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Business Segments (Tables)

9 Months Ended

Sep. 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 September 30,												Nine Months Ended September 30,
(in millions)			2021						2020						2021						2020
Net sales
Petroleum			$	1,742					$	927					$	4,793					$	2,556
Nitrogen Fertilizer			145						79						344						260
Other, including intersegment eliminations			(4)						(1)						(8)						(5)
Total			$	1,883					$	1,005					$	5,129					$	2,811
Operating income (loss)
Petroleum			$	135					$	(39)					$	(1)					$	(161)
Nitrogen Fertilizer			46						(3)						63						(34)
Other, including intersegment eliminations			(6)						(4)						(16)						(11)
Total			175						(46)						46						(206)
Interest expense, net			(23)						(31)						(92)						(98)
Investment (loss) income on marketable securities			(1)						(65)						82						(13)
Other income, net			2						3						12						3
Income (loss) before income tax expense			$	153					$	(139)					$	48					$	(314)
Depreciation and amortization
Petroleum			$	50					$	51					$	152					$	150
Nitrogen Fertilizer			18						18						53						57
Other			(1)						—						—						1
Total			$	67					$	69					$	205					$	208
Capital expenditures (1)
Petroleum			$	12					$	17					$	31					$	80
Nitrogen Fertilizer			7						5						14						13
Other (2)			19						1						144						3
Total			$	38					$	23					$	189					$	96

The following table summarizes total assets by segment:

(in millions)			September 30, 2021						December 31, 2020
Petroleum			$	3,365					$	2,991
Nitrogen Fertilizer			1,068						1,033
Other, including intersegment eliminations			(561)						(46)
Total Assets			$	3,872					$	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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