64
Prepaid expenses and other current assets	0			4
Total current assets	158			194
Property, plant and equipment, net of accumulated depreciation	982			1,017
Investment in and advances from subsidiaries	0			1,440
Other long-term assets	50			45
Total assets	1,190			2,696
Current liabilities:
Accounts payable	18			26
Intercompany payables	23			10
Other current liabilities	86			97
Total current liabilities	127			133
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion	630			629
Investment and advances from subsidiaries	852			0
Deferred income taxes	401			404
Other long-term liabilities	14			4
Total long-term liabilities	1,897			1,037
Commitments and contingencies
Equity:
Total CVR stockholders’ equity	(1,156)			1,198
Noncontrolling interest	322			328
Total equity	(834)			1,526
Total liabilities and equity	$ 1,190			$ 2,696

Business Segments

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Business Segments

(12) Business Segments

CVR Energy’s revenues are derived from two operating segments: the Petroleum Segment and the Nitrogen Fertilizer Segment. The Company evaluates the performance of its segments based primarily on segment operating income and EBITDA. For the purposes of the operating segment disclosure, the Company presents operating income as it is the most comparable measure to the amounts presented on the condensed consolidated statement of operations. The other amounts reflect intercompany eliminations, corporate cash and cash equivalents, income tax activities and other corporate activities that are not allocated to the operating segments.

The following table summarizes certain operating results and capital expenditures information by segment:



	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2019			2018			2019			2018
Net sales
Petroleum	$	1,552		$	1,824		$	2,949		$	3,282
Nitrogen Fertilizer	138			93			230			173
Other	(3		)	(3		)	(6		)	(4		)
Total	$	1,687		$	1,914		$	3,173		$	3,451
Operating Income
Petroleum	$	163		$	113		$	319		$	256
Nitrogen Fertilizer	35			—			44			(4		)
Other	(6		)	(6		)	(11		)	(8		)
Total	192			107			352			244
Interest expense, net	(26		)	(26		)	(52		)	(53		)
Other income, net	3			2			6			3
Income before income taxes	$	169		$	83		$	306		$	194
Depreciation and amortization
Petroleum	$	52		$	49		$	101		$	97
Nitrogen Fertilizer	25			20			42			37
Other	1			2			2			3
Total	$	78		$	71		$	145		$	137
Capital expenditures (1)
Petroleum	$	17		$	15		$	38		$	29
Nitrogen Fertilizer	2			7			5			11
Other	3			1			3			2
Total	$	22		$	23		$	46		$	42

The following table summarizes total assets by segment:



(in millions)	June 30, 2019			December 31, 2018
Petroleum	$	2,833		$	2,453
Nitrogen Fertilizer	1,190			1,254
Other (2)	(193		)	293
Total Assets	$	3,830		$	4,000

(1)Capital expenditures are shown exclusive of turnarounds.

(2)Includes elimination of intercompany assets.

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-Based Compensation
Total Share-Based Compensation Expense	$ 6	$ 11	$ 11	$ 12
Incentive Unit Awards
Share-Based Compensation
Total Share-Based Compensation Expense	4	3	7	2
CVR Energy LTIP \| Performance Unit Award
Share-Based Compensation
Total Share-Based Compensation Expense	0	1	0	2
CVR Refining \| CVR Refining LTIP \| Phantom Units Award
Share-Based Compensation
Total Share-Based Compensation Expense	1	6	2	7
CVR Partners \| CVR Partners LTIP \| Phantom Units Award
Share-Based Compensation
Total Share-Based Compensation Expense	$ 1	$ 1	$ 2	$ 1

Long-Term Debt and Finance Lease Obligations (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of long-term debt

Long-term debt and finance lease obligations consist of the following:



(in millions)	June 30, 2019			December 31, 2018
CVR Partners:
9.25% Senior Secured Notes due 2023 (1)(3)	$	645		$	645
6.50% Senior Notes due 2021	2			2
Unamortized discount and debt issuance costs	(16		)	(18		)
Total CVR Partners Debt	$	631		$	629

CVR Refining:
6.50% Senior Notes due 2022 (2)(4)	$	500		$	500
Finance lease obligations	67			44
Unamortized debt issuance cost	(3		)	(3		)
Current portion of finance lease obligations	(5		)	(3		)
Total CVR Refining Debt	559			538
Total Long-Term Debt and Finance Lease Obligations	$	1,190		$	1,167


(1)	This debt was issued at a $16 million discount which is being amortized, as interest expense, over the remaining term of the debt. Debt issuance costs associated with this debt totaled $9 million.

