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Business Segments
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Business Segments
(13) Business Segments

CVR Energy’s revenues are primarily derived from two reportable segments: the Petroleum Segment and the Nitrogen Fertilizer Segment. The Company evaluates the performance of its segments based primarily on segment operating income (loss) and Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”). For the purposes of the business segments disclosure, the Company presents operating income (loss) as it is the most comparable measure to the amounts presented on the condensed consolidated statements of operations. The other amounts reflect renewable fuels activities, intercompany eliminations, corporate cash and cash equivalents, income tax activities, and other corporate activities that are not allocated or aggregated to the reportable segments.
The following table summarizes certain operating results and capital expenditures information by segment:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in millions)2022202120222021
Net sales:
Petroleum$2,474 $1,742 $7,497 $4,793 
Nitrogen Fertilizer156 145 623 344 
Other, including intersegment eliminations (1)
69 (4)96 (8)
Total net sales$2,699 $1,883 $8,216 $5,129 
Operating income (loss):
Petroleum$137 $135 $564 $(1)
Nitrogen Fertilizer(12)46 218 63 
Other, including intersegment eliminations (1)
(22)(6)(56)(16)
Total operating income (loss)
103 175 726 46 
Interest expense, net(19)(23)(67)(92)
Investment (loss) income on marketable securities (1) 82 
Other income (expense), net3 (81)12 
Income before income tax expense$87 $153 $578 $48 
Depreciation and amortization:
Petroleum$47 $50 $140 $152 
Nitrogen Fertilizer22 18 64 52 
Other (1)
6 (1)11 
Total depreciation and amortization$75 $67 $215 $205 
Capital expenditures: (2)
Petroleum$23 $12 $61 $31 
Nitrogen Fertilizer25 39 14 
Other (1)
20 19 59 144 
Total capital expenditures$68 $38 $159 $189 

The following table summarizes total assets by segment:
(in millions)September 30, 2022December 31, 2021
Petroleum$4,247 $3,368 
Nitrogen Fertilizer1,083 1,127 
Other, including intersegment eliminations (1)
(1,124)(589)
Total assets$4,206 $3,906 
(1)Other includes amounts for the Wynnewood renewable diesel unit project.
(2)Capital expenditures are shown exclusive of capitalized turnaround expenditures and business combinations.