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Revenue (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major product

The following tables present the Company’s revenue disaggregated by major product. The following tables include a reconciliation of the disaggregated revenue with the Company’s reportable segments.

	Three Months Ended March 31, 2019
(in millions)	Petroleum				Nitrogen Fertilizer				Other / Eliminations				Consolidated
Major Product
Gasoline	$	673			$	—			$	—			$	673
Distillates (1)	651				—				—				651
Ammonia	—				13				—				13
UAN	—				64				—				64
Other urea products	—				5				—				5
Freight revenue	6				8				—				14
Other (2)	43				2				(3		)		42
Revenue from product sales	1,373				92				(3		)		1,462
Crude oil sales	23				—				—				23
Other revenue (2)	1				—				—				1
Total revenue	$	1,397			$	92			$	(3	)		$	1,486

	Three Months Ended March 31, 2018
(in millions)	Petroleum				Nitrogen Fertilizer				Other / Eliminations				Consolidated
Major Product
Gasoline	$	712			$	—			$	—			$	712
Distillates (1)	652				—				—				652
Ammonia	—				12				—				12
UAN	—				53				—				53
Other urea products	—				5				—				5
Freight revenue	5				9				—				14
Other (2)	56				—				(1		)		55
Revenue from product sales	1,425				79				(1		)		1,503
Crude oil sales	32				—				—				32
Other revenue	1				1				—				2
Total revenue	$	1,458			$	80			$	(1	)		$	1,537

(1) Distillates consist primarily of diesel fuel, kerosene and jet fuel.

(2) Other revenue consists primarily of feedstock and asphalt sales and Cushing, OK storage tank lease revenue. See Note 5 (“Property, Plant and Equipment”) for further discussion on the Cushing, OK storage tanks.

Summary of deferred revenue activity

A summary of CVR Partners’ deferred revenue activity during the three months ended March 31, 2019 is presented below:

(in millions)
Balance at December 31, 2018	$	69
Add:
New prepay contracts entered into during the period (1)	9
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	12
Revenue recognized related to contracts entered into during the period	1
Balance at March 31, 2019	$	65

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- Definition

Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130551-203045

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130545-203045

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