0001376139-21-000021 | 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, 2020	Feb. 19, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 590
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 2021 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
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents (including $31 and $37, respectively, of consolidated variable interest entities (VIEs))	$ 667	$ 652
Accounts receivable (including $37 and $34, respectively, of VIEs)	178	182
Inventories (including $42 and $48, respectively, of VIEs)	298	373
Prepaid expenses and other current assets (including $8 and $5, respectively, of VIEs)	259	67
Total current assets	1,402	1,274
Property, plant and equipment, net (including $898 and $952, respectively, of VIEs)	2,240	2,336
Other long-term assets (including $17 and $61, respectively, of VIEs)	336	295
Total assets	3,978	3,905
Current liabilities:
Note payable and finance lease obligations (including $2 and $0, respectively, of VIEs)	8	5
Accounts payable (including $25 and $24, respectively, of VIEs)	282	412
Other current liabilities (including $49 and $52, respectively, of VIEs)	369	179
Total current liabilities	659	596
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion (including $634 and $632, respectively of VIEs)	1,683	1,190
Deferred income taxes	368	396
Other long-term liabilities (including $8 and $10, respectively, of VIEs)	49	55
Total long-term liabilities	2,100	1,641
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, 2020 and 2019, respectively	1	1
Additional paid-in-capital	1,510	1,507
Retained deficit	(490)	(113)
Treasury stock, 98,610 shares at cost	(2)	(2)
Total CVR stockholders’ equity	1,019	1,393
Noncontrolling interest	200	275
Total equity	1,219	1,668
Total liabilities and equity	$ 3,978	$ 3,905

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents	$ 667	$ 652
Accounts receivable	178	182
Inventories	298	373
Prepaid expenses and other current assets	259	67
Property, plant and equipment, net	2,240	2,336
Other long-term assets	336	295
Note payable and finance lease obligations	8	5
Accounts payable	282	412
Other current liabilities	369	179
Long-term debt and finance lease obligations, net of current portion	1,683	1,190
Other long-term liabilities	$ 49	$ 55
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	$ 31	$ 37
Accounts receivable	37	34
Inventories	42	48
Prepaid expenses and other current assets	8	5
Property, plant and equipment, net	898	952
Other long-term assets	17	61
Note payable and finance lease obligations	2	0
Accounts payable	25	24
Other current liabilities	49	52
Long-term debt and finance lease obligations, net of current portion	634	632
Other long-term liabilities	$ 8	$ 10

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 3,930,000,000	$ 6,364,000,000	$ 7,124,000,000
Operating costs and expenses:
Cost of materials and other	3,373,000,000	4,851,000,000	5,683,000,000
Direct operating expenses (exclusive of depreciation and amortization)	478,000,000	533,000,000	517,000,000
Depreciation and amortization	268,000,000	278,000,000	263,000,000
Cost of sales	4,119,000,000	5,662,000,000	6,463,000,000
Selling, general and administrative expenses (exclusive of depreciation and amortization)	86,000,000	117,000,000	112,000,000
Depreciation and amortization	10,000,000	9,000,000	11,000,000
Loss (gain) on asset disposals	7,000,000	(4,000,000)	6,000,000
Goodwill impairment	41,000,000	0	0
Operating (loss) income	(333,000,000)	580,000,000	532,000,000
Other (expense) income:
Interest expense, net	(130,000,000)	(102,000,000)	(102,000,000)
Investment income from marketable securities	41,000,000	0	0
Other income, net	7,000,000	13,000,000	15,000,000
(Loss) income before income taxes	(415,000,000)	491,000,000	445,000,000
Income tax (benefit) expense	(95,000,000)	129,000,000	79,000,000
Net (loss) income	(320,000,000)	362,000,000	366,000,000
Less: Net (loss) income attributable to non-controlling interest	(64,000,000)	(18,000,000)	107,000,000
Net (loss) income attributable to CVR Energy stockholders	$ (256,000,000)	$ 380,000,000	$ 259,000,000
Basic and diluted (loss) earnings per share (in dollars per share)	$ (2.54)	$ 3.78	$ 2.80
Dividends declared per share (in dollars per share)	$ 1.20	$ 3.05	$ 2.50
Weighted-average common shares outstanding:
Basic and Diluted (in shares)	100.5	100.5	92.5

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Effect of turnaround accounting change	CVR Refining	CVR Partners	Total CVR Stockholders’ Equity	Total CVR Stockholders’ Equity Effect of turnaround accounting change	Common Stock	Additional Paid-In Capital	Additional Paid-In Capital Effect of turnaround accounting change	Retained Deficit	Treasury Stock	Noncontrolling Interest	Noncontrolling Interest CVR Refining	Noncontrolling Interest CVR Partners
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	$ 35			1,286	$ 35	$ 1	1,474	$ 35	(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
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(121)				(121)					(121)
Changes in equity due to CVR Partners’ common unit repurchases	(8)				3			3				(11)
Net income (loss)	(320)				(256)					(256)		(64)
Balance (in shares) at Dec. 31, 2020							100,629,209
Balance at Dec. 31, 2020	$ 1,219				$ 1,019		$ 1	$ 1,510		$ (490)	$ (2)	$ 200

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net (loss) income	$ (320,000,000)	$ 362,000,000	$ 366,000,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	278,000,000	287,000,000	274,000,000
Loss on lower of cost or net realizable value adjustments	59,000,000	0	0
Goodwill impairment	41,000,000	0	0
Deferred income taxes	(30,000,000)	24,000,000	49,000,000
Unrealized gain on marketable securities	(34,000,000)	0	0
Loss (gain) on asset disposals	7,000,000	(4,000,000)	6,000,000
Share-based compensation	4,000,000	17,000,000	16,000,000
Other non-cash items	10,000,000	6,000,000	3,000,000
Changes in assets and liabilities:
Accounts receivable	31,000,000	(40,000,000)	56,000,000
Inventories	9,000,000	(10,000,000)	(9,000,000)
Prepaid expenses and other current assets	(28,000,000)	16,000,000	(29,000,000)
Due to parent	0	4,000,000	2,000,000
Accounts payable	(121,000,000)	94,000,000	(21,000,000)
Deferred revenue	(2,000,000)	(15,000,000)	11,000,000
Other current liabilities	188,000,000	9,000,000	(104,000,000)
Other long-term assets and liabilities	(2,000,000)	(3,000,000)	8,000,000
Net cash provided by operating activities	90,000,000	747,000,000	628,000,000
Cash flows from investing activities:
Capital expenditures	(124,000,000)	(121,000,000)	(102,000,000)
Turnaround expenditures	(159,000,000)	(38,000,000)	(8,000,000)
Proceeds from sale of assets	1,000,000	37,000,000	1,000,000
Investment in marketable securities	(140,000,000)	0	0
Other investing activities	(1,000,000)	1,000,000	1,000,000
Net cash used in investing activities	(423,000,000)	(121,000,000)	(108,000,000)
Cash flows from financing activities:
Proceeds from issuance of senior secured notes	1,000,000,000	0	0
Principal payments on senior secured notes	(500,000,000)	0	0
Call premium on extinguishment of debt	(5,000,000)	0	0
Repurchase of CVR Partners common units	(7,000,000)	0	0
Acquisition of CVR Refining common units	0	(301,000,000)	0
Dividends to CVR Energy’s stockholders	(121,000,000)	(306,000,000)	(238,000,000)
Other financing activities	(12,000,000)	(5,000,000)	(3,000,000)
Net cash provided by (used in) financing activities	355,000,000	(642,000,000)	(334,000,000)
Net increase (decrease) in cash and cash equivalents and restricted cash	22,000,000	(16,000,000)	186,000,000
Cash and cash equivalents and restricted cash, beginning of period	652,000,000	668,000,000	482,000,000
Cash and cash equivalents and restricted cash, end of period	674,000,000	652,000,000	668,000,000
CVR Refining
Cash flows from financing activities:
Distributions to noncontrolling interest holders	0	0	(93,000,000)
CVR Partners
Cash flows from financing activities:
Distributions to noncontrolling interest holders	$ 0	$ (30,000,000)	$ 0

Organization and Nature of Business	12 Months Ended
Organization and Nature of Business	Dec. 31, 2020
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, 2020. Stock Repurchase Program On October 23, 2019, the Board of Directors authorized a stock repurchase program (the “Stock Repurchase Program”). The Stock Repurchase Program enables 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 Board of Directors at any time. We did not repurchase any of our common stock during the year ended December 31, 2020. 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 Interest Holders - As of December 31, 2020, public common unitholders held approximately 64% of CVR Partners’ outstanding common units, and CVR Services, LLC (“CVR Services”) (formerly Coffeyville Resources, LLC), a wholly-owned subsidiary of CVR Energy, held approximately 36% of CVR Partners’ outstanding common units. In addition, CVR Services held 100% of CVR Partners’ general partner, CVR GP, LLC (“CVR GP”), which held a non-economic general partner interest in CVR Partners as of December 31, 2020. 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. NYSE Listing Requirements and Reverse Split - On April 20, 2020, the average closing price of CVR Partners’ common units over a 30 consecutive trading-day period fell below $1.00 per common unit, resulting in noncompliance with the continued listing compliance standards in Section 802.01C of the NYSE Listed Company Manual. CVR Partners received written notification of this noncompliance from the NYSE on April 22, 2020, and had until January 1, 2021 to regain compliance or be subject to the NYSE’s suspension and delisting procedures. See the Form 8-K filed by CVR Partners with the SEC on April 24, 2020 for further discussion. On November 2, 2020, CVR Partners announced that the board of directors of its general partner (the "UAN GP Board") approved a 1-for-10 reverse split of CVR Partners’ common units that was completed on November 23, 2020, pursuant to which each ten common units of CVR Partners would be converted into one common unit of the CVR Partners (the “Reverse Unit Split”). In accordance with CVR Partners’ Agreement of Limited Partnership, as amended, following the Reverse Unit Split, any fractional units of record holders were rounded up or down, as applicable, to the nearest whole common unit, with any fraction equal to or above 0.5 common units rounding up to the next higher common unit. Following the Reverse Unit Split, the number of CVR Partners common units outstanding decreased from approximately 111 million common units to approximately 11 million common units, with proportionate adjustments to the common units under CVR Partners’ long-term incentive plan and outstanding awards thereunder. CVR Partners’ common units began trading on a split-adjusted basis when markets opened on November 24, 2020, under the symbol “UAN” and a new CUSIP number. The reverse split enabled the Partnership to regain compliance with NYSE listing requirements on November 30, 2020, in advance of the January 1, 2021 deadline. Unit Repurchase Program - On May 6, 2020, the UAN GP Board, on behalf of CVR Partners, authorized a unit repurchase program (the “Unit Repurchase Program”). The Unit Repurchase Program enables CVR Partners to repurchase up to $10 million of its common units. During the year ended December 31, 2020, CVR Partners repurchased 623,177 common units, on the open market in accordance with a repurchase agreement under Rules 10b5-1 and 10b-18 of the Exchange Act, which was terminated on August 6, 2020, at a cost of $7 million, inclusive of transaction costs, or an average price of $11.35 per common unit. At December 31, 2020, CVR Partners had $3 million in authority remaining under the Unit Repurchase Program. On February 22, 2021, the UAN GP Board authorized an additional $10 million for the Unit Repurchase Program. This Unit Repurchase Program does not obligate CVR Partners to acquire any common units and may be cancelled or terminated by the UAN GP Board at any time. As a result of these repurchases, and the resulting change in CVR Energy’s ownership of CVR Partners while maintaining control, CVR Energy recognized an increase of $3 million to additional paid-in capital from the non-cash reduction of non-controlling interests totaling $4 million and the recognition of a deferred tax liability totaling $1 million from changes in its book versus tax basis in CVR Partners. 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, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

(2) Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying consolidated financial statements, prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”), include the accounts of the Company and its majority-owned direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated. 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, 2020, 2019, and 2018.

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, 2019 and 2018 to conform with current presentation. Catalyst inventory with a value of $17 million as of December 31, 2019 was reclassified in the first quarter of 2020 to Other long-term assets to conform to current presentation.

Use of Estimates

The consolidated financial statements are prepared in conformity with 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.

Restricted Cash

Restricted cash consists of cash that must be maintained in a commercial escrow account pending resolution of certain litigation matters and is discussed further in Note 11 (“Commitments and Contingencies”).

Accounts Receivable, net

Accounts receivable, net 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 discussed further 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 was approximately 11% and 11% of the net accounts receivable balance at December 31, 2020 and 2019, respectively. During the years ended December 31, 2020 and 2019, the Company had nominal bad debt expense, and during the year ended December 31, 2018, a recovery was recognized of $1 million related to bad debt expense previously written off.

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 GAAP 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.

The carrying amounts of the Petroleum Segment’s inventories exceeded their net realizable value (market value) by $58 million resulting in the recognition of a lower of cost or net realizable value adjustment as of March 31, 2020. The $58 million loss represents the difference between the carrying value of the Petroleum Segment’s inventories accounted for using the FIFO method and selling prices for refined products subsequent to March 31, 2020. No adjustment was necessary as of December 31, 2020 or December 31, 2019.

