0001376139-20-000045 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-33492
Entity Registrant Name	CVR ENERGY, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1512186
Entity Address, Address Line One	2277 Plaza Drive, Suite 500
Entity Address, City or Town	Sugar Land
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77479
City Area Code	281
Local Phone Number	207-3200
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	CVI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100,530,599
Entity Central Index Key	0001376139
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents (including $33 and $37, respectively, of consolidated variable interest entities (“VIEs”))	$ 606	$ 652
Accounts receivable (including $15 and $34, respectively, of VIEs)	148	182
Inventories (including $47 and $48, respectively, of VIEs)	252	373
Prepaid expenses and other current assets (including $5 and $5, respectively, of VIEs)	253	67
Total current assets	1,259	1,274
Property, plant and equipment, net (including $925 and $952, respectively, of VIEs)	2,294	2,336
Other long-term assets (including $19 and $61, respectively, of VIEs)	375	295
Total assets	3,928	3,905
Current liabilities:
Accounts payable (including $24 and $24, respectively, of VIEs)	236	412
Other current liabilities (including $21 and $52, respectively, of VIEs)	133	184
Total current liabilities	369	596
Long-term debt and finance lease obligations (including $632 and $632, respectively, of VIEs)	1,683	1,190
Deferred income taxes	408	396
Other long-term liabilities (including $9 and $10, respectively, of VIEs)	55	55
Total long-term liabilities	2,146	1,641
Commitments and contingencies (See Note 13)
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 June 30, 2020 and December 31, 2019, respectively.	1	1
Additional paid-in-capital	1,508	1,507
Accumulated deficit	(327)	(113)
Treasury stock, 98,610 shares at cost	(2)	(2)
Total CVR stockholders’ equity	1,180	1,393
Noncontrolling interest	233	275
Total equity	1,413	1,668
Total liabilities and equity	$ 3,928	$ 3,905

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 606	$ 652
Accounts receivable	148	182
Inventories	252	373
Prepaid expenses and other current assets	253	67
Property, plant and equipment, net	2,294	2,336
Other long-term assets	375	295
Current liabilities:
Accounts payable	236	412
Other current liabilities	133	184
Long-term debt and finance lease obligations	1,683	1,190
Other long-term liabilities	$ 55	$ 55
Equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	350,000,000	350,000,000
Common stock, issued (in shares)	100,629,209	100,629,209
Treasury stock (in shares)	98,610	98,610
Variable Interest Entities
Current assets:
Cash and cash equivalents	$ 33	$ 37
Accounts receivable	15	34
Inventories	47	48
Prepaid expenses and other current assets	5	5
Property, plant and equipment, net	925	952
Other long-term assets	19	61
Current liabilities:
Accounts payable	24	24
Other current liabilities	21	52
Long-term debt and finance lease obligations	632	632
Other long-term liabilities	$ 9	$ 10

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net sales	$ 675	$ 1,687	$ 1,806	$ 3,173
Operating costs and expenses:
Cost of materials and other	444	1,267	1,501	2,368
Direct operating expenses (exclusive of depreciation and amortization)	119	132	237	258
Depreciation and amortization	71	76	134	141
Cost of sales	634	1,475	1,872	2,767
Selling, general and administrative expenses (exclusive of depreciation and amortization)	22	27	47	57
Depreciation and amortization	3	2	4	4
Loss (gain) on asset disposals	1	(9)	2	(7)
Goodwill impairment	41	0	41	0
Operating (loss) income	(26)	192	(160)	352
Other (expense) income:
Interest expense, net	(31)	(26)	(67)	(52)
Investment income from marketable securities	21	0	52	0
Other (expense) income, net	(1)	3	0	6
(Loss) income before income tax expense	(37)	169	(175)	306
Income tax (benefit) expense	(5)	41	(42)	76
Net (loss) income	(32)	128	(133)	230
Less: Net (loss) income attributable to noncontrolling interest	(27)	12	(41)	13
Net (loss) income attributable to CVR Energy stockholders	$ (5)	$ 116	$ (92)	$ 217
Basic and diluted (loss) earnings per share (in dollars per share)	$ (0.05)	$ 1.16	$ (0.92)	$ 2.16
Dividends declared per share (in dollars per share)	$ 0.40	$ 0.75	$ 1.20	$ 1.50
Weighted-average common shares outstanding:
Basic and diluted (in shares)	100.5	100.5	100.5	100.5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($) $ in Millions	Total	Effect of turnaround accounting change	Total CVR Stockholders’ Equity	Total CVR Stockholders’ Equity Effect of turnaround accounting change	$0.01 Par Value Common Stock	Additional Paid-In Capital	Additional Paid-In Capital Effect of turnaround accounting change	Accumulated Deficit	Treasury Stock	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2018					100,629,209
Beginning balance at Dec. 31, 2018	$ 1,943	$ 34	$ 1,286	$ 34	$ 1	$ 1,474	$ 34	$ (187)	$ (2)	$ 657
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(75)		(75)					(75)
Distributions from CVR Partners to its public unitholders	(9)									(9)
Acquisition of CVR Refining noncontrolling interest	(335)		(1)			(1)				(334)
Other	(2)		(2)			(1)		(1)
Net income (loss)	102		101					101		1
Ending balance (in shares) at Mar. 31, 2019					100,629,209
Ending balance at Mar. 31, 2019	1,658		1,343		$ 1	1,506		(162)	(2)	315
Beginning balance (in shares) at Dec. 31, 2018					100,629,209
Beginning balance at Dec. 31, 2018	1,943	$ 34	1,286	$ 34	$ 1	1,474	$ 34	(187)	(2)	657
Increase (Decrease) in Stockholders' Equity
Net income (loss)	230
Ending balance (in shares) at Jun. 30, 2019					100,629,209
Ending balance at Jun. 30, 2019	1,706		1,384		$ 1	1,506		(121)	(2)	322
Beginning balance (in shares) at Mar. 31, 2019					100,629,209
Beginning balance at Mar. 31, 2019	1,658		1,343		$ 1	1,506		(162)	(2)	315
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(75)		(75)					(75)
Distributions from CVR Partners to its public unitholders	(5)									(5)
Net income (loss)	128		116					116		12
Ending balance (in shares) at Jun. 30, 2019					100,629,209
Ending balance at Jun. 30, 2019	1,706		1,384		$ 1	1,506		(121)	(2)	322
Beginning balance (in shares) at Dec. 31, 2019					100,629,209
Beginning 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	(80)		(80)					(80)
Other	(1)		(1)					(1)
Net income (loss)	(101)		(87)					(87)		(14)
Ending balance (in shares) at Mar. 31, 2020					100,629,209
Ending balance at Mar. 31, 2020	1,486		1,225		$ 1	1,507		(281)	(2)	261
Beginning balance (in shares) at Dec. 31, 2019					100,629,209
Beginning balance at Dec. 31, 2019	1,668		1,393		$ 1	1,507		(113)	(2)	275
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(133)
Ending balance (in shares) at Jun. 30, 2020					100,629,209
Ending balance at Jun. 30, 2020	1,413		1,180		$ 1	1,508		(327)	(2)	233
Beginning balance (in shares) at Mar. 31, 2020					100,629,209
Beginning balance at Mar. 31, 2020	1,486		1,225		$ 1	1,507		(281)	(2)	261
Increase (Decrease) in Stockholders' Equity
Dividends paid to CVR Energy stockholders	(41)		(41)					(41)
Changes in equity due to CVR Partners’ common unit repurchases	0		1			1				(1)
Net income (loss)	(32)		(5)					(5)		(27)
Ending balance (in shares) at Jun. 30, 2020					100,629,209
Ending balance at Jun. 30, 2020	$ 1,413		$ 1,180		$ 1	$ 1,508		$ (327)	$ (2)	$ 233

- Definition

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

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash flows from operating activities:
Net (loss) income	$ (32)	$ (101)	$ 128	$ 102	$ (133)	$ 230
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	74		78		138	145
Loss on lower of cost or net realizable value adjustment					58	0
Goodwill impairment	41		0		41	0
Unrealized gain on marketable securities	(18)		0		(48)	0
Deferred income tax expense					11	21
Loss (gain) on disposition of assets					2	(7)
Share-based compensation					1	11
Other items					8	4
Changes in assets and liabilities:
Current assets and liabilities					(130)	(22)
Non-current assets and liabilities					3	2
Net cash (used in) provided by operating activities					(49)	384
Cash flows from investing activities:
Capital expenditures					(77)	(55)
Turnaround expenditures					(147)	(24)
Proceeds from sale of assets					1	36
Investment in marketable securities					(140)	0
Other investing activities					2	0
Net cash used in investing activities					(361)	(43)
Cash flows from financing activities:
Proceeds from issuance of senior secured notes					1,000	0
Principal payments on senior secured notes					(500)	0
Call premium on extinguishment of debt					(5)	0
Repurchase of CVR Partners common units					(1)	0
Acquisition of CVR Refining common units					0	(301)
Dividends to CVR Energy’s stockholders					(121)	(150)	$ (307)
Distributions to CVR Refining or CVR Partners’ noncontrolling interest holders					0	(14)
Other financing activities					(9)	(4)
Net cash provided by (used in) financing activities					364	(469)
Net decrease in cash and cash equivalents					(46)	(128)
Cash and cash equivalents, beginning of period		$ 652		$ 668	652	668	668
Cash and cash equivalents, end of period	$ 606		$ 540		$ 606	$ 540	$ 652

