0001376139-20-000015 | 10-K | XBRL Viewer

Print Document View Excel Document

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2019	Feb. 18, 2020	Jun. 28, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 1,466
Entity Common Stock, Shares Outstanding		100,530,599
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement to be filed pursuant to Regulation 14A pertaining to the 2020 Annual Meeting of Stockholders are incorporated by reference into Part III hereof. The Company intends to file such Proxy Statement no later than 120 days after the end of the fiscal year covered by this Form 10-K.
Entity Central Index Key	0001376139
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents (including $37 and $415, respectively, of consolidated variable interest entities (VIEs))	$ 652	$ 668
Accounts receivable (including $34 and $169, respectively, of VIEs)	182	169
Inventories (including $54 and $380, respectively, of VIEs)	390	380
Prepaid expenses and other current assets (including $5 and $56, respectively, of VIEs)	67	76
Total current assets	1,291	1,293
Property, plant and equipment, net (including $952 and $2,414, respectively, of VIEs)	2,336
Property, plant and equipment, net (including $952 and $2,414, respectively, of VIEs)		2,430
Other long-term assets (including $55 and $270, respectively, of VIEs)	278	277
Total assets	3,905	4,000
Current liabilities:
Note payable and finance lease obligations (including $0 and $3, respectively, of VIEs)	5	3
Accounts payable (including $24 and $317, respectively, of VIEs)	412	320
Other current liabilities (including $52 and $154, respectively, of VIEs)	179	173
Total current liabilities	596	496
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion (including $632 and $1,167, respectively of VIEs)	1,190	1,167
Deferred income taxes	396	380
Other long-term liabilities (including $10 and $7, respectively, of VIEs)	55	14
Total long-term liabilities	1,641	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 and 100,629,209 shares issued as of December 31, 2019 and 2018, respectively	1	1
Additional paid-in-capital	1,507	1,474
Retained deficit	(113)	(187)
Treasury stock, 98,610 shares at cost	(2)	(2)
Total CVR stockholders’ equity	1,393	1,286
Noncontrolling interest	275	657
Total equity	1,668	1,943
Total liabilities and equity	$ 3,905	$ 4,000

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 652	$ 668
Accounts receivable	182	169
Inventories	390	380
Prepaid expenses and other current assets	67	76
Property, plant and equipment, net	2,336
Property, plant and equipment, net		2,430
Other long-term assets	278	277
Note payable and finance lease obligations	5	3
Accounts payable	412	320
Other current liabilities	179	173
Long-term debt and finance lease obligations, net of current portion	1,190	1,167
Other long-term liabilities	$ 55	$ 14
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
Cash and cash equivalents	$ 37	$ 415
Accounts receivable	34	169
Inventories	54	380
Prepaid expenses and other current assets	5	56
Property, plant and equipment, net	952
Property, plant and equipment, net		2,414
Other long-term assets	55	270
Note payable and finance lease obligations	0	3
Accounts payable	24	317
Other current liabilities	52	154
Long-term debt and finance lease obligations, net of current portion	632	1,167
Other long-term liabilities	$ 10	$ 7

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net sales	$ 6,364	$ 7,124	$ 5,988
Operating costs and expenses:
Cost of materials and other	4,851	5,683	4,953
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	533	517	516
Depreciation and amortization	278	263	247
Cost of sales	5,662	6,463	5,716
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	117	112	113
Depreciation and amortization	9	11	11
(Gain) loss on asset disposals	(4)	6	3
Operating (loss) income	580	532	145
Other (expense) income:
Interest expense, net	(102)	(102)	(109)
Other income, net	13	15	2
Income before income taxes	491	445	38
Income tax expense (benefit)	129	79	(220)
Net income (loss)	362	366	258
Less: Net (loss) income attributable to non-controlling interest	(18)	107	(5)
Net income (loss) attributable to CVR Energy stockholders	$ 380	$ 259	$ 263
Basic and diluted earnings per share (in dollars per share)	$ 3.78	$ 2.80	$ 3.03
Dividends declared per share (in dollars per share)	$ 3.05	$ 2.50	$ 2.00
Weighted-average common shares outstanding:
Basic and Diluted (in shares)	100.5	92.5	86.8

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	CVR Partners	CVR Refining	Total CVR Stockholders’ Equity	Common Stock	Additional Paid-In Capital	Retained Deficit	Treasury Stock	Noncontrolling Interest	Noncontrolling Interest CVR Partners	Noncontrolling Interest CVR Refining
Balance (in shares) at Dec. 31, 2016					86,929,660
Balance at Dec. 31, 2016	$ 1,788			$ 899	$ 1	$ 1,197	$ (297)	$ (2)	$ 889
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(174)			(174)			(174)
Distributions to public unitholders		$ (2)	$ (47)							$ (2)	$ (47)
Net income (loss)	258			263			263		(5)
Balance (in shares) at Dec. 31, 2017					86,929,660
Balance at Dec. 31, 2017	1,823			988	$ 1	1,197	(208)	(2)	835
Increase (Decrease) in Stockholders' Equity
Exchange offer impact (in shares)					13,699,549
Exchange offer impact	84			276		276			(192)
Dividends paid to CVR Energy stockholders	(238)			(238)			(238)
Distributions to public unitholders			$ (93)								$ (93)
Other	1			1		1
Net income (loss)	366			259			259		107
Balance (in shares) at Dec. 31, 2018					100,629,209
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	(306)			(306)			(306)
Distributions to public unitholders		$ (30)								$ (30)
Acquisition of CVR Refining non-controlling interest	(336)			(2)		(2)			(334)
Net income (loss)	362			380			380		(18)
Balance (in shares) at Dec. 31, 2019					100,629,209
Balance at Dec. 31, 2019	$ 1,668			$ 1,393	$ 1	$ 1,507	$ (113)	$ (2)	$ 275

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 362	$ 366	$ 258
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	287	274	258
Deferred income taxes	24	49	(220)
(Gain) loss on asset disposals	(4)	6	3
Share-based compensation	17	16	19
Other non-cash items	6	3	7
Changes in assets and liabilities:
Accounts receivable	(40)	56	(27)
Inventories	(10)	(9)	(40)
Prepaid expenses and other current assets	16	(29)	34
Due to (from) parent	4	2	(16)
Accounts payable	94	(21)	85
Deferred revenue	(15)	11	1
Other current liabilities	9	(104)	(113)
Other long-term assets and liabilities	(3)	8	(1)
Net cash provided by operating activities	747	628	248
Cash flows from investing activities:
Capital expenditures	(121)	(102)	(120)
Turnaround expenditures	(38)	(8)	(80)
Proceeds from sale of assets	37	1	0
Investment in affiliates, net of return of investment	0	0	(76)
Other investing activities	1	1	0
Net cash provided by (used in) investing activities	(121)	(108)	(276)
Cash flows from financing activities:
Acquisition of CVR Refining common units	(301)	0	0
Dividends to CVR Energy’s stockholders	(306)	(238)	(174)
Other financing activities	(5)	(3)	(3)
Net cash (used in) provided by financing activities	(642)	(334)	(226)
Net (decrease) increase in cash and cash equivalents	(16)	186	(254)
Cash and cash equivalents, beginning of period	668	482	736
Cash and cash equivalents, end of period	652	668	482
CVR Refining
Cash flows from financing activities:
Distributions to noncontrolling interest holders	0	(93)	(47)
CVR Partners
Cash flows from financing activities:
Distributions to noncontrolling interest holders	$ (30)	$ 0	$ (2)

Organization and Nature of Business	12 Months Ended
Organization and Nature of Business	Dec. 31, 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. 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 December 31, 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 6 (“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 (“VIE”). Effective February 8, 2019, CVR Refining’s reporting obligations under the Exchange Act were suspended. CVR Partners, LP As of December 31, 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 in CVR Partners. Following the acquisition of the non-controlling interest in CVR Refining in January 2019, the non-controlling interest reflected on the consolidated balance sheets of CVR is only impacted by the net income of, and distributions from, CVR Partners. Stock Repurchase Program On October 23, 2019, the Board of Directors of the Company authorized a stock repurchase program (the “Stock Repurchase Program”). The Stock Repurchase Program would enable the Company to repurchase up to $300 million of the Company’s common stock. Repurchases under the Stock Repurchase Program may be made from time-to-time through open market transactions, block trades, privately negotiated transactions or otherwise in accordance with applicable securities laws. The timing, price and amount of repurchases (if any) will be made at the discretion of management and are subject to market conditions as well as corporate, regulatory and other considerations. While the Stock Repurchase Program currently has a duration of four years, it does not obligate the Company to acquire any stock and may be terminated by the Company’s Board of Directors at any time. We did not repurchase any of our common stock during the year ended December 31, 2019. Subsequent Events The Company evaluated subsequent events, if any, that would require an adjustment to the Company’s consolidated financial statements or require disclosure in the notes to the consolidated financial statements through the date of issuance of the consolidated financial statements. Where applicable, the notes to these consolidated financial statements have been updated to discuss all significant subsequent events which have occurred.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

(2) Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its majority-owned direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. The ownership interests of noncontrolling investors in the Company’s subsidiaries are recorded as noncontrolling interests. CVR Energy has not recognized any other comprehensive income for the periods ended December 31, 2019, 2018, and 2017.

CVR Partners is considered a VIE. As the 100% owner of the general partner of CVR Partners, the Company has the sole ability to direct the activities that most significantly impact the economic performance of the partnership and is considered to be the primary beneficiary. In January 2019, following the CVRR Unit Purchase, CVR Refining was no longer considered a VIE and is accounted for as a wholly-owned subsidiary.

Investments in entities over which the Company has significant influence, but not control, are accounted for using the equity method of accounting. Income from equity method investments represents CVR Energy’s proportionate share of net income generated by the equity method investees and is recorded in Other income, net on the Company’s Consolidated Statements of Operations.

Reclassifications

Certain reclassifications have been made within the consolidated financial statements for the years ended December 31, 2018 and 2017 to conform with current presentation.

Use of Estimates

These consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which requires management to make estimates and assumptions that affect the reported amounts and disclosure of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are reviewed on an ongoing basis, based on currently available information. Changes in facts and circumstances may result in revised estimates, and actual results could differ from those estimates.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and on deposit, investments in highly liquid money market accounts, and debt instruments with original maturities of three months or less.

Accounts Receivable, net

Accounts receivable primarily consist of customer accounts receivable recorded at the invoiced amounts and generally do not bear interest. Also included within accounts receivable of the Nitrogen Fertilizer Segment are unbilled fixed price contracts which is further discussed within Note 7 (“Revenue”).

Allowances for doubtful accounts are generally recorded when it becomes probable the receivable will not be collected and is booked to bad debt expense. The largest concentration of credit for any one customer at December 31, 2019 and 2018 was approximately 11% and 12%, respectively, of the net accounts receivable balance. As of December 31, 2019 and 2018, the allowance for doubtful accounts balances were immaterial.

Inventories

Inventories consist primarily of domestic and foreign crude oil, blending stock and components, work-in-progress, fertilizer products, and refined fuels and by-products. All inventories are valued at the lower of the first-in, first-out (“FIFO”) cost, or net realizable value. The Petroleum Segment’s unfinished and finished products inventory values were determined using the ability-to-bear methodology. Other inventories in the Petroleum and Nitrogen Fertilizer Segments, including other raw materials, spare parts, and supplies, are valued at the lower of moving-average cost, which approximates FIFO, or net realizable value. The cost of inventories includes inbound freight costs. At December 31, 2019 and 2018, inventories related to the Nitrogen Fertilizer Segment included depreciation of approximately $5 million and $6 million, respectively.

Inventories consisted of the following:


	December 31,
(in millions)	2019		2018
Raw materials	$	112	$	101
In-process inventories	18		12
Finished goods	177		186
Parts and supplies	83		81
Total Inventories	$	390	$	380

Property, Plant and Equipment

Additions to property, plant and equipment, including capitalized interest and certain costs allocable to construction and property purchases, are recorded at cost. Expenditures for improvements that increase economic benefit or returns and/or extend useful life are capitalized. Depreciation is computed using the straight-line method over the estimated useful lives of the various classes of depreciable assets. The lives used in computing depreciation for significant asset classes are as follows:


Asset						Range of Useful Lives, in Years
Land and improvements						15 to 30
Buildings and improvements						20 to 30
Machinery and equipment						5 to 30
Furniture and fixtures						3 to 10
ROU finance leases						1 to 25
Other						5 to 30

Property, plant and equipment consisted of the following:


	December 31,
(in millions)	2019		2018
Machinery and equipment (1)	$	3,859	$	3,785
Buildings and improvements	87		87
Land and improvements	46		43
Furniture and fixtures	35		33
ROU finance leases	27		—
Construction in progress	95		102
Other	14		17
	4,163		4,067
Less: Accumulated depreciation	1,827		1,637
Total Property, plant and equipment, net	$	2,336	$	2,430

(1) Includes $29 million in leases classified as finance leases under ASC Topic 842 (Leases) as of December 31, 2019 and $32 million in leases classified as capital leases under the superseded ASC Topic 840 (Leases) as of December 31, 2018.

Leasehold improvements and assets held under finance leases are depreciated or amortized on the straight-line method over the shorter of the contractual lease term or the estimated useful life of the asset. Expenditures for routine maintenance and repair costs are expensed when incurred. Such expenses are reported in Direct operating expenses (exclusive of depreciation and amortization) in the Company’s Consolidated Statements of Operations.

On May 21, 2019, a subsidiary of CVR Energy sold its 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 a 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 Consolidated Statements of Cash Flows.

Leases

At inception, the Company determines whether an arrangement is a lease and the appropriate lease classification. Operating leases are included as operating lease right-of-use (“ROU”) assets within Other long-term assets and lease liabilities within Other current liabilities and Other long-term liabilities on our Consolidated Balance Sheets. Finance leases are included as ROU finance leases within Property, plant, and equipment, net, and finance lease liabilities within Other current liabilities and Long-term debt and finance lease obligations, net of current portion on our Consolidated Balance Sheets. Leases with an initial expected term of 12 months or less are considered short-term and are not recorded on our Consolidated Balance Sheets. The Company recognizes lease expense for these leases on a straight-line basis over the expected lease term.

ROU assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the commencement date based on the present value of minimum lease payments over the lease term. The lease term is modified to reflect options to extend or terminate the lease when it is reasonably certain we will exercise such option. 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, in which case the depreciation policy in the “Property, Plant and Equipment” section above is applicable. The periodic lease payments are treated as payments of the lease obligation and interest is recorded as interest expense. See “Recent Accounting Pronouncements - Adoption of Lease Standard” within this Note for a further discussion on the impacts of adopting the lease standard.

Deferred Financing Costs

Lender and other third-party costs associated with debt issuances are deferred and amortized to interest expense and other financing costs using the effective-interest method over the life of the debt. Deferred financing costs related to line-of-credit arrangements are amortized using the straight-line method through the termination date of the facility. The deferred financing costs are included net within long-term debt and in other long-term assets for the line-of-credit arrangements where no debt balance exists.

Impairment of Long-Lived Assets

Long-lived assets (excluding goodwill, intangible assets with indefinite lives, and deferred tax assets) are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future net cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future net cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds their fair value. Assets to be disposed of are reported at the lower of their carrying value or fair value less cost to sell.

Goodwill represents the excess of the cost of an acquired entity over the fair value of the assets acquired less liabilities assumed. Intangible assets are assets that lack physical substance (excluding financial assets). Goodwill acquired in a business combination and intangible assets with indefinite useful lives are not amortized, while intangible assets with finite useful lives are amortized. Goodwill and intangible assets not subject to amortization are tested for impairment annually or more frequently if events or changes in circumstances indicate the asset might be impaired. The Company uses November 1 of each year as its annual valuation date for its goodwill impairment test.

The Company performed its annual impairment review of goodwill for 2019, 2018, and 2017 associated with CVR Partners’ Coffeyville, Kansas Nitrogen Fertilizer (the “Coffeyville Fertilizer Facility”) reporting unit and concluded there were no impairments. For the period ended December 31, 2019, no events or circumstances were identified which would trigger the performance of a quantitative analysis after reviewing all qualitative factors impacting the reporting unit including improved market conditions, financial results, and financial forecasts from those used in the fair value analysis at December 31, 2018. For the periods ended December 31, 2018 and 2017, the fair value of the Coffeyville Fertilizer Facility reporting unit exceeded its carrying value by approximately 36% and 12%, respectively, based upon the results of the reporting unit’s goodwill impairment test.

Loss Contingencies

In the ordinary course of business, the Company may become party to lawsuits, administrative proceedings, and governmental investigations, including environmental, regulatory, and other matters. The outcome of these matters cannot always be predicted accurately, but the Company accrues liabilities for these matters if the Company has determined that it is probable a loss has been incurred and the loss can be reasonably estimated.

Environmental, Health & Safety (“EHS”) Matters

The Petroleum and Nitrogen Fertilizer Segments are subject to various federal, state, and local EHS rules and regulations. Liabilities related to EHS matters are recognized when the related costs are probable and can be reasonably estimated. Estimates of these costs are based upon currently available facts, internal and third-party assessments of contamination, available remediation technology, site-specific costs, and currently enacted laws and regulations. In reporting environmental liabilities, no offset is made for potential recoveries. Loss contingency accruals, including those for environmental remediation, are subject to revision as further information develops or circumstances change and such accruals can take into account the legal liability of other parties. Environmental expenditures are capitalized at the time of the expenditure when such costs provide future economic benefits.

Revenue Recognition

The Company recognizes revenue based on consideration specified in contracts or agreements with customers when performance obligations are satisfied by transferring control over products or services to a customer. The Company’s revenue recognition patterns are described below by reportable segment:

•Petroleum Segment - The vast majority of Petroleum Segment contracts contain pricing that is based on the market price for the product at the time of delivery. Obligations to deliver product volumes are typically satisfied and revenue is recognized when control of the product transfers to customers. Concurrent with the transfer of control, the right to payment for the delivered product is received, the customer accepts the product, and the customer has significant risks and rewards of ownership of the product. Payment terms require customers to pay shortly after delivery and do not contain significant financing components. Any pass-through finished goods delivery costs reimbursed by customers are reported in Net sales, while an offsetting expense is included in Cost of materials and other. Non-monetary product exchanges and certain buy/sell transactions which are entered into in the normal course of business are included on a net cost basis in Cost of materials and other on the Consolidated Statements of Operations.

