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Selected Quarterly Financial Information (unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract] |
Summary of quarterly financial data | Summarized quarterly financial data for December 31, 2014 and 2013.
| Year Ended December 31, 2014
| Quarter
| First |  | Second |  | Third |  | Fourth
| (in millions except per share data)
Net sales | $ | 2,447.4 |  |  | $ | 2,540.3 |  |  | $ | 2,279.9 |  |  | $ | 1,841.8 |
Operating costs and expenses: |  |  |  |  |  |  |
Cost of product sold (exclusive of depreciation and amortization) | 2,076.9 |  |  | 2,189.0 |  |  | 2,066.7 |  |  | 1,733.4 |
Direct operating expenses (exclusive of depreciation and amortization) | 123.4 |  |  | 120.1 |  |  | 136.8 |  |  | 134.7 |
Selling, general and administrative (exclusive of depreciation and amortization) | 26.3 |  |  | 28.0 |  |  | 31.8 |  |  | 23.5 |
Depreciation and amortization | 37.3 |  |  | 38.6 |  |  | 37.8 |  |  | 40.8 |
Total operating costs and expenses | 2,263.9 |  |  | 2,375.7 |  |  | 2,273.1 |  |  | 1,932.4 |
Operating income (loss) | 183.5 |  |  | 164.6 |  |  | 6.8 |  |  | (90.6 | )
Other income (expense): |  |  |  |  |  |  |
Interest expense and other financing costs | (10.1 | ) |  | (9.3 | ) |  | (9.4 | ) |  | (11.2 | )
Interest income | 0.2 |  |  | 0.2 |  |  | 0.3 |  |  | 0.2 |
Gain on derivatives, net | 109.4 |  |  | 35.9 |  |  | 25.7 |  |  | 14.5 |
Other income (expense), net | 0.1 |  |  | (2.2 | ) |  | 2.1 |  |  | (3.6 | )
Total other income (expense) | 99.6 |  |  | 24.6 |  |  | 18.7 |  |  | (0.1 | )
Income (loss) before income taxes | 283.1 |  |  | 189.2 |  |  | 25.5 |  |  | (90.7 | )
Income tax expense (benefit) | 69.4 |  |  | 45.2 |  |  | 4.2 |  |  | (21.0 | )
Net income (loss) | 213.7 |  |  | 144.0 |  |  | 21.3 |  |  | (69.7 | )
Less: Net income (loss) attributable to noncontrolling interest | 87.0 |  |  | 60.3 |  |  | 13.4 |  |  | (25.3 | )
Net income (loss) attributable to CVR Energy Stockholders | $ | 126.7 |  |  | $ | 83.7 |  |  | $ | 7.9 |  |  | $ | (44.4 | )
Basic earnings (loss) per share | $ | 1.46 |  |  | $ | 0.96 |  |  | $ | 0.09 |  |  | $ | (0.51 | )
Diluted earnings (loss) per share | $ | 1.46 |  |  | $ | 0.96 |  |  | $ | 0.09 |  |  | $ | (0.51 | )
Dividends declared per share | $ | 0.75 |  |  | $ | 0.75 |  |  | $ | 2.75 |  |  | $ | 0.75 |
Weighted-average common shares outstanding |  |  |  |  |  |  |
Basic | 86.8 |  |  | 86.8 |  |  | 86.8 |  |  | 86.8 |
Diluted | 86.8 |  |  | 86.8 |  |  | 86.8 |  |  | 86.8 |
| Year Ended December 31, 2013
| Quarter
| First |  | Second |  | Third |  | Fourth
| (in millions except per share data)
Net sales | $ | 2,352.4 |  |  | $ | 2,220.3 |  |  | $ | 1,977.1 |  |  | $ | 2,436.0 |
Operating costs and expenses: |  |  |  |  |  |  |
Cost of product sold (exclusive of depreciation and amortization) | 1,813.6 |  |  | 1,785.4 |  |  | 1,744.4 |  |  | 2,219.7 |
Direct operating expenses (exclusive of depreciation and amortization) | 108.5 |  |  | 108.3 |  |  | 128.4 |  |  | 110.6 |
Selling, general and administrative (exclusive of depreciation and amortization) | 28.4 |  |  | 28.9 |  |  | 27.7 |  |  | 28.6 |
Depreciation and amortization | 34.2 |  |  | 35.0 |  |  | 36.2 |  |  | 37.4 |
Total operating costs and expenses | 1,984.7 |  |  | 1,957.6 |  |  | 1,936.7 |  |  | 2,396.3 |
Operating income | 367.7 |  |  | 262.7 |  |  | 40.4 |  |  | 39.7 |
Other income (expense): |  |  |  |  |  |  |
Interest expense and other financing costs | (15.4 | ) |  | (12.5 | ) |  | (11.7 | ) |  | (10.9 | )
Interest income | 0.3 |  |  | 0.3 |  |  | 0.3 |  |  | 0.3 |
Gain (loss) on derivatives, net | (20.0 | ) |  | 120.5 |  |  | 72.5 |  |  | (115.9 | )
Loss on extinguishment of debt | (26.1 | ) |  | — |  |  | — |  |  | — |
Other income, net | — |  |  | 0.2 |  |  | 6.2 |  |  | 7.1 |
Total other income (expense) | (61.2 | ) |  | 108.5 |  |  | 67.3 |  |  | (119.4 | )
Income (loss) before income taxes | 306.5 |  |  | 371.2 |  |  | 107.7 |  |  | (79.7 | )
Income tax expense (benefit) | 93.8 |  |  | 99.5 |  |  | 29.5 |  |  | (39.1 | )
Net income (loss) | 212.7 |  |  | 271.7 |  |  | 78.2 |  |  | (40.6 | )
Less: Net income (loss) attributable to noncontrolling interest | 47.7 |  |  | 88.3 |  |  | 34.2 |  |  | (18.9 | )
Net income (loss) attributable to CVR Energy Stockholders | $ | 165.0 |  |  | $ | 183.4 |  |  | $ | 44.0 |  |  | $ | (21.7 | )
Basic earnings (loss) per share | $ | 1.90 |  |  | $ | 2.11 |  |  | $ | 0.51 |  |  | $ | (0.25 | )
Diluted earnings (loss) per share | $ | 1.90 |  |  | $ | 2.11 |  |  | $ | 0.51 |  |  | $ | (0.25 | )
Dividends declared per share | $ | 5.50 |  |  | $ | 7.25 |  |  | $ | 0.75 |  |  | $ | 0.75 |
Weighted-average common shares outstanding |  |  |  |  |  |  |
Basic | 86.8 |  |  | 86.8 |  |  | 86.8 |  |  | 86.8 |
Diluted | 86.8 |  |  | 86.8 |  |  | 86.8 |  |  | 86.8 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=35737889&loc=d3e1280-108306 + Details
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