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Business Segments (Tables)

6 Months Ended

Jun. 30, 2021

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)			2021						2020						2021						2020
Net sales
Petroleum			$	1,648					$	572					$	3,052					$	1,629
Nitrogen Fertilizer			138						105						199						180
Other, including intersegment eliminations			(3)						(2)						(5)						(3)
Total			$	1,783					$	675					$	3,246					$	1,806
Operating (loss) income
Petroleum			$	(20)					$	5					$	(136)					$	(122)
Nitrogen Fertilizer			30						(26)						16						(31)
Other, including intersegment eliminations			(4)						(5)						(9)						(7)
Total			6						(26)						(129)						(160)
Interest expense, net			(38)						(31)						(69)						(67)
Investment income on marketable securities			21						21						83						52
Other income, net			3						(1)						10						—
Loss before income tax benefit			$	(8)					$	(37)					$	(105)					$	(175)
Depreciation and amortization
Petroleum			$	51					$	50					$	102					$	99
Nitrogen Fertilizer			21						24						35						39
Other			—						—						1						—
Total			$	72					$	74					$	138					$	138
Capital expenditures (1)
Petroleum			$	9					$	22					$	19					$	63
Nitrogen Fertilizer			4						3						7						8
Other (2)			70						1						125						2
Total			$	83					$	26					$	151					$	73

The following table summarizes total assets by segment:

(in millions)			June 30, 2021						December 31, 2020
Petroleum			$	3,317					$	2,991
Nitrogen Fertilizer			1,019						1,033
Other, including intersegment eliminations			(538)						(46)
Total Assets			$	3,798					$	3,978

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

(2)Other includes amounts incurred for the Wynnewood renewable diesel unit project.

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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=123359005&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=123359005&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=123359005&loc=d3e8906-108599

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- References

No definition available.

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