Inventories consisted of the following:


	December 31,
(in millions)	2020		2019
Finished goods	$	133	$	177
Raw materials	83		112
In-process inventories	16		18
Parts and supplies	66		66
Total Inventories	$	298	$	373

At December 31, 2020 and 2019, inventories related to the Nitrogen Fertilizer Segment included depreciation of approximately $2 million and $5 million, respectively.

Property, Plant and Equipment, net

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						10 to 30
Buildings and improvements						1 to 30
Machinery and equipment						2 to 30
Furniture and fixtures						3 to 10
Right-of-use (“ROU”) finance leases						3 to 18
Other						5 to 30

Property, plant and equipment, net consisted of the following:


	December 31,
(in millions)	2020		2019
Machinery and equipment	$	3,881	$	3,805
Buildings and improvements	88		87
ROU finance leases	80		81
Land and improvements	47		46
Furniture and fixtures	38		35
Construction in progress	100		95
Other	15		14
	4,249		4,163
Less: Accumulated depreciation	2,009		1,827
Total Property, plant and equipment, net	$	2,240	$	2,336

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 $10 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.

As of December 31, 2020, the Company had not identified the existence of an impairment indicator for its long-lived asset groups as outlined under Accounting Standards Codification (“ASC”) Topic 360, Property, Plant, and Equipment.

Leases

At inception, the Company determines whether an arrangement is a lease and the appropriate lease classification. Operating leases are included as operating lease 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 Note payable and finance lease obligations 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, net” section above is applicable. The periodic lease payments are treated as payments of the lease obligation and interest is recorded as interest expense.

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 maturity date of the facility. The deferred financing costs are included net within Long-term debt and finance lease obligations, net of current portion and in Other long-term liabilities for the line-of-credit arrangements where no debt balance exists.

Impairment of Long-Lived Assets and Goodwill

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.

One of the reporting units associated with our Nitrogen Fertilizer Segment’s Coffeyville, Kansas facility (the “Coffeyville Facility”) had a goodwill balance of $41 million at December 31, 2019. During the second quarter of 2020, following the completion of the spring planting season, the market pricing for ammonia and UAN, the Nitrogen Fertilizer Segment’s two primary products, experienced significant pricing declines driven by updated market expectations around supply and demand fundamentals which were expected to continue into the second half of 2020. Additionally, significant uncertainty remained as to the nature and extent of impacts to be seen on the overall demand for corn and soybean given reduced ethanol production and broader economic conditions which may negatively impact demand. Therefore in connection with the preparation of the financial statements for the three months ended June 30, 2020, given the pricing declines experienced in the second quarter of 2020, further muting of our near-term economic recovery assumptions, and market price performance of CVR Partners’ common units, the Company concluded an impairment indicator was present and a triggering event under ASC Topic 350, Intangibles-Goodwill and Other, had occurred as of June 30, 2020. Significant assumptions inherent in the valuation methodologies for goodwill are employed and include, but are not limited to, prospective financial information, growth rates, discount rates, inflationary factors, and cost of capital. Based on the interim quantitative analysis, it was determined that the estimated fair value of the Coffeyville Facility reporting unit did not exceed its carrying value. As a result, the Company recorded a full, non-cash impairment charge of $41 million during the year ended December 31, 2020.

As there is no goodwill balance at December 31, 2020, no annual impairment review was performed. The Company performed its annual impairment review of goodwill for 2019 and 2018 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 period ended December 31, 2018, the fair value of the Coffeyville Fertilizer Facility exceeded its carrying value by approximately 36% 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 environmental, health, and safety rules and regulations. Liabilities related to future remediation costs of past environmental contamination of properties are recognized when the related costs are considered 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. Management periodically reviews and, as appropriate, revises its environmental accruals. Environmental expenditures for capital assets 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 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 adoption of ASC Topic 606, Revenue from Contracts with Customers, 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, purchased ammonia, purchased hydrogen, 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, including turnaround, 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, Investments and Fair Value Measurements”) for further discussion of the Company’s derivative activity.

Other financial instruments consisting of cash and cash equivalents, restricted cash, 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, Investments and Fair Value Measurements”) 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 related Consolidated Statements of Operations, Consolidated Statements of Changes in Equity, and Consolidated Statements of Cash Flows for the year 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

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, 2020, 2019, and 2018, the Nitrogen Fertilizer Segment incurred turnaround expenses of $1 million, $10 million, and $6 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 on Consolidated Statement of Operations and Consolidated Statement of Cash Flows for the Year Ended December 31, 2018


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


Income tax expense (benefit)	89		(10)		79
Net income (loss)	$	411	$	(45)	$	366
Less: Net income (loss) attributable to noncontrolling interest	122		(15)		107
Net income (loss) attributable to CVR Energy stockholders	$	289	$	(30)	$	259

Consolidated Statement of Cash Flows



Net cash provided by operating activities	$	620	$	8	$	628

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

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 (benefit) expense.

Earnings Per Share

There were no dilutive awards outstanding during the years ended December 31, 2020, 2019, and 2018.

Recent Accounting Pronouncements - Adoption of Credit Losses Standard

In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“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, we adopted this ASU with no material impact on the Company’s consolidated financial position or results of operations.

Recent Accounting Pronouncements - Adoption of Fair Value Measurement Standard

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 with no material impact on the Company’s disclosures.

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

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. The Company does not intend to early adopt this ASU.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848). This ASU was issued because, by the end of 2021, banks will no longer be required to report information that is used to determine London Interbank Offered Rate (“LIBOR”), which is used globally by all types of entities. As a result, LIBOR could be discontinued, as well as other interest rates used globally. ASU 2020-04 provides companies with optional expedients for contract modifications under Topics 310, 470, 842, and 815-15, excluded components of certain hedging relationships, fair value hedges, and cash flow hedges, as well as certain exceptions, which are intended to help ease the potential accounting burden associated with transitioning away from these reference rates. Companies can apply the ASU immediately. However, the guidance will only be available for a limited time (generally through December 31, 2022). The Company is currently evaluating the impact that adopting this new accounting standard will have on its consolidated financial statements and related disclosures. or results of operations.

In October 2020, the FASB issued ASU 2020-10, Codification Improvements. The ASU amends various sections of the codification in the Boards ongoing efforts to simplify and improve guidance. 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. The Company does not intend to early adopt this ASU.

Equity Method Investments

12 Months Ended

Dec. 31, 2020

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 150,000 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, 2018	6		78		84

Cash Distributions	(4)		(9)		(13)
Equity income	4		6		10
Balance at December 31, 2019	6		75		81
Cash Distributions	(4)		(6)		(10)
Equity income	4		5		9
Balance at December 31, 2020	$	6	$	74	$	80

Leases

12 Months Ended

Dec. 31, 2020

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. 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.

Balance Sheet Summary as of December 31, 2020 and 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, 2020 and 2019:


	December 31,
(in millions)	2020		2019
Operating Leases:
ROU asset, net
Pipeline and storage	$	15	$	20
Railcars	8		12
Real estate and other	14		16
Lease liability
Pipelines and storage	$	16	$	22
Railcars	8		12
Real estate and other	14		14


	December 31,
(in millions)	2020		2019
Finance Leases:
ROU asset, net
Pipeline and storage	$	26	$	29
Real estate and other	21		24
Lease liability
Pipelines and storage	$	38	$	40
Real estate and other	22		25

Lease Expense Summary for the Year Ended December 31, 2020 and 2019

We recognize lease expense on a straight-line basis over the lease term. For the year ended December 31, 2020 and 2019, we recognized lease expense comprised of the following components:


	Year Ended December 31,
(in millions)	2020		2019
Operating lease expense	$	17	$	12
Finance lease expense:
Amortization of ROU asset	$	6	$	7
Interest expense on lease liability	6		6

Short-term lease expense, recognized within Direct operating expenses (exclusive of depreciation and amortization), was $8 million and $8 million for the year ended December 31, 2020 and 2019, respectively.

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,
	2020		2019
Weighted-average remaining lease term (years)
Operating Leases	3.1		3.7
Finance Leases	8.1		9.0
Weighted-average discount rate
Operating Leases	5.5	%	5.6	%
Finance Leases	9.0	%	8.9	%

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, 2020:


(in millions)	Operating Leases		Finance Leases
2021	$	16	$	11
2022	12		11
2023	8		10
2024	5		10
2025	—		10
Thereafter	—		33
Total lease payments	41		85
Less: imputed interest	(3)		(25)
Total lease liability	$	38	$	60

On July 31, 2020, Coffeyville Resources Nitrogen Fertilizers, LLC (“CRNF”), a subsidiary of CVR Partners, and Messer LLC (“Messer”) entered into an On-Site Product Supply Agreement (the “Messer Agreement”). Under the Messer Agreement, among other obligations, Messer is obligated to supply and make certain capital improvements during the term of the Messer Agreement, and CRNF is obligated to take as available and pay for, oxygen, nitrogen, and compressed dry air from Messer’s facility. This arrangement for CRNF’s purchase of oxygen, nitrogen, and dry air from Messer does not meet the definition of a lease under FASB ASC Topic 842, Leases, (“Topic 842”), as CRNF does not expect to receive substantially all of the output of Messer’s on-site production from its air separation unit over the life of the Messer Agreement. The Messer Agreement also obligates Messer to install a new oxygen storage vessel and related equipment to be used solely by the Coffeyville Facility. This arrangement for the use of the oxygen storage vessel and related equipment meets the definition of a lease under Topic 842, as CRNF will receive all output associated with the vessel. Based on terms outlined in the Messer Agreement, the Company expects the lease of the oxygen storage vessel to be classified as a financing lease with an amount between $20 and $25 million being capitalized upon lease commencement when the oxygen storage vessel is placed in service.

Leases

(4) Leases

Lease Overview

Balance Sheet Summary as of December 31, 2020 and 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, 2020 and 2019:


	December 31,
(in millions)	2020		2019
Operating Leases:
ROU asset, net
Pipeline and storage	$	15	$	20
Railcars	8		12
Real estate and other	14		16
Lease liability
Pipelines and storage	$	16	$	22
Railcars	8		12
Real estate and other	14		14


	December 31,
(in millions)	2020		2019
Finance Leases:
ROU asset, net
Pipeline and storage	$	26	$	29
Real estate and other	21		24
Lease liability
Pipelines and storage	$	38	$	40
Real estate and other	22		25

Lease Expense Summary for the Year Ended December 31, 2020 and 2019

We recognize lease expense on a straight-line basis over the lease term. For the year ended December 31, 2020 and 2019, we recognized lease expense comprised of the following components:


	Year Ended December 31,
(in millions)	2020		2019
Operating lease expense	$	17	$	12
Finance lease expense:
Amortization of ROU asset	$	6	$	7
Interest expense on lease liability	6		6

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,
	2020		2019
Weighted-average remaining lease term (years)
Operating Leases	3.1		3.7
Finance Leases	8.1		9.0
Weighted-average discount rate
Operating Leases	5.5	%	5.6	%
Finance Leases	9.0	%	8.9	%

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, 2020:


(in millions)	Operating Leases		Finance Leases
2021	$	16	$	11
2022	12		11
2023	8		10
2024	5		10
2025	—		10
Thereafter	—		33
Total lease payments	41		85
Less: imputed interest	(3)		(25)
Total lease liability	$	38	$	60

Other Current Liabilities

12 Months Ended

Dec. 31, 2020

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

(5) Other Current Liabilities

Other current liabilities were as follows:


	December 31,
(in millions)	2020		2019
Accrued Renewable Fuel Standards (“RFS”) obligation	$	214	$	7
Accrued taxes other than income taxes	32		28
Deferred revenue	31		28
Personnel accruals	23		47
Accrued interest	25		9
Accrued derivatives	17		7
Operating lease liabilities	14		14

Share-based compensation	4		6
Accrued income taxes	—		24
Other accrued expenses and liabilities	9		9
Total other current liabilities	$	369	$	179

Long-Term Debt and Finance Lease Obligations

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt and Finance Lease Obligations

(6) Long-Term Debt and Finance Lease Obligations


	December 31,
(in millions)	2020		2019
CVR Partners:
9.25% Senior Secured Notes, due June 2023	$	645	$	645
6.50% Senior Notes, due April 2021, net of current portion (1)	—		2
Unamortized discount and debt issuance costs	(11)		(15)
Total CVR Partners debt	$	634	$	632
CVR Refining:
6.50% Senior Notes, due November 2022 (2)	$	—	$	500
Finance lease obligations, net of current portion (3)	55		61
Unamortized debt issuance cost	—		(3)
Total CVR Refining debt	55		558
CVR Energy:
5.250% Senior Notes, due February 2025	$	600	$	—
5.750% Senior Notes, due February 2028	400		—
Unamortized debt issuance cost	(6)		—
Total CVR Energy debt	994		—
Total long-term debt and finance lease obligations	$	1,683	$	1,190
Current portion of long-term debt and finance lease obligations (1)(3)	8		5
Total long-term debt and finance lease obligations, including current portion	$	1,691	$	1,195

(1)The 6.50% Senior Notes, due April 2021, mature within 12 months, and, therefore, the outstanding balance of $2 million has been classified as short-term as of December 31, 2020.

