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Selected Quarterly Financial Information (Tables)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Summary of quarterly financial data
Summarized quarterly financial data for December 31, 2018 and 2017 is as follows:
 
Year Ended December 31, 2018
 
Quarter
(in millions)
First
 
Second
 
Third
 
Fourth
Net sales
$
1,536

 
$
1,915

 
$
1,935

 
$
1,737

Cost of materials and other (a)
1,179

 
1,560

 
1,556

 
1,387

Direct operating expenses (a)
132

 
141

 
120

 
130

Operating income
150

 
121

 
179

 
138

Net income
104

 
80

 
121

 
106

Net income attributable to noncontrolling interest
38

 
30

 
31

 
24

Net income attributable to CVR Energy stockholders
$
66

 
$
50

 
$
90

 
$
82

 
 
 
 
 
 
 
 
Basic and diluted earnings per share
$
0.76

 
$
0.59

 
$
0.94

 
$
0.82

Dividends declared per share
$
0.50

 
$
0.50

 
$
0.75

 
$
0.75

 
 
 
 
 
 
 
 
Weighted-average common shares outstanding - basic and diluted

86.8

 
86.8

 
95.8

 
100.5


 
Year Ended December 31, 2017
 
Quarter
(in millions)
First
 
Second
 
Third
 
Fourth
Net sales
$
1,507

 
$
1,434

 
$
1,454

 
$
1,593

Cost of materials and other (a)
1,209

 
1,229

 
1,149

 
1,366

Direct operating expenses (a)
138

 
124

 
162

 
175

Operating income (loss)
80

 
1

 
61

 
(36
)
Net income (loss)
38

 
(19
)
 
25

 
173

Net income (loss) attributable to noncontrolling interest
16

 
(8
)
 
3

 
(27
)
Net income (loss) attributable to CVR Energy stockholders
$
22

 
$
(11
)
 
$
22

 
$
200

 
 
 
 
 
 
 
 
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


_______________________________________
(a)
Excludes depreciation and amortization expenses.