(2)


(3)	The estimated fair value of the 9.25% Senior Notes due 2023 was approximately $674 million and $671 million as of June 30, 2019 and December 31, 2018, respectively.


(4)	The estimated fair value of the 2022 Senior Notes was approximately $510 million and $493 million as of June 30, 2019 and December 31, 2018, respectively.

Credit Facilities



(in millions)	Total Capacity		Amount Borrowed as of June 30, 2019		Outstanding Letters of Credit		Available Capacity as of June 30, 2019		Maturity Date
CVR Refining:
Amended and Restated Asset Based (“Amended and Restated ABL”) Credit Facility (1)	$	400	$	—	$	7	$	393	November 14, 2022
CVR Partners:
Asset Based (“AB”) Credit Facility (2)	$	48	$	—	$	—	$	48	September 30, 2021


(1)	Loans under the Amended and Restated ABL Credit Facility initially bear interest at an annual rate equal to (i) 1.50% plus LIBOR or (ii) 0.50% plus a base rate, subject to quarterly excess availability.

(2)

Loans under the AB 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.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2019
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”). Effective January 1, 2019, the Company revised its accounting policy method for the costs of planned major maintenance activities (turnarounds) specific to the Petroleum Segment from being expensed as incurred (the direct expensing method) to the deferral method. Comparable prior period information has been recast to reflect this accounting change. The impact of adopting the new policy to account for turnaround expenses is reflected within a Form 8-K dated June 12, 2019, which recast the December 31, 2018 audited information (the “Recast Form 8-K for 2018”). Refer to Note 3 (“Recent Accounting Pronouncements and Accounting Changes”) for additional information. These condensed consolidated financial statements should be read in conjunction with the December 31, 2018 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2018 as well as the Recast Form 8-K for 2018. Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary to fairly present the financial position of the Company as of June 30, 2019 and December 31, 2018, the results of operations of the Company for the three and six months ended June 30, 2019 and 2018, the changes in equity for the three and six months ended June 30, 2019 and 2018, and the cash flows of the Company for the six months ended June 30, 2019 and 2018. Such adjustments are of a normal recurring nature, unless otherwise disclosed. Certain reclassifications have been made within the condensed consolidated statements of operations for the three and six months ended June 30, 2018 to include gain (loss) on derivatives within the Cost of materials and other financial statement line item to conform with current presentation. 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, 2019 or any other interim or annual period.

Inventories

6 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Inventories

(4) Inventories

Inventories consisted of the following:



(in millions)	June 30, 2019		December 31, 2018
Finished goods	$	184	$	186
Raw materials	103		101
Parts, supplies and other	81		81
In-process inventories	22		12
Total inventories	$	390	$	380

Derivative Financial Instruments - Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Fair value measurements
Prepaid expenses and other current assets (investments)	$ 3	$ 7
Total Assets	3	7
Total Liabilities	(16)	(2)
Renewable Fuel Standard RFS obligation
Fair value measurements
Other current liabilities (Renewable Fuel Standard “RFS” obligation)	(16)	(2)
Level 1
Fair value measurements
Prepaid expenses and other current assets (investments)	0	0
Total Assets	0	0
Total Liabilities	0	0
Level 1 \| Renewable Fuel Standard RFS obligation
Fair value measurements
Other current liabilities (Renewable Fuel Standard “RFS” obligation)	0	0
Level 2
Fair value measurements
Prepaid expenses and other current assets (investments)	3	7
Total Assets	3	7
Total Liabilities	(16)	(2)
Level 2 \| Renewable Fuel Standard RFS obligation
Fair value measurements
Other current liabilities (Renewable Fuel Standard “RFS” obligation)	(16)	(2)
Level 3
Fair value measurements
Prepaid expenses and other current assets (investments)	0	0
Total Assets	0	0
Total Liabilities	0	0
Level 3 \| Renewable Fuel Standard RFS obligation
Fair value measurements
Other current liabilities (Renewable Fuel Standard “RFS” obligation)	$ 0	$ 0

