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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2018	Jul. 24, 2018
Document and Entity Information
Entity Registrant Name	CVR ENERGY INC
Entity Central Index Key	0001376139
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		86,831,050
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents (including $286 and $223, respectively, of consolidated variable interest entities (VIEs))	$ 534	$ 482
Accounts receivable of VIEs, net of allowance for doubtful accounts of $1 at both periods	190	179
Due from parent	0	5
Inventories of VIEs	433	385
Prepaid expenses and other current assets (including $42 and $30, respectively, of VIEs)	54	43
Total current assets	1,211	1,094
Property, plant and equipment, net of accumulated depreciation (including $2,478 and $2,548, respectively, of VIEs)	2,494	2,572
Other long-term assets (including $135 and $137, respectively, of VIEs)	145	141
Total assets	3,850	3,807
Current liabilities:
Note payable and capital lease obligations of VIEs	2	2
Accounts payable (including $353 and $329, respectively, of VIEs)	356	334
Due to parent	16	0
Other current liabilities (including $130 and $181, respectively, of VIEs)	217	208
Total current liabilities	591	544
Long-term liabilities:
Long-term debt and capital lease obligations of VIEs, net of current portion	1,165	1,164
Deferred income taxes (including $1 of VIEs for both periods)	394	386
Other long-term liabilities (including $8 and $4, respectively, of VIEs)	13	9
Total long-term liabilities	1,572	1,559
Commitments and contingencies
CVR stockholders' equity:
Common stock $0.01 par value per share, 350,000,000 shares authorized, 86,929,660 shares issued	1	1
Additional paid-in-capital	1,197	1,197
Retained deficit	(313)	(277)
Treasury stock, 98,610 shares at cost	(2)	(2)
Total CVR stockholders' equity	883	919
Noncontrolling interest	804	785
Total equity	1,687	1,704
Total liabilities and equity	$ 3,850	$ 3,807

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents, consolidated VIEs	$ 534	$ 482
Prepaid expenses and other current assets, VIEs	54	43
Property, plant and equipment, net of accumulated depreciation, VIEs	2,494	2,572
Other long-term assets, VIEs	145	141
Current liabilities:
Accounts payable, VIEs	356	334
Other current liabilities, VIEs	217	208
Long-term liabilities:
Deferred income taxes, VIEs	394	386
Other long-term liabilities, VIEs	$ 13	$ 9
Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	350,000,000	350,000,000
Common stock, issued (in shares)	86,929,660	86,929,660
Treasury stock (in shares)	98,610	98,610
Variable Interest Entities
Current assets:
Cash and cash equivalents, consolidated VIEs	$ 286	$ 223
Accounts receivable of VIEs, allowance for doubtful accounts	1	1
Prepaid expenses and other current assets, VIEs	42	30
Property, plant and equipment, net of accumulated depreciation, VIEs	2,478	2,548
Other long-term assets, VIEs	135	137
Current liabilities:
Accounts payable, VIEs	353	329
Other current liabilities, VIEs	130	181
Long-term liabilities:
Deferred income taxes, VIEs	1	1
Other long-term liabilities, VIEs	$ 8	$ 4

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Net sales	$ 1,914	$ 1,434	$ 3,451	$ 2,942
Operating costs and expenses:
Cost of materials and other	1,570	1,229	2,809	2,450
Direct operating expenses (exclusive of depreciation and amortization as reflected below)	141	124	273	262
Depreciation and amortization	52	52	102	100
Cost of sales	1,763	1,405	3,184	2,812
Selling, general and administrative expenses (exclusive of depreciation and amortization as reflected below)	32	25	55	55
Depreciation and amortization	3	2	6	5
Loss on asset disposals	5	1	5	1
Operating income	111	1	201	69
Interest expense, net	(27)	(27)	(53)	(54)
Gain on derivatives, net	10	0	70	12
Other income, net	2	0	3	0
Income (loss) before income tax expense	96	(26)	221	27
Income tax expense (benefit)	17	(7)	38	8
Net income (loss)	79	(19)	183	19
Less: Net income (loss) attributable to noncontrolling interest	28	(8)	66	7
Net income (loss) attributable to CVR Energy stockholders	$ 51	$ (11)	$ 117	$ 12
Earnings per share:
Basic and diluted earnings per share (in dollars per share)	$ 0.59	$ (0.12)	$ 1.35	$ 0.13
Dividends declared per share (in dollars per share)	$ 0.75	$ 0.50	$ 1.25	$ 1.00
Weighted-average common shares outstanding:
Basic and diluted (in shares)	86.8	86.8	86.8	86.8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income	$ 183	$ 19
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	108	105
Deferred income taxes expense	8	7
Share-based compensation	12	7
Other non-cash items	5	4
Changes in assets and liabilities:
Current assets and liabilities	(92)	100
Non-current assets and liabilities	5	0
Net cash provided by operating activities	229	242
Cash flows from investing activities:
Capital expenditures	(42)	(58)
Other investing activities	1	(1)
Net cash used in investing activities	(41)	(59)
Cash flows from financing activities:
Dividends to CVR Energy's stockholders	(87)	(87)
Other financing activities	(1)	0
Net cash used in financing activities	(136)	(89)
Net increase in cash and cash equivalents	52	94
Cash and cash equivalents, beginning of period	482	736
Cash and cash equivalents, end of period	534	830
CVR Refining
Cash flows from financing activities:
Distributions to noncontrolling interest holders	(48)	0
CVR Partners
Cash flows from financing activities:
Distributions to noncontrolling interest holders	$ 0	$ (2)

Organization and Basis of Presentation	6 Months Ended
Organization and Basis of Presentation	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	(1) Organization and Basis of Presentation 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 ("CVR Refining") and CVR Partners, LP ("CVR Partners"). CVR Refining is a refiner that does not have crude oil exploration or production operations (an "independent petroleum refiner") and is a marketer of high value transportation fuels. CVR Partners produces and markets nitrogen fertilizers in the form of ammonia and urea ammonium nitrate ("UAN"). Ammonia is a direct application fertilizer and is primarily used as a building block for other nitrogen products for industrial applications and finished fertilizer products. UAN is an aqueous solution of urea and ammonium nitrate. The Company's operations include two business segments: the petroleum segment and the nitrogen fertilizer segment. CVR's common stock is listed on the New York Stock Exchange ("NYSE") under the symbol "CVI." As of June 30, 2018, Icahn Enterprises L.P. ("IEP") and its affiliates owned approximately 82% of the Company's outstanding shares. On May 28, 2018, the board of directors of the Company declared a cash dividend for the second quarter of 2018 to the Company's stockholders of $0.75 per share, or $65 million in the aggregate. The dividend will be paid on August 13, 2018 to stockholders of record at the close of business on August 6, 2018. IEP will receive $53 million in respect of its 82% ownership interest in the Company's shares. On June 18, 2018, CVR Energy commenced an offer to exchange up to 37,154,236 common units of CVR Refining for shares of CVR Energy common stock at an exchange ratio of one common unit for 0.6335 shares of CVR Energy common stock. The offer and withdrawal rights will expire on July 27, 2018 at 5:00 pm, unless the offer is extended by CVR Energy. CVR Refining, LP As of June 30, 2018, public security holders held approximately 34% of CVR Refining's outstanding common units (including units owned by affiliates of IEP, representing approximately 3.9% of CVR Refining's outstanding common units), and CVR Refining Holdings, LLC (“CVR Refining Holdings”), a wholly owned subsidiary of CVR Energy, held approximately 66% of CVR Refining's outstanding common units. In addition, CVR Refining Holdings owns 100% of CVR Refining's general partner, CVR Refining GP, LLC, which holds a non-economic general partner interest. The noncontrolling interest reflected on the Condensed Consolidated Balance Sheets of CVR is impacted by the net income of, and distributions from, CVR Refining. On July 25, 2018, the board of directors of CVR Refining's general partner declared a cash distribution for the second quarter of 2018 to CVR Refining's unitholders of $0.66 per common unit, or $97 million in aggregate. The cash distribution will be paid on August 13, 2018 to unitholders of record at the close of business on August 6, 2018. The Company will receive $64 million in respect of its CVR Refining common units. CVR Partners, LP As of June 30, 2018, public security holders held approximately 66% of CVR Partner's outstanding common units, and Coffeyville Resources, LLC ("CRLLC"), a wholly-owned subsidiary of CVR Energy, held approximately 34% of CVR Refining's outstanding common units. In addition, CRLLC owns 100% of CVR Partner's general partner, CVR GP, LLC, which holds a non-economic general partner interest. The noncontrolling interest reflected on the Condensed Consolidated Balance Sheets of CVR is impacted by the net income of, and distributions from, CVR Partners. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC"). These condensed consolidated financial statements should be read in conjunction with the December 31, 2017 audited consolidated financial statements and notes thereto included in CVR Energy's Annual Report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on February 26, 2018 the (the "2017 Form 10-K"). Our condensed consolidated financial statements include the consolidated results of CVR Refining and CVR Partners, which are defined as variable interest entities. In the opinion of the Company's management, the accompanying condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) that are necessary to fairly present the financial position of the Company as of June 30, 2018 and December 31, 2017, the results of operations of the Company for the three and six month periods ended June 30, 2018 and 2017 and the cash flows of the Company for the six month periods ended June 30, 2018 and 2017. Certain information has been reclassified to present historical information in a manner consistent with current presentation. The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Results of operations and cash flows for the interim periods presented are not necessarily indicative of the results that will be realized for the year ending December 31, 2018 or any other interim or annual period.

Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Recent Accounting Pronouncements

(2) Recent Accounting Pronouncements

Adoption of New Revenue Standard

On January 1, 2018, the Company adopted FASB ASC Topic 606, "Revenue from Contracts with Customers" (“ASC 606”) using the modified retrospective method applied to contracts which were not completed as of January 1, 2018. The standard was applied prospectively and the comparative information for 2017 has not been restated and continues to be reported under the accounting standards in effect for the period. The Company did not identify any material differences in its existing revenue recognition methods that require modification under the new standard and, as such, a cumulative effect adjustment of applying the standard using the modified retrospective method was not recorded.

Impact on Financial Statements

The Company identified presentation changes associated with contracts requiring customer prepayment prior to delivery and the need to gross up certain fees collected from customers. Prior to adoption of ASC 606, deferred revenue was recorded by CVR Partners upon customer prepayment. Under the new revenue standard, a receivable and associated deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional. The adoption of ASC 606 resulted in a $21 million increase to deferred revenue and accounts receivable as of January 1, 2018. After the effect of adoption of the new revenue standard, deferred revenue and accounts receivable of CVR Partners were $34 million and $31 million, respectively, as of January 1, 2018. Additionally, fees collected from certain customers were previously recorded as a reduction to cost of materials and other. The particular fee, the Oil Spill Liability Tax, relates to taxes imposed on refineries as part of the crude oil procurement process, is charged to certain of CVR Refining’s customers on product sales and is required under the new standard to be included in the transaction price. The impact of the change in presentation was an increase of $1 million to net sales and cost of materials and other for the three and six months ended June 30, 2018.

The following tables display the effect of the changes to the Condensed Consolidated Balance Sheet as of June 30, 2018 for the adoption of ASC 606. The Company’s Condensed Consolidated Statement of Cash Flows was not impacted due to the adoption of ASC 606 for the three and six months ended June 30, 2018.



	June 30, 2018
Balance Sheet	As Reported		Balances Without Adoption of ASC 606		Effect of Change
			(in millions)
Assets
Accounts Receivable	$	190	$	180	$	10

Liabilities
Deferred Revenue	$	11	$	1	$	10

New Accounting Standards Issued But Not Yet Implemented

In February 2016, the FASB issued ASU No. 2016-02, “Leases” (“ASU 2016-02”), creating a new topic, FASB ASC Topic 842, "Leases", which supersedes lease requirements in FASB ASC Topic 840, "Leases". The new standard revises accounting for operating leases by a lessee, among other changes, and requires a lessee to recognize a liability related to future lease payments and an asset representing its right to use the underlying asset for the lease term in the balance sheet. Quantitative and qualitative disclosures, including disclosures regarding significant judgments made by management, will be required. The standard is effective for the first interim and annual periods beginning after December 15, 2018, with early adoption permitted. At adoption, ASU 2016-02 will be applied using the modified retrospective application method and allows for certain practical expedients. The Company has begun its assessment and implementation plan for its planned adoption effective January 1, 2019. The Company expects the impact of the new lease standard to be material with respect to its balance sheet and further expect impacts to disclosures and changes in internal lease accounting processes.

Revenue

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue

(3) Revenue

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



	Three Months Ended June 30, 2018
	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
	(in millions)
Major Product
Gasoline	$	896	$	—	$	—		$	896
Distillates (a)	832		—		—			832
Ammonia	—		28		—			28
UAN	—		51		—			51
Urea products	—		5		—			5
Freight revenue	6		7		—			13
Other (b)	89		2		(3		)	88
Revenue from product sales	1,823		93		(3		)	1,913

Other revenue (c)	1		—		—			1
Total revenue	$	1,824	$	93	$	(3	)	$	1,914



	Six Months Ended June 30, 2018
	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
	(in millions)
Major Product
Gasoline	$	1,608	$	—	$	—		$	1,608
Distillates (a)	1,484		—		—			1,484
Ammonia	—		40		—			40
UAN	—		104		—			104
Urea products	—		10		—			10
Freight revenue	11		15		—			26
Other (b)	176		4		(4		)	176
Revenue from product sales	3,279		173		(4		)	3,448

Other revenue (c)	3		—		—			3
Total revenue	$	3,282	$	173	$	(4	)	$	3,451


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

(b)

Other product sales primarily include crude oil, feedstocks and asphalt sales attributable to the petroleum segment and nitric acid and carbon dioxide sales attributable to the nitrogen fertilizer segment. Feedstocks are petroleum products, such as crude oil and natural gas liquids, that are processed and blended into refined products, such as gasoline, diesel fuel and jet fuel, during the refining process.


(c)	Other revenue consists primarily of Cushing, OK storage tank lease revenue.

Petroleum

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

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

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

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

Freight revenue recognized by the petroleum segment is primarily tariff and line loss charges rebilled to customers to reimburse the petroleum segment for expenses incurred from a pipeline operator. An offsetting expense is included in cost of materials and other.

Nitrogen Fertilizer

The nitrogen fertilizer segment sells its products on a wholesale basis under a contract or by purchase order. The nitrogen fertilizer segment's contracts with customers, including purchase orders, generally contain fixed pricing and most have terms of less than one year. The nitrogen fertilizer segment recognizes revenue at the point in time at which the customer obtains control of the product, which is generally upon delivery and acceptance by the customer. The customer acceptance point is stated in the contract and may be at one of the nitrogen fertilizer segment’s manufacturing facilities, at one of the nitrogen fertilizer segment’s off-site loading facilities, or at the customer's designated facility. Freight revenue recognized by the nitrogen fertilizer segment represents the pass-through finished goods delivery costs incurred prior to customer acceptance and is reimbursed by customers. An offsetting expense is included in cost of materials and other. Qualifying taxes collected from customers and remitted to governmental authorities are not included in reported revenues.

Depending on the product sold and the type of contract, payments from customers are generally either due prior to delivery or within 15 to 30 days of product delivery.

The nitrogen fertilizer segment generally provides no warranty other than the implicit promise that goods delivered are free of liens and encumbrances and meet the agreed upon specifications. Product returns are rare, and as such, the nitrogen fertilizer segment does not record a specific warranty reserve or consider activities related to such warranty, if any, to be a separate performance obligation.

The nitrogen fertilizer segment has an immaterial amount of variable consideration for contracts with an original duration of less than a year. A small portion of the nitrogen fertilizer partnership's revenue includes contracts extending beyond one year, some of which contain variable pricing in which the majority of the variability is attributed to the market-based pricing. The nitrogen fertilizer segment's contracts do not contain a significant financing component.

The nitrogen fertilizer segment has certain fee-based revenue, included in other revenue in the table above, that is recognized based on the net amount of the proceeds received, consistent with prior accounting practice.

Transaction price allocated to remaining performance obligations

As of June 30, 2018, CVR Partners had approximately $13 million of remaining performance obligations for contracts with an original expected duration of more than one year. CVR Partners expects to recognize approximately 56% of these performance obligations as revenue by the end of 2019, an additional 22% by 2020 and the remaining balance thereafter. CVR Partners has elected to not disclose the amount of transaction price allocated to remaining performance obligations for contracts with an original expected duration of less than one year. CVR Partners has elected to not disclose variable consideration allocated to wholly unsatisfied performance obligations that are based on market prices that have not yet been determined.

