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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Gain (loss) on derivatives |
Gain (Loss) on Derivatives
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
| (in millions)
Realized gain on commodity derivatives | $ | 19 |  |  | $ | — |  |  | $ | 33 |  |  | $ | 1 |
Realized loss on margin account | (2 | ) |  | — |  |  | (2 | ) |  | — |
Total realized gain on derivatives, net | $ | 17 |  |  | $ | — |  |  | $ | 31 |  |  | $ | 1 |
Schedule of open commodity derivative instruments |
Open Commodity Derivative Instruments
| June 30, 2018 |  | December 31, 2017
| (in millions of barrels)
Commodity Swap Instruments: |  |  |
2-1-1 Crack spreads | — |  |  | 7 |
Distillate Crack spreads | — |  |  | 4 |
Gasoline Crack spreads | — |  |  | 4 |
Purchase and Sale Commitments: |  |  |
Canadian crude oil | 4 |  |  | 6 |
Schedule of fair value of commodity derivatives |
Fair Value of Commodity Derivatives
| June 30, 2018 |  | December 31, 2017
| (in millions)
Net unrealized gain (loss) on outstanding commodity derivative contracts | $ | (26 | ) |  | $ | (64 | )
Derivative offsetting assets | The offsetting assets and liabilities for CVR Refining's derivatives as of June 30, 2018 and December 31, 2017 are recorded as current assets and current liabilities in prepaid expenses and other current assets and accrued expenses and other current liabilities, respectively, in the Condensed Consolidated Balance Sheets as follows:
| As of June 30, 2018
Description | Gross Current Assets |  | Gross Amounts Offset |  | Net Current Assets Presented |  | Cash Collateral Not Offset |  | Net Amount
| (in millions)
Commodity Derivatives | $ | 6 |  |  | $ | (5 | ) |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Total | $ | 6 |  |  | $ | (5 | ) |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
| As of June 30, 2018
Description | Gross Current Liabilities |  | Gross Amounts Offset |  | Net Current Liabilities Presented |  | Cash Collateral Not Offset |  | Net Amount
| (in millions)
Commodity Derivatives | $ | 32 |  |  | $ | (5 | ) |  | $ | 27 |  |  | $ | — |  |  | $ | 27 |
Total | $ | 32 |  |  | $ | (5 | ) |  | $ | 27 |  |  | $ | — |  |  | $ | 27 |
| As of December 31, 2017
Description | Gross Current Assets |  | Gross Amounts Offset |  | Net Current Assets Presented |  | Cash Collateral Not Offset |  | Net Amount
| (in millions)
Commodity Derivatives | $ | 7 |  |  | $ | (7 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |
Total | $ | 7 |  |  | $ | (7 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |
| As of December 31, 2017
Description | Gross Current Liabilities |  | Gross Amounts Offset |  | Net Current Liabilities Presented |  | Cash Collateral Not Offset |  | Net Amount
| (in millions)
Commodity Derivatives | $ | 71 |  |  | $ | (7 | ) |  | $ | 64 |  |  | $ | — |  |  | $ | 64 |
Total | $ | 71 |  |  | $ | (7 | ) |  | $ | 64 |  |  | $ | — |  |  | $ | 64 |
Derivative offsetting liabilities | The offsetting assets and liabilities for CVR Refining's derivatives as of June 30, 2018 and December 31, 2017 are recorded as current assets and current liabilities in prepaid expenses and other current assets and accrued expenses and other current liabilities, respectively, in the Condensed Consolidated Balance Sheets as follows:
| As of June 30, 2018
Description | Gross Current Assets |  | Gross Amounts Offset |  | Net Current Assets Presented |  | Cash Collateral Not Offset |  | Net Amount
| (in millions)
Commodity Derivatives | $ | 6 |  |  | $ | (5 | ) |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Total | $ | 6 |  |  | $ | (5 | ) |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
| As of June 30, 2018
Description | Gross Current Liabilities |  | Gross Amounts Offset |  | Net Current Liabilities Presented |  | Cash Collateral Not Offset |  | Net Amount
| (in millions)
Commodity Derivatives | $ | 32 |  |  | $ | (5 | ) |  | $ | 27 |  |  | $ | — |  |  | $ | 27 |
Total | $ | 32 |  |  | $ | (5 | ) |  | $ | 27 |  |  | $ | — |  |  | $ | 27 |
| As of December 31, 2017
Description | Gross Current Assets |  | Gross Amounts Offset |  | Net Current Assets Presented |  | Cash Collateral Not Offset |  | Net Amount
| (in millions)
Commodity Derivatives | $ | 7 |  |  | $ | (7 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |
Total | $ | 7 |  |  | $ | (7 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |
| As of December 31, 2017
Description | Gross Current Liabilities |  | Gross Amounts Offset |  | Net Current Liabilities Presented |  | Cash Collateral Not Offset |  | Net Amount
| (in millions)
Commodity Derivatives | $ | 71 |  |  | $ | (7 | ) |  | $ | 64 |  |  | $ | — |  |  | $ | 64 |
Total | $ | 71 |  |  | $ | (7 | ) |  | $ | 64 |  |  | $ | — |  |  | $ | 64 |

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