.3

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION

On November 2, 2026, CVR Energy, Inc. (“CVR Energy” or the “Company”) entered into an Equity and Asset Purchase Agreement (the “Purchase Agreement”) with certain indirect subsidiaries and affiliates of Marathon Petroleum Corporation (the “Sellers”) to acquire the refineries located in St. Paul Park, Minnesota and Mandan, North Dakota, a 17% interest in each of Minnesota Pipe Line Company, LLC and MPL Investments, Inc., and associated wholesale marketing and logistics assets (collectively, “Mandan/SPP”), and to assume certain liabilities related to Mandan/SPP, for total estimated aggregate cash consideration of $4.2 billion of base purchase price plus $0.8 billion of incremental consideration attributable to net working capital, subject to the purchase price adjustments and final settlement procedures described in the Purchase Agreement (the “Acquisition”).

At closing, the Sellers will sell, convey, assign and transfer to the Company the purchased assets and purchased interests specified in the Purchase Agreement, and CVR Energy will assume the related assumed liabilities, in each case subject to the terms and conditions in the Purchase Agreement. The purchased assets include the Mandan refinery; terminals, pipeline systems, logistics racks, tankage and other refining logistics assets; hydrocarbon and non-hydrocarbon catalyst assets; specified contracts, permits, books and records, real property interests and purchased intellectual property; and other tangible assets primarily related to Mandan/SPP. The purchased interests include Western Refining Southwest LLC’s 100% membership interest in St. Paul Park Refining Co. LLC, Tesoro Refining & Marketing Company LLC’s Mandan refining assets, and Tesoro Logistics Operations LLC’s 17% interests in each of Minnesota Pipe Line Company, LLC and MPL Investments, Inc. Certain balances associated with cash, receivables, trademarks, specified contracts, pre-closing renewable identification numbers and other assets identified in the Purchase Agreement will remain excluded assets. CVR Energy will assume liabilities related to the purchased assets and interests other than liabilities expressly retained by the Sellers, including specified excluded employment, environmental, tax and indebtedness-related liabilities.

In connection with the closing of the Acquisition, CVR Energy expects to enter into the following financing transactions: (i) an amendment to CVR Energy’s existing asset-based revolving credit facility (the “Existing ABL Facility”), together with $550 million of incremental commitments thereunder, bringing total commitments under the Existing ABL Facility to $1.1 billion, and borrowings of approximately $225 million thereunder on the closing date of the Acquisition; (ii) the incurrence of approximately $2.5 billion of senior secured indebtedness (the “Permanent Financing”) or, to the extent necessary, borrowings under a senior secured 364-day bridge loan facility in an aggregate principal amount of up to $2.5 billion (the “Bridge Facility”), for which Barclays Bank PLC and certain other financial institutions have provided a debt commitment letter; (iii) the issuance and sale of equity securities to certain commercial counterparties in a private placement for an aggregate purchase price of approximately $800 million (the “Commercial Partner Equity Investment”); (iv) a subscription agreement with an affiliate of Icahn Enterprises L.P, its controlling stockholder, providing for up to $500 million of equity financing (the “IEP Equity Investment”), which is intended to terminate upon the consummation of an equity offering generating gross proceeds of at least $500 million; (v) a supplemental indenture pursuant to which CVR Energy’s 7.500% Senior Notes due 2031 and 7.875% Senior Notes due 2034 will become secured on an equal and ratable basis with the Bridge Facility and/or any Permanent Financing; and (vi) the redemption of all $183 million aggregate principal amount of CVR Energy’s outstanding 5.750% Senior Notes due 2028.

The following unaudited pro forma condensed combined financial information illustrates the effects of the Acquisition and the related financing transactions described in Note 5 (together, the “Transactions”) and includes the unaudited pro forma condensed combined balance sheet as of September 30, 2026, and the unaudited pro forma condensed combined statements of operations for the nine months ended September 30, 2026 and 2025 and the year ended December 31, 2025, and the accompanying notes. The unaudited pro forma condensed combined statements of operations give effect to the Transactions as if they had occurred on January 1, 2025, and the unaudited pro forma condensed combined balance sheet gives effect to the Transactions as if they had occurred on September 30, 2026.

