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Selected Quarterly Financial Information (unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Information (unaudited) | (21) Selected Quarterly Financial Information (unaudited) 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 |
Factors Impacting the Comparability of Quarterly Results of Operations As discussed in Note 2 ("Summary of Significant Accounting Policies"), the Refining Partnership's Wynnewood refinery completed the first phase of its most recent major scheduled turnaround in the fourth quarter of 2017. The second phase of the Wynnewood refinery turnaround is expected to occur in 2019. In addition to the two phase turnaround, the Refining Partnership accelerated certain planned turnaround activities of the Wynnewood refinery in the first quarter of 2017 on the hydrocracker unit for a catalyst change-out. The Refining Partnership incurred approximately $80.4 million of major scheduled turnaround expenses during 2017, of which approximately $13.0 million, $2.7 million, $21.7 million and $43.0 million were incurred in the first, second, third and fourth quarters of 2017, respectively. The Refining Partnership's Coffeyville refinery completed the second phase of its most recent major scheduled turnaround during the first quarter of 2016 at a total cost of approximately $31.5 million for the year ended December 31, 2016, of which approximately $29.4 million and $2.1 million were incurred in the first and second quarters of 2016, respectively. As discussed in Note 2 ("Summary of Significant Accounting Policies"), during the third quarter of 2017 and during the second quarter of 2016, the Nitrogen Fertilizer Partnership's East Dubuque facility completed major scheduled turnarounds. On April 1, 2016, the Nitrogen Fertilizer Partnership completed the East Dubuque Merger, whereby the Nitrogen Fertilizer Partnership acquired the East Dubuque Facility. The consolidated financial statements include the results of the East Dubuque Facility beginning on April 1, 2016, the date of the closing of the acquisition. See Note 3 ("Acquisition") for further discussion.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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