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Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2012

Schedule of service phantom interest and performance phantom interest values

	March 31, 2011

Service Phantom interest (per point)	$	13.14
Performance Phantom interest (per point)	$	22.62

Long-Term Incentive Plan

Share-based Compensation

Summary of the status of non-vested shares

			Weighted- Average Grant-Date Fair Value

Non-vested at January 1, 2012	1,634,154		$	14.61
Granted	44,662			21.57
Vested	—			—
Forfeited	(19,333	)		10.21

Non-vested at March 31, 2012	1,659,483		$	14.73

CALLC and CALLC II

Share-based Compensation

Schedule of significant assumption used in the valuation of the Units

		March 31, 2011

Estimated forfeiture rate		None
Derived Service Period		Based on forfeiture schedule
Estimated fair value (per unit)		$2.82
Marketability and minority interest discount		5.0%
Volatility		47.0%

CALLC, CALLC II and CALLC III

Share-based Compensation

Schedule of key information for share-based compensation plans related to override units

Award Type	Benchmark Value (per Unit)			Grant Date	Compensation Expense Increase (Decrease) for the Three Months Ended March 31, 2011

					(in thousands)
Override Value Units(a)	$	11.31	1,839,265	June 2005		4,987
Override Value Units(b)	$	34.72	144,966	December 2006		515
Override Units(c)	$	10.00	642,219	February 2008		135

Total					$	5,637

Override Value Units | CALLC and CALLC II

Share-based Compensation

Schedule of significant assumption used in the valuation of the Units

	(a) Override Value Units March 31, 2011	(b) Override Value Units March 31, 2011

Estimated forfeiture rate	None	None
Derived service period	6 years	6 years
CVR closing stock price	$23.16	$23.16
Estimated weighted-average fair value (per unit)	$22.61	$13.70
Marketability and minority interest discounts	5.0%	5.0%
Volatility	47.1%	47.1%

(c) Override Units—Using a probability-weighted expected return method which utilized CALLC III's cash flow projections and included expected future earnings and the anticipated timing of IDRs, the estimated grant date fair value of the override units was approximately $3,000. As a non-contributing investor, CVR also recognized income equal to the amount that its interest in the investee's net book value has increased (that is its percentage share of the contributed capital recognized by the investee) as a result of the disproportionate funding of the compensation cost. Of the 642,219 units issued, 109,720 were immediately vested upon issuance and the remaining units are subject to a forfeiture schedule.

CVR Partners' Long-Term Incentive Plan

Share-based Compensation

Summary of the status of non-vested shares

	Units		Weighted- Average Grant Date Fair Value

	(in thousands)
Non-vested at January 1, 2012		164,571	$	22.99
Granted		—		—
Vested		—		—
Forfeited		—		—

Non-vested at March 31, 2012		164,571	$	22.99