The unaudited pro forma condensed combined financial information is based on and should be read in conjunction with the following historical financial statements of CVR Energy and Mandan/SPP:

 

•

CVR Energy’s historical audited consolidated financial statements and accompanying notes included in its Annual Report on Form 10-K for the year ended December 31, 2025, and CVR Energy’s historical unaudited condensed consolidated financial statements and related notes as of September 30, 2026, and for the nine months ended September 30, 2026 and 2025, included in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2026; and

 

•

Mandan/SPP’s historical audited carve-out combined financial statements and related notes for the year ended December 31, 2025, and the historical unaudited carve-out condensed combined financial statements for the nine months ended September 30, 2026 and 2025, attached as and 99.2, respectively, to the Form 8-K to which this unaudited pro forma condensed combined financial information is attached.

 

1

The unaudited pro forma condensed combined financial information has been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) using the acquisition method of accounting for business combinations under Accounting Standards Codification (“ASC”) 805, Business Combinations. Under the acquisition method, the aggregate consideration transferred is allocated to Mandan/SPP including the underlying tangible and identifiable intangible assets acquired and liabilities assumed, based on their estimated acquisition-date fair values, with any excess recorded as goodwill. For purposes of this preliminary presentation, CVR Energy has assumed that the consummation of the Acquisition occurred on September 30, 2026. The Purchase Agreement provides for an aggregate purchase price for the Mandan/SPP business, subject to post-closing adjustments based on, among other items, hydrocarbon inventory, non-hydrocarbon catalyst assets, working capital, certain asset taxes, repair costs and 2026 pro-rated bonus amounts, as applicable. The final consideration and allocation will be determined from the closing and final settlement statements and may differ materially from the preliminary amounts reflected herein.

In accordance with Article 11 of Regulation S-X, the unaudited pro forma condensed combined financial information has been prepared for illustrative and informational purposes only and is not intended to represent what CVR Energy’s results of operations or financial position would have been had the Acquisition occurred on the dates indicated, or what they will be for any future periods or as of any future date. The unaudited pro forma condensed combined financial information does not reflect the realization of any expected cost savings or other synergies or dis-synergies that may be realized as a result of the Acquisition.

 

2

CVR ENERGY, INC.

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET

As of September 30, 2026

 

		Historical CVR Energy, Inc				Historical Mandan/SPP as reclassified				Acquisition Accounting Adjustments				Notes				Other Accounting Adjustments				Notes				Pro Forma Combined
(in millions)						(Note 3)
ASSETS
Current Assets:
Cash and cash equivalents		$	1,278			$	—			$	(4,969	)			(4A	)			3,970				(5A	)		$	96
																			(183	)			(5D	)
Accounts receivable, net			464				44				(44	)			(4B	)											464
Inventories			655				840				(5	)			(4B	)											1,490
Prepaid expenses			20				—																				20
Other current assets			17				—																				17
Total current assets			2,434				884				(5,018	)							3,787								2,087
Property, plant and equipment, net			2,011				817				1,356				(4C	)											4,184
Goodwill			—				—				1,499				(4F	)											1,499
Intangible assets			—				42				360				(4C	)											402
Other long-term assets			335				194				(27	)			(4C	)											502
Total assets		$	4,780			$	1,937			$	(1,830	)						$	3,787							$	8,674
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable		$	620			$	277			$	(188	)			(4B	)										$	729
											20				(4G	)
Other current liabilities			785				289				(288	)			(4B	)											786
Total current liabilities			1,405				566				(456	)							—								1,515
Long-term liabilities:
Long-term debt and finance lease obligations, net of current portion			1,769				—												2,675				(5A	)			4,261
																			(183	)			(5D	)
Deferred income taxes			245				103				(103	)			(4B	)											245
Other long-term liabilities			104				24				(7	)			(4B	)											121
Total long-term liabilities			2,118				127				(110	)							2,492								4,627
CVR Energy stockholders’ equity:
Preferred stock			—																								—
Common stock			1																1				(5A	)			2
Additional paid-in capital			1,508																1,294				(5A	)			2,802
Accumulated deficit			(422	)							(20	)			(4G	)											(442	)
Treasury stock			(2	)																							(2	)
Net parent investment			—				1,244				(1,244	)			(4H	)											—
Total CVR Energy stockholders’ equity			1,085				1,244				(1,264	)							1,295								2,360
Noncontrolling interest			172																								172
Total equity			1,257				1,244				(1,264	)							1,295								2,532
Total liabilities and equity		$	4,780			$	1,937			$	(1,830	)						$	3,787							$	8,674

See notes to unaudited pro forma condensed combined financial statements.

