Debt

3 Months Ended

Mar. 31, 2024

Debt

Debt

12.  Debt

Debt consists of the following:

	March 31,		December 31,
	2024		2023
	(in millions)
Holding Company:
6.375% senior unsecured notes due 2025	$	749	$	749
6.250% senior unsecured notes due 2026		1,238		1,238
5.250% senior unsecured notes due 2027		1,454		1,454
4.375% senior unsecured notes due 2029		708		708
9.750% senior unsecured notes due 2029		698		698
		4,847		4,847
Reporting Segments:
Energy		1,585		2,185
Automotive		29		33
Food Packaging		138		133
Real Estate		1		1
Home Fashion		8		8
		1,761		2,360
Total Debt	$	6,608	$	7,207

Energy

In February 2024, CVR Energy redeemed all its $600 million in aggregate principal amount of 5.25% senior unsecured notes due 2025. As a result of this transaction, CVR Energy recognized a $1 million loss on extinguishment of debt for the three months ended March 31, 2024.

As of March 31, 2024, total availability under CVR Energy’s Amended and Restated ABL Credit Agreement (“CVR Energy ABL”) and CVR Partners ABL Credit Agreement (“CVR Partners ABL”) facilities aggregated to $294 million. CVR Energy ABL had $24 million of letters of credit outstanding as of March 31, 2024. The CVR Energy ABL matures on June 30, 2027, and the CVR Partners ABL on September 26, 2028.

Covenants

We and all of our subsidiaries are currently in compliance with all covenants and restrictions as described in the various executed agreements and contracts with respect to each debt instrument. These covenants include limitations on indebtedness, liens, investments, acquisitions, asset sales, dividends and other restricted payments and affiliate and extraordinary transactions.

Non-Cash Charges to Interest Expense

The amortization of deferred financing costs and debt discounts and premiums included in interest expense in the condensed consolidated statements of operations was less than $1 million for the three months ended March 31, 2024 and 2023.