XML 66 R45.htm IDEA: XBRL DOCUMENT v3.22.2

Segment Information (Tables)

6 Months Ended

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.

X

- Definition

Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration