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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents (including $113 and $31, respectively, of consolidated variable interest entity (VIE)) $ 510 $ 667
Accounts receivable (including $88 and $37, respectively, of VIE) 299 178
Inventories (including $52 and $42, respectively, of VIE) 484 298
Prepaid expenses and other current assets (including $9 and $8, respectively, of VIE) 76 259
Total current assets 1,369 1,402
Property, plant and equipment, net (including $850 and $898, respectively, of VIE) 2,273 2,240
Other long-term assets (including $14 and $17, respectively, of VIE) 264 336
Total assets 3,906 3,978
Current liabilities:    
Note payable and finance lease obligations (including $0 and $2, respectively, of VIE) 6 8
Accounts payable (including $50 and $25, respectively, of VIE) 409 282
Other current liabilities (including $111 and $49, respectively, of VIE) 741 369
Total current liabilities 1,156 659
Long-term liabilities:    
Long-term debt and finance lease obligations, net of current portion (including $611 and $634, respectively, of VIE) 1,654 1,683
Deferred income taxes 268 368
Other long-term liabilities (including $12 and $8, respectively, of VIE) 58 49
Total long-term liabilities 1,980 2,100
Commitments and contingencies (See Note 11)
CVR stockholders’ equity:    
Common stock $0.01 par value per share, 350,000,000 shares authorized, 100,629,209 and 100,629,209 shares issued as of December 31, 2021 and 2020, respectively 1 1
Additional paid-in-capital 1,510 1,510
Retained deficit (956) (490)
Treasury stock, 98,610 shares at cost (2) (2)
Total CVR stockholders’ equity 553 1,019
Noncontrolling interest 217 200
Total equity 770 1,219
Total liabilities and equity $ 3,906 $ 3,978