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Segments | 3 Months Ended
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Mar. 31, 2019
Segment Reporting [Abstract] |
Segments | SEGMENTS Refinery Operations Our refinery segment operates for the benefit of the airline segment by providing jet fuel to the airline segment from its own production and through jet fuel obtained through agreements with third parties. The refinery's production consists of jet fuel, as well as non-jet fuel products. We use several counterparties to exchange the non-jet fuel products produced by the refinery for jet fuel consumed in our airline operations. The gross fair value of the products exchanged under these agreements during the three months ended March 31, 2019 and 2018 was $732 million and $876 million, respectively. Segment Reporting Segment results are prepared based on our internal accounting methods described below, with reconciliations to consolidated amounts in accordance with GAAP. Our segments are not designed to measure operating income or loss directly related to the products and services included in each segment on a stand-alone basis.
(in millions) | Airline | Refinery |  | Intersegment Sales/Other |  | Consolidated
Three Months Ended March 31, 2019 |  |  |  |  |  |
Operating revenue: | $ | 10,424 |  | $ | 1,283 |  |  |  |  | $ | 10,472 |
Sales to airline segment |  |  |  | $ | (271 | ) | (1) |
Exchanged products |  |  |  | (732 | ) | (2) |
Sales of refined products |  |  |  | (232 | ) | (3) |
Operating income (loss) | 1,054 |  | (34 | ) |  | — |  |  | 1,020 |
Interest expense (income), net | 92 |  | (9 | ) |  | — |  |  | 83 |
Depreciation and amortization | 592 |  | 23 |  |  | — |  |  | 615 |
Total assets, end of period | 60,343 |  | 1,498 |  |  | — |  |  | 61,841 |
Capital expenditures | 1,350 |  | 10 |  |  | — |  |  | 1,360 |
Three Months Ended March 31, 2018 |  |  |  |  |  |
Operating revenue: | $ | 9,755 |  | $ | 1,491 |  |  |  |  | $ | 9,968 |
Sales to airline segment |  |  |  | $ | (262 | ) | (1) |
Exchanged products |  |  |  | (876 | ) | (2) |
Sales of refined products |  |  |  | (140 | ) | (3) |
Operating income | 800 |  | 44 |  |  | — |  |  | 844 |
Interest expense (income), net | 97 |  | (5 | ) |  | — |  |  | 92 |
Depreciation and amortization | 588 |  | 15 |  |  | — |  |  | 603 |
Total assets, end of period | 56,929 |  | 2,039 |  |  | — |  |  | 58,968 |
Capital expenditures | 1,250 |  | 15 |  |  | — |  |  | 1,265 |
(1) | Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price by reference to the market index for the primary delivery location, which is New York Harbor, for jet fuel from the refinery.
(2) | Represents value of products delivered under our exchange agreements, as discussed above, determined on a market price basis.
(3) These sales were at or near cost; accordingly, the margin on these sales is de minimis.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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