Contract balances

The CVR Partners' deferred revenue is a contract liability that primarily relates to fertilizer sales contracts requiring customer prepayment prior to product delivery to guarantee a price and supply of nitrogen fertilizer. Deferred revenue is recorded at the point in time in which a prepaid contract is legally enforceable and the associated right to consideration is unconditional prior to transferring product to the customer. An associated receivable is recorded for uncollected prepaid contract amounts. Contracts requiring prepayment are generally short-term in nature and, as discussed above, revenue is recognized at the point in time in which the customer obtains control of the product.

A summary of CVR Partners' deferred revenue activity during the six months ended June 30, 2018 is presented below:



	Six Months Ended June 30,
	(in millions)
Balance at January 1, 2018	$	34
Add:
New prepay contracts entered into during the period	14
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	32
Revenue recognized related to contracts entered into during the period	5
Other changes	—
Balance at June 30, 2018	$	11

Share-Based Compensation

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

(4) Share-Based Compensation

There have been no material new awards or changes in existing awards during 2018. A summary of share-based compensation expense during the three and six months ended June 30, 2018 and 2017 are presented below:



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
	(in millions)
CVR Energy LTIP
Performance Unit Award	$	1	$	1	$	2	$	2
CVR Partners LTIP
Phantom Units Award	1		—		1		—
CVR Refining LTIP
Phantom Units Award	6		1		7		2
Incentive Unit Awards	3		1		2		3
Total Share-Based Compensation Expense	$	11	$	3	$	12	$	7

Inventories

6 Months Ended

Jun. 30, 2018

Inventory Disclosure [Abstract]

Inventories

(5) Inventories



	June 30, 2018		December 31, 2017
	(in millions)
Raw materials and precious metals	$	144	$	114
In-process inventories	29		22
Finished goods	185		172
Parts and supplies	75		77
Total Inventories	$	433	$	385

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

(6) Property, Plant and Equipment



	June 30, 2018		December 31, 2017
	(in millions)
Land and improvements	$	44	$	48
Buildings	82		83
Machinery and equipment	3,750		3,734
Other	150		138
	4,026		4,003
Less: Accumulated depreciation	1,532		1,431
Total property, plant and equipment, net	$	2,494	$	2,572

Capitalized interest recognized as a reduction in interest expense was nominal for the three and six months ended June 30, 2018 and 2017.

Long-Term Debt

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Long-Term Debt

(7) Long-Term Debt



Debt Balance, Net of Current Maturities and Unamortized Issuance Costs
	June 30, 2018			December 31, 2017
	(in millions)
6.5% Senior Notes due 2022 (a)	$	500		$	500
9.25% Senior Secured Notes due 2023 (b)	645			645
6.5% Senior Notes due 2021 (b)	2			2
Capital lease obligations	44			45
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	1,191			1,192
Less:
Unamortized debt issuance cost and debt discount	(24		)	(26		)
Current portion of capital lease obligations	(2		)	(2		)
Long-term debt, net of current portion	$	1,165		$	1,164


(a)	The estimated fair value of total long-term debt outstanding was approximately $510 million as of June 30, 2018.


(b)	The estimated fair value of total long-term debt outstanding was approximately $667 million as of June 30, 2018.




	Total Capacity		Amount Borrowed as of June 30, 2018		Outstanding Letters of Credit		Available Capacity as of June 30, 2018		Maturity Date

Amended and Restated Asset Based (ABL) Credit Facility (c)	$	400	$	—	$	6	$	394	November 14, 2022
Asset Based (ABL) Credit Facility (d)	50		—		—		50		September 30, 2021


(c)	Loans under the asset based credit facility initially bear interest at an annual rate equal to (i) 1.50% plus LIBOR or (ii) 0.50% plus a base rate, subject to quarterly excess availability.


(d)	Loans under the asset based credit facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter's excess availability.

The Company is in compliance with all covenants of the ABL credit facilities and the senior notes as of June 30, 2018.

Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2018

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

(8) Supplemental Cash Flow Information

Cash flows related to income taxes, interest, construction in process and dividends were as follows:



	Six Months Ended June 30,
	2018		2017
	(in millions)
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$	8	$	10
Cash paid for interest	52		53
Non-cash investing and financing activities:
Construction in progress additions included in accounts payable	$	8	$	9
Change in accounts payable related to construction in progress additions	—		(7		)
Landlord incentives for leasehold improvements	—		1
Dividend accrual	65		—

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(9) Commitments and Contingencies There have been no material changes from our commitments and contingencies outlined in our 2017 Form 10-K. In the ordinary course of business, we 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 we accrue liabilities for these matters if we have determined that it is probable a loss has been incurred and the loss can be reasonably estimated. While it is not possible to predict the outcome of such proceedings, if one or more of them were decided against us, we believe there would be no material impact on our consolidated financial statements. Crude Oil Supply Agreement On August 31, 2012, Coffeyville Resources Refining and Marketing, LLC ("CRRM"), a wholly-owned subsidiary of CVR Refining, and Vitol Inc. ("Vitol") entered into an Amended and Restated Crude Oil Supply Agreement (as amended, the "Vitol Agreement"). Under the Vitol Agreement, Vitol supplies the petroleum business with crude oil and intermediation logistics, which helps to reduce CVR Refining's inventory position and mitigate crude oil pricing risk. The Vitol Agreement will automatically renew 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 the expiration of any Renewal Term. The Vitol Agreement currently extends through December 31, 2019. Renewable Fuel Standards CVR Refining is subject to the Renewable Fuel Standard ("RFS") of the Environmental Protection Agency ("EPA"), which requires refiners to either blend "renewable fuels" in with their transportation fuels or purchase renewable fuel credits, known as renewable identification numbers ("RINs"), in lieu of blending. Due to mandates in the RFS requiring increasing volumes of renewable fuels to replace petroleum products in the U.S. transportation fuel market, there may be a decrease in demand for petroleum products. CVR Refining is not able to blend the substantial majority of its transportation fuels and has to purchase RINs on the open market, as well as waiver credits for cellulosic biofuels from the EPA, in order to comply with the RFS. The price of RINs has been extremely volatile over the last year. The cost of RINs is dependent upon a variety of factors, which include the availability of RINs for purchase, the price at which RINs can be purchased, transportation fuel production levels, the mix of the petroleum business' petroleum products, as well as the fuel blending performed at its refineries and downstream terminals, all of which can vary significantly from period to period. The net cost of RINs for the three months ended June 30, 2018 and 2017 was $50 million and $106 million, respectively. The net cost of RINs for the six months ended June 30, 2018 and 2017 was $27 million and $99 million, respectively. The net costs of RINs was a reduction to cost of materials and other in the Condensed Consolidated Statements of Operations. RINs expense includes the purchased cost of RINs, the impact of recognizing CVR Refining's uncommitted biofuel blending obligation at fair value based on market prices at each reporting date and is reduced by the valuation change of RINs purchases in excess of CVR Refining's RFS obligation as of the reporting date. During the three and six months ended June 30, 2018, the net cost of RINs was favorably impacted by a reduction in CVR Refining's RFS obligation and reduced market pricing. As of June 30, 2018 and December 31, 2017, CVR Refining's biofuel blending obligation was approximately $16 million and $28 million, respectively, which was recorded in other current liabilities on the Condensed Consolidated Balance Sheets. CVR Refining recorded a RINs asset within prepaid and other current assets in the Condensed Consolidated Balance Sheet of $14 million, representing excess RINs primarily due to a reduction in its RFS obligation during the first quarter of 2018. Litigation The U.S. Attorney's office for the Southern District of New York contacted CVR Energy in September 2017 seeking production of information pertaining to CVR Refining's, CVR Energy's and Mr. Carl C. Icahn's activities relating to the Renewable Fuel Standard ("RFS") and Mr. Icahn's role as an advisor to the President. CVR Energy is cooperating with the request and is providing information in response to the subpoena. The U.S. Attorney's office has not made any claims or allegations against CVR Energy or Mr. Icahn. CVR Energy maintains a strong compliance program and, while no assurances can be made, CVR Energy does not believe this inquiry will have a material impact on its business, financial condition, results of operations or cash flows. Affiliate Pension Obligations Mr. Carl C. Icahn, through certain affiliates, owns 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. In addition, the failure to pay these pension obligations when due may result in the creation of liens in favor of the pension plan or the Pension Benefit Guaranty Corporation ("PBGC") against the assets of each member of the controlled group. As a result of the more than 80% ownership interest in CVR Energy by Mr. Icahn's affiliates, the Company is subject to the pension liabilities of all entities in which Mr. Icahn has 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. All the minimum funding requirements of the Code and the Employee Retirement Income Security Act of 1974, as amended by the Pension Protection Act of 2006, for these plans have been met as of June 30, 2018 and December 31, 2017. If the ACF and Federal-Mogul plans were voluntarily terminated, they would be collectively underfunded by approximately $435 million and $424 million as of June 30, 2018 and December 31, 2017, respectively. These results are based on the most recent information provided by Mr. Icahn's affiliates based on information from the plans' actuaries. These liabilities could increase or decrease, depending on a number of factors, including future changes in benefits, investment returns, and the assumptions used to calculate the liability. 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. In addition, other entities now or in the future within the controlled group that includes CVR Energy may have pension plan obligations that are, or may become, underfunded, and the Company would be liable for any failure of such entities to make ongoing pension contributions or to pay the unfunded liabilities upon a termination of such plans. The current underfunded status of the ACF and Federal-Mogul pension plans requires such entities to notify the PBGC of certain "reportable events," such as if CVR Energy were to cease to be a member of the controlled group, or if CVR Energy makes certain extraordinary dividends or stock redemptions. The obligation to report could cause the Company to seek to delay or reconsider the occurrence of such reportable events. Based on the contingent nature of potential exposure related to these affiliate pension obligations, no liability has been recorded in the condensed consolidated financial statements.