Leases - Balance Sheet Summary (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019
Operating Leases:
Lease liability	$ 46
Financing Leases:
Lease liability	68
Pipeline and storage
Operating Leases:
ROU assets, net	24
Lease liability	25
Financing Leases:
ROU assets, net	31	$ 1
Lease liability	42
Railcars
Operating Leases:
ROU assets, net	13
Lease liability	13
Real estate and other
Operating Leases:
ROU assets, net	10
Lease liability	8
Financing Leases:
ROU assets, net	26	$ 25
Lease liability	$ 26

Revenue (Tables)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major product



	Three Months Ended June 30, 2019
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
Major Product
Gasoline	$	816	$	—	$	—		$	816
Distillates (1)	689		—		—			689
Ammonia	—		50		—			50
UAN	—		74		—			74
Other urea products	—		5		—			5
Freight revenue	6		7		—			13
Other (2)	34		—		(3		)	31
Revenue from product sales	1,545		136		(3		)	1,678

Crude oil sales	6		—		—			6
Other revenue (2)	1		2		—			3
Total revenue	$	1,552	$	138	$	(3	)	$	1,687



	Six Months Ended June 30, 2019
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
Major Product
Gasoline	$	1,490	$	—	$	—		$	1,490
Distillates (1)	1,344		—		—			1,344
Ammonia	—		63		—			63
UAN	—		138		—			138
Other urea products	—		10		—			10
Freight revenue	11		15		—			26
Other (2)	73		—		(6		)	67
Revenue from product sales	2,918		226		(6		)	3,138

Crude oil sales	29		—		—			29
Other revenue (2)	2		4		—			6
Total revenue	$	2,949	$	230	$	(6	)	$	3,173



	Three Months Ended June 30, 2018
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
Major Product
Gasoline	$	896	$	—	$	—		$	896
Distillates (1)	832		—		—			832
Ammonia	—		28		—			28
UAN	—		51		—			51
Other urea products	—		5		—			5
Freight revenue	6		7		—			13
Other (2)	58		2		(3		)	57
Revenue from product sales	1,792		93		(3		)	1,882

Crude oil sales	31		—		—			31
Other revenue (2)	1		—		—			1
Total revenue	$	1,824	$	93	$	(3	)	$	1,914



	Six Months Ended June 30, 2018
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
Major Product
Gasoline	$	1,608	$	—	$	—		$	1,608
Distillates (1)	1,484		—		—			1,484
Ammonia	—		40		—			40
UAN	—		104		—			104
Other urea products	—		10		—			10
Freight revenue	11		15		—			26
Other (2)	112		4		(4		)	112
Revenue from product sales	3,215		173		(4		)	3,384

Crude oil sales	64		—		—			64
Other revenue (2)	3		—		—			3
Total revenue	$	3,282	$	173	$	(4	)	$	3,451


(1)	Distillates consist primarily of diesel fuel, kerosene and jet fuel.


(2)	Other revenue consists primarily of feedstock and asphalt sales and Cushing, OK storage tank lease revenue. See Note 5 (“Property, Plant and Equipment”) for further discussion on the Cushing, OK storage tanks.

Summary of deferred revenue activity

A summary of CVR Partners’ deferred revenue activity during the six months ended June 30, 2019 is presented below:



(in millions)
Balance at December 31, 2018	$	69
Add:
New prepay contracts entered into during the period	16
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	68
Revenue recognized related to contracts entered into during the period	8
Balance at June 30, 2019	$	9

Derivative Financial Instruments - Open Commodity Derivative Instruments (Details) - bbl bbl in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Canadian crude oil
Derivative [Line Items]
Number of barrels	4	2

Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Right-of-use assets for operating and finance leases

As of January 1, 2019, upon initial recognition, our ROU assets for operating and finance leases were comprised of the following:



(in millions)	January 1, 2019 (initial recognition)
Pipeline and storage agreements (1)	$	29
Railcar leases (2)	15
Real Estate and other leases (3)	35
Total ROU assets	$	79

(1) Includes finance leased assets of $1 million as of January 1, 2019.

(2) Includes $14 million of railcar leases recognized by CVR Partners.

(3) Includes finance leased assets of $25 million as of January 1, 2019.

