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Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Our operations are organized into five reportable segments: Refining, Renewables, Marketing, Lubricants & Specialties and Midstream. Our operations that are not included in one of these five reportable segments are included in Corporate and Other. Intersegment transactions are eliminated in our consolidated financial statements and are included in Eliminations. Corporate and Other and Eliminations are aggregated and presented under the Corporate, Other and Eliminations column.

The Refining segment represents the operations of our El Dorado, Tulsa, Navajo, Woods Cross, Puget Sound, Parco and Casper refineries and HF Sinclair Asphalt Company LLC (“Asphalt”). Refining activities involve the purchase and refining of crude oil and wholesale marketing of refined products, such as gasoline, diesel fuel and jet fuel. These petroleum products are primarily marketed in the Mid-Continent, Southwest and Rocky Mountains extending into the Pacific Northwest geographic regions of the United States. Asphalt operates various asphalt terminals in Arizona, New Mexico and Oklahoma.

The Renewables segment represents the operations of our Cheyenne renewable diesel unit (“RDU”), Artesia RDU, Sinclair RDU and the pre-treatment unit at our Artesia, New Mexico facility.

The Marketing segment represents branded fuel sales to Sinclair branded sites in the United States and licensing fees for the use of the Sinclair brand at additional locations throughout the country. The Marketing segment also includes branded fuel sales to non-Sinclair branded sites and revenues from other marketing activities. Our branded sites are located in several states across the United States with the highest concentration of the sites located in our West and Mid-Continent regions.

The Lubricants & Specialties segment represents Petro-Canada Lubricants’ production operations, located in Mississauga, Ontario, which includes lubricant products such as base oils, white oils, specialty products and finished lubricants, and the operations of our Petro-Canada Lubricants’ business that includes the marketing of products to both retail and wholesale outlets through a global sales network with locations in Canada, the United States and Europe. Additionally, the Lubricants & Specialties segment includes specialty lubricant products produced at our Tulsa refineries that are marketed throughout North America and are distributed in Central and South America and the operations of Red Giant Oil, one of the leading suppliers of locomotive engine oil in North America. Also, the Lubricants & Specialties segment includes Sonneborn, a producer of specialty hydrocarbon chemicals such as white oils, petrolatums and waxes with manufacturing facilities in the United States and Europe.
The Midstream segment includes all of the operations of our wholly-owned subsidiary HEP, which owns and operates logistics and refinery assets consisting of petroleum product and crude oil pipelines, and terminals, tankage and loading rack facilities in the Mid-Continent, Southwest and Rocky Mountains geographic regions of the United States. The Midstream segment also includes 50% ownership interests in each of Osage Pipeline Company, LLC, the owner of a pipeline running from Cushing, Oklahoma to El Dorado, Kansas, and Cushing Connect Pipeline & Terminal LLC, the owner of a pipeline running from Cushing, Oklahoma to Tulsa, Oklahoma, a 26.08% ownership interest in Saddle Butte Pipeline III, LLC, the owner of a pipeline running from the Powder River Basin to Casper, Wyoming, and a 49.995% ownership interest in Pioneer Investments Corp., the owner of a pipeline running from Sinclair, Wyoming to the North Salt Lake City, Utah Terminal. Revenues and other income from the Midstream segment are earned through transactions with unaffiliated parties for pipeline transportation, rental and terminalling operations as well as revenues relating to pipeline transportation, terminalling operations and tankage facilities provided for our refining operations.

Our chief operating decision maker (“CODM”), who is also our Chief Executive Officer, evaluates the performance of our segments using segment Income (loss) from operations. Amounts included in Income (loss) before income taxes in our consolidated statements of operations and excluded from our performance measure, Income (loss) from operations, include Other income (expense), net. Other income (expense), net includes Earnings of equity method investments, Interest income, Interest expense and other items believed to be non-operating and non-recurring in nature. Assets by segment are not a measure used to assess our performance by the CODM and thus are not reported in our disclosures. Intersegment sales are generally derived from transactions made at prevailing market rates.

The accounting policies for our segments are the same as those described in the summary of significant accounting policies in our Annual Report on Form 10-K for the year ended December 31, 2024.

