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Long-Term Debt and Finance Lease Obligations (Tables) | 12 Months Ended
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Dec. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term debt and Finance Lease Obligations | Long-term debt and finance lease obligations consisted of the following:
| December 31,
(in millions) | 2023 |  | 2022
CVR Energy: |  |  |
5.25% Senior Notes, due February 2025, net of current portion (1) | $ | — |  |  | $ | 600 |
5.75% Senior Notes, due February 2028 | 400 |  |  | 400 |
8.50% Senior Notes, due January 2029 | 600 |  |  | — |
Unamortized debt issuance costs | (5) |  |  | (4) |
Total CVR Energy debt | 995 |  |  | 996 |
Petroleum Segment: |  |  |
Finance lease obligations, net of current portion | 37 |  |  | 42 |
Total Petroleum Segment finance lease obligations, net of current portion | 37 |  |  | 42 |
Nitrogen Fertilizer Segment: |  |  |
6.125% Senior Secured Notes, due June 2028 | 550 |  |  | 550 |
Unamortized debt issuance costs | (3) |  |  | (3) |
Total Nitrogen Fertilizer Segment debt | 547 |  |  | 547 |
Total long-term debt and finance lease obligations, net of current portion | 1,579 |  |  | 1,585 |
Current portion of long-term debt and finance lease obligations (1) | 606 |  |  | 6 |
Total long-term debt and finance lease obligations, including current portion | $ | 2,185 |  |  | $ | 1,591 |
(1)On December 21, 2023, the Company delivered a notice of redemption to the holders of its 5.25% Senior Notes, due February 2025 (the “2025 Notes”), that all outstanding amounts of the 2025 Notes, plus any accrued and unpaid interest to the redemption date, would be redeemed on February 15, 2024. As such, the outstanding balance of the $600 million principal amount of the 2025 Notes was classified as short-term as of December 31, 2023. On February 15, 2024, the 2025 Notes were redeemed in full, at par, plus accrued and unpaid interest to the redemption date. Credit Agreements
(in millions) | Total Available Borrowing Capacity |  | Amount Borrowed as of December 31, 2023 |  | Outstanding Letters of Credit |  | Available Capacity as of December 31, 2023 |  | Maturity Date
CVR Energy: |  |  |  |  |  |  |  |  |
Amended and Restated Asset Based (“CVR Energy ABL”) Credit Agreement | $ | 275 |  |  | $ | — |  |  | $ | 26 |  |  | $ | 249 |  |  | June 30, 2027
Nitrogen Fertilizer Segment: |  |  |  |  |  |  |  |  |
Asset Based (“CVR Partners ABL”) Credit Agreement | $ | 39 |  |  | $ | — |  |  | $ | — |  |  | $ | 39 |  |  | September 26, 2028
Debt Instrument Redemption | On or after January 15, 2026, we may on any one or more occasions, redeem all or part of the 2029 Notes at the redemption price set forth below expressed as a percentage of the principal amount of the respective note, plus accrued and unpaid interest to the applicable redemption date.
12-month period beginning February 15, |  | Percentage
2026 |  | 104.250%
2027 |  | 102.125%
2028 |  | 100.000%
On or after February 15, 2022 and February 15, 2023, we may on any one or more occasions, redeem all or part of the 2025 Notes and 2028 Notes, respectively, at the redemption prices set forth below expressed as a percentage of the principal amount of the respective notes, plus accrued and unpaid interest to the applicable redemption date.
2025 Notes |  | 2028 Notes
12-month period beginning February 15, |  | Percentage |  | 12-month period beginning February 15, |  | Percentage
2023 |  | 101.313% |  | 2023 |  | 102.875%
2024 |  | 100.000% |  | 2024 |  | 101.917%
|  |  |  | 2025 |  | 100.958%
|  |  |  | 2026 and thereafter |  | 100.000%
On or after June 15, 2024, the Issuers may, on any one or more occasions, redeem all or part of the 2028 UAN Notes at the redemption prices set forth below, expressed as a percentage of the principal amount of the respective notes, plus accrued and unpaid interest to the applicable redemption date.
12-month period beginning June 15, |  | Percentage
2024 |  | 103.063%
2025 |  | 101.531%
2026 and thereafter |  | 100.000%

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