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Related Party Transactions (Tables) | 3 Months Ended
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Mar. 31, 2023
Related Party Transactions [Abstract] |
Schedule of related party transactions | Activity associated with the Company’s related party arrangements for the three months ended March 31, 2023 and 2022 is summarized below: Related Party Activity
| Three Months Ended March 31, |  |
(in millions) | 2023 |  | 2022 |  |  |  |
Sales to related parties: |  |  |  |  |  |  |
CVRP JV CO Contract (1) | $ | 1 |  |  | $ | — |  |  |  |  |
Purchases from related parties: |  |  |  |  |  |  |
Enable Joint Venture Transportation Agreement | 3 |  |  | 2 |  |  |  |  |
Midway Joint Venture Agreement (2) | 6 |  |  | 5 |  |  |  |  |
Payments: |  |  |  |  |  |  |
Dividends (3) | 36 |  |  | — |  |  |  |  |
(1)Sales to related parties, included in Net sales in our condensed consolidated financial statements, consists of CO sales to a CVRP JV subsidiary. (2)Purchases from related parties, included in Cost of materials and other in our condensed consolidated financial statements, represents reimbursements for crude oil transportation services incurred on the Midway JV through Vitol as the intermediary purchasing agent. (3)See below for a summary of the dividends paid to IEP during the three months ended March 31, 2023 and year ended December 31, 2022.
Summary of dividends paid | The following tables present quarterly dividends, excluding any special dividends, paid to the Company’s stockholders, including IEP, during 2023 and 2022 (amounts presented in table below may not add to totals presented due to rounding):
|  |  |  |  |  | Quarterly Dividends Paid (in millions)
Related Period |  | Date Paid |  | Quarterly Dividends Per Share |  | Public Stockholders |  | IEP |  | Total
2022 - 4th Quarter |  | March 13, 2023 |  | $ | 0.50 |  |  | $ | 15 |  |  | $ | 36 |  |  | $ | 50 |
|  |  |  |  |  | Quarterly Dividends Paid (in millions)
Related Period |  | Date Paid |  | Quarterly Dividends Per Share |  | Public Stockholders |  | IEP |  | Total
2022 - 1st Quarter |  | May 23, 2022 |  | $ | 0.40 |  |  | $ | 12 |  |  | $ | 28 |  |  | $ | 40 |
2022 - 2nd Quarter |  | August 22, 2022 |  | 0.40 |  |  | 12 |  |  | 28 |  |  | 40 |
2022 - 3rd Quarter |  | November 21, 2022 |  | 0.40 |  |  | 12 |  |  | 28 |  |  | 40 |
Total 2022 quarterly dividends |  | $ | 1.20 |  |  | $ | 35 |  |  | $ | 85 |  |  | $ | 121 |
Summary of distributions paid | The following tables present quarterly distributions paid by CVR Partners to its unitholders, including amounts received by the Company, during 2023 and 2022 (amounts presented in tables below may not add to totals presented due to rounding):
|  |  |  |  |  | Quarterly Distributions Paid (in millions)
Related Period |  | Date Paid |  | Quarterly Distributions Per Common Unit |  | Public Unitholders |  | CVR Energy |  | Total
2022 - 4th Quarter |  | March 13, 2023 |  | $ | 10.50 |  |  | $ | 70 |  |  | $ | 41 |  |  | $ | 111 |
|  |  |  |  |  | Quarterly Distributions Paid (in millions)
Related Period |  | Date Paid |  | Quarterly 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 |
2022 - 2nd Quarter |  | August 22, 2022 |  | 10.05 |  |  | 67 |  |  | 39 |  |  | 106 |
2022 - 3rd Quarter |  | November 21, 2022 |  | 1.77 |  |  | 12 |  |  | 7 |  |  | 19 |
Total 2022 quarterly distributions |  | $ | 19.32 |  |  | $ | 130 |  |  | $ | 75 |  |  | $ | 205 |

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- Definition Tabular disclosure of payment of cash or stock made to limited partner of limited partnership (LP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 + Details
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- Definition Tabular disclosure of information related to dividends declared, including paid and unpaid dividends. + References No definition available. + Details
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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, 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 No definition available. + Details
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