 

3

CVR ENERGY, INC.

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

For the Nine Months Ended September 30, 2026

 

		Historical CVR Energy, Inc.				Historical Mandan/SPP as reclassified				Acquisition Accounting Adjustments				Notes				Other Accounting Adjustments				Notes				Pro Forma Combined
(in millions, except per share data)						(Note 3)
Net sales		$	8,000			$	7,594			$	(53	)			(4K	)										$	15,541
Operating costs and expenses:
Cost of materials and other			6,398				6,339				(54	)			(4K	)											12,683
Direct operating expenses (exclusive of depreciation and amortization)			573				—																				573
Depreciation and amortization			232				69				121				(4D	)											391
											38				(4E	)
											(69	)			(4J	)
Cost of sales			7,203				6,408				36								—								13,647
Selling, general and administrative expenses (exclusive of depreciation and amortization)			131				149																				280
Depreciation and amortization			5				—																				5
Other operating expenses, net			4				11																				15
Operating income			657				1,026				(89	)							—								1,594
Other (expense) income:
Interest expense, net			(105	)			—												(166	)			(5B	)			(261	)
																			10				(5D	)
Other income, net			19				11																				30
Income before income taxes			571				1,037				(89	)							(156	)							1,363
Income tax (benefit) expense			122				269				(22	)			(4M	)			(38	)			(5C	)			331
Net income			449				768				(67	)							(118	)							1,032
Less: Net income attributable to noncontrolling interest			74																								74
Net income attributable to CVR Energy stockholders		$	375			$	768			$	(67	)						$	(118	)						$	958
Basic and diluted earnings per share (4L)		$	3.73																							$	7.67
Weighted average common shares outstanding:
Basic and diluted (4L)			100.5																								124.9

See notes to unaudited pro forma condensed combined financial statements.

 

4

CVR ENERGY, INC.

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

For the Year Ended December 31, 2025

 

		Historical CVR Energy, Inc.				Historical Mandan/SPP as reclassified				Acquisition Accounting Adjustments				Notes				Other Accounting Adjustments				Notes				Pro Forma Combined
(in millions, except per share data)						(Note 3)
Net sales		$	7,162			$	7,722			$	(69	)			(4K	)										$	14,815
Operating costs and expenses:
Cost of materials and other			5,722				7,045				(73	)			(4K	)											12,694
Direct operating expenses (exclusive of depreciation and amortization)			700				—																				700
Depreciation and amortization			394				111				162				(4D	)											606
											50				(4E	)
											(111	)			(4J	)
Cost of sales			6,816				7,156				28								—								14,000
Selling, general and administrative expenses (exclusive of depreciation and amortization)			148				167				20				(4G	)											335
Depreciation and amortization			9				—																				9
Other operating expenses, net			7				20																				27
Operating income			182				379				(117	)							—								444
Other (expense) income:
Interest expense, net			(108	)			—												(221	)			(5B	)			(306	)
																			23				(5D	)
Other income, net			6				16																				22
Income before income taxes			80				395				(117	)							(198	)							160
Income tax (benefit) expense			(10	)			102				(29	)			(4M	)			(49	)			(5C	)			14
Net income			90				293				(88	)							(149	)							146
Less: Net income attributable to noncontrolling interest			63																								63
Net income attributable to CVR Energy stockholders		$	27			$	293			$	(88	)						$	(149	)						$	83
Basic and Diluted earnings per share: (4L)		$	0.27																							$	0.66
Weighted average common shares outstanding:
Basic and diluted (4L)			100.5																								124.9

See notes to unaudited pro forma condensed combined financial statements.

 

5

CVR ENERGY, INC.

