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Revenue (Tables) | 3 Months Ended
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Mar. 31, 2021
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, 2021
(in millions) |  |  |  |  |  |  |  |  | Petroleum |  | Nitrogen Fertilizer |  | Other / Elimination |  | Consolidated
Major Product |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gasoline |  |  |  |  |  |  |  |  | $ | 750 |  |  | $ | — |  |  | $ | — |  |  | $ | 750 |
Distillates (1) |  |  |  |  |  |  |  |  | 587 |  |  | — |  |  | — |  |  | 587 |
Ammonia |  |  |  |  |  |  |  |  | — |  |  | 10 |  |  | — |  |  | 10 |
UAN |  |  |  |  |  |  |  |  | — |  |  | 38 |  |  | — |  |  | 38 |
Other urea products |  |  |  |  |  |  |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Freight revenue |  |  |  |  |  |  |  |  | 5 |  |  | 6 |  |  | — |  |  | 11 |
Other (2) |  |  |  |  |  |  |  |  | 32 |  |  | 2 |  |  | (2) |  |  | 32 |
Revenue from product sales |  |  |  |  |  |  |  |  | 1,374 |  |  | 61 |  |  | (2) |  |  | 1,433 |
Crude oil sales |  |  |  |  |  |  |  |  | 29 |  |  | — |  |  | — |  |  | 29 |
Other revenue (2) |  |  |  |  |  |  |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Net sales |  |  |  |  |  |  |  |  | $ | 1,404 |  |  | $ | 61 |  |  | $ | (2) |  |  | $ | 1,463 |
|  |  | Three Months Ended March 31, 2020
(in millions) |  |  |  |  |  |  |  |  | Petroleum |  | Nitrogen Fertilizer |  | Other / Elimination |  | 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 |
(1)Distillates consist primarily of diesel fuel, kerosene, and jet fuel. (2)Other revenue consists primarily of feedstock, asphalt sales, and pipeline and processing fees.
Summary of deferred revenue activity | A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the three months ended March 31, 2021 is presented below:
(in millions) |
Balance at December 31, 2020 | $ | 31 |
Add: |
New prepay contracts entered into during the period (1) | 20 |
Less: |
Revenue recognized that was included in the contract liability balance at the beginning of the period | (8) |
Revenue recognized related to contracts entered into during the period | (3) |
Balance at March 31, 2021 | $ | 40 |
(1) Includes $19 million where payment associated with prepaid contracts was collected as of March 31, 2021.

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + 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=121604090&loc=SL49130551-203045 + Details
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