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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of income tax (benefit) expense

Income tax (benefit) expense is comprised of the following:

			Year Ended December 31,
(in millions)			2020						2019						2018
Current:
Federal			$	(63)					$	96					$	31
State			(5)						5						(7)
Total current			(68)						101						24
Deferred:
Federal			(1)						3						39
State			(26)						25						16
Total deferred			(27)						28						55
Total income tax (benefit) expense			$	(95)					$	129					$	79

Schedule of reconciliation of total income tax (benefit) expense to income tax (benefit) expense computed by applying the statutory federal income tax rate to pre-tax (loss) income

The following is a reconciliation of total income tax (benefit) expense to income tax (benefit) expense computed by applying the statutory federal income tax rate to pretax (loss) income:

			Year Ended December 31,
(in millions)			2020						2019						2018
Tax computed at federal statutory rate			$	(87)					$	103					$	94
State income taxes, net of federal tax benefit			(18)						29						12
State tax incentives, net of federal tax expense			(7)						(4)						(4)
Noncontrolling interest			13						4						(23)
Goodwill impairment			3						—						—
Other, net			1						(3)						—
Total income tax (benefit) expense			$	(95)					$	129					$	79

Schedule of income tax effect of temporary differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities

The income tax effect of temporary differences that give rise to the Deferred income tax assets and Deferred income tax liabilities at December 31, 2020 and 2019 are as follows:

			December 31,
(in millions)			2020						2019
Deferred income tax assets:
Personnel accruals			$	2					$	—
State tax credit carryforward, net			20						7
Net operating loss carryforward			9						—
Total gross deferred income tax assets			31						7
Deferred income tax liabilities:
Unrealized gain			(9)						—
Investment in CVR Partners			(67)						(61)
Investment in CVR Refining			(320)						(341)
Other			(3)						(1)
Total gross deferred income tax liabilities			(399)						(403)
Net deferred income tax liabilities			$	(368)					$	(396)

Schedule of reconciliation of the unrecognized tax benefits

A reconciliation of unrecognized tax benefits is as follows:

			Year Ended December 31,
(in millions)			2020						2019						2018
Balance, beginning of year			$	22					$	23					$	29
Decrease based on prior year tax position			(2)						—						—
Increase in current year tax positions			—						2						—
Reductions related to expirations from statute of limitations			(3)						(3)						(6)
Balance, end of year			$	17					$	22					$	23

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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