Related Party Transactions (Tables)

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Schedule of related party transactions

Activity associated with the Company’s related party arrangements for the three and six months ended June 30, 2023 and 2022 is summarized below:

Related Party Activity

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2023		2022		2023		2022
Sales to related parties:
CVRP JV CO Contract (1)	$	1	$	—	$	2	$	—
Purchases from related parties:
Enable Joint Venture Transportation Agreement	3		2		6		5
Midway Joint Venture Agreement (2)	5		5		10		11
Payments:
Dividends (3)	36		28		71		28

(1)Sales to related parties, included in Net sales in our condensed consolidated financial statements, 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 financial statements, represents reimbursements for crude oil transportation services incurred on the Midway JV through Vitol as the intermediary purchasing agent.

(3)See below for a summary of the dividends paid to IEP during the six months ended June 30, 2023 and year ended December 31, 2022.

Summary of dividends paid

The following tables present quarterly and special dividends paid to the Company’s stockholders, including IEP, during 2023 and 2022 (amounts presented in 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
2022 - 4th Quarter	March 13, 2023	$	0.50	$	15	$	36	$	50
2023 - 1st Quarter	May 22, 2023	0.50		15		36		50
Total 2023 quarterly dividends		$	1.00	$	29	$	71	$	101

				Quarterly Dividends Paid (in millions)
Related Period	Date Paid	Quarterly Dividends Per Share		Public Stockholders		IEP		Total
2022 - 1st Quarter	May 23, 2022	$	0.40	$	12	$	28	$	40
2022 - 2nd Quarter	August 22, 2022	0.40		12		28		40
2022 - 3rd Quarter	November 21, 2022	0.40		12		28		40
Total 2022 quarterly dividends		$	1.20	$	35	$	85	$	121

Summary of distributions paid

The following tables present quarterly distributions paid by CVR Partners to its unitholders, including amounts received by the Company, during 2023 and 2022 (amounts presented in tables below may not add to totals presented due to rounding):

				Quarterly Distributions Paid (in millions)
Related Period	Date Paid	Quarterly Distributions Per Common Unit		Public Unitholders		CVR Energy		Total
2022 - 4th Quarter	March 13, 2023	$	10.50	$	70	$	41	$	111
2023 - 1st Quarter	May 22, 2023	10.43		70		41		110
Total 2023 quarterly distributions		$	20.93	$	140	$	81	$	221

				Quarterly Distributions Paid (in millions)
Related Period	Date Paid	Quarterly Distributions  Per Common Unit		Public Unitholders		CVR Energy		Total
2021 - 4th Quarter	March 14, 2022	$	5.24	$	36	$	20	$	56
2022 - 1st Quarter	May 23, 2022	2.26		15		9		24
2022 - 2nd Quarter	August 22, 2022	10.05		67		39		106
2022 - 3rd Quarter	November 21, 2022	1.77		12		7		19
Total 2022 quarterly distributions		$	19.32	$	130	$	75	$	205