CVR ENERGY INC
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
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FY2024 · Filed Feb 19, 2025
CVI$38.71-1.0%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows for the Years Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2024 | 2023 | 2022 |
| Cash flows from operating activities: | |||
| Net income | $45 | $878 | $644 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 298 | 298 | 288 |
| Loss on lower of cost or net realizable value adjustments | 5 | 4 | — |
| Deferred income taxes and unrecognized tax benefits | (50) | 67 | (17) |
| (Gain) loss on sale of investments and asset disposals | (24) | 2 | 11 |
| Unrealized loss (gain) on derivatives, net | 22 | (32) | 5 |
| Share-based compensation | 15 | 34 | 71 |
| Income from equity method investments | (13) | (12) | (10) |
| Return from equity method investment earnings | 13 | 12 | 10 |
| Other items | 7 | 2 | 2 |
| Changes in assets and liabilities: | |||
| Accounts receivable | (9) | 51 | (78) |
| Inventories | 96 | 15 | (140) |
| Prepaid expenses and other current assets | 33 | 19 | (29) |
| Accounts payable | 2 | 37 | 78 |
| Deferred revenue | 29 | (24) | (20) |
| Other current liabilities | (41) | (391) | 158 |
| Other long-term assets and liabilities | (24) | (12) | (7) |
| Net cash provided by operating activities | 404 | 948 | 967 |
| Cash flows from investing activities: | |||
| Capital expenditures | (179) | (205) | (191) |
| Turnaround expenditures | (53) | (57) | (83) |
| Insurance proceeds related to asset damages | 10 | — | — |
| Proceeds from sale of investments and assets | 92 | 1 | — |
| Return of equity method investment | 9 | 22 | 3 |
| Net cash used in investing activities | (121) | (239) | (271) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt | 325 | 600 | — |
| Principal payments on senior secured notes | (600) | — | (65) |
| Repurchase of common units by CVR Partners | — | — | (12) |
| Dividends to CVR Energy’s stockholders | (151) | (453) | (483) |
| Distributions to CVR Partners’ noncontrolling interest holders | (44) | (178) | (129) |
| Other financing activities | (12) | (9) | (7) |
| Net cash used in financing activities | (482) | (40) | (696) |
| Net (decrease) increase in cash, cash equivalents, reserved funds and restricted cash | (199) | 669 | — |
| Cash, cash equivalents, reserved funds and restricted cash, beginning of period | 1,186 | 517 | 517 |
| Cash, cash equivalents, reserved funds and restricted cash, end of period | $987 | $1,186 | $517 |
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