Fair Value Measurements

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

(10) Fair Value Measurements

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

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


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


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


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

The following tables set forth the assets and liabilities measured at fair value on a recurring basis, by input level, as of June 30, 2018 and December 31, 2017:



	June 30, 2018
Location and Description	Level 1		Level 2			Level 3		Total
	(in millions)
Cash equivalents	$	50	$	—		$	—	$	50
Other current assets (investments)	—		—			—		—
Other current assets (commodity derivatives)	—		1			—		1
Total Assets	$	50	$	1		$	—	$	51
Other current liabilities (commodity derivatives)	$	—	$	(27	)	$	—	$	(27	)
Other current liabilities (biofuel blending obligation)	—		(11		)	—		(11		)
Total Liabilities	$	—	$	(38	)	$	—	$	(38	)



	December 31, 2017
Location and Description	Level 1		Level 2			Level 3		Total
	(in millions)
Cash equivalents	$	15	$	—		$	—	$	15
Other current assets (investments)	—		—			—		—
Total Assets	$	15	$	—		$	—	$	15
Other current liabilities (commodity derivatives)	$	—	$	(64	)	$	—	$	(64	)
Other long-term liabilities (biofuel blending obligation)	—		(1		)	—		(1		)
Total Liabilities	$	—	$	(65	)	$	—	$	(65	)

As of June 30, 2018 and December 31, 2017, the only financial assets and liabilities that are measured at fair value on a recurring basis are the Company's cash equivalents, investments, derivative instruments and the uncommitted biofuel blending obligation. Additionally, the fair value of the Company's debt issuances is disclosed in Note 7 ("Long-Term Debt").

CVR Refining's commodity derivative contracts and the uncommitted biofuel blending 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 and liabilities between any of the above levels during the six months ended June 30, 2018.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

(11) Derivative Financial Instruments

CVR Refining and CVR Partners 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, CVR Refining from time to time enters into various commodity derivative transactions. CVR Refining does not apply hedge accounting with respect to derivative instruments held. Gains or losses related to the change in fair value and periodic settlements of these derivative instruments are classified as gain (loss) on derivatives, net in the Condensed Consolidated Statements of Operations.

CVR Refining has adopted accounting standards which impose extensive record-keeping requirements in order to designate a derivative financial instrument as a hedge. CVR Refining holds derivative instruments, such as exchange-traded crude oil futures and certain over-the-counter forward swap agreements, which it believes provide an economic hedge on future transactions, but such instruments are not designated as hedges under GAAP. There are no premiums paid or received at inception of the derivative contracts and upon settlement.

CVR Refining enters into commodity swap contracts in order to fix the margin on a portion of future production. Additionally, CVR Refining may enter into price and basis swaps in order to fix the price on a portion of its commodity purchases and product sales. The physical volumes are not exchanged and these contracts are net settled with cash. The contract fair value of the commodity swaps is reflected on the Condensed Consolidated Balance Sheets with changes in fair value currently recognized in the Condensed Consolidated Statements of Operations. Quoted prices for similar assets or liabilities in active markets (Level 2) are considered to determine the fair values for the purpose of marking to market the hedging instruments at each period end. A change of $1.00 per barrel in the fair value of the benchmark crude or product basis would result in an increase or decrease in the related fair value of the commodity instruments and forward purchase and sale commitments of $2 million.



Gain (Loss) on Derivatives
	Three Months Ended June 30,					Six Months Ended June 30,
	2018			2017		2018			2017
	(in millions)
Realized gain on commodity derivatives	$	19		$	—	$	33		$	1
Realized loss on margin account	(2		)	—		(2		)	—
Total realized gain on derivatives, net	$	17		$	—	$	31		$	1



Open Commodity Derivative Instruments
	June 30, 2018	December 31, 2017
	(in millions of barrels)
Commodity Swap Instruments:
2-1-1 Crack spreads	—	7
Distillate Crack spreads	—	4
Gasoline Crack spreads	—	4
Purchase and Sale Commitments:
Canadian crude oil	4	6



Fair Value of Commodity Derivatives
	June 30, 2018			December 31, 2017
	(in millions)
Net unrealized gain (loss) on outstanding commodity derivative contracts	$	(26	)	$	(64	)

Offsetting Assets and Liabilities

The commodity swap agreements discussed above include multiple derivative positions with a number of counterparties for which CVR Refining has entered into agreements governing the nature of the derivative transactions. Each of the counterparty agreements provides for the right to setoff each individual derivative position to arrive at the net receivable due from the counterparty or payable owed by CVR Refining. As a result of the right to setoff, CVR Refining's recognized assets and liabilities associated with the outstanding commodity swap derivative positions have been presented net in the Condensed Consolidated Balance Sheets. The tables below outline the gross amounts of the recognized assets and liabilities and the gross amounts offset in the Condensed Consolidated Balance Sheets for the various types of open derivative positions at CVR Refining.

The offsetting assets and liabilities for CVR Refining's derivatives as of June 30, 2018 and December 31, 2017 are recorded as current assets and current liabilities in prepaid expenses and other current assets and accrued expenses and other current liabilities, respectively, in the Condensed Consolidated Balance Sheets as follows:



	As of June 30, 2018
Description	Gross Current Assets		Gross Amounts Offset			Net Current Assets Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	6	$	(5	)	$	1	$	—	$	1
Total	$	6	$	(5	)	$	1	$	—	$	1

	As of June 30, 2018
Description	Gross Current Liabilities		Gross Amounts Offset			Net Current Liabilities Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	32	$	(5	)	$	27	$	—	$	27
Total	$	32	$	(5	)	$	27	$	—	$	27



	As of December 31, 2017
Description	Gross Current Assets		Gross Amounts Offset			Net Current Assets Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	7	$	(7	)	$	—	$	—	$	—
Total	$	7	$	(7	)	$	—	$	—	$	—

	As of December 31, 2017
Description	Gross Current Liabilities		Gross Amounts Offset			Net Current Liabilities Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	71	$	(7	)	$	64	$	—	$	64
Total	$	71	$	(7	)	$	64	$	—	$	64

Related Party Transactions

6 Months Ended

Jun. 30, 2018

Related Party Transactions

(12) Related Party Transactions

Icahn Enterprises

The following is a summary of dividends paid to the Company's stockholders, including IEP, for the respective quarters to which the distributions relate:



	December 31, 2017		March 31, 2018		Total Dividends Paid in 2018
	(in millions, except per unit data)
Amount paid to IEP	$	36	$	36	$	72
Amount paid to public stockholders	7		8		15
Total amount paid	$	43	$	44	$	87

Per common share	$	0.50	$	0.50	$	1.00
Shares outstanding	86.8		86.8

There have been no new related party agreements entered into during 2018 or changes to existing related party agreements disclosed in the 2017 Form 10-K. Activity associated with the Company's related party arrangements for the three and six month periods ending June 30, 2018 and 2017 is summarized below:



Expenses from related parties
	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
	(in millions)
Payments made
Tax Allocation Agreement:
American Entertainment Properties Corporation	$	8	$	10	$	8	$	10



Amounts due to/from related parties
	June 30, 2018			December 31, 2017
	(in millions)
Accounts Receivable (Payable)
Tax Allocation Agreement:
American Entertainment Properties Corporation ("AEPC")	$	(16	)	$	5

Tax Allocation Agreement

CVR is a member of the consolidated federal tax group of American Entertainment Properties Corporation ("AEPC"), an affiliate of IEP, and is party to a tax allocation agreement with AEPC (the "Tax Allocation Agreement"). The Tax Allocation Agreement provides that AEPC will pay all consolidated federal income taxes on behalf of the consolidated tax group. CVR is required to make payments to AEPC in an amount equal to the tax liability, if any, that it would have paid if it were to file as a consolidated group separate and apart from AEPC.