Organization and Nature of Business	6 Months Ended
Organization and Nature of Business	Jun. 30, 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 (the “NYSE”) under the symbol “CVI.” Icahn Enterprises L.P. and its affiliates (“IEP”) owned approximately 71% of the Company’s outstanding common shares as of June 30, 2020. CVR Partners, LP As of June 30, 2020, public security holders held approximately 65% 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 35% of CVR Partners’ outstanding common units. In addition, CVR Services held 100% of CVR Partners’ general partner, CVR GP, LLC, which held a non-economic general partner interest in CVR Partners as of June 30, 2020. Following the acquisition of the noncontrolling interest in CVR Refining in January 2019, the noncontrolling interest reflected on the condensed consolidated balance sheets of CVR is only impacted by the net income of, and distributions from, CVR Partners. 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 Listing Company Manual. CVR Partners received written notification of this noncompliance from the NYSE on April 22, 2020, and currently has 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. As of June 30, 2020, the average closing price of CVR Partners’ common units over a consecutive 30 trading-day period has remained below $1.00 per common unit. CVR Partners currently intends to monitor the closing price of its common units and consider available options if its common units do not trade at a level likely to result in CVR Partners regaining compliance with Section 802.01C by January 1, 2021. These options could include, but are not limited to, additional repurchases of common units, reverse unit splits, or other actions. On May 6, 2020, the board of directors of CVR Partners’ general partner (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. Repurchases under the Unit 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 of CVR Partners’ general partner and are subject to market conditions, as well as corporate, regulatory, and other considerations. 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. On May 20, 2020, CVR Partners entered into a common unit repurchase agreement, pursuant to Rules 10b5-1 and 10b-18 of the Exchange Act, to facilitate the repurchase of its common units and which CVR Partners may terminate at any time by providing written notice. During the three and six months ended June 30, 2020, CVR Partners repurchased 890,218 common units on the open market at a cost of $1.0 million, inclusive of transaction costs, or an average price of $1.07 per common unit. At June 30, 2020, CVR Partners had $9.0 million in authority remaining under the Unit Repurchase Program. 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 $1.2 million to additional paid-in capital from the reduction of non-controlling interests totaling $1.6 million and the recognition of a deferred tax liability totaling $0.4 million from changes in its book versus tax basis in CVR Partners.

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	(2) Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These condensed consolidated financial statements should be read in conjunction with the December 31, 2019 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary for fair presentation of the financial position and results of operations of the Company for the periods presented. Such adjustments are of a normal recurring nature, unless otherwise disclosed. Certain reclassifications have been made within the condensed consolidated balance sheets as of December 31, 2019 and the condensed consolidated statements of operations for the three and six months ended June 30, 2019. Catalyst inventory with a value of $17 million as of December 31, 2019 was reclassified during the first quarter of 2020 to Other long-term assets to conform to 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, 2020 or any other interim or annual period.

Recent Accounting Pronouncements and Accounting Changes	6 Months Ended
Recent Accounting Pronouncements and Accounting Changes	Jun. 30, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements and Accounting Changes	(3) Recent Accounting Pronouncements and Accounting Changes 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. 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.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 15
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Inventories

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventories

(4) Inventories

Inventories consisted of the following:


(in millions)	June 30, 2020		December 31, 2019
Finished goods	$	100	$	177
Raw materials	73		112
In-process inventories	15		18
Parts, supplies and other	64		66
Total inventories	$	252	$	373

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 first-in-first-out method and selling prices for refined products subsequent to March 31, 2020. No adjustment was necessary as of June 30, 2020 or December 31, 2019.

Property, Plant and Equipment

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

(5) Property, Plant and Equipment

Property, plant and equipment consisted of the following:



(in millions)	June 30, 2020		December 31, 2019
Machinery and equipment	$	3,877	$	3,829
Buildings and improvements	88		87
ROU finance leases	55		57
Land and improvements	47		46
Furniture and fixtures	37		35
Construction in progress	92		95
Other	14		14




	4,210		4,163
Less: Accumulated depreciation	1,916		1,827
Total property, plant and equipment, net	$	2,294	$	2,336

As of June 30, 2020, the Company had not identified the existence of an impairment indicator for our long-lived asset groups as outlined under ASC 360.

Goodwill	6 Months Ended
Goodwill	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	(6) Goodwill 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 are currently expected to continue into the second half of 2020. Additionally, significant uncertainty remains 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 350 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 non-cash impairment charge of $41 million during the three months ended June 30, 2020.

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

(7) Leases

Lease Overview

We lease certain pipelines, storage tanks, railcars, office space, land, and equipment across our refining, fertilizer and corporate operations. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to 20 years or more. The exercise of lease renewal options is at our sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements is limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Certain of our lease agreements include rental payments which are adjusted periodically for factors such as inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Additionally, we do not have any material lessor or sub-leasing arrangements.

Balance Sheet Summary as of June 30, 2020 and December 31, 2019

The following tables summarize the right of use asset and lease liability balances for the Company’s operating and finance leases at June 30, 2020 and December 31, 2019:


(in millions)	June 30, 2020		December 31, 2019
Operating Leases:
ROU assets, net
Pipeline and storage	$	17	$	20
Railcars	10		12
Real estate and other	15		16
Lease liability
Pipelines and storage	$	19	$	22
Railcars	10		12
Real estate and other	13		14


(in millions)	June 30, 2020		December 31, 2019
Finance Leases:
ROU assets, net
Pipeline and storage	$	28	$	29
Real estate and other	23		24
Lease liability
Pipelines and storage	$	39	$	40
Real estate and other	24		25

Lease Expense Summary for the Three and Six Months Ended June 30, 2020 and 2019

We recognize lease expense on a straight-line basis over the lease term. For the three and six months ended June 30, 2020 and 2019, we recognized lease expense comprised of the following components:


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Operating lease expense	$	5	$	4	$	9	$	8
Finance lease expense:
Amortization of ROU	$	1	$	1	$	3	$	3
Interest expense on lease liability	2		1		3		3

Short-term lease expense, recognized within Direct operating expenses (exclusive of depreciation and amortization), was $2 million and $4 million for the three and six months ended June 30, 2020, respectively, and $2 million and $4 million for the three and six months ended June 30, 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:


	June 30, 2020		December 31, 2019
Weighted-average remaining lease term (years)
Operating Leases	3.3		3.7
Finance Leases	8.5		9.0
Weighted-average discount rate
Operating Leases	5.6	%	5.6	%
Finance Leases	8.9	%	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 June 30, 2020:


(in millions)	Operating Leases		Financing Leases
Remainder of 2020	$	8	$	5
2021	15		11
2022	11		11
2023	7		10
2024	4		10
Thereafter	—		43
Total lease payments	45		90
Less: imputed interest	(3)		(27)
Total lease liability	$	42	$	63

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 “Agreement”). Under the Agreement, among other obligations, Messer is obligated to supply and make certain capital improvements during the term of the 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 CRNFs purchase of oxygen, nitrogen, and dry air from Messer does not meet the definition of a lease under ASC 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 Agreement. The 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 ASC 842, as CRNF will receive all output associated with the vessel. Based on terms outlined in the 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

(7) Leases

Lease Overview

Balance Sheet Summary as of June 30, 2020 and December 31, 2019

The following tables summarize the right of use asset and lease liability balances for the Company’s operating and finance leases at June 30, 2020 and December 31, 2019:


(in millions)	June 30, 2020		December 31, 2019
Operating Leases:
ROU assets, net
Pipeline and storage	$	17	$	20
Railcars	10		12
Real estate and other	15		16
Lease liability
Pipelines and storage	$	19	$	22
Railcars	10		12
Real estate and other	13		14


(in millions)	June 30, 2020		December 31, 2019
Finance Leases:
ROU assets, net
Pipeline and storage	$	28	$	29
Real estate and other	23		24
Lease liability
Pipelines and storage	$	39	$	40
Real estate and other	24		25

Lease Expense Summary for the Three and Six Months Ended June 30, 2020 and 2019

We recognize lease expense on a straight-line basis over the lease term. For the three and six months ended June 30, 2020 and 2019, we recognized lease expense comprised of the following components:


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Operating lease expense	$	5	$	4	$	9	$	8
Finance lease expense:
Amortization of ROU	$	1	$	1	$	3	$	3
Interest expense on lease liability	2		1		3		3

Lease Terms and Discount Rates

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


	June 30, 2020		December 31, 2019
Weighted-average remaining lease term (years)
Operating Leases	3.3		3.7
Finance Leases	8.5		9.0
Weighted-average discount rate
Operating Leases	5.6	%	5.6	%
Finance Leases	8.9	%	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 June 30, 2020:


(in millions)	Operating Leases		Financing Leases
Remainder of 2020	$	8	$	5
2021	15		11
2022	11		11
2023	7		10
2024	4		10
Thereafter	—		43
Total lease payments	45		90
Less: imputed interest	(3)		(27)
Total lease liability	$	42	$	63

Other Current Liabilities

6 Months Ended

Jun. 30, 2020

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

(8) Other Current Liabilities

Other current liabilities were as follows:


