Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Schedule Of Segment Reporting Information


	Refining		Renewables		Marketing		Lubricants & Specialties		Midstream		Corporate, Other and Eliminations		Consolidated Total

	(In thousands)
Three Months Ended June 30, 2024
Sales and other revenues:
Revenues from external customers	$	5,970,098	$	180,228	$	942,362	$	726,049	$	27,094	$	—	$	7,845,831
Intersegment revenues and other (1)	1,007,711		68,050		—		5,350		131,087		(1,212,198)		—
	$	6,977,809	$	248,278	$	942,362	$	731,399	$	158,181	$	(1,212,198)	$	7,845,831
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	6,291,029		220,056		919,611		531,390		—		(1,211,561)		6,750,525
Lower of cost or market inventory valuation adjustment	—		(3,123)		—		—		—		—		(3,123)
Operating expenses	449,097		24,705		—		64,445		51,089		1,981		591,317
	6,740,126		241,638		919,611		595,835		51,089		(1,209,580)		7,338,719
Selling, general and administrative expenses	50,740		1,384		7,345		38,209		2,925		4,255		104,858
Depreciation and amortization	122,215		19,786		6,374		22,716		14,943		19,286		205,320

Income (loss) from operations	$	64,728	$	(14,530)	$	9,032	$	74,639	$	89,224	$	(26,159)	$	196,934
Earnings of equity method investments	$	—	$	—	$	—	$	—	$	7,158	$	957	$	8,115
Capital expenditures	$	35,694	$	3,271	$	12,960	$	7,173	$	11,144	$	13,967	$	84,209

Three Months Ended June 30, 2023
Sales and other revenues:
Revenues from external customers	$	5,901,713	$	175,063	$	1,040,933	$	686,104	$	29,833	$	—	$	7,833,646
Intersegment revenues and other (1)	1,137,669		98,122		—		4,529		106,540		(1,346,860)		—
	$	7,039,382	$	273,185	$	1,040,933	$	690,633	$	136,373	$	(1,346,860)	$	7,833,646
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	5,842,573		258,806		1,008,306		510,581		—		(1,346,661)		6,273,605
Lower of cost or market inventory valuation adjustment	26,842		(34,705)		—		—		—		—		(7,863)
Operating expenses	411,324		24,373		—		64,034		45,853		1,216		546,800
	6,280,739		248,474		1,008,306		574,615		45,853		(1,345,445)		6,812,542
Selling, general and administrative expenses	53,038		1,336		8,127		44,914		5,512		14,461		127,388
Depreciation and amortization	112,542		18,968		6,016		20,379		21,819		9,636		189,360

Income (loss) from operations	$	593,063	$	4,407	$	18,484	$	50,725	$	63,189	$	(25,512)	$	704,356
Earnings of equity method investments	$	—	$	—	$	—	$	—	$	3,545	$	—	$	3,545
Capital expenditures	$	45,187	$	3,537	$	6,200	$	5,734	$	8,650	$	10,873	$	80,181


	Refining		Renewables		Marketing		Lubricants & Specialties		Midstream		Corporate, Other and Eliminations		Consolidated Total

	(In thousands)
Six Months Ended June 30, 2024
Sales and other revenues:
Revenues from external customers	$	11,343,123	$	359,897	$	1,718,169	$	1,401,594	$	50,193	$	—	$	14,872,976
Intersegment revenues and other (1)	1,838,931		127,940		—		7,792		263,003		(2,237,666)		—
	$	13,182,054	$	487,837	$	1,718,169	$	1,409,386	$	313,196	$	(2,237,666)	$	14,872,976
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	11,765,551		450,329		1,672,141		1,024,236		—		(2,235,232)		12,677,025
Lower of cost or market inventory valuation adjustment	(220,558)		(1,935)		—		—		—		—		(222,493)
Operating expenses	921,183		51,166		—		128,445		96,607		1,028		1,198,429
	12,466,176		499,560		1,672,141		1,152,681		96,607		(2,234,204)		13,652,961
Selling, general and administrative expenses	99,457		2,786		15,101		72,777		6,854		11,257		208,232
Depreciation and amortization	239,585		40,058		12,677		45,227		35,063		31,439		404,049

Income (loss) from operations	$	376,836	$	(54,567)	$	18,250	$	138,701	$	174,672	$	(46,158)	$	607,734
Earnings of equity method investments	$	—	$	—	$	—	$	—	$	14,546	$	915	$	15,461
Capital expenditures	$	90,718	$	5,921	$	20,491	$	12,484	$	19,249	$	24,454	$	173,317

Six Months Ended June 30, 2023
Sales and other revenues:
Revenues from external customers	$	11,566,927	$	377,476	$	1,978,318	$	1,419,818	$	56,249	$	—	$	15,398,788
Intersegment revenues and other (1)	2,191,070		193,725		—		10,325		216,056		(2,611,176)		—
	$	13,757,997	$	571,201	$	1,978,318	$	1,430,143	$	272,305	$	(2,611,176)	$	15,398,788
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	11,483,704		521,544		1,932,355		1,049,441		—		(2,609,382)		12,377,662
Lower of cost or market inventory valuation adjustment	26,842		12,892		—		—		—		—		39,734
Operating expenses	913,083		55,744		—		127,627		87,532		2,197		1,186,183
	12,423,629		590,180		1,932,355		1,177,068		87,532		(2,607,185)		13,603,579
Selling, general and administrative expenses	92,116		2,251		15,090		84,178		10,147		19,519		223,301
Depreciation and amortization	212,625		38,942		11,887		39,747		41,581		18,561		363,343

Income (loss) from operations	$	1,029,627	$	(60,172)	$	18,986	$	129,150	$	133,045	$	(42,071)	$	1,208,565
Earnings of equity method investments	$	—	$	—	$	—	$	—	$	7,427	$	—	$	7,427
Capital expenditures	$	112,961	$	8,381	$	11,455	$	14,383	$	16,264	$	16,806	$	180,250

(1)Includes income earned by certain of our subsidiaries in the Midstream segment related to intercompany transportation agreements with certain of our subsidiaries in the Refining and Lubricants & Specialties segments that represent leases. These transactions eliminate in consolidation.