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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Tax (Benefit) Expense | Income tax (benefit) expense is comprised of the following:
| Year Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | 23 |  |  | $ | 118 |  |  | $ | 156 |
State | — |  |  | 9 |  |  | 14 |
Total current | 23 |  |  | 127 |  |  | 170 |
Deferred: |  |  |  |  |
Federal | (33) |  |  | 73 |  |  | (26) |
State | (16) |  |  | 7 |  |  | 13 |
Total deferred | (49) |  |  | 80 |  |  | (13) |
Total income tax (benefit) expense | $ | (26) |  |  | $ | 207 |  |  | $ | 157 |
Schedule of Reconciliation of Total Income Tax Expense (Benefit) to Income Tax Expense (Benefit) Computed by Applying the Statutory Federal Income Tax Rate to Pre-Tax (Loss) Income | The following is a reconciliation of total income tax (benefit) expense to income tax (benefit) expense computed by applying the statutory federal income tax rate to pretax income:
| Year Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
Tax computed at federal statutory rate | $ | 4 |  |  | $ | 228 |  |  | $ | 168 |
State income taxes, net of federal tax benefit | (4) |  |  | 28 |  |  | 28 |
Changes in enacted state tax rates, net of federal tax expense | — |  |  | (5) |  |  | — |
State tax incentives, net of federal tax expense | (9) |  |  | (11) |  |  | (6) |
Executive compensation | 1 |  |  | 4 |  |  | 2 |
Noncontrolling interest | (8) |  |  | (23) |  |  | (38) |
Renewable fuel incentives | (10) |  |  | (15) |  |  | (7) |
Other, net | — |  |  | 1 |  |  | 10 |
Total income tax (benefit) expense | $ | (26) |  |  | $ | 207 |  |  | $ | 157 |
Schedule of Income Tax Effect of Temporary Differences that Give Rise to Significant Portions of the Deferred Income Tax Assets and Deferred Income Tax Liabilities | The income tax effect of temporary differences that give rise to the Deferred income tax assets and Deferred income tax liabilities at December 31, 2024 and 2023 are as follows:
| December 31,
(in millions) | 2024 |  | 2023
Deferred income tax assets: |  |  |
Personnel accruals | $ | 10 |  |  | $ | 11 |
Inventories | 1 |  |  | 3 |
Right of use lease liability | 14 |  |  | 9 |
Contingent liabilities | 56 |  |  | 61 |
State tax credit carryforward, net | 17 |  |  | 12 |
Interest expense | 2 |  |  | — |
Total gross deferred income tax assets | 100 |  |  | 96 |
Unrealized gains/losses | (1) |  |  | (6) |
Prepaid expenses | (1) |  |  | (6) |
Right of use lease asset | (14) |  |  | (10) |
Investment in CVR Partners | (55) |  |  | (60) |
Investment in Joint Ventures | (1) |  |  | (15) |
Property, plant and equipment | (274) |  |  | (295) |
Turnaround costs | (31) |  |  | (30) |
Other | — |  |  | (1) |
Total gross deferred income tax liabilities | (377) |  |  | (423) |
Net deferred income tax liabilities | $ | (277) |  |  | $ | (327) |
Schedule of Reconciliation of the Unrecognized Tax Benefits | A reconciliation of unrecognized tax benefits is as follows:
| Year Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
Balance, beginning of year | $ | 1 |  |  | $ | 11 |  |  | $ | 17 |
Reductions related to expirations from statute of limitations | — |  |  | (10) |  |  | (6) |
Balance, end of year | $ | 1 |  |  | $ | 1 |  |  | $ | 11 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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