Segments

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Segments

(13) Segments

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

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



	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
	(in millions)
Net sales
Petroleum	$	1,824		$	1,338		$	3,282		$	2,762
Nitrogen Fertilizer	93			98			173			183
Other	(3		)	(2		)	(4		)	(3		)
Total	$	1,914		$	1,434		$	3,451		$	2,942
Operating income (loss)
Petroleum	$	117		$	(7	)	$	214		$	59
Nitrogen Fertilizer	—			12			(4		)	18
Other	(6		)	(4		)	(9		)	(8		)
Total operating income	111			1			201			69
Interest expense, net	(27		)	(27		)	(53		)	(54		)
Gain on derivatives, net	10			—			70			12
Other income, net	2			—			3			0
Earnings before income taxes	$	96		$	(26	)	$	221		$	27
Depreciation and amortization
Petroleum	$	33		$	32		$	67		$	66
Nitrogen Fertilizer	20			20			37			35
Other	2			2			4			4
Total	$	55		$	54		$	108		$	105
Capital expenditures
Petroleum	$	16		$	28		$	32		$	48
Nitrogen Fertilizer	6			4			9			9
Other	—			1			1			1
Total	$	22		$	33		$	42		$	58

The following table summarizes total assets by segment:



	As of June 30, 2018		As of December 31, 2017
	(in millions)
Total assets
Petroleum	$	2,366	$	2,270
Nitrogen Fertilizer	1,200		1,234
Other	284		303
Total	$	3,850	$	3,807

Organization and Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC"). These condensed consolidated financial statements should be read in conjunction with the December 31, 2017 audited consolidated financial statements and notes thereto included in CVR Energy's Annual Report on Form 10-K for the year ended December 31, 2017, which was filed with the SEC on February 26, 2018 the (the "2017 Form 10-K"). Our condensed consolidated financial statements include the consolidated results of CVR Refining and CVR Partners, which are defined as variable interest entities.

In the opinion of the Company's management, the accompanying condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments) that are necessary to fairly present the financial position of the Company as of June 30, 2018 and December 31, 2017, the results of operations of the Company for the three and six month periods ended June 30, 2018 and 2017 and the cash flows of the Company for the six month periods ended June 30, 2018 and 2017. Certain information has been reclassified to present historical information in a manner consistent with current presentation.

The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Results of operations and cash flows for the interim periods presented are not necessarily indicative of the results that will be realized for the year ending December 31, 2018 or any other interim or annual period.

Recent Accounting Pronouncements

Adoption of New Revenue Standard

Impact on Financial Statements



	June 30, 2018
Balance Sheet	As Reported		Balances Without Adoption of ASC 606		Effect of Change
			(in millions)
Assets
Accounts Receivable	$	190	$	180	$	10

Liabilities
Deferred Revenue	$	11	$	1	$	10

New Accounting Standards Issued But Not Yet Implemented

Recent Accounting Pronouncements (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Effect of the change to Condensed Consolidated Balance Sheet



	June 30, 2018
Balance Sheet	As Reported		Balances Without Adoption of ASC 606		Effect of Change
			(in millions)
Assets
Accounts Receivable	$	190	$	180	$	10

Liabilities
Deferred Revenue	$	11	$	1	$	10

Revenue (Tables)

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major product

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



	Three Months Ended June 30, 2018
	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
	(in millions)
Major Product
Gasoline	$	896	$	—	$	—		$	896
Distillates (a)	832		—		—			832
Ammonia	—		28		—			28
UAN	—		51		—			51
Urea products	—		5		—			5
Freight revenue	6		7		—			13
Other (b)	89		2		(3		)	88
Revenue from product sales	1,823		93		(3		)	1,913

Other revenue (c)	1		—		—			1
Total revenue	$	1,824	$	93	$	(3	)	$	1,914



	Six Months Ended June 30, 2018
	Petroleum		Nitrogen Fertilizer		Other / Eliminations			Consolidated
	(in millions)
Major Product
Gasoline	$	1,608	$	—	$	—		$	1,608
Distillates (a)	1,484		—		—			1,484
Ammonia	—		40		—			40
UAN	—		104		—			104
Urea products	—		10		—			10
Freight revenue	11		15		—			26
Other (b)	176		4		(4		)	176
Revenue from product sales	3,279		173		(4		)	3,448

Other revenue (c)	3		—		—			3
Total revenue	$	3,282	$	173	$	(4	)	$	3,451


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

(b)


(c)	Other revenue consists primarily of Cushing, OK storage tank lease revenue.

Summary of deferred revenue activity

A summary of CVR Partners' deferred revenue activity during the six months ended June 30, 2018 is presented below:



	Six Months Ended June 30,
	(in millions)
Balance at January 1, 2018	$	34
Add:
New prepay contracts entered into during the period	14
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	32
Revenue recognized related to contracts entered into during the period	5
Other changes	—
Balance at June 30, 2018	$	11

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share-based compensation expense

A summary of share-based compensation expense during the three and six months ended June 30, 2018 and 2017 are presented below:



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
	(in millions)
CVR Energy LTIP
Performance Unit Award	$	1	$	1	$	2	$	2
CVR Partners LTIP
Phantom Units Award	1		—		1		—
CVR Refining LTIP
Phantom Units Award	6		1		7		2
Incentive Unit Awards	3		1		2		3
Total Share-Based Compensation Expense	$	11	$	3	$	12	$	7

Inventories (Tables)

6 Months Ended

Jun. 30, 2018

Inventory Disclosure [Abstract]

Schedule of components of inventories



	June 30, 2018		December 31, 2017
	(in millions)
Raw materials and precious metals	$	144	$	114
In-process inventories	29		22
Finished goods	185		172
Parts and supplies	75		77
Total Inventories	$	433	$	385

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

Summary of property, plant and equipment



	June 30, 2018		December 31, 2017
	(in millions)
Land and improvements	$	44	$	48
Buildings	82		83
Machinery and equipment	3,750		3,734
Other	150		138
	4,026		4,003
Less: Accumulated depreciation	1,532		1,431
Total property, plant and equipment, net	$	2,494	$	2,572

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of long-term debt



Debt Balance, Net of Current Maturities and Unamortized Issuance Costs
	June 30, 2018			December 31, 2017
	(in millions)
6.5% Senior Notes due 2022 (a)	$	500		$	500
9.25% Senior Secured Notes due 2023 (b)	645			645
6.5% Senior Notes due 2021 (b)	2			2
Capital lease obligations	44			45
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	1,191			1,192
Less:
Unamortized debt issuance cost and debt discount	(24		)	(26		)
Current portion of capital lease obligations	(2		)	(2		)
Long-term debt, net of current portion	$	1,165		$	1,164


(a)	The estimated fair value of total long-term debt outstanding was approximately $510 million as of June 30, 2018.


(b)	The estimated fair value of total long-term debt outstanding was approximately $667 million as of June 30, 2018.




	Total Capacity		Amount Borrowed as of June 30, 2018		Outstanding Letters of Credit		Available Capacity as of June 30, 2018		Maturity Date

Amended and Restated Asset Based (ABL) Credit Facility (c)	$	400	$	—	$	6	$	394	November 14, 2022
Asset Based (ABL) Credit Facility (d)	50		—		—		50		September 30, 2021


(c)	Loans under the asset based credit facility initially bear interest at an annual rate equal to (i) 1.50% plus LIBOR or (ii) 0.50% plus a base rate, subject to quarterly excess availability.


