XML 119 R101.htm IDEA: XBRL DOCUMENT v3.20.4
Revenues and Segment Information, Activity (Details)
$ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Mar. 31, 2020
USD ($)
Dec. 31, 2020
USD ($)
 [1]
Sep. 30, 2020
USD ($)
Jun. 30, 2020
USD ($)
Mar. 31, 2020
USD ($)
 [2]
Dec. 31, 2019
USD ($)
Sep. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
Mar. 31, 2019
USD ($)
Dec. 31, 2020
USD ($)
segment
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Segment Information for our Reportable Segments                        
Revenues   $ 16,604 $ 15,809 [1],[2] $ 10,397 [2] $ 22,102 $ 27,879 $ 27,249 $ 28,933 $ 24,263 $ 64,912 [3] $ 108,324 [3] $ 117,033 [3]
Cost of sales:                        
Cost of materials and other                   58,933 96,476 104,732
LCM inventory valuation adjustment $ 2,500   (300) (2,200)           (19) 0 0
Operating expenses (excluding depreciation and amortization expense reflected below)                   4,435 4,868 4,690
Depreciation and amortization expense                   2,303 2,202 2,017
Total cost of sales                   65,652 103,546 111,439
Other operating expenses                   35 21 45
General and administrative expenses (excluding depreciation and amortization expense reflected below)                   756 868 925
Depreciation and amortization expense                   48 53 52
Operating income (loss)   $ (470) $ (621) [1],[2] $ 1,789 [2] $ (2,277) $ 1,739 $ 881 $ 908 $ 308 (1,579) 3,836 4,572
Total expenditures for long-lived assets [4]                   $ 2,436 2,846 3,376
Segment Information (Textual)                        
Number of reportable segments | segment                   3    
Corporate, Reconciling Items, and Eliminations[Member]                        
Segment Information for our Reportable Segments                        
Revenues                   $ (446) (494) (401)
Cost of sales:                        
Operating income (loss)                   (806) (921) (974)
Corporate [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   0 2 4
Cost of sales:                        
General and administrative expenses (excluding depreciation and amortization expense reflected below)                   756 868 925
Depreciation and amortization expense                   48 53 52
Total expenditures for long-lived assets [4]                   27 58 44
Intersegment Eliminations [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   (446) (496) (405)
Cost of sales:                        
Cost of materials and other                   (444) (494) (404)
LCM inventory valuation adjustment                   0    
Operating expenses (excluding depreciation and amortization expense reflected below)                   0 0 0
Depreciation and amortization expense                   0 0 0
Total cost of sales                   (444) (494) (404)
Other operating expenses                   0 0 0
Refining [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   60,840 103,746 113,093
Refining [Member] | Operating Segments [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   60,848 103,764 113,118
Cost of sales:                        
Cost of materials and other                   56,093 93,371 101,866
LCM inventory valuation adjustment                   (19)    
Operating expenses (excluding depreciation and amortization expense reflected below)                   3,944 4,289 4,154
Depreciation and amortization expense                   2,138 2,062 1,910
Total cost of sales                   62,156 99,722 107,930
Other operating expenses                   34 20 45
General and administrative expenses (excluding depreciation and amortization expense reflected below)                   0 0 0
Depreciation and amortization expense                   0 0 0
Operating income (loss)                   (1,342) 4,022 5,143
Total expenditures for long-lived assets [4]                   1,838 2,581 2,767
Refining [Member] | Intersegment Eliminations [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   8 18 25
Renewable Diesel [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   1,055 970 508
Renewable Diesel [Member] | Operating Segments [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   1,267 1,217 678
Cost of sales:                        
Cost of materials and other                   500 360 262
LCM inventory valuation adjustment                   0    
Operating expenses (excluding depreciation and amortization expense reflected below)                   85 75 66
Depreciation and amortization expense                   44 50 29
Total cost of sales                   629 485 357
Other operating expenses                   0 0 0
General and administrative expenses (excluding depreciation and amortization expense reflected below)                   0 0 0
Depreciation and amortization expense                   0 0 0
Operating income (loss)                   638 732 321
Total expenditures for long-lived assets [4]                   548 160 192
Renewable Diesel [Member] | Intersegment Eliminations [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   212 247 170
Ethanol [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   3,017 3,606 3,428
Ethanol [Member] | Operating Segments [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   3,243 3,837 3,638
Cost of sales:                        
Cost of materials and other                   2,784 3,239 3,008
LCM inventory valuation adjustment                   0    
Operating expenses (excluding depreciation and amortization expense reflected below)                   406 504 470
Depreciation and amortization expense                   121 90 78
Total cost of sales                   3,311 3,833 3,556
Other operating expenses                   1 1 0
General and administrative expenses (excluding depreciation and amortization expense reflected below)                   0 0 0
Depreciation and amortization expense                   0 0 0
Operating income (loss)                   (69) 3 82
Total expenditures for long-lived assets [4]                   23 47 373
Ethanol [Member] | Intersegment Eliminations [Member]                        
Segment Information for our Reportable Segments                        
Revenues                   $ 226 $ 231 $ 210
[1] We recorded a charge of $326 million in September 2020 due to the expected liquidation of LIFO inventory layers as described in Note 5. We recognized a benefit of $102 million in December 2020 to adjust the $326 million estimate to the $224 million actual charge for the year ended December 31, 2020.
[2] The market value of our inventories accounted for under the LIFO method fell below their historical cost on an aggregate basis as of March 31, 2020. As a result, we recorded an LCM inventory valuation adjustment of $2.5 billion in March 2020 as described in Note 5. The market value of our LIFO inventories improved due to the subsequent recovery in market prices, which resulted in a reversal of $2.2 billion in the quarter ended June 30, 2020 and the remaining amount in the quarter ended September 30, 2020.
[3] Includes excise taxes on sales by certain of our international operations of $4,797 million, $5,595 million, and $5,626 million for the years ended December 31, 2020, 2019, and 2018.
[4] Total expenditures for long-lived assets includes amounts related to capital expenditures; deferred turnaround and catalyst costs; and property, plant, and equipment for acquisitions.