XML 89 R23.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Business Segments | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
Business Segments | (15) Business Segments Effective with this Report and due to the prominence of the renewables business relative to the Company’s overall 2024 performance, the Company has revised its reportable segments to reflect a new reportable segment – Renewables. The Renewables Segment includes the operations of the renewable diesel unit and renewable feedstock pretreater at the refinery located in Wynnewood, Oklahoma. Results of the Renewables Segment were not previously included within our reportable segments, rather included within “Other”. Prior period segment information has been retrospectively adjusted to reflect the current segment presentation. As a result, CVR Energy has three reportable segments: Petroleum, Renewables, and Nitrogen Fertilizer, which were determined based on the management approach, reflecting the internal reporting used by the Chief Operating Decision Maker (“CODM”), the Company’s Chief Executive Officer, to evaluate performance and make strategic decisions. •Petroleum includes the refining and marketing of high value transportation fuels which consist of gasoline, diesel, jet fuel, and distillates. The Petroleum Segment also includes activities related to crude gathering and logistics that support the refinery operations. •Renewables includes the refining of renewable feedstocks, such as soybean oil, corn oil, and other renewable feedstocks, into renewable diesel and marketing of renewables products. •Nitrogen Fertilizer includes the production and sales of nitrogen fertilizer products, primarily in the form of ammonia and UAN, for the farming industry. The CODM evaluates the performance of each reportable segment and decides how to allocate resources based on segment operating income (loss) which includes the revenue and expenses that are directly attributable to management of each segment, as well as the total assets per segment. The CODM uses segment operating income (loss) and segment total assets to assess the income generated by each reportable segment and to decide which reportable segment to reinvest profits, if at all, or pay dividends. Segment operating income (loss) is also used to analyze performance against the budget and the Company’s competitors. The other amounts reflect 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 present the operating results and capital expenditures information by segment, the reconciliations to the consolidated net profit (loss), and other required disclosures:
| Year Ended December 31, 2024
(in millions) | Petroleum Segment |  | Renewables Segment |  | Nitrogen Fertilizer Segment |  | Other / Eliminations |  | Consolidated
Third-party sales | $ | 6,909 |  |  | $ | 177 |  |  | $ | 524 |  |  | $ | — |  |  | $ | 7,610 |
Inter-segment fees and sales | 11 |  |  | 112 |  |  | 1 |  |  | (124) |  |  | — |
Net sales | 6,920 |  |  | 289 |  |  | 525 |  |  | (124) |  |  | 7,610 |
Less: |  |  |  |  |  |  |  |  |
Cost of materials and other | 6,236 |  |  | 245 |  |  | 104 |  |  | (137) |  |  | 6,448 |
Direct operating expenses (exclusive of depreciation and amortization) | 421 |  |  | 31 |  |  | 214 |  |  | 1 |  |  | 667 |
Selling, general and administrative expenses (exclusive of depreciation and amortization) | 77 |  |  | 10 |  |  | 29 |  |  | 23 |  |  | 139 |
Depreciation and amortization | 174 |  |  | 25 |  |  | 88 |  |  | 11 |  |  | 298 |
Segment operating income (loss) | $ | 12 |  |  | $ | (22) |  |  | $ | 90 |  |  | $ | (22) |  |  | $ | 58 |
Reconciliation of Segment operating income (loss) to Net income: |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  | $ | (77) |
Other income, net |  |  |  |  |  |  |  |  | 38 |
Income tax benefit |  |  |  |  |  |  |  |  | 26 |
Net income |  |  |  |  |  |  |  |  | $ | 45 |
Other segment disclosures: |  |  |  |  |  |  |  |  |
Interest income | $ | 22 |  |  | $ | 1 |  |  | $ | 4 |  |  | $ | 11 |  |  | $ | 38 |
Interest expense | (1) |  |  | — |  |  | (34) |  |  | (80) |  |  | (115) |
Capital expenditures (1) | 128 |  |  | 11 |  |  | 37 |  |  | 5 |  |  | 181 |
| Year Ended December 31, 2023
(in millions) | Petroleum Segment |  | Renewables Segment |  | Nitrogen Fertilizer Segment |  | Other / Eliminations |  | Consolidated
Net sales | $ | 8,267 |  |  | $ | 299 |  |  | $ | 681 |  |  | $ | — |  |  | $ | 9,247 |
