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Derivative Financial Instruments | 6 Months Ended
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Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | (9) Derivative Financial Instruments The following outlines the net notional buy (sell) position of our commodity derivative instruments held as of June 30, 2025 and December 31, 2024:
(in thousands of barrels) | Commodity |  | June 30, 2025 |  | December 31, 2024
Forwards | Crude |  | 276 |  |  | (11) |
Swaps | NYMEX Diesel Cracks (1) |  | (975) |  |  | (63) |
Futures | ULSD |  | (60) |  |  | (80) |
Futures | Soybean |  | (41) |  |  | 79 |
(1)As of June 30, 2025, the Company held offsetting NYMEX Diesel Crack commodity buy and sell positions of approximately 2.6 million barrels. The following outlines the balances of our commodity derivative instruments after the effects of contract netting and allocation of collateral and their classifications on our Condensed Consolidated Balance Sheets. Refer to Note 10 (“Fair Value Measurements”) for the gross amounts of the commodity derivative instruments (before the effects of contract netting and allocation of collateral):
| June 30, 2025 |  | December 31, 2024
(in millions) | Assets |  | Liabilities |  | Assets |  | Liabilities
Other current assets | $ | 5 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |
The following table represents CVR Energy’s incurred realized and unrealized net gains from derivative activities, recorded in Cost of materials and other on the Condensed Consolidated Statements of Operations:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Commodity derivative instruments | $ | 4 |  |  | $ | 23 |  |  | $ | 19 |  |  | $ | 5 |
CVR Energy has certain derivative instruments that contain credit risk-related contingent provisions associated with our credit ratings. If our credit rating were to be downgraded, it would allow the counterparty to require us to post collateral or to request immediate, full settlement of derivative instruments in liability positions. As of June 30, 2025, there were no derivative liabilities with credit risk-related contingent provisions.

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