(2)On January 27, 2020, the Company redeemed all of the 6.50% Senior Notes, due November 2022 (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 $6 million and $5 million as of December 31, 2020 and 2019, respectively.

Credit Agreements


(in millions)	Total Capacity		Amount Borrowed as of December 31, 2020		Outstanding Letters of Credit		Available Capacity as of December 31, 2020		Maturity Date
CVR Partners:
Asset Based (“Nitrogen Fertilizer ABL”) Credit Agreement (1)(2)	$	20	$	—	$	—	$	20	September 30, 2022
CVR Refining:
Amended and Restated Asset Based (“Petroleum ABL”) Credit Agreement (3)	$	400	$	—	$	35	$	365	November 14, 2022

(1)Through December 31, 2020, loans under the Nitrogen Fertilizer ABL bear interest at an annual rate equal to (i) 1.00% plus a base rate. Thereafter, loans will bear interest (i) at such rates if our quarterly excess availability is greater than 50% and (ii) 1.50% plus a base rate, otherwise.

(2)The Nitrogen Fertilizer ABL was amended on September 29, 2020, to, among other things, reduce the commitments thereunder to $35 million and extended the maturity date to September 30, 2022. Deferred financing costs of less than $1 million were capitalized related to this amendment and will be amortized from Prepaid expenses and other current assets and Other long-term assets over the remaining term of Nitrogen Fertilizer ABL.

(3)Loans under the Petroleum ABL bear interest at an annual rate equal to (i) 0.50% plus a base rate, if our quarterly excess availability is greater than 50% and (ii) 0.75% plus a base rate, otherwise.

The Company is in compliance with all covenants of the Nitrogen Fertilizer ABL, Petroleum ABL, and the senior notes as of December 31, 2020.

CVR Partners

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

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.

Nitrogen Fertilizer ABL - On September 29, 2020, CVR Partners entered into Amendment No. 1 to the Nitrogen Fertilizer ABL with a group of lenders and UBS AG, Stamford Branch (“UBS”), as administrative agent and collateral agent. The Nitrogen Fertilizer ABL reduced its aggregate principal amount of availability from $50 million to $35 million, and extended

the scheduled maturity to September 30, 2022. The amendment also removed from the borrowing base calculation the restricted cash and cash equivalent component and increased the advance rate for certain eligible inventory.

CVR Refining

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.

Petroleum ABL - On November 14, 2017, CVR Services, 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.

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, 2020

Revenue from Contract with Customer [Abstract]

Revenue

(7) Revenue

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


	Year Ended December 31, 2020
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Gasoline	$	1,882	$	—	$	—	$	1,882
Distillates (1)	1,543		—		—		1,543
Ammonia	—		94		—		94
UAN	—		198		—		198
Other urea products	—		15		—		15

Freight revenue	18		33		—		51
Other (2)	79		10		(6)		83
Revenue from product sales	3,522		350		(6)		3,866

Crude oil sales	63		—		—		63
Other revenue (2)	1		—		—		1
Total revenue	$	3,586	$	350	$	(6)	$	3,930


	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, 2020, the Nitrogen Fertilizer Segment had approximately $6 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 $3 million of these performance obligations as revenue by the end of 2021, an additional $2 million by 2022, and the remaining balance thereafter.

Contract Balances

The Nitrogen Fertilizer Segment’s deferred revenue is a contract liability that primarily relates to nitrogen fertilizer sales contracts requiring customer prepayment prior to product delivery to guarantee a price and supply of nitrogen fertilizer. Deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional prior to transferring product to the customer. An associated receivable is recorded for uncollected

prepaid contract amounts. Contracts requiring prepayment are generally short-term in nature and, as discussed above, revenue is recognized at the point in time in which the customer obtains control of the product.

A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the year ended December 31, 2020 is presented below:


(in millions)
Balance at December 31, 2019	$	28
Add:
New prepay contracts entered into during the period (1)	56
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	(27)
Revenue recognized related to contracts entered into during the period	(26)

Balance at December 31, 2020	$	31

(1)Includes $33 million where the payment associated with prepaid contracts was collected.

Major Customers

Petroleum Segment - The Petroleum Segment has two customers who comprised 26%, 25%, and 25% of petroleum net sales for the years ended December 31, 2020, 2019, and 2018, respectively.

Nitrogen Fertilizer Segment - The Nitrogen Fertilizer Segment has two customers who comprised 26%, 28%, and 20% of nitrogen fertilizer net sales for the years ended December 31, 2020, 2019, and 2018, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Derivative Financial Instruments, Investments and Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments, Investments and Fair Value Measurements

(8) Derivative Financial Instruments, Investments and Fair Value Measurements

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 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, 2020, the Petroleum Segment had open fixed-price commitments to purchase a net 13 million RINs.

Commodity derivatives include commodity swaps and forward purchase and sale commitments. There were 7 million outstanding commodity swap positions as of December 31, 2020 and no open commodity swaps in 2019. There were approximately 4 million and 3 million in forward purchase commitments as of December 31, 2020 and 2019, respectively, and 2 million and 1 million in forward sale commitments as of December 31, 2020 and 2019, 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)	2020		2019		2018
Forward purchases and sales contracts, net	$	53	$	20	$	103
Commodity swap instruments	(8)		—		44
Futures contracts	10		(1)		(1)
Total gain (loss) on derivatives, net	$	55	$	19	$	146

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)	2020		2019		2020		2019
Commodity derivatives	$	1	$	3	$	(5)	$	(11)

Less: Counterparty netting	(1)		(3)		1		3
Total net fair value of derivatives	$	—	$	—	$	(4)	$	(8)

Investments

Investments consist of equity securities, which are reported at fair value in our Consolidated Balance Sheets. These investments are considered trading securities. Investment income from marketable securities consists of the following:


	Year Ended December 31,
(in millions)	2020		2019		2018
Dividend income	$	7	$	—	$	—
Unrealized gain	34		—		—
Investment income from marketable securities	$	41	$	—	$	—

Fair Value Measurements

In accordance with FASB ASC Topic 820 — Fair Value Measurements and Disclosures (“Topic 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.

Topic 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, 2020 and 2019:


	December 31, 2020
(in millions)	Level 1		Level 2		Level 3		Total
Location and Description

Prepaid expenses and other current assets (investments)	$	173	$	—	$	—	$	173

Total Assets	$	173	$	—	$	—	$	173
Current portion of long-term debt	$	—	$	(2)	$	—	$	(2)
Other current liabilities (commodity derivatives)	—		(17)		—		(17)

Other current liabilities (RFS obligation)	—		(214)		—		(214)
Long-term debt and finance lease obligations, net of current portion	—		(1,604)		—		(1,604)
Total Liabilities	$	—	$	(1,837)	$	—	$	(1,837)


	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 and finance lease obligations, net of current portion	—		(1,180)		—		(1,180)
Total Liabilities	$	—	$	(1,195)	$	—	$	(1,195)

As of December 31, 2020 and 2019, the only financial assets and liabilities that are measured at fair value on a recurring basis are the Company’s investments, derivative instruments, long-term debt, and the RFS obligation. The estimated fair value of cash equivalents, included amounts invested in short-term money market funds, and restricted cash approximate their carrying amounts. 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, 2020.

Share-Based Compensation

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

(9) Share-Based Compensation

Overview

CVR Energy, CVR Refining, and CVR Partners all have Long-Term Incentive Plans (collectively, the “LTIPs”) which permit the granting of options, stock and unit appreciation rights, 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, 2020.

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, as applicable, have been granted and remain outstanding as of December 31, 2020. 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 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, 2020 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, 2019	1,052,480	$	32.55	$	36
Granted	2,036,383	15.12
Vested	(508,031)	28.36
Forfeited	(126,191)	31.65
Non-vested at December 31, 2020	2,454,641	$	19.01	$	37

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, 2020, 2019, and 2018 is presented below:


	Expenses						Unrecognized Expense
	For the year ended December 31,						At December 31, 2020
(in millions)	2020		2019		2018		Amount		Weighted-Average Remaining Years
Share based awards
Incentive Units	$	3	$	12	$	4	$	26	2.9
Phantom Units	1		5		8		7		2.8

Performance awards
CEO Performance Award	—		—		2		7		1.0
2018 CEO Performance Award	—		—		2		—		0.0
Former CEO Performance Award	—		—		—		—		0.0
Total expense	$	4	$	17	$	16	$	40

The total tax benefit recognized during the years ended December 31, 2020, 2019, and 2018 related to compensation expense was $1 million, $4 million and $4 million respectively. For the years ended December 31, 2020, 2019, and 2018, the Company paid cash of $8 million, $23 million, and $17 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 $10 million, $9 million, and $9 million for the years ended December 31, 2020, 2019, and 2018, respectively. Effective January 1, 2021, the matching contributions for the Plans have been suspended.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

(10) Income Taxes

Tax Allocation Agreement

In August 2018, CVR Energy completed an exchange offer whereby public unitholders tendered a total of 21,625,106 CVR Refining common units in exchange for a total of 13,699,549 shares of CVR Energy common stock (the “CVRR Unit Exchange”). 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 provided that AEP would 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. On August 2, 2018, CVR Energy became the parent of a new consolidated group for U.S. federal income tax purposes, filing and paying 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’s federal income tax return for the periods ended December 31, 2017 and 2018 are currently under examination by the IRS.

As of December 31, 2020 and 2019, the Company recognized a nominal payable for state income taxes due to AEP. The payable is recognized in Other current liabilities in the Consolidated Balance Sheets. As of December 31, 2020 and 2019, the Company’s Consolidated Balance Sheets reflected a receivable of $44 million from and a payable of $20 million to, respectively, the IRS and certain state jurisdictions.

Income Tax (Benefit) Expense

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


	Year Ended December 31,
(in millions)	2020		2019		2018
Current:
Federal	$	(63)	$	96	$	31
State	(5)		5		(7)
Total current	(68)		101		24
Deferred:
Federal	(1)		3		39
State	(26)		25		16
Total deferred	(27)		28		55
Total income tax (benefit) expense	$	(95)	$	129	$	79

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


	Year Ended December 31,
(in millions)	2020		2019		2018
Tax computed at federal statutory rate	$	(87)	$	103	$	94
State income taxes, net of federal tax benefit	(18)		29		12
State tax incentives, net of federal tax expense	(7)		(4)		(4)


Noncontrolling interest	13		4		(23)
Goodwill impairment	3		—		—
Other, net	1		(3)		—

Total income tax (benefit) expense	$	(95)	$	129	$	79

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, 2020 and 2019 are as follows:


	December 31,
(in millions)	2020		2019
Deferred income tax assets:
Personnel accruals	$	2	$	—
State tax credit carryforward, net	20		7
Net operating loss carryforward	9		—


Total gross deferred income tax assets	31		7
Deferred income tax liabilities:

Unrealized gain	(9)		—
Investment in CVR Partners	(67)		(61)
Investment in CVR Refining	(320)		(341)

Other	(3)		(1)
Total gross deferred income tax liabilities	(399)		(403)
Net deferred income tax liabilities	$	(368)	$	(396)

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, 2020 and 2019.

As of December 31, 2020, CVR Energy has state tax credits of approximately $30 million, which are available to reduce future state income taxes. These credits, if not used, will begin expiring in 2033.

Uncertain Tax Positions

A reconciliation of unrecognized tax benefits is as follows:


	Year Ended December 31,
(in millions)	2020		2019		2018
Balance, beginning of year	$	22	$	23	$	29
Decrease based on prior year tax position	(2)		—		—
Increase in current year tax positions	—		2		—
Reductions related to expirations from statute of limitations	(3)		(3)		(6)
Balance, end of year	$	17	$	22	$	23

Included in the balance of unrecognized tax benefits as of December 31, 2020, 2019, and 2018 are $13 million, $15 million, and $18 million, respectively, of tax benefits that, if recognized, would affect the effective tax rate. Additionally, the Company reasonably believes that no unrecognized tax positions related to state income tax credits will be recognized by the end of 2021 as a result of the expiration of statute of limitations. Approximately $8 million and $10 million of unrecognized tax benefits were netted with Deferred income tax asset carryforwards as of December 31, 2020 and 2019, respectively. The remaining unrecognized tax benefits are included in Other long-term liabilities in the Consolidated Balance Sheets.

CVR Energy recognized nominal interest expense and $1 million liability for interest as of December 31, 2020, nominal interest benefit and nominal liability for interest as of December 31, 2019, and interest benefit of approximately $1 million and nominal liability for interest as of December 31, 2018. No penalties were recognized during 2020, 2019, or 2018.

At December 31, 2020, the Company’s tax filings are generally open to examination in the United States for the tax years ended December 31, 2017 through December 31, 2019 and in various individual states for the tax years ended December 31, 2016 through December 31, 2019.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

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)
2021	$	127
2022	83
2023	81
2024	77
2025	73
Thereafter	325
	$	766

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, 2020, 2019, and 2018, amounts purchased under these supply agreements totaled approximately $153 million, $167 million, and $214 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 33%, 36% and 42% for the years ended December 31, 2020, 2019, and 2018, respectively. The Crude Oil Supply Agreement, which currently extends through December 31, 2021, 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

Call Option - In 2019, the Company, CVR Refining and its general partner, CVR Refining Holdings, IEP, and certain directors and affiliates were named in at least one of nine lawsuits filed in the Delaware Court of Chancery by purported former unitholders of CVR Refining, on behalf of themselves and an alleged class of similarly situated unitholders relating to the Company’s exercise of the call option (“Call Option”) under the CVR Refining Amended and Restated Agreement of Limited Partnership assigned to it by CVR Refining’s general partner (the “Delaware Lawsuits”). The Delaware 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. In January 2020, the court dismissed CVR Holdings and certain former directors of CVR Refining’s general partner from the Delaware Lawsuits, though permitted some or all of the claims to proceed against each remaining defendant. On April 6, 2020, a lawsuit was filed in the United States District Court for the Southern District of New York against the Company, CVR Refining and its general partner, CVR Refining Holdings, IEP, and the Company’s Chief Executive Officer by purported former unitholders of CVR Refining on behalf of themselves and an alleged class of similarly situated unitholders (the “New York Lawsuit” and together with the Delaware Lawsuits, the “Call Option Lawsuits”) primarily alleging violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 thereunder and seeking monetary damages and attorney’s fees, among other remedies. The Company believes the Call Option Lawsuits are without merit and intends to vigorously defend against them. Discovery is currently on-going. Accordingly, the Company cannot determine at this time the outcome of the Call Option Lawsuits, including whether such outcome would have a material impact on the Company’s financial position, results of operations, or cash flows.

On January 27, 2021, a lawsuit was filed against the Company, CVR Refining and its general partner, CVR Refining Holdings, IEP, and certain directors and affiliates in the 434th Judicial District Court of Fort Bend County, Texas by their primary and excess insurers (the “Insurers”) seeking a declaratory judgement determining that they owe no indemnity coverage for the Call Option Lawsuits in relation to insurance policies that have coverage limits of $50 million. The Company believes this lawsuit is without merit and intends to vigorously defend the claims against them. The lawsuit is in the early stages of litigation. Accordingly, the Company cannot determine at this time the outcome of the litigation, including whether the outcome of this matter would have a material impact on the Company’s financial position, results of operations, or cash flows.

Wynnewood Small Refinery Exemption - During 2019, WRC intervened in a lawsuit filed by four ethanol and biofuels trade associations against the Environmental Protection Agency (“EPA”), claiming the EPA exceeded its authority in granting WRC’s Wynnewood Refinery’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 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. After the 10th Circuit refused to rehear the case, WRC and others filed a petition for writ of certiorari in the Supreme Court of the United States (the “Supreme Court”) on September 4, 2020, which was granted by the Supreme Court on January 8, 2021. The case is currently expected to be argued in April 2021. As it is not yet clear how the Supreme Court will rule, or what steps the EPA will take with respect to SREs, we cannot currently estimate the outcome, impact, or timing of resolution of this matter.

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

Clean Air Act Matter - On August 21, 2018, CRRM received a letter from the United States Department of Justice (“DOJ”) on behalf of the EPA and KDHE alleging violations of the CAA and a 2012 Consent Decree (the “CD”) between Coffeyville Resources Refining & Marketing, LLC (“CRRM”), the United States (on behalf of the EPA) and the Kansas Department of Health and Environment (“KDHE”) at CRRM’s Coffeyville refinery. In June 2020, a tolling agreement between the parties relating to such allegations expired, and the DOJ and KDHE sent demand letters relating to the allegations (the “Stipulated Claims”) and seeking stipulated penalties. In February 2021, the DOJ and KDHE sent CRRM a statement of position under the CD regarding its demand for Stipulated Claims. As CRRM disputes most claims asserted by the government, in accordance with the CD, CRRM deposited funds into a commercial escrow account pending resolution of disputed claims. The escrowed funds are legally restricted for use and are included within Prepaid expenses and other current assets on the consolidated balance sheets. In December 2020, the DOJ and KDHE filed a supplement complaint in the United States District Court for the District of Kansas (“D. Kan”) asserting nine counts for alleged violations of the Clean Air Act, the Kansas State Implementation Plan and Kansas law (“the Statutory Claims”) and seeking civil penalties, injunctive and related relief. Negotiations relating to the Stipulated Claims and the Statutory Claims are ongoing and the Company cannot determine at this time the outcome of these matters, including whether such outcome, or any subsequent enforcement or litigation relating thereto would 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 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 $190 million, $43 million, and $60 million for the years ended December 31, 2020, 2019, and 2018, 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 and represent costs to comply with the RFS obligation through purchasing of RINs not otherwise reduced by blending of ethanol or biodiesel. At each reporting period, to the extent RINs purchased or generated through blending are less than the RFS obligation, the remaining obligation is marked-to-market using RIN market prices at period end. As of December 31, 2020 and 2019, the Petroleum Segment’s RFS obligation was approximately $214 million and $7 million, respectively, which is recorded in Other current liabilities in the Consolidated Balance Sheets.

Environmental Remediation - As of December 31, 2020 and 2019, environmental accruals representing estimated costs for future remediation efforts at certain Petroleum Segment sites totaled approximately $11 million and $6 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 - In October 2020, the 10th Circuit affirmed a 2019 decision of the Occupational Safety and Health Review Commission which (a) upheld citations issued by the Occupational Safety and Health Administration (“OSHA”) to WRC in 2013 for violations of the OSHA arising from a September 2012 explosion in a boiler unit at the Wynnewood Refinery, but (b) found that such violations were not “repeat violations” under the OSHA. As a result of the decision, WRC is obligated to pay a penalty by March 2021, the amount of which is not material. In addition, WRC has been removed from the OSHA Severe Violators Enforcement Program.

Business Segments

12 Months Ended

Dec. 31, 2020

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)	2020		2019		2018
Net sales
Petroleum	$	3,586	$	5,968	$	6,780
Nitrogen Fertilizer	350		404		351
Other	(6)		(8)		(7)
Total	$	3,930	$	6,364	$	7,124










Operating (loss) income
Petroleum	$	(281)	$	574	$	544
Nitrogen Fertilizer	(35)		27		6
Other	(17)		(21)		(18)
Total	(333)		580		532
Interest expense, net	(130)		(102)		(102)

Investment income from marketable securities	41		—		—
Other income, net	7		13		15
(Loss) income before income taxes	$	(415)	$	491	$	445
Depreciation and amortization
Petroleum	$	202	$	202	$	196
Nitrogen Fertilizer	76		80		72
Other	—		5		6
Total	$	278	$	287	$	274
Capital expenditures (1)
Petroleum	$	90	$	89	$	89
Nitrogen fertilizer	16		20		19
Other	15		5		3
Total	$	121	$	114	$	111

The following table summarizes total assets by segment:


	December 31,
(in millions)	2020		2019
Petroleum	$	2,991	$	3,187
Nitrogen Fertilizer	1,033		1,138
Other (2)	(46)		(420)
Total assets	$	3,978	$	3,905

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

(2)Includes elimination of intercompany assets and net cash proceeds from the Notes issued during the year ended December 31, 2020.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2020

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)	2020		2019		2018
Supplemental disclosures:
Cash (received for income taxes, net of payments) paid for income taxes, net of refunds	$	(2)	$	69	$	31
Cash paid for interest	113		104		103
Cash paid for amounts included in the measurement of lease liabilities (1):
Operating cash flows from operating leases	17		16
Operating cash flows from finance leases	6		6
Financing cash flows from finance leases	5		5
Non-cash investing and financing activities:
Change in construction in progress included in accounts payable (2)	(3)		(7)		9

(1)The lease standard was adopted on January 1, 2019 on a prospective basis. Therefore, only 2020 and 2019 disclosures are applicable to be included within the table above.

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

Cash, cash equivalents and restricted cash consisted of the following:


	December 31,
(in millions)	2020		2019
Cash and cash equivalents	$	667	$	652
Restricted cash (3)	7		—
Cash, cash equivalents and restricted cash	$	674	$	652

(3)The restricted cash balance is included within Prepaid expenses and other current assets on the consolidated balance sheets.

Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions

(14) Related Party Transactions

Activity associated with the Company’s related party arrangements for the years ended December 31, 2020, 2019, and 2018 is summarized below:


Expenses with related parties
	Year Ended December 31,
(in millions)	2020		2019		2018
Cost of materials and other


Joint Venture Transportation Agreement:
Enable	$	11	$	12	$	8

Payments (received) made

Dividends (1)	85		218		179
Tax Allocation Agreement:
AEP	—		(3)		12

(1)See below for a summary of the dividends paid to IEP for the years ended December 31, 2020, 2019, and 2018.

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, 2020, 2019, and 2018, CRRM incurred costs of $17 million, $21 million, and $18 million, respectively, from crude oil transportation services incurred on the Midway JV through Vitol as the intermediary purchasing agent.

Agency Arrangement with IEP

On February 4, 2020, CVR Energy and Icahn Enterprises Holdings LP (“IEH”), a subsidiary of IEP, entered into an agency arrangement wherein IEH would act as the agent for CVR Energy. Under this arrangement, the Company invested approximately $140 million in certain marketable securities of Delek US Holdings, Inc. (“Delek”) (NYSE ticker symbol: DK) and could make additional investments in Delek or invest in other public companies in the future under this arrangement. The Company reimbursed IEH for all costs associated with the initial purchase and did not incur any additional fees as part of this transaction.

Property Exchange

On October 18, 2019, the Conflicts Committee of the UAN GP Board and on October 22, 2019, the audit committee of the Board of Directors, each agreed to authorize the exchange of certain parcels of property owned by CRRM with an equal number of parcels owned by CRNF, all located in Coffeyville, Kansas (the “Property Exchange”). On February 19, 2020, CRRM and CRNF 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. This transaction resulted in no net impact on the Company’s condensed consolidated financial statements.

Dividends to CVR Energy Stockholders

Dividends, if any, including the payment, amount and timing thereof, are subject to change at the discretion of the Board of Directors. 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 year ended December 31, 2020 (amounts presented in tables below may not add to totals presented due to rounding).


				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Share		Stockholders		IEP		Total
2019 - 4th Quarter	March 9, 2020	$	0.80	$	23	$	57	$	80
2020 - 1st Quarter	May 26, 2020	0.40		12		28		40

Total		$	1.20	$	35	$	85	$	121

No dividends were declared for the second, third and fourth quarters of 2020. During the years ended December 31, 2019 and 2018, the Company paid dividends totaling $3.05 and $2.50 per common share, or $306 million and $238 million, respectively. Of these dividends, IEP received $218 million and $179 million, respectively, for the same periods.

Distributions to CVR Partners’ Unitholders

Distributions, if any, including the payment, amount and timing thereof, are subject to change at the discretion of the UAN GP Board. There were no distributions declared or paid by CVR Partners during the year ended December 31, 2020 related to the fourth quarter of 2019 or the first, second, and third quarters of 2020, and no distributions were declared for the fourth quarter of 2020.

During the year ended December 31, 2019, the Partnership paid distributions totaling $4.00 per common unit on a split-adjusted basis, or $45 million. Of these distributions, CVR Energy received $16 million for the year ended December 31, 2019. The Partnership did not pay distributions during the year ended December 31, 2018.

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 as of June 30, 2018. These results are based on the information provided by Mr. Icahn’s affiliates based on information from the plans’ actuaries. As of December 31, 2020 and 2019, 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.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Principles of Consolidation

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.

Reclassifications

ReclassificationsCertain reclassifications have been made within the consolidated financial statements for the years ended December 31, 2019 and 2018 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.

Restricted Cash

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 GAAP 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, net


Asset						Range of Useful Lives, in Years
Land and improvements						10 to 30
Buildings and improvements						1 to 30
Machinery and equipment						2 to 30
Furniture and fixtures						3 to 10
Right-of-use (“ROU”) finance leases						3 to 18
Other						5 to 30

Property, plant and equipment, net consisted of the following:


	December 31,
(in millions)	2020		2019
Machinery and equipment	$	3,881	$	3,805
Buildings and improvements	88		87
ROU finance leases	80		81
Land and improvements	47		46
Furniture and fixtures	38		35
Construction in progress	100		95
Other	15		14
	4,249		4,163
Less: Accumulated depreciation	2,009		1,827
Total Property, plant and equipment, net	$	2,240	$	2,336

costs are expensed when incurred.

