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Derivative Financial Instruments and Investments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Positions Held

The following outlines the net notional buy (sell) position of our commodity derivative instruments held as of December 31, 2023 and 2022:

									December 31,
(in thousands of barrels)			Commodity						2023						2022
Forwards			Crude						247						373
Swaps			NYMEX Diesel Cracks						(6,780)						—
Swaps			NYMEX RBOB Cracks						(1,275)						—
Swaps			NYMEX 2-1-1 Cracks						(3,030)						—
Futures			Crude						—						(150)
Futures			ULSD						—						(215)
Futures			Soybean						—						(109)

Schedule of Derivative Offsetting Assets

The following outlines the balances of our commodity derivative instruments as of December 31, 2023 and 2022 after the effects of contract netting and allocation of collateral and their classifications in the Consolidated Balance Sheets. Refer to Note 11 (“Fair Value Measurements”) for the gross amounts of the commodity derivative instruments (before the effects of contract netting and allocation of collateral):

			December 31,
			2023												2022
(in millions)			Assets						Liabilities						Assets						Liabilities
Prepaid expenses and other current assets			$	24					$	—					$	—					$	—
Other long-term assets			1						—						—						—
Other current liabilities			—						—						—						(4)

Schedule of Derivative Offsetting Liabilities

The following outlines the balances of our commodity derivative instruments as of December 31, 2023 and 2022 after the effects of contract netting and allocation of collateral and their classifications in the Consolidated Balance Sheets. Refer to Note 11 (“Fair Value Measurements”) for the gross amounts of the commodity derivative instruments (before the effects of contract netting and allocation of collateral):

			December 31,
			2023												2022
(in millions)			Assets						Liabilities						Assets						Liabilities
Prepaid expenses and other current assets			$	24					$	—					$	—					$	—
Other long-term assets			1						—						—						—
Other current liabilities			—						—						—						(4)

Schedule of Gains (Losses) on Derivatives

The following table represents CVR Energy’s incurred realized and unrealized net gains (losses) from derivative activities, recorded in Cost of materials and other on the Consolidated Statements of Operations:

			Year Ended December 31,
(in millions)			2023						2022						2021
Commodity derivative instruments			$	5					$	(55)					$	(44)

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Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

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