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

For the Nine Months Ended September 30, 2025

 

		Historical CVR Energy, Inc.				Historical Mandan/SPP as reclassified				Acquisition Accounting Adjustments				Notes				Other Accounting Adjustments				Notes				Pro Forma Combined
(in millions, except per share data)						(Note 3)
Net sales		$	5,352			$	5,838			$	(52	)			(4K	)										$	11,138
Operating costs and expenses:
Cost of materials and other			4,195				5,257				(55	)			(4K	)											9,397
Direct operating expenses (exclusive of depreciation and amortization)			503				—																				503
Depreciation and amortization			251				89				121				(4D	)											410
											38				(4E	)
											(89	)			(4J	)
Cost of sales			4,949				5,346				15								—								10,310
Selling, general and administrative expenses (exclusive of depreciation and amortization)			115				124				20				(4G	)											259
Depreciation and amortization			7				—																				7
Other operating expenses, net			4				15																				19
Operating income (loss)			277				353				(87	)							—								543
Other (expense) income:
Interest expense, net			(79	)			—												(166	)			(5B	)			(227	)
																			18				(5D	)
Other income, net			5				12																				17
Income before income taxes			203				365				(87	)							(148	)							333
Income tax (benefit) expense			(3	)			95				(21	)			(4M	)			(36	)			(5C	)			35
Net income			206				270				(66	)							(112	)							298
Less: Net income attributable to noncontrolling interest			69																								69
Net income attributable to CVR Energy stockholders		$	137			$	270			$	(66	)						$	(112	)						$	229
Basic and diluted earnings per share (4L)		$	1.37																							$	1.83
Weighted average common shares outstanding:
Basic and diluted (4L)			100.5																								124.9

See notes to unaudited pro forma condensed combined financial statements.

 

6

Notes to Unaudited Pro Forma Condensed Combined Financial Statements

(1) Basis of Presentation

The unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of SEC Regulation S-X. The unaudited pro forma condensed combined balance sheet is derived from the historical balance sheets of CVR Energy and Mandan/SPP as of September 30, 2026, and the unaudited pro forma condensed combined statements of operations are derived from the historical results of CVR Energy and Mandan/SPP for the nine months ended September 30, 2026 and 2025, and the year ended December 31, 2025, as applicable.

The Acquisition is expected to be accounted for as a business combination using the acquisition method of accounting under GAAP, in accordance with the provisions of ASC 805, which requires assets acquired and liabilities assumed to be recorded at their acquisition date fair value. The transaction has not yet closed. ASC 820, Fair Value Measurements, defines the term “fair value” as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” Fair value measurements can be highly subjective, and it is possible the application of reasonable judgment could develop different assumptions resulting in a range of alternative estimates based on the same facts and circumstances.

As of the date hereof, CVR Energy has not completed the detailed valuation studies necessary to determine the fair value of the purchased assets, the purchased interests and the assumed liabilities. Accordingly, the allocation reflected in the unaudited pro forma condensed combined financial information is based on management’s preliminary estimates. The final allocation will be completed after the consummation of the Acquisition and resolution of the applicable closing and final settlement statements in accordance with the Purchase Agreement, including the allocation of aggregate consideration among the purchased assets, the purchased interests and the assumed liabilities. Adjustments to the preliminary fair values, purchase price and related tax effects could materially affect the unaudited pro forma condensed combined financial information and CVR Energy’s future results of operations and financial position.

CVR Energy’s historical financial statements and the historical carve-out combined financial statements of the purchased assets and interests were prepared in accordance with GAAP. As discussed in Note 3, certain reclassifications have been made to align the Mandan/SPP historical presentation with CVR Energy’s presentation for purposes of preparing the unaudited pro forma condensed combined financial information. Mandan/SPP has not historically operated as a standalone business, and their historical financial statements are not necessarily indicative of the financial position or results that would have occurred on a standalone basis. CVR Energy will continue to evaluate accounting policy differences and may identify additional conforming adjustments after the consummation of the Acquisition or as additional information becomes available.

There were no material intercompany transactions or balances between CVR Energy and Mandan/SPP as of September 30, 2026, and for the nine months ended September 30, 2026 and 2025, and the year ended December 31, 2025.

(2) Preliminary Purchase Price Allocation

The following table presents the preliminary estimated consideration for Mandan/SPP:

 

(in millions)
Base cash purchase price		$	4,200
Adjustments:
Hydrocarbon inventory (1)			740
Non-hydrocarbon catalyst assets			20
Working capital amount			10
Mandan/SPP accrued property tax liabilities			(1	)
Total cash consideration transferred		$	4,969

 

(1)

As disclosed in Note 5, CVR Energy is contemporaneously entering into commercial agreements with a commercial partner. Under these agreements, the commercial partner will acquire certain crude inventory at the closing of the Acquisition, which will reduce the amount of cash required from CVR Energy to fund the transactions.