•Nitrogen Fertilizer Segment - Revenue is recognized when our customers receive control of the product. The adoption of ASC 606 resulted in the recognition of deferred revenue and related receivables, on a gross basis, associated with contracts that guarantee a price and supply of nitrogen fertilizer products in quantities expected to be delivered in the normal course of business.

Other considerations - For both segments, excise and other taxes collected from customers and remitted to governmental authorities are excluded from reported revenues.

Cost Classifications

Cost of materials and other includes cost of crude oil, other feedstocks, blendstocks, purchased refined products, pet coke expenses, Renewable Identification Number (“RIN”) expenses, derivative gains or losses, and freight and distribution costs. Direct operating expenses (exclusive of depreciation and amortization) consist primarily of energy and other utility costs, direct costs of labor, including applicable share-based compensation expense, property taxes, plant-related maintenance services, and environmental and safety compliance costs, as well as catalyst and chemical costs. Selling, general and administrative expenses (exclusive of depreciation and amortization) consist primarily of labor and other direct expenses associated with the Company’s corporate activities, including accounting, finance, information technology, human resources, legal, and other related administrative functions. For the Company’s Nitrogen Fertilizer Segment, each of these financial statement line items are also impacted by changes in inventory balances.

Derivatives and Fair Value of Financial Instruments

The Petroleum Segment uses futures contracts, swaps, and forward contracts primarily to reduce exposure to changes in crude oil and finished goods product prices to provide economic hedges of inventory positions. These derivative instruments do not qualify as hedges for hedge accounting purposes under ASC Topic 815, Derivatives and Hedging, and accordingly are recorded at fair value at the end of each reporting period based on quoted market prices. The Nitrogen Fertilizer Segment may enter into forward contracts with fixed delivery prices to purchase portions of its natural gas requirements. These natural gas contracts are not treated as derivatives under normal purchase and normal sale exclusions. Accordingly, the fair value of these contracts are not recorded at the end of each reporting period. Refer to Note 8 (“Derivative Financial Instruments”) for further discussion of the Company’s derivative activity.

Other financial instruments consisting of cash and cash equivalents, accounts receivable, and accounts payable are carried at cost, which approximates fair value, as a result of the short-term nature of the instruments. Refer to Note 8 (“Derivative Financial Instruments”) for further fair value disclosures.

Turnaround Expenses

Turnarounds represent major maintenance activities that require the shutdown of significant parts of a plant to perform necessary inspection, cleaning, repairs, and replacements of assets. Costs incurred for routine repairs and maintenance or unplanned outages at our facilities are expensed as incurred. Planned turnaround activities for the Petroleum Segment vary in frequency dependent on refinery units, but generally occur every four to five years, while the frequency of turnarounds in the Nitrogen Fertilizer Segment is every two to three years. Further details of each segment’s turnaround expensing method are discussed below.

Petroleum Segment - 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-expense method) to the deferral method. 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 Consolidated Balance Sheets for the period ended December 31, 2018, the related Consolidated Statements of Operations, Consolidated Statements of Changes in Equity, and Consolidated Statements of Cash Flows for each of the two years in the period ended December 31, 2018 have been recast to reflect our new accounting policy. Turnaround costs, and related accumulated amortization, are included in the Consolidated Balance Sheets as Other long-term assets. The amortization expense related to turnaround costs is included in Depreciation and amortization in the Consolidated Statements of Operations. During the years ended December 31, 2019, 2018, and 2017, the Petroleum Segment capitalized $38 million, $8 million, and $87 million, respectively.

Nitrogen Fertilizer Segment - The Nitrogen Fertilizer Segment follows the direct-expense method of accounting for turnaround activities. Costs associated with these turnaround activities were included in Direct operating expenses (exclusive of depreciation and amortization) in the Consolidated Statements of Operations. During the years ended December 31, 2019, 2018, and 2017, the Nitrogen Fertilizer Segment incurred turnaround expenses of $10 million, $6 million, and $3 million, respectively.

The following presents the financial statement line items impacted by the Petroleum Segment turnaround accounting change for each of the periods presented within these consolidated financial statements.

Effect of Turnaround Accounting Change on Consolidated Balance Sheet as of December 31, 2018


	December 31, 2018
(in millions)	As Previously Reported		Effect of Turnaround Accounting Change		As Stated








Property, plant and equipment, net of accumulated depreciation	$	2,445	$	(15)	$	2,430
Other long-term assets (1)	169		108		277
Total assets	$	3,907	$	93	$	4,000






Long-term liabilities:


Deferred income taxes (2)	$	362	$	18	$	380

Total long-term liabilities	1,543		18		1,561
Equity:
CVR stockholders’ equity:

Additional paid-in-capital	$	1,473	$	1	$	1,474
Retained deficit	(226)		39		(187)

Total CVR stockholders’ equity	1,246		40		1,286
Noncontrolling interest	622		35		657
Total equity	1,868		75		1,943
Total liabilities and equity	$	3,907	$	93	$	4,000

(1) This represents the capitalized turnaround asset recognized due to the turnaround policy change.

(2) This represents the increase in deferred tax liability due to the recognition of the capitalized turnaround asset.

Effect of Turnaround Accounting on Consolidated Statement of Operations and Consolidated Statement of Cash Flows for the Years Ended December 31, 2018 and 2017


	Year Ended December 31,
	2018										2017
(in millions)	As Previously Reported		Effect of Turnaround Accounting Change		As Stated		As Previously Reported		Effect of Turnaround Accounting Change		As Stated
Consolidated Statement of Operations
Direct operating expenses	$	523	$	(6)	$	517	$	598	$	(82)	$	516
Depreciation and amortization	202		61		263		203		44		247


Income tax expense (benefit)	89		(10)		79		(217)		(3)		(220)
Net income (loss)	$	411	$	(45)	$	366	$	217	$	41	$	258
Less: Net income attributable to noncontrolling interest	122		(15)		107		(18)		13		(5)
Net income attributable to CVR Energy stockholders	$	289	$	(30)	$	259	$	235	$	28	$	263

Consolidated Statement of Cash Flows



Net cash provided by operating activities	$	620	$	8	$	628	$	168	$	80	$	248

Net cash used by investing activities	$	(100)	$	(8)	$	(108)	$	(196)	$	(80)	$	(276)

Share-Based Compensation

The Company accounts for share-based compensation in accordance with ASC Topic 718, Compensation — Stock Compensation (“ASC 718”). Currently, all of the Company’s share-based compensation awards, including those issued by CVR Refining and CVR Partners, are liability-classified and are measured at fair value at the end of each reporting period based on the applicable closing unit price. Compensation expense will fluctuate based on changes in the applicable share or unit prices and expense reversals resulting from employee terminations prior to award vesting. Additionally, the Company has issued certain performance unit awards. The fair value of these performance unit awards is recognized as compensation expense only if the attainment of the performance conditions is considered probable. Uncertainties involved in this estimate include continued employment requirements and whether or not the performance conditions will be attained. The performance objectives are set in accordance with approved levels of the business plan for the fiscal year during the performance cycle and, therefore, are considered reasonably possible of being achieved. If this assumption proves not to be true and the awards do not vest, compensation expense recognized during the performance cycle will be reversed. See Note 9 (“Share-Based Compensation”) for further discussion.

Income Taxes

Income taxes are accounted for utilizing the asset and liability approach. Under this method, deferred tax assets and liabilities are recognized for the anticipated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred amounts are measured using enacted tax rates expected to apply to taxable income in the year those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In assessing the realizability of the deferred income tax assets, including net operating loss and state tax credit carryforwards, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred income tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Further, the Company recognizes interest expense (income) and penalties on uncertain tax positions and income tax deficiencies (refunds) in Income tax expense (benefit).

Earnings Per Share

There were no dilutive awards outstanding during the years ended December 31, 2019, 2018, and 2017.

Recent Accounting Pronouncements - Adoption of 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 consolidated balance sheets.

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:

•Only ROU assets and related lease liabilities for leases with an initial 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 consolidated statements of operations or cash flows. See Note 4 (“Leases”) for further discussion.


(in millions)	December 31, 2018 As Stated (1)		Effect of Adoption of Topic 842			January 1, 2019 As Adjusted

Current assets:




Prepaid expenses and other current assets	$	76	$	(3)	(2)	$	73
Total currents assets	1,293		(3)			1,290
Property, plant and equipment, net	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 ROU 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.

Recent Accounting Pronouncements - Adoption of Internal-Use Software Standard

In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40). This ASU better aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is also a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Effective January 1, 2019, we adopted this ASU and chose to apply the prospective approach for all implementation costs incurred after the date of adoption. We evaluated the effects of adopting this new accounting guidance and concluded it did not have a material impact on the Company’s consolidated financial position or results of operations.

Recent Accounting Pronouncements - New Accounting Standards Issued But Not Yet Implemented

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326). The ASU replaces the incurred loss model with a current expected credit loss model for more timely recognition of expected impairment losses for most financial assets and certain other instruments that are not measured at fair value through net income. Effective January 1, 2020, the Company adopted this ASU and evaluated the effects of adopting this new accounting guidance. The adoption will not have a material impact on the Company’s consolidated financial position or results of operations.

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. Effective January 1, 2020, we adopted this ASU and evaluated the effects of adopting this new accounting guidance. The adoption did not have a material impact on the Company’s disclosures.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740). The ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and modifies other areas of the topic to clarify the application of GAAP. Certain amendments within the standard are required to be applied on a retrospective basis

and others on a prospective basis. This standard is effective for the company beginning January 1, 2021, with early adoption permitted. 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.

Equity Method Investments

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

(3) Equity Method Investments

For each of the following investments, CVR Refining has the ability to exercise influence through its participation in the management committees, which make all significant decisions. However, since CVR Refining has equal or proportionate influence over each committee as a joint partner without regard to its economic interest and does not serve as the day-to-day operator, we have determined that these entities should not be consolidated and have applied the equity method of accounting.

•Enable South Central Pipeline, LLC (“Enable JV”, formerly Velocity Pipeline Partners, LLC) - CVR Refining owns a 40% interest in Enable JV, which operates a 12-inch 26-mile crude oil pipeline with a capacity of approximately 115,000 barrels per day that is connected to the Wynnewood Refinery. The remaining interest in Enable JV is owned by Enable Midstream Partners, LP.

•Midway Pipeline, LLC (“Midway JV”) - CVR Refining owns a 50% interest in Midway JV, which operates a 16-inch 100 mile crude oil pipeline with a capacity of approximately 120,000 barrels per day which connects the Coffeyville Refinery to the Cushing Oklahoma oil hub.


(in millions)	Enable JV		Midway JV		Total
Balance at December 31, 2017	6		77		83

Cash Distributions	(2)		(5)		(7)
Equity income	2		6		8
Balance at December 31, 2018	6		78		84
Cash Distributions	(4)		(9)		(13)
Equity income	4		6		10
Balance at December 31, 2019	$	6	$	75	$	81

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

(4) Leases

Lease Overview

We lease certain pipelines, storage tanks, railcars, office space, land, and equipment across our refining, fertilizer, and corporate operations. 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 which are adjusted periodically for factors such as inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Additionally, we do not have any material lessor or sub-leasing arrangements.

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

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

ROU Assets. 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 recognized upon adoption of Topic 842 as of January 1, 2019.

Lease Liabilities. 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 December 31, 2019

The following tables summarize the right of use asset and lease liability balances for the Company’s operating and finance leases at December 31, 2019:


(in millions)	December 31, 2019
Operating Leases:
ROU assets, net
Pipeline and storage	$	20
Railcars	12
Real estate and other	16
Lease liability
Pipelines and storage	$	22
Railcars	12
Real estate and other	14


(in millions)	December 31, 2019
Finance Leases:
ROU assets, net
Pipeline and storage	$	29
Real estate and other	24
Lease liability
Pipelines and storage	$	40
Real estate and other	25

Lease Expense Summary for the Year Ended December 31, 2019

We recognize lease expense on a straight-line basis over the lease term. For the year ended December 31, 2019, we recognized lease expense comprised of the following components:


(in millions)	December 31, 2019
Operating lease expense	$	12
Finance lease expense:
Amortization of ROU	$	7
Interest expense on lease liability	6

Short-term lease expense, recognized within Direct operating expenses (exclusive of depreciation and amortization), was $8 million for the year ended December 31, 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:


	December 31, 2019		January 1, 2019 (initial recognition)
Weighted-average remaining lease term (years)
Operating Leases	3.7		4.4
Finance Leases	9.0		10.3
Weighted-average discount rate
Operating Leases	5.6	%	5.8	%
Finance Leases	8.9	%	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 December 31, 2019:


(in millions)	Operating Leases		Finance Leases
2020	$	16	$	11
2021	14		11
2022	11		11
2023	7		10
2024	4		10
Thereafter	—		43
Total lease payments	52		96
Less: imputed interest	(4)		(31)
Total lease liability	$	48	$	65

Leases

(4) Leases

Lease Overview

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

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

ROU Assets. 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 recognized upon adoption of Topic 842 as of January 1, 2019.

Lease Liabilities. 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 December 31, 2019

The following tables summarize the right of use asset and lease liability balances for the Company’s operating and finance leases at December 31, 2019:


(in millions)	December 31, 2019
Operating Leases:
ROU assets, net
Pipeline and storage	$	20
Railcars	12
Real estate and other	16
Lease liability
Pipelines and storage	$	22
Railcars	12
Real estate and other	14


(in millions)	December 31, 2019
Finance Leases:
ROU assets, net
Pipeline and storage	$	29
Real estate and other	24
Lease liability
Pipelines and storage	$	40
Real estate and other	25

Lease Expense Summary for the Year Ended December 31, 2019

We recognize lease expense on a straight-line basis over the lease term. For the year ended December 31, 2019, we recognized lease expense comprised of the following components:


(in millions)	December 31, 2019
Operating lease expense	$	12
Finance lease expense:
Amortization of ROU	$	7
Interest expense on lease liability	6

Short-term lease expense, recognized within Direct operating expenses (exclusive of depreciation and amortization), was $8 million for the year ended December 31, 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:


	December 31, 2019		January 1, 2019 (initial recognition)
Weighted-average remaining lease term (years)
Operating Leases	3.7		4.4
Finance Leases	9.0		10.3
Weighted-average discount rate
Operating Leases	5.6	%	5.8	%
Finance Leases	8.9	%	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 December 31, 2019:


(in millions)	Operating Leases		Finance Leases
2020	$	16	$	11
2021	14		11
2022	11		11
2023	7		10
2024	4		10
Thereafter	—		43
Total lease payments	52		96
Less: imputed interest	(4)		(31)
Total lease liability	$	48	$	65

Other Current Liabilities

12 Months Ended

Dec. 31, 2019

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

(5) Other Current Liabilities

Other current liabilities were as follows:


	December 31,
(in millions)	2019		2018
Personnel accruals	$	47	$	40
Accrued taxes other than income taxes	28		28
Deferred revenue	28		69
Accrued income taxes	24		—
Operating lease liabilities (1)	14		—
Accrued interest	9		9
Accrued derivatives	7		—
Accrued Renewable Fuel Standards (“RFS”) obligation	7		4
Share-based compensation	6		5
Other accrued expenses and liabilities	9		18
Total other current liabilities	$	179	$	173

(1) 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.

Long-Term Debt and Finance Lease Obligations

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Long-Term Debt and Finance Lease Obligations

(6) Long-Term Debt and Finance Lease Obligations


	December 31,
(in millions)	2019		2018
CVR Partners:
9.25% Senior Secured Notes due June 2023 (1)	$	645	$	645
6.50% Senior Notes due April 2021	2		2
Unamortized discount and debt issuance costs	(15)		(18)
Total CVR Partners debt	$	632	$	629
CVR Refining:
6.50% Senior Notes due November 2022 (2)	$	500	$	500
Finance lease obligations, net of current portion (3)	61		41
Unamortized debt issuance cost	(3)		(3)
Total CVR Refining debt	558		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 Notes were amended such that CVR Energy was included as the primary guarantor, on a senior unsecured basis, of the 2022 Notes. The CVR Energy guarantee is full and unconditional and joint and several. On January 27, 2020, the Company redeemed all of the 2022 Notes for a redemption price equal to 101.083%, plus accrued and unpaid interest, on the redeemed notes.

(3)Current portion of finance lease obligations was approximately $5 million and $3 million as of December 31, 2019 and 2018, respectively.

Credit Facilities


(in millions)	Total Capacity		Amount Borrowed as of December 31, 2019		Outstanding Letters of Credit		Available Capacity as of December 31, 2019		Maturity Date
CVR Partners:
Asset Based (“AB”) Credit Facility (1)	50		—		—		50		September 30, 2021
CVR Refining:
Amended and Restated Asset Based (“Amended and Restated ABL”) Credit Facility (2)	$	400	$	—	$	7	$	393	November 14, 2022

(1)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.

(2)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.

The Company is in compliance with all covenants of the AB credit facilities, Amended and Restated ABL, and the senior notes as of December 31, 2019.

CVR Partners

AB Credit Facility - On September 30, 2016, CVR Partners entered into a senior secured asset based revolving credit facility (the “AB Credit Facility”) with a group of lenders and UBS AG (“UBS”), as administrative agent and collateral agent. The AB Credit Facility has an aggregate principal amount of availability of up to $50 million with an incremental facility, which permits an increase in borrowings of up to $25 million in the aggregate subject to additional lender commitments and certain other conditions. The AB Credit Facility is scheduled to mature on September 30, 2021.