(d)	Loans under the asset based credit facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter's excess availability.

- 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)
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+ Details

Supplemental Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2018

Supplemental Cash Flow Elements [Abstract]

Schedule of cash flows related to income taxes, interest, construction in process and dividends

Cash flows related to income taxes, interest, construction in process and dividends were as follows:



	Six Months Ended June 30,
	2018		2017
	(in millions)
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$	8	$	10
Cash paid for interest	52		53
Non-cash investing and financing activities:
Construction in progress additions included in accounts payable	$	8	$	9
Change in accounts payable related to construction in progress additions	—		(7		)
Landlord incentives for leasehold improvements	—		1
Dividend accrual	65		—

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following tables set forth the assets and liabilities measured at fair value on a recurring basis, by input level, as of June 30, 2018 and December 31, 2017:



	June 30, 2018
Location and Description	Level 1		Level 2			Level 3		Total
	(in millions)
Cash equivalents	$	50	$	—		$	—	$	50
Other current assets (investments)	—		—			—		—
Other current assets (commodity derivatives)	—		1			—		1
Total Assets	$	50	$	1		$	—	$	51
Other current liabilities (commodity derivatives)	$	—	$	(27	)	$	—	$	(27	)
Other current liabilities (biofuel blending obligation)	—		(11		)	—		(11		)
Total Liabilities	$	—	$	(38	)	$	—	$	(38	)



	December 31, 2017
Location and Description	Level 1		Level 2			Level 3		Total
	(in millions)
Cash equivalents	$	15	$	—		$	—	$	15
Other current assets (investments)	—		—			—		—
Total Assets	$	15	$	—		$	—	$	15
Other current liabilities (commodity derivatives)	$	—	$	(64	)	$	—	$	(64	)
Other long-term liabilities (biofuel blending obligation)	—		(1		)	—		(1		)
Total Liabilities	$	—	$	(65	)	$	—	$	(65	)

Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gain (loss) on derivatives



Gain (Loss) on Derivatives
	Three Months Ended June 30,					Six Months Ended June 30,
	2018			2017		2018			2017
	(in millions)
Realized gain on commodity derivatives	$	19		$	—	$	33		$	1
Realized loss on margin account	(2		)	—		(2		)	—
Total realized gain on derivatives, net	$	17		$	—	$	31		$	1

Schedule of open commodity derivative instruments



Open Commodity Derivative Instruments
	June 30, 2018	December 31, 2017
	(in millions of barrels)
Commodity Swap Instruments:
2-1-1 Crack spreads	—	7
Distillate Crack spreads	—	4
Gasoline Crack spreads	—	4
Purchase and Sale Commitments:
Canadian crude oil	4	6

Schedule of fair value of commodity derivatives



Fair Value of Commodity Derivatives
	June 30, 2018			December 31, 2017
	(in millions)
Net unrealized gain (loss) on outstanding commodity derivative contracts	$	(26	)	$	(64	)

Derivative offsetting assets



	As of June 30, 2018
Description	Gross Current Assets		Gross Amounts Offset			Net Current Assets Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	6	$	(5	)	$	1	$	—	$	1
Total	$	6	$	(5	)	$	1	$	—	$	1

	As of June 30, 2018
Description	Gross Current Liabilities		Gross Amounts Offset			Net Current Liabilities Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	32	$	(5	)	$	27	$	—	$	27
Total	$	32	$	(5	)	$	27	$	—	$	27



	As of December 31, 2017
Description	Gross Current Assets		Gross Amounts Offset			Net Current Assets Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	7	$	(7	)	$	—	$	—	$	—
Total	$	7	$	(7	)	$	—	$	—	$	—

	As of December 31, 2017
Description	Gross Current Liabilities		Gross Amounts Offset			Net Current Liabilities Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	71	$	(7	)	$	64	$	—	$	64
Total	$	71	$	(7	)	$	64	$	—	$	64

Derivative offsetting liabilities



	As of June 30, 2018
Description	Gross Current Assets		Gross Amounts Offset			Net Current Assets Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	6	$	(5	)	$	1	$	—	$	1
Total	$	6	$	(5	)	$	1	$	—	$	1

	As of June 30, 2018
Description	Gross Current Liabilities		Gross Amounts Offset			Net Current Liabilities Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	32	$	(5	)	$	27	$	—	$	27
Total	$	32	$	(5	)	$	27	$	—	$	27



	As of December 31, 2017
Description	Gross Current Assets		Gross Amounts Offset			Net Current Assets Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	7	$	(7	)	$	—	$	—	$	—
Total	$	7	$	(7	)	$	—	$	—	$	—

	As of December 31, 2017
Description	Gross Current Liabilities		Gross Amounts Offset			Net Current Liabilities Presented		Cash Collateral Not Offset		Net Amount
	(in millions)
Commodity Derivatives	$	71	$	(7	)	$	64	$	—	$	64
Total	$	71	$	(7	)	$	64	$	—	$	64

Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2018

Summary of dividends paid

The following is a summary of dividends paid to the Company's stockholders, including IEP, for the respective quarters to which the distributions relate:



	December 31, 2017		March 31, 2018		Total Dividends Paid in 2018
	(in millions, except per unit data)
Amount paid to IEP	$	36	$	36	$	72
Amount paid to public stockholders	7		8		15
Total amount paid	$	43	$	44	$	87

Per common share	$	0.50	$	0.50	$	1.00
Shares outstanding	86.8		86.8

Schedule of related party transactions

Activity associated with the Company's related party arrangements for the three and six month periods ending June 30, 2018 and 2017 is summarized below:



Expenses from related parties
	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
	(in millions)
Payments made
Tax Allocation Agreement:
American Entertainment Properties Corporation	$	8	$	10	$	8	$	10



Amounts due to/from related parties
	June 30, 2018			December 31, 2017
	(in millions)
Accounts Receivable (Payable)
Tax Allocation Agreement:
American Entertainment Properties Corporation ("AEPC")	$	(16	)	$	5

Segments (Tables)

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Operating results and capital expenditures information by segment

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



	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
	(in millions)
Net sales
Petroleum	$	1,824		$	1,338		$	3,282		$	2,762
Nitrogen Fertilizer	93			98			173			183
Other	(3		)	(2		)	(4		)	(3		)
Total	$	1,914		$	1,434		$	3,451		$	2,942
Operating income (loss)
Petroleum	$	117		$	(7	)	$	214		$	59
Nitrogen Fertilizer	—			12			(4		)	18
Other	(6		)	(4		)	(9		)	(8		)
Total operating income	111			1			201			69
Interest expense, net	(27		)	(27		)	(53		)	(54		)
Gain on derivatives, net	10			—			70			12
Other income, net	2			—			3			0
Earnings before income taxes	$	96		$	(26	)	$	221		$	27
Depreciation and amortization
Petroleum	$	33		$	32		$	67		$	66
Nitrogen Fertilizer	20			20			37			35
Other	2			2			4			4
Total	$	55		$	54		$	108		$	105
Capital expenditures
Petroleum	$	16		$	28		$	32		$	48
Nitrogen Fertilizer	6			4			9			9
Other	—			1			1			1
Total	$	22		$	33		$	42		$	58

The following table summarizes total assets by segment:



	As of June 30, 2018		As of December 31, 2017
	(in millions)
Total assets
Petroleum	$	2,366	$	2,270
Nitrogen Fertilizer	1,200		1,234
Other	284		303
Total	$	3,850	$	3,807