The aggregate purchase price is expected to be $4.2 billion of base purchase price plus $0.8 billion of incremental consideration attributable to net working capital, with final consideration subject to the applicable adjustments and the closing and final settlement procedures in the Purchase Agreement. The final consideration transferred for Mandan/SPP will be determined under the Purchase Agreement based on the final purchased assets and interests, assumed liabilities, and applicable closing and post-closing adjustments. Accordingly, the final consideration may differ from the preliminary amount used in the purchase price allocation.

 

7

Under the acquisition method of accounting, the identifiable assets acquired and liabilities assumed of Mandan/SPP are recognized and measured at fair value. The allocation remains preliminary and is subject to change as additional information becomes available and the final valuation and purchase-price adjustments are completed, and any such changes could be material. The following table presents a preliminary allocation of the total estimated cash consideration to the identified tangible and intangible assets of Mandan/SPP to be acquired and liabilities to be assumed based on preliminary estimated fair values as of September 30, 2026:

 

(in millions)
Total consideration for the Acquisition		$	4,969
Inventories			835
Property, plant and equipment			2,173
Other long-term assets			167
Intangible assets			402
Total assets acquired			3,577
Accounts payable and accrued liabilities			89
Other current liabilities			1
Other long-term liabilities			17
Total liabilities assumed			107
Net assets acquired			3,470
Preliminary allocation to goodwill			1,499

(3) Reclassification and Accounting Policy Adjustments

The historical carve-out combined financial statements of Mandan/SPP were prepared in accordance with GAAP. In preparing the unaudited pro forma condensed combined financial information, CVR Energy performed a preliminary analysis to identify differences between the historical financial statement presentation and accounting policies of Mandan/SPP and those of CVR Energy. The reclassifications described below conform the presentation of the Mandan/SPP historical financial information to CVR Energy’s presentation and do not affect Mandan/SPP’s historical total assets, total liabilities, net parent investment or net income. In addition, an accounting policy adjustment has been made to conform Mandan/SPP’s accounting for turnaround costs to CVR Energy’s policy of capitalizing such costs, which affects Mandan/SPP’s net income as shown below. CVR Energy will continue to evaluate accounting policy and presentation differences and may identify additional conforming adjustments as further information becomes available.

 

8

The following table presents a summary of reclassification adjustments made to present Mandan/SPP’s unaudited condensed combined balance sheet as of September 30, 2026, in conformity with that of CVR Energy:

Mandan/SPP

Unaudited Condensed Combined Balance Sheet

As of September 30, 2026

(in millions)

 

Presentation in Historical Financial Statements		Presentation in Unaudited Pro Forma Condensed Combined Financial Statements		Mandan/SPP Before Reclassification				Reclassifications								Mandan/SPP as Reclassified
Assets
Receivables		Accounts receivable, net		$	41			$	3				(i	)		$	44
Related party receivables					3				(3	)			(i	)			—
Inventories		Inventories			840												840
Total current assets					884				—								884
Equity method investment		Other long-term assets			159			$	(159	)			(iv	)			—
Property, plant and equipment, net		Property, plant, and equipment, net			825				(8	)			(v	)			817
Intangibles, net		Intangible assets			42												42
Other noncurrent assets		Other long-term assets			27				159				(iv	)			194
									8				(v	)
Total assets				$	1,937			$	—							$	1,937
Liabilities and Equity
Accounts payable		Accounts payable		$	273			$	4				(ii	)		$	277
Related party payables					4				(4	)			(ii	)			—
Payroll and benefits payable					27				(27	)			(iii	)			—
Accrued taxes					150				(150	)			(iii	)			—
Environmental obligations					108				(108	)			(iii	)			—
Other current liabilities		Other current liabilities			4				285				(iii	)			289
Total current liabilities					566				—								566
Deferred income tax liabilities		Deferred income taxes			103												103
Other long-term liabilities		Other long-term liabilities			24												24
Total liabilities					693				—								693
Net Parent Investment		Net Parent Investment			1,244												1,244
Total liabilities and equity		Total liabilities and equity		$	1,937			$	—							$	1,937

(i)	Reclassification of “Related-party receivables” to “Accounts receivable, net.”

(ii)	Reclassification of “Related-party payables” to “Accounts payable.”

(iii)

Reclassification from “Payroll and benefits payable”, “Accrued taxes” and “Environmental obligations” to “Other current liabilities.”

(iv)	Reclassification from “Equity method investment” to “Other long-term assets.”