2023 Notes - On June 10, 2016, CVR Partners and CVR Nitrogen Finance Corporation (“CVR Nitrogen Finance”), an indirect wholly-owned subsidiary of CVR Partners (together the “2023 Notes Issuers”), certain subsidiary guarantors named therein and Wilmington Trust, National Association, as trustee and as collateral trustee, completed a private offering of $645 million aggregate principal amount of 9.25% Senior Secured Notes due 2023 (the “2023 Notes”). The 2023 Notes mature on June 15, 2023, unless earlier redeemed or repurchased by the issuers. Interest on the 2023 Notes is payable semi-annually in arrears on June 15 and December 15 of each year. The 2023 Notes are guaranteed on a senior secured basis by all of the Nitrogen Fertilizer Partnership’s existing subsidiaries.

On or after June 15, 2019, the 2023 Notes Issuers may on any one or more occasions, redeem all or part of the 2023 Notes at the redemption prices set forth below expressed as a percentage of the principal amount of the 2023 Notes plus accrued and unpaid interest to the applicable redemption date.


12-month period beginning June 15,						Percentage
2019						104.625%
2020						102.313%
2021 and thereafter						100.000%

The 2023 Notes contain customary covenants for a financing of this type that, among other things, restrict CVR Partners’ ability and the ability of certain of its subsidiaries to: (i) sell assets; (ii) pay distributions on, redeem or repurchase the Nitrogen Fertilizer Partnership’s units or redeem or repurchase its subordinated debt; (iii) make investments; (iv) incur or guarantee additional indebtedness or issue preferred units; (v) create or incur certain liens; (vi) enter into agreements that restrict distributions or other payments from the CVR Partners’ restricted subsidiaries to CVR Partners; (vii) consolidate, merge or transfer all or substantially all of the CVR Partners’ assets; (viii) engage in transactions with affiliates; and (ix) create unrestricted subsidiaries. In addition, the indenture contains customary events of default, the occurrence of which would result in or permit the trustee or the holders of at least 25% of the 2023 Notes to cause the acceleration of the 2023 Notes, in addition to the pursuit of other available remedies.

CVR Refining

Amended and Restated ABL Credit Facility - On November 14, 2017, CRLLC, CVR Refining, its wholly-owned subsidiary, CVR Refining, LLC (“Refining LLC”) and each of the operating subsidiaries of Refining LLC (collectively, the “Credit Parties”) entered into Amendment No. 1 to the Amended and Restated ABL Credit Agreement (the “Amendment”) with a group of lenders and Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent and collateral agent. The Amended and Restated ABL is a $400 million asset-based revolving credit facility, with sub-limits for letters of credit and swingline loans of $60 million and $40 million, respectively. The Amended and Restated ABL also includes a $200 million uncommitted incremental facility.

2022 Notes - On October 23, 2012, CVR Refining, LLC (“Refining LLC”) and Coffeyville Finance Inc. (“Coffeyville Finance”) completed a private offering of $500 million aggregate principal amount of 6.50% Second Lien Senior Notes due 2022 (the “2022 Notes”). The 2022 Notes mature on November 1, 2022, unless earlier redeemed or repurchased by the issuers. Interest is payable on the 2022 Notes semi-annually on May 1 and November 1 of each year, commencing on May 1, 2013. The 2022 Notes are unsecured and fully and unconditionally guaranteed by CVI, CVR Refining and each of Refining LLC’s existing domestic subsidiaries (other than the co-issuer, Coffeyville Finance) on a joint and several basis. CVR Refining has no independent assets or operations and Refining LLC is a 100% owned finance subsidiary of CVR Refining. On January 29, 2019, the Company, and certain of the Company’s subsidiaries, executed a full and unconditional guarantee of the 2022 Notes.

On January 27, 2020, the Company redeemed all of the outstanding 2022 Notes and settled accrued interest of approximately $8 million through the date of redemption. The redeemed notes were repurchased for approximately $505 million, or 101.083% of par value. Previously deferred financing charges related to the 2022 Notes totaled approximately $3 million. As a result of this transaction, the Company will recognize a $8 million loss on extinguishment of debt in the first quarter of 2020, which includes the total premiums paid of $5 million and the write-off of previously deferred financing charges of $3 million.

CVR Energy

2025 Notes and 2028 Notes - On January 27, 2020, CVR Energy completed a private offering of $600 million aggregate principal amount of 5.25% Senior Unsecured Notes due 2025 (the “2025 Notes”) and $400 million aggregate principal amount of 5.75% Senior Unsecured Notes due 2028 (the “2028 Notes” and, collectively with the 2025 Notes, the “Notes”). Interest on the Notes is payable semi-annually in arrears on February 15 and August 15 each year, commencing on August 15, 2020. The 2025 Notes mature on February 15, 2025, unless earlier redeemed or repurchased by the issuers. The 2028 Notes mature on February 15, 2028, unless earlier redeemed or repurchased by the issuers. The Notes are jointly and severally guaranteed on a senior unsecured basis by the wholly-owned subsidiaries of CVR Energy with the exception of CVR Partners and its subsidiaries and certain immaterial wholly-owned subsidiaries of CVR Energy.

In relation to the issuance of the Notes, the Company received $993 million of net cash proceeds, net of underwriting fees and other third-party fees and expenses associated with the offering. The debt issuance costs of the Notes totaled approximately $7 million and are being amortized over the terms of the respective notes as interest expense using the effective-interest amortization method.

On or after February 15, 2022 and February 15, 2023, we may on any one or more occasions, redeem all or part of the 2025 Notes and 2028 Notes, respectively, at the redemption prices set forth below expressed as a percentage of the principal amount of the respective notes, plus accrued and unpaid interest to the applicable redemption date.


2025 Notes			2028 Notes
12-month period beginning February 15,	Percentage	12-month period beginning February 15,	Percentage
2022	102.625%	2023	102.875%
2023	101.313%	2024	101.917%
2024 and thereafter	100.000%	2025	100.958%
		2026 and thereafter	100.000%

The indenture governing the Notes imposes covenants that will, among other things, limit our ability and the ability of our restricted subsidiaries to: (i) incur additional indebtedness or issue certain disqualified equity; (ii) create liens on certain assets

to secure debt; (iii) pay dividends or make other equity distributions; (iv) purchase or redeem capital stock; (v) make certain investments; (vi) sell assets; (vii) agree to certain restrictions on the ability of restricted subsidiaries to make distributions, loans, or other asset transfers to us; (viii) consolidate, merge, sell, or otherwise dispose of all or substantially all of our assets; (ix) engage in transactions with affiliates; and (x) designate our restricted subsidiaries as unrestricted subsidiaries. In addition, the indenture contains customary events of default, the occurrence of which would result in or permit the trustee or the holders of at least 25% of the 2025 Notes and 2028 Notes to cause, amongst other available remedies, the acceleration of the respective notes.

Credit Agreement - On January 29, 2019, the Company entered into a credit agreement (the “Credit Agreement”) with Jefferies Finance LLC to provide a term loan credit facility with a maturity date of March 10, 2019. The borrowings under the Credit Agreement of $105 million were used to fund a portion of the CVRR Unit Purchase. All amounts were repaid on February 11, 2019. As the original maturity was less than three months from the issuance date, the borrowings and repayments under the credit agreement qualified for net reporting on the Consolidated Statements of Cash Flows.

Revenue

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue

(7) Revenue

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


	Year Ended December 31, 2019
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Gasoline	$	3,050	$	—	$	—	$	3,050
Distillates (1)	2,705		—		—		2,705
Ammonia	—		94		—		94
UAN	—		251		—		251
Other urea products	—		18		—		18

Freight revenue	23		33		—		56
Other (2)	129		8		(8)		129
Revenue from product sales	5,907		404		(8)		6,303

Crude oil sales	58		—		—		58
Other revenue (2)	3		—		—		3
Total revenue	$	5,968	$	404	$	(8)	$	6,364


	Year Ended December 31, 2018
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Gasoline	$	3,383	$	—	$	—	$	3,383
Distillates (1)	3,083		—		—		3,083
Ammonia	—		66		—		66
UAN	—		222		—		222
Other urea products	—		21		—		21
Freight revenue	23		34		—		57
Other (2)	190		8		(7)		191
Revenue from product sales	6,679		351		(7)		7,023

Crude oil sales	96		—		—		96
Other revenue (2)	5		—		—		5
Total revenue	$	6,780	$	351	$	(7)	$	7,124

(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 2 (“Summary of Significant Accounting Policies”) for further discussion on the Cushing, OK storage tanks.

Petroleum Segment

The Petroleum Segment’s revenue from product sales is recorded upon delivery 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. Qualifying excise and other taxes collected from the Petroleum Segment’s 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 expenses these broker costs, since the contract durations are less than a year. 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 generally provides no warranty other than the implicit promise that goods delivered are free of liens and encumbrances and meet the agreed upon specification. The Petroleum Segment has determined that product returns or refunds are very rare and will account for them as they occur.

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 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 excise and other taxes collected from the Nitrogen Fertilizer Segment’s 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.

Remaining performance obligations

As of December 31, 2019, the Nitrogen Fertilizer Segment had approximately $9 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Nitrogen Fertilizer Segment expects to recognize approximately $4 million of these performance obligations as revenue by the end of 2020, an additional $3 million by 2021, 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 December 31, 2019, $19 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 Nitrogen Fertilizer Segment.

A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the year ended December 31, 2019 is presented below:


(in millions)
Balance at December 31, 2018	$	69
Add:
New prepay contracts entered into during the period (1)	46
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	18
Other changes	1
Balance at December 31, 2019	$	28

(1)Includes $27 million where the payment associated with prepaid contracts was collected.

Major Customers

Petroleum Segment - The Petroleum Segment has two customers who comprise 25%, 25%, and 27% of petroleum net sales for the years ended December 31, 2019, 2018, and 2017, respectively.

Nitrogen Fertilizer Segment - The Nitrogen Fertilizer Segment has two customers who comprised 28%, 20%, and 16% of nitrogen fertilizer net sales for the years ended December 31, 2019, 2018, and 2017, respectively.

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

(8) 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. On a regular basis, the Company enters into commodity contracts with counterparties for the purchases or sale of crude oil, blendstocks, various finished products, and RINs. The contracts usually qualify for the normal purchase normal sale exception and follow the accrual method of accounting. All other derivative instruments are recorded at fair value using mark-to-market accounting on a periodic basis utilizing third-party pricing.

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 RINs. As of December 31, 2019, the Petroleum Segment had open fixed-price commitments to purchase 20 million RINs.

Commodity derivatives include commodity swaps and forward purchase and sale commitments. There were no outstanding commodity swap positions as of December 31, 2019 and 2018. There were approximately 3 million and 1 million in forward purchase commitments as of December 31, 2019 and 2018, respectively, and 1 million and 1 million in forward sale commitments as of December 31, 2019 and 2018, respectively.

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 Consolidated Statements of Operations:


Gain (Loss) on Derivatives
	Year Ended December 31,
(in millions)	2019		2018		2017
Forward purchases and sales, net	$	20	$	103	$	(26)
Swaps	—		44		(43)
Futures	(1)		(1)		(1)
Total gain (loss) on derivatives, net	$	19	$	146	$	(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 Consolidated Balance Sheets:


Open Commodity Derivative Instruments	Year Ended December 31,
(in millions of barrels)	2019	2018




Forward Contracts:
Canadian crude oil	5	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 Consolidated Balance Sheets as follows:


	Derivative Assets						Derivative Liabilities
	December 31,						December 31,
(in millions)	2019		2018		2019		2018
Commodity Derivatives	$	3	$	8	$	(11)	$	1

Less: Counterparty Netting	(3)		(1)		3		(1)
Total Net Fair Value of Derivatives	$	—	$	7	$	(8)	$	—

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 December 31, 2019 and 2018:


	December 31, 2019
(in millions)	Level 1		Level 2		Level 3		Total
Location and Description




Other current liabilities (commodity derivatives)	$	—	$	(8)	$	—	$	(8)

Other current liabilities (RFS obligation)	—		(7)		—		(7)
Long-term debt	—		(1,180)		—		(1,180)
Total Liabilities	$	—	$	(1,195)	$	—	$	(1,195)


	December 31, 2018
(In millions)	Level 1		Level 2		Level 3		Total
Location and Description
Cash equivalents	$	50	$	—	$	—	$	50

Other current assets (derivative agreements)	—		7		—		7

Total Assets	50		7		—		57


Other current liabilities (RFS obligation)	—		(2)		—		(2)
Long-term debt	—		(1,163)		—		(1,163)
Total Liabilities	$	—	$	(1,165)	$	—	$	(1,165)

As of December 31, 2019 and 2018, the only financial assets and liabilities that are measured at fair value on a recurring basis are the Company’s cash equivalents, 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 year ended December 31, 2019.

Share-Based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

(9) Share-Based Compensation

Overview

CVR Energy, CVR Refining, and CVR Partners all have a Long-Term Incentive Plans (collectively, the “LTIPs”) which permit the granting of options, stock and unit appreciation rights (“SARs”), restricted shares, restricted stock units, phantom units, unit awards, substitute awards, other unit-based awards, cash awards, dividend and distribution equivalent rights, share awards, and performance awards (including performance share units, performance units, and performance-based restricted stock). Individuals who are eligible to receive awards and grants under the LTIPs include the employees, officers, and directors of the Company, CVR Refining, and CVR Partners. The Company had 6.8 million shares or units, as applicable, available for future grants under our plans at December 31, 2019.

Incentive and Phantom Unit Awards

Incentive and phantom unit awards have been granted to officers, employees, and directors (collectively, the “Share-Based Awards”) under the LTIPs. As a result, Share-Based Awards that reflect the value and dividend or distributions of CVR Energy, CVR Refining, or CVR Partners have been granted and remain outstanding as of December 31, 2019. Each Share-Based Award and the related dividend or distribution equivalent right represents the right to receive, upon vesting, a cash payment equal to (i) the average fair market value of one share or unit, as applicable, in accordance with the award agreement, plus (ii) the per share or unit cash value of all dividends or distributions declared and paid, as applicable, from the grant date through the vesting date. The Share-Based Awards are generally graded-vesting awards, which are expected to vest over three years with one-third of the award vesting each year the grantee remains employed by the Company or its subsidiaries. Compensation expense is recognized ratably, based on service provided to the Company and its subsidiaries, with the amount recognized fluctuating as a result of the Share-Based Awards being re-measured to fair value at the end of each reporting period due to their liability-award classification.

A summary of activity for the Company’s Share-Based Awards for the year ended December 31, 2019 is presented below:


	Shares or Units	Weighted-Average Grant-Date Fair Value (per share or unit)		Aggregate Intrinsic Value (in millions)








Non-vested at December 31, 2018	2,432,073	$	12.13	$	24
Granted	1,317,661	16.21
Vested	(1,142,021)	10.98
Forfeited	(154,026)	11.94
Non-vested at December 31, 2019	2,453,687	$	14.88	$	33

Performance Unit Awards

Pursuant to an employment agreement with the Company’s current chief executive officer, the Company entered into two performance award agreements on November 1, 2017. In connection with the performance period of January 1, 2018 to December 31, 2018, a performance award was granted with a target value of $1.5 million (the “2018 CEO Performance Award”). The payout of $1.9 million, paid in February 2019, under the 2018 CEO Performance Award was based on the Company’s performance against certain safety, operating, and financial measures. Additionally, the Company entered into a performance award agreement (the “CEO Performance Award”). The CEO Performance Award represents the right to receive upon vesting, a cash payment equal to $10 million if the average closing price of the Company’s common stock over the 30-trading day period from January 4, 2022 to February 15, 2022 is equal to or greater than $60 per share.

Compensation Expense

A summary of total share based compensation expense and unrecognized compensation expense related to the Share-Based Awards and the Company’s performance awards, the amounts allocated to each of the Company’s segments, and the amounts that were not allocated to segments during the years ended December 31, 2019, 2018, and 2017 is presented below:


	Expenses									Unrecognized Expense
	For the year ended December 31,									At December 31, 2019
(in millions)	2019		2018		2017		Amount		Weighted-Average Remaining Years
Share based awards
Incentive Units	$	12	$	4	$	7	$	22	2.4
Phantom Units	5		8		8		5		2.3

Performance awards
CEO Performance Award	—		2		—		7		2.0
2018 CEO Performance Award	—		2		—		—		0.0
Former CEO Performance Award	—		—		4		—		0.0
Total expense	$	17	$	16	$	19	$	34

The total tax benefit recognized during the years ended December 31, 2019, 2018, and 2017 related to compensation expense was $4 million, $4 million and $7 million respectively. For the years ended December 31, 2019, 2018, and 2017, the Company paid cash of $23 million, $17 million, and $16 million, respectively, to settle liability-classified awards upon vesting.

Other Benefit Plans

The Company sponsors and administers two defined-contribution 401(k) plans, the CVR Energy 401(k) Plan and the CVR Energy 401(k) Plan for Represented Employees (the “Plans”), in which the Company’s employees may participate. Participants in the Plans may elect to contribute a designated percentage of their eligible compensation in accordance with the Plans, subject to statutory limits. The Company provides a matching contribution of 100% of the first 6% of eligible compensation contributed by participants. Participants in both Plans are immediately vested in their individual contributions. The Plans provide for a three-year vesting schedule for the Company’s matching contributions and contain a provision to count service with predecessor organizations. The Company’s contributions under the Plans were approximately $9 million, $9 million, and $9 million for the years ended December 31, 2019, 2018, and 2017, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

(10) Income Taxes

Tax Allocation Agreement

Prior to the CVRR Unit Exchange, CVR Energy was a member of the consolidated federal tax group of AEP, an affiliate of IEP, and party to a tax allocation agreement with AEP (the “Tax Allocation Agreement”). The Tax Allocation Agreement provides that AEP will pay all consolidated federal income taxes on behalf of the consolidated tax group. As a result, CVR Energy was required to make payments to AEP in an amount equal to the tax liability, if any, that it would have had paid if it were to file as a consolidated group separate and apart from AEP.

