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Related Party Transactions | 9 Months Ended
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Sep. 30, 2020
Related Party Transactions [Abstract] |
Related Party Transactions | (16) Related Party Transactions Activity associated with the Company’s related party arrangements for the three and nine months ended September 30, 2020 and 2019 is summarized below: Expenses from related parties
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Cost of materials and other |  |  |  |  |  |  |
Joint Venture Transportation Agreement: |  |  |  |  |  |  |
Enable | $ | 3 |  |  | $ | 3 |  |  | $ | 9 |  |  | $ | 8 |
Payments made |  |  |  |  |  |  |
Dividends (1) | $ | — |  |  | $ | 53 |  |  | 85 |  |  | 159 |
(1)See below for a summary of the dividends paid to IEP for the nine months ended September 30, 2020 and year ended December 31, 2019.
Agency Arrangement with IEP On February 4, 2020, CVR Energy and Icahn Enterprises Holdings LP (“IEH”), a subsidiary of IEP, entered into an agency arrangement wherein IEH would act as the agent for CVR Energy. Under this arrangement, the Company invested approximately $140 million in certain marketable securities of Delek US Holdings, Inc. (“Delek”) (NYSE ticker symbol: DK) and could make additional investments in Delek or invest in other public companies in the future under this arrangement. The Company reimbursed IEH for all costs associated with the initial purchase and did not incur any additional fees as part of this transaction. Property Exchange On October 22, 2019, the Audit Committee of CVR Energy’s board of directors (the “Board”) and the Conflicts Committee of the UAN GP Board each agreed to authorize the exchange of certain parcels of property owned by CRRM with an equal number of parcels owned by CRNF, all located in Coffeyville, Kansas (the “Property Exchange”). On February 19, 2020, CRRM and CRNF executed the Property Exchange agreement. This Property Exchange will enable each such subsidiary to create a more usable, contiguous parcel of land near its own operating footprint. This transaction resulted in no net impact on the Company’s condensed consolidated financial statements. Dividends to CVR Energy Stockholders Dividends, if any, including the payment, amount and timing thereof, are subject to change at the discretion of the Board. There were no dividends declared or paid by the Company during the three months ended September 30, 2020 related to the second quarter of 2020. No dividends were declared for the third quarter of 2020. The following tables present dividends paid to the Company’s stockholders, including IEP, during 2020 and 2019 (amounts presented in tables below may not add to totals presented due to rounding).
|  |  |  |  |  | Dividends Paid (in millions)
Related Period |  | Date Paid |  | Dividend Per Share |  | Stockholders |  | IEP |  | Total
2019 - 4th Quarter |  | March 9, 2020 |  | $ | 0.80 |  |  | $ | 23 |  |  | $ | 57 |  |  | $ | 80 |
2020 - 1st Quarter |  | May 26, 2020 |  | 0.40 |  |  | 12 |  |  | 28 |  |  | 40 |
Total |  |  |  | $ | 1.20 |  |  | $ | 35 |  |  | $ | 85 |  |  | $ | 121 |
|  |  |  |  |  | Dividends Paid (in millions)
Related Period |  | Date Paid |  | Dividend Per Share |  | Stockholders |  | IEP |  | Total
2018 - 4th Quarter |  | March 11, 2019 |  | $ | 0.75 |  |  | $ | 22 |  |  | $ | 53 |  |  | $ | 75 |
2019 - 1st Quarter |  | May 13, 2019 |  | 0.75 |  |  | 22 |  |  | 53 |  |  | 75 |
2019 - 2nd Quarter |  | August 12, 2019 |  | 0.75 |  |  | 22 |  |  | 53 |  |  | 75 |
2019 - 3rd Quarter |  | November 11, 2019 |  | 0.80 |  |  | 23 |  |  | 57 |  |  | 80 |
Total |  |  |  | $ | 3.05 |  |  | $ | 90 |  |  | $ | 217 |  |  | $ | 307 |
Distributions to CVR Partners’ Unitholders
Distributions, if any, including the payment, amount and timing thereof, are subject to change at the discretion of the UAN GP Board. There were no distributions declared or paid by CVR Partners during the nine months ended September 30, 2020 related to the fourth quarter of 2019 or the first and second quarters of 2020, and no distributions were declared for the third quarter of 2020. The following table presents distributions paid by CVR Partners to its unitholders, including amounts paid to CVR Energy, during 2019.
|  |  |  |  |  | Distributions Paid (in thousands)
Related Period |  | Date Paid |  | Distribution Per Common Unit |  | Public Unitholders |  | CVR Energy |  | Total
2018 - 4th Quarter |  | March 11, 2019 |  | $ | 0.12 |  |  | $ | 9 |  |  | $ | 5 |  |  | $ | 14 |
2019 - 1st Quarter |  | May 13, 2019 |  | 0.07 |  |  | 5 |  |  | 3 |  |  | 8 |
2019 - 2nd Quarter |  | August 12, 2019 |  | 0.14 |  |  | 10 |  |  | 5 |  |  | 16 |
2019 - 3rd Quarter |  | November 11, 2019 |  | 0.07 |  |  | 5 |  |  | 3 |  |  | 8 |
Total |  |  |  | $ | 0.40 |  |  | $ | 30 |  |  | $ | 16 |  |  | $ | 45 |

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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