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Selected Quarterly Financial Information (unaudited) (Tables)

12 Months Ended

Dec. 31, 2012

Selected Quarterly Financial Information (unaudited)

Summary of quarterly financial data

		Year Ended December 31, 2012
		Quarter
		First			Second			Third			Fourth
		(in thousands except share data)
Net sales		$	1,968,631		$	2,308,318		$	2,409,624		$	1,880,754
Operating costs and expenses:
Cost of product sold (exclusive of depreciation and amortization)			1,635,155			1,874,210			1,702,452			1,485,095
Direct operating expenses (exclusive of depreciation and amortization)			115,514			94,099			109,929			202,533
Selling, general and administrative (exclusive of depreciation and amortization)			45,342			72,047			30,390			35,641
Depreciation and amortization			32,112			32,190			33,109			32,594
Total operating costs and expenses			1,828,123			2,072,546			1,875,880			1,755,863
Operating income			140,508			235,772			533,744			124,891
Other income (expense):
Interest expense and other financing costs			(19,253	)		(18,974	)		(18,962	)		(18,246	)
Interest income			90			133			292			352
Realized loss on derivatives, net			(19,086	)		(8,069	)		(53,271	)		(57,139	)
Unrealized gain (loss) on derivatives, net			(128,167	)		46,886			(115,699	)		48,953
Loss on extinguishment of debt			—			—			—			(37,540	)
Other income (expense), net			117			709			(32	)		166
Total other income (expense)			(166,299	)		20,685			(187,672	)		(63,454	)
Income (loss) before income tax expense			(25,791	)		256,457			346,072			61,437
Income tax expense (benefit)			(9,746	)		91,099			127,618			16,613
Net income (loss)			(16,045	)		165,358			218,454			44,824
Less: Net income attributable to noncontrolling interest			9,157			10,624			9,558			4,647
Net income (loss) attributable to CVR Energy stockholders		$	(25,202	)	$	154,734		$	208,896		$	40,177
Net earnings (loss) per share
Basic		$	(0.29	)	$	1.78		$	2.41		$	0.46
Diluted		$	(0.29	)	$	1.75		$	2.41		$	0.46
Weighted-average common shares outstanding
Basic			86,808,150			86,821,224			86,831,050			86,831,050
Diluted			86,808,150			88,454,006			86,831,050			86,831,050

		Year Ended December 31, 2011
		Quarter
		First			Second			Third			Fourth
		(in thousands except share data)
Net sales		$	1,167,265		$	1,447,716		$	1,351,964		$	1,062,168
Operating costs and expenses:
Cost of product sold (exclusive of depreciation and amortization)			936,822			1,123,375			1,026,040			857,277
Direct operating expenses (exclusive of depreciation and amortization)			68,434			66,207			74,615			124,796
Insurance recovery — business interruption			(2,870	)		—			(490	)		—
Selling, general and administrative (exclusive of depreciation and amortization)			33,262			18,171			17,584			28,973
Depreciation and amortization			22,011			22,043			22,025			24,242
Total operating costs and expenses			1,057,659			1,229,796			1,139,774			1,035,288
Operating income			109,606			217,920			212,190			26,880
Other income (expense):
Interest expense and other financing costs			(13,190	)		(14,205	)		(13,757	)		(14,657	)
Interest income (expense)			274			211			93			(89	)
Realized gain (loss) on derivatives, net			(18,848	)		484			66			11,116
Unrealized gain (loss) on derivatives, net			(3,258	)		6,448			(9,991	)		92,063
Loss on extinguishment of debt			(1,908	)		(170	)		—			—
Other income, net			231			246			243			124
Total other income (expense)			(36,699	)		(6,986	)		(23,346	)		88,557
Income before income tax expense			72,907			210,934			188,844			115,437
Income tax expense			27,119			76,738			68,603			37,103
Net income			45,788			134,196			120,241			78,334
Less: Net income attributable to noncontrolling interest			—			9,331			10,976			12,476
Net income attributable to CVR Energy stockholders		$	45,788		$	124,865		$	109,265		$	65,858
Net earnings per share
Basic		$	0.53		$	1.44		$	1.26		$	0.76
Diluted		$	0.52		$	1.42		$	1.25		$	0.75
Weighted-average common shares outstanding
Basic			86,413,781			86,422,881			86,549,846			86,852,800
Diluted			87,783,857			87,789,351			87,743,600			87,746,843

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- Definition

Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Topic 270

-SubTopic 10

-Publisher FASB

-Number

-Article

-Subparagraph (a)-(j)

-Name Accounting Standards Codification

-Paragraph 1

-Section 50

-URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306

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