Lease liabilities for operating and finance leases

As of January 1, 2019, upon initial recognition, our lease liabilities for operating and finance leases were comprised of the following:



(in millions)	January 1, 2019 (initial recognition)
Current liabilities:
Operating leases	$	14
Finance leases	2
Long-term liabilities:
Operating leases	40
Finance leases	23
Total lease liabilities	$	79

Summary of right of use asset and lease liability balances for operating and finance leases

The following tables summarize the right of use asset and lease liability balances for the Company’s operating and finance leases at June 30, 2019:



(in millions)	June 30, 2019
Operating Leases:
ROU assets, net
Pipeline and storage	$	24
Railcars	13
Real estate and other	10
Lease liability
Pipelines and storage	$	25
Railcars	13
Real estate and other	8



(in millions)	June 30, 2019
Financing Leases:
ROU assets, net
Pipeline and storage	$	31
Real estate and other	26
Lease liability
Pipelines and storage	$	42
Real estate and other	26

Lease expense, lease terms, and discount rates

The following outlines the remaining lease terms and discount rates used in the measurement of the Company’s ROU assets and liabilities:



	June 30, 2019		January 1, 2019 (initial recognition)
Weighted-average remaining lease term (years)
Operating Leases	4.2		4.4
Finance Leases	10.1		10.3
Weighted-average discount rate
Operating Leases	5.9	%	5.8	%
Finance Leases	9.6	%	9.8	%

For the three and six months ended June 30, 2019, we recognized net lease expense comprised of the following components:



(in millions)	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating lease expense	$	4	$	8
Financing lease expense:
Amortization of ROU	$	1	$	3
Interest expense on lease liability	1		3

Summary of Remaining Minimum Lease Payments for Operating Leases

The following summarizes the remaining minimum lease payments through maturity of the Company’s right-of-use assets and liabilities at June 30, 2019:



(in millions)	Operating Leases			Financing Leases
Remainder of 2019	$	8		$	5
2020	14			11
2021	12			11
2022	9			11
2023	6			10
Thereafter	4			53
Total lease payments	53			101
Less: imputed interest	(7		)	(33		)
Total lease liability	$	46		$	68

Summary of Remaining Minimum Lease Payments for Finance Leases

The following summarizes the remaining minimum lease payments through maturity of the Company’s right-of-use assets and liabilities at June 30, 2019:



(in millions)	Operating Leases			Financing Leases
Remainder of 2019	$	8		$	5
2020	14			11
2021	12			11
2022	9			11
2023	6			10
Thereafter	4			53
Total lease payments	53			101
Less: imputed interest	(7		)	(33		)
Total lease liability	$	46		$	68

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 184	$ 186
Raw materials	103	101
Parts, supplies and other	81	81
In-process inventories	22	12
Total inventories	$ 390	$ 380

Business Segments (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Operating results and capital expenditures information by segment

The following table summarizes certain operating results and capital expenditures information by segment:



	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2019			2018			2019			2018
Net sales
Petroleum	$	1,552		$	1,824		$	2,949		$	3,282
Nitrogen Fertilizer	138			93			230			173
Other	(3		)	(3		)	(6		)	(4		)
Total	$	1,687		$	1,914		$	3,173		$	3,451
Operating Income
Petroleum	$	163		$	113		$	319		$	256
Nitrogen Fertilizer	35			—			44			(4		)
Other	(6		)	(6		)	(11		)	(8		)
Total	192			107			352			244
Interest expense, net	(26		)	(26		)	(52		)	(53		)
Other income, net	3			2			6			3
Income before income taxes	$	169		$	83		$	306		$	194
Depreciation and amortization
Petroleum	$	52		$	49		$	101		$	97
Nitrogen Fertilizer	25			20			42			37
Other	1			2			2			3
Total	$	78		$	71		$	145		$	137
Capital expenditures (1)
Petroleum	$	17		$	15		$	38		$	29
Nitrogen Fertilizer	2			7			5			11
Other	3			1			3			2
Total	$	22		$	23		$	46		$	42

The following table summarizes total assets by segment:



(in millions)	June 30, 2019			December 31, 2018
Petroleum	$	2,833		$	2,453
Nitrogen Fertilizer	1,190			1,254
Other (2)	(193		)	293
Total Assets	$	3,830		$	4,000

(1)Capital expenditures are shown exclusive of turnarounds.

(2)Includes elimination of intercompany assets.