(in millions)	June 30, 2020		December 31, 2019
Accrued taxes other than income taxes	$	29	$	28
Accrued interest	27		9
Personnel accruals	22		47
Operating lease liabilities	13		14
Accrued Renewable Fuel Standards (“RFS”) obligation	12		7
Current portion of long-term debt and finance lease obligations	7		5
Share-based compensation	6		6
Deferred revenue	3		28
Accrued income taxes	1		24
Accrued derivatives	—		7
Other accrued expenses and liabilities	13		9
Total other current liabilities	$	133	$	184

Long-Term Debt and Finance Lease Obligations

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Long-Term Debt and Finance Lease Obligations

(9) Long-Term Debt and Finance Lease Obligations

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


(in millions)	June 30, 2020		December 31, 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	(13)		(15)
Total CVR Partners debt	$	632	$	632

CVR Refining:
6.50% Senior Notes due November 2022 (2)	$	—	$	500
Finance lease obligations, net of current portion (3)	57		61
Unamortized debt issuance cost	—		(3)

Total CVR Refining debt	$	57	$	558

CVR Energy:
5.25% Senior Notes due February 2025	$	600	$	—
5.75% Senior Notes due February 2028	400		—
Unamortized debt issuance costs	(6)		—
Total CVR Energy debt	994		—
Total long-term debt and finance lease obligations, net of current portion	$	1,683	$	1,190
Current portion of long-term debt and finance lease obligations (4)	7		5
Total long-term debt and finance lease obligations, including current portion	$	1,690	$	1,195

(1)The 6.50% Notes, due April 2021, mature within 12 months, and, therefore, the outstanding balance of $2 million has been classified as short-term as of June 30, 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 recognized was approximately $5 million and $5 million as of June 30, 2020 and December 31, 2019, respectively.

(4)Amounts reported in Other current liabilities.

CVR Refining

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. As a result of this transaction, the Company recognized an $8 million loss on extinguishment of debt in the first quarter of 2020, which includes the call premium paid of $5 million and the write-off of unamortized deferred financing costs of $3 million.

CVR Energy

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

subsidiaries and certain immaterial wholly-owned subsidiaries of CVR Energy. See Part II, Item 8 of the 2019 Form 10-K for further details of the Notes.

Credit Facilities


(in millions)	Total Capacity		Amount Borrowed as of June 30, 2020		Outstanding Letters of Credit		Available Capacity as of June 30, 2020		Maturity Date
CVR Partners:
Asset Based (“AB”) Credit Facility (1)	$	46	$	—	$	—	$	46	September 30, 2021
CVR Refining:
Amended and Restated Asset Based (“Amended and Restated ABL”) Credit Facility (2)	$	400	$	—	$	7	$	393	November 14, 2022

(1)Loans under the AB Credit Facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter’s excess availability.

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

Covenant Compliance

The Company and its subsidiaries were in compliance with all covenants under their respective debt instruments as of June 30, 2020.

Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

(10) 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, 2020
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Major Product
Gasoline	$	300	$	—	$	—	$	300
Distillates (1)	246		—		—		246
Ammonia	—		37		—		37
UAN	—		55		—		55
Other urea products	—		4		—		4
Freight revenue	4		7		—		11
Other (2)	12		2		(2)		12
Revenue from product sales	562		105		(2)		665

Crude oil sales	10		—		—		10

Net sales	$	572	$	105	$	(2)	$	675



	Six Months Ended June 30, 2020
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Major Product
Gasoline	$	816	$	—	$	—	$	816
Distillates (1)	720		—		—		720
Ammonia	—		51		—		51
UAN	—		102		—		102
Other urea products	—		7		—		7
Freight revenue	9		15		—		24
Other (2)	35		5		(3)		37
Revenue from product sales	1,580		180		(3)		1,757

Crude oil sales	48		—		—		48
Other revenue (2)	1		—		—		1
Net sales	$	1,629	$	180	$	(3)	$	1,806


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

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



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

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

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

(2)Other revenue consists primarily of feedstock and asphalt sales.

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.

Transaction price allocated to remaining performance obligations

As of June 30, 2020, the Nitrogen Fertilizer Segment had approximately $8 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 $1 million of these performance obligations as revenue by the end of 2020, an additional $3 million in 2021, and the remaining balance thereafter. The Nitrogen Fertilizer Segment 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. The Nitrogen Fertilizer Segment 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 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 six months ended June 30, 2020 is presented below:


(in millions)
Balance at December 31, 2019	$	28
Add:
New prepay contracts entered into during the period (1)	18
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	16

Balance at June 30, 2020	$	3

(1) Includes $17 million where payment associated with prepaid contracts was collected as of June 30, 2020.

- 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

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments, Investments and Fair Value Measurements

(11) 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 June 30, 2020, the Petroleum Segment had open fixed-price commitments to purchase a net 5 million RINs.

Commodity derivatives include commodity swaps and forward purchase and sale commitments. There were no outstanding commodity swap positions as of June 30, 2020. There were approximately 2 million forward purchase commitments and 1 million forward sale commitments as of June 30, 2020.

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


Gain on Derivatives
	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Forward purchases and sales contracts, net	$	15	$	3	$	51	$	20
Commodity swap instruments	4		—		4		—
Futures contracts	1		1		10		—
Total gain on derivatives, net	$	20	$	4	$	65	$	20

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

Open Commodity Derivative Instruments

(in millions of barrels)

June 30, 2020

December 31, 2019

Forward purchases and sales contracts, net:

Canadian crude oil

Offsetting Assets and Liabilities

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


	Derivative Assets						Derivative Liabilities
(in millions)	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Commodity derivatives	$	6	$	3	$	(1)	$	(11)

Less: Counterparty netting	(1)		(3)		1		3
Total net fair value of derivatives	$	5	$	—	$	—	$	(8)

Investments

Investments consist of equity securities, which are reported at fair value in our condensed consolidated balance sheets. These investments are considered trading securities. Investment income from marketable securities consists of the following:


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Dividend income	$	3	$	—	$	4	$	—
Unrealized gain	18		—		48		—
Investment income from marketable securities	$	21	$	—	$	52	$	—

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 or disclosed at fair value on a recurring basis, by input level, as of June 30, 2020 and December 31, 2019:


	June 30, 2020
(in millions)	Level 1		Level 2		Level 3		Total
Location and Description

Prepaid expenses and other current assets (investments)	$	188	$	—	$	—	$	188
Prepaid expenses and other current assets (commodity derivatives)	—		6		—		6

Total Assets	188		6		—		194


Other current liabilities (RFS obligation)	—		(12)		—		(12)
Long-term debt and finance lease obligations (senior notes)	—		(1,534)		—		(1,534)
Total Liabilities	$	—	$	(1,546)	$	—	$	(1,546)


	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 (senior notes)	—		(1,180)		—		(1,180)
Total Liabilities	$	—	$	(1,195)	$	—	$	(1,195)

As of June 30, 2020 and December 31, 2019, 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, long-term debt, and the RFS

obligation. The Petroleum Segment’s commodity derivative contracts and RFS obligation, which use fair value measurements and are valued using broker quoted market prices of similar instruments, are considered Level 2 inputs. The Company had no transfers of assets or liabilities between any of the above levels during the six months ended June 30, 2020.

Share-Based Compensation

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

(12) Share-Based Compensation

A summary of compensation expense during the three and six months ended June 30, 2020 and 2019 is presented below:



	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019

CVR Refining - Phantom Unit Awards	—		1		$	—	$	2
CVR Partners LTIP - Phantom Unit Awards	—		1		—		2
Incentive Unit Awards	2		4		1		7
Total Share-Based Compensation Expense	$	2	$	6	$	1	$	11