Following the CVRR Unit Exchange, IEP and affiliates’ ownership of CVR Energy was reduced below 80% and, since that time, CVR Energy is no longer eligible to file as a member of the AEP consolidated federal income tax group. Beginning with the tax period after the exchange, CVR Energy became the parent of a new consolidated group for U.S. federal income tax purposes and will file and pay its federal income tax obligations directly to the IRS. Pursuant to the terms of the Tax Allocation Agreement, however, CVR Energy may be required to make payments in respect of taxes owed by AEP for periods prior to the exchange. Similar principles may apply for state or local income tax purposes where CVR Energy filed combined, consolidated or unitary tax returns with AEP. AEP has been notified by the IRS that its income tax return for the period ended December 31, 2017 will be examined.

As of December 31, 2019 and 2018, the Company recognized a nominal payable and $4 million receivable for income taxes due to or from AEP. The receivable is recognized as Prepaid expenses and other current assets in the Consolidated Balance Sheets. As of December 31, 2019 and 2018, the Company’s Consolidated Balance Sheets also reflected a payable of $20 million to and receivable of $12 million from, respectively, the IRS and certain state jurisdictions.

Income Tax Expense (Benefit)

Income tax expense (benefit) is comprised of the following:


	Year Ended December 31,
(in millions)	2019		2018		2017
Current:
Federal	$	96	$	31	$	(1)
State	5		(7)		(22)
Total current	101		24		(23)
Deferred:
Federal	3		39		(186)
State	25		16		(11)
Total deferred	28		55		(197)
Total income tax expense (benefit)	$	129	$	79	$	(220)

The following is a reconciliation of total income tax expense (benefit) to income tax expense (benefit) computed by applying the statutory federal income tax rate to pretax income:


	Year Ended December 31,
(in millions)	2019		2018		2017
Tax computed at federal statutory rate	$	103	$	94	$	14
State income taxes, net of federal tax benefit	29		12		(14)
State tax incentives, net of federal tax expense	(4)		(4)		(7)


Noncontrolling interest	4		(23)		1
Other, net	(3)		—		—
Adjustment to deferred tax assets and liabilities for enacted change in federal tax rate (1)	—		—		(214)
Total income tax expense (benefit)	$	129	$	79	$	(220)

(1)The income tax benefit for the year ended December 31, 2017 was favorably impacted as a result of the Tax Cuts and Jobs Act legislation that was signed into law in December 2017, reducing the federal income tax rate from 35% to 21% beginning in 2018. As a result, the Company’s net deferred tax liabilities at December 31, 2017 were remeasured to reflect the lower tax rate in effect for the years in which the deferred tax assets and liabilities will be realized.

Deferred Tax Assets and Liabilities

The income tax effect of temporary differences that give rise to the Deferred income tax assets and Deferred income tax liabilities at December 31, 2019 and 2018 are as follows:


	December 31,
(in millions)	2019		2018
Deferred income tax assets:

State tax credit carryforward, net	$	7	$	11


Total gross deferred income tax assets	7		11
Deferred income tax liabilities:


Investment in CVR Partners	(61)		(59)
Investment in CVR Refining	(341)		(327)

Other	(1)		(5)
Total gross deferred income tax liabilities	(403)		(391)
Net deferred income tax liabilities	$	(396)	$	(380)

Although realization is not assured, management believes that it is more likely than not that all of the Deferred income tax assets will be realized, and therefore, no valuation allowance was recognized as of December 31, 2019 and 2018.

As of December 31, 2019, CVR Energy has state tax credits of approximately $16 million, which are available to reduce future state income taxes. These credits can be carried forward indefinitely.

Uncertain Tax Positions

A reconciliation of unrecognized tax benefits is as follows:


	Year Ended December 31,
(in millions)	2019		2018		2017
Balance, beginning of year	$	23	$	29	$	44
Increase in current year tax positions (interest expense)	2		—		—
Reductions related to expirations from statute of limitations	(3)		(6)		(15)
Balance, end of year	$	22	$	23	$	29

Included in the balance of unrecognized tax benefits as of December 31, 2019, 2018, and 2017 are $15 million, $18 million, and $23 million, respectively, of tax benefits that, if recognized, would affect the effective tax rate. Approximately $5 million, $6 million, and $15 million of the unrecognized tax positions relating to state income tax credits were recognized in 2019, 2018, and 2017, respectively, as a result of expirations from statute of limitations. Additionally, the Company believes that it is reasonably possible that approximately $3 million of its unrecognized tax positions related to state income tax credits may be recognized by the end of 2020 as a result of the expiration of statute of limitations. Approximately $10 million and $22 million of unrecognized tax benefits were netted with Deferred income tax asset carryforwards as of December 31, 2019 and 2018, respectively. The remaining unrecognized tax benefits are included in Other long-term liabilities in the Consolidated Balance Sheets.

CVR Energy recognized nominal interest benefit and nominal liability for interest as of December 31, 2019, interest benefit of approximately $1 million and a nominal liability for interest as of December 31, 2018, and interest expense of approximately $7 million and recognized a liability for interest of approximately $1 million as of December 31, 2017. No penalties were recognized during 2019, 2018, or 2017.

At December 31, 2019, the Company’s tax filings are generally open to examination in the United States for the tax years ended December 31, 2016 through December 31, 2018 and in various individual states for the tax years ended December 31, 2015 through December 31, 2018.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

(11) Commitments and Contingencies

Supply Commitments

The minimum required payments for unconditional purchase obligations are as follows:


Year Ended December 31,	Unconditional Purchase Obligations
(in millions)
2020	$	95
2021	80
2022	77
2023	75
2024	71
Thereafter	375
	$	773

Supply Commitments - The Company is a party to various supply agreements with both related and third parties which commit the Company to purchase minimum volumes of crude oil, hydrogen, oxygen, nitrogen, pet coke, and natural gas to run its facilities’ operations. For the years ended December 31, 2019, 2018, and 2017, amounts purchased under these supply agreements totaled approximately $167 million, $214 million, and $209 million, respectively.

Crude Oil Supply Agreement

On August 31, 2012, an indirect, wholly-owned subsidiary of CVR Refining entered into an Amended and Restated Crude Oil Supply Agreement (as amended, the “Crude Oil Supply Agreement”) with Vitol Inc. (“Vitol”). 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 locations 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 36%, 42% and 55% for the years ended December 31, 2019, 2018, and 2017, respectively. The Crude Oil Supply Agreement, which currently extends through December 31, 2020, 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.

Contingencies

CVRR Unit Purchase - During 2019, the Company, CVR Refining and its general partner, CVR Refining Holdings, IEP, and certain directors and affiliates have been named in at least one of nine lawsuits filed in the Court of Chancery of the State of Delaware 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. In January 2020, the court dismissed CVR Holdings and certain former directors of CVR Refining’s general partner from the Call Option Lawsuits, although permitted some or all of the claims to proceed against each remaining defendant. The Company believes the Call Option Lawsuits are without merit and intends to vigorously defend against them. The Call Option Lawsuits remain in the early stages of litigation. Accordingly the Company cannot determine at this time the outcome of the Call Option Lawsuits, including whether the outcome of this matter would have a material impact on the Company’s financial position, results of operations, or cash flows.

Property Tax Matter - In September 2018, the Kansas Court of Appeals upheld property tax determinations by the Kansas Board of Tax Appeals in connection with Coffeyville Resources Nitrogen Fertilizer, LLC’s (“CRNF”) dispute with Montgomery County, Kansas (the “County”) over prior year property tax payments as previously disclosed. On October 29, 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 which the County agrees to withdraw its petition to the Kansas Supreme Court and CRNF is expected to recover approximately $8 million through favorable property tax assessments from 2019 through 2028, subject to the terms of the settlement agreement.

Wynnewood Small Refinery Exemption - During 2019, Wynnewood Refining Company, LLC (“WRC”) intervened in a lawsuit filed by four ethanol and biofuels trade associations against the EPA, claiming the EPA exceeded its authority in granting Wynnewood’s 2017 small refinery exemption (“SRE”) under the RFS program under the CAA, as well as the SREs of two other unrelated refineries. In January 2020, the 10th Circuit Court of Appeals vacated the three SREs and remanded the matter to the EPA for further proceedings, holding, in part, that the “extension” language in the CAA requires a small refinery to have received an SRE continuously in every year since inception of the program to be eligible. As the EPA has not yet acted following remand by the court, and as Wynnewood intends to appeal this ruling, we cannot currently estimate the outcome, impact, or timing of the resolution of this matter.

Environmental, Health, and Safety (“EHS”) Matters

Clean Air Act Matter - On August 21, 2018, Coffeyville Resources Refining and Marketing (“CRRM”), a subsidiary of CVR Refining, received a letter from the United States Department of Justice (“DOJ”) on behalf of the EPA and Kansas Department of Health and Environment (“KDHE”) alleging violations of the Clean Air Act (“CAA”) and a 2012 Consent Decree between CRRM, the United States (on behalf of EPA), and KDHE at CRRM’s Coffeyville refinery. In September 2018, CRRM executed a tolling agreement with the DOJ and KDHE extending time for negotiation regarding the agencies’ allegations through March 2019, and this tolling agreement was extended through April 30, 2020. At this time the Company cannot reasonably estimate the potential penalties, costs, fines or other expenditures that may result from this matter or any subsequent enforcement or litigation relating thereto and, therefore, the Company cannot determine if the ultimate outcome of this matter will have a material impact on the Company’s financial position, results of operations or cash flows.

Renewable Fuel Standards - The Company’s 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 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, and may have to obtain waiver credits for cellulosic biofuels from the EPA, in order to comply with the RFS.

The Company recognized an expense of approximately $43 million, $60 million, and $249 million for the years ended December 31, 2019, 2018, and 2017, respectively, for the Petroleum Segment’s compliance with the RFS. The recognized amounts are included within Cost of materials and other in the Consolidated Statements of Operations. The Company’s costs to comply with the RFS include the purchased cost of RINs acquired, 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 acquired in excess of its RFS obligation as of the reporting date. During the year ended December 31, 2019, the Company’s cost to comply with RFS was favorably impacted by a reduction in CVR Refining’s RFS obligation and reduced market pricing. As of December 31, 2019 and 2018, the Petroleum Segment’s RFS obligation was approximately $7 million and $4 million, respectively, which is recorded in Other current liabilities in the Consolidated Balance Sheets.

Environmental Remediation - As of December 31, 2019 and 2018, environmental accruals representing estimated costs for future remediation efforts at certain Petroleum Segment sites totaled approximately $6 million and $8 million, respectively. These amounts are reflected in Other current liabilities or Other long-term liabilities depending on when the Company expects to expend such amounts.

Wynnewood Refinery Incident - On September 28, 2012, the Petroleum Segment’s Wynnewood refinery, owned and operated by WRC, an indirect wholly-owned subsidiary of CVR Refining, experienced an explosion in a boiler unit during startup after a short outage as part of the turnaround process. Two employees were fatally injured. Damage at the refinery was limited to the boiler. Additionally, there was no environmental impact. The refinery was in the final stages of shutdown for turnaround maintenance at the time of the incident. The Company completed an internal investigation of the incident and cooperated with the Occupational Safety and Health Administration (“OSHA”) in its investigation. OSHA also conducted a general inspection of the facility during the boiler incident investigation. In March 2013, OSHA completed its investigation, communicated its citations, and placed WRC in its Severe Violators Enforcement Program (“SVEP”). The Company is vigorously contesting the citations and OSHA’s placement of WRC in the SVEP. Any penalties associated with OSHA’s citations are not expected to have a material adverse effect on the consolidated financial statements.

Business Segments

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Business Segments

(12) Business Segments

The Company has two operating segments: Petroleum and Nitrogen Fertilizer. These operating segments are also the Company’s reportable segments. As discussed in Note 1 (“Organization and Nature of Business”), the Petroleum Segment is comprised entirely of the consolidated operations of CVR Refining and its subsidiaries, while the Nitrogen Fertilizer Segment is comprised entirely of the consolidated operations of CVR Partners and its subsidiaries. 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. All operations of the segments are located within the United States.

The following tables summarize operating results, capital expenditures, and total asset information by segment:


	Year Ended December 31,
(in millions)	2019		2018		2017
Net sales
Petroleum	$	5,968	$	6,780	$	5,664
Nitrogen Fertilizer	404		351		331
Other	(8)		(7)		(7)
Total	$	6,364	$	7,124	$	5,988










Operating income (loss)
Petroleum	$	574	$	544	$	172
Nitrogen Fertilizer	27		6		(10)
Other	(21)		(18)		(17)
Total	580		532		145
Interest expense, net	(102)		(102)		(109)

Other income, net	13		15		2
Income before income taxes	$	491	$	445	$	38
Depreciation and amortization
Petroleum	$	202	$	196	$	177
Nitrogen Fertilizer	80		72		74
Other	5		6		7
Total	$	287	$	274	$	258
Capital expenditures (1)
Petroleum	$	89	$	89	$	103
Nitrogen fertilizer	20		19		12
Other	5		3		—
Total	$	114	$	111	$	115

The following table summarizes total assets by segment:


	December 31,
(in millions)	2019		2018
Petroleum	$	3,187	$	2,453
Nitrogen Fertilizer	1,138		1,254
Other (2)	(420)		293
Total assets	$	3,905	$	4,000

(1)Capital expenditures are shown exclusive of capitalized turnaround and capitalized software costs.

(2)Includes elimination of intercompany assets.

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

(13) Supplemental Cash Flow Information

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


	Year Ended December 31,
(in millions)	2019		2018		2017
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$	69	$	31	$	15
Cash paid for interest	104		103		106
Cash paid for amounts included in the measurement of lease liabilities (1):
Operating cash flows from operating leases	16
Operating cash flows from finance leases	6
Financing cash flows from finance leases	5
Non-cash investing and financing activities:
Change in construction in progress included in accounts payable (2)	(7)		9		(5)

(1)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. See Note 2 (“Summary of Significant Accounting Policies”).

(2)Capital expenditures are shown exclusive of capitalized turnaround expenditures and capitalized software.

Related Party Transactions

12 Months Ended

Dec. 31, 2019

Related Party Transactions

(14) Related Party Transactions

Activity associated with the Company’s related party arrangements for the years ended December 31, 2019, 2018, and 2017 is summarized below:


Expenses with related parties
	Year Ended December 31,
(in millions)	2019		2018		2017
Cost of materials and other


Joint Venture Transportation Agreement:
Enable JV	$	12	$	8	$	2

Payments (received) made

Dividends (1)	218		179		142
Tax Allocation Agreement:
American Entertainment Properties Corporation	(3)		12		15


Amounts due from related parties
(in millions)	December 31, 2019		December 31, 2018
Tax Allocation Agreement:
American Entertainment Properties Corporation	$	—	$	4

(1)See below for a summary of the dividends paid to IEP for the years ended December 31, 2019, 2018, and 2017.

Enable Joint Venture Agreement

CVR Refining is party to a transportation agreement as part of the Enable JV for an initial term of 20 years under which Enable provides transportation services for crude oil purchased within a defined geographic area. Additionally, CVR Refining entered into a terminalling services agreement with Enable JV under which it receives access to Enable JV’s terminal in Lawrence, Oklahoma to unload and pump crude oil into Enable JV’s pipeline for an initial term of 20 years.

Midway Joint Venture

For the years ended December 31, 2019, 2018, and 2017, CRRM incurred costs of $21 million, $18 million, and $3 million, respectively, from crude oil transportation services incurred on the Midway JV through Vitol as the intermediary purchasing agent.

Property Exchange

On October 18, 2019, the audit committee of CVR Energy and the Conflicts Committee of the board of directors of CVR GP each agreed to authorize the exchange of certain parcels of property owned by subsidiaries of CVR Energy with an equal number of parcels owned by subsidiaries of CVR Partners, all located in Coffeyville, Kansas (the “Property Exchange”). On February 19, 2020, a subsidiary of CVR Energy and a subsidiary of CVR Partners executed the Property Exchange agreement. This Property Exchange will enable each such subsidiary to create a more usable, contiguous parcel of land near its own operating footprint. CVR Energy and the Partnership accounted for this transaction in accordance with the ASC 805-50 guidance on transferring assets between entities under common control. This transaction had a net impact to the Partnership’s partners’ capital of approximately $0.1 million.

Dividends to CVR Energy Stockholders

IEP, through its ownership of the Company’s common shares, is entitled to receive dividends that are declared and paid by the Company based on the number of shares held at each record date. The following presents dividends paid to the Company's stockholders, including IEP, during the years ended December 31, 2019:


				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Share		Stockholders		IEP		Total
2018 - 4th Quarter	March 11, 2019	$	0.75	$	22	$	53	$	75
2019 - 1st Quarter	May 13, 2019	0.75		21		54		75
2019 - 2nd Quarter	August 12, 2019	0.75		21		54		75
2019 - 3rd Quarter	November 11, 2019	0.80		24		57		81
Total		$	3.05	$	88	$	218	$	306

On February 19, 2020, the Company’s Board of Directors declared a cash dividend for the fourth quarter of 2019 to the Company’s stockholders of $0.80 per share, or $80 million in the aggregate. The dividend will be paid on March 9, 2020 to stockholders of record at the close of business on March 2, 2020. IEP will receive approximately $57 million in respect of 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 Company’s Board of Directors.

During the years ended December 31, 2018 and 2017, the Company paid dividends totaling $2.50 and $2.00 per common unit, or $238 million and $174 million, respectively. Of these dividends, IEP received $179 million and $142 million, respectively, for the same periods.

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 December 31, 2019.


				Distributions Paid (in millions)
Related Period	Date Paid	Distribution Per Common Unit		Public 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
2019 - 2nd Quarter	August 12, 2019	0.14		11		5		16
2019 - 3rd Quarter	November 11, 2019	0.07		5		3		8
Total		$	0.40	$	30	$	16	$	46

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. No distributions were declared for the fourth quarter of 2019.

