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Business Segments (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summary of operating results, capital expenditures, and total asset information by segment

The following tables summarize operating results, capital expenditures, and total asset information by segment:

			Year Ended December 31,
(in millions)			2021						2020						2019
Net sales:
Petroleum			$	6,721					$	3,586					$	5,968
Nitrogen Fertilizer			533						350						404
Other			(12)						(6)						(8)
Total net sales			$	7,242					$	3,930					$	6,364
Operating income (loss):
Petroleum			$	(27)					$	(281)					$	574
Nitrogen Fertilizer			134						(35)						27
Other			(20)						(17)						(21)
Total operating income (loss)			87						(333)						580
Interest expense, net			(117)						(130)						(102)
Investment income from marketable securities			81						41						—
Other income, net			15						7						13
Income (loss) before income tax expense			$	66					$	(415)					$	491
Depreciation and amortization:
Petroleum			$	203					$	202					$	202
Nitrogen Fertilizer			73						76						80
Other (2)			3						—						5
Total depreciation and amortization			$	279					$	278					$	287
Capital expenditures: (1)
Petroleum			$	50					$	90					$	89
Nitrogen fertilizer			26						16						20
Other (2)			150						15						5
Total capital expenditures			$	226					$	121					$	114

The following table summarizes total assets by segment:

			December 31,
(in millions)			2021						2020
Petroleum			$	3,368					$	2,991
Nitrogen Fertilizer			1,127						1,033
Other, including intersegment eliminations			(589)						(46)
Total assets			$	3,906