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(13) Commitments and Contingencies Except as described below, there have been no material changes in the Company’s commitments and contingencies disclosed in the 2019 Form 10-K. In the ordinary course of business, the Company may become party to lawsuits, administrative proceedings, and governmental investigations, including environmental, regulatory, and other matters. The outcome of these matters cannot always be predicted accurately, but the Company accrues liabilities for these matters if the Company has determined that it is probable a loss has been incurred and the loss can be reasonably estimated. While it is not possible to predict the outcome of such proceedings, if one or more of them were decided against us, the Company believes there would be no material impact on its consolidated financial statements. The Company is continuing to evaluate its contractual arrangements and customer, vendor, and supplier relationships to determine whether and to what extent, if any, the impacts of the COVID-19 pandemic or recent crude oil or refined product price volatility will impair or excuse the performance of the Company or its subsidiaries or their customers, vendors, or suppliers under existing agreements. As of June 30, 2020, the Company had not experienced a material financial impact from any actual or threatened impairment of or excuse in its or others’ performance under such agreements. Crude Oil Supply Agreement On August 31, 2012, an indirect, wholly-owned subsidiary of the Petroleum Segment and Vitol Inc. (“Vitol”) entered into an Amended and Restated Crude Oil Supply Agreement (as amended, the “Crude Oil Supply Agreement”). Under the Crude Oil Supply Agreement, Vitol supplies the Petroleum Segment with crude oil and intermediation logistics helping to reduce the amount of inventory held at 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 38% and 40% for the three months ended June 30, 2020 and 2019, respectively, and 28% and 40% for the six months ended June 30, 2020 and 2019, 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. RFS The Petroleum Segment is subject to the RFS of the Environmental Protection Agency (“EPA”) that require refiners to either blend renewable fuels in with their transportation fuels or purchase renewable fuel credits, known as 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. For the three months ended June 30, 2020 and 2019, the Company recognized expense of approximately $16 million and $21 million, respectively, and for the six months ended June 30, 2020 and 2019, the Company recognized expense of approximately $35 million and $33 million, respectively, for the Petroleum Segment’s compliance with the RFS. The recognized amounts are included within Cost of materials and other in the condensed consolidated statements of operations. The Company’s costs to comply with the RFS include the recognition of the Petroleum Segment’s biofuel blending obligation based on the purchased cost of RINs or the fair value of the obligation for which RINs have not been purchased, based on market prices at each reporting date, and the valuation change of RINs acquired in excess of its RFS obligation as of the reporting date. Tax Matters On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), an economic stimulus package in response to the COVID-19 pandemic. The CARES Act contains several corporate income tax provisions, including a five-year carry back of net operating losses generated in tax years 2018, 2019, and 2020, an increase in the amount of deductible interest and deferral of certain employer payroll taxes otherwise required to be paid in 2020. The Company will continue to monitor the impact the CARES Act and any related legislation will have on its current and certain prior period tax returns. Litigation The U.S. Attorney’s office for the Southern District of New York contacted CVR Energy in September 2017 seeking production of information pertaining to CVR Refining’s, CVR Energy’s and Mr. Carl C. Icahn’s activities relating to the RFS and Mr. Icahn’s former role as an advisor to the President of the United States. CVR Energy cooperated with the request and provided information in response to the subpoena. The U.S. Attorney’s office has not made any claims or allegations against CVR Energy or Mr. Icahn. CVR Energy believes it 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. In June 2020, in advance of the June 30, 2020 expiration of the tolling agreement previously entered into by Coffeyville Resources Refining & Marketing, LLC (“CRRM”) with the United States Department of Justice (“DOJ”) (on behalf of the EPA) and the Kansas Department of Health and Environment (“KDHE”), CRRM received a demand letter from the EPA and KDHE alleging violations of the Clean Air Act (“CAA”) and CRRM’s 2012 Consent Decree (“CD”) relating to CRRM’s Coffeyville refinery (the “Coffeyville Refinery”), and seeking certain penalties in connection therewith. CRRM is evaluating this matter, including the dispute resolution and related provisions of the CD regarding such allegations. At this time, this matter has not had a material impact on the Company’s financial position, results of operations, or cash flows, and the Company cannot yet reasonably estimate the full impact that may result from this matter or any subsequent enforcement or litigation relating thereto. In April 2020, the U.S. Court of Appeals for the 10^th Circuit (the “10^th Circuit”) denied the petitions of Wynnewood Refining Company, LLC (“WRC”) and others seeking rehearing en banc of the January 2020 decision of a three-judge panel of the 10^th Circuit vacating three small refinery exemptions (“SREs”) under the RFS program under the CAA, including one issued to WRC’s Wynnewood refinery (the “Wynnewood Refinery”) for 2017, and remanding the matter back to the EPA for further proceedings. WRC currently intends to file a writ of certiorari with the Supreme Court of the United States (the “Supreme Court”) on or before September 4, 2020. As it is not yet clear whether this matter will be heard by the Supreme Court, 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. 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 relating to the Company’s exercise of the call option under the CVR Refining Amended and Restated Agreement of Limited Partnership assigned to it by CVR Refining’s general partner. This lawsuit, which primarily alleges violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 thereunder and seeks monetary damages and attorney’s fees, among other remedies, is in addition to the nine lawsuits consolidated in the Court of Chancery of the State of Delaware related to the Company’s exercise of the call option. The Company believes all of these lawsuits are without merit and intends to vigorously defend against them. As these lawsuits are in the early stages of litigation, the Company cannot determine at this time the outcome of the lawsuits, including whether the outcome would have a material impact on the Company’s financial position, results of operations, or cash flows.

Business Segments

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Business Segments

(14) Business Segments

CVR Energy’s revenues are derived from two operating segments: the Petroleum Segment and the Nitrogen Fertilizer Segment. The Company evaluates the performance of its segments based primarily on segment operating income and Earnings Before Interest, Taxes, Depreciation, and Amortization (“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 statements of operations. The other amounts reflect intercompany eliminations, corporate cash and cash equivalents, income tax activities, and other corporate activities that are not allocated to the operating segments.

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


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Net sales
Petroleum	$	572	$	1,552	$	1,629	$	2,949
Nitrogen Fertilizer	105		138		180		230
Other	(2)		(3)		(3)		(6)
Total	$	675	$	1,687	$	1,806	$	3,173










Operating income (loss)
Petroleum	$	5	$	163	$	(122)	$	319
Nitrogen Fertilizer	(26)		35		(31)		44
Other	(5)		(6)		(7)		(11)
Total	(26)		192		(160)		352
Interest expense, net	(31)		(26)		(67)		(52)
Investment income from marketable securities	21		—		52		—
Other (loss) income, net	(1)		3		—		6
(Loss) income before income taxes	$	(37)	$	169	$	(175)	$	306
Depreciation and amortization
Petroleum	$	50	$	52	$	99	$	101
Nitrogen Fertilizer	24		25		39		42
Other	—		1		—		2
Total	$	74	$	78	$	138	$	145
Capital expenditures (1)
Petroleum	$	22	$	17	$	63	$	38
Nitrogen Fertilizer	3		2		8		5
Other	1		3		2		3
Total	$	26	$	22	$	73	$	46

The following table summarizes total assets by segment:


(in millions)	June 30, 2020		December 31, 2019

Petroleum	$	2,872	$	3,187
Nitrogen Fertilizer	1,043		1,138
Other (2)	13		(420)
Total Assets	$	3,928	$	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 six months ended June 30, 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
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+ Details

Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2020

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

(15) Supplemental Cash Flow Information

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


	Six Months Ended June 30,
(in millions)	2020		2019
Supplemental disclosures:
Cash (received for income taxes, net of payments) paid for income taxes, net of refunds	$	(4)	$	32
Cash paid for interest	49		52
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	8		8
Operating cash flows from finance leases	3		3
Financing cash flows from finance leases	3		3
Non-cash investing activities:

Change in capital expenditures included in accounts payable (1)	(4)		(9)

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

Related Party Transactions

6 Months Ended

Jun. 30, 2020

Related Party Transactions

(16) Related Party Transactions

Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2020 and 2019 is summarized below:

Expenses from related parties


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Cost of materials and other
Joint Venture Transportation Agreement:
Enable	$	3	$	3	$	6	$	5


Payments made

Dividends (1)	$	28	$	53	85		106

(1)See below for a summary of the dividends paid to IEP for the six months ended June 30, 2020 and year ended December 31, 2019.

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 22, 2019, the Audit Committee of CVR Energy’s board of directors (the “Board”) and the Conflicts Committee of the UAN GP Board 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. No dividends were declared for the second quarter of 2020.

The following tables present dividends paid to the Company’s stockholders, including IEP, during 2020 and 2019 (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


				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Share		Stockholders		IEP		Total
2018 - 4th Quarter	March 11, 2019	$	0.75	$	22	$	53	$	75
2019 - 1st Quarter	May 13, 2019	0.75		22		53		75
2019 - 2nd Quarter	August 12, 2019	0.75		22		53		75
2019 - 3rd Quarter	November 11, 2019	0.80		23		57		80
Total		$	3.05	$	90	$	217	$	307

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 paid by CVR Partners during the six months ended June 30, 2020 related to the fourth quarter of 2019 or first quarter of 2020, and no distributions were declared for the second quarter of 2020.

The following table presents distributions paid by CVR Partners to its unitholders, including amounts paid to CVR Energy, during 2019.


				Distributions Paid (in thousands)
Related Period	Date Paid	Distribution Per Common Unit		Public Unitholders		CVR Energy		Total
2018 - 4th Quarter	March 11, 2019	$	0.12	$	8,924	$	4,670	$	13,594
2019 - 1st Quarter	May 13, 2019	0.07		5,205		2,724		7,929
2019 - 2nd Quarter	August 12, 2019	0.14		10,411		5,449		15,860
2019 - 3rd Quarter	November 11, 2019	0.07		5,205		2,724		7,930
Total		$	0.40	$	29,745	$	15,567	$	45,313

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Jun. 30, 2020
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, 2019 audited consolidated financial statements and notes thereto included in CVR Energy’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”). Our condensed consolidated financial statements include the consolidated results of CVR Partners, which is defined as a variable interest entity. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments that are necessary for fair presentation of the financial position and results of operations of the Company for the periods presented. Such adjustments are of a normal recurring nature, unless otherwise disclosed. Certain reclassifications have been made within the condensed consolidated balance sheets as of December 31, 2019 and the condensed consolidated statements of operations for the three and six months ended June 30, 2019. Catalyst inventory with a value of $17 million as of December 31, 2019 was reclassified during the first quarter of 2020 to Other long-term assets to conform to 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, 2020 or any other interim or annual period.
Recent Accounting Pronouncements and Accounting Changes	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. 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.

