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Business Segments (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Operating results and capital expenditures information by segment

The following table summarizes certain operating results and capital expenditures information by segment:

			Three Months Ended June 30,																		Six Months Ended June 30,
(in millions)			2020						2019						2020						2019
Net sales
Petroleum			$	572					$	1,552					$	1,629					$	2,949
Nitrogen Fertilizer			105						138						180						230
Other			(2)						(3)						(3)						(6)
Total			$	675					$	1,687					$	1,806					$	3,173
Operating income (loss)
Petroleum			$	5					$	163					$	(122)					$	319
Nitrogen Fertilizer			(26)						35						(31)						44
Other			(5)						(6)						(7)						(11)
Total			(26)						192						(160)						352
Interest expense, net			(31)						(26)						(67)						(52)
Investment income from marketable securities			21						—						52						—
Other (loss) income, net			(1)						3						—						6
(Loss) income before income taxes			$	(37)					$	169					$	(175)					$	306
Depreciation and amortization
Petroleum			$	50					$	52					$	99					$	101
Nitrogen Fertilizer			24						25						39						42
Other			—						1						—						2
Total			$	74					$	78					$	138					$	145
Capital expenditures (1)
Petroleum			$	22					$	17					$	63					$	38
Nitrogen Fertilizer			3						2						8						5
Other			1						3						2						3
Total			$	26					$	22					$	73					$	46

The following table summarizes total assets by segment:

(in millions)			June 30, 2020						December 31, 2019
Petroleum			$	2,872					$	3,187
Nitrogen Fertilizer			1,043						1,138
Other (2)			13						(420)
Total Assets			$	3,928					$	3,905

(1)Capital expenditures are shown exclusive of capitalized turnaround expenditures.

(2)Includes elimination of intercompany assets and net cash proceeds from the Notes issued during the six months ended June 30, 2020.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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- References

No definition available.

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