XML 71 R23.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Business Segments | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Reporting [Abstract] |
Business Segments | (15) Business Segments CVR Energy’s revenues are primarily derived from two reportable segments: Petroleum and Nitrogen Fertilizer. 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 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 tables summarize operating results and capital expenditures information by segment:
| Year Ended December 31, 2023
(in millions) | Petroleum Segment |  | Nitrogen Fertilizer Segment |  | Other / Eliminations |  | Consolidated
Net sales | $ | 8,267 |  |  | $ | 681 |  |  | $ | 299 |  |  | $ | 9,247 |
Inter-segment fees and sales | 20 |  |  | — |  |  | (20) |  |  | — |
Total sales | 8,287 |  |  | 681 |  |  | 279 |  |  | 9,247 |
Operating income (loss) | $ | 982 |  |  | $ | 201 |  |  | $ | (60) |  |  | $ | 1,123 |
Interest income (expense) | 75 |  |  | (29) |  |  | (98) |  |  | (52) |
Other income, net |  |  |  |  |  |  | 14 |
Income before income tax expense |  |  |  |  |  |  | $ | 1,085 |
Depreciation and amortization | $ | 189 |  |  | $ | 80 |  |  | $ | 29 |  |  | $ | 298 |
Capital expenditures (1) | 108 |  |  | 29 |  |  | 60 |  |  | 197 |
| Year Ended December 31, 2022
(in millions) | Petroleum Segment |  | Nitrogen Fertilizer Segment |  | Other / Eliminations |  | Consolidated
Net sales | $ | 9,902 |  |  | $ | 836 |  |  | $ | 158 |  |  | $ | 10,896 |
Inter-segment fees and sales | 17 |  |  | — |  |  | (17) |  |  | — |
Total sales | 9,919 |  |  | 836 |  |  | 141 |  |  | 10,896 |
Operating income (loss) | $ | 719 |  |  | $ | 320 |  |  | $ | (76) |  |  | $ | 963 |
Interest income (expense) | 41 |  |  | (34) |  |  | (92) |  |  | (85) |
Other expense, net |  |  |  |  |  |  | (77) |
Income before income tax expense |  |  |  |  |  |  | $ | 801 |
Depreciation and amortization | $ | 187 |  |  | $ | 82 |  |  | $ | 19 |  |  | $ | 288 |
Capital expenditures (1) | 86 |  |  | 41 |  |  | 76 |  |  | 203 |
| Year Ended December 31, 2021
(in millions) | Petroleum Segment |  | Nitrogen Fertilizer Segment |  | Other / Eliminations |  | Consolidated
Net sales | $ | 6,710 |  |  | $ | 533 |  |  | $ | (1) |  |  | $ | 7,242 |
Inter-segment fees and sales | 11 |  |  | — |  |  | (11) |  |  | — |
Total sales | 6,721 |  |  | 533 |  |  | (12) |  |  | 7,242 |
Operating (loss) income | $ | (27) |  |  | $ | 134 |  |  | $ | (20) |  |  | $ | 87 |
Interest income (expense) | 21 |  |  | (61) |  |  | (77) |  |  | (117) |
Investment income on marketable securities |  |  |  |  |  |  | 81 |
Other income, net |  |  |  |  |  |  | 15 |
Income before income tax benefit |  |  |  |  |  |  | $ | 66 |
Depreciation and amortization | $ | 203 |  |  | $ | 73 |  |  | $ | 3 |  |  | $ | 279 |
Capital expenditures (1) | 50 |  |  | 26 |  |  | 150 |  |  | 226 |
The following table summarizes total assets by segment:
| December 31,
(in millions) | 2023 |  | 2022 |  |
Petroleum | $ | 2,978 |  |  | $ | 4,354 |  |  |
Nitrogen Fertilizer | 975 |  |  | 1,100 |  |  |
Other, including inter-segment eliminations (2) | 754 |  |  | (1,335) |  |  |
Total assets | $ | 4,707 |  |  | $ | 4,119 |  |  |
(1)Capital expenditures are shown exclusive of capitalized turnaround expenditures and business combinations. (2)Other includes amounts for the Wynnewood renewable diesel unit project and renewable feedstock pretreater project.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration