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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:              
Net (loss) income $ (90) $ (105) $ 38 $ 90 $ (195) $ 128  
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:              
Depreciation and amortization 78   72   146 149  
Deferred income taxes and unrecognized tax benefits         (91) (48)  
Share-based compensation         18 10  
Unrealized loss (gain) on derivatives, net         (1) 7  
Income from equity method investments         (2) (7)  
Return from equity method investment earnings         2 7  
Other items         8 3  
Changes in working capital:              
Accounts receivables         50 (19)  
Inventories         (10) 64  
Income tax receivable         1 (3)  
Prepaid expenses and other current assets         (8) 30  
Accounts payable         (91) (7)  
Accrued income taxes         0 (18)  
Deferred revenue         (45) (5)  
Other current liabilities         199 (33)  
Net cash (used in) provided by operating activities         (19) 258  
Cash flows from investing activities:              
Capital expenditures         (92) (90)  
Turnaround expenditures         (191) (44)  
Proceeds from sale of assets         9 1  
Insurance proceeds related to asset damages         2 0  
Return of equity method investment         5 4  
Net cash used in investing activities         (267) (129)  
Cash flows from financing activities:              
Principal payments of long-term debt         (72) 0  
Principal payments on senior secured notes         0 (600)  
Dividends to CVR Energy stockholders         0 (101)  
Distributions to CVR Partners noncontrolling interest holders         (27) (24)  
Other financing activities         (6) (4)  
Net cash used in financing activities         (105) (729)  
Net decrease in cash, cash equivalents         (391) (600)  
Cash, cash equivalents, reserved funds, and restricted cash, beginning of period [1]   $ 987   $ 1,186 987 1,186 $ 1,186
Cash and cash equivalents, end of period $ 596   $ 586   $ 596 $ 586 $ 987 [1]
[1] As of December 31, 2023, consisted of $581 million of cash and cash equivalents, $598 million of reserved funds, and $7 million of restricted cash. The reserved funds and restricted cash were released in the first quarter of 2024.