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Segment Information
 12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
SEGMENT INFORMATION
18.
SEGMENT INFORMATION

We have two reportable segments, refining and ethanol, as of December 31, 2014. Prior to May 1, 2013, we also had a retail segment. As discussed in Note 3, we completed the separation of our retail business, CST, on May 1, 2013. Segment activity related to our retail business prior to the separation is reflected in the retail segment results below. Motor fuel sales to CST, which were eliminated in consolidation prior to the separation, are reported as refining segment operating revenues from external customers after May 1, 2013.

Our refining segment includes refining operations, wholesale marketing, product supply and distribution, and transportation operations in the U.S., Canada, the U.K., Aruba, and Ireland. Our ethanol segment primarily includes sales of internally produced ethanol and distillers grains. The retail segment included company-operated convenience stores in the U.S. and Canada; filling stations, truckstop facilities, cardlock facilities, and home heating oil operations in Canada; and credit card operations in the U.S. Operations that are not included in any of the reportable segments are included in the corporate category.

The reportable segments are strategic business units that offer different products and services. They are managed separately as each business requires unique technology and marketing strategies. Performance is evaluated based on operating income. Intersegment sales are generally derived from transactions made at prevailing market rates.
The following table reflects activity related to continuing operations (in millions):
 
Refining
 
Ethanol
 
Retail
 
Corporate
 
Total
Year ended December 31, 2014:
 
 
 
 
 
 
 
 
 
Operating revenues from external
customers
$
126,004

 
$
4,840

 
$
—

 
$
—

 
$
130,844

Intersegment revenues
—

 
100

 
—

 
—

 
100

Depreciation and amortization expense
1,597

 
49

 
—

 
44

 
1,690

Operating income (loss)
5,884

 
786

 
—

 
(768
)
 
5,902

Total expenditures for long-lived assets
2,750

 
42

 
—

 
30

 
2,822

 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2013:
 
 
 
 
 
 
 
 
 
Operating revenues from external
customers
129,064

 
5,114

 
3,896

 
—

 
138,074

Intersegment revenues
2,876

 
128

 
—

 
—

 
3,004

Depreciation and amortization expense
1,566

 
45

 
41

 
68

 
1,720

Operating income (loss)
4,211

 
491

 
81

 
(826
)
 
3,957

Total expenditures for long-lived assets
2,597

 
33

 
62

 
65

 
2,757

 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2012:
 
 
 
 
 
 
 
 
 
Operating revenues from external
customers
122,068

 
4,317

 
12,008

 
—

 
138,393

Intersegment revenues
8,946

 
115

 
—

 
—

 
9,061

Depreciation and amortization expense
1,345

 
42

 
119

 
43

 
1,549

Operating income (loss)
5,484

 
(47
)
 
348

 
(741
)
 
5,044

Total expenditures for long-lived assets
3,147

 
36

 
164

 
66

 
3,413


Our principal products include conventional and CARB gasolines, RBOB (reformulated gasoline blendstock for oxygenate blending), ultra-low-sulfur diesel, and gasoline blendstocks. We also produce a substantial slate of middle distillates, jet fuel, and petrochemicals, in addition to lube oils and asphalt. Other product revenues include such products as gas oils, No. 6 fuel oil, and petroleum coke. Operating revenues from external customers for our principal products were as follows (in millions):
 
Year Ended December 31,
 
2014
 
2013
 
2012
Refining:
 
 
 
 
 
Gasolines and blendstocks
$
56,846

 
$
57,806

 
$
55,647

Distillates
57,521

 
56,921

 
51,095

Petrochemicals
3,759

 
4,281

 
3,908

Lubes and asphalts
1,397

 
1,643

 
2,033

Other product revenues
6,481

 
8,413

 
9,385

Total refining operating revenues
126,004

 
129,064

 
122,068

Ethanol:
 
 
 
 
 
Ethanol
4,192

 
4,245

 
3,545

Distillers grains
648

 
869

 
772

Total ethanol operating revenues
4,840

 
5,114

 
4,317

Retail:
 
 
 
 
 
Fuel sales (gasoline and diesel)
—

 
3,226

 
10,045

Merchandise sales and other
—

 
524

 
1,649

Home heating oil
—

 
146

 
314

Total retail operating revenues
—

 
3,896

 
12,008

Total operating revenues
$
130,844

 
$
138,074

 
$
138,393


Operating revenues by geographic area are shown in the table below (in millions). The geographic area is based on location of customer and no customer accounted for 10 percent or more of our operating revenues.
 
Year Ended December 31,
 
2014
 
2013
 
2012
U.S.
$
91,499

 
$
100,418

 
$
99,879

Canada
10,410

 
9,974

 
10,376

U.K. and Ireland
14,182

 
13,675

 
12,818

Other countries
14,753

 
14,007

 
15,320

Total operating revenues
$
130,844

 
$
138,074

 
$
138,393


Long-lived assets include property, plant, and equipment and certain long-lived assets included in “deferred charges and other assets, net.” Geographic information by country for long-lived assets consisted of the following (in millions):
 
December 31,
 
2014
 
2013
U.S.
$
24,710

 
$
23,572

Canada
2,250

 
2,260

U.K.
1,206

 
1,148

Aruba
59

 
53

Ireland
22

 
26

Total long-lived assets
$
28,247

 
$
27,059


Total assets by reportable segment were as follows (in millions):
 
December 31,
 
2014
 
2013
Refining
$
40,103

 
$
41,227

Ethanol
954

 
889

Corporate
4,493

 
5,144

Total assets
$
45,550

 
$
47,260


In March 2014, we purchased an idled corn ethanol plant in Mount Vernon, Indiana for $34 million from a wholly owned subsidiary of Aventine Renewable Energy Holdings, Inc. We resumed production at that plant during the third quarter of 2014. In the fourth quarter of 2014, an independent appraisal of the assets acquired and liabilities assumed and certain other evaluations of the fair values related to the Mount Vernon plant were completed and finalized. The purchase price of the Mount Vernon plant was allocated based on the fair values of the assets acquired and the liabilities assumed at the date of acquisition resulting from this final appraisal and other evaluations. There were no significant adjustments made to the preliminary purchase price allocation.