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Long-Term Debt and Finance Lease Obligations (Tables) | 3 Months Ended
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Mar. 31, 2020
Debt Disclosure [Abstract] |
Schedule of long-term debt and finance lease obligations | Long-term debt and finance lease obligations consist of the following:
(in millions) | March 31, 2020 |  | December 31, 2019
CVR Partners: |  |  |
9.25% Senior Secured Notes due 2023 | $ | 645 |  |  | $ | 645 |
6.50% Senior Notes due 2021 | 2 |  |  | 2 |
Unamortized discount and debt issuance costs | (14) |  |  | (15) |
Total CVR Partners Debt | $ | 633 |  |  | $ | 632 |
CVR Refining: |  |  |
6.50% Senior Notes due 2022 (1) | $ | — |  |  | $ | 500 |
Finance lease obligations, net of current portion (2) | 59 |  |  | 61 |
Unamortized debt issuance cost | — |  |  | (3) |
Total CVR Refining Debt | $ | 59 |  |  | $ | 558 |
CVR Energy: |  |  |
5.25% Senior Notes due 2025 | $ | 600 |  |  | $ | — |
5.75% Senior Notes due 2028 | 400 |  |  | — |
Unamortized debt issuance costs | (6) |  |  | — |
Total CVR Energy Debt | 994 |  |  | — |
Total Long-Term Debt and Finance Lease Obligations | $ | 1,686 |  |  | $ | 1,190 |
(1)On January 27, 2020, the Company redeemed all of the 2022 Notes for a redemption price equal to 101.083%, plus accrued and unpaid interest, on the redeemed notes. (2)Current portion of finance lease obligations recognized was approximately $5 million and $5 million as of March 31, 2020 and December 31, 2019, respectively. Credit Facilities
(in millions) | Total Capacity |  | Amount Borrowed as of March 31, 2020 |  | Outstanding Letters of Credit |  | Available Capacity as of March 31, 2020 |  | Maturity Date
CVR Partners: |  |  |  |  |  |  |  |  |
Asset Based (“AB”) Credit Facility (2) | $ | 50 |  |  | $ | — |  |  | $ | — |  |  | $ | 50 |  |  | September 30, 2021
CVR Refining: |  |  |  |  |  |  |  |  |
Amended and Restated Asset Based (“Amended and Restated ABL”) Credit Facility (1) | $ | 400 |  |  | $ | — |  |  | $ | 8 |  |  | $ | 392 |  |  | November 14, 2022
(1)Loans under the Amended and Restated ABL Credit Facility initially bear interest at an annual rate equal to (i) 1.50% plus LIBOR or (ii) 0.50% plus a base rate, subject to quarterly excess availability. (2)Loans under the AB Credit Facility initially bear interest at an annual rate equal to (i) 2.00% plus LIBOR or (ii) 1.00% plus a base rate, subject to a 0.50% step-down based on the previous quarter’s excess availability.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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