The Partnership did not pay distributions during the year ended December 31, 2018, while during the year ended December 31, 2017, it paid a distribution of $0.02 per common unit, or $2 million. Of this distribution, CVR Energy received $1 million.

Affiliate Pension Obligations

Prior to the exchange offer discussed in Note 1 (“Organization and Nature of Business”), Mr. Carl C. Icahn, through certain affiliates, owned approximately 82% of the Company’s capital stock. Applicable pension and tax laws make each member of a “controlled group” of entities, generally defined as entities in which there is at least an 80% common ownership interest, jointly and severally liable for certain pension plan obligations of any member of the controlled group. These pension obligations include ongoing contributions to fund the plan, as well as liability for any unfunded liabilities that may exist at the time the plan is terminated. As a result of the historical ownership interest in CVR Energy by Mr. Icahn’s affiliates (prior to the exchange offer), the Company was subject to the pension liabilities of all entities in which Mr. Icahn had a direct or indirect ownership interest of at least 80%. Two such entities, ACF Industries LLC (“ACF”) and Federal-Mogul, are the sponsors of several pension plans. As members of the controlled group, CVR Energy would be liable for any failure of ACF and Federal-Mogul to make ongoing pension contributions or to pay the unfunded liabilities upon a termination of their respective pension plans. The unfunded plan balances for these sponsors was $435 million and $424 million as of June 30, 2018 and December 31, 2017, respectively. These results are based on the information provided by Mr. Icahn’s affiliates based on information from the plans’ actuaries. As of December 31, 2019 and 2018, and following the exchange offer, Mr. Icahn’s affiliates owned approximately 71% of the Company’s capital stock, and therefore, the Company is no longer considered to be liable for the aforementioned pension obligations of the controlled group. On October 1, 2018, Federal-Mogul was sold by Mr. Icahn’s affiliates to a third-party.

Selected Quarterly Financial Information

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information

(15) Selected Quarterly Financial Information

Summarized quarterly financial data for December 31, 2019 and 2018 is as follows:


	Year Ended December 31, 2019
	Quarter
(in millions)	First		Second		Third		Fourth
Net sales	$	1,486	$	1,687	$	1,622	$	1,569
Cost of materials and other (1)	1,101		1,267		1,221		1,262
Direct operating expenses (1)	126		132		139		136
Operating income	160		192		159		69
Net income	102		128		104		28
Net income (loss) attributable to noncontrolling interest	1		12		(15)		(16)
Net income attributable to CVR Energy stockholders	$	101	$	116	$	119	$	44

Basic and diluted earnings per share	$	1.00	$	1.16	$	1.18	$	0.44
Dividends declared per share	$	0.75	$	0.75	$	0.75	$	0.80

Weighted-average common shares outstanding - basic and diluted	100.5		100.5		100.5		100.5


	Year Ended December 31, 2018
	Quarter
(in millions)	First		Second		Third		Fourth
Net sales	$	1,536	$	1,915	$	1,935	$	1,738
Cost of materials and other (1)	1,179		1,560		1,556		1,388
Direct operating expenses (1)	130		140		120		127
Operating income	136		108		164		124
Net income	93		70		108		95
Net income attributable to noncontrolling interest	33		24		28		22
Net income attributable to CVR Energy stockholders	$	60	$	46	$	80	$	73

Basic and diluted earnings per share	$	0.69	$	0.53	$	0.85	$	0.73
Dividends declared per share	$	0.50	$	0.50	$	0.75	$	0.75

Weighted-average common shares outstanding - basic and diluted	86.8		86.8		95.8		100.5

(1)Excludes depreciation and amortization expenses.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Principles of Consolidation

Reclassifications

Certain reclassifications have been made within the consolidated financial statements for the years ended December 31, 2018 and 2017 to conform with current presentation.

Use of Estimates

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and on deposit, investments in highly liquid money market accounts, and debt instruments with original maturities of three months or less.

Accounts Receivable, net

Allowances for doubtful accounts are generally recorded when it becomes probable the receivable will not be collected and is booked to bad debt expense.

Inventories

InventoriesInventories consist primarily of domestic and foreign crude oil, blending stock and components, work-in-progress, fertilizer products, and refined fuels and by-products. All inventories are valued at the lower of the first-in, first-out (“FIFO”) cost, or net realizable value. The Petroleum Segment’s unfinished and finished products inventory values were determined using the ability-to-bear methodology. Other inventories in the Petroleum and Nitrogen Fertilizer Segments, including other raw materials, spare parts, and supplies, are valued at the lower of moving-average cost, which approximates FIFO, or net realizable value. The cost of inventories includes inbound freight costs.

Property, Plant and Equipment


Asset						Range of Useful Lives, in Years
Land and improvements						15 to 30
Buildings and improvements						20 to 30
Machinery and equipment						5 to 30
Furniture and fixtures						3 to 10
ROU finance leases						1 to 25
Other						5 to 30

Property, plant and equipment consisted of the following:


	December 31,
(in millions)	2019		2018
Machinery and equipment (1)	$	3,859	$	3,785
Buildings and improvements	87		87
Land and improvements	46		43
Furniture and fixtures	35		33
ROU finance leases	27		—
Construction in progress	95		102
Other	14		17
	4,163		4,067
Less: Accumulated depreciation	1,827		1,637
Total Property, plant and equipment, net	$	2,336	$	2,430

Leases

Deferred Financing Costs

Impairment of Long-Lived Assets

Loss Contingencies

Loss ContingenciesIn 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.

Environmental, Health & Safety (EHS) Matters

Environmental, Health & Safety (“EHS”) Matters

Revenue Recognition and Cost Classifications

Revenue Recognition

Other considerations - For both segments, excise and other taxes collected from customers and remitted to governmental authorities are excluded from reported revenues.

Cost ClassificationsCost of materials and other includes cost of crude oil, other feedstocks, blendstocks, purchased refined products, pet coke expenses, Renewable Identification Number (“RIN”) expenses, derivative gains or losses, and freight and distribution costs. Direct operating expenses (exclusive of depreciation and amortization) consist primarily of energy and other utility costs, direct costs of labor, including applicable share-based compensation expense, property taxes, plant-related maintenance services, and environmental and safety compliance costs, as well as catalyst and chemical costs. Selling, general and administrative expenses (exclusive of depreciation and amortization) consist primarily of labor and other direct expenses associated with the Company’s corporate activities, including accounting, finance, information technology, human resources, legal, and other related administrative functions. For the Company’s Nitrogen Fertilizer Segment, each of these financial statement line items are also impacted by changes in inventory balances.

Derivatives and Fair Value of Financial Instruments

Turnaround Expenses

Nitrogen Fertilizer Segment - The Nitrogen Fertilizer Segment follows the direct-expense method of accounting for turnaround activities.

Share-Based Compensation

Income Taxes

Earnings Per Share

There were no dilutive awards outstanding during the years ended December 31, 2019, 2018, and 2017.

Recent Accounting Pronouncements

Recent Accounting Pronouncements - Adoption of Lease Standard

•Only ROU assets and related lease liabilities for leases with an initial 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 consolidated statements of operations or cash flows. See Note 4 (“Leases”) for further discussion.


(in millions)	December 31, 2018 As Stated (1)		Effect of Adoption of Topic 842			January 1, 2019 As Adjusted

Current assets:




Prepaid expenses and other current assets	$	76	$	(3)	(2)	$	73
Total currents assets	1,293		(3)			1,290
Property, plant and equipment, net	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

(2)Represents lease prepayments reclassified to ROU assets.

(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.

Recent Accounting Pronouncements - Adoption of Internal-Use Software Standard

Recent Accounting Pronouncements - New Accounting Standards Issued But Not Yet Implemented

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of inventories

Inventories consisted of the following:


	December 31,
(in millions)	2019		2018
Raw materials	$	112	$	101
In-process inventories	18		12
Finished goods	177		186
Parts and supplies	83		81
Total Inventories	$	390	$	380

Schedule of lives used in computing depreciation for depreciable assets and components of property, plant and equipment

The lives used in computing depreciation for significant asset classes are as follows:


Asset						Range of Useful Lives, in Years
Land and improvements						15 to 30
Buildings and improvements						20 to 30
Machinery and equipment						5 to 30
Furniture and fixtures						3 to 10
ROU finance leases						1 to 25
Other						5 to 30

Property, plant and equipment consisted of the following:


	December 31,
(in millions)	2019		2018
Machinery and equipment (1)	$	3,859	$	3,785
Buildings and improvements	87		87
Land and improvements	46		43
Furniture and fixtures	35		33
ROU finance leases	27		—
Construction in progress	95		102
Other	14		17
	4,163		4,067
Less: Accumulated depreciation	1,827		1,637
Total Property, plant and equipment, net	$	2,336	$	2,430

Effect of accounting standards adoption and accounting changes on financial statements

Effect of Turnaround Accounting Change on Consolidated Balance Sheet as of December 31, 2018


	December 31, 2018
(in millions)	As Previously Reported		Effect of Turnaround Accounting Change		As Stated








Property, plant and equipment, net of accumulated depreciation	$	2,445	$	(15)	$	2,430
Other long-term assets (1)	169		108		277
Total assets	$	3,907	$	93	$	4,000






Long-term liabilities:


Deferred income taxes (2)	$	362	$	18	$	380

Total long-term liabilities	1,543		18		1,561
Equity:
CVR stockholders’ equity:

Additional paid-in-capital	$	1,473	$	1	$	1,474
Retained deficit	(226)		39		(187)

Total CVR stockholders’ equity	1,246		40		1,286
Noncontrolling interest	622		35		657
Total equity	1,868		75		1,943
Total liabilities and equity	$	3,907	$	93	$	4,000

(1) This represents the capitalized turnaround asset recognized due to the turnaround policy change.

(2) This represents the increase in deferred tax liability due to the recognition of the capitalized turnaround asset.

Effect of Turnaround Accounting on Consolidated Statement of Operations and Consolidated Statement of Cash Flows for the Years Ended December 31, 2018 and 2017


	Year Ended December 31,
	2018										2017
(in millions)	As Previously Reported		Effect of Turnaround Accounting Change		As Stated		As Previously Reported		Effect of Turnaround Accounting Change		As Stated
Consolidated Statement of Operations
Direct operating expenses	$	523	$	(6)	$	517	$	598	$	(82)	$	516
Depreciation and amortization	202		61		263		203		44		247


Income tax expense (benefit)	89		(10)		79		(217)		(3)		(220)
Net income (loss)	$	411	$	(45)	$	366	$	217	$	41	$	258
Less: Net income attributable to noncontrolling interest	122		(15)		107		(18)		13		(5)
Net income attributable to CVR Energy stockholders	$	289	$	(30)	$	259	$	235	$	28	$	263

Consolidated Statement of Cash Flows



Net cash provided by operating activities	$	620	$	8	$	628	$	168	$	80	$	248

Net cash used by investing activities	$	(100)	$	(8)	$	(108)	$	(196)	$	(80)	$	(276)


(in millions)	December 31, 2018 As Stated (1)		Effect of Adoption of Topic 842			January 1, 2019 As Adjusted

Current assets:




Prepaid expenses and other current assets	$	76	$	(3)	(2)	$	73
Total currents assets	1,293		(3)			1,290
Property, plant and equipment, net	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

(2)Represents lease prepayments reclassified to ROU assets.

(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.

Equity Method Investments (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Schedule of equity method investments


(in millions)	Enable JV		Midway JV		Total
Balance at December 31, 2017	6		77		83

Cash Distributions	(2)		(5)		(7)
Equity income	2		6		8
Balance at December 31, 2018	6		78		84
Cash Distributions	(4)		(9)		(13)
Equity income	4		6		10
Balance at December 31, 2019	$	6	$	75	$	81

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Right-of-use assets for operating and finance leases

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 recognized upon adoption of Topic 842 as of January 1, 2019.

Lease liabilities for operating and finance leases

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 December 31, 2019:


(in millions)	December 31, 2019
Operating Leases:
ROU assets, net
Pipeline and storage	$	20
Railcars	12
Real estate and other	16
Lease liability
Pipelines and storage	$	22
Railcars	12
Real estate and other	14


(in millions)	December 31, 2019
Finance Leases:
ROU assets, net
Pipeline and storage	$	29
Real estate and other	24
Lease liability
Pipelines and storage	$	40
Real estate and other	25

Lease expense, terms, and discount rates

For the year ended December 31, 2019, we recognized lease expense comprised of the following components:


(in millions)	December 31, 2019
Operating lease expense	$	12
Finance lease expense:
Amortization of ROU	$	7
Interest expense on lease liability	6

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


	December 31, 2019		January 1, 2019 (initial recognition)
Weighted-average remaining lease term (years)
Operating Leases	3.7		4.4
Finance Leases	9.0		10.3
Weighted-average discount rate
Operating Leases	5.6	%	5.8	%
Finance Leases	8.9	%	9.8	%

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 December 31, 2019:


(in millions)	Operating Leases		Finance Leases
2020	$	16	$	11
2021	14		11
2022	11		11
2023	7		10
2024	4		10
Thereafter	—		43
Total lease payments	52		96
Less: imputed interest	(4)		(31)
Total lease liability	$	48	$	65

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 December 31, 2019:


(in millions)	Operating Leases		Finance Leases
2020	$	16	$	11
2021	14		11
2022	11		11
2023	7		10
2024	4		10
Thereafter	—		43
Total lease payments	52		96
Less: imputed interest	(4)		(31)
Total lease liability	$	48	$	65

Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

Other current liabilities were as follows:


	December 31,
(in millions)	2019		2018
Personnel accruals	$	47	$	40
Accrued taxes other than income taxes	28		28
Deferred revenue	28		69
Accrued income taxes	24		—
Operating lease liabilities (1)	14		—
Accrued interest	9		9
Accrued derivatives	7		—
Accrued Renewable Fuel Standards (“RFS”) obligation	7		4
Share-based compensation	6		5
Other accrued expenses and liabilities	9		18
Total other current liabilities	$	179	$	173

(1) 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.

Long-Term Debt and Finance Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of long-term debt


	December 31,
(in millions)	2019		2018
CVR Partners:
9.25% Senior Secured Notes due June 2023 (1)	$	645	$	645
6.50% Senior Notes due April 2021	2		2
Unamortized discount and debt issuance costs	(15)		(18)
Total CVR Partners debt	$	632	$	629
CVR Refining:
6.50% Senior Notes due November 2022 (2)	$	500	$	500
Finance lease obligations, net of current portion (3)	61		41
Unamortized debt issuance cost	(3)		(3)
Total CVR Refining debt	558		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.

(3)Current portion of finance lease obligations was approximately $5 million and $3 million as of December 31, 2019 and 2018, respectively.

Credit Facilities


(in millions)	Total Capacity		Amount Borrowed as of December 31, 2019		Outstanding Letters of Credit		Available Capacity as of December 31, 2019		Maturity Date
CVR Partners:
Asset Based (“AB”) Credit Facility (1)	50		—		—		50		September 30, 2021
CVR Refining:
Amended and Restated Asset Based (“Amended and Restated ABL”) Credit Facility (2)	$	400	$	—	$	7	$	393	November 14, 2022

Schedule of redemption prices as percentage of principal amount


12-month period beginning June 15,						Percentage
2019						104.625%
2020						102.313%
2021 and thereafter						100.000%


2025 Notes			2028 Notes
12-month period beginning February 15,	Percentage	12-month period beginning February 15,	Percentage
2022	102.625%	2023	102.875%
2023	101.313%	2024	101.917%
2024 and thereafter	100.000%	2025	100.958%
		2026 and thereafter	100.000%

- 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

Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major product


	Year Ended December 31, 2019
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Gasoline	$	3,050	$	—	$	—	$	3,050
Distillates (1)	2,705		—		—		2,705
Ammonia	—		94		—		94
UAN	—		251		—		251
Other urea products	—		18		—		18

Freight revenue	23		33		—		56
Other (2)	129		8		(8)		129
Revenue from product sales	5,907		404		(8)		6,303

Crude oil sales	58		—		—		58
Other revenue (2)	3		—		—		3
Total revenue	$	5,968	$	404	$	(8)	$	6,364


	Year Ended December 31, 2018
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Gasoline	$	3,383	$	—	$	—	$	3,383
Distillates (1)	3,083		—		—		3,083
Ammonia	—		66		—		66
UAN	—		222		—		222
Other urea products	—		21		—		21
Freight revenue	23		34		—		57
Other (2)	190		8		(7)		191
Revenue from product sales	6,679		351		(7)		7,023

Crude oil sales	96		—		—		96
Other revenue (2)	5		—		—		5
Total revenue	$	6,780	$	351	$	(7)	$	7,124

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

Summary of deferred revenue activity

A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the year ended December 31, 2019 is presented below:


(in millions)
Balance at December 31, 2018	$	69
Add:
New prepay contracts entered into during the period (1)	46
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	18
Other changes	1
Balance at December 31, 2019	$	28

(1)Includes $27 million where the payment associated with prepaid contracts was collected.

