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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2016
Segment Reporting [Abstract] |
Segment information for our reportable segments | The following table reflects activity related to our reportable segments (in millions):
| Refining |  | Ethanol |  | Corporate |  | Total
Three months ended June 30, 2016: |  |  |  |  |  |  |
Total segment revenues | $ | 18,664 |  |  | $ | 965 |  |  | $ | — |  |  | $ | 19,629 |
Less intersegment revenues | — |  |  | 45 |  |  | — |  |  | 45 |
Operating revenues from external customers | $ | 18,664 |  |  | $ | 920 |  |  | $ | — |  |  | $ | 19,584 |
Lower of cost or market inventory valuation adjustment | $ | (434 | ) |  | $ | (20 | ) |  | $ | — |  |  | $ | (454 | )
Asset impairment loss | 56 |  |  | — |  |  | — |  |  | 56 |
Operating income (loss) | 1,332 |  |  | 69 |  |  | (170 | ) |  | 1,231 |
Three months ended June 30, 2015: |  |  |  |  |  |  |
Total segment revenues | $ | 24,350 |  |  | $ | 805 |  |  | $ | — |  |  | $ | 25,155 |
Less intersegment revenues | — |  |  | 37 |  |  | — |  |  | 37 |
Operating revenues from external customers | $ | 24,350 |  |  | $ | 768 |  |  | $ | — |  |  | $ | 25,118 |
Operating income (loss) | $ | 2,161 |  |  | $ | 108 |  |  | $ | (191 | ) |  | $ | 2,078 |
Six months ended June 30, 2016: |  |  |  |  |  |  |
Total segment revenues | $ | 33,584 |  |  | $ | 1,793 |  |  | $ | — |  |  | $ | 35,377 |
Less intersegment revenues | — |  |  | 79 |  |  | — |  |  | 79 |
Operating revenues from external customers | $ | 33,584 |  |  | $ | 1,714 |  |  | $ | — |  |  | $ | 35,298 |
Lower of cost or market inventory valuation adjustment | $ | (697 | ) |  | $ | (50 | ) |  | $ | — |  |  | $ | (747 | )
Asset impairment loss | 56 |  |  | — |  |  | — |  |  | 56 |
Operating income (loss) | 2,290 |  |  | 108 |  |  | (338 | ) |  | 2,060 |
Six months ended June 30, 2015: |  |  |  |  |  |  |
Total segment revenues | $ | 44,879 |  |  | $ | 1,634 |  |  | $ | — |  |  | $ | 46,513 |
Less intersegment revenues | — |  |  | 65 |  |  | — |  |  | 65 |
Operating revenues from external customers | $ | 44,879 |  |  | $ | 1,569 |  |  | $ | — |  |  | $ | 46,448 |
Operating income (loss) | $ | 3,802 |  |  | $ | 120 |  |  | $ | (349 | ) |  | $ | 3,573 |
Total assets by reportable segment were as follows (in millions):
| June 30, 2016 |  | December 31, 2015
Refining | $ | 38,634 |  |  | $ | 38,068 |
Ethanol | 1,005 |  |  | 1,016 |
Corporate | 5,813 |  |  | 5,143 |
Total assets | $ | 45,452 |  |  | $ | 44,227 |

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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