XML 60 R23.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Related Party Transactions | 9 Months Ended
--- | ---
Sep. 30, 2014
Related Party Transactions [Abstract] |
Related Party Transactions | (14) Related Party Transactions Icahn Enterprises In May 2012, IEP announced that it had acquired control of CVR pursuant to a tender offer to purchase all of the issued and outstanding shares of the Company's common stock. As of September 30, 2014, IEP owned approximately 82% of all common shares outstanding. The following is a summary of the quarterly and special dividends paid to the Company's stockholders, including IEP, during 2014:
| December 31, 2013 |  | March 31, 2014 |  | June 30, 2014 |  | July 17, 2014 |  | Total Dividends Paid in 2014
| (in millions, except per share data)
| Quarterly |  |  | Quarterly |  |  | Quarterly |  |  | Special |  |  |
Amount paid to IEP | $ | 53.4 |  |  | $ | 53.4 |  |  | $ | 53.4 |  |  | $ | 142.4 |  |  | $ | 302.6 |
Amounts paid to public stockholders | 11.7 |  |  | 11.7 |  |  | 11.7 |  |  | 31.3 |  |  | 66.4 |
Total amount paid | $ | 65.1 |  |  | $ | 65.1 |  |  | $ | 65.1 |  |  | $ | 173.7 |  |  | $ | 369.0 |
Per common share | $ | 0.75 |  |  | $ | 0.75 |  |  | $ | 0.75 |  |  | $ | 2.00 |  |  | $ | 4.25 |
Shares outstanding | 86.8 |  |  | 86.8 |  |  | 86.8 |  |  | 86.8 |  |  |
American Railcar Industries, Inc. In the second quarter of 2014, the Nitrogen Fertilizer Partnership entered into a contract to purchase approximately 50 new UAN railcars from American Railcar Industries, Inc. (“ARI”), an affiliate of IEP, for approximately $6.7 million. The Nitrogen Fertilizer Partnership has received 25 new UAN railcars in the third quarter of 2014 and expects the delivery of the remaining new railcars from ARI will be completed by December 2014. During each of the three and nine months ended September 30, 2014, the Nitrogen Fertilizer Partnership paid approximately $3.3 million for the delivered railcars. ARI performed railcar maintenance for the Nitrogen Fertilizer Partnership starting in 2014. The expenses associated with this maintenance were approximately $50,000 for each of the three and nine months ended September 30, 2014. Tax Allocation Agreement On May 19, 2012, CVR became a member of the consolidated federal tax group of AEPC, a wholly-owned subsidiary of IEP, and subsequently entered into a tax allocation agreement with AEPC (the “Tax Allocation Agreement”). The Tax Allocation Agreement provides that AEPC will pay all consolidated federal income taxes on behalf of the consolidated tax group. CVR is required to make payments to AEPC in an amount equal to the tax liability, if any, that it would have paid if it were to file as a consolidated group separate and apart from AEPC. As of September 30, 2014, the Company has recorded approximately $15.8 million for federal income taxes due to AEPC under the Tax Allocation Agreement. During the three months ended September 30, 2014 and 2013, the Company paid $22.0 million and $95.0 million, respectively, to AEPC under the Tax Allocation Agreement. During the nine months ended September 30, 2014 and 2013, the Company paid $120.1 million and $234.0 million, respectively, to AEPC under the Tax Allocation Agreement. Insight Portfolio Group Insight Portfolio Group LLC (“Insight Portfolio Group”) is an entity formed by Mr. Icahn in order to maximize the potential buying power of a group of entities with which Mr. Icahn has a relationship in negotiating with a wide range of suppliers of goods, services and tangible and intangible property at negotiated rates. In January 2013, CVR Energy acquired a minority equity interest in Insight Portfolio Group and agreed to pay a portion of Insight Portfolio Group’s operating expenses in 2013 and subsequent periods. The Company paid Insight Portfolio Group approximately $0.2 million and $0 during the three months ended September 30, 2014 and 2013, respectively. The Company paid Insight Portfolio Group approximately $0.3 million and $0.1 million during the nine months ended September 30, 2014 and 2013, respectively. The Company may purchase a variety of goods and services as a member of the buying group at prices and terms that management believes would be more favorable than those which would be achieved on a stand-alone basis.

X
- Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph b -Article 3A Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration