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Selected Quarterly Financial Information (unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Summary of quarterly financial data | Summarized quarterly financial data for December 31, 2017 and 2016 is as follows:
| Year Ended December 31, 2017
| Quarter
| First |  | Second |  | Third |  | Fourth
| (in millions, except per share data)
Net sales | $ | 1,507.1 |  |  | $ | 1,434.4 |  |  | $ | 1,453.8 |  |  | $ | 1,593.1 |
Operating costs and expenses: |  |  |  |  |  |  |
Cost of materials and other | 1,221.2 |  |  | 1,228.6 |  |  | 1,132.4 |  |  | 1,300.7 |
Direct operating expenses (exclusive of depreciation and amortization as reflected below) | 138.1 |  |  | 124.2 |  |  | 161.1 |  |  | 176.1 |
Depreciation and amortization | 48.6 |  |  | 51.7 |  |  | 51.3 |  |  | 51.7 |
Cost of sales | 1,407.9 |  |  | 1,404.5 |  |  | 1,344.8 |  |  | 1,528.5 |
Selling, general and administrative (exclusive of depreciation and amortization as reflected below) | 29.1 |  |  | 26.3 |  |  | 27.3 |  |  | 31.5 |
Depreciation and amortization | 2.5 |  |  | 2.3 |  |  | 2.8 |  |  | 3.1 |
Total operating costs and expenses | 1,439.5 |  |  | 1,433.1 |  |  | 1,374.9 |  |  | 1,563.1 |
Operating income | 67.6 |  |  | 1.3 |  |  | 78.9 |  |  | 30.0 |
Other income (expense): |  |  |  |  |  |  |
Interest expense and other financing costs | (27.0 | ) |  | (27.6 | ) |  | (27.6 | ) |  | (27.9 | )
Interest income | 0.2 |  |  | 0.3 |  |  | 0.2 |  |  | 0.4 |
Gain (loss) on derivatives, net | 12.2 |  |  | — |  |  | (17.0 | ) |  | (65.0 | )
Other income, net | — |  |  | 0.1 |  |  | — |  |  | 0.9 |
Total other expense | (14.6 | ) |  | (27.2 | ) |  | (44.4 | ) |  | (91.6 | )
Income (loss) before income taxes | 53.0 |  |  | (25.9 | ) |  | 34.5 |  |  | (61.6 | )
Income tax expense (benefit) | 14.8 |  |  | (6.6 | ) |  | 9.2 |  |  | (234.3 | )
Net income (loss) | 38.2 |  |  | (19.3 | ) |  | 25.3 |  |  | 172.7 |
Less: Net income (loss) attributable to noncontrolling interest | 16.0 |  |  | (8.8 | ) |  | 3.1 |  |  | (27.8 | )
Net income (loss) attributable to CVR Energy stockholders | $ | 22.2 |  |  | $ | (10.5 | ) |  | $ | 22.2 |  |  | $ | 200.5 |
Basic and diluted earnings (loss) per share | $ | 0.26 |  |  | $ | (0.12 | ) |  | $ | 0.26 |  |  | $ | 2.31 |
Dividends declared per share | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.50 |
Weighted-average common shares outstanding - basic and diluted | 86.8 |  |  | 86.8 |  |  | 86.8 |  |  | 86.8 |
| Year Ended December 31, 2016
| Quarter
| First |  | Second |  | Third |  | Fourth
| (in millions, except per share data)
Net sales | $ | 905.5 |  |  | $ | 1,283.2 |  |  | $ | 1,240.3 |  |  | $ | 1,353.4 |
Operating costs and expenses: |  |  |  |  |  |  |
Cost of materials and other | 736.8 |  |  | 976.9 |  |  | 1,005.7 |  |  | 1,128.1 |
Direct operating expenses (exclusive of depreciation and amortization as reflected below) | 141.4 |  |  | 138.3 |  |  | 129.5 |  |  | 132.6 |
Depreciation and amortization | 37.9 |  |  | 48.5 |  |  | 48.2 |  |  | 49.9 |
Cost of sales | 916.1 |  |  | 1,163.7 |  |  | 1,183.4 |  |  | 1,310.6 |
Selling, general and administrative (exclusive of depreciation and amortization as reflected below) | 27.2 |  |  | 26.6 |  |  | 27.8 |  |  | 27.5 |
Depreciation and amortization | 2.1 |  |  | 2.2 |  |  | 1.9 |  |  | 2.4 |
Total operating costs and expenses | 945.4 |  |  | 1,192.5 |  |  | 1,213.1 |  |  | 1,340.5 |
Operating income (loss) | (39.9 | ) |  | 90.7 |  |  | 27.2 |  |  | 12.9 |
Other income (expense): |  |  |  |  |  |  |
Interest expense and other financing costs | (12.1 | ) |  | (18.5 | ) |  | (26.2 | ) |  | (27.1 | )
Interest income | 0.2 |  |  | 0.1 |  |  | 0.2 |  |  | 0.2 |
Loss on derivatives, net | (1.2 | ) |  | (1.9 | ) |  | (1.7 | ) |  | (14.6 | )
Gain (loss) on extinguishment of debt | — |  |  | (5.1 | ) |  | — |  |  | 0.2 |
Other income, net | 0.3 |  |  | 0.1 |  |  | 5.0 |  |  | 0.3 |
Total other expense | (12.8 | ) |  | (25.3 | ) |  | (22.7 | ) |  | (41.0 | )
Income (loss) before income taxes | (52.7 | ) |  | 65.4 |  |  | 4.5 |  |  | (28.1 | )
Income tax expense (benefit) | (21.8 | ) |  | 21.6 |  |  | 2.5 |  |  | (22.1 | )
Net income (loss) | (30.9 | ) |  | 43.8 |  |  | 2.0 |  |  | (6.0 | )
Less: Net income (loss) attributable to noncontrolling interest | (14.7 | ) |  | 15.4 |  |  | (3.4 | ) |  | (13.1 | )
Net income (loss) attributable to CVR Energy stockholders | $ | (16.2 | ) |  | $ | 28.4 |  |  | $ | 5.4 |  |  | $ | 7.1 |
Basic and diluted earnings (loss) per share | $ | (0.19 | ) |  | $ | 0.33 |  |  | $ | 0.06 |  |  | $ | 0.08 |
Dividends declared per share | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.50 |
Weighted-average common shares outstanding |  |  |  |  |  |  |
Basic and diluted | 86.8 |  |  | 86.8 |  |  | 86.8 |  |  | 86.8 |

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, 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=84173487&loc=d3e1280-108306 + Details
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