ADDED
As of February 25, 2026, there were 637,209,452 depositary units outstanding .
Except as required by law, we undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, after the date of this Report.
As of December 31, 2025, through our Investment segment, we have significant positions in various investments, which include American Electric Power Company, Inc.
( CVR Energy ), along with a 3% interest in common units of CVR Partners, LP ( CVR Partners ) held outside of CVR Energy.
CVR Energy is a diversified holding company primarily engaged in the petroleum refining and marketing businesses, the renewable fuels businesses as well as in the nitrogen fertilizer manufacturing and distribution businesses through its holdings in CVR Partners.
CVR Energy held 100% of the general partner interest and approximately 37% of the outstanding common units of CVR Partners as of December 31, 2025.
As of December 31, 2025, we owned approximately 70% of the total outstanding common stock of CVR Energy and 3% of the outstanding common units of CVR Partners.
Our Energy segment s net sales for each of the years ended December 31, 2025, 2024 and 2023 represented approximately 83% consolidated net sales, primarily from the sale of its petroleum products.
In April 2022, CVR Energy converted its Wynnewood refinery s hydrocracker to a renewable diesel unit ( RDU ), which RDU is also capable of being returned to hydrocarbon service.
In December 2025, our Energy segment reverted the RDU back to hydrocarbon processing service, considering the unfavorable economics of the renewables business and to optimize feedstock and relieve certain logistical constraints within the refining business.
REMOVED
As of February 25, 2025, there were 522,736,315 depositary units outstanding .
As of December 31, 2024, through our Investment segment, we have significant positions in various investments, which include Southwest Gas Holdings, Inc.
( CVR Energy ), along with a 2% interest in common units of CVR Partners, LP held outside of CVR Energy.
CVR Energy is a diversified holding company primarily engaged in the petroleum refining and marketing businesses, the renewable fuels businesses as well as in the nitrogen fertilizer manufacturing and distribution businesses through its holdings in CVR Partners, LP, a publicly traded limited partnership ( CVR Partners ).
CVR Energy holds 100% of the general partner interest and approximately 37% of the outstanding common units of CVR Partners as of December 31, 2024.
As of December 31, 2024, we owned approximately 66% of the total outstanding common stock of CVR Energy and 2% of the outstanding common units of CVR Partners.
Our Energy segment s net sales for the years ended December 31, 2024, 2023 and 2022 represented approximately 83%, 83% and 81%, respectively, of our consolidated net sales, primarily from the sale of its petroleum products.
In April 2022, CVR Energy converted its Wynnewood refinery s hydrocracker to a renewable diesel unit ( RDU ) with a nameplate capacity of 252,000 bpd, which RDU is also capable of being returned to hydrocarbon service.
The refining business s top customer represented 13% of its net sales for the years ended December 31, 2024 and its top two customers represented 27% and 25% of its net sales for the years ended December 31, 2023 and 2022.
CVR Partners top customer represented 14% of its net sales for the year ended December 31, 2024 and its top two customers represented 25% and 30% of its net sales for the years ended December 31, 2023 and 2022, respectively.