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Long-Term Debt and Finance Lease Obligations
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Long-Term Debt and Finance Lease Obligations
(7) Long-Term Debt and Finance Lease Obligations
Long-term debt and finance lease obligations consisted of the following:
(in millions)September 30, 2025December 31, 2024
CVR Energy:
8.50% Senior Notes, due January 2029
$600 $600 
5.75% Senior Notes, due February 2028
400 400 
Finance lease obligations, net of current portion2 — 
Unamortized debt issuance costs(3)(4)
Total CVR Energy debt999 996 
Petroleum Segment:
Term loan229 322 
Finance lease obligations, net of current portion35 29 
Unamortized debt discount and debt issuance costs(5)(8)
Total Petroleum Segment finance lease obligations, net of current portion
259 343 
Nitrogen Fertilizer Segment:
6.125% Senior Secured Notes, due June 2028
550 550 
Finance lease obligations, net of current portion21 20 
Unamortized debt issuance costs(2)(2)
Total Nitrogen Fertilizer Segment debt and finance lease obligations, net of current portion
569 568 
Total long-term debt and finance lease obligations, net of current portion1,827 1,907 
Current portion of long-term debt and finance lease obligations14 12 
Total long-term debt and finance lease obligations, including current portion$1,841 $1,919 
Credit Agreements
(in millions)Total Available Borrowing CapacityAmount Borrowed as of September 30, 2025Outstanding Letters of CreditAvailable Capacity as of September 30, 2025Maturity Date
Petroleum Segment
CVR Energy’s Amended and Restated ABL Credit Agreement (“CVR Energy ABL”)$341 $— $25 $316 June 30, 2027
Nitrogen Fertilizer Segment:
CVR Partners’ Credit Agreement (“CVR Partners ABL”)
$50 $— $— $50 September 26, 2028
Petroleum Segment
Term Loan - On June 30, 2025, certain of the Company’s subsidiaries (the “Term Loan Borrowers”) prepaid $70 million in principal of the senior secured term loan facility (the “Term Loan”), in addition to required principal and interest payments as set forth in the Term Loan. Further, on July 25, 2025, the Term Loan Borrowers prepaid an additional $20 million in principal of the Term Loan, plus any accrued and unpaid interest to the redemption date. As a result of these transactions, the Company recognized in Interest expense, net a loss on extinguishment of debt of approximately $1 million and less than $1 million in the second and third quarter of 2025, respectively, related to the write-off of unamortized discount and deferred financing costs.
Covenant Compliance
The Company and its subsidiaries were in compliance with all covenants under their respective debt instruments as of September 30, 2025.