Leases

Deferred Financing Costs

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets and Goodwill

Goodwill

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. One of the reporting units associated with our Nitrogen Fertilizer Segment’s Coffeyville, Kansas facility (the “Coffeyville Facility”) had a goodwill balance of $41 million at December 31, 2019. During the second quarter of 2020, following the completion of the spring planting season, the market pricing for ammonia and UAN, the Nitrogen Fertilizer Segment’s two primary products, experienced significant pricing declines driven by updated market expectations around supply and demand fundamentals which were expected to continue into the second half of 2020. Additionally, significant uncertainty remained as to the nature and extent of impacts to be seen on the overall demand for corn and soybean given reduced ethanol production and broader economic conditions which may negatively impact demand. Therefore in connection with the preparation of the financial statements for the three months ended June 30, 2020, given the pricing declines experienced in the second quarter of 2020, further muting of our near-term economic recovery assumptions, and market price performance of CVR Partners’ common units, the Company concluded an impairment indicator was present and a triggering event under ASC Topic 350, Intangibles-Goodwill and Other, had occurred as of June 30, 2020. Significant assumptions inherent in the valuation methodologies for goodwill are employed and include, but are not limited to, prospective financial information, growth rates, discount rates, inflationary factors, and cost of capital. Based on the interim quantitative analysis, it was determined that the estimated fair value of the Coffeyville Facility reporting unit did not exceed its carrying value. As a result, the Company recorded a full, non-cash impairment charge of $41 million during the year ended December 31, 2020.As there is no goodwill balance at December 31, 2020, no annual impairment review was performed. The Company performed its annual impairment review of goodwill for 2019 and 2018 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 period ended December 31, 2018, the fair value of the Coffeyville Fertilizer Facility exceeded its carrying value by approximately 36% based upon the results of the reporting unit’s goodwill impairment test.

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 Classifications

Derivatives and Fair Value of Financial Instruments

Turnaround Expenses

expense related to turnaround costs is included in Depreciation and amortization in the Consolidated Statements of Operations. During the years ended December 31, 2020, 2019, and 2018, the Petroleum Segment capitalized $155 million, $38 million, and $8 million, respectively.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, 2020, 2019, and 2018.

Recent Accounting Pronouncements

Recent Accounting Pronouncements - Adoption of Credit Losses Standard

Recent Accounting Pronouncements - Adoption of Fair Value Measurement Standard

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

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of inventories

Inventories consisted of the following:


	December 31,
(in millions)	2020		2019
Finished goods	$	133	$	177
Raw materials	83		112
In-process inventories	16		18
Parts and supplies	66		66
Total Inventories	$	298	$	373

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

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


Asset						Range of Useful Lives, in Years
Land and improvements						10 to 30
Buildings and improvements						1 to 30
Machinery and equipment						2 to 30
Furniture and fixtures						3 to 10
Right-of-use (“ROU”) finance leases						3 to 18
Other						5 to 30

Property, plant and equipment, net consisted of the following:


	December 31,
(in millions)	2020		2019
Machinery and equipment	$	3,881	$	3,805
Buildings and improvements	88		87
ROU finance leases	80		81
Land and improvements	47		46
Furniture and fixtures	38		35
Construction in progress	100		95
Other	15		14
	4,249		4,163
Less: Accumulated depreciation	2,009		1,827
Total Property, plant and equipment, net	$	2,240	$	2,336

Effect of accounting standards adoption and accounting changes on financial statements

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


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


Income tax expense (benefit)	89		(10)		79
Net income (loss)	$	411	$	(45)	$	366
Less: Net income (loss) attributable to noncontrolling interest	122		(15)		107
Net income (loss) attributable to CVR Energy stockholders	$	289	$	(30)	$	259

Consolidated Statement of Cash Flows



Net cash provided by operating activities	$	620	$	8	$	628

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

Equity Method Investments (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Schedule of equity method investments


(in millions)	Enable JV		Midway JV		Total
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
Cash Distributions	(4)		(6)		(10)
Equity income	4		5		9
Balance at December 31, 2020	$	6	$	74	$	80

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

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, 2020 and 2019:


	December 31,
(in millions)	2020		2019
Operating Leases:
ROU asset, net
Pipeline and storage	$	15	$	20
Railcars	8		12
Real estate and other	14		16
Lease liability
Pipelines and storage	$	16	$	22
Railcars	8		12
Real estate and other	14		14


	December 31,
(in millions)	2020		2019
Finance Leases:
ROU asset, net
Pipeline and storage	$	26	$	29
Real estate and other	21		24
Lease liability
Pipelines and storage	$	38	$	40
Real estate and other	22		25

Lease expense, terms, and discount rates

For the year ended December 31, 2020 and 2019, we recognized lease expense comprised of the following components:


	Year Ended December 31,
(in millions)	2020		2019
Operating lease expense	$	17	$	12
Finance lease expense:
Amortization of ROU asset	$	6	$	7
Interest expense on lease liability	6		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,
	2020		2019
Weighted-average remaining lease term (years)
Operating Leases	3.1		3.7
Finance Leases	8.1		9.0
Weighted-average discount rate
Operating Leases	5.5	%	5.6	%
Finance Leases	9.0	%	8.9	%

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, 2020:


(in millions)	Operating Leases		Finance Leases
2021	$	16	$	11
2022	12		11
2023	8		10
2024	5		10
2025	—		10
Thereafter	—		33
Total lease payments	41		85
Less: imputed interest	(3)		(25)
Total lease liability	$	38	$	60

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, 2020:


(in millions)	Operating Leases		Finance Leases
2021	$	16	$	11
2022	12		11
2023	8		10
2024	5		10
2025	—		10
Thereafter	—		33
Total lease payments	41		85
Less: imputed interest	(3)		(25)
Total lease liability	$	38	$	60

Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

Other current liabilities were as follows:


	December 31,
(in millions)	2020		2019
Accrued Renewable Fuel Standards (“RFS”) obligation	$	214	$	7
Accrued taxes other than income taxes	32		28
Deferred revenue	31		28
Personnel accruals	23		47
Accrued interest	25		9
Accrued derivatives	17		7
Operating lease liabilities	14		14

Share-based compensation	4		6
Accrued income taxes	—		24
Other accrued expenses and liabilities	9		9
Total other current liabilities	$	369	$	179

Long-Term Debt and Finance Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of long-term debt


	December 31,
(in millions)	2020		2019
CVR Partners:
9.25% Senior Secured Notes, due June 2023	$	645	$	645
6.50% Senior Notes, due April 2021, net of current portion (1)	—		2
Unamortized discount and debt issuance costs	(11)		(15)
Total CVR Partners debt	$	634	$	632
CVR Refining:
6.50% Senior Notes, due November 2022 (2)	$	—	$	500
Finance lease obligations, net of current portion (3)	55		61
Unamortized debt issuance cost	—		(3)
Total CVR Refining debt	55		558
CVR Energy:
5.250% Senior Notes, due February 2025	$	600	$	—
5.750% Senior Notes, due February 2028	400		—
Unamortized debt issuance cost	(6)		—
Total CVR Energy debt	994		—
Total long-term debt and finance lease obligations	$	1,683	$	1,190
Current portion of long-term debt and finance lease obligations (1)(3)	8		5
Total long-term debt and finance lease obligations, including current portion	$	1,691	$	1,195

(1)The 6.50% Senior Notes, due April 2021, mature within 12 months, and, therefore, the outstanding balance of $2 million has been classified as short-term as of December 31, 2020.

(3)Current portion of finance lease obligations was approximately $6 million and $5 million as of December 31, 2020 and 2019, respectively.

Credit Agreements


(in millions)	Total Capacity		Amount Borrowed as of December 31, 2020		Outstanding Letters of Credit		Available Capacity as of December 31, 2020		Maturity Date
CVR Partners:
Asset Based (“Nitrogen Fertilizer ABL”) Credit Agreement (1)(2)	$	20	$	—	$	—	$	20	September 30, 2022
CVR Refining:
Amended and Restated Asset Based (“Petroleum ABL”) Credit Agreement (3)	$	400	$	—	$	35	$	365	November 14, 2022

Schedule of redemption prices as percentage of principal amount


12-month period beginning June 15,						Percentage

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=120391452&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=119993939&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=120395691&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=119993939&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, 2020

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major product


	Year Ended December 31, 2020
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Gasoline	$	1,882	$	—	$	—	$	1,882
Distillates (1)	1,543		—		—		1,543
Ammonia	—		94		—		94
UAN	—		198		—		198
Other urea products	—		15		—		15

Freight revenue	18		33		—		51
Other (2)	79		10		(6)		83
Revenue from product sales	3,522		350		(6)		3,866

Crude oil sales	63		—		—		63
Other revenue (2)	1		—		—		1
Total revenue	$	3,586	$	350	$	(6)	$	3,930


	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, 2020 is presented below:


(in millions)
Balance at December 31, 2019	$	28
Add:
New prepay contracts entered into during the period (1)	56
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	(27)
Revenue recognized related to contracts entered into during the period	(26)

Balance at December 31, 2020	$	31

(1)Includes $33 million where the payment associated with prepaid contracts was collected.

Derivative Financial Instruments, Investments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

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)	2020		2019		2018
Forward purchases and sales contracts, net	$	53	$	20	$	103
Commodity swap instruments	(8)		—		44
Futures contracts	10		(1)		(1)
Total gain (loss) on derivatives, net	$	55	$	19	$	146

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)	2020		2019		2020		2019
Commodity derivatives	$	1	$	3	$	(5)	$	(11)

Less: Counterparty netting	(1)		(3)		1		3
Total net fair value of derivatives	$	—	$	—	$	(4)	$	(8)

Derivative offsetting liabilities


	Derivative Assets				Derivative Liabilities
	December 31,				December 31,
(in millions)	2020		2019		2020		2019
Commodity derivatives	$	1	$	3	$	(5)	$	(11)

Less: Counterparty netting	(1)		(3)		1		3
Total net fair value of derivatives	$	—	$	—	$	(4)	$	(8)

Components of investment income from marketable securities

Investment income from marketable securities consists of the following:


	Year Ended December 31,
(in millions)	2020		2019		2018
Dividend income	$	7	$	—	$	—
Unrealized gain	34		—		—
Investment income from marketable securities	$	41	$	—	$	—

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, 2020 and 2019:


	December 31, 2020
(in millions)	Level 1		Level 2		Level 3		Total
Location and Description

Prepaid expenses and other current assets (investments)	$	173	$	—	$	—	$	173

Total Assets	$	173	$	—	$	—	$	173
Current portion of long-term debt	$	—	$	(2)	$	—	$	(2)
Other current liabilities (commodity derivatives)	—		(17)		—		(17)

Other current liabilities (RFS obligation)	—		(214)		—		(214)
Long-term debt and finance lease obligations, net of current portion	—		(1,604)		—		(1,604)
Total Liabilities	$	—	$	(1,837)	$	—	$	(1,837)


	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 and finance lease obligations, net of current portion	—		(1,180)		—		(1,180)
Total Liabilities	$	—	$	(1,195)	$	—	$	(1,195)

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020 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, 2019	1,052,480	$	32.55	$	36
Granted	2,036,383	15.12
Vested	(508,031)	28.36
Forfeited	(126,191)	31.65
Non-vested at December 31, 2020	2,454,641	$	19.01	$	37


	Expenses						Unrecognized Expense
	For the year ended December 31,						At December 31, 2020
(in millions)	2020		2019		2018		Amount		Weighted-Average Remaining Years
Share based awards
Incentive Units	$	3	$	12	$	4	$	26	2.9
Phantom Units	1		5		8		7		2.8

Performance awards
CEO Performance Award	—		—		2		7		1.0
2018 CEO Performance Award	—		—		2		—		0.0
Former CEO Performance Award	—		—		—		—		0.0
Total expense	$	4	$	17	$	16	$	40

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of income tax (benefit) expense

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


	Year Ended December 31,
(in millions)	2020		2019		2018
Current:
Federal	$	(63)	$	96	$	31
State	(5)		5		(7)
Total current	(68)		101		24
Deferred:
Federal	(1)		3		39
State	(26)		25		16
Total deferred	(27)		28		55
Total income tax (benefit) expense	$	(95)	$	129	$	79

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

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


	Year Ended December 31,
(in millions)	2020		2019		2018
Tax computed at federal statutory rate	$	(87)	$	103	$	94
State income taxes, net of federal tax benefit	(18)		29		12
State tax incentives, net of federal tax expense	(7)		(4)		(4)


Noncontrolling interest	13		4		(23)
Goodwill impairment	3		—		—
Other, net	1		(3)		—

Total income tax (benefit) expense	$	(95)	$	129	$	79

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, 2020 and 2019 are as follows:


	December 31,
(in millions)	2020		2019
Deferred income tax assets:
Personnel accruals	$	2	$	—
State tax credit carryforward, net	20		7
Net operating loss carryforward	9		—


Total gross deferred income tax assets	31		7
Deferred income tax liabilities:

Unrealized gain	(9)		—
Investment in CVR Partners	(67)		(61)
Investment in CVR Refining	(320)		(341)

Other	(3)		(1)
Total gross deferred income tax liabilities	(399)		(403)
Net deferred income tax liabilities	$	(368)	$	(396)

Schedule of reconciliation of the unrecognized tax benefits

A reconciliation of unrecognized tax benefits is as follows:


	Year Ended December 31,
(in millions)	2020		2019		2018
Balance, beginning of year	$	22	$	23	$	29
Decrease based on prior year tax position	(2)		—		—
Increase in current year tax positions	—		2		—
Reductions related to expirations from statute of limitations	(3)		(3)		(6)
Balance, end of year	$	17	$	22	$	23

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

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)
2021	$	127
2022	83
2023	81
2024	77
2025	73
Thereafter	325
	$	766

Business Segments (Tables)

12 Months Ended

Dec. 31, 2020

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)	2020		2019		2018
Net sales
Petroleum	$	3,586	$	5,968	$	6,780
Nitrogen Fertilizer	350		404		351
Other	(6)		(8)		(7)
Total	$	3,930	$	6,364	$	7,124










Operating (loss) income
Petroleum	$	(281)	$	574	$	544
Nitrogen Fertilizer	(35)		27		6
Other	(17)		(21)		(18)
Total	(333)		580		532
Interest expense, net	(130)		(102)		(102)

Investment income from marketable securities	41		—		—
Other income, net	7		13		15
(Loss) income before income taxes	$	(415)	$	491	$	445
Depreciation and amortization
Petroleum	$	202	$	202	$	196
Nitrogen Fertilizer	76		80		72
Other	—		5		6
Total	$	278	$	287	$	274
Capital expenditures (1)
Petroleum	$	90	$	89	$	89
Nitrogen fertilizer	16		20		19
Other	15		5		3
Total	$	121	$	114	$	111

The following table summarizes total assets by segment:


	December 31,
(in millions)	2020		2019
Petroleum	$	2,991	$	3,187
Nitrogen Fertilizer	1,033		1,138
Other (2)	(46)		(420)
Total assets	$	3,978	$	3,905

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

(2)Includes elimination of intercompany assets and net cash proceeds from the Notes issued during the year ended December 31, 2020.

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Schedule of supplemental cash flow information related to income taxes, interest, leases, and capital expenditures included in accounts payable

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


	Year Ended December 31,
(in millions)	2020		2019		2018
Supplemental disclosures:
Cash (received for income taxes, net of payments) paid for income taxes, net of refunds	$	(2)	$	69	$	31
Cash paid for interest	113		104		103
Cash paid for amounts included in the measurement of lease liabilities (1):
Operating cash flows from operating leases	17		16
Operating cash flows from finance leases	6		6
Financing cash flows from finance leases	5		5
Non-cash investing and financing activities:
Change in construction in progress included in accounts payable (2)	(3)		(7)		9

(1)The lease standard was adopted on January 1, 2019 on a prospective basis. Therefore, only 2020 and 2019 disclosures are applicable to be included within the table above.

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

Schedule of cash and cash equivalents

Cash, cash equivalents and restricted cash consisted of the following:


	December 31,
(in millions)	2020		2019
Cash and cash equivalents	$	667	$	652
Restricted cash (3)	7		—
Cash, cash equivalents and restricted cash	$	674	$	652

(3)The restricted cash balance is included within Prepaid expenses and other current assets on the consolidated balance sheets.

Schedule of restricted cash

Cash, cash equivalents and restricted cash consisted of the following:


	December 31,
(in millions)	2020		2019
Cash and cash equivalents	$	667	$	652
Restricted cash (3)	7		—
Cash, cash equivalents and restricted cash	$	674	$	652

(3)The restricted cash balance is included within Prepaid expenses and other current assets on the consolidated balance sheets.

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of related party transactions

Activity associated with the Company’s related party arrangements for the years ended December 31, 2020, 2019, and 2018 is summarized below:


Expenses with related parties
	Year Ended December 31,
(in millions)	2020		2019		2018
Cost of materials and other


Joint Venture Transportation Agreement:
Enable	$	11	$	12	$	8

Payments (received) made

Dividends (1)	85		218		179
Tax Allocation Agreement:
AEP	—		(3)		12

(1)See below for a summary of the dividends paid to IEP for the years ended December 31, 2020, 2019, and 2018.

Schedule of dividends paid

The following presents dividends paid to the Company's stockholders, including IEP, during the year ended December 31, 2020 (amounts presented in tables below may not add to totals presented due to rounding).


				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Share		Stockholders		IEP		Total
2019 - 4th Quarter	March 9, 2020	$	0.80	$	23	$	57	$	80
2020 - 1st Quarter	May 26, 2020	0.40		12		28		40

Total		$	1.20	$	35	$	85	$	121

Organization and Nature of Business - Narrative (Details)				8 Months Ended	12 Months Ended
	Nov. 23, 2020 shares	Oct. 23, 2019 USD ($)	Jan. 29, 2019 USD ($) $ / shares	Dec. 31, 2020 USD ($)	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)	Feb. 22, 2021 USD ($)	Nov. 22, 2020 shares	May 06, 2020 USD ($)
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Stock/Unit Repurchase Program, authorized amount		$ 300,000,000
Duration of Stock Repurchase Program		4 years
Common stock repurchased (in shares) \| shares					0
Repurchase of CVR Partners' common units on open market and change in ownership while maintaining control						$ 336,000,000
Recognition of deferred tax liability from change in book versus tax basis in CVR Partners				$ 1,000,000	$ 1,000,000
Additional Paid-In Capital
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Repurchase of CVR Partners' common units on open market and change in ownership while maintaining control				3,000,000		2,000,000
Noncontrolling Interest
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Repurchase of CVR Partners' common units on open market and change in ownership while maintaining control				(4,000,000)		$ 334,000,000
CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Stock/Unit Repurchase Program, authorized amount									$ 10,000,000
Common stock repurchased (in shares) \| shares					623,177
Percentage of interest held by public					64.00%
Reverse Unit Split, conversion ratio	0.1
Common unitholders, outstanding (in units) \| shares	11,000,000							111,000,000
Cost, inclusive of transaction costs, of repurchase of outstanding common units					$ 7,000,000
Average price per common unit (in dollars per share) \| $ / shares					$ 11.35
Amount remaining under Unit Repurchase Program				$ 3,000,000	$ 3,000,000
CVR Partners \| Subsequent Event
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Stock/Unit Repurchase Program, authorized amount							$ 10,000,000
CVR Services \| CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by wholly-owned subsidiary					36.00%
CVR Services \| CVR GP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by general partner					100.00%
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) \| $ / shares			$ 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, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Other comprehensive income recognized	$ 0	$ 0	$ 0

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669619-108580

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21463-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121640130&loc=d3e1436-108581

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669625-108580

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ Details

Summary of Significant Accounting Policies - Reclassifications (Details) - USD ($) $ in Millions	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reclassification out of inventory	$ (298)		$ (373)
Reclassification to other long-term assets	$ 336		$ 295
Adjustment \| Catalyst Inventory
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reclassification out of inventory		$ 17
Reclassification to other long-term assets		$ 17

Summary of Significant Accounting Policies - Accounts Receivable, net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivable, net
Bad debt expense	$ 0	$ 0
Recovery related to bad debt expense previously written off			$ 1
Accounts receivable \| Credit concentration
Accounts Receivable, net
Largest concentrations of credit for any one customer	11.00%	11.00%

Summary of Significant Accounting Policies - Schedule of Inventories (Details) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Inventories, carrying amounts in excess of market value			$ 59,000,000	$ 0	$ 0
Finished goods		$ 133,000,000	133,000,000	177,000,000
Raw materials		83,000,000	83,000,000	112,000,000
In-process inventories		16,000,000	16,000,000	18,000,000
Parts and supplies		66,000,000	66,000,000	66,000,000
Total Inventories		298,000,000	298,000,000	373,000,000
Petroleum
Segment Reporting Information [Line Items]
Inventories, carrying amounts in excess of market value	$ 58,000,000	0		0
Nitrogen Fertilizer
Segment Reporting Information [Line Items]
Depreciation of inventories		$ 2,000,000	$ 2,000,000	$ 5,000,000

Summary of Significant Accounting Policies - Property, Plant and Equipment, net (Details) - USD ($) $ in Millions		12 Months Ended
	May 21, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
ROU finance leases		$ 80	$ 81
Property, plant and equipment, gross		4,249	4,163
Less: Accumulated depreciation		2,009	1,827
Total Property, plant and equipment, net		2,240	2,336
Gain on disposal of property, plant and equipment		(7)	4	$ (6)
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	$ 10
Machinery and equipment
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		3,881	3,805
Buildings and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		88	87
Land and improvements
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		47	46
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		38	35
Construction in progress
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		100	95
Other
Property, Plant and Equipment [Line Items]
Gross property, plant and equipment		$ 15	$ 14
Minimum
Property, Plant and Equipment [Line Items]
Right-of-use (ROU) finance leases, Useful life		3 years
Minimum \| Machinery and equipment
Property, Plant and Equipment [Line Items]
Useful life		2 years
Minimum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Useful life		1 year
Minimum \| Land and improvements
Property, Plant and Equipment [Line Items]
Useful life		10 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]
Right-of-use (ROU) finance leases, Useful life		18 years
Maximum \| Machinery and equipment
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 \| Land and improvements
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)	3 Months Ended	12 Months Ended
	Jun. 30, 2020 product	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Goodwill [Line Items]
Goodwill		$ 0
Goodwill impairment		$ 41,000,000	$ 0	$ 0
Coffeyville reporting unit, percentage of fair value in excess of carrying value				36.00%
Nitrogen Fertilizer
Goodwill [Line Items]
Goodwill			$ 41,000,000
Number of primary products experiencing significant pricing declines \| product	2

Summary of Significant Accounting Policies - Turnaround Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Petroleum Segment
Planned Major Maintenance Activities [Line Items]
Amortization period	4 years
Turnaround costs capitalized	$ 155	$ 38	$ 8
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	$ 1	$ 10	$ 6
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 Statement of Operations and Statement of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated Statement of Operations
Direct operating expenses	$ 478	$ 533	$ 517
Depreciation and amortization	268	278	263
Income tax expense (benefit)	(95)	129	79
Net income (loss)	(320)	362	366
Less: Net income (loss) attributable to noncontrolling interest	(64)	(18)	107
Net (loss) income attributable to CVR Energy stockholders	(256)	380	259
Consolidated Statement of Cash Flows
Net cash provided by operating activities	90	747	628
Net cash used by investing activities	$ (423)	$ (121)	(108)
As Previously Reported
Consolidated Statement of Operations
Direct operating expenses			523
Depreciation and amortization			202
Income tax expense (benefit)			89
Net income (loss)			411
Less: Net income (loss) attributable to noncontrolling interest			122
Net (loss) income attributable to CVR Energy stockholders			289
Consolidated Statement of Cash Flows
Net cash provided by operating activities			620
Net cash used by investing activities			(100)
Adjustment \| Effect of Turnaround Accounting Change
Consolidated Statement of Operations
Direct operating expenses			(6)
Depreciation and amortization			61
Income tax expense (benefit)			(10)
Net income (loss)			(45)
Less: Net income (loss) attributable to noncontrolling interest			(15)
Net (loss) income attributable to CVR Energy stockholders			(30)
Consolidated Statement of Cash Flows
Net cash provided by operating activities			8
Net cash used by investing activities			$ (8)

Summary of Significant Accounting Policies - Earnings Per Share (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Dilutive awards outstanding (in shares)	0	0	0

Equity Method Investments (Details) - CVR Refining bbl / d in Thousands	12 Months Ended
	Dec. 31, 2020 bbl / d mi
Enable JV
Related Party Transaction [Line Items]
Pipeline length (in miles) \| mi	26
Pipeline capacity, barrels per day \| bbl / d	115
Midway JV
Related Party Transaction [Line Items]
Pipeline length (in miles) \| mi	100
Pipeline capacity, barrels per day \| bbl / d	150
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, 2020	Dec. 31, 2019
Equity Method Investments [Roll Forward]
Balance at beginning of period	$ 81	$ 84
Cash Distributions	(10)	(13)
Equity income	9	10
Balance at end of period	80	81
Enable JV
Equity Method Investments [Roll Forward]
Balance at beginning of period	6	6
Cash Distributions	(4)	(4)
Equity income	4	4
Balance at end of period	6	6
Midway JV
Equity Method Investments [Roll Forward]
Balance at beginning of period	75	78
Cash Distributions	(6)	(9)
Equity income	5	6
Balance at end of period	$ 74	$ 75

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jul. 31, 2020
Lessee, Lease, Description [Line Items]
Short-term lease expense	$ 8	$ 8
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Financing lease not yet commenced, amount expected to be capitalized at commencement			$ 20
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	20 years
Financing lease not yet commenced, amount expected to be capitalized at commencement			$ 25

Leases - Balance Sheet Summary (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Operating Leases:
Lease liability	$ 38
Finance Leases:
Lease liability	60
Pipeline and storage
Operating Leases:
ROU asset, net	15	$ 20
Lease liability	16	22
Finance Leases:
ROU asset, net	26	29
Lease liability	38	40
Railcars
Operating Leases:
ROU asset, net	8	12
Lease liability	8	12
Real estate and other
Operating Leases:
ROU asset, net	14	16
Lease liability	14	14
Finance Leases:
ROU asset, net	21	24
Lease liability	$ 22	$ 25

