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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income (loss) $ 153 $ (55)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 67 66
Gain on marketable securities 0 (62)
Deferred income taxes (4) (77)
Loss on extinguishment of debt 1 0
Share-based compensation 25 8
(Gain) loss on derivatives, net (6) 43
Other items 2 2
Changes in assets and liabilities:    
Current assets and liabilities 83 175
Non-current assets and liabilities 1 (4)
Net cash provided by operating activities 322 96
Cash flows from investing activities:    
Capital expenditures (26) (34)
Turnaround expenditures (15) (1)
Acquisition of pipeline assets 0 (20)
Proceeds from sale of assets 0 1
Net cash used in investing activities (41) (54)
Cash flows from financing activities:    
Principal payments on senior secured notes (65) 0
Repurchase of common units by CVR Partners (12) (1)
Distributions to CVR Partners’ noncontrolling interest holders (36) 0
Other financing activities (2) (1)
Net cash used in financing activities (115) (2)
Net increase in cash and cash equivalents and restricted cash 166 40
Cash, cash equivalents and restricted cash, beginning of period 517 674
Cash, cash equivalents and restricted cash, end of period $ 683 $ 714