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Revenues and Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Schedule of contract balances | Contract balances were as follows (in millions):
| December 31, |  |
| 2021 |  | 2020 |  |
Receivables from contracts with customers (see Note 4) | $ | 6,228 |  |  | $ | 3,642 |  |  |
Contract liabilities, included in accrued expenses (see Note 9) | 78 |  |  | 55 |  |  |
Segment activity, including total assets by reportable segment | The following tables reflect information about our operating income (loss) and total expenditures for long-lived assets by reportable segment (in millions):
| Refining |  | Renewable Diesel |  | Ethanol |  | Corporate and Eliminations |  | Total
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
Revenues from external customers | $ | 106,947 |  |  | $ | 1,874 |  |  | $ | 5,156 |  |  | $ | — |  |  | $ | 113,977 |
Intersegment revenues | 14 |  |  | 468 |  |  | 433 |  |  | (915) |  |  | — |
Total revenues | 106,961 |  |  | 2,342 |  |  | 5,589 |  |  | (915) |  |  | 113,977 |
Cost of sales: |  |  |  |  |  |  |  |  |
Cost of materials and other (a) | 97,759 |  |  | 1,438 |  |  | 4,428 |  |  | (911) |  |  | 102,714 |
Operating expenses (excluding depreciation and amortization expense reflected below) | 5,088 |  |  | 134 |  |  | 556 |  |  | (2) |  |  | 5,776 |
Depreciation and amortization expense | 2,169 |  |  | 58 |  |  | 131 |  |  | — |  |  | 2,358 |
Total cost of sales | 105,016 |  |  | 1,630 |  |  | 5,115 |  |  | (913) |  |  | 110,848 |
Other operating expenses | 83 |  |  | 3 |  |  | 1 |  |  | — |  |  | 87 |
General and administrative expenses (excluding depreciation and amortization expense reflected below) | — |  |  | — |  |  | — |  |  | 865 |  |  | 865 |
Depreciation and amortization expense | — |  |  | — |  |  | — |  |  | 47 |  |  | 47 |
Operating income by segment | $ | 1,862 |  |  | $ | 709 |  |  | $ | 473 |  |  | $ | (914) |  |  | $ | 2,130 |
Total expenditures for long-lived assets (b) | $ | 1,374 |  |  | $ | 1,049 |  |  | $ | 18 |  |  | $ | 17 |  |  | $ | 2,458 |
________________________ See notes on page 126.
| Refining |  | Renewable Diesel |  | Ethanol |  | Corporate and Eliminations |  | Total
Year ended December 31, 2020 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
Revenues from external customers | $ | 60,840 |  |  | $ | 1,055 |  |  | $ | 3,017 |  |  | $ | — |  |  | $ | 64,912 |
Intersegment revenues | 8 |  |  | 212 |  |  | 226 |  |  | (446) |  |  | — |
Total revenues | 60,848 |  |  | 1,267 |  |  | 3,243 |  |  | (446) |  |  | 64,912 |
Cost of sales: |  |  |  |  |  |  |  |  |
Cost of materials and other (a) | 56,093 |  |  | 500 |  |  | 2,784 |  |  | (444) |  |  | 58,933 |
LCM inventory valuation adjustment | (19) |  |  | — |  |  | — |  |  | — |  |  | (19) |
Operating expenses (excluding depreciation and amortization expense reflected below) | 3,944 |  |  | 85 |  |  | 406 |  |  | — |  |  | 4,435 |
Depreciation and amortization expense | 2,138 |  |  | 44 |  |  | 121 |  |  | — |  |  | 2,303 |
Total cost of sales | 62,156 |  |  | 629 |  |  | 3,311 |  |  | (444) |  |  | 65,652 |
Other operating expenses | 34 |  |  | — |  |  | 1 |  |  | — |  |  | 35 |
General and administrative expenses (excluding depreciation and amortization expense reflected below) | — |  |  | — |  |  | — |  |  | 756 |  |  | 756 |
Depreciation and amortization expense | — |  |  | — |  |  | — |  |  | 48 |  |  | 48 |
Operating income (loss) by segment | $ | (1,342) |  |  | $ | 638 |  |  | $ | (69) |  |  | $ | (806) |  |  | $ | (1,579) |
Total expenditures for long-lived assets (b) | $ | 1,838 |  |  | $ | 548 |  |  | $ | 23 |  |  | $ | 27 |  |  | $ | 2,436 |
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |
Revenues from external customers | $ | 103,746 |  |  | $ | 970 |  |  | $ | 3,606 |  |  | $ | 2 |  |  | $ | 108,324 |
Intersegment revenues | 18 |  |  | 247 |  |  | 231 |  |  | (496) |  |  | — |