Leases - Additional Information (Details)	6 Months Ended
Leases - Additional Information (Details)	Jun. 30, 2019
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	20 years

Business Segments - Additional Information (Details)	6 Months Ended
Business Segments - Additional Information (Details)	Jun. 30, 2019 segment
Segment Reporting [Abstract]
Number of operating segments	2

Organization and Nature of Business (Details) $ / shares in Units, $ in Millions		6 Months Ended
	Jan. 29, 2019 USD ($) $ / shares	Jun. 30, 2019 segment
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Number of business segments \| segment		2
CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of interest held by the public		66.00%
Coffeyville Resources LLC (CRLLC) \| CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by wholly-owned subsidiary		34.00%
Coffeyville Resources LLC (CRLLC) \| CVR Refining GP, LLC
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by general partner		100.00%
Term Loan Facility
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Borrowing capacity	$ 105
CVR Refining
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Cash purchase price	$ 301
CVR Refining Public Unit Purchase
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Cash purchase price (in dollars per share) \| $ / shares	$ 10.50
Cash purchase price	$ 241
CVRR Affiliate Unit Purchase \| AEP and IEP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Cash purchase price	$ 60
Majority Shareholder
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Ownership percentage held by controlling stockholder		71.00%

Long-Term Debt and Finance Lease Obligations - Credit Facilities Outstanding (Details) - Line of Credit - Revolving Credit Facility	6 Months Ended
	Jun. 30, 2019 USD ($)
CVR Refining \| Amended and Restated Asset Based (Amended and Restated ABL) Credit Facility
Line of Credit Facility [Line Items]
Total Capacity	$ 400,000,000
Amount Borrowed	0
Outstanding Letters of Credit	7,000,000
Available Capacity	$ 393,000,000
CVR Refining \| Amended and Restated Asset Based (Amended and Restated ABL) Credit Facility \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
CVR Refining \| Amended and Restated Asset Based (Amended and Restated ABL) Credit Facility \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
CVR Partners \| Asset Based (AB) Credit Facility
Line of Credit Facility [Line Items]
Total Capacity	$ 48,000,000
Amount Borrowed	0
Outstanding Letters of Credit	0
Available Capacity	$ 48,000,000
CVR Partners \| Asset Based (AB) Credit Facility \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
CVR Partners \| Asset Based (AB) Credit Facility \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Variable rate step-down	0.50%

Commitments and Contingencies - Crude Oil Supply Agreement (Details) - New Vitol Agreement		3 Months Ended		6 Months Ended
	Aug. 31, 2012	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Loss Contingencies [Line Items]
Renewal term of agreement	1 year
Notice of nonrenewal period prior to expiration	180 days
Petroleum Segment \| Contracted Volume \| Supplier Concentration Risk
Loss Contingencies [Line Items]
Volume contracted throughout Vitol as percentage of total crude oil purchases		40.00%	44.00%	40.00%	40.00%

Recent Accounting Pronouncements and Accounting Changes

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Recent Accounting Pronouncements and Accounting Changes

(3) Recent Accounting Pronouncements and Accounting Changes

Recent Accounting Pronouncement - Adoption of New Lease Standard


•	Under the short-term lease exception provided for in Topic 842, only ROU assets and related lease liabilities for leases with a term greater than one year were and will be recognized;


•	The accounting treatment for existing land easements was carried forward;


•	Lease and non-lease components were and will not be bifurcated for all of the Company’s asset groups, respectively; and


•	The portfolio approach was and will be used in the selection of the discount rate used to calculate minimum lease payments and the related ROU asset and operating lease liability amounts.

obligation of $23 million. There were no impacts to our condensed consolidated statements of operations or cash flows. See Note 6 (“Leases”) for further discussion.

Accounting Change - Turnaround Expenses

Effect of Topic 842 Adoption on Condensed Consolidated Balance Sheet as of January 1, 2019



(in millions)	December 31, 2018 As Stated (1)		Effect of Adoption of Topic 842 - Leases (Unaudited)				January 1, 2019 As Adjusted
Current assets:
Prepaid expenses and other current assets	$	72	$	(3	)	(2)	$	69
Total currents assets	1,293		(3		)		1,290
Property, plant and equipment, net of accumulated depreciation	2,430		26			(3)	2,456
Other long-term assets	277		56			(4)	333
Total assets	$	4,000	$	79			$	4,079
Current liabilities:
Other current liabilities	$	176	$	16		(5)	$	192
Total current liabilities	496		16				512
Long-term debt and finance lease obligations	1,167		23			(3)	1,190
Other long-term liabilities	14		40			(5)	54
Total long-term liabilities	1,561		63				1,624
Equity:
Total liabilities and equity	$	4,000	$	79			$	4,079


(1)	Represents the retrospectively adjusted balance sheet amounts upon reflection of the turnaround accounting change, for which the Recast Form 8-K for 2018 was filed on June 12, 2019, prior to the adoption of Topic 842.