Inventories (Tables)

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Schedule of components of inventories

Inventories consisted of the following:


(in millions)	June 30, 2020		December 31, 2019
Finished goods	$	100	$	177
Raw materials	73		112
In-process inventories	15		18
Parts, supplies and other	64		66
Total inventories	$	252	$	373

Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Summary of property, plant and equipment

Property, plant and equipment consisted of the following:



(in millions)	June 30, 2020		December 31, 2019
Machinery and equipment	$	3,877	$	3,829
Buildings and improvements	88		87
ROU finance leases	55		57
Land and improvements	47		46
Furniture and fixtures	37		35
Construction in progress	92		95
Other	14		14




	4,210		4,163
Less: Accumulated depreciation	1,916		1,827
Total property, plant and equipment, net	$	2,294	$	2,336

Leases (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2020 and December 31, 2019:


(in millions)	June 30, 2020		December 31, 2019
Operating Leases:
ROU assets, net
Pipeline and storage	$	17	$	20
Railcars	10		12
Real estate and other	15		16
Lease liability
Pipelines and storage	$	19	$	22
Railcars	10		12
Real estate and other	13		14


(in millions)	June 30, 2020		December 31, 2019
Finance Leases:
ROU assets, net
Pipeline and storage	$	28	$	29
Real estate and other	23		24
Lease liability
Pipelines and storage	$	39	$	40
Real estate and other	24		25

Lease expense, lease terms, and discount rates

For the three and six months ended June 30, 2020 and 2019, we recognized lease expense comprised of the following components:


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Operating lease expense	$	5	$	4	$	9	$	8
Finance lease expense:
Amortization of ROU	$	1	$	1	$	3	$	3
Interest expense on lease liability	2		1		3		3

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


	June 30, 2020		December 31, 2019
Weighted-average remaining lease term (years)
Operating Leases	3.3		3.7
Finance Leases	8.5		9.0
Weighted-average discount rate
Operating Leases	5.6	%	5.6	%
Finance Leases	8.9	%	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 June 30, 2020:


(in millions)	Operating Leases		Financing Leases
Remainder of 2020	$	8	$	5
2021	15		11
2022	11		11
2023	7		10
2024	4		10
Thereafter	—		43
Total lease payments	45		90
Less: imputed interest	(3)		(27)
Total lease liability	$	42	$	63

Summary of remaining minimum lease payments for finance leases

The following summarizes the remaining minimum lease payments through maturity of the Company’s right-of-use assets and liabilities at June 30, 2020:


(in millions)	Operating Leases		Financing Leases
Remainder of 2020	$	8	$	5
2021	15		11
2022	11		11
2023	7		10
2024	4		10
Thereafter	—		43
Total lease payments	45		90
Less: imputed interest	(3)		(27)
Total lease liability	$	42	$	63

Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Other Liabilities Disclosure [Abstract]

Other current liabilities

Other current liabilities were as follows:


(in millions)	June 30, 2020		December 31, 2019
Accrued taxes other than income taxes	$	29	$	28
Accrued interest	27		9
Personnel accruals	22		47
Operating lease liabilities	13		14
Accrued Renewable Fuel Standards (“RFS”) obligation	12		7
Current portion of long-term debt and finance lease obligations	7		5
Share-based compensation	6		6
Deferred revenue	3		28
Accrued income taxes	1		24
Accrued derivatives	—		7
Other accrued expenses and liabilities	13		9
Total other current liabilities	$	133	$	184

Long-Term Debt and Finance Lease Obligations (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of long-term debt and finance lease obligations

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


(in millions)	June 30, 2020		December 31, 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	(13)		(15)
Total CVR Partners debt	$	632	$	632

CVR Refining:
6.50% Senior Notes due November 2022 (2)	$	—	$	500
Finance lease obligations, net of current portion (3)	57		61
Unamortized debt issuance cost	—		(3)

Total CVR Refining debt	$	57	$	558

CVR Energy:
5.25% Senior Notes due February 2025	$	600	$	—
5.75% Senior Notes due February 2028	400		—
Unamortized debt issuance costs	(6)		—
Total CVR Energy debt	994		—
Total long-term debt and finance lease obligations, net of current portion	$	1,683	$	1,190
Current portion of long-term debt and finance lease obligations (4)	7		5
Total long-term debt and finance lease obligations, including current portion	$	1,690	$	1,195

(1)The 6.50% Notes, due April 2021, mature within 12 months, and, therefore, the outstanding balance of $2 million has been classified as short-term as of June 30, 2020.

(3)Current portion of finance lease obligations recognized was approximately $5 million and $5 million as of June 30, 2020 and December 31, 2019, respectively.

(4)Amounts reported in Other current liabilities.

Credit Facilities


(in millions)	Total Capacity		Amount Borrowed as of June 30, 2020		Outstanding Letters of Credit		Available Capacity as of June 30, 2020		Maturity Date
CVR Partners:
Asset Based (“AB”) Credit Facility (1)	$	46	$	—	$	—	$	46	September 30, 2021
CVR Refining:
Amended and Restated Asset Based (“Amended and Restated ABL”) Credit Facility (2)	$	400	$	—	$	7	$	393	November 14, 2022

- 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.

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+ Details

Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major product


	Three Months Ended June 30, 2020
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Major Product
Gasoline	$	300	$	—	$	—	$	300
Distillates (1)	246		—		—		246
Ammonia	—		37		—		37
UAN	—		55		—		55
Other urea products	—		4		—		4
Freight revenue	4		7		—		11
Other (2)	12		2		(2)		12
Revenue from product sales	562		105		(2)		665

Crude oil sales	10		—		—		10

Net sales	$	572	$	105	$	(2)	$	675



	Six Months Ended June 30, 2020
(in millions)	Petroleum		Nitrogen Fertilizer		Other / Eliminations		Consolidated
Major Product
Gasoline	$	816	$	—	$	—	$	816
Distillates (1)	720		—		—		720
Ammonia	—		51		—		51
UAN	—		102		—		102
Other urea products	—		7		—		7
Freight revenue	9		15		—		24
Other (2)	35		5		(3)		37
Revenue from product sales	1,580		180		(3)		1,757

Crude oil sales	48		—		—		48
Other revenue (2)	1		—		—		1
Net sales	$	1,629	$	180	$	(3)	$	1,806


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

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



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

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

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

(2)Other revenue consists primarily of feedstock and asphalt sales.

Summary of deferred revenue activity

A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the six months ended June 30, 2020 is presented below:


(in millions)
Balance at December 31, 2019	$	28
Add:
New prepay contracts entered into during the period (1)	18
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	16

Balance at June 30, 2020	$	3

(1) Includes $17 million where payment associated with prepaid contracts was collected as of June 30, 2020.

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

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gain on derivatives

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


Gain on Derivatives
	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Forward purchases and sales contracts, net	$	15	$	3	$	51	$	20
Commodity swap instruments	4		—		4		—
Futures contracts	1		1		10		—
Total gain on derivatives, net	$	20	$	4	$	65	$	20

Schedule of open commodity derivative instruments

Open Commodity Derivative Instruments

(in millions of barrels)

June 30, 2020

December 31, 2019

Forward purchases and sales contracts, net:

Canadian crude oil

Derivative offsetting assets


	Derivative Assets						Derivative Liabilities
(in millions)	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Commodity derivatives	$	6	$	3	$	(1)	$	(11)

Less: Counterparty netting	(1)		(3)		1		3
Total net fair value of derivatives	$	5	$	—	$	—	$	(8)

Derivative offsetting liabilities


	Derivative Assets						Derivative Liabilities
(in millions)	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Commodity derivatives	$	6	$	3	$	(1)	$	(11)

Less: Counterparty netting	(1)		(3)		1		3
Total net fair value of derivatives	$	5	$	—	$	—	$	(8)

Components of investment income from marketable securities


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Dividend income	$	3	$	—	$	4	$	—
Unrealized gain	18		—		48		—
Investment income from marketable securities	$	21	$	—	$	52	$	—

Assets and liabilities measured at fair value on a recurring basis

The following tables set forth the assets and liabilities measured or disclosed at fair value on a recurring basis, by input level, as of June 30, 2020 and December 31, 2019:


	June 30, 2020
(in millions)	Level 1		Level 2		Level 3		Total
Location and Description

Prepaid expenses and other current assets (investments)	$	188	$	—	$	—	$	188
Prepaid expenses and other current assets (commodity derivatives)	—		6		—		6

Total Assets	188		6		—		194


Other current liabilities (RFS obligation)	—		(12)		—		(12)
Long-term debt and finance lease obligations (senior notes)	—		(1,534)		—		(1,534)
Total Liabilities	$	—	$	(1,546)	$	—	$	(1,546)


	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 (senior notes)	—		(1,180)		—		(1,180)
Total Liabilities	$	—	$	(1,195)	$	—	$	(1,195)

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of share-based compensation expense

A summary of compensation expense during the three and six months ended June 30, 2020 and 2019 is presented below:



	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019

CVR Refining - Phantom Unit Awards	—		1		$	—	$	2
CVR Partners LTIP - Phantom Unit Awards	—		1		—		2
Incentive Unit Awards	2		4		1		7
Total Share-Based Compensation Expense	$	2	$	6	$	1	$	11

Business Segments (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Operating results and capital expenditures information by segment

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


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Net sales
Petroleum	$	572	$	1,552	$	1,629	$	2,949
Nitrogen Fertilizer	105		138		180		230
Other	(2)		(3)		(3)		(6)
Total	$	675	$	1,687	$	1,806	$	3,173










Operating income (loss)
Petroleum	$	5	$	163	$	(122)	$	319
Nitrogen Fertilizer	(26)		35		(31)		44
Other	(5)		(6)		(7)		(11)
Total	(26)		192		(160)		352
Interest expense, net	(31)		(26)		(67)		(52)
Investment income from marketable securities	21		—		52		—
Other (loss) income, net	(1)		3		—		6
(Loss) income before income taxes	$	(37)	$	169	$	(175)	$	306
Depreciation and amortization
Petroleum	$	50	$	52	$	99	$	101
Nitrogen Fertilizer	24		25		39		42
Other	—		1		—		2
Total	$	74	$	78	$	138	$	145
Capital expenditures (1)
Petroleum	$	22	$	17	$	63	$	38
Nitrogen Fertilizer	3		2		8		5
Other	1		3		2		3
Total	$	26	$	22	$	73	$	46

The following table summarizes total assets by segment:


(in millions)	June 30, 2020		December 31, 2019

Petroleum	$	2,872	$	3,187
Nitrogen Fertilizer	1,043		1,138
Other (2)	13		(420)
Total Assets	$	3,928	$	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 six months ended June 30, 2020.

Supplemental Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2020

Supplemental Cash Flow Elements [Abstract]

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

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


	Six Months Ended June 30,
(in millions)	2020		2019
Supplemental disclosures:
Cash (received for income taxes, net of payments) paid for income taxes, net of refunds	$	(4)	$	32
Cash paid for interest	49		52
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	8		8
Operating cash flows from finance leases	3		3
Financing cash flows from finance leases	3		3
Non-cash investing activities:

Change in capital expenditures included in accounts payable (1)	(4)		(9)

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

Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of related party transactions

Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2020 and 2019 is summarized below:

Expenses from related parties


	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2020		2019		2020		2019
Cost of materials and other
Joint Venture Transportation Agreement:
Enable	$	3	$	3	$	6	$	5


Payments made

Dividends (1)	$	28	$	53	85		106

(1)See below for a summary of the dividends paid to IEP for the six months ended June 30, 2020 and year ended December 31, 2019.

Summary of dividends paid

The following tables present dividends paid to the Company’s stockholders, including IEP, during 2020 and 2019 (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


				Dividends Paid (in millions)
Related Period	Date Paid	Dividend Per Share		Stockholders		IEP		Total
2018 - 4th Quarter	March 11, 2019	$	0.75	$	22	$	53	$	75
2019 - 1st Quarter	May 13, 2019	0.75		22		53		75
2019 - 2nd Quarter	August 12, 2019	0.75		22		53		75
2019 - 3rd Quarter	November 11, 2019	0.80		23		57		80
Total		$	3.05	$	90	$	217	$	307

The following table presents distributions paid by CVR Partners to its unitholders, including amounts paid to CVR Energy, during 2019.


				Distributions Paid (in thousands)
Related Period	Date Paid	Distribution Per Common Unit		Public Unitholders		CVR Energy		Total
2018 - 4th Quarter	March 11, 2019	$	0.12	$	8,924	$	4,670	$	13,594
2019 - 1st Quarter	May 13, 2019	0.07		5,205		2,724		7,929
2019 - 2nd Quarter	August 12, 2019	0.14		10,411		5,449		15,860
2019 - 3rd Quarter	November 11, 2019	0.07		5,205		2,724		7,930
Total		$	0.40	$	29,745	$	15,567	$	45,313

Organization and Nature of Business (Details) - USD ($)	2 Months Ended	3 Months Ended		6 Months Ended
Organization and Nature of Business (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2020	Mar. 31, 2019	Jun. 30, 2020	May 06, 2020
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			$ 335,000,000
Recognition of deferred tax liability from change in book versus tax basis in CVR Partners	$ 400,000	$ 400,000		$ 400,000
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	1,200,000		1,000,000
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	(1,600,000)		$ 334,000,000
CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of interest held by the public				65.00%
Unit Repurchase Program, authorized amount					$ 10,000,000
Common units repurchased on open market (in units)		890,218		890,218
Cost, inclusive of transaction costs, of repurchase of outstanding common units		$ 1,000,000.0		$ 1,000,000.0
Average price per common unit (in dollars per share)		$ 1.07		$ 1.07
Amount remaining under Unit Repurchase Program	$ 9,000,000.0	$ 9,000,000.0		$ 9,000,000.0
CVR Services \| CVR Partners
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by wholly-owned subsidiary				35.00%
CVR Services \| CVR GP, LLC
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Percentage of common units owned by general partner				100.00%
Majority Shareholder
Organization, Consolidation, and Presentation of Financial Statements [Line Items]
Ownership percentage held by controlling stockholder				71.00%

Basis of Presentation (Details) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reclassification out of inventory	$ (252)		$ (373)
Reclassification to other long-term assets	$ 375		$ 295
Reclassification Adjustment \| Catalyst Inventory
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Reclassification out of inventory		$ 17
Reclassification to other long-term assets		$ 17

Inventories (Details) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
Inventories (Details) - USD ($)	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Inventory Disclosure [Abstract]
Finished goods		$ 100,000,000		$ 177,000,000
Raw materials		73,000,000		112,000,000
In-process inventories		15,000,000		18,000,000
Parts, supplies and other		64,000,000		66,000,000
Total inventories		252,000,000		373,000,000
Inventory [Line Items]
Inventories, carrying amounts in excess of market value		58,000,000	$ 0
Petroleum
Inventory [Line Items]
Inventories, carrying amounts in excess of market value	$ 58,000,000	$ 0		$ 0

Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Property, Plant, and Equipment
ROU finance leases	$ 55	$ 57
Property, plant and equipment, gross	4,210	4,163
Less: Accumulated depreciation	1,916	1,827
Total property, plant and equipment, net	2,294	2,336
Machinery and equipment
Property, Plant, and Equipment
Property, plant and equipment, gross	3,877	3,829
Buildings and improvements
Property, Plant, and Equipment
Property, plant and equipment, gross	88	87
Land and improvements
Property, Plant, and Equipment
Property, plant and equipment, gross	47	46
Furniture and fixtures
Property, Plant, and Equipment
Property, plant and equipment, gross	37	35
Construction in progress
Property, Plant, and Equipment
Property, plant and equipment, gross	92	95
Other
Property, Plant, and Equipment
Property, plant and equipment, gross	$ 14	$ 14

Goodwill (Details) $ in Millions	3 Months Ended		6 Months Ended
Goodwill (Details) $ in Millions	Jun. 30, 2020 USD ($) product	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)
Goodwill [Line Items]
Impairment of goodwill	$ 41	$ 0	$ 41	$ 0
Nitrogen Fertilizer
Goodwill [Line Items]
Goodwill					$ 41
Number of primary products experiencing significant pricing declines \| product	2

Leases - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Minimum
Lessee, Lease, Description [Line Items]
Renewal term	1 year
Minimum \| Subsequent Event
Lessee, Lease, Description [Line Items]
Financing lease not yet commenced, amount expected to be capitalized at commencement		$ 20
Maximum
Lessee, Lease, Description [Line Items]
Renewal term	20 years
Maximum \| Subsequent Event
Lessee, Lease, Description [Line Items]
Financing lease not yet commenced, amount expected to be capitalized at commencement		$ 25

Leases - Balance Sheet Summary (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Operating Leases:
Lease liability	$ 42
Finance Leases:
Lease liability	63
Pipeline and storage
Operating Leases:
ROU assets, net	17	$ 20
Lease liability	19	22
Finance Leases:
ROU assets, net	28	29
Lease liability	39	40
Railcars
Operating Leases:
ROU assets, net	10	12
Lease liability	10	12
Real estate and other
Operating Leases:
ROU assets, net	15	16
Lease liability	13	14
Finance Leases:
ROU assets, net	23	24
Lease liability	$ 24	$ 25

Leases - Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Leases - Lease Expense (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating lease expense	$ 5	$ 4	$ 9	$ 8
Finance lease expense:
Amortization of ROU	1	1	3	3
Interest expense on lease liability	2	1	3	3
Short-term lease expense	$ 2	$ 2	$ 4	$ 4

Leases - Lease Terms and Discount Rates (Details)	Jun. 30, 2020	Dec. 31, 2019
Weighted-average remaining lease term (years)
Operating Leases	3 years 3 months 18 days	3 years 8 months 12 days
Finance Leases	8 years 6 months	9 years
Weighted-average discount rate
Operating Leases	5.60%	5.60%
Finance Leases	8.90%	8.90%

Leases - Remaining Minimum Lease Payments (Details) $ in Millions	Jun. 30, 2020 USD ($)
Operating Leases
Remainder of 2020	$ 8
2021	15
2022	11
2023	7
2024	4
Thereafter	0
Total lease payments	45
Less: imputed interest	(3)
Total lease liability	42
Financing Leases
Remainder of 2020	5
2021	11
2022	11
2023	10
2024	10
Thereafter	43
Total lease payments	90
Less: imputed interest	(27)
Total lease liability	$ 63

Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Accrued taxes other than income taxes	$ 29	$ 28
Accrued interest	27	9
Personnel accruals	22	47
Operating lease liabilities	13	14
Accrued Renewable Fuel Standards (“RFS”) obligation	12	7
Current portion of long-term debt and finance lease obligations	7	5
Share-based compensation	6	6
Deferred revenue	3	28
Accrued income taxes	1	24
Accrued derivatives	0	7
Other accrued expenses and liabilities	13	9
Total other current liabilities	$ 133	$ 184

Long-Term Debt and Finance Lease Obligations - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Jan. 27, 2020	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total long-term debt and finance lease obligations, net of current portion		$ 1,683	$ 1,190
Current portion of long-term debt and finance lease obligations		7	5
Total long-term debt and finance lease obligations, including current portion		1,690	1,195
CVR Energy
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs		(6)	0
Total Long-Term Debt		994	0
CVR Energy \| Senior Notes \| 5.25% 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%	5.25%
CVR Energy \| Senior Notes \| 5.75% 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%	5.75%
CVR Partners
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs		$ (13)	(15)
Total Long-Term Debt		632	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%
CVR Partners \| Senior Notes \| 6.50% Senior Notes due April 2021, net of current portion
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		$ 2
CVR Refining
Debt Instrument [Line Items]
Finance lease obligations, net of current portion		57	61
Unamortized discount and debt issuance costs		0	(3)
Total long-term debt and finance lease obligations, net of current portion		57	558
Current portion of finance lease obligations		5	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%
Redemption price percentage	101.083%

Long-Term Debt and Finance Lease Obligations - Additional Information (Details) - USD ($)		3 Months Ended	6 Months Ended
	Jan. 27, 2020	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Debt Instrument [Line Items]
Payment for redemption of debt			$ 500,000,000	$ 0
Call premiums paid			$ 5,000,000	$ 0
2022 Notes \| Senior Notes \| CVR Refining
Debt Instrument [Line Items]
Accrued interest settled upon redemption	$ 8,000,000
Payment for redemption of debt	$ 505,000,000
Redemption of notes, percentage of par value at which notes were repurchased	101.083%
Loss on extinguishment of debt		$ 8,000,000
Call premiums paid		5,000,000
Write-off of unamortized deferred financing costs		$ 3,000,000
Stated interest rate	6.50%		6.50%
2025 Notes \| Senior Notes \| CVR Energy
Debt Instrument [Line Items]
Aggregate principal amount of private offering	$ 600,000,000
Stated interest rate	5.25%		5.25%
2028 Notes \| Senior Notes \| CVR Energy
Debt Instrument [Line Items]
Aggregate principal amount of private offering	$ 400,000,000
Stated interest rate	5.75%		5.75%

Long-Term Debt and Finance Lease Obligations - Credit Facilities Outstanding (Details) - Line of Credit - Revolving Credit Facility	6 Months Ended
	Jun. 30, 2020 USD ($)
CVR Partners \| Asset Based (AB) Credit Facility
Line of Credit Facility [Line Items]
Total Capacity	$ 46,000,000
Amount Borrowed	0
Outstanding Letters of Credit	0
Available Capacity	$ 46,000,000
CVR Partners \| Asset Based (AB) Credit Facility \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
CVR Partners \| Asset Based (AB) Credit Facility \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Variable rate step-down	0.50%
CVR Refining \| Amended and Restated Asset Based (Amended and Restated ABL) Credit Facility
Line of Credit Facility [Line Items]
Total Capacity	$ 400,000,000
Amount Borrowed	0
Outstanding Letters of Credit	7,000,000
Available Capacity	$ 393,000,000
CVR Refining \| Amended and Restated Asset Based (Amended and Restated ABL) Credit Facility \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
CVR Refining \| Amended and Restated Asset Based (Amended and Restated ABL) Credit Facility \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%

Revenue - Revenue Disaggregated by Major Product (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 675	$ 1,687	$ 1,806	$ 3,173
Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	665	1,678	1,757	3,138
Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	300	816	816	1,490
Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	246	689	720	1,344
Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	37	50	51	63
UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	55	74	102	138
Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	4	5	7	10
Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	11	13	24	26
Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	12	31	37	67
Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	10	6	48	29
Other revenue
Disaggregation of Revenue [Line Items]
Other revenue		3	1	6
Operating Segments \| Petroleum
Disaggregation of Revenue [Line Items]
Net sales	572	1,552	1,629	2,949
Operating Segments \| Petroleum \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	562	1,545	1,580	2,918
Operating Segments \| Petroleum \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	300	816	816	1,490
Operating Segments \| Petroleum \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	246	689	720	1,344
Operating Segments \| Petroleum \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Petroleum \| UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Petroleum \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Petroleum \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	4	6	9	11
Operating Segments \| Petroleum \| Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	12	34	35	73
Operating Segments \| Petroleum \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	10	6	48	29
Operating Segments \| Petroleum \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue		1	1	2
Operating Segments \| Nitrogen Fertilizer
Disaggregation of Revenue [Line Items]
Net sales	105	138	180	230
Operating Segments \| Nitrogen Fertilizer \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	105	136	180	226
Operating Segments \| Nitrogen Fertilizer \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Nitrogen Fertilizer \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Nitrogen Fertilizer \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	37	50	51	63
Operating Segments \| Nitrogen Fertilizer \| UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	55	74	102	138
Operating Segments \| Nitrogen Fertilizer \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	4	5	7	10
Operating Segments \| Nitrogen Fertilizer \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	7	7	15	15
Operating Segments \| Nitrogen Fertilizer \| Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	2	0	5	0
Operating Segments \| Nitrogen Fertilizer \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Operating Segments \| Nitrogen Fertilizer \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue		2	0	4
Other / Eliminations
Disaggregation of Revenue [Line Items]
Net sales	(2)	(3)	(3)	(6)
Other / Eliminations \| Revenue from product sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	(2)	(3)	(3)	(6)
Other / Eliminations \| Gasoline
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Distillates
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Ammonia
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| UAN
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Other urea products
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Freight revenue
Disaggregation of Revenue [Line Items]
Revenue from product sales	0	0	0	0
Other / Eliminations \| Other
Disaggregation of Revenue [Line Items]
Revenue from product sales	(2)	(3)	(3)	(6)
Other / Eliminations \| Crude oil sales
Disaggregation of Revenue [Line Items]
Revenue from product sales	$ 0	0	0	0
Other / Eliminations \| Other revenue
Disaggregation of Revenue [Line Items]
Other revenue		$ 0	$ 0	$ 0

Revenue - Additional information (Details)	6 Months Ended
Revenue - Additional information (Details)	Jun. 30, 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 $ in Millions	Jun. 30, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1
Remaining performance obligation, expected timing of satisfaction, period	6 months
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	$ 4
Remaining performance obligation, expected timing of satisfaction, period

Revenue - Deferred Revenue (Details) $ in Millions	6 Months Ended
Revenue - Deferred Revenue (Details) $ in Millions	Jun. 30, 2020 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Balance at beginning of period	$ 28
Less:
Balance at end of period	3
Prepaid contracts, payment collected	17
Nitrogen Fertilizer
Change in Contract with Customer, Liability [Roll Forward]
Balance at beginning of period	28
Add:
New prepay contracts entered into during the period	18
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	16
Balance at end of period	$ 3

Derivative Financial Instruments, Investments and Fair Value Measurements - Additional Information (Details)	Jun. 30, 2020 derivative
Commodity Swap Postions
Derivative [Line Items]
Outstanding positions	0
Forward Contracts \| Purchase Commitments
Derivative [Line Items]
Outstanding positions	2,000,000
Forward Contracts \| Sale Commitments
Derivative [Line Items]
Outstanding positions	1,000,000
RINs
Derivative [Line Items]
Outstanding positions	5,000,000

Derivative Financial Instruments, Investments and Fair Value Measurements - Schedule of Gains on Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Total gain on derivatives, net	$ 20	$ 4	$ 65	$ 20
Forward purchases and sales contracts, net
Derivative Instruments, Gain (Loss) [Line Items]
Total gain on derivatives, net	15	3	51	20
Commodity swap instruments
Derivative Instruments, Gain (Loss) [Line Items]
Total gain on derivatives, net	4	0	4	0
Futures contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total gain on derivatives, net	$ 1	$ 1	$ 10	$ 0

Derivative Financial Instruments, Investments and Fair Value Measurements - Open Commodity Derivative Instruments (Details) - bbl bbl in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Canadian crude oil
Derivative [Line Items]
Number of barrels	3	5

Derivative Financial Instruments, Investments and Fair Value Measurements - Schedule of Offsetting Assets and Liabilities (Details) - Commodity derivatives - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current Assets
Derivative Assets
Commodity derivatives	$ 6	$ 3
Less: Counterparty netting	(1)	(3)
Total net fair value of derivatives	5	0
Current Liabilities
Derivative Liabilities
Commodity derivatives	(1)	(11)
Less: Counterparty netting	1	3
Total net fair value of derivatives	$ 0	$ (8)

Derivative Financial Instruments, Investments and Fair Value Measurements - Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Dividend income	$ 3	$ 0	$ 4	$ 0
Unrealized gain	18	0	48	0
Investment income from marketable securities	$ 21	$ 0	$ 52	$ 0