Organization and Basis of Presentation (Details) $ / shares in Units, $ in Millions					3 Months Ended		6 Months Ended
	Aug. 13, 2018 USD ($)	Jul. 25, 2018 USD ($) $ / shares	Jun. 18, 2018 shares	May 28, 2018 USD ($) $ / shares	Jun. 30, 2018 $ / shares	Jun. 30, 2017 $ / shares	Jun. 30, 2018 segment $ / shares	Jun. 30, 2017 $ / shares
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Number of operating segments \| segment							2
Dividends declared (in dollars per share) \| $ / shares				$ 0.75	$ 0.75	$ 0.50	$ 1.25	$ 1.00
Dividends declared				$ 65
CVR Refining, LP \| Second Underwritten Offering
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of limited partner interest held by the public							34.00%
CVR Refining Holdings LLC \| CVR Refining, LP \| Second Underwritten Offering
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by CVR Refining Holdings or CRLLC							66.00%
CVR Refining Holdings LLC \| CVR Refining GP, LLC \| Second Underwritten Offering
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by limited partner							100.00%
CVR Partners, LP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of limited partner interest held by the public							66.00%
Coffeyville Resources LLC (CRLLC) \| CVR Refining, LP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by CVR Refining Holdings or CRLLC							34.00%
Coffeyville Resources LLC (CRLLC) \| CVR Refining GP, LLC
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by limited partner							100.00%
Exchange Offer, CVR Refining Common Units for CVR Energy Common Stock
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Number of common units offered to exchange (up to) (in shares) \| shares			37,154,236
Exchange ratio			0.6335
Forecast
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Proceeds from distribution	$ 64
Subsequent Event \| CVR Refining, LP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Distributions declared (in dollars per share) \| $ / shares		$ 0.66
Distributions declared		$ 97
IEP
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Ownership percentage held by controlling stockholder							82.00%
IEP \| CVR Refining, LP \| Second Underwritten Offering
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of limited partner interest held by the public							3.90%
IEP \| Forecast \| IEP Energy LLC
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Ownership percentage held by controlling stockholder	82.00%
Dividends declared	$ 53

Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales	$ 1,914	$ 1,434	$ 3,451	$ 2,942
Cost of materials and other	1,570	$ 1,229	2,809	$ 2,450
Assets
Accounts Receivable	190		190			$ 179
Liabilities
Deferred Revenue	11		11
CVR Partners
Assets
Accounts Receivable					$ 31
Liabilities
Deferred Revenue	11		11		34	$ 34
Balances Without Adoption of ASC 606
Assets
Accounts Receivable	180		180
Liabilities
Deferred Revenue	1		1
Effect of Change \| ASU 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales	1		1
Cost of materials and other	1		1
Assets
Accounts Receivable	10		10		21
Liabilities
Deferred Revenue	$ 10		$ 10		$ 21

Revenue - Revenue Disaggregated by Major Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,914	$ 1,434	$ 3,451	$ 2,942
Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,913		3,448
Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	896		1,608
Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	832		1,484
Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	28		40
UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	51		104
Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	5		10
Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	13		26
Other product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	88		176
Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	1		3
Operating Segments \| Petroleum
Disaggregation of Revenue [Line Items]
Total revenue	1,824	1,338	3,282	2,762
Operating Segments \| Petroleum \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	1,823		3,279
Operating Segments \| Petroleum \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	896		1,608
Operating Segments \| Petroleum \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	832		1,484
Operating Segments \| Petroleum \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments \| Petroleum \| UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments \| Petroleum \| Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments \| Petroleum \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	6		11
Operating Segments \| Petroleum \| Other product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	89		176
Operating Segments \| Petroleum \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	1		3
Operating Segments \| Nitrogen Fertilizer
Disaggregation of Revenue [Line Items]
Total revenue	93	$ 98	173	$ 183
Operating Segments \| Nitrogen Fertilizer \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	93		173
Operating Segments \| Nitrogen Fertilizer \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments \| Nitrogen Fertilizer \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Operating Segments \| Nitrogen Fertilizer \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	28		40
Operating Segments \| Nitrogen Fertilizer \| UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	51		104
Operating Segments \| Nitrogen Fertilizer \| Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	5		10
Operating Segments \| Nitrogen Fertilizer \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	7		15
Operating Segments \| Nitrogen Fertilizer \| Other product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	2		4
Operating Segments \| Nitrogen Fertilizer \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	0		0
Other / Eliminations
Disaggregation of Revenue [Line Items]
Total revenue	(3)		(4)
Other / Eliminations \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	(3)		(4)
Other / Eliminations \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations \| UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations \| Urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	0		0
Other / Eliminations \| Other product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	(3)		(4)
Other / Eliminations \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue	$ 0		$ 0

Revenue - Additional information (Details) $ in Millions	6 Months Ended
Revenue - Additional information (Details) $ in Millions	Jun. 30, 2018 USD ($)
CVR Partners
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 13
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) - CVR Partners	Jun. 30, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	56.00%
Remaining performance obligation, expected timing of satisfaction, period	1 year 6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	22.00%
Remaining performance obligation, expected timing of satisfaction, period	1 year

Revenue - Deferred Revenue (Details) $ in Millions	6 Months Ended
Revenue - Deferred Revenue (Details) $ in Millions	Jun. 30, 2018 USD ($)
Less:
Balance at June 30, 2018	$ 11
CVR Partners
Change in Contract with Customer, Liability [Roll Forward]
Balance at January 1, 2018	34
Add:
New prepay contracts entered into during the period	14
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	32
Revenue recognized related to contracts entered into during the period	5
Other changes	0
Balance at June 30, 2018	$ 11

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-Based Compensation
Total Share-Based Compensation Expense	$ 11	$ 3	$ 12	$ 7
Incentive Unit Awards
Share-Based Compensation
Total Share-Based Compensation Expense	3	1	2	3
CVR Energy LTIP \| Performance Unit Award
Share-Based Compensation
Total Share-Based Compensation Expense	1	1	2	2
CVR Partners \| CVR Partners LTIP \| Phantom Units Award
Share-Based Compensation
Total Share-Based Compensation Expense	1	0	1	0
CVR Refining \| CVR Refining LTIP \| Phantom Units Award
Share-Based Compensation
Total Share-Based Compensation Expense	$ 6	$ 1	$ 7	$ 2

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials and precious metals	$ 144	$ 114
In-process inventories	29	22
Finished goods	185	172
Parts and supplies	75	77
Total Inventories	$ 433	$ 385

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Property, Plant, and Equipment
Total property, plant and equipment, gross	$ 4,026	$ 4,003
Less: Accumulated depreciation	1,532	1,431
Total property, plant and equipment, net	2,494	2,572
Land and improvements
Property, Plant, and Equipment
Total property, plant and equipment, gross	44	48
Buildings
Property, Plant, and Equipment
Total property, plant and equipment, gross	82	83
Machinery and equipment
Property, Plant, and Equipment
Total property, plant and equipment, gross	3,750	3,734
Other
Property, Plant, and Equipment
Total property, plant and equipment, gross	$ 150	$ 138

Long-Term Debt - Debt Balance, Net of Current Maturities and Unamortized Issuance Costs (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 1,191	$ 1,192
Less:
Unamortized debt issuance cost and debt discount	(24)	(26)
Current portion of capital lease obligations	(2)	(2)
Long-term debt, net of current portion	1,165	1,164
Senior Notes \| 6.5% Senior Notes due 2022
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 500	500
Less:
Stated interest rate	6.50%
Estimated fair value of total long-term debt outstanding	$ 510
Senior Notes \| 9.25% Senior Secured Notes due 2023
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 645	645
Less:
Stated interest rate	9.25%
Estimated fair value of total long-term debt outstanding	$ 667
Senior Notes \| 6.5% Senior Notes due 2021
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 2	2
Less:
Stated interest rate	6.50%
Capital Lease Obligations
Debt Instrument [Line Items]
Total long-term debt, before debt issuance costs, discount and current portion of capital lease obligations	$ 44	$ 45

Long-Term Debt - Credit Facilities Outstanding (Details) - Line of Credit - Revolving Credit Facility	6 Months Ended
	Jun. 30, 2018 USD ($)
Amended and Restated Asset Based (ABL) Credit Facility
Line of Credit Facility [Line Items]
Total Capacity	$ 400,000,000
Amount Borrowed	0
Outstanding Letters of Credit	6,000,000
Available Capacity	$ 394,000,000
Amended and Restated Asset Based (ABL) Credit Facility \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Amended and Restated Asset Based (ABL) Credit Facility \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Variable rate step-down	0.50%
Asset Based (ABL) Credit Facility
Line of Credit Facility [Line Items]
Total Capacity	$ 50,000,000
Amount Borrowed	0
Outstanding Letters of Credit	0
Available Capacity	$ 50,000,000
Asset Based (ABL) Credit Facility \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Asset Based (ABL) Credit Facility \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Supplemental disclosures:
Cash paid for income taxes, net of refunds	$ 8	$ 10
Cash paid for interest	52	53
Non-cash investing and financing activities:
Construction in progress additions included in accounts payable	8	9
Change in accounts payable related to construction in progress additions	0	(7)
Landlord incentives for leasehold improvements	0	1
Dividend accrual	$ 65	$ 0

