Diversified Subsidiary Companies Presentation
Segment: Energy
Segment Description
•
•
CVR Energy, Inc. (NYSE: CVI) is a diversified holding
company primarily engaged in the petroleum refining and
nitrogen fertilizer manufacturing businesses through its
interests in CVR Refining, LP and CVR Partners, LP (NYSE:
UAN)
CVR Refining is an independent petroleum refiner and
marketer of high-value transportation fuels in the mid-
continent of the United States
CVR Partners is a manufacturer of ammonia and urea
ammonium nitrate solution fertilizer products
Historical Segment Financial Summary
Energy Segment
($Millions)
Selected Income Statement Data:
Net sales
FYE December 31,
2021
2022
2023
Highlights and Recent Developments
Petroleum
•
Two strategically located Mid-Continent refineries close to Cushing, Oklahoma
with total nameplate capacity 206,500 bpd
Direct access to crude oil and condensate fields in the Anadarko and Arkoma
Basins
Complimentary logistics assets and access to multiple key pipelines provide a
variety of price advantaged crude oil supply options
Declared a fourth quarter 2023 cash dividend of $0.50 per share, bringing
regular and special cumulative dividends declared for 2023 to $4.50 per share
Fertilizer
•
Two strategically located facilities serving the Southern Plains and Corn Belt
Primarily engaged in the production of the nitrogen fertilizers ammonia and
urea ammonium nitrate (UAN)
• Diverse feedstock exposure through petroleum coke and natural gas
Declared a fourth quarter 2023 cash distribution of $1.68 per common unit,
bringing the cumulative cash distributions declared for 2023 to $17.80 per
common unit
$7,242
$10,896 $9,247
Adjusted EBITDA (1)
462
1,253 1,435
Net income (loss)
29
596
831
Adjusted EBITDA attributable to IEP (1)
231
707
869
Net income (loss) attributable to IEP
(5)
304
508
Segment Balance Sheet Data (2):
Total assets
Equity attributable to IEP
$4,587
$4,735 $5,259
$686
$648 $795
(1)
(2)
Refer to the Adjusted EBITDA reconciliations in the Appendix.
Balance Sheet data as of the end of each respective period.
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