Derivative Financial Instruments, Investments and Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fair value measurements
Prepaid expenses and other current assets (investments)	$ 188
Total Assets	194
Long-term debt and finance lease obligations (senior notes)	(1,534)	$ (1,180)
Total Liabilities	(1,546)	(1,195)
Commodity derivatives
Fair value measurements
Prepaid expenses and other current assets (commodity derivatives)	6
Other current liabilities (commodity derivatives)		(8)
RFS obligation
Fair value measurements
Other current liabilities (RFS obligation)	(12)	(7)
Level 1
Fair value measurements
Prepaid expenses and other current assets (investments)	188
Total Assets	188
Long-term debt and finance lease obligations (senior notes)	0	0
Total Liabilities	0	0
Level 1 \| Commodity derivatives
Fair value measurements
Prepaid expenses and other current assets (commodity derivatives)	0
Other current liabilities (commodity derivatives)		0
Level 1 \| RFS obligation
Fair value measurements
Other current liabilities (RFS obligation)	0	0
Level 2
Fair value measurements
Prepaid expenses and other current assets (investments)	0
Total Assets	6
Long-term debt and finance lease obligations (senior notes)	(1,534)	(1,180)
Total Liabilities	(1,546)	(1,195)
Level 2 \| Commodity derivatives
Fair value measurements
Prepaid expenses and other current assets (commodity derivatives)	6
Other current liabilities (commodity derivatives)		(8)
Level 2 \| RFS obligation
Fair value measurements
Other current liabilities (RFS obligation)	(12)	(7)
Level 3
Fair value measurements
Prepaid expenses and other current assets (investments)	0
Total Assets	0
Long-term debt and finance lease obligations (senior notes)	0	0
Total Liabilities	0	0
Level 3 \| Commodity derivatives
Fair value measurements
Prepaid expenses and other current assets (commodity derivatives)	0
Other current liabilities (commodity derivatives)		0
Level 3 \| RFS obligation
Fair value measurements
Other current liabilities (RFS obligation)	$ 0	$ 0

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-Based Compensation
Total Share-Based Compensation Expense	$ 2	$ 6	$ 1	$ 11
Incentive Unit Awards
Share-Based Compensation
Total Share-Based Compensation Expense	2	4	1	7
CVR Refining \| Phantom Units Award
Share-Based Compensation
Total Share-Based Compensation Expense	0	1	0	2
CVR Partners \| CVR Partners LTIP \| Phantom Units Award
Share-Based Compensation
Total Share-Based Compensation Expense	$ 0	$ 1	$ 0	$ 2

Commitments and Contingencies - Crude Oil Supply Agreement (Details) - Crude Oil Supply Agreement		3 Months Ended		6 Months Ended
	Aug. 31, 2012	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Loss Contingencies [Line Items]
Renewal term of agreement	1 year
Notice of nonrenewal period prior to expiration	180 days
Petroleum Segment \| Contracted Volume \| Supplier Concentration Risk
Loss Contingencies [Line Items]
Volume contracted throughout Vitol as percentage of total crude oil purchases		38.00%	40.00%	28.00%	40.00%

Commitments and Contingencies - RFS (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Petroleum Segment \| Environmental, Health, and Safety Matters
Loss Contingencies [Line Items]
Expense recognized for compliance with RFS	$ 16	$ 21	$ 35	$ 33

Commitments and Contingencies - Litigation (Details)	1 Months Ended
Commitments and Contingencies - Litigation (Details)	Apr. 30, 2020 claimant	Jan. 31, 2020 claimant	Apr. 06, 2020 contract
WRC and Others \| Small Refinery Exemption
Loss Contingencies [Line Items]
Number of refineries whose SREs were vacated under RFS program under the CAA	3
WRC \| Small Refinery Exemption
Loss Contingencies [Line Items]
Number of refineries whose SREs were vacated under RFS program under the CAA		1
CVR Energy, CVR Refining and General Partner, CVR Refining Holdings, IEP and CEO \| Call Option Lawsuits
Loss Contingencies [Line Items]
Number of lawsuits filed \| contract			9

Business Segments - Additional Information (Details)	6 Months Ended
Business Segments - Additional Information (Details)	Jun. 30, 2020 segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segments - Summary of Operating Results and Capital Expenditures by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 675	$ 1,687	$ 1,806	$ 3,173
Operating income (loss)	(26)	192	(160)	352
Interest expense, net	(31)	(26)	(67)	(52)
Investment income from marketable securities	21	0	52	0
Other (loss) income, net	(1)	3	0	6
(Loss) income before income tax expense	(37)	169	(175)	306
Depreciation and amortization	74	78	138	145
Capital expenditures	26	22	73	46
Total Assets	3,928		3,928		$ 3,905
Operating Segments \| Petroleum
Segment Reporting Information [Line Items]
Net sales	572	1,552	1,629	2,949
Operating income (loss)	5	163	(122)	319
Depreciation and amortization	50	52	99	101
Capital expenditures	22	17	63	38
Total Assets	2,872		2,872		3,187
Operating Segments \| Nitrogen Fertilizer
Segment Reporting Information [Line Items]
Net sales	105	138	180	230
Operating income (loss)	(26)	35	(31)	44
Depreciation and amortization	24	25	39	42
Capital expenditures	3	2	8	5
Total Assets	1,043		1,043		1,138
Other
Segment Reporting Information [Line Items]
Net sales	(2)	(3)	(3)	(6)
Operating income (loss)	(5)	(6)	(7)	(11)
Depreciation and amortization	0	1	0	2
Capital expenditures	1	$ 3	2	$ 3
Total Assets	$ 13		$ 13		$ (420)

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Supplemental disclosures:
Cash (received for income taxes, net of payments) paid for income taxes, net of refunds	$ (4)	$ 32
Cash paid for interest	49	52
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	8	8
Operating cash flows from finance leases	3	3
Financing cash flows from finance leases	3	3
Non-cash investing activities:
Change in capital expenditures included in accounts payable	$ (4)	$ (9)

Related Party Transactions - Expenses from Related Parties (Details) - USD ($) $ in Millions							3 Months Ended		6 Months Ended		12 Months Ended
	May 26, 2020	Mar. 09, 2020	Nov. 11, 2019	Aug. 12, 2019	May 13, 2019	Mar. 11, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Cost of materials and other							$ 444	$ 1,267	$ 1,501	$ 2,368
Dividends	$ 40	$ 80	$ 80	$ 75	$ 75	$ 75			121	150	$ 307
Enable \| Joint Venture Transportation Agreement
Related Party Transaction [Line Items]
Cost of materials and other							3	3	6	5
IEP
Related Party Transaction [Line Items]
Dividends	$ 28	$ 57	$ 57	$ 53	$ 53	$ 53	$ 28	$ 53	$ 85	$ 106	$ 217

Related Party Transactions - Agency Arrangement With IEP (Details) - USD ($) $ in Millions		6 Months Ended
	Feb. 04, 2020	Jun. 30, 2020	Jun. 30, 2019
Related Party Transaction [Line Items]
Investment in certain marketable securities		$ 140	$ 0
Agency Agreement with IEP \| IEH
Related Party Transaction [Line Items]
Investment in certain marketable securities	$ 140

Related Party Transactions - Summary of Dividends Paid (Details) - USD ($)							3 Months Ended		6 Months Ended		12 Months Ended
	May 26, 2020	Mar. 09, 2020	Nov. 11, 2019	Aug. 12, 2019	May 13, 2019	Mar. 11, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Dividends declared per share (in dollars per share)							$ 0
Dividend Per Share (in dollars per share)	$ 0.40	$ 0.80	$ 0.80	$ 0.75	$ 0.75	$ 0.75	$ 0.40	$ 0.75	$ 1.20	$ 1.50	$ 3.05
Dividends Paid	$ 40,000,000	$ 80,000,000	$ 80,000,000	$ 75,000,000	$ 75,000,000	$ 75,000,000			$ 121,000,000	$ 150,000,000	$ 307,000,000
CVR Partners
Related Party Transaction [Line Items]
Distributions declared							$ 0
Distribution Per Common Unit (in dollars per share)			$ 0.07	$ 0.14	$ 0.07	$ 0.12					$ 0.40
Distributions Paid			$ 7,930,000	$ 15,860,000	$ 7,929,000	$ 13,594,000			0		$ 45,313,000
CVR Energy \| CVR Partners
Related Party Transaction [Line Items]
Distributions Paid			2,724,000	5,449,000	2,724,000	4,670,000					15,567,000
IEP
Related Party Transaction [Line Items]
Dividends Paid	28,000,000	57,000,000	57,000,000	53,000,000	53,000,000	53,000,000	$ 28,000,000	$ 53,000,000	85,000,000	$ 106,000,000	217,000,000
Stockholders
Related Party Transaction [Line Items]
Dividends Paid	$ 12,000,000	$ 23,000,000	23,000,000	22,000,000	22,000,000	22,000,000			$ 35,000,000		90,000,000
Public Unitholders \| CVR Partners
Related Party Transaction [Line Items]
Distributions Paid			$ 5,205,000	$ 10,411,000	$ 5,205,000	$ 8,924,000					$ 29,745,000