Leases - Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease Expense (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 17	$ 12
Finance lease expense:
Amortization of ROU asset	6	7
Interest expense on lease liability	$ 6	$ 6

Leases - Lease Terms and Discount Rates (Details)	Dec. 31, 2020	Dec. 31, 2019
Weighted-average remaining lease term (years)
Operating Leases	3 years 1 month 6 days	3 years 8 months 12 days
Finance Leases	8 years 1 month 6 days	9 years
Weighted-average discount rate
Operating Leases	5.50%	5.60%
Finance Leases	9.00%	8.90%

Leases - Remaining Minimum Lease Payments (Details) $ in Millions	Dec. 31, 2020 USD ($)
Operating Leases
2021	$ 16
2022	12
2023	8
2024	5
2025	0
Thereafter	0
Total lease payments	41
Less: imputed interest	(3)
Total lease liability	38
Finance Leases
2021	11
2022	11
2023	10
2024	10
2025	10
Thereafter	33
Total lease payments	85
Less: imputed interest	(25)
Lease liability	$ 60

Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Accrued Renewable Fuel Standards (“RFS”) obligation	$ 214	$ 7
Accrued taxes other than income taxes	32	28
Deferred revenue	31	28
Personnel accruals	23	47
Accrued interest	25	9
Accrued derivatives	$ 17	$ 7
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Operating lease liabilities	$ 14	$ 14
Share-based compensation	4	6
Accrued income taxes	0	24
Other accrued expenses and liabilities	9	9
Total other current liabilities	$ 369	$ 179

Long-Term Debt and Finance Lease Obligations - Schedule of Debt (Details) - USD ($) $ in Millions	Jan. 27, 2020	Dec. 31, 2020	Dec. 31, 2019	Jun. 10, 2016	Oct. 23, 2012
Debt Instrument [Line Items]
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]		us-gaap:LongTermDebtAndCapitalLeaseObligations	us-gaap:LongTermDebtAndCapitalLeaseObligations
Total long-term debt and finance lease obligations		$ 1,683	$ 1,190
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]		us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Current portion of long-term debt and finance lease obligations		$ 8	$ 5
Total long-term debt and finance lease obligations, including current portion		1,691	1,195
Senior Notes \| 5.250% Senior Notes, due February 2025
Debt Instrument [Line Items]
Stated interest rate	5.25%
Senior Notes \| 5.750% Senior Notes, due February 2028
Debt Instrument [Line Items]
Stated interest rate	5.75%
CVR Energy
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs		(6)	0
Total debt, net of current portion		994	0
CVR Energy \| Senior Notes \| 5.250% Senior Notes, due February 2025
Debt Instrument [Line Items]
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount		$ 600	0
Stated interest rate		5.25%
CVR Energy \| Senior Notes \| 5.750% Senior Notes, due February 2028
Debt Instrument [Line Items]
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount		$ 400	0
Stated interest rate		5.75%
CVR Partners
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs		$ (11)	(15)
Total debt, net of current portion		634	632
CVR Partners \| Senior Notes \| 9.25% Senior Secured Notes, due June 2023
Debt Instrument [Line Items]
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount		$ 645	645
Stated interest rate		9.25%		9.25%
CVR Partners \| Senior Notes \| 6.50% Senior Notes, due April 2021
Debt Instrument [Line Items]
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount		$ 0	2
Stated interest rate		6.50%
Outstanding balance classified as short-term debt		$ 2
CVR Refining
Debt Instrument [Line Items]
Finance lease obligations, net of current portion		55	61
Unamortized discount and debt issuance costs		0	(3)
Total long-term debt and finance lease obligations		55	558
Current portion of long-term debt and finance lease obligations		6	5
CVR Refining \| Senior Notes \| 6.50% Senior Notes due November 2022
Debt Instrument [Line Items]
Total long-term debt, net of current portion, before finance lease obligations, debt issuance costs and discount		$ 0	$ 500
Stated interest rate	6.50%	6.50%			6.50%
Redemption price percentage	101.083%

Long-Term Debt and Finance Lease Obligations - Credit Facilities Outstanding (Details) - Line of Credit - Revolving Credit Facility - USD ($)	12 Months Ended
	Dec. 31, 2020	Sep. 29, 2020	Sep. 28, 2020
CVR Partners \| Asset Based (Nitrogen Fertilizer ABL) Credit Agreement
Line of Credit Facility [Line Items]
Total Capacity	$ 20,000,000	$ 35,000,000	$ 50,000,000
Amount Borrowed	0
Outstanding Letters of Credit	0
Available Capacity	$ 20,000,000
Deferred financing costs (less than)		$ 1,000,000
CVR Partners \| Asset Based (Nitrogen Fertilizer ABL) Credit Agreement, Through December 31, 2020 \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
CVR Partners \| Asset Based (Nitrogen Fertilizer ABL) Credit Agreement, After December 31, 2020 \| Base Rate \| Quarterly Excess Availability Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
CVR Partners \| Asset Based (Nitrogen Fertilizer ABL) Credit Agreement, After December 31, 2020 \| Base Rate \| Quarterly Excess Availability Not Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
CVR Refining \| Amended and Restated Asset Based (Petroleum ABL) Credit Agreement
Line of Credit Facility [Line Items]
Total Capacity	$ 400,000,000
Amount Borrowed	0
Outstanding Letters of Credit	35,000,000
Available Capacity	$ 365,000,000
CVR Refining \| Amended and Restated Asset Based (Petroleum ABL) Credit Agreement \| Base Rate \| Quarterly Excess Availability Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
CVR Refining \| Amended and Restated Asset Based (Petroleum ABL) Credit Agreement \| Base Rate \| Quarterly Excess Availability Not Greater Than 50%
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%

Long-Term Debt and Finance Lease Obligations - 2023 Notes (Details) - 2023 Notes - Senior Notes - CVR Partners - USD ($)	Dec. 31, 2020	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, 2020
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 - Nitrogen Fertilizer ABL (Details) - USD ($)	Dec. 31, 2020	Sep. 29, 2020	Sep. 28, 2020
Line of Credit \| Asset Based (Nitrogen Fertilizer ABL) Credit Agreement \| Revolving Credit Facility \| CVR Partners
Line of Credit Facility [Line Items]
Aggregate principal amount of availability	$ 20,000,000	$ 35,000,000	$ 50,000,000

Long-Term Debt and Finance Lease Obligations - 2022 Notes (Details) - USD ($)		3 Months Ended	12 Months Ended
	Jan. 27, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Oct. 23, 2012
Debt Instrument [Line Items]
Payment for redemption of debt			$ 500,000,000	$ 0	$ 0
Total premiums paid			$ 5,000,000	$ 0	$ 0
2022 Notes \| Senior Notes \| CVR Refining
Debt Instrument [Line Items]
Aggregate principal amount of private offering						$ 500,000,000
Stated interest rate	6.50%		6.50%			6.50%
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
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 - Petroleum ABL (Details) - Amended and Restated Asset Based (Petroleum ABL) Credit Agreement - 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 - 2025 Notes and 2028 Notes (Details) - USD ($)		12 Months Ended
	Jan. 27, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Net cash proceeds received		$ 1,000,000,000	$ 0	$ 0
2025 and 2028 Notes \| Senior Notes
Debt Instrument [Line Items]
Net cash proceeds received	$ 993,000,000
Debt issuance costs	7,000,000
2025 Notes \| Senior 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 \| Senior 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, 2020
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	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,930	$ 6,364	$ 7,124
Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,866	6,303	7,023
Gasoline
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,882	3,050	3,383
Distillates
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,543	2,705	3,083
Ammonia
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	94	94	66
UAN
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	198	251	222
Other urea products
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	15	18	21
Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	51	56	57
Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	83	129	191
Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	63	58	96
Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	1	3
Other revenue			5
Operating Segments \| Petroleum
Disaggregation of Revenue [Line Items]
Total revenue	3,586	5,968	6,780
Operating Segments \| Petroleum \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,522	5,907	6,679
Operating Segments \| Petroleum \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,882	3,050	3,383
Operating Segments \| Petroleum \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,543	2,705	3,083
Operating Segments \| Petroleum \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Operating Segments \| Petroleum \| UAN
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Operating Segments \| Petroleum \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Operating Segments \| Petroleum \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	18	23	23
Operating Segments \| Petroleum \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	79	129	190
Operating Segments \| Petroleum \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	63	58	96
Operating Segments \| Petroleum \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	1	3
Other revenue			5
Operating Segments \| Nitrogen Fertilizer
Disaggregation of Revenue [Line Items]
Total revenue	350	404	351
Operating Segments \| Nitrogen Fertilizer \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	350	404	351
Operating Segments \| Nitrogen Fertilizer \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Operating Segments \| Nitrogen Fertilizer \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Operating Segments \| Nitrogen Fertilizer \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	94	94	66
Operating Segments \| Nitrogen Fertilizer \| UAN
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	198	251	222
Operating Segments \| Nitrogen Fertilizer \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	15	18	21
Operating Segments \| Nitrogen Fertilizer \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	33	33	34
Operating Segments \| Nitrogen Fertilizer \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10	8	8
Operating Segments \| Nitrogen Fertilizer \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Operating Segments \| Nitrogen Fertilizer \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	0	0
Other revenue			0
Other / Eliminations
Disaggregation of Revenue [Line Items]
Total revenue	(6)	(8)	(7)
Other / Eliminations \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(6)	(8)	(7)
Other / Eliminations \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Other / Eliminations \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Other / Eliminations \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Other / Eliminations \| UAN
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Other / Eliminations \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Other / Eliminations \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Other / Eliminations \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(6)	(8)	(7)
Other / Eliminations \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Other / Eliminations \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	$ 0	$ 0
Other revenue			$ 0

Revenue - Additional information (Details)	12 Months Ended
Revenue - Additional information (Details)	Dec. 31, 2020
Petroleum \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	2 days
Petroleum \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	32 days
Nitrogen Fertilizer \| Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	15 days
Nitrogen Fertilizer \| Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment terms	30 days

Revenue - Remaining Performance Obligation (Details) - Nitrogen Fertilizer Segment $ in Millions	Dec. 31, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 6
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	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1
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, 2020 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at December 31, 2019	$ 28
Less:
Balance at December 31, 2020	31
Nitrogen Fertilizer Segment
Change in Contract with Customer, Liability [Roll Forward]
Balance at December 31, 2019	28
Add:
New prepay contracts entered into during the period	56
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	(27)
Revenue recognized related to contracts entered into during the period	(26)
Balance at December 31, 2020	31
Prepaid contracts, payment collected	$ 33

Revenue - Major Customers (Details) - Net Sales - Customer concentration - Two Customers	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Petroleum
Major Customers and Suppliers
Concentration risk	26.00%	25.00%	25.00%
Nitrogen Fertilizer
Major Customers and Suppliers
Concentration risk	26.00%	28.00%	20.00%

Derivative Financial Instruments, Investments and Fair Value Measurements - Additional Information (Details) - derivative	Dec. 31, 2020	Dec. 31, 2019
Commodity Swap
Derivative [Line Items]
Outstanding positions	7,000,000	0
Forward Contracts \| Purchase Commitments
Derivative [Line Items]
Outstanding positions	4,000,000	3,000,000
Forward Contracts \| Sale Commitments
Derivative [Line Items]
Outstanding positions	2,000,000	1,000,000
Forward Contracts, RINs
Derivative [Line Items]
Outstanding positions	13,000,000

Derivative Financial Instruments, Investments and Fair Value Measurements - Schedule of Gains (Losses) on Derivatives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives, net	$ 55	$ 19	$ 146
Forward purchases and sales contracts, net
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives, net	53	20	103
Commodity swap instruments
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives, net	(8)	0	44
Futures contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives, net	$ 10	$ (1)	$ (1)

Derivative Financial Instruments, Investments and Fair Value Measurements - Schedule of Offsetting Assets and Liabilities (Details) - Commodity derivatives - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Derivative Assets
Commodity derivatives	$ 1	$ 3
Less: Counterparty netting	(1)	(3)
Total net fair value of derivatives	0	0
Current Liabilities
Derivative Liabilities
Commodity derivatives	(5)	(11)
Less: Counterparty netting	1	3
Total net fair value of derivatives	$ (4)	$ (8)

Derivative Financial Instruments, Investments and Fair Value Measurements - Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Dividend income	$ 7	$ 0	$ 0
Unrealized gain	34	0	0
Investment income from marketable securities	$ 41	$ 0	$ 0

