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Income Taxes (Tables)

12 Months Ended

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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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

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-Topic 740
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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