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gain (loss) on derivatives

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 Consolidated Statements of Operations:


Gain (Loss) on Derivatives
	Year Ended December 31,
(in millions)	2019		2018		2017
Forward purchases and sales, net	$	20	$	103	$	(26)
Swaps	—		44		(43)
Futures	(1)		(1)		(1)
Total gain (loss) on derivatives, net	$	19	$	146	$	(70)

Schedule of open commodity derivative instruments

The following outlines our open commodity derivative instruments, which are classified as Prepaid expenses and other current assets and Other current liabilities on the Consolidated Balance Sheets:


Open Commodity Derivative Instruments	Year Ended December 31,
(in millions of barrels)	2019	2018




Forward Contracts:
Canadian crude oil	5	2

Derivative offsetting assets

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 Consolidated Balance Sheets as follows:


	Derivative Assets						Derivative Liabilities
	December 31,						December 31,
(in millions)	2019		2018		2019		2018
Commodity Derivatives	$	3	$	8	$	(11)	$	1

Less: Counterparty Netting	(3)		(1)		3		(1)
Total Net Fair Value of Derivatives	$	—	$	7	$	(8)	$	—

Derivative offsetting liabilities


	Derivative Assets						Derivative Liabilities
	December 31,						December 31,
(in millions)	2019		2018		2019		2018
Commodity Derivatives	$	3	$	8	$	(11)	$	1

Less: Counterparty Netting	(3)		(1)		3		(1)
Total Net Fair Value of Derivatives	$	—	$	7	$	(8)	$	—

Schedule of 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 December 31, 2019 and 2018:


	December 31, 2019
(in millions)	Level 1		Level 2		Level 3		Total
Location and Description




Other current liabilities (commodity derivatives)	$	—	$	(8)	$	—	$	(8)

Other current liabilities (RFS obligation)	—		(7)		—		(7)
Long-term debt	—		(1,180)		—		(1,180)
Total Liabilities	$	—	$	(1,195)	$	—	$	(1,195)


	December 31, 2018
(In millions)	Level 1		Level 2		Level 3		Total
Location and Description
Cash equivalents	$	50	$	—	$	—	$	50

Other current assets (derivative agreements)	—		7		—		7

Total Assets	50		7		—		57


Other current liabilities (RFS obligation)	—		(2)		—		(2)
Long-term debt	—		(1,163)		—		(1,163)
Total Liabilities	$	—	$	(1,165)	$	—	$	(1,165)

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Schedule of share-based compensation activity

A summary of activity for the Company’s Share-Based Awards for the year ended December 31, 2019 is presented below:


	Shares or Units	Weighted-Average Grant-Date Fair Value (per share or unit)		Aggregate Intrinsic Value (in millions)








Non-vested at December 31, 2018	2,432,073	$	12.13	$	24
Granted	1,317,661	16.21
Vested	(1,142,021)	10.98
Forfeited	(154,026)	11.94
Non-vested at December 31, 2019	2,453,687	$	14.88	$	33


	Expenses									Unrecognized Expense
	For the year ended December 31,									At December 31, 2019
(in millions)	2019		2018		2017		Amount		Weighted-Average Remaining Years
Share based awards
Incentive Units	$	12	$	4	$	7	$	22	2.4
Phantom Units	5		8		8		5		2.3

Performance awards
CEO Performance Award	—		2		—		7		2.0
2018 CEO Performance Award	—		2		—		—		0.0
Former CEO Performance Award	—		—		4		—		0.0
Total expense	$	17	$	16	$	19	$	34

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of income tax expense (benefit)

Income tax expense (benefit) is comprised of the following:


	Year Ended December 31,
(in millions)	2019		2018		2017
Current:
Federal	$	96	$	31	$	(1)
State	5		(7)		(22)
Total current	101		24		(23)
Deferred:
Federal	3		39		(186)
State	25		16		(11)
Total deferred	28		55		(197)
Total income tax expense (benefit)	$	129	$	79	$	(220)

Schedule of reconciliation of total income tax expense (benefit) to income tax expense (benefit) computed by applying the statutory federal income tax rate to pre-tax income (loss)

The following is a reconciliation of total income tax expense (benefit) to income tax expense (benefit) computed by applying the statutory federal income tax rate to pretax income:


	Year Ended December 31,
(in millions)	2019		2018		2017
Tax computed at federal statutory rate	$	103	$	94	$	14
State income taxes, net of federal tax benefit	29		12		(14)
State tax incentives, net of federal tax expense	(4)		(4)		(7)


Noncontrolling interest	4		(23)		1
Other, net	(3)		—		—
Adjustment to deferred tax assets and liabilities for enacted change in federal tax rate (1)	—		—		(214)
Total income tax expense (benefit)	$	129	$	79	$	(220)

Schedule of income tax effect of temporary differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities

The income tax effect of temporary differences that give rise to the Deferred income tax assets and Deferred income tax liabilities at December 31, 2019 and 2018 are as follows:


	December 31,
(in millions)	2019		2018
Deferred income tax assets:

State tax credit carryforward, net	$	7	$	11


Total gross deferred income tax assets	7		11
Deferred income tax liabilities:


Investment in CVR Partners	(61)		(59)
Investment in CVR Refining	(341)		(327)

Other	(1)		(5)
Total gross deferred income tax liabilities	(403)		(391)
Net deferred income tax liabilities	$	(396)	$	(380)

Schedule of reconciliation of the unrecognized tax benefits

A reconciliation of unrecognized tax benefits is as follows:


	Year Ended December 31,
(in millions)	2019		2018		2017
Balance, beginning of year	$	23	$	29	$	44
Increase in current year tax positions (interest expense)	2		—		—
Reductions related to expirations from statute of limitations	(3)		(6)		(15)
Balance, end of year	$	22	$	23	$	29

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of minimum required payments for unconditional purchase obligations

The minimum required payments for unconditional purchase obligations are as follows:


Year Ended December 31,	Unconditional Purchase Obligations
(in millions)
2020	$	95
2021	80
2022	77
2023	75
2024	71
Thereafter	375
	$	773

Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of segment information

The following tables summarize operating results, capital expenditures, and total asset information by segment:


	Year Ended December 31,
(in millions)	2019		2018		2017
Net sales
Petroleum	$	5,968	$	6,780	$	5,664
Nitrogen Fertilizer	404		351		331
Other	(8)		(7)		(7)
Total	$	6,364	$	7,124	$	5,988










Operating income (loss)
Petroleum	$	574	$	544	$	172
Nitrogen Fertilizer	27		6		(10)
Other	(21)		(18)		(17)
Total	580		532		145
Interest expense, net	(102)		(102)		(109)

Other income, net	13		15		2
Income before income taxes	$	491	$	445	$	38
Depreciation and amortization
Petroleum	$	202	$	196	$	177
Nitrogen Fertilizer	80		72		74
Other	5		6		7
Total	$	287	$	274	$	258
Capital expenditures (1)
Petroleum	$	89	$	89	$	103
Nitrogen fertilizer	20		19		12
Other	5		3		—
Total	$	114	$	111	$	115

The following table summarizes total assets by segment:


	December 31,
(in millions)	2019		2018
Petroleum	$	3,187	$	2,453
Nitrogen Fertilizer	1,138		1,254
Other (2)	(420)		293
Total assets	$	3,905	$	4,000

(1)Capital expenditures are shown exclusive of capitalized turnaround and capitalized software costs.

(2)Includes elimination of intercompany assets.

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Schedule of supplemental cash flow information related to income taxes, interest, construction in process and dividends

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


	Year Ended December 31,
(in millions)	2019		2018		2017
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$	69	$	31	$	15
Cash paid for interest	104		103		106
Cash paid for amounts included in the measurement of lease liabilities (1):
Operating cash flows from operating leases	16
Operating cash flows from finance leases	6
Financing cash flows from finance leases	5
Non-cash investing and financing activities:
Change in construction in progress included in accounts payable (2)	(7)		9		(5)

(2)Capital expenditures are shown exclusive of capitalized turnaround expenditures and capitalized software.

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of related party transactions

Activity associated with the Company’s related party arrangements for the years ended December 31, 2019, 2018, and 2017 is summarized below:


Expenses with related parties
	Year Ended December 31,
(in millions)	2019		2018		2017
Cost of materials and other


Joint Venture Transportation Agreement:
Enable JV	$	12	$	8	$	2

Payments (received) made

Dividends (1)	218		179		142
Tax Allocation Agreement:
American Entertainment Properties Corporation	(3)		12		15


Amounts due from related parties
(in millions)	December 31, 2019		December 31, 2018
Tax Allocation Agreement:
American Entertainment Properties Corporation	$	—	$	4

(1)See below for a summary of the dividends paid to IEP for the years ended December 31, 2019, 2018, and 2017.

Schedule of dividends paid

The following presents dividends paid to the Company's stockholders, including IEP, during the years ended December 31, 2019:


				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Share		Stockholders		IEP		Total
2018 - 4th Quarter	March 11, 2019	$	0.75	$	22	$	53	$	75
2019 - 1st Quarter	May 13, 2019	0.75		21		54		75
2019 - 2nd Quarter	August 12, 2019	0.75		21		54		75
2019 - 3rd Quarter	November 11, 2019	0.80		24		57		81
Total		$	3.05	$	88	$	218	$	306

The following table presents distributions paid by CVR Partners to CVR Partners’ unitholders, including amounts received by the Company, as of December 31, 2019.


				Distributions Paid (in millions)
Related Period	Date Paid	Distribution Per Common Unit		Public 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
2019 - 2nd Quarter	August 12, 2019	0.14		11		5		16
2019 - 3rd Quarter	November 11, 2019	0.07		5		3		8
Total		$	0.40	$	30	$	16	$	46

Selected Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Summary of quarterly financial data

Summarized quarterly financial data for December 31, 2019 and 2018 is as follows:


	Year Ended December 31, 2019
	Quarter
(in millions)	First		Second		Third		Fourth
Net sales	$	1,486	$	1,687	$	1,622	$	1,569
Cost of materials and other (1)	1,101		1,267		1,221		1,262
Direct operating expenses (1)	126		132		139		136
Operating income	160		192		159		69
Net income	102		128		104		28
Net income (loss) attributable to noncontrolling interest	1		12		(15)		(16)
Net income attributable to CVR Energy stockholders	$	101	$	116	$	119	$	44

Basic and diluted earnings per share	$	1.00	$	1.16	$	1.18	$	0.44
Dividends declared per share	$	0.75	$	0.75	$	0.75	$	0.80

Weighted-average common shares outstanding - basic and diluted	100.5		100.5		100.5		100.5


	Year Ended December 31, 2018
	Quarter
(in millions)	First		Second		Third		Fourth
Net sales	$	1,536	$	1,915	$	1,935	$	1,738
Cost of materials and other (1)	1,179		1,560		1,556		1,388
Direct operating expenses (1)	130		140		120		127
Operating income	136		108		164		124
Net income	93		70		108		95
Net income attributable to noncontrolling interest	33		24		28		22
Net income attributable to CVR Energy stockholders	$	60	$	46	$	80	$	73

Basic and diluted earnings per share	$	0.69	$	0.53	$	0.85	$	0.73
Dividends declared per share	$	0.50	$	0.50	$	0.75	$	0.75

Weighted-average common shares outstanding - basic and diluted	86.8		86.8		95.8		100.5

(1)Excludes depreciation and amortization expenses.

Organization and Nature of Business - Narrative (Details) - USD ($)			12 Months Ended
	Oct. 23, 2019	Jan. 29, 2019	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Stock Repurchase Program, authorized amount	$ 300,000,000
Duration of Stock Repurchase Program	4 years
Common stock repurchased (in shares)			0
CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of interest held by public			66.00%
Coffeyville Resources LLC (CRLLC) \| CVR GP, LLC
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by general partner			100.00%
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%
Term Loan Facility \| Credit Agreement
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Borrowing capacity		$ 105,000,000
CVR Refining
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Cash purchase price		$ 301,000,000
CVRR Public Unit Purchase
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Cash purchase price (in dollars per share)		$ 10.50
Cash purchase price		$ 241,000,000
CVRR Affiliate Unit Purchase \| AEP and IEP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Cash purchase price		$ 60,000,000
Majority Shareholder
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Ownership percentage held by controlling stockholder			71.00%	71.00%

Summary of Significant Accounting Policies - Principles of Consolidation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Other comprehensive income recognized	$ 0	$ 0	$ 0

Summary of Significant Accounting Policies - Accounts Receivable, net (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Accounts receivable \| Credit concentration
Accounts Receivable, net
Largest concentrations of credit for any one customer	11.00%	12.00%

Summary of Significant Accounting Policies - Schedule of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Raw materials	$ 112	$ 101
In-process inventories	18	12
Finished goods	177	186
Parts and supplies	83	81
Total Inventories	390	380
Nitrogen Fertilizer
Segment Reporting Information [Line Items]
Depreciation of inventories	$ 5	$ 6

Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Millions		12 Months Ended
	May 21, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment			$ 4,067
ROU finance leases		$ 27
Gross property, plant and equipment		4,163
Less: Accumulated depreciation		1,827
Less: Accumulated depreciation			1,637
Total Property, plant and equipment, net		2,336			$ 2,456
Total Property, plant and equipment, net			2,430
Gain on disposal of property, plant and equipment		4	(6)	$ (3)
Assets Sold in Purchase and Sale Agreement
Property, Plant and Equipment [Line Items]
Cash consideration received	$ 43
Gain on disposal of property, plant and equipment	$ 9
Land and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		46	43
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		87	87
Machinery and equipment
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		3,859	3,785
Leases classified as finance/capital leases
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		29	32
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		35	33
Construction in progress
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		95	102
Other
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		$ 14	$ 17
Minimum
Property, Plant and Equipment [Line Items]
ROU finance leases, Useful life		1 year
Minimum \| Land and improvements
Property, Plant and Equipment [Line Items]
Useful life		15 years
Minimum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Useful life		20 years
Minimum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life		5 years
Minimum \| Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life		3 years
Minimum \| Other
Property, Plant and Equipment [Line Items]
Useful life		5 years
Maximum
Property, Plant and Equipment [Line Items]
ROU finance leases, Useful life		25 years
Maximum \| Land and improvements
Property, Plant and Equipment [Line Items]
Useful life		30 years
Maximum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Useful life		30 years
Maximum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life		30 years
Maximum \| Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life		10 years
Maximum \| Other
Property, Plant and Equipment [Line Items]
Useful life		30 years

Summary of Significant Accounting Policies - Impairment of Long-Lived Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Goodwill impairment	$ 0	$ 0	$ 0
Coffeyville reporting unit, percentage of fair value in excess of carrying value		36.00%	12.00%

Summary of Significant Accounting Policies - Turnaround Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Petroleum Segment
Planned Major Maintenance Activities [Line Items]
Amortization period	4 years
Turnaround costs capitalized	$ 38	$ 8	$ 87
Petroleum Segment \| Minimum
Planned Major Maintenance Activities [Line Items]
Frequency of planned major maintenance activities	4 years
Petroleum Segment \| Maximum
Planned Major Maintenance Activities [Line Items]
Frequency of planned major maintenance activities	5 years
Nitrogen Fertilizer Segment
Planned Major Maintenance Activities [Line Items]
Turnaround expenses incurred	$ 10	$ 6	$ 3
Nitrogen Fertilizer Segment \| Minimum
Planned Major Maintenance Activities [Line Items]
Frequency of planned major maintenance activities	2 years
Nitrogen Fertilizer Segment \| Maximum
Planned Major Maintenance Activities [Line Items]
Frequency of planned major maintenance activities	3 years

Summary of Significant Accounting Policies - Schedule of Effects of Accounting Changes on Consolidated Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, net of accumulated depreciation			$ 2,430
Other long-term assets	$ 278	$ 333	277
Total assets	3,905	4,079	4,000
Long-term liabilities:
Deferred income taxes	396		380
Total long-term liabilities	1,641	1,624	1,561
CVR stockholders’ equity:
Additional paid-in-capital	1,507		1,474
Retained deficit	(113)		(187)
Total CVR stockholders’ equity	1,393		1,286
Noncontrolling interest	275		657
Total equity	1,668		1,943	$ 1,823	$ 1,788
Total liabilities and equity	$ 3,905	$ 4,079	4,000
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, net of accumulated depreciation			2,445
Other long-term assets			169
Total assets			3,907
Long-term liabilities:
Deferred income taxes			362
Total long-term liabilities			1,543
CVR stockholders’ equity:
Additional paid-in-capital			1,473
Retained deficit			(226)
Total CVR stockholders’ equity			1,246
Noncontrolling interest			622
Total equity			1,868
Total liabilities and equity			3,907
Effect of Turnaround Accounting Change \| Effect of Turnaround Accounting Change
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Property, plant and equipment, net of accumulated depreciation			(15)
Other long-term assets			108
Total assets			93
Long-term liabilities:
Deferred income taxes			18
Total long-term liabilities			18
CVR stockholders’ equity:
Additional paid-in-capital			1
Retained deficit			39
Total CVR stockholders’ equity			40
Noncontrolling interest			35
Total equity			75
Total liabilities and equity			$ 93

Summary of Significant Accounting Policies - Schedule of Effects of Accounting Changes on Statement of Operations and Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Direct operating expenses	$ 136	$ 139	$ 132	$ 126	$ 127	$ 120	$ 140	$ 130	$ 533	$ 517	$ 516
Depreciation and amortization									278	263	247
Income tax expense (benefit)									129	79	(220)
Net income (loss)	28	104	128	102	95	108	70	93	362	366	258
Less: Net income attributable to noncontrolling interest	(16)	(15)	12	1	22	28	24	33	(18)	107	(5)
Net income (loss) attributable to CVR Energy stockholders	$ 44	$ 119	$ 116	$ 101	$ 73	$ 80	$ 46	$ 60	380	259	263
Statement of Cash Flows [Abstract]
Net cash provided by operating activities									747	628	248
Net cash used by investing activities									$ (121)	(108)	(276)
As Previously Reported
Income Statement [Abstract]
Direct operating expenses										523	598
Depreciation and amortization										202	203
Income tax expense (benefit)										89	(217)
Net income (loss)										411	217
Less: Net income attributable to noncontrolling interest										122	(18)
Net income (loss) attributable to CVR Energy stockholders										289	235
Statement of Cash Flows [Abstract]
Net cash provided by operating activities										620	168
Net cash used by investing activities										(100)	(196)
Effect of Turnaround Accounting Change \| Effect of Turnaround Accounting Change
Income Statement [Abstract]
Direct operating expenses										(6)	(82)
Depreciation and amortization										61	44
Income tax expense (benefit)										(10)	(3)
Net income (loss)										(45)	41
Less: Net income attributable to noncontrolling interest										(15)	13
Net income (loss) attributable to CVR Energy stockholders										(30)	28
Statement of Cash Flows [Abstract]
Net cash provided by operating activities										8	80
Net cash used by investing activities										$ (8)	$ (80)

Summary of Significant Accounting Policies - Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Dilutive awards outstanding (in shares)	0	0	0

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liabilities	$ 48
Finance lease obligation	65
Current assets:
Prepaid expenses and other current assets	67	$ 73	$ 76
Total currents assets	1,291	1,290	1,293
Property, plant and equipment, net			2,430
Property, plant and equipment, net	2,336	2,456
Other long-term assets	278	333	277
Total assets	3,905	4,079	4,000
Current liabilities:
Other current liabilities		192	176
Total current liabilities	596	512	496
Long-term debt and finance lease obligations, net of current portion	1,190	1,190	1,167
Other long-term liabilities	55	54	14
Total long-term liabilities	1,641	1,624	1,561
Equity:
Total liabilities and equity	$ 3,905	4,079	$ 4,000
Effect of Adoption of Topic 842
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU assets		56
Lease liabilities		56
Finance lease asset		26
Finance lease obligation		23
Current assets:
Prepaid expenses and other current assets		(3)
Total currents assets		(3)
Property, plant and equipment, net		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, net of current portion		23
Other long-term liabilities		40
Total long-term liabilities		63
Equity:
Total liabilities and equity		$ 79

Equity Method Investments (Details) - CVR Refining bbl / d in Thousands	12 Months Ended
	Dec. 31, 2019 bbl / d mi
Enable JV
Related Party Transaction [Line Items]
Pipeline capacity, barrels per day \| bbl / d	115
Pipeline length (in miles) \| mi	26
Midway JV
Related Party Transaction [Line Items]
Pipeline capacity, barrels per day \| bbl / d	120
Pipeline length (in miles) \| mi	100
Enable JV \| Enable JV
Related Party Transaction [Line Items]
Joint venture interest	40.00%
Midway JV \| Midway JV
Related Party Transaction [Line Items]
Joint venture interest	50.00%

Equity Method Investments - Schedule of Equity Method Investments (Details) - CVR Refining - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investments [Roll Forward]
Balance at beginning of period	$ 84	$ 83
Cash Distributions	(13)	(7)
Equity income	10	8
Balance at end of period	81	84
Enable JV
Equity Method Investments [Roll Forward]
Balance at beginning of period	6	6
Cash Distributions	(4)	(2)
Equity income	4	2
Balance at end of period	6	6
Midway JV
Equity Method Investments [Roll Forward]
Balance at beginning of period	78	77
Cash Distributions	(9)	(5)
Equity income	6	6
Balance at end of period	$ 75	$ 78

Leases - Additional Information (Details)	12 Months Ended
Leases - Additional Information (Details)	Dec. 31, 2019
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	20 years

Leases - ROU Assets (Details) - USD ($) $ in Millions	Dec. 31, 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 leased assets	$ 29	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 leased assets	$ 24	$ 25

Leases - Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019
Current liabilities:
Operating leases	$ 14	$ 14
Finance leases		2
Long-term liabilities:
Operating leases		40
Finance leases		23
Total lease liabilities		$ 79

Leases - Balance Sheet Summary (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019
Operating Leases:
Lease liability	$ 48
Finance Leases:
Lease liability	65
Pipeline and storage
Operating Leases:
ROU assets, net	20
Lease liability	22
Finance Leases:
ROU assets, net	29	$ 1
Lease liability	40
Railcars
Operating Leases:
ROU assets, net	12
Lease liability	12
Real estate and other
Operating Leases:
ROU assets, net	16
Lease liability	14
Finance Leases:
ROU assets, net	24	$ 25
Lease liability	$ 25

Leases - Lease Expense (Details) $ in Millions	12 Months Ended
Leases - Lease Expense (Details) $ in Millions	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating lease expense	$ 12
Finance lease expense:
Amortization of ROU	7
Interest expense on lease liability	6
Short-term lease expense	$ 8

Leases - Lease Terms and Discount Rates (Details)	Dec. 31, 2019	Jan. 01, 2019
Weighted-average remaining lease term (years)
Operating Leases	3 years 8 months 12 days	4 years 4 months 24 days
Finance Leases	9 years	10 years 3 months 18 days
Weighted-average discount rate
Operating Leases	5.60%	5.80%
Finance Leases	8.90%	9.80%

Leases - Remaining Minimum Lease Payments (Details) $ in Millions	Dec. 31, 2019 USD ($)
Operating Leases
2020	$ 16
2021	14
2022	11
2023	7
2024	4
Thereafter	0
Total lease payments	52
Less: imputed interest	(4)
Total lease liability	48
Financing Leases
2020	11
2021	11
2022	11
2023	10
2024	10
Thereafter	43
Total lease payments	96
Less: imputed interest	(31)
Lease liability	$ 65

Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Personnel accruals	$ 47		$ 40
Accrued taxes other than income taxes	28		28
Deferred revenue	28		69
Accrued income taxes	24		0
Operating lease liabilities	14	$ 14
Accrued interest	9		9
Accrued derivatives	7		0
Accrued Renewable Fuel Standards (“RFS”) obligation	7		4
Share-based compensation	6		5
Other accrued expenses and liabilities	9		18
Total other current liabilities	$ 179		$ 173

Long-Term Debt and Finance Lease Obligations - Schedule of Debt (Details) - USD ($) $ in Millions	Jan. 27, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jun. 10, 2016	Oct. 23, 2012
Debt Instrument [Line Items]
Finance lease obligations, net of current portion			$ 23
Total long-term debt and finance lease obligations		$ 1,190	1,190	$ 1,167
Current portion of finance lease obligations			$ 2
CVR Partners
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs		(15)		(18)
Total CVR Partners debt		$ 632		629
CVR Partners \| Senior Notes \| 9.25% Senior Secured Notes due June 2023
Debt Instrument [Line Items]
Stated interest rate		9.25%			9.25%
Total long-term debt, before finance lease obligations, debt issuance costs and discount		$ 645		645
Unamortized debt discount		16
Debt issuance costs		$ 9
CVR Partners \| Senior Notes \| 6.50% Senior Notes due April 2021
Debt Instrument [Line Items]
Stated interest rate		6.50%
Total long-term debt, before finance lease obligations, debt issuance costs and discount		$ 2		2
CVR Refining
Debt Instrument [Line Items]
Finance lease obligations, net of current portion		61
Finance lease obligations, net of current portion				41
Unamortized discount and debt issuance costs		(3)		(3)
Total long-term debt and finance lease obligations		558		538
Current portion of finance lease obligations		$ 5
Current portion of finance lease obligations				3
CVR Refining \| Senior Notes \| 6.50% Senior Notes due November 2022
Debt Instrument [Line Items]
Stated interest rate		6.50%				6.50%
Total long-term debt, before finance lease obligations, debt issuance costs and discount		$ 500		$ 500
Debt issuance costs		$ 9
CVR Refining \| Senior Notes \| 6.50% Senior Notes due November 2022 \| Subsequent Event
Debt Instrument [Line Items]
Redemption price percentage	101.083%

Long-Term Debt and Finance Lease Obligations - Credit Facilities Outstanding (Details) - Line of Credit - Revolving Credit Facility	12 Months Ended
	Dec. 31, 2019 USD ($)
Asset Based (AB) Credit Facility \| CVR Partners
Line of Credit Facility [Line Items]
Total Capacity	$ 50,000,000
Amount Borrowed	0
Outstanding Letters of Credit	0
Available Capacity	$ 50,000,000
Asset Based (AB) Credit Facility \| LIBOR \| CVR Partners
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Asset Based (AB) Credit Facility \| Base Rate \| CVR Partners
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Step-down rate	0.50%
Amended and Restated Asset Based (Amended and Restated ABL) Credit Facility \| CVR Refining
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
Amended and Restated Asset Based (Amended and Restated ABL) Credit Facility \| LIBOR \| CVR Refining
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Amended and Restated Asset Based (Amended and Restated ABL) Credit Facility \| Base Rate \| CVR Refining
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%

Long-Term Debt and Finance Lease Obligations - AB Credit Facility (Details) - Line of Credit - Asset Based (AB) Credit Facility - Revolving Credit Facility - CVR Partners	Sep. 30, 2016 USD ($)
Line of Credit Facility [Line Items]
Debt instrument face amount	$ 50,000,000
Available increase in borrowing limit	$ 25,000,000

Long-Term Debt and Finance Lease Obligations - 2023 Notes (Details) - 2023 Notes - Senior Notes - CVR Partners - USD ($)	Dec. 31, 2019	Jun. 10, 2016
Debt Instrument [Line Items]
Aggregate principal amount of private offering		$ 645,000,000
Stated interest rate	9.25%	9.25%
Minimum percentage of notes held in order to cause acceleration of notes upon occurrence of events of default		25.00%

Long-Term Debt and Finance Lease Obligations - 2023 Notes, Redemption Price (Details) - 2023 Notes - Senior Notes - CVR Partners	12 Months Ended
	Dec. 31, 2019
12-Month Period Beginning June 15, 2019
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	104.625%
12-Month Period Beginning June 15, 2020
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	102.313%
12-Month Period Beginning June 15, 2021 and thereafter
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	100.00%

Long-Term Debt and Finance Lease Obligations - Amended and Restated ABL Credit Facility (Details) - Amended and Restated ABL Credit Facility - Credit Parties	Nov. 14, 2017 USD ($)
Debt Instrument [Line Items]
Borrowing capacity	$ 400,000,000
Uncommitted incremental facility	200,000,000
Letter of Credit
Debt Instrument [Line Items]
Borrowing capacity	60,000,000
Swingline Loans
Debt Instrument [Line Items]
Borrowing capacity	$ 40,000,000

Long-Term Debt and Finance Lease Obligations - 2022 Notes (Details) - 2022 Notes - Senior Notes - CVR Refining - USD ($)		3 Months Ended
	Jan. 27, 2020	Mar. 31, 2020	Dec. 31, 2019	Oct. 23, 2012
Debt Instrument [Line Items]
Aggregate principal amount of private offering				$ 500,000,000
Stated interest rate			6.50%	6.50%
Subsequent Event
Debt Instrument [Line Items]
Accrued interest settled upon redemption	$ 8,000,000
Payment for redemption of debt	$ 505,000,000
Redemption of notes, percentage of par value at which notes were repurchased	101.083%
Previously deferred financing charges	$ 3,000,000
Subsequent Event \| Forecast
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 8,000,000
Total premiums paid		5,000,000
Write-off of previously deferred financing charges		$ 3,000,000

Long-Term Debt and Finance Lease Obligations - 2025 Notes and 2028 Notes (Details) - Senior Notes - Subsequent Event	Jan. 27, 2020 USD ($)
2025 and 2028 Notes
Debt Instrument [Line Items]
Net cash proceeds received	$ 993,000,000
Debt issuance costs	7,000,000
2025 Notes
Debt Instrument [Line Items]
Debt instrument face amount	$ 600,000,000
Stated interest rate	5.25%
Minimum percentage of notes held in order to cause acceleration of notes upon occurrence of events of default	25.00%
2028 Notes
Debt Instrument [Line Items]
Debt instrument face amount	$ 400,000,000
Stated interest rate	5.75%
Minimum percentage of notes held in order to cause acceleration of notes upon occurrence of events of default	25.00%

Long-Term Debt and Finance Lease Obligations - 2025 Notes and 2028 Notes, Redemption Price (Details) - Senior Notes	12 Months Ended
	Dec. 31, 2019
2025 Notes \| 12-Month Period Beginning February 15, 2022/2023
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	102.625%
2025 Notes \| 12-Month Period Beginning February 15, 2023/2024
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	101.313%
2025 Notes \| 12-Month Period Beginning February 15, 2024 and thereafter/2025
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	100.00%
2028 Notes \| 12-Month Period Beginning February 15, 2022/2023
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	102.875%
2028 Notes \| 12-Month Period Beginning February 15, 2023/2024
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	101.917%
2028 Notes \| 12-Month Period Beginning February 15, 2024 and thereafter/2025
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	100.958%
2028 Notes \| 12-Month Period Beginning February 15, 2026 and thereafter
Debt Instrument, Redemption [Line Items]
Redemption prices as percentage of principal amount	100.00%

Long-Term Debt and Finance Lease Obligations - Credit Agreement (Details)	Jan. 29, 2019 USD ($)
Credit Agreement \| Term Loan Facility
Debt Instrument [Line Items]
Borrowing capacity	$ 105,000,000

Revenue - Revenue Disaggregated by Major Product (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,569	$ 1,622	$ 1,687	$ 1,486	$ 1,738	$ 1,935	$ 1,915	$ 1,536	$ 6,364	$ 7,124	$ 5,988
Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									6,303	7,023
Gasoline
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									3,050	3,383
Distillates
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									2,705	3,083
Ammonia
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									94	66
UAN
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									251	222
Other urea products
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									18	21
Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									56	57
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									129	191
Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									58	96
Other revenue
Disaggregation of Revenue [Line Items]
Other revenue									3
Other revenue										5
Operating Segments \| Petroleum
Disaggregation of Revenue [Line Items]
Total revenue									5,968	6,780	5,664
Operating Segments \| Petroleum \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									5,907	6,679
Operating Segments \| Petroleum \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									3,050	3,383
Operating Segments \| Petroleum \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									2,705	3,083
Operating Segments \| Petroleum \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Operating Segments \| Petroleum \| UAN
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Operating Segments \| Petroleum \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Operating Segments \| Petroleum \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									23	23
Operating Segments \| Petroleum \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									129	190
Operating Segments \| Petroleum \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									58	96
Operating Segments \| Petroleum \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue									3
Other revenue										5
Operating Segments \| Nitrogen Fertilizer
Disaggregation of Revenue [Line Items]
Total revenue									404	351	$ 331
Operating Segments \| Nitrogen Fertilizer \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									404	351
Operating Segments \| Nitrogen Fertilizer \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Operating Segments \| Nitrogen Fertilizer \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Operating Segments \| Nitrogen Fertilizer \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									94	66
Operating Segments \| Nitrogen Fertilizer \| UAN
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									251	222
Operating Segments \| Nitrogen Fertilizer \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									18	21
Operating Segments \| Nitrogen Fertilizer \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									33	34
Operating Segments \| Nitrogen Fertilizer \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									8	8
Operating Segments \| Nitrogen Fertilizer \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Operating Segments \| Nitrogen Fertilizer \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue									0
Other revenue										0
Other / Eliminations
Disaggregation of Revenue [Line Items]
Total revenue									(8)	(7)
Other / Eliminations \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									(8)	(7)
Other / Eliminations \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Other / Eliminations \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Other / Eliminations \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Other / Eliminations \| UAN
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Other / Eliminations \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Other / Eliminations \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Other / Eliminations \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									(8)	(7)
Other / Eliminations \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									0	0
Other / Eliminations \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue									$ 0
Other revenue										$ 0

Revenue - Additional information (Details) $ in Millions	12 Months Ended
Revenue - Additional information (Details) $ in Millions	Dec. 31, 2019 USD ($)
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
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Prepaid contracts, payment not yet collected	$ 19
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

Revenue - Remaining Performance Obligation (Details) - Nitrogen Fertilizer Segment $ in Millions	Dec. 31, 2019 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 9
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	$ 4
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 3
Remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2
Remaining performance obligation, expected timing of satisfaction, period

Revenue - Deferred Revenue (Details) $ in Millions	12 Months Ended
Revenue - Deferred Revenue (Details) $ in Millions	Dec. 31, 2019 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at December 31, 2018	$ 69
Less:
Balance at December 31, 2019	28
Nitrogen Fertilizer Segment
Change in Contract with Customer, Liability [Roll Forward]
Balance at December 31, 2018	69
Add:
New prepay contracts entered into during the period	46
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	18
Other changes	1
Balance at December 31, 2019	28
Prepaid contracts, payment collected	$ 27

Revenue - Major Customers (Details) - Net Sales - Customer concentration - Two Customers	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Petroleum
Major Customers and Suppliers
Concentration risk	25.00%	25.00%	27.00%
Nitrogen Fertilizer
Major Customers and Suppliers
Concentration risk	28.00%	20.00%	16.00%

Derivative Financial Instruments - Additional Information (Details) - derivative	Dec. 31, 2019	Dec. 31, 2018
Commodity Swap
Derivative [Line Items]
Outstanding positions	0	0
Forward Contracts \| Purchase Commitments
Derivative [Line Items]
Outstanding positions	3,000,000	1,000,000
Forward Contracts \| Sale Commitments
Derivative [Line Items]
Outstanding positions	1,000,000	1,000,000
Forward Contracts, RINs
Derivative [Line Items]
Outstanding positions	20,000,000

Derivative Financial Instruments - Schedule of Gains (Losses) on Derivatives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives, net	$ 19	$ 146	$ (70)
Forward purchases and sales, net
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives, net	20	103	(26)
Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives, net	0	44	(43)
Futures
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives, net	$ (1)	$ (1)	$ (1)

Derivative Financial Instruments - Open Commodity Derivative Instruments (Details) - bbl bbl in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Canadian crude oil
Derivative [Line Items]
Number of barrels	5	2

Derivative Financial Instruments - Schedule of Offsetting Assets and Liabilities (Details) - Commodity Derivatives - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current Assets
Derivative Assets
Commodity Derivatives	$ 3	$ 8
Less: Counterparty Netting	(3)	(1)
Total Net Fair Value of Derivatives	0	7
Current Liabilities
Derivative Liabilities
Commodity Derivatives	(11)	1
Less: Counterparty Netting	3	(1)
Total Net Fair Value of Derivatives	$ (8)	$ 0

Derivative Financial Instruments - Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		$ 50
Other current assets (derivative agreements)		7
Total Assets		57
Long-term debt	$ (1,180)	(1,163)
Total Liabilities	(1,195)	(1,165)
Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities	(8)
RFS obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities	(7)	(2)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		50
Other current assets (derivative agreements)		0
Total Assets		50
Long-term debt	0	0
Total Liabilities	0	0
Level 1 \| Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities	0
Level 1 \| RFS obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Other current assets (derivative agreements)		7
Total Assets		7
Long-term debt	(1,180)	(1,163)
Total Liabilities	(1,195)	(1,165)
Level 2 \| Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities	(8)
Level 2 \| RFS obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities	(7)	(2)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		0
Other current assets (derivative agreements)		0
Total Assets		0
Long-term debt	0	0
Total Liabilities	0	0
Level 3 \| Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities	0
Level 3 \| RFS obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities	$ 0	$ 0

Share-Based Compensation (Details)		1 Months Ended	12 Months Ended
Share-Based Compensation (Details)	Nov. 01, 2017 USD ($) agreement trading_day $ / shares	Feb. 28, 2019 USD ($)	Dec. 31, 2019 USD ($) plan shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares or units available for future grants (in shares) \| shares			6,800,000
Total tax benefit recognized during the year related to compensation expense			$ 4,000,000	$ 4,000,000	$ 7,000,000
Cash paid to settle liability-classified awards upon vesting			$ 23,000,000	17,000,000	16,000,000
Number of defined-contribution 401(k) plans \| plan			2
Matching contribution, percent			100.00%
Percent of eligible compensation contributed by participants			6.00%
Vesting period			3 years
Matching contributions made by the company			$ 9,000,000	$ 9,000,000	$ 9,000,000
Share-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares right to receive cash payment on vesting equal to fair market value is received per award (in shares) \| shares			1
Vesting period			3 years
Share-Based Awards \| Vesting Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			33.33%
Share-Based Awards \| Vesting Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			33.33%
Share-Based Awards \| Vesting Year Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			33.33%
Performance awards \| 2018 CEO Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance award agreements entered into \| agreement	2
Target value of awards granted			$ 1,500,000
Amount of payout		$ 1,900,000
Maximum cash payment	$ 10,000,000
Period for determination of cash payment value \| trading_day	30
Maximum price per share to trigger maximum cash payment (in dollars per share) \| $ / shares	$ 60

Share-Based Compensation - Summary of Phantom and Incentive Unit Awards Activity (Details) - Phantom and Incentive Unit Awards - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Shares or Units
Non-vested at the beginning of the period (in shares)	2,432,073
Granted (in shares)	1,317,661
Vested (in shares)	(1,142,021)
Forfeited (in shares)	(154,026)
Non-vested at the end of the period (in shares)	2,453,687
Weighted-Average Grant-Date Fair Value (per share or unit)
Non-vested at the beginning of the period (in dollars per share)	$ 12.13
Granted (in dollars per share)	16.21
Vested (in dollars per share)	10.98
Forfeited (in dollars per share)	11.94
Non-vested at the end of the period (in dollars per share)	$ 14.88
Aggregate Intrinsic Value	$ 33	$ 24

Share-Based Compensation - Schedule of Share-based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	$ 17	$ 16	$ 19
Unrecognized Expense	34
Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	12	4	7
Unrecognized Expense	$ 22
Weighted-Average Remaining Years	2 years 4 months 24 days
Phantom Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	$ 5	8	8
Unrecognized Expense	$ 5
Weighted-Average Remaining Years	2 years 3 months 18 days
Performance awards \| CEO Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	$ 0	2	0
Unrecognized Expense	$ 7
Weighted-Average Remaining Years	2 years
Performance awards \| 2018 CEO Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	$ 0	2	0
Unrecognized Expense	$ 0
Weighted-Average Remaining Years	0 years
Performance awards \| Former CEO Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	$ 0	$ 0	$ 4
Unrecognized Expense	$ 0
Weighted-Average Remaining Years	0 years

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Minimum ownership interest in CVR Energy for eligibility to file as member of AEPC consolidated federal income tax group	80.00%
Payable due to the IRS and certain state jurisdictions	$ 20,000,000
Receivable from the IRS and state jurisdictions		$ 12,000,000
Valuation allowance	0	0
Unrecognized tax benefits which, if recognized, would impact the company's effective tax rate	15,000,000	18,000,000	$ 23,000,000
Reductions related to expirations of statute of limitations	3,000,000	6,000,000	15,000,000
Unrecognized tax benefits reasonably possible to be recognized in next fiscal year	3,000,000
Unrecognized tax benefits netted with deferred tax asset carryforwards	10,000,000	22,000,000
Interest on income recognized on uncertain tax positions	0	1,000,000	7,000,000
Liability for interest	0	0	1,000,000
Penalties recognized on uncertain tax positions	0	0	0
State
Income Taxes [Line Items]
Tax credit carry-forwards	16,000,000
Reductions related to expirations of statute of limitations	5,000,000	6,000,000	$ 15,000,000
American Entertainment Properties Corporation
Income Taxes [Line Items]
Payable for income taxes due to AEP	$ 0
Receivable for income taxes due from AEP		$ 4,000,000
American Entertainment Properties Corporation \| Majority Shareholder
Income Taxes [Line Items]
Minimum ownership interest in CVR Energy for eligibility to file as member of AEPC consolidated federal income tax group	80.00%

Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Federal	$ 96	$ 31	$ (1)
State	5	(7)	(22)
Total current	101	24	(23)
Deferred:
Federal	3	39	(186)
State	25	16	(11)
Total deferred	28	55	(197)
income tax expense (benefit)	$ 129	$ 79	$ (220)

Income Taxes - Reconciliation of Total Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax computed at federal statutory rate	$ 103	$ 94	$ 14
State income taxes, net of federal tax benefit	29	12	(14)
State tax incentives, net of federal tax expense	(4)	(4)	(7)
Noncontrolling interest	4	(23)	1
Other, net	(3)	0	0
Adjustment to deferred tax assets and liabilities for enacted change in federal tax rate	0	0	(214)
income tax expense (benefit)	$ 129	$ 79	$ (220)

Income Taxes - Income Tax Effect of Temporary Differences (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets:
State tax credit carryforward, net	$ 7	$ 11
Total gross deferred income tax assets	7	11
Deferred income tax liabilities:
Other	(1)	(5)
Total gross deferred income tax liabilities	(403)	(391)
Net deferred income tax liabilities	(396)	(380)
CVR Partners
Deferred income tax liabilities:
Investment in CVR Partners and CVR Refining	(61)	(59)
CVR Refining
Deferred income tax liabilities:
Investment in CVR Partners and CVR Refining	$ (341)	$ (327)

Income Taxes - Reconciliation of the Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of the unrecognized tax benefits
Balance, beginning of year	$ 23	$ 29	$ 44
Increase in current year tax positions (interest expense)	2	0	0
Reductions related to expirations from statute of limitations	(3)	(6)	(15)
Balance, end of year	$ 22	$ 23	$ 29

Commitments and Contingencies - Unconditional Purchase Obligations (Details) $ in Millions	Dec. 31, 2019 USD ($)
Unconditional Purchase Obligations
2020	$ 95
2021	80
2022	77
2023	75
2024	71
Thereafter	375
Unconditional Purchase Obligations	$ 773

Commitments and Contingencies - Supply Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Amounts purchased under supply agreements	$ 167	$ 214	$ 209

Commitments and Contingencies - Crude Oil Supply Agreement (Details) - Crude Oil Supply Agreement		12 Months Ended
	Aug. 31, 2012	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Unrecorded Unconditional Purchase Obligation [Line Items]
Renewal term of agreement	1 year
Number of days for prior notice of nonrenewal	180 days
Petroleum Segment \| Contracted Volume \| Supplier Concentration Risk
Unrecorded Unconditional Purchase Obligation [Line Items]
Volume contracted throughout Vitol as percentage of total crude oil purchases		36.00%	42.00%	55.00%

Commitments and Contingencies - Contingencies (Details) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2019 USD ($)	Dec. 31, 2019 lawsuit claimant
CRNF
Loss Contingencies [Line Items]
Litigation settlement agreement, recovery amount \| $	$ 8
WRC \| Small Refinery Exemption
Loss Contingencies [Line Items]
Number of ethanol and biofuels trade associations that filed lawsuit against the EPA		4
Number of refineries whose SREs are in question		3
Call Option Lawsuits \| CVR Energy, CVR Refining, CVR Refining Holdings and its General Partner, and IEP and Certain Directors and Affiliates
Loss Contingencies [Line Items]
Number of lawsuits filed \| lawsuit		9

Commitments and Contingencies - Renewable Fuel Standards and Environmental Remediation (Details) - EHS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loss Contingencies [Line Items]
Environmental accruals	$ 6	$ 8
CVR Refining
Loss Contingencies [Line Items]
RFS obligation	7	4
Petroleum Segment
Loss Contingencies [Line Items]
Expense for compliance with RFS	$ 43	$ 60	$ 249

Commitments and Contingencies - Wynnewood Refinery Incident (Details )	Sep. 28, 2012 employee
Wynnewood Refinery Incident
Loss Contingencies [Line Items]
Number of employees fatally injured	2

Business Segments - Additional Information (Details)	12 Months Ended
Business Segments - Additional Information (Details)	Dec. 31, 2019 segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Business Segments - Summary of Operating Results and Capital Expenditures by Segment (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Segment Reporting Information [Line Items]
Net sales	$ 1,569	$ 1,622	$ 1,687	$ 1,486	$ 1,738	$ 1,935	$ 1,915	$ 1,536	$ 6,364	$ 7,124	$ 5,988
Operating income (loss)	69	$ 159	$ 192	$ 160	124	$ 164	$ 108	$ 136	580	532	145
Interest expense, net									(102)	(102)	(109)
Other income, net									13	15	2
Income before income taxes									491	445	38
Depreciation and amortization									287	274	258
Capital expenditures									114	111	115
Total assets	3,905				4,000				3,905	4,000		$ 4,079
Operating Segments \| Petroleum
Segment Reporting Information [Line Items]
Net sales									5,968	6,780	5,664
Operating income (loss)									574	544	172
Depreciation and amortization									202	196	177
Capital expenditures									89	89	103
Total assets	3,187				2,453				3,187	2,453
Operating Segments \| Nitrogen Fertilizer
Segment Reporting Information [Line Items]
Net sales									404	351	331
Operating income (loss)									27	6	(10)
Depreciation and amortization									80	72	74
Capital expenditures									20	19	12
Total assets	1,138				1,254				1,138	1,254
Other
Segment Reporting Information [Line Items]
Net sales									(8)	(7)	(7)
Operating income (loss)									(21)	(18)	(17)
Depreciation and amortization									5	6	7
Capital expenditures									5	3	$ 0
Total assets	$ (420)				$ 293				$ (420)	$ 293

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$ 69	$ 31	$ 15
Cash paid for interest	104	103	106
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	16
Operating cash flows from finance leases	6
Financing cash flows from finance leases	5
Non-cash investing and financing activities:
Change in construction in progress included in accounts payable	$ (7)	$ 9	$ (5)

Related Party Transactions - Expenses Incurred and Payments Made to Related Parties (Details) - USD ($) $ in Millions					3 Months Ended								12 Months Ended
	Nov. 11, 2019	Aug. 12, 2019	May 13, 2019	Mar. 11, 2019	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Cost of materials and other					$ 1,262	$ 1,221	$ 1,267	$ 1,101	$ 1,388	$ 1,556	$ 1,560	$ 1,179	$ 4,851	$ 5,683	$ 4,953
Dividends	$ 81	$ 75	$ 75	$ 75									306	238	174
Enable JV \| Joint Venture Transportation Agreement
Related Party Transaction [Line Items]
Cost of materials and other													12	8	2
IEP
Related Party Transaction [Line Items]
Dividends	$ 57	$ 54	$ 54	$ 53									218	179	142
American Entertainment Properties Corporation \| Tax Allocation Agreement
Related Party Transaction [Line Items]
Payments (received) made													$ (3)	$ 12	$ 15

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

Related Party Transactions - Narrative (Details) $ / shares in Units, $ in Millions								3 Months Ended								12 Months Ended
	Mar. 09, 2020 USD ($)	Feb. 19, 2020 USD ($) $ / shares	Nov. 11, 2019 USD ($) $ / shares	Aug. 12, 2019 USD ($) $ / shares	May 13, 2019 USD ($) $ / shares	Mar. 11, 2019 USD ($) $ / shares	Jul. 31, 2018	Dec. 31, 2019 sponsor $ / shares	Sep. 30, 2019 $ / shares	Jun. 30, 2019 $ / shares	Mar. 31, 2019 $ / shares	Dec. 31, 2018 $ / shares	Sep. 30, 2018 $ / shares	Jun. 30, 2018 USD ($) $ / shares	Mar. 31, 2018 $ / shares	Dec. 31, 2019 USD ($) sponsor $ / shares	Dec. 31, 2018 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares
Related Party Transaction [Line Items]
Dividends declared per share (in dollars per share) \| $ / shares								$ 0.80	$ 0.75	$ 0.75	$ 0.75	$ 0.75	$ 0.75	$ 0.50	$ 0.50	$ 3.05	$ 2.50	$ 2.00
Dividends declared																$ 306.0	$ 238.0	$ 174.0
Dividends paid			$ 81.0	$ 75.0	$ 75.0	$ 75.0										$ 306.0	$ 238.0	$ 174.0
Dividends paid (in dollars per share) \| $ / shares			$ 0.80	$ 0.75	$ 0.75	$ 0.75										$ 3.05	$ 2.50	$ 2.00
Minimum ownership interest in CVR Energy for eligibility to file as member of AEPC consolidated federal income tax group								80.00%								80.00%
Number of sponsors of pension plans \| sponsor								2								2
Affiliate Pension Obligations
Related Party Transaction [Line Items]
Aggregate underfunded pension obligation if pension plans voluntarily terminated by affiliate														$ 435.0				$ 424.0
Subsequent Event
Related Party Transaction [Line Items]
Dividends declared per share (in dollars per share) \| $ / shares		$ 0.80
Dividends declared		$ 80.0
IEP
Related Party Transaction [Line Items]
Dividends paid			$ 57.0	$ 54.0	$ 54.0	$ 53.0										$ 218.0	$ 179.0	$ 142.0
Ownership percentage held by controlling stockholder																71.00%	71.00%
IEP \| Subsequent Event \| Forecast
Related Party Transaction [Line Items]
Dividends paid	$ 57.0
CVR Partners
Related Party Transaction [Line Items]
Distributions paid (in dollars per share) \| $ / shares			$ 0.07	$ 0.14	$ 0.07	$ 0.12										$ 0.40		$ 0.02
Distributions paid			$ 8.0	$ 16.0	$ 8.0	$ 14.0										$ 46.0		$ 2.0
CVR Partners \| CVR Energy
Related Party Transaction [Line Items]
Distributions paid			$ 3.0	$ 5.0	$ 3.0	$ 5.0										$ 16.0		1.0
CVR Partners \| Subsequent Event \| CVR Energy
Related Party Transaction [Line Items]
Property exchange, net impact to partners' capital		$ 0.1
IEP Energy LLC \| IEP
Related Party Transaction [Line Items]
Ownership percentage held by controlling stockholder							82.00%
Joint Venture Agreement \| CVR Refining \| Enable JV
Related Party Transaction [Line Items]
Initial term of agreement																20 years
Joint Venture Agreement \| CRRM \| Midway JV
Related Party Transaction [Line Items]
Costs incurred																	$ 18.0	$ 3.0
Crude Oil Transportation Services \| CRRM \| Midway JV
Related Party Transaction [Line Items]
Costs incurred																$ 21.0

Related Party Transactions - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended	12 Months Ended
	Nov. 11, 2019	Aug. 12, 2019	May 13, 2019	Mar. 11, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Dividends Per Share (in dollars per share)	$ 0.80	$ 0.75	$ 0.75	$ 0.75		$ 3.05	$ 2.50	$ 2.00
Dividends Paid	$ 81	$ 75	$ 75	$ 75		$ 306	$ 238	$ 174
CVR Partners
Related Party Transaction [Line Items]
Distribution Per Common Unit (in dollars per share)	$ 0.07	$ 0.14	$ 0.07	$ 0.12		$ 0.40		$ 0.02
Distributions Paid	$ 8	$ 16	$ 8	$ 14		$ 46		$ 2
Distributions declared (in dollars per share)					$ 0
CVR Partners \| CVR Energy
Related Party Transaction [Line Items]
Distributions Paid	3	5	3	5		16		1
IEP
Related Party Transaction [Line Items]
Dividends Paid	57	54	54	53		218	$ 179	$ 142
Stockholders
Related Party Transaction [Line Items]
Dividends Paid	24	21	21	22		88
Public Unitholders \| CVR Partners
Related Party Transaction [Line Items]
Distributions Paid	$ 5	$ 11	$ 5	$ 9		$ 30

Selected Quarterly Financial Information - Summarized Quarterly Financial Data (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 1,569	$ 1,622	$ 1,687	$ 1,486	$ 1,738	$ 1,935	$ 1,915	$ 1,536	$ 6,364	$ 7,124	$ 5,988
Cost of materials and other	1,262	1,221	1,267	1,101	1,388	1,556	1,560	1,179	4,851	5,683	4,953
Direct operating expenses	136	139	132	126	127	120	140	130	533	517	516
Operating (loss) income	69	159	192	160	124	164	108	136	580	532	145
Net income (loss)	28	104	128	102	95	108	70	93	362	366	258
Net income (loss) attributable to noncontrolling interest	(16)	(15)	12	1	22	28	24	33	(18)	107	(5)
Net income (loss) attributable to CVR Energy stockholders	$ 44	$ 119	$ 116	$ 101	$ 73	$ 80	$ 46	$ 60	$ 380	$ 259	$ 263
Basic and diluted earnings per share (in dollars per share)	$ 0.44	$ 1.18	$ 1.16	$ 1.00	$ 0.73	$ 0.85	$ 0.53	$ 0.69	$ 3.78	$ 2.80	$ 3.03
Dividends declared per share (in dollars per share)	$ 0.80	$ 0.75	$ 0.75	$ 0.75	$ 0.75	$ 0.75	$ 0.50	$ 0.50	$ 3.05	$ 2.50	$ 2.00
Weighted-average common shares outstanding - basic and diluted (in shares)	100.5	100.5	100.5	100.5	100.5	95.8	86.8	86.8	100.5	92.5	86.8

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 35,000,000
Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	35,000,000
Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 35,000,000