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Related Party Transactions (Tables) | 9 Months Ended
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Sep. 30, 2024
Related Party Transactions [Abstract] |
Schedule of Related Party Transactions | Activity associated with the Company’s related party arrangements for the three and nine months ended September 30, 2024 and 2023 is summarized below:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Sales to related parties: |  |  |  |  |  |  |
CVRP JV CO Contract (1) | $ | 1 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 3 |
Purchases from related parties: |  |  |  |  |  |  |
Enable Joint Venture Transportation Agreement | 3 |  |  | 3 |  |  | 9 |  |  | 9 |
Midway Joint Venture Agreement (2) | 6 |  |  | 6 |  |  | 20 |  |  | 17 |
Payments: |  |  |  |  |  |  |
Dividends (3) | 33 |  |  | 107 |  |  | 100 |  |  | 178 |
(1)Sales to related parties, included in Net sales in our Condensed 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 Condensed Consolidated Statements of Operations, represents reimbursements for crude oil transportation services incurred on the Midway JV through the intermediary purchasing agent. (3)See below for a summary of the dividends paid to IEP during the nine months ended September 30, 2024 and year ended December 31, 2023.
Schedule of Dividends Paid | The following tables present quarterly and special dividends paid to the Company’s stockholders, including IEP, during 2024 and 2023 (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
2023 - 4th Quarter |  | March 11, 2024 |  | $ | 0.50 |  |  | $ | 17 |  |  | $ | 33 |  |  | $ | 50 |
2024 - 1st Quarter |  | May 20, 2024 |  | 0.50 |  |  | 17 |  |  | 33 |  |  | 50 |
2024 - 2nd Quarter |  | August 19, 2024 |  | 0.50 |  |  | 17 |  |  | 33 |  |  | 50 |
Total 2024 quarterly dividends |  | $ | 1.50 |  |  | $ | 51 |  |  | $ | 100 |  |  | $ | 151 |
|  |  |  |  |  | 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 |
Schedule of Distributions Paid | The following tables present quarterly distributions paid by CVR Partners to CVR Partners’ unitholders, including amounts received by the Company, during 2024 and 2023 (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
2023 - 4th Quarter |  | March 11, 2024 |  | $ | 1.68 |  |  | $ | 11 |  |  | $ | 7 |  |  | $ | 18 |
2024 - 1st Quarter |  | May 20, 2024 |  | 1.92 |  |  | 13 |  |  | 7 |  |  | 20 |
2024 - 2nd Quarter |  | August 19, 2024 |  | 1.90 |  |  | 13 |  |  | 7 |  |  | 20 |
Total 2024 quarterly distributions |  | $ | 5.50 |  |  | $ | 37 |  |  | $ | 21 |  |  | $ | 58 |
|  |  |  |  |  | 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 |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, 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 No definition available. + Details
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