CVR Refining LP (CVR Refining LP) Total Inventories : $370 Mil (As of Sep. 2018)

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What is CVR Refining LP Total Inventories?

CVR Refining LP's total inventories for the quarter that ended in Sep. 2018 was $370 Mil. CVR Refining LP's average total inventories from the quarter that ended in Jun. 2018 to the quarter that ended in Sep. 2018 was $377 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. CVR Refining LP's Net-Net Working Capital per share for the quarter that ended in Sep. 2018 was $-2.24.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. CVR Refining LP's Days Inventory for the three months ended in Sep. 2018 was 20.70.

Inventory Turnover measures how fast the company turns over its inventory within a year. CVR Refining LP's Inventory Turnover for the quarter that ended in Sep. 2018 was 4.41.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. CVR Refining LP's Inventory-to-Revenue for the quarter that ended in Sep. 2018 was 0.20.

CVR Refining LP Total Inventories Historical Data

The historical data trend for CVR Refining LP's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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CVR Refining LP Total Inventories Chart

CVR Refining LP Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Total Inventories

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493.70

293.80

252.50

291.10

331.20

CVR Refining LP Quarterly Data
	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18
Total Inventories	Get a 7-Day Free Trial															282.20	331.20	366.60	384.00	370.00

CVR Refining LP Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

CVR Refining LP (NYSE:CVRR) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

CVR Refining LP's Net-Net Working Capital Per Share for the quarter that ended in Sep. 2018 is

	Net-Net Working Capital Per Share (Q: Sep. 2018 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(398	+	0.75 * 194	+	0.5 * 370	-	1059
-	0	-	0)	/	147.6
=	-2.24

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

CVR Refining LP's Days Inventory for the three months ended in Sep. 2018 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Sep. 2018 )	/	Cost of Goods Sold (Q: Sep. 2018 )	*	Days in Period
	=	377	/	1662	*	365 / 4
	=	20.70

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

CVR Refining LP's Inventory Turnover for the quarter that ended in Sep. 2018 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Sep. 2018 )	/	Average Total Inventories (Q: Sep. 2018 )
	=	1662	/	377
	=	4.41

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

CVR Refining LP's Inventory to Revenue for the quarter that ended in Sep. 2018 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Sep. 2018 )	/	Revenue (Q: Sep. 2018 )
	=	377	/	1857
	=	0.20

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

CVR Refining LP Total Inventories Related Terms

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CVR Refining LP (CVR Refining LP) Business Description

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Address

Website

http://www.cvrrefining.com

CVR Refining LP operates as an independent petroleum refiner and marketer of transportation fuels in the United States. It owns and operates a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas. The company also controls and operates logistics assets, including owned and leased pipelines; owned crude oil transports; a network of crude oil gathering tank farms; and owned and leased crude oil storage capacity, as well as combined refined products and feedstocks storage capacity. In addition, it owns pipeline system that transports crude oil from its Broome Station facility to its Coffeyville refinery.

Executives

Carl C Icahn	10 percent owner	C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH-1, SUNNY ISLES BEACH FL 33160
Janice T Develasco	officer: VP-Env., Health, Safety & Sec.	2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Andrew Langham	director	C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH, SUNNY ISLES FL 33160
David Lynn Landreth	officer: EVP & Chief Commercial Officer	2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Matthew W. Bley	officer: CAO and Corp. Controller	2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Melissa M Buhrig	officer: EVP, General Counsel & Sec.	C/O CVR ENERGY, INC., 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Tracy Dawn Jackson	officer: EVP and CFO	19100 RIDGEWOOD PARKWAY, SAN ANTONIO TX 78259
Mark A Pytosh	officer: EVP - Corporate Services	C/O CVR PARTNERS, LP, 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Hunter Clark Gary	director	C/O ICAHN ENTERPRISES L.P., 16690 COLLINS AVE., PH, SUNNY ISLES FL 33160
Jon R Whitney	director
Susan M. Ball	officer: EVP, CFO and Treasurer	13131 DAIRY ASHFORD, SUITE 600, SUGAR LAND TX 77478
John R. Walter	officer: EVP, General Counsel & Sec.	C/O CVR ENERGY, INC., 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Martin J Power	officer: Chief Commercial Officer	C/O CVR ENERGY, INC., 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
David L Lamp	officer: CEO and President	C/O CVR ENERGY, INC., 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479
Robert W Haugen	officer: EVP, Refining Operations	C/O CVR ENERGY, INC., 2277 PLAZA DRIVE, SUITE 500, SUGAR LAND TX 77479