(2)	Represents lease prepayments reclassified to ROU assets.


(3)	The additional $26 million right-of-use asset and $23 million in lease liability represents a lease with a third-party that met the definition of a finance lease under ASC 842 as compared to an operating lease under ASC 840.


(4)	Represents recognition of initial ROU assets for operating leases, including the reclassification of certain lease prepayments as noted above.


(5)	Represents the initial recognition of lease liabilities.

Effect of Turnaround Accounting on Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2018



(in millions)	As Previously Reported		Effect of Turnaround Accounting Change (Unaudited)			As Stated
Condensed Consolidated Statement of Operations
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	$	141	$	(1	)	$	140
Depreciation and amortization	52		16			68
Income tax expense	17		(2		)	15
Net income	79		(11		)	68
Less: Net income attributable to noncontrolling interest	28		(3		)	25
Net income attributable to CVR Energy stockholders	$	51	$	(8	)	$	43

Effect of Turnaround Accounting on Condensed Consolidated Statement of Operations and Condensed Consolidated Statement of Cash Flows for the Six Months Ended June 30, 2018



(in millions)	As Previously Reported			Effect of Turnaround Accounting Change (Unaudited)			As Stated
Condensed Consolidated Statement of Operations
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	$	273		$	(2	)	$	271
Depreciation and amortization	102			29			131
Income tax expense	38			(5		)	33
Net income	183			(22		)	161
Less: Net income attributable to noncontrolling interest	66			(8		)	58
Net income attributable to CVR Energy stockholders	$	117		$	(14	)	$	103

Condensed Consolidated Statement of Cash Flows
Net cash provided by operating activities	$	229		$	9		$	238
Net cash used by investing activities	$	(41	)	$	(9	)	$	(50	)

New Accounting Standards Issued But Not Yet Implemented

Recent Accounting Pronouncements and Accounting Changes (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liabilities	$ 46
Finance lease obligations	$ 68
Estimated time until next turnaround occurs	4 years
Topic 842
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU assets		$ 56
Lease liabilities		56
Finance lease asset		26
Finance lease obligations		$ 23

Related Party Transactions - Amounts Due from Related Parties (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Amounts due from related parties	$ 0	$ 4
Tax Allocation Agreement \| American Entertainment Properties Corporation (“AEP”)
Related Party Transaction [Line Items]
Amounts due from related parties	$ 0	$ 4

Commitments and Contingencies - Litigation (Details) $ in Millions		1 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2007	Apr. 30, 2019 USD ($)	Jun. 30, 2019 lawsuit	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)	Dec. 31, 2008 USD ($)
Call Option Lawsuits
Loss Contingencies [Line Items]
Number of lawsuits filed \| lawsuit			9
CRNF
Loss Contingencies [Line Items]
Property tax abatement period	10 years
Increase in property tax expense (in excess of)				$ 10.0	$ 10.0	$ 10.0	$ 10.0	$ 10.0
Litigation settlement agreement, recovery amount		$ 7.9

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gain (loss) on derivatives



Gain (Loss) on Derivatives
	Three Months Ended June 30,					Six Months Ended June 30,
(in millions)	2019		2018			2019		2018
Forward purchases	$	3	$	13		$	20	$	28
Swaps	—		(2		)	—		44
Futures	1		(1		)	—		(2		)
Total gain on derivatives, net	$	4	$	10		$	20	$	70

Schedule of open commodity derivative instruments



Open Commodity Derivative Instruments
(in millions of barrels)	June 30, 2019	December 31, 2018
Forward Contracts:
Canadian crude oil	4	2

Derivative offsetting assets



	Derivative Assets						Derivative Liabilities
(in millions)	June 30, 2019			December 31, 2018			June 30, 2019			December 31, 2018
Commodity Derivatives	$	3		$	8		$	1		$	1
Less: Counterparty Netting	(1		)	(1		)	(1		)	(1		)
Total Net Fair Value of Derivatives	$	2		$	7		$	—		$	—