Commitments and Contingencies - Crude Oil Supply Agreement (Details) - CRRM - New Vitol Agreement	Aug. 31, 2012
Loss Contingencies [Line Items]
Renewal term of agreement	1 year
Notice of nonrenewal period prior to expiration	180 days

Commitments and Contingencies - Environmental, Health and Safety ("EHS") Matters (Details) - EHS - CVR Refining - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Loss Contingencies [Line Items]
Cost of renewable identification numbers expense	$ 50	$ 106	$ 27	$ 99
Biofuel blending obligation recorded in other current liabilities	16		16		$ 28
RINs Asset	$ 14		$ 14

Commitments and Contingencies - Affiliate Pension Obligations (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018 USD ($) sponsor	Dec. 31, 2017 USD ($)
Loss Contingencies [Line Items]
Minimum ownership interest in CVR Energy by Mr. Icahn's affiliates	80.00%
Number of sponsors of pension plans \| sponsor	2
Affiliate Pension Obligations
Loss Contingencies [Line Items]
Underfunded pension obligation, if ACF and Federal-Mogul plans were voluntarily terminated \| $	$ 435	$ 424
Majority Shareholder
Loss Contingencies [Line Items]
Ownership percentage held by controlling stockholder	82.00%

Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Fair value measurements
Cash equivalents	$ 50	$ 15
Other current assets (investments)	0	0
Total Assets	51	15
Total Liabilities	(38)	(65)
Other derivative agreements
Fair value measurements
Other current assets (commodity derivatives)	1
Other current liabilities (other derivative agreements)	(27)	(64)
Biofuels blending obligation
Fair value measurements
Other liabilities (biofuel blending obligation)	(11)	(1)
Level 1
Fair value measurements
Cash equivalents	50	15
Other current assets (investments)	0	0
Total Assets	50	15
Total Liabilities	0	0
Level 1 \| Other derivative agreements
Fair value measurements
Other current assets (commodity derivatives)	0
Other current liabilities (other derivative agreements)	0	0
Level 1 \| Biofuels blending obligation
Fair value measurements
Other liabilities (biofuel blending obligation)	0	0
Level 2
Fair value measurements
Cash equivalents	0	0
Other current assets (investments)	0	0
Total Assets	1	0
Total Liabilities	(38)	(65)
Level 2 \| Other derivative agreements
Fair value measurements
Other current assets (commodity derivatives)	1
Other current liabilities (other derivative agreements)	(27)	(64)
Level 2 \| Biofuels blending obligation
Fair value measurements
Other liabilities (biofuel blending obligation)	(11)	(1)
Level 3
Fair value measurements
Cash equivalents	0	0
Other current assets (investments)	0	0
Total Assets	0	0
Total Liabilities	0	0
Level 3 \| Other derivative agreements
Fair value measurements
Other current assets (commodity derivatives)	0
Other current liabilities (other derivative agreements)	0	0
Level 3 \| Biofuels blending obligation
Fair value measurements
Other liabilities (biofuel blending obligation)	$ 0	$ 0

Derivative Financial Instruments - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018 USD ($)
CVR Refining
Derivative [Line Items]
Increase or decrease in related fair value of commodity instruments and forward purchase and sale commitments based on change of $1.00 per value in fair value of benchmark crude or product basis	$ 2

Derivative Financial Instruments - Schedule of Gains (Losses) on Derivatives (Details) - CVR Refining, LP - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Total realized gain (loss) on derivatives, net	$ 17	$ 0	$ 31	$ 1
Commodity Derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Total realized gain (loss) on derivatives, net	19	0	33	1
Margin Account
Derivative Instruments, Gain (Loss) [Line Items]
Total realized gain (loss) on derivatives, net	$ (2)	$ 0	$ (2)	$ 0

Derivative Financial Instruments - Open Commodity Derivative Instruments (Details) - CVR Refining, LP - bbl bbl in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
2-1-1 Crack spreads
Derivative [Line Items]
Number of barrels	0	7
Distillate Crack spreads
Derivative [Line Items]
Number of barrels	0	4
Gasoline Crack spreads
Derivative [Line Items]
Number of barrels	0	4
Canadian crude oil
Derivative [Line Items]
Number of barrels	4	6

Derivative Financial Instruments - Fair Value of Commodity Derivatives (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
CVR Refining, LP \| Commodity Derivatives
Derivatives, Fair Value [Line Items]
Net unrealized gain (loss) on outstanding commodity derivative contracts	$ (26)	$ (64)

Derivative Financial Instruments - Schedule of Offsetting Liabilities (Details) - CVR Refining, LP - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current Assets
Offsetting assets
Gross Current Assets	$ 6	$ 7
Gross Amounts Offset	(5)	(7)
Net Current Assets Presented	1	0
Cash Collateral Not Offset	0	0
Net Amount	1	0
Current Assets \| Commodity Derivatives
Offsetting assets
Gross Current Assets	6	7
Gross Amounts Offset	(5)	(7)
Net Current Assets Presented	1	0
Cash Collateral Not Offset	0	0
Net Amount	1	0
Current Liabilities
Offsetting liabilities
Gross Current Liabilities	32	71
Gross Amounts Offset	(5)	(7)
Net Current Liabilities Presented	27	64
Cash Collateral Not Offset	0	0
Net Amount	27	64
Current Liabilities \| Commodity Derivatives
Offsetting liabilities
Gross Current Liabilities	32	71
Gross Amounts Offset	(5)	(7)
Net Current Liabilities Presented	27	64
Cash Collateral Not Offset	0	0
Net Amount	$ 27	$ 64

Related Party Transactions - Summary of Dividends Paid (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2018	Jun. 30, 2017
Related Party Transaction [Line Items]
Total amount paid	$ 44	$ 43	$ 87	$ 87
Per common share (in dollars per share)	$ 0.50	$ 0.50	$ 1.00
Shares outstanding (in shares)	86.8	86.8
Public Stockholders
Related Party Transaction [Line Items]
Total amount paid	$ 8	$ 7	$ 15
IEP
Related Party Transaction [Line Items]
Total amount paid	$ 36	$ 36	$ 72

Related Party Transactions - Expenses Incurred and Payments Made to Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
American Entertainment Properties Corporation \| Tax Allocation Agreement
Related Party Transaction [Line Items]
Payments made	$ 8	$ 10	$ 8	$ 10

Related Party Transactions - Payables Due To/From Related Parties (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Tax Allocation Agreement \| American Entertainment Properties Corporation (AEPC)
Related Party Transaction [Line Items]
Accounts Receivable (Payable)	$ (16)	$ 5

Segments - Additional Information (Details)	6 Months Ended
Segments - Additional Information (Details)	Jun. 30, 2018 segment
Segment Reporting [Abstract]
Number of operating segments	2

Segments - Summary of Operating Results and Capital Expenditures by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 1,914	$ 1,434	$ 3,451	$ 2,942
Operating income (loss)	111	1	201	69
Interest expense, net	(27)	(27)	(53)	(54)
Gain on derivatives, net	10	0	70	12
Other income, net	2	0	3	0
Income (loss) before income tax expense	96	(26)	221	27
Depreciation and amortization	55	54	108	105
Capital expenditures	22	33	42	58
Total assets	3,850		3,850		$ 3,807
Operating Segments \| Petroleum
Segment Reporting Information [Line Items]
Net sales	1,824	1,338	3,282	2,762
Operating income (loss)	117	(7)	214	59
Depreciation and amortization	33	32	67	66
Capital expenditures	16	28	32	48
Total assets	2,366		2,366		2,270
Operating Segments \| Nitrogen Fertilizer
Segment Reporting Information [Line Items]
Net sales	93	98	173	183
Operating income (loss)	0	12	(4)	18
Depreciation and amortization	20	20	37	35
Capital expenditures	6	4	9	9
Total assets	1,200		1,200		1,234
Other
Segment Reporting Information [Line Items]
Net sales	(3)	(2)	(4)	(3)
Operating income (loss)	(6)	(4)	(9)	(8)
Depreciation and amortization	2	2	4	4
Capital expenditures	0	$ 1	1	$ 1
Total assets	$ 284		$ 284		$ 303