Inter-segment fees and sales | 20 |  |  | 260 |  |  | — |  |  | (280) |  |  | — |
Total sales | 8,287 |  |  | 559 |  |  | 681 |  |  | (280) |  |  | 9,247 |
Less: |  |  |  |  |  |  |  |  |
Cost of materials and other | 6,629 |  |  | 537 |  |  | 134 |  |  | (287) |  |  | 7,013 |
Direct operating expenses (exclusive of depreciation and amortization) | 406 |  |  | 28 |  |  | 235 |  |  | 1 |  |  | 670 |
Selling, general and administrative expenses (exclusive of depreciation and amortization) | 81 |  |  | 11 |  |  | 30 |  |  | 19 |  |  | 141 |
Depreciation and amortization | 189 |  |  | 20 |  |  | 80 |  |  | 9 |  |  | 298 |
Loss on asset disposals | — |  |  | — |  |  | 1 |  |  | 1 |  |  | 2 |
Segment operating income (loss) | $ | 982 |  |  | $ | (37) |  |  | $ | 201 |  |  | $ | (23) |  |  | $ | 1,123 |
Reconciliation of Segment operating income (loss) to Net income: |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  | $ | (52) |
Other income, net |  |  |  |  |  |  |  |  | 14 |
Income tax expense |  |  |  |  |  |  |  |  | (207) |
Net income |  |  |  |  |  |  |  |  | $ | 878 |
Other segment disclosures: |  |  |  |  |  |  |  |  |
Interest income | $ | 75 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | (45) |  |  | $ | 38 |
Interest expense | — |  |  | (1) |  |  | (35) |  |  | (54) |  |  | (90) |
Capital expenditures (1) | 108 |  |  | 56 |  |  | 29 |  |  | 4 |  |  | 197 |
| Year Ended December 31, 2022
(in millions) | Petroleum Segment |  | Renewables Segment |  | Nitrogen Fertilizer Segment |  | Other / Eliminations |  | Consolidated
Net sales | $ | 9,902 |  |  | $ | 158 |  |  | $ | 836 |  |  | $ | — |  |  | $ | 10,896 |
Inter-segment fees and sales | 17 |  |  | 180 |  |  | — |  |  | (197) |  |  | — |
Total sales | 9,919 |  |  | 338 |  |  | 836 |  |  | (197) |  |  | 10,896 |
Less: |  |  |  |  |  |  |  |  |
Cost of materials and other | 8,488 |  |  | 342 |  |  | 133 |  |  | (197) |  |  | 8,766 |
Direct operating expenses (exclusive of depreciation and amortization) | 426 |  |  | 24 |  |  | 269 |  |  | — |  |  | 719 |
Selling, general and administrative expenses (exclusive of depreciation and amortization) | 88 |  |  | 3 |  |  | 32 |  |  | 26 |  |  | 149 |
Depreciation and amortization | 187 |  |  | 16 |  |  | 82 |  |  | 3 |  |  | 288 |
Loss on asset disposals | 11 |  |  | — |  |  | — |  |  | — |  |  | 11 |
Segment operating income (loss) | $ | 719 |  |  | $ | (47) |  |  | $ | 320 |  |  | $ | (29) |  |  | $ | 963 |
Reconciliation of Segment operating income (loss) to Net income: |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  | $ | (85) |
Other expense, net |  |  |  |  |  |  |  |  | (77) |
Income tax expense |  |  |  |  |  |  |  |  | (157) |
Net income |  |  |  |  |  |  |  |  | $ | 644 |
Other segment disclosures: |  |  |  |  |  |  |  |  |
Interest income | $ | 43 |  |  | $ | — |  |  | $ | 2 |  |  | $ | (37) |  |  | $ | 8 |
Interest expense | (2) |  |  | — |  |  | (36) |  |  | (55) |  |  | (93) |
Capital expenditures (1) | 86 |  |  | 69 |  |  | 41 |  |  | 7 |  |  | 203 |
The following table summarizes the reconciliation of total assets by segment to consolidated total assets:
| December 31,
(in millions) | 2024 |  | 2023 |  |
Petroleum | $ | 3,288 |  |  | $ | 2,978 |  |  |
Renewables | 420 |  |  | 344 |  |  |
Nitrogen Fertilizer | 1,019 |  |  | 975 |  |  |
Other, including inter-segment eliminations | (464) |  |  | 410 |  |  |
Total assets | $ | 4,263 |  |  | $ | 4,707 |  |  |
(1)Capital expenditures are shown exclusive of capitalized turnaround expenditures.

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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -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 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: 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 13: 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 14: 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 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: 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 18: 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 19: 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 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: 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 22: 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 23: 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 24: 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 25: 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