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Business Segments
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Business Segments
(14) Business Segments

CVR Energy’s revenues are primarily derived from the 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 Condensed Consolidated Statements of Operations. The other amounts reflect renewable fuels transactions, 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 table summarizes certain operating results and capital expenditures information by segment:
Three Months Ended March 31, 2024
(in millions)Petroleum SegmentNitrogen Fertilizer SegmentOther / EliminationsConsolidated
Net sales$1,718 $128 $17 $1,863 
Inter-segment fees and sales4 — (4)— 
Total net sales1,722 128 13 1,863 
Operating income (loss)$118 $20 $(15)$123 
Interest income (expense)(20)
Other income, net4 
Income before income tax expense$107 
Depreciation and amortization$48 $19 $9 $76 
Capital expenditures (1)
36 5 10 51 

Three Months Ended March 31, 2023
(in millions)Petroleum SegmentNitrogen Fertilizer SegmentOther / EliminationsConsolidated
Net sales$1,987 $226 $73 $2,286 
Inter-segment fees and sales6 — (6)— 
Total net sales1,993 226 67 2,286 
Operating income (loss)$237 $109 $(16)$330 
Interest income (expense)(18)
Other income, net3 
Income before income tax expense$315 
Depreciation and amortization$46 $15 $7 $68 
Capital expenditures (1)
42 4 13 59 

The following table summarizes total assets by segment:
(in millions)March 31, 2024December 31, 2023
Petroleum$2,986 $2,978 
Nitrogen Fertilizer972 975 
Other, including intersegment eliminations135 754 
Total assets$4,093 $4,707 
(1)Capital expenditures are shown exclusive of capitalized turnaround expenditures.