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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Adjusted EBITDA |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) | 2022 |  | 2021 |  | 2022 |  | 2021
Segment adjusted EBITDA for reportable segments |  |  |  |  |  |  |
Refining & Marketing | $ | 7,760 |  |  | $ | 751 |  |  | $ | 9,134 |  |  | $ | 774 |
Midstream | 1,456 |  |  | 1,308 |  |  | 2,859 |  |  | 2,630 |
Total reportable segments | $ | 9,216 |  |  | $ | 2,059 |  |  | $ | 11,993 |  |  | $ | 3,404 |
Reconciliation of segment adjusted EBITDA for reportable segments to income from continuing operations before income taxes |  |  |  |  |  |  |
Total reportable segments | $ | 9,216 |  |  | $ | 2,059 |  |  | $ | 11,993 |  |  | $ | 3,404 |
Corporate | (156) |  |  | (149) |  |  | (294) |  |  | (274) |
Refining planned turnaround costs | (151) |  |  | (61) |  |  | (296) |  |  | (173) |
Storm impacts | — |  |  | — |  |  | — |  |  | (47) |
Renewable volume obligation requirements | 238 |  |  | — |  |  | 238 |  |  | — |
Litigation | — |  |  | — |  |  | 27 |  |  | — |
Impairments(a) | — |  |  | (13) |  |  | — |  |  | (13) |
Depreciation and amortization(b) | (819) |  |  | (871) |  |  | (1,624) |  |  | (1,715) |
Net interest and other financial costs | (312) |  |  | (372) |  |  | (574) |  |  | (725) |
Income from continuing operations before income taxes | $ | 8,016 |  |  | $ | 593 |  |  | $ | 9,470 |  |  | $ | 457 |
(a) Impairment of equity method investments. (b) The three and six months ended June 30, 2021 includes $43 million of impairments of long lived assets.
Reconciliation of Revenue from Segments to Consolidated |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) | 2022 |  | 2021 |  | 2022 |  | 2021
Sales and other operating revenues |  |  |  |  |  |  |
Refining & Marketing |  |  |  |  |  |  |
Revenues from external customers(a) | $ | 52,300 |  |  | $ | 28,554 |  |  | $ | 89,092 |  |  | $ | 50,215 |
Intersegment revenues | 47 |  |  | 30 |  |  | 83 |  |  | 58 |
Refining & Marketing segment revenues | 52,347 |  |  | 28,584 |  |  | 89,175 |  |  | 50,273 |
Midstream |  |  |  |  |  |  |
Revenues from external customers(a) | 1,495 |  |  | 1,061 |  |  | 2,761 |  |  | 2,111 |
Intersegment revenues | 1,308 |  |  | 1,248 |  |  | 2,555 |  |  | 2,447 |
Midstream segment revenues | 2,803 |  |  | 2,309 |  |  | 5,316 |  |  | 4,558 |
Total segment revenues | 55,150 |  |  | 30,893 |  |  | 94,491 |  |  | 54,831 |
Less: intersegment revenues | 1,355 |  |  | 1,278 |  |  | 2,638 |  |  | 2,505 |
Consolidated sales and other operating revenues(a) | $ | 53,795 |  |  | $ | 29,615 |  |  | $ | 91,853 |  |  | $ | 52,326 |
(a)Includes related party sales. See Note 7 for additional information.
Other Significant Reconciling Items from Segments to Consolidated |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) | 2022 |  | 2021 |  | 2022 |  | 2021
Income (loss) from equity method investments |  |  |  |  |  |  |
Refining & Marketing | $ | 6 |  |  | $ | 14 |  |  | $ | 18 |  |  | $ | 19 |
Midstream | 141 |  |  | 92 |  |  | 271 |  |  | 178 |
Corporate(a) | — |  |  | (13) |  |  | — |  |  | (13) |
Consolidated income from equity method investments | $ | 147 |  |  | $ | 93 |  |  | $ | 289 |  |  | $ | 184 |
Depreciation and amortization |  |  |  |  |  |  |
Refining & Marketing | $ | 475 |  |  | $ | 466 |  |  | $ | 936 |  |  | $ | 944 |
Midstream | 330 |  |  | 331 |  |  | 661 |  |  | 665 |
Corporate | 14 |  |  | 74 |  |  | 27 |  |  | 106 |
Consolidated depreciation and amortization | $ | 819 |  |  | $ | 871 |  |  | $ | 1,624 |  |  | $ | 1,715 |
Capital expenditures |  |  |  |  |  |  |
Refining & Marketing | $ | 315 |  |  | $ | 176 |  |  | $ | 559 |  |  | $ | 310 |
Midstream | 222 |  |  | 178 |  |  | 505 |  |  | 316 |
Segment capital expenditures and investments | 537 |  |  | 354 |  |  | 1,064 |  |  | 626 |
Less investments in equity method investees | 48 |  |  | 62 |  |  | 160 |  |  | 113 |
Plus: |  |  |  |  |  |  |
Corporate | 15 |  |  | 23 |  |  | 38 |  |  | 44 |
Capitalized interest | 25 |  |  | 16 |  |  | 48 |  |  | 30 |
Consolidated capital expenditures(b) | $ | 529 |  |  | $ | 331 |  |  | $ | 990 |  |  | $ | 587 |
(a)Impairment of equity method investment. (b)Includes changes in capital expenditure accruals. See Note 20 for a reconciliation of total capital expenditures to additions to property, plant and equipment for the six months ended June 30, 2022 and 2021 as reported in the consolidated statements of cash flows.

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