(v)	Reclassification from “Property, plant, and equipment, net” to “Other long-term assets.”

 

9

The following table presents a summary of reclassification adjustments made to present Mandan/SPP unaudited condensed combined statement of operations for the nine months ended September 30, 2026, in conformity with that of CVR Energy:

Mandan/SPP

Unaudited Condensed Combined Statement of Operations

For the Nine Months Ended September 30, 2026

(in millions)

 

Presentation in Historical Financial Statements		Presentation in Unaudited Pro Forma Condensed Combined Financial Statements		Mandan/SPP Before Reclassification				Reclassifications								Accounting Policy Adjustment								Mandan/SPP as Reclassified
Revenues and other income:
Sales and other operating revenues		Net sales		$	7,308			$	286				(i	)										$	7,594
Related party revenues					286				(286	)			(i	)											—
Income from equity method investment					5				(5	)			(ii	)											—
Other income		Other income, net			1				10				(ii	)											11
Related party other income					5				(5	)			(ii	)											—
Total revenues and other income					7,605				—								—
Costs and Expenses:
Cost of revenues (excludes items below)		Cost of materials and other			2,874				3,559				(iii	)											6,339
																	(94	)			(iv	)
Related party cost of revenues					3,559				(3,559	)			(iii	)											—
Depreciation and amortization		Depreciation and amortization			69																				69
Selling, general and administrative expenses		Selling, general and administrative expenses (exclusive of depreciation and amortization)			149																				149
Other taxes		Other operating expenses , net			11																				11
Total costs and expenses					6,662				—								(94	)
Income before income taxes					943				—								94								1,037
Provision for income taxes		Income tax expense			246												23				(iv	)			269
Net income				$	697			$	—							$	71							$	768

(i)	Reclassification of “Sales and other operating revenues” and “Related party revenues” to “Net sales.”

(ii)	Reclassification from “Income from equity method investment”, “Other income” and “Related party other income” to “Other income, net.”

(iii)

Reclassification from “Cost of revenues (excludes items below)” and “Related party cost of revenues” to “Cost of materials and other.”

(iv)	Accounting policy adjustment to remove expenses and the appropriate income-tax effect, associated with turnaround cost as CVR Energy capitalizes such expenses within “Other long-term assets.”

 

10

The following table presents a summary of reclassification adjustments made to present Mandan/SPP’s combined statement of operations for the year ended December 31, 2025, in conformity with that of CVR Energy:

Mandan/SPP

Combined Statement of Operations

For the Year Ended December 31, 2025

(in millions)

 

Presentation in Historical Financial Statements		Presentation in Unaudited Pro Forma Condensed Combined Financial Statements		Mandan/SPP Before Reclassification				Reclassifications								Accounting Policy Adjustment								Mandan/SPP as Reclassified
Revenues and other income:
Sales and other operating revenues		Net sales			7,476			$	246				(i	)										$	7,722
Related party revenues					246				(246	)			(i	)											—
Income from equity method investment					7				(7	)			(ii	)											—
Other income		Other income, net			3				13				(ii	)											16
Related party other income					6				(6	)			(ii	)											—
Total revenues and other income					7,738				—								—
Costs and Expenses:
Cost of revenues (excludes items below)		Cost of materials and other			2,917				4,133				(iii	)											7,045
																	(5	)			(iv	)
Related party cost of revenues					4,133				(4,133	)			(iii	)											—
Depreciation and amortization		Depreciation and amortization			111																				111
Selling, general and administrative expenses		Selling, general and administrative expenses			167																				167
Other taxes		Other operating expenses (income), net			20																				20
Total costs and expenses					7,348				—								(5	)
Income before income taxes		Income (loss) before income taxes			390				—								5								395
Provision for income taxes		Income tax expense (benefit)			101												1				(iv	)			102
Net income		Net income (loss)		$	289			$	—							$	4							$	293

(i)	Reclassification of “Sales and other operating revenues” and “Related party revenues” to “Net sales.”

(ii)	Reclassification from “Income from equity method investment”, “Other income” and “Related party other income” to “Other income, net.”

(iii)

Reclassification from “Cost of revenues (excludes items below)” and “Related party cost of revenues” to “Cost of materials and other.”

(iv)	Accounting policy adjustment to remove expenses and the appropriate income-tax effect, associated with turnaround cost as CVR Energy capitalizes such expenses within “Other long-term assets.”

 

11