The following is a summary of the financial information of our reportable segments reconciled to the amounts reported in our consolidated financial statements.
RefiningRenewablesMarketingLubricants & SpecialtiesMidstream
Corporate, Other and Eliminations
Consolidated
Total
(In millions)
Three Months Ended September 30, 2025
Sales and other revenues:
Revenues from external customers$5,507 $163 $898 $654 $29 $— $7,251 
Intersegment revenues and other (1)
936 114 — 1 131 (1,182)— 
6,443 277 898 655 160 (1,182)7,251 
Cost of sales: (2)
Cost of materials and other (3)
5,278 267 860 470 — (1,183)5,692 
Lower of cost or market inventory valuation adjustments46 20 — — — — 66 
Operating expenses447 22 — 71 50 — 590 
5,771 309 860 541 50 (1,183)6,348 
Selling, general and administrative expenses (2)
53 1 10 36 1 4 105 
Depreciation and amortization139 22 7 26 18 18 230 
Other operating expenses, net4 — — — — — 4 
Income (loss) from operations476 (55)21 52 91 (21)564 
Earnings of equity method investments— — — — 6 — 6 
Interest income— — — 2 1 8 11 
Interest expense— (1)— — (1)(49)(51)
Other income (expense), net— — 1 — 1 (4)(2)
Income (loss) before income taxes$476 $(56)$22 $54 $98 $(66)$528 
Capital expenditures$79 $— $17 $8 $9 $8 $121 
Three Months Ended September 30, 2024
Sales and other revenues:
Revenues from external customers$5,387 $160 $950 $683 $27 $— $7,207 
Intersegment revenues and other (1)
995 105 — 3 137 (1,240)— 
6,382 265 950 686 164 (1,240)7,207 
Cost of sales: (2)
Cost of materials and other (3)
5,732 237 918 509 — (1,238)6,158 
Lower of cost or market inventory valuation adjustments199 3 — — — — 202 
Operating expenses485 25 — 61 59 — 630 
6,416 265 918 570 59 (1,238)6,990 
Selling, general and administrative expenses (2)
55 2 10 38 3 10 118 
Depreciation and amortization123 21 6 22 18 20 210 
Asset impairments— — — — 10 — 10 
Income (loss) from operations(212)(23)16 56 74 (32)(121)
Earnings of equity method investments— — — — 7 1 8 
Interest income— 1 — 3 3 11 18 
Interest expense— (2)— — (8)(30)(40)
Other income (expense), net
— — — (2)(1)7 4 
Income (loss) before income taxes$(212)$(24)$16 $57 $75 $(43)$(131)
Capital expenditures$71 $1 $13 $11 $16 $12 $124 
RefiningRenewablesMarketing
Lubricants & Specialties
Midstream
Corporate, Other and Eliminations
Consolidated
Total
(In millions)
Nine Months Ended September 30, 2025
Sales and other revenues:
Revenues from external customers$15,588 $388 $2,410 $1,932 $87 $— $20,405 
Intersegment revenues and other (1)
2,525 337 — 6 386 (3,254)— 
18,113 725 2,410 1,938 473 (3,254)20,405 
Cost of sales: (2)
Cost of materials and other (3)
15,463 688 2,304 1,409 — (3,256)16,608 
Lower of cost or market inventory valuation adjustments102 (5)— — — — 97 
Operating expenses1,349 67 — 198 141 3 1,758 
16,914 750 2,304 1,607 141 (3,253)18,463 
Selling, general and administrative expenses (2)
159 2 26 115 5 16 323 
Depreciation and amortization410 71 21 70 55 54 681 
Other operating expenses, net18 — — — — — 18 
Income (loss) from operations612 (98)59 146 272 (71)920 
Earnings of equity method investments— — — — 27 — 27 
Interest income— 1 — 4 6 16 27 
Interest expense— (5)— — (5)(143)(153)
Other income (expense), net
— — 1 2 (40)(11)(48)
Income (loss) before income taxes
$612 $(102)$60 $152 $260 $(209)$773 
Capital expenditures$209 $2 $33 $28 $30 $16 $318 
Nine Months Ended September 30, 2024
Sales and other revenues:
Revenues from external customers$16,730 $520 $2,668 $2,084 $78 $— $22,080 
Intersegment revenues and other (1)
2,834 233 — 11 399 (3,477)— 
19,564 753 2,668 2,095 477 (3,477)22,080 
Cost of sales: (2)
Cost of materials and other (3)
17,497 688 2,591 1,533 — (3,474)18,835 
Lower of cost or market inventory valuation adjustments(22)2 — — — — (20)
Operating expenses1,407 76 — 189 156 — 1,828 
18,882 766 2,591 1,722 156 (3,474)20,643 
Selling, general and administrative expenses (2)
154 4 24 112 11 22 327 
Depreciation and amortization363 61 19 67 52 51613 
Asset impairments— — — — 10 — 10 
Income (loss) from operations165 (78)34 194 248 (76)487 
Earnings of equity method investments— — — — 22 2 24 
Interest income— 1 — 6 9 43 59 
Interest expense— (5)— (1)(26)(95)(127)
Other income (expense), net
— — — (1)— 6 5 
Income (loss) before income taxes$165 $(82)$34 $198 $253 $(120)$448 
Capital expenditures$162 $7 $33 $23 $35 $37 $297 
(1)Refining segment intersegment revenues relate to transportation fuels sold to the Marketing segment. Midstream segment revenues relate to pipeline and terminalling services provided primarily to the Refining segment, including leases. These transactions eliminate in consolidation.
(2)Exclusive of Depreciation and amortization.
(3)Exclusive of Lower of cost or market inventory valuation adjustments.