v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (114) $ (195)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 159 146
Deferred income taxes and unrecognized tax benefits (19) (91)
Loss on extinguishment of debt 32 0
Share-based compensation 11 18
Unrealized loss (gain) on derivatives, net 151 (1)
Other items 7 8
Changes in working capital:    
Accounts receivables (92) 50
Inventories (132) (10)
Prepaid expenses and other current assets (4) (7)
Accounts payable 78 (91)
Deferred revenue 6 (45)
Other current liabilities 288 199
Net cash provided by (used in) operating activities 371 (19)
Cash flows from investing activities:    
Capital expenditures (90) (92)
Turnaround expenditures (1) (191)
Return of equity method investment 5 5
Other investing activities 0 11
Net cash used in investing activities (86) (267)
Cash flows from financing activities:    
Proceeds from issuance of Senior Notes 1,000 0
Principal payments of Term Loan (157) (72)
Principal payments of senior secured notes (817) 0
Call premium on extinguishment of debt (25) 0
Payment of deferred financing costs (15) 0
Dividends to CVR Energy stockholders (10) 0
Distributions to CVR Partners noncontrolling interest holders (30) (27)
Other financing activities (5) (6)
Net cash used in financing activities (59) (105)
Net increase (decrease) in cash and cash equivalents 226 (391)
Cash and cash equivalents, beginning of period 511 987
Cash and cash equivalents, end of period $ 737 $ 596