Derivative offsetting liabilities



	Derivative Assets						Derivative Liabilities
(in millions)	June 30, 2019			December 31, 2018			June 30, 2019			December 31, 2018
Commodity Derivatives	$	3		$	8		$	1		$	1
Less: Counterparty Netting	(1		)	(1		)	(1		)	(1		)
Total Net Fair Value of Derivatives	$	2		$	7		$	—		$	—

Assets and liabilities measured at fair value on a recurring basis

The following table sets forth the assets and liabilities measured or disclosed at fair value on a recurring basis, by input level, as of June 30, 2019 and December 31, 2018:



	June 30, 2019
(in millions)	Level 1		Level 2			Level 3		Total
Location and Description
Prepaid expenses and other current assets (investments)	$	—	$	3		$	—	$	3
Total Assets	—		3			—		3
Other current liabilities (Renewable Fuel Standard “RFS” obligation)	—		(16		)	—		(16		)
Total Liabilities	$	—	$	(16	)	$	—	$	(16	)



	December 31, 2018
(in millions)	Level 1		Level 2			Level 3		Total
Location and Description
Prepaid expenses and other current assets (investments)	—		7			—		7
Total Assets	$	—	$	7		$	—	$	7
Other current liabilities (RFS obligation)	—		(2		)	—		(2		)
Total Liabilities	$	—	$	(2	)	$	—	$	(2	)

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

(5) Property, Plant and Equipment

Property, plant and equipment consisted of the following:



(in millions)	June 30, 2019		December 31, 2018
Machinery and equipment	$	3,836	$	3,785
Construction in progress	73		102
Buildings and improvements	87		87
Land and improvements	45		43
Furniture and fixtures	33		33
ROU finance lease	27		—
Other	14		17
	4,115		4,067
Less: Accumulated depreciation	1,739		1,637
Total property, plant and equipment, net	$	2,376	$	2,430

On May 21, 2019, a subsidiary of CVR Energy sold the crude oil storage terminal located in Cushing, Oklahoma and related assets (the “Terminal”). As part of this transaction the Company received cash consideration of $43 million for the Terminal and related crude oil inventories resulting in the recognition of a gain on sale of $9 million. The carrying value of the inventory sold as part of this transaction has been presented on a net basis, with the proceeds on sale, within the net cash used in investing section of the Condensed Consolidated Statements of Cash Flows.

Leases - ROU Assets (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Total ROU assets		$ 79
Pipeline and storage agreements
Lessee, Lease, Description [Line Items]
Total ROU assets		29
Finance lease asset	$ 31	1
Railcar leases
Lessee, Lease, Description [Line Items]
Total ROU assets		15
Railcar leases \| CVR Partners
Lessee, Lease, Description [Line Items]
Total ROU assets		14
Real Estate and other leases
Lessee, Lease, Description [Line Items]
Total ROU assets		35
Finance lease asset	$ 26	$ 25

