XML 95 R23.htm IDEA: XBRL DOCUMENT
v3.25.2

Related Party Transactions | 6 Months Ended
--- | ---
Jun. 30, 2025
Related Party Transactions [Abstract] |
Related Party Transactions | (15) Related Party Transactions Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2025 and 2024 is summarized below:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Sales to related parties: |  |  |  |  |  |  |
CVRP JV CO Contract (1) | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Purchases from related parties: |  |  |  |  |  |  |
Enable Joint Venture Transportation Agreement | 3 |  |  | 3 |  |  | 7 |  |  | 6 |
Midway Joint Venture Agreement (2) | — |  |  | 7 |  |  | — |  |  | 13 |
Payments: |  |  |  |  |  |  |
Dividends (3) | — |  |  | 33 |  |  | — |  |  | 67 |
(1)Sales to related parties, included in Net sales in our Condensed Consolidated Statements of Operations, consists of CO sales to a CVRP JV subsidiary. (2)Purchases from related parties, included in Cost of materials and other in our Condensed Consolidated Statements of Operations, represent reimbursements for crude oil transportation services incurred on the crude oil pipeline connecting the refinery in Coffeyville, Kansas and the Cushing, Oklahoma oil hub (the “Midway Pipeline”) through Gunvor as the intermediary purchasing agent. On December 23, 2024, the Company sold the 50% limited liability company interest it owned in the Midway Pipeline. (3)See below for a summary of the dividends paid to IEP during the six months ended June 30, 2025 and year ended December 31, 2024. Dividends to CVR Energy Stockholders Dividends, if any, including the payment, amount and timing thereof, are determined at the discretion of the board of directors of the Company (the “Board”). IEP, through its ownership of the Company’s common stock, is entitled to receive dividends that are declared and paid by the Company based on the number of shares held at each record date. The following table presents quarterly dividends paid to the Company’s stockholders, including IEP, during 2024 (amounts presented in the table below may not add to totals presented due to rounding):
|  |  |  |  |  | Quarterly Dividends Paid (in millions)
Related Period |  | Date Paid |  | Quarterly Dividends Per Share |  | Public Stockholders |  | IEP |  | Total
2023 - 4th Quarter |  | March 11, 2024 |  | $ | 0.50 |  |  | $ | 17 |  |  | $ | 33 |  |  | $ | 50 |
2024 - 1st Quarter |  | May 20, 2024 |  | 0.50 |  |  | 17 |  |  | 33 |  |  | 50 |
2024 - 2nd Quarter |  | August 19, 2024 |  | 0.50 |  |  | 17 |  |  | 33 |  |  | 50 |
Total 2024 quarterly dividends |  | $ | 1.50 |  |  | $ | 51 |  |  | $ | 100 |  |  | $ | 151 |
There were no quarterly dividends declared or paid during the fourth quarter of 2024, first quarter of 2025, or second quarter of 2025 related to the third and fourth quarter of 2024 and first quarter of 2025, respectively. There were no quarterly dividends declared for the second quarter of 2025. Distributions to CVR Partners’ Unitholders Distributions, if any, including the payment, amount and timing thereof, and the board of directors of CVR Partners’ general partner’s (the “UAN GP Board”) distribution policy, including the definition of available cash, are subject to change at the discretion of the UAN GP Board. The following tables present quarterly distributions paid by CVR Partners to CVR Partners’ unitholders, including amounts received by the Company and IEP, during 2025 and 2024 (amounts presented in the tables below may not add to totals presented due to rounding):
|  |  |  | Quarterly Distributions Per Common Unit |  | Quarterly Distributions Paid (in millions)
Related Period |  | Date Paid |  |  | Public Unitholders |  | IEP |  | CVR Energy |  | Total
2024 - 4th Quarter |  | March 10, 2025 |  | $ | 1.75 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 7 |  |  | $ | 18 |
2025 - 1st Quarter |  | May 19, 2025 |  | 2.26 |  |  | 14 |  |  | 1 |  |  | 9 |  |  | 24 |
Total 2025 quarterly distributions |  | $ | 4.01 |  |  | $ | 26 |  |  | $ | 1 |  |  | $ | 16 |  |  | $ | 42 |
2023 - 4th Quarter |  | March 11, 2024 |  | $ | 1.68 |  |  | $ | 11 |  |  | $ | — |  |  | $ | 7 |  |  | $ | 18 |
2024 - 1st Quarter |  | May 20, 2024 |  | 1.92 |  |  | 13 |  |  | — |  |  | 7 |  |  | 20 |
2024 - 2nd Quarter |  | August 19, 2024 |  | 1.90 |  |  | 13 |  |  | — |  |  | 7 |  |  | 20 |
2024 - 3rd Quarter |  | November 18, 2024 |  | 1.19 |  |  | 7 |  |  | — |  |  | 5 |  |  | 13 |
Total 2024 quarterly distributions |  | $ | 6.69 |  |  | $ | 44 |  |  | $ | — |  |  | $ | 26 |  |  | $ | 71 |
For the second quarter of 2025, CVR Partners, upon approval by the UAN GP Board on July 30, 2025, declared a distribution of $3.89 per common unit, or approximately $41 million, which is payable August 18, 2025 to unitholders of record as of August 11, 2025. Of this amount, CVR Energy and IEP will receive approximately $15 million and $1 million, respectively, with the remaining amount payable to public unitholders.

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-5 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-6 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(g)(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(e)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/850/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-6 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration