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Revenue (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2019
(in millions)	Petroleum				Nitrogen Fertilizer				Other / Eliminations				Consolidated
Major Product
Gasoline	$	796			$	—			$	—			$	796
Distillates (1)	692				—				—				692
Ammonia	—				11				—				11
UAN	—				62				—				62
Other urea products	—				5				—				5
Freight revenue	6				9				—				15
Other (2)	34				2				(2		)		34
Revenue from product sales	1,528				89				(2		)		1,615
Crude oil sales	7				—				—				7
Net sales	$	1,535			$	89			$	(2	)		$	1,622

	Nine Months Ended September 30, 2019
(in millions)	Petroleum				Nitrogen Fertilizer				Other / Eliminations				Consolidated
Major Product
Gasoline	$	2,285			$	—			$	—			$	2,285
Distillates (1)	2,035				—				—				2,035
Ammonia	—				74				—				74
UAN	—				200				—				200
Other urea products	—				14				—				14
Freight revenue	17				24				—				41
Other (2)	108				6				(8		)		106
Revenue from product sales	4,445				318				(8		)		4,755
Crude oil sales	36				—				—				36
Other revenue (2)	3				—				—				3
Net sales	$	4,484			$	318			$	(8	)		$	4,794

	Three Months Ended September 30, 2018
(in millions)	Petroleum				Nitrogen Fertilizer				Other / Eliminations				Consolidated
Major Product
Gasoline	$	951			$	—			$	—			$	951
Distillates (1)	844				—				—				844
Ammonia	—				11				—				11
UAN	—				53				—				53
Other urea products	—				5				—				5
Freight revenue	6				9				—				15
Other (2)	43				2				(2		)		43
Revenue from product sales	1,844				80				(2		)		1,922
Crude oil sales	12				—				—				12
Other revenue (2)	1				—				—				1
Net sales	$	1,857			$	80			$	(2	)		$	1,935

	Nine Months Ended September 30, 2018
(in millions)	Petroleum				Nitrogen Fertilizer				Other / Eliminations				Consolidated
Major Product
Gasoline	$	2,558			$	—			$	—			$	2,558
Distillates (1)	2,334				—				—				2,334
Ammonia	—				51				—				51
UAN	—				157				—				157
Other urea products	—				15				—				15
Freight revenue	17				24				—				41
Other (2)	151				6				(6		)		151
Revenue from product sales	5,060				253				(6		)		5,307
Crude oil sales	75				—				—				75
Other revenue (2)	4				—				—				4
Net sales	$	5,139			$	253			$	(6	)		$	5,386

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

(2) Other revenue consists primarily of feedstock and asphalt sales and the 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 nine months ended September 30, 2019 is presented below:

(in millions)
Balance at December 31, 2018	$	69
Add:
New prepay contracts entered into during the period (1)	24
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period	68
Revenue recognized related to contracts entered into during the period	8
Other changes	1
Balance at September 30, 2019	$	16

(1) Includes $24 million where payment associated with prepaid contracts was collected.

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- Definition

Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=118956577&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://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045

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