Guarantor Financial Information - Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Condensed Income Statements, Captions [Line Items]
Net sales	$ 1,687		$ 1,914		$ 3,173	$ 3,451
Operating costs and expenses:
Cost of materials and other	1,267		1,560		2,368	2,739
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	132		140		258	271
Depreciation and amortization	76		68		141	131
Cost of sales	1,475		1,768		2,767	3,141
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	27		31		57	55
Depreciation and amortization	2		3		4	6
(Gain) loss on asset disposals	(9)		5		(7)	5
Operating income (loss)	192		107		352	244
Other income (expense):
Interest expense, net	(26)		(26)		(52)	(53)
Other income, net	3		2		6	3
Income (loss) from subsidiaries	0		0		0	0
Income (loss) before income taxes	169		83		306	194
Income tax expense (benefit)	41		15		76	33
Net income (loss)	128	$ 102	68	$ 93	230	161
Less: Net income attributable to noncontrolling interest	12		25		13	58
Net income (loss) attributable to CVR Energy stockholders	116		43		217	103
Intercompany Elimination
Condensed Income Statements, Captions [Line Items]
Net sales	(4)		(3)		(5)	(3)
Operating costs and expenses:
Cost of materials and other	(4)		(3)		(5)	(3)
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	0		0		0	0
Depreciation and amortization	0		0		0	0
Cost of sales	(4)		(3)		(5)	(3)
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	0		0		0	0
Depreciation and amortization	0		0		0	0
(Gain) loss on asset disposals	0		0		0	0
Operating income (loss)	0		0		0	0
Other income (expense):
Interest expense, net	0		0		0	0
Other income, net	0		0		0	0
Income (loss) from subsidiaries	(291)		(140)		(555)	(323)
Income (loss) before income taxes	(291)		(140)		(555)	(323)
Income tax expense (benefit)	0		0		0	0
Net income (loss)	(291)		(140)		(555)	(323)
Less: Net income attributable to noncontrolling interest	0		0		0	0
Net income (loss) attributable to CVR Energy stockholders	(291)		(140)		(555)	(323)
Parent \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	0		0		0	0
Operating costs and expenses:
Cost of materials and other	0		0		0	0
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	0		0		0	0
Depreciation and amortization	0		0		0	0
Cost of sales	0		0		0	0
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	4		5		9	8
Depreciation and amortization	0		0		0	0
(Gain) loss on asset disposals	0		0		0	0
Operating income (loss)	(4)		(5)		(9)	(8)
Other income (expense):
Interest expense, net	(2)		0		(4)	0
Other income, net	0		0		0	0
Income (loss) from subsidiaries	131		47		252	109
Income (loss) before income taxes	125		42		239	101
Income tax expense (benefit)	9		(1)		22	(2)
Net income (loss)	116		43		217	103
Less: Net income attributable to noncontrolling interest	0		0		0	0
Net income (loss) attributable to CVR Energy stockholders	116		43		217	103
Subsidiary Issuer \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	0		0		0	0
Operating costs and expenses:
Cost of materials and other	0		0		0	0
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	0		0		0	0
Depreciation and amortization	0		0		0	0
Cost of sales	0		0		0	0
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	2		4		4	5
Depreciation and amortization	0		1		0	1
(Gain) loss on asset disposals	0		0		0	0
Operating income (loss)	(2)		(5)		(4)	(6)
Other income (expense):
Interest expense, net	(7)		(9)		(12)	(17)
Other income, net	0		0		0	0
Income (loss) from subsidiaries	165		117		324	261
Income (loss) before income taxes	156		103		308	238
Income tax expense (benefit)	0		0		0	0
Net income (loss)	156		103		308	238
Less: Net income attributable to noncontrolling interest	0		0		0	0
Net income (loss) attributable to CVR Energy stockholders	156		103		308	238
Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	1,553		1,824		2,948	3,281
Operating costs and expenses:
Cost of materials and other	1,245		1,544		2,323	2,700
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	87		94		178	186
Depreciation and amortization	51		47		99	94
Cost of sales	1,383		1,685		2,600	2,980
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	14		16		30	30
Depreciation and amortization	2		2		3	4
(Gain) loss on asset disposals	(9)		5		(8)	4
Operating income (loss)	163		116		323	263
Other income (expense):
Interest expense, net	(2)		(2)		(6)	(6)
Other income, net	3		2		6	3
Income (loss) from subsidiaries	3		(11)		(4)	(23)
Income (loss) before income taxes	167		105		319	237
Income tax expense (benefit)	0		0		0	0
Net income (loss)	167		105		319	237
Less: Net income attributable to noncontrolling interest	0		36		5	81
Net income (loss) attributable to CVR Energy stockholders	167		69		314	156
Non-Guarantor Subsidiaries \| Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	138		93		230	173
Operating costs and expenses:
Cost of materials and other	26		19		50	42
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	45		46		80	85
Depreciation and amortization	25		21		42	37
Cost of sales	96		86		172	164
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	7		6		14	12
Depreciation and amortization	0		0		1	1
(Gain) loss on asset disposals	0		0		1	1
Operating income (loss)	35		1		42	(5)
Other income (expense):
Interest expense, net	(15)		(15)		(30)	(30)
Other income, net	0		0		0	0
Income (loss) from subsidiaries	(8)		(13)		(17)	(24)
Income (loss) before income taxes	12		(27)		(5)	(59)
Income tax expense (benefit)	32		16		54	35
Net income (loss)	(20)		(43)		(59)	(94)
Less: Net income attributable to noncontrolling interest	12		(11)		8	(23)
Net income (loss) attributable to CVR Energy stockholders	$ (32)		$ (32)		$ (67)	$ (71)