Total revenues | 103,764 |  |  | 1,217 |  |  | 3,837 |  |  | (494) |  |  | 108,324 |
Cost of sales: |  |  |  |  |  |  |  |  |
Cost of materials and other (a) | 93,371 |  |  | 360 |  |  | 3,239 |  |  | (494) |  |  | 96,476 |
Operating expenses (excluding depreciation and amortization expense reflected below) | 4,289 |  |  | 75 |  |  | 504 |  |  | — |  |  | 4,868 |
Depreciation and amortization expense | 2,062 |  |  | 50 |  |  | 90 |  |  | — |  |  | 2,202 |
Total cost of sales | 99,722 |  |  | 485 |  |  | 3,833 |  |  | (494) |  |  | 103,546 |
Other operating expenses | 20 |  |  | — |  |  | 1 |  |  | — |  |  | 21 |
General and administrative expenses (excluding depreciation and amortization expense reflected below) | — |  |  | — |  |  | — |  |  | 868 |  |  | 868 |
Depreciation and amortization expense | — |  |  | — |  |  | — |  |  | 53 |  |  | 53 |
Operating income by segment | $ | 4,022 |  |  | $ | 732 |  |  | $ | 3 |  |  | $ | (921) |  |  | $ | 3,836 |
Total expenditures for long-lived assets (b) | $ | 2,581 |  |  | $ | 160 |  |  | $ | 47 |  |  | $ | 58 |  |  | $ | 2,846 |
________________________ (a)Cost of materials and other for our Renewable Diesel segment is net of blender’s tax credit on qualified fuel mixtures of $371 million, $288 million, and $431 million for the years ended December 31, 2021, 2020, and 2019, respectively. Of the amount recognized in 2019, $156 million related to volumes blended during 2018, given that the legislation that retroactively reinstated the credit was passed and signed into law in December 2019. (b)Total expenditures for long-lived assets includes amounts related to capital expenditures; deferred turnaround and catalyst costs; and property, plant, and equipment for acquisitions. Total assets by reportable segment were as follows (in millions):
| December 31,
| 2021 |  | 2020
Refining | $ | 47,365 |  |  | $ | 42,939 |
Renewable Diesel | 3,437 |  |  | 1,659 |
Ethanol | 1,812 |  |  | 1,728 |
Corporate and eliminations | 5,274 |  |  | 5,448 |
Total assets | $ | 57,888 |  |  | $ | 51,774 |
Operating revenues from external customers by product | The following table provides a disaggregation of revenues from external customers for our principal products by reportable segment (in millions):
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Refining: |  |  |  |  |
Gasolines and blendstocks | $ | 49,534 |  |  | $ | 26,278 |  |  | $ | 42,798 |
Distillates | 45,939 |  |  | 28,234 |  |  | 51,942 |
Other product revenues | 11,474 |  |  | 6,328 |  |  | 9,006 |
Total refining revenues | 106,947 |  |  | 60,840 |  |  | 103,746 |
Renewable Diesel: |  |  |  |  |
Renewable diesel | 1,874 |  |  | 1,055 |  |  | 970 |
Ethanol: |  |  |  |  |
Ethanol | 4,122 |  |  | 2,353 |  |  | 2,889 |
Distillers grains | 1,034 |  |  | 664 |  |  | 717 |
Total ethanol revenues | 5,156 |  |  | 3,017 |  |  | 3,606 |
Corporate – other revenues | — |  |  | — |  |  | 2 |
Revenues | $ | 113,977 |  |  | $ | 64,912 |  |  | $ | 108,324 |
Operating revenues by geographic area of customer | Revenues by geographic area are shown in the following table (in millions). The geographic area is based on location of customer and no customer accounted for 10 percent or more of our revenues.
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
U.S. | $ | 82,940 |  |  | $ | 45,174 |  |  | $ | 77,173 |
Canada | 6,597 |  |  | 4,294 |  |  | 7,915 |
U.K. and Ireland | 13,307 |  |  | 9,268 |  |  | 13,584 |
Other countries | 11,133 |  |  | 6,176 |  |  | 9,652 |
Revenues | $ | 113,977 |  |  | $ | 64,912 |  |  | $ | 108,324 |
Geographic information by country for long-lived assets | Long-lived assets by geographic area consisted of the following (in millions):
| December 31,
| 2021 |  | 2020
U.S. | $ | 28,518 |  |  | $ | 28,184 |
Canada | 1,855 |  |  | 1,877 |
U.K. and Ireland | 1,528 |  |  | 1,353 |
Mexico and Peru | 859 |  |  | 738 |
Total long-lived assets | $ | 32,760 |  |  | $ | 32,152 |

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