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Related Party Transactions | 6 Months Ended
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Jun. 30, 2022
Related Party Transactions [Abstract] |
Related Party Transactions | (15) Related Party Transactions Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2022 and 2021 is summarized below: Expenses from Related Parties
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2022 |  | 2021 |  | 2022 |  | 2021
Cost of materials and other: |  |  |  |  |  |  |
Enable Joint Venture Transportation Agreement | $ | 2 |  |  | $ | 3 |  |  | $ | 5 |  |  | $ | 6 |
Payments made: |  |  |  |  |  |  |
Dividends (1) | 28 |  |  | 348 |  |  | 28 |  |  | 348 |
(1)See below for a summary of the dividends paid to IEP for the six months ended June 30, 2022 and year ended December 31, 2021.
Corporate Master Service Agreement On April 12, 2022, in connection with our Corporate Master Service Agreement effective January 1, 2020, by and among our wholly owned subsidiary, CVR Services, and certain other of our subsidiaries, including but not limited to CVR Partners and its subsidiaries, pursuant to which CVR Services provides the service recipients thereunder with management and other professional services (the “Corporate MSA”), 18 indirect, wholly owned subsidiaries of CVR Energy, including but not limited to CVR Renew and the Joining Subsidiaries, were joined as service recipients under the Corporate MSA. Dividends to CVR Energy Stockholders Dividends, if any, including the payment, amount and timing thereof, are determined in the discretion of CVR Energy’s board of directors (the “Board”). IEP, through its ownership of the Company’s common stock, is entitled to receive dividends that are declared and paid by the Company based on the number of shares held at each record date. The following table presents dividends paid to the Company’s stockholders, including IEP, during 2022 (amounts presented in table below may not add to totals presented due to rounding).
|  |  |  |  |  | Dividends Paid (in millions)
Related Period |  | Date Paid |  | Dividend Per Share |  | Stockholders |  | IEP |  | Total
2022 - 1st Quarter |  | May 23, 2022 |  | $ | 0.40 |  |  | $ | 12 |  |  | $ | 28 |  |  | $ | 40 |
No dividends were paid during the first quarter of 2022 related to the fourth quarter of 2021, and there were no quarterly dividends declared or paid during 2021 related to the first, second, and third quarters of 2021 and fourth quarter of 2020. On May 26, 2021, the Company announced a special dividend of approximately $492 million, or equivalent to $4.89 per share of the Company’s common stock, to be paid in a combination of cash (the “Cash Distribution”) and the common stock of Delek held by the Company (the “Stock Distribution”). On June 10, 2021, the Company distributed an aggregate amount of approximately $241 million, or $2.40 per share of the Company’s common stock, pursuant to the Cash Distribution, and approximately 10,539,880 shares of Delek common stock, which represented approximately 14.3% of the outstanding shares of Delek common stock, pursuant to the Stock Distribution. IEP received approximately 7,464,652 shares of common stock of Delek and $171 million in cash. The Stock Distribution was recorded as a reduction to equity through a derecognition of our investment in Delek, and the Company recognized a gain of $112 million from the initial investment in Delek through the date of the Stock Distribution. For the second quarter of 2022, the Company, upon approval by the Board on August 1, 2022, declared a cash dividend of $0.40 per share, or $40 million, which is payable August 22, 2022 to shareholders of record as of August 12, 2022. Of this amount, IEP will receive $28 million due to its ownership interest in the Company’s shares. In addition, the Company, upon approval by the Board on August 1, 2022, declared a special dividend of $2.60 per share, or $261 million, which is payable August 22, 2022 to shareholders of record as of August 12, 2022. Of this amount, IEP will receive $185 million due to its ownership interest in the Company’s shares. 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. The following table presents distributions paid by CVR Partners to its unitholders, including amounts received by the Company, during 2022 and 2021 (amounts presented in tables below may not add to totals presented due to rounding).
|  |  |  |  |  | Distributions Paid (in millions)
Related Period |  | Date Paid |  | Distributions Per Common Unit |  | Public Unitholders |  | CVR Energy |  | Total
2021 - 4th Quarter |  | March 14, 2022 |  | $ | 5.24 |  |  | $ | 36 |  |  | $ | 20 |  |  | $ | 56 |
2022 - 1st Quarter |  | May 23, 2022 |  | 2.26 |  |  | 15 |  |  | 9 |  |  | 24 |
Total 2022 distributions |  | $ | 7.50 |  |  | $ | 51 |  |  | $ | 29 |  |  | $ | 80 |
|  |  |  |  |  | Distributions Paid (in millions)
Related Period |  | Date Paid |  | Distributions Per Common Unit |  | Public Unitholders |  | CVR Energy |  | Total
2021 - 2nd Quarter |  | August 23, 2021 |  | $ | 1.72 |  |  | $ | 11 |  |  | $ | 7 |  |  | $ | 18 |
2021 - 3rd Quarter |  | November 22, 2021 |  | 2.93 |  |  | 20 |  |  | 11 |  |  | 31 |
Total 2021 distributions |  | $ | 4.65 |  |  | $ | 31 |  |  | $ | 18 |  |  | $ | 50 |
There were no distributions declared or paid by CVR Partners related to the first quarter of 2021 and fourth quarter of 2020. For the second quarter of 2022, CVR Partners, upon approval by the UAN GP Board on August 1, 2022, declared a distribution of $10.05 per common unit, or $106 million, which is payable August 22, 2022 to unitholders of record as of August 12, 2022. Of this amount, CVR Energy will receive approximately $39 million, with the remaining amount payable to public unitholders.

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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 https://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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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