CVR ENERGY INC
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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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.
Sep 30, 2025 · Filed Oct 30, 2025
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Condensed Consolidated Statements of Cash Flows - and (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| (in millions) | 2025 | 2024 |
| Cash flows from operating activities: | ||
| Net income (loss) | $206 | $5 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 258 | 224 |
| Loss on lower of cost or net realizable value adjustment | 12 | — |
| Deferred income taxes and unrecognized tax benefits | (3) | (17) |
| Share-based compensation | 37 | 13 |
| Unrealized loss on derivatives, net | 6 | 16 |
| Income from equity method investments | (3) | (10) |
| Return from equity method investment earnings | 4 | 11 |
| Other items | 12 | 7 |
| Changes in working capital: | ||
| Accounts receivables | 42 | 5 |
| Inventories | (27) | 107 |
| Income tax receivable | 3 | (32) |
| Prepaid expenses and other current assets | (14) | 26 |
| Accounts payable | (137) | (71) |
| Accrued income taxes | — | (25) |
| Deferred revenue | (20) | 19 |
| Other current liabilities | (232) | 28 |
| Net cash provided by operating activities | 144 | 306 |
| Cash flows from investing activities: | ||
| Capital expenditures | (130) | (124) |
| Turnaround expenditures | (196) | (46) |
| Proceeds from sale of assets | 8 | 1 |
| Insurance proceeds related to asset damages | 3 | — |
| Return of equity method investment | 6 | 5 |
| Net cash used in investing activities | (309) | (164) |
| Cash flows from financing activities: | ||
| Principal payments of long-term debt | (92) | — |
| Principal payments on senior secured notes | — | (600) |
| Dividends to CVR Energy stockholders | — | (151) |
| Distributions to CVR Partners noncontrolling interest holders | (53) | (37) |
| Other financing activities | (7) | (6) |
| Net cash used in financing activities | (152) | (794) |
| Net decrease in cash, cash equivalents | (317) | (652) |
| Cash, cash equivalents, reserved funds, and restricted cash, beginning of period (1) | 987 | 1,186 |
| Cash and cash equivalents, end of period | $670 | $534 |
(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.
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