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Related Party Transactions | 12 Months Ended
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Dec. 31, 2023
Related Party Transactions [Abstract] |
Related Party Transactions | (17) Related Party Transactions Activity associated with the Company’s related party arrangements for the years ended December 31, 2023, 2022, and 2021 is summarized below: Related Party Activity
| Year Ended December 31,
(in millions) | 2023 |  | 2022 |  | 2021
Sales to related parties: |  |  |  |  |
CVRP JV CO Contract (1) | $ | 4 |  |  | $ | — |  |  | $ | — |
Purchases from related parties: |  |  |  |  |
Enable Joint Venture Transportation Agreement | 12 |  |  | 10 |  |  | 11 |
Midway Joint Venture Agreement (2) | 24 |  |  | 22 |  |  | 20 |
Payments: |  |  |  |  |
Dividends (3) | 311 |  |  | 342 |  |  | 348 |
(1)Sales to related parties, included in Net sales in our Consolidated Statements of Operations, consists of CO sales to a CVRP JV subsidiary. (2)Purchases from related parties, included in Cost of materials and other in our Consolidated Statements of Operations, 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 years ended December 31, 2023, 2022, and 2021. Enable Joint Venture Transportation and Terminalling Services Agreements We are party to a transportation agreement, effective September 19, 2016, as part of the Enable JV for an initial term of 20 years under which Enable provides transportation services for crude oil purchased within a defined geographic area. Additionally, we entered into a terminalling services agreement, effective September 19, 2016, with Enable JV under which it receives access to Enable JV’s terminal in Lawrence, Oklahoma to unload and pump crude oil into Enable JV’s pipeline for an initial term of 20 years. Dividends to CVR Energy Stockholders Dividends, if any, including the payment, amount and timing thereof, are determined at the discretion of 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 tables present quarterly and 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 |
2023 - 1st Quarter |  | May 22, 2023 |  | 0.50 |  |  | 15 |  |  | 36 |  |  | 50 |
2023 - 2nd Quarter |  | August 21, 2023 |  | 0.50 |  |  | 15 |  |  | 36 |  |  | 50 |
2023 - 3rd Quarter |  | November 20, 2023 |  | 0.50 |  |  | 17 |  |  | 33 |  |  | 50 |
Total 2023 quarterly dividends |  | $ | 2.00 |  |  | $ | 61 |  |  | $ | 140 |  |  | $ | 201 |
|  |  |  |  |  | Special Dividends Paid (in millions)
Related Period |  | Date Paid |  | Special Dividends Per Share |  | Public Stockholders |  | IEP |  | Total
2023 - 2nd Quarter |  | August 21, 2023 |  | $ | 1.00 |  |  | $ | 29 |  |  | $ | 71 |  |  | $ | 101 |
2023 - 3rd Quarter |  | November 20, 2023 |  | 1.50 |  |  | 51 |  |  | 100 |  |  | 151 |
Total 2023 special dividends |  | $ | 2.50 |  |  | $ | 80 |  |  | $ | 171 |  |  | $ | 251 |
|  |  |  |  |  | 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 |  |  | $ | 36 |  |  | $ | 85 |  |  | $ | 121 |
|  |  |  |  |  | Special Dividends Paid (in millions)
Related Period |  | Date Paid |  | Special Dividends Per Share |  | Public Stockholders |  | IEP |  | Total
2022 - 2nd Quarter |  | August 22, 2022 |  | $ | 2.60 |  |  | $ | 76 |  |  | $ | 185 |  |  | $ | 261 |
2022 - 3rd Quarter |  | November 21, 2022 |  | 1.00 |  |  | 29 |  |  | 71 |  |  | 101 |
Total 2022 special dividends |  | $ | 3.60 |  |  | $ | 106 |  |  | $ | 256 |  |  | $ | 362 |
There were no quarterly dividends declared or 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 fourth quarter of 2023, the Company, upon approval by the Board on February 20, 2024, declared a cash dividend of $0.50 per share, or $50 million, which is payable March 11, 2024 to shareholders of record as of March 4, 2024. Of this amount, IEP will receive $33 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, and UAN GP Board’s distribution policy, including the definition of available cash, are subject to change at the discretion of the UAN GP Board. The following tables present quarterly distributions paid by CVR Partners to CVR Partners’ unitholders, including amounts received by the Company, as of December 31, 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 |
2023 - 1st Quarter |  | May 22, 2023 |  | 10.43 |  |  | 70 |  |  | 41 |  |  | 110 |
2023 - 2nd Quarter |  | August 21, 2023 |  | 4.14 |  |  | 28 |  |  | 16 |  |  | 44 |
2023 - 3rd Quarter |  | November 20, 2023 |  | 1.55 |  |  | 10 |  |  | 6 |  |  | 16 |
Total 2023 quarterly distributions |  | $ | 26.62 |  |  | $ | 178 |  |  | $ | 104 |  |  | $ | 281 |
|  |  |  |  |  | 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 |  |  | $ | 129 |  |  | $ | 75 |  |  | $ | 205 |
|  |  |  |  |  | Quarterly Distributions Paid (in millions)
Related Period |  | Date Paid |  | Quarterly Distributions Per Common Unit |  | Public Unitholders |  | CVR Energy |  | Total
2021 - 2nd Quarter |  | August 23, 2021 |  | $ | 1.72 |  |  | $ | 12 |  |  | $ | 7 |  |  | $ | 18 |
2021 - 3rd Quarter |  | November 22, 2021 |  | 2.93 |  |  | 20 |  |  | 11 |  |  | 31 |
Total 2021 quarterly distributions |  | $ | 4.65 |  |  | $ | 32 |  |  | $ | 18 |  |  | $ | 50 |
There were no quarterly distributions declared or paid by CVR Partners related to the first quarter of 2021 and the fourth quarter of 2020. For the fourth quarter of 2023, CVR Partners, upon approval by the UAN GP Board on February 20, 2024, declared a distribution of $1.68 per common unit, or $18 million, which is payable March 11, 2024 to unitholders of record as of March 4, 2024. Of this amount, CVR Energy will receive approximately $7 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 -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-5 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-6 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(g)(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//850/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-6 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1 + Details
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