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| Revenue | (9) Revenue The following table presents the Partnership’s revenue, disaggregated by major products:
(1)Consists mainly of freight revenue and includes sales of carbon oxide (“CO”) made in connection with the 45Q Transaction, as well as the noncash consideration received, which is recognized as the performance obligation associated with the CO Contract is satisfied over its term through April 2030. Revenue from the CO Contract is recognized over time based on carbon oxide volumes measured at delivery. Remaining Performance Obligations We have spot and term contracts with customers and the transaction prices are either fixed or based on market indices (variable consideration). The Partnership does not disclose remaining performance obligations for contracts that have terms of one year or less and for contracts where the variable consideration was entirely allocated to an unsatisfied performance obligation. As of December 31, 2025, the Partnership had approximately $3.6 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Partnership expects to recognize $3.3 million of these performance obligations as revenue by the end of 2026 and an additional $0.3 million in 2027. Contract Balances During the years ended December 31, 2025 and 2024, the Partnership recognized revenue of $50.5 million and $15.7 million, respectively, that was included in the deferred revenue balances of $77.8 million and $49.1 million as of December 31, 2024 and 2023, respectively. Accounts receivable from contracts with customers was $57.9 million, $63.1 million, and $39.6 million as of December 31, 2025, 2024, and 2023, respectively. Major Customers CVR Partners had two customers that comprised 10% or more of net sales at approximately 15% and 13% for the year ended December 31, 2025 and 13% and 12% for the year ended December 31, 2023. CVR Partners had one customer that accounted for 10% or more of net sales at approximately 14% for the year ended December 31, 2024.
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