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Revenue (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major product

The following tables present the Company’s revenue, disaggregated by major product. The following tables include a reconciliation of the disaggregated revenue with the Company’s reportable segments.

			Three Months Ended March 31, 2020
(in millions)			Petroleum						Nitrogen Fertilizer						Other / Eliminations						Consolidated
Major Product
Gasoline			$	516					$	—					$	—					$	516
Distillates (1)			476						—						—						476
Ammonia			—						14						—						14
UAN			—						47						—						47
Other urea products			—						4						—						4
Freight revenue			5						8						—						13
Other (2)			23						2						(2)						23
Revenue from product sales			1,020						75						(2)						1,093
Crude oil sales			37						—						—						37
Net sales			$	1,057					$	75					$	(2)					$	1,130

			Three Months Ended March 31, 2019
(in millions)			Petroleum						Nitrogen Fertilizer						Other / Eliminations						Consolidated
Major Product
Gasoline			$	673					$	—					$	—					$	673
Distillates (1)			651						—						—						651
Ammonia			—						13						—						13
UAN			—						64						—						64
Other urea products			—						5						—						5
Freight revenue			6						8						—						14
Other (2)			43						2						(3)						42
Revenue from product sales			1,373						92						(3)						1,462
Crude oil sales			23						—						—						23
Other revenue (2)			1						—						—						1
Net sales			$	1,397					$	92					$	(3)					$	1,486

(1)Distillates consist primarily of diesel fuel, kerosene, and jet fuel.

(2)Other revenue consists primarily of feedstock and asphalt sales.

Summary of deferred revenue activity

A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the three months ended March 31, 2020 is presented below:

(in millions)
Balance at December 31, 2019			$	28
Add:
New prepay contracts entered into during the period (1)			17
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period			6
Revenue recognized related to contracts entered into during the period			1
Balance at March 31, 2020			$	38

(1) Includes $16 million where payment associated with prepaid contracts was collected as of March 31, 2020.

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- Definition

Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130551-203045

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045

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- References

No definition available.

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