CVR ENERGY INC
For the period ended Mar 31, 2025. Filed Apr 29, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed Apr 29, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows - and (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended March 31, | ||
|---|---|---|
| (in millions) | 2025 | 2024 |
| Cash flows from operating activities: | ||
| Net (loss) income | $(105) | $90 |
| Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 68 | 76 |
| Deferred income taxes and unrecognized tax benefits | (49) | (5) |
| Share-based compensation | 6 | 10 |
| Unrealized loss (gain) on derivatives, net | (3) | 24 |
| Income from equity method investments | (1) | (4) |
| Return from equity method investment earnings | 1 | 3 |
| Other items | 1 | 3 |
| Changes in assets and liabilities: | ||
| Accounts receivables | (25) | 25 |
| Inventories | (88) | 5 |
| Prepaid expenses and other current assets | (6) | 31 |
| Accounts payable | (64) | (10) |
| Deferred revenue | (15) | 9 |
| Other current liabilities | 85 | (80) |
| Net cash (used in) provided by operating activities | (195) | 177 |
| Cash flows from investing activities: | ||
| Capital expenditures | (51) | (47) |
| Turnaround expenditures | (43) | (12) |
| Insurance proceeds related to asset damages | 2 | — |
| Return of equity method investment | 4 | 3 |
| Proceeds from sale of assets | 6 | 1 |
| Net cash used in investing activities | (82) | (55) |
| Cash flows from financing activities: | ||
| Principal payments on senior secured notes | — | (600) |
| Dividends to CVR Energy’s stockholders | — | (50) |
| Distributions to CVR Partners’ noncontrolling interest holders | (12) | (11) |
| Other financing activities | (3) | (3) |
| Net cash used in financing activities | (15) | (664) |
| Net decrease in cash, cash equivalents | (292) | (542) |
| Cash, cash equivalents, reserved funds, and restricted cash, beginning of period (1) | 987 | 1,186 |
| Cash and cash equivalents, end of period | $695 | $644 |
(1)As of December 31, 2023, consisted of $581 million of cash and cash equivalents, $598 million of reserved funds, and $7 million of restricted cash. The reserved funds and restricted cash were released in the first quarter of 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.