Derivative Financial Instruments, Investments and Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Prepaid expenses and other current assets (investments)	$ 173
Total Assets	173
Current portion of long-term debt	(2)
Long-term debt and finance lease obligations, net of current portion	(1,604)	$ (1,180)
Total Liabilities	(1,837)	(1,195)
Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities (commodity derivatives)	(17)	(8)
RFS obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities (RFS obligation)	(214)	(7)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Prepaid expenses and other current assets (investments)	173
Total Assets	173
Current portion of long-term debt	0
Long-term debt and finance lease obligations, net of current portion	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 (commodity derivatives)	0	0
Level 1 \| RFS obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities (RFS obligation)	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Prepaid expenses and other current assets (investments)	0
Total Assets	0
Current portion of long-term debt	(2)
Long-term debt and finance lease obligations, net of current portion	(1,604)	(1,180)
Total Liabilities	(1,837)	(1,195)
Level 2 \| Commodity derivatives
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities (commodity derivatives)	(17)	(8)
Level 2 \| RFS obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities (RFS obligation)	(214)	(7)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Prepaid expenses and other current assets (investments)	0
Total Assets	0
Current portion of long-term debt	0
Long-term debt and finance lease obligations, net of current portion	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 (commodity derivatives)	0	0
Level 3 \| RFS obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other current liabilities (RFS obligation)	$ 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 ($)	Dec. 31, 2020 USD ($) plan shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
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			$ 1,000,000	$ 4,000,000	$ 4,000,000
Cash paid to settle liability-classified awards upon vesting			$ 8,000,000	23,000,000	17,000,000
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			$ 10,000,000	$ 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) - Share-Based Awards - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Shares or Units
Non-vested at the beginning of the period (in shares)	1,052,480
Granted (in shares)	2,036,383
Vested (in shares)	(508,031)
Forfeited (in shares)	(126,191)
Non-vested at the end of the period (in shares)	2,454,641
Weighted-Average Grant-Date Fair Value (per share or unit)
Non-vested at the beginning of the period (in dollars per share)	$ 32.55
Granted (in dollars per share)	15.12
Vested (in dollars per share)	28.36
Forfeited (in dollars per share)	31.65
Non-vested at the end of the period (in dollars per share)	$ 19.01
Aggregate Intrinsic Value	$ 37	$ 36

Share-Based Compensation - Schedule of Share-based Compensation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	$ 4	$ 17	$ 16
Unrecognized Expense	40
Incentive Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	3	12	4
Unrecognized Expense	$ 26
Weighted-Average Remaining Years	2 years 10 months 24 days
Phantom Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	$ 1	5	8
Unrecognized Expense	$ 7
Weighted-Average Remaining Years	2 years 9 months 18 days
Performance awards \| CEO Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	$ 0	0	2
Unrecognized Expense	$ 7
Weighted-Average Remaining Years	1 year
Performance awards \| 2018 CEO Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses	$ 0	0	2
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	$ 0
Unrecognized Expense	$ 0
Weighted-Average Remaining Years	0 years

Income Taxes - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Aug. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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%
Receivable from the IRS and state jurisdictions		$ 44,000,000
Payable due to the IRS and certain state jurisdictions			$ 20,000,000
Valuation allowance		0	0
Unrecognized tax benefits which, if recognized, would impact the company's effective tax rate		13,000,000	15,000,000	$ 18,000,000
Unrecognized tax benefits netted with deferred tax asset carryforwards		8,000,000	10,000,000
Interest expense (benefit) recognized on uncertain tax positions		0	0	(1,000,000)
Liability for interest		1,000,000	0	0
Penalties recognized on uncertain tax positions		0	0	$ 0
State
Income Taxes [Line Items]
Tax credit carry-forwards		30,000,000
Unrecognized tax benefits reasonably possible to be recognized in next fiscal year		0
AEP
Income Taxes [Line Items]
Payable for state income taxes due to AEP		$ 0	$ 0
AEP \| 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%
Exchange Offer, CVR Refining Common Units for CVR Energy Common Stock
Income Taxes [Line Items]
Common stock exchanged in the exchange offer (in shares)	13,699,549
Exchange Offer, CVR Refining Common Units for CVR Energy Common Stock \| CVR Refining
Income Taxes [Line Items]
Number of shares tendered in exchange offer (in shares)	21,625,106

Income Taxes - Income Tax (Benefit) Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ (63)	$ 96	$ 31
State	(5)	5	(7)
Total current	(68)	101	24
Deferred:
Federal	(1)	3	39
State	(26)	25	16
Total deferred	(27)	28	55
Total income tax (benefit) expense	$ (95)	$ 129	$ 79

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Reconciliation of Total Income Tax (Benefit) Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Tax computed at federal statutory rate	$ (87)	$ 103	$ 94
State income taxes, net of federal tax benefit	(18)	29	12
State tax incentives, net of federal tax expense	(7)	(4)	(4)
Noncontrolling interest	13	4	(23)
Goodwill impairment	3	0	0
Other, net	1	(3)	0
Total income tax (benefit) expense	$ (95)	$ 129	$ 79

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Income Tax Effect of Temporary Differences (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax assets:
Personnel accruals	$ 2	$ 0
State tax credit carryforward, net	20	7
Net operating loss carryforward	9	0
Total gross deferred income tax assets	31	7
Deferred income tax liabilities:
Other	(3)	(1)
Total gross deferred income tax liabilities	(399)	(403)
Net deferred income tax liabilities	(368)	(396)
CVR Partners
Deferred income tax liabilities:
Unrealized gain	(9)	0
Investment in CVR Partners and CVR Refining	(67)	(61)
CVR Refining
Deferred income tax liabilities:
Investment in CVR Partners and CVR Refining	$ (320)	$ (341)

Income Taxes - Reconciliation of the Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of the unrecognized tax benefits
Balance, beginning of year	$ 22	$ 23	$ 29
Decrease based on prior year tax position	(2)	0	0
Increase in current year tax positions	0	2	0
Reductions related to expirations from statute of limitations	(3)	(3)	(6)
Balance, end of year	$ 17	$ 22	$ 23

Commitments and Contingencies - Unconditional Purchase Obligations (Details) $ in Millions	Dec. 31, 2020 USD ($)
Unconditional Purchase Obligations
2021	$ 127
2022	83
2023	81
2024	77
2025	73
Thereafter	325
Unconditional Purchase Obligations	$ 766

Commitments and Contingencies - Supply Commitments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Amounts purchased under supply agreements	$ 153	$ 167	$ 214

Commitments and Contingencies - Crude Oil Supply Agreement (Details) - Crude Oil Supply Agreement		12 Months Ended
	Aug. 31, 2012	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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		33.00%	36.00%	42.00%

Commitments and Contingencies - Contingencies (Details)		1 Months Ended	12 Months Ended
Commitments and Contingencies - Contingencies (Details)	Jan. 27, 2021 USD ($)	Jan. 31, 2020 claimant	Dec. 31, 2019 lawsuit plaintiff
CVR Energy, CVR Refining and General Partner, CVR Refining Holdings, IEP and Certain Directors and Affiliates \| Call Option Lawsuits
Loss Contingencies [Line Items]
Number of lawsuits filed \| lawsuit			9
CVR Energy, CVR Refining and General Partner, CVR Refining Holdings, IEP and Certain Directors and Affiliates \| Call Option Lawsuits \| Subsequent Event
Loss Contingencies [Line Items]
Indemnity Insurance, Coverage Limit \| $	$ 50,000,000
WRC and Others \| Small Refinery Exemption
Loss Contingencies [Line Items]
Number of refineries whose SREs were vacated under RFS program under the CAA \| claimant		3
WRC \| Small Refinery Exemption
Loss Contingencies [Line Items]
Number of ethanol and biofuels trade associations that filed lawsuit against the EPA \| plaintiff			4

Commitments and Contingencies - Clean Air Act Matter, Renewable Fuel Standards, and Environmental Remediation (Details) - EHS $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2020 USD ($) count	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Loss Contingencies [Line Items]
Environmental accruals	$ 11	$ 11	$ 6
Petroleum Segment
Loss Contingencies [Line Items]
Expense for compliance with RFS		190	43	$ 60
RFS obligation	$ 214	$ 214	$ 7
CRRM \| Clean Air Act Matter
Loss Contingencies [Line Items]
Number of counts asserted related to alleged violations \| count	9

Business Segments - Additional Information (Details)	12 Months Ended
Business Segments - Additional Information (Details)	Dec. 31, 2020 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	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 3,930	$ 6,364	$ 7,124
Operating (loss) income	(333)	580	532
Interest expense, net	(130)	(102)	(102)
Investment income from marketable securities	41	0	0
Other income, net	7	13	15
(Loss) income before income taxes	(415)	491	445
Depreciation and amortization	278	287	274
Capital expenditures	121	114	111
Total assets	3,978	3,905
Operating Segments \| Petroleum
Segment Reporting Information [Line Items]
Net sales	3,586	5,968	6,780
Operating (loss) income	(281)	574	544
Depreciation and amortization	202	202	196
Capital expenditures	90	89	89
Total assets	2,991	3,187
Operating Segments \| Nitrogen Fertilizer
Segment Reporting Information [Line Items]
Net sales	350	404	351
Operating (loss) income	(35)	27	6
Depreciation and amortization	76	80	72
Capital expenditures	16	20	19
Total assets	1,033	1,138
Other
Segment Reporting Information [Line Items]
Net sales	(6)	(8)	(7)
Operating (loss) income	(17)	(21)	(18)
Depreciation and amortization	0	5	6
Capital expenditures	15	5	$ 3
Total assets	$ (46)	$ (420)

Supplemental Cash Flow Information - Cash Flows Related to Taxes, Interest, Leases, and Capital Expenditures Included in Accounts Payable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental disclosures:
Cash (received for income taxes, net of payments) paid for income taxes, net of refunds	$ (2)	$ 69	$ 31
Cash paid for interest	113	104	103
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	17	16
Operating cash flows from finance leases	6	6
Financing cash flows from finance leases	5	5
Non-cash investing and financing activities:
Change in construction in progress included in accounts payable	$ (3)	$ (7)	$ 9

Supplemental Cash Flow Information - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 667	$ 652
Restricted cash	7	0
Cash, cash equivalents and restricted cash	$ 674	$ 652	$ 668	$ 482

Related Party Transactions - Expenses Incurred and Payments Made to Related Parties (Details) - USD ($) $ in Millions			12 Months Ended
	May 26, 2020	Mar. 09, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Cost of materials and other			$ 3,373	$ 4,851	$ 5,683
Dividends	$ 40	$ 80	121	306	238
Enable \| Joint Venture Transportation Agreement
Related Party Transaction [Line Items]
Cost of materials and other			11	12	8
IEP
Related Party Transaction [Line Items]
Dividends	$ 28	$ 57	85	218	179
AEP \| Tax Allocation Agreement
Related Party Transaction [Line Items]
Payments (received) made			$ 0	$ (3)	$ 12

Related Party Transactions - Narrative (Details)					3 Months Ended			12 Months Ended
Related Party Transactions - Narrative (Details)	May 26, 2020 USD ($) $ / shares	Mar. 09, 2020 USD ($) $ / shares	Feb. 04, 2020 USD ($)	Jul. 31, 2018	Dec. 31, 2020 sponsor $ / shares	Sep. 30, 2020 $ / shares	Jun. 30, 2020 $ / shares	Dec. 31, 2020 USD ($) sponsor $ / shares	Dec. 31, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares	Jun. 30, 2018 USD ($)
Related Party Transaction [Line Items]
Investment in certain marketable securities								$ 140,000,000	$ 0	$ 0
Dividends declared per share (in dollars per share) \| $ / shares					$ 0	$ 0	$ 0	$ 1.20	$ 3.05	$ 2.50
Dividends paid (in dollars per share) \| $ / shares	$ 0.40	$ 0.80						$ 1.20	$ 3.05	$ 2.50
Dividends paid	$ 40,000,000	$ 80,000,000						$ 121,000,000	$ 306,000,000	$ 238,000,000
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											$ 435,000,000
IEP
Related Party Transaction [Line Items]
Dividends paid	$ 28,000,000	$ 57,000,000						$ 85,000,000	$ 218,000,000	179,000,000
Ownership percentage held by controlling stockholder								71.00%	71.00%
CVR Partners
Related Party Transaction [Line Items]
Distributions declared (in dollars per share) \| $ / shares					$ 0			$ 0
Distributions paid (in dollars per share) \| $ / shares								$ 0	$ 4.00
Distributions paid									$ 45,000,000	0
CVR Partners \| CVR Energy
Related Party Transaction [Line Items]
Distributions paid									16,000,000
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
Crude Oil Transportation Services \| CRRM \| Midway JV
Related Party Transaction [Line Items]
Costs incurred								$ 17,000,000	$ 21,000,000	$ 18,000,000
Agency Agreement with IEP \| IEH
Related Party Transaction [Line Items]
Investment in certain marketable securities			$ 140,000,000

Related Party Transactions - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	May 26, 2020	Mar. 09, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Dividend Per Share (in dollars per share)	$ 0.40	$ 0.80	$ 1.20	$ 3.05	$ 2.50
Dividends Paid	$ 40	$ 80	$ 121	$ 306	$ 238
IEP
Related Party Transaction [Line Items]
Dividends Paid	28	57	85	$ 218	$ 179
Stockholders
Related Party Transaction [Line Items]
Dividends Paid	$ 12	$ 23	$ 35