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Business Segments
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Business Segments
(13) Business Segments

CVR Energy’s revenues are primarily derived from the 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 each segment, as well as the total assets per segment. The CODM uses segment operating income (loss) and segment total assets to assess the results generated by each reportable segment and to decide, as applicable, 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:
Three Months Ended March 31, 2025
(in millions)Petroleum SegmentRenewables SegmentNitrogen Fertilizer SegmentOther / EliminationsConsolidated
Third-party sales$1,475 $28 $143 $— $1,646 
Inter-segment fees and sales2 38 — (40)— 
Net sales1,477 66 143 (40)1,646 
Less:
Cost of materials and other1,482 50 28 (43)1,517 
Direct operating expenses (exclusive of depreciation and amortization)93 6 54 1 154 
Selling, general and administrative expenses (exclusive of depreciation and amortization)21 4 8 4 37 
Depreciation and amortization41 6 18 3 68 
Loss on asset disposals1 — — — 1 
Segment operating (loss) income$(161)$— $35 $(5)$(131)
Reconciliation of Segment operating (loss) income to Net loss:
Interest expense, net$(25)
Other income, net2 
Income tax benefit49 
Net loss$(105)
Other segment disclosures:
Interest income$7 $— $1 $2 $10 
Interest expense(7)— (9)(19)(35)
Capital expenditures (1)
49 — 6 — 55 
Three Months Ended March 31, 2024
(in millions)Petroleum SegmentRenewables SegmentNitrogen Fertilizer SegmentOther / EliminationsConsolidated
Third-party sales$1,718 $17 $128 $— $1,863 
Inter-segment fees and sales4 16 — (20)— 
Net sales1,722 33 128 (20)1,863 
Less:
Cost of materials and other1,432 29 25 (23)1,463 
Direct operating expenses (exclusive of depreciation and amortization)103 5 56 — 164 
Selling, general and administrative expenses (exclusive of depreciation and amortization)20 3 8 5 36 
Depreciation and amortization48 6 19 3 76 
Loss on asset disposals1 — — — 1 
Segment operating income (loss)$118 $(10)$20 $(5)$123 
Reconciliation of Segment operating income (loss) to Net income:
Interest expense, net$(20)
Other income, net4 
Income tax expense(17)
Net income$90 
Other segment disclosures:
Interest income$5 $— $— $8 $13 
Interest expense(1)— (8)(24)(33)
Capital expenditures (1)
36 8 5 2 51 

The following table summarizes the reconciliation of total assets by segment to consolidated total assets:
(in millions)March 31, 2025December 31, 2024
Petroleum$3,297 $3,288 
Renewables422 420 
Nitrogen Fertilizer1,014 1,019 
Other, including intersegment eliminations(482)(464)
Total assets$4,251 $4,263 
(1)Capital expenditures are shown exclusive of capitalized turnaround expenditures.