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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 208 $ 470
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 451 403
Other operating expenses, net 1 0
Lower of cost or market inventory valuation adjustments 31 (223)
Earnings of equity method investments, net of distributions (1) (2)
Loss on early extinguishment of debt 16 0
Gain on sale of assets (1) (1)
Loss on sale of equity method investment 40 0
Deferred income tax expense 5 11
Equity-based compensation expense 13 11
Change in fair value – derivative instruments 40 (10)
(Increase) decrease in current assets:    
Accounts receivable (96) 57
Inventories (25) (29)
Income taxes receivable 17 2
Prepayments and other 3 (11)
Increase (decrease) in current liabilities:    
Accounts payable (22) (32)
Income taxes payable 0 8
Accrued liabilities 156 33
Turnaround expenditures (284) (169)
Other, net (54) 23
Net cash provided by operating activities 498 541
Cash flows from investing activities:    
Additions to properties, plants and equipment (197) (173)
Proceeds from sale of assets 2 1
Investment in Osage Pipe Line Company, LLC 0 (5)
Distributions in excess of equity in earnings of equity investments 2 4
Net cash used for investing activities (193) (173)
Cash flows from financing activities:    
Repayments under credit agreements (350) (106)
Proceeds from issuance of senior notes 1,394 0
Redemption of senior notes (1,007) 0
Purchase of treasury stock (50) (541)
Dividends (190) (195)
Distributions to noncontrolling interests (6) (4)
Payments on finance leases (8) (5)
Deferred financing costs (19) 0
Other, net (3) 0
Net cash used for financing activities (239) (851)
Effect of exchange rate on cash flow 8 (5)
Cash and cash equivalents:    
Net change for the period 74 (488)
Cash and cash equivalents at beginning of period 800 1,354
Cash and cash equivalents at end of period 874 866
Cash paid during the period for:    
Interest (63) (84)
Income taxes, net (3) (89)
Decrease in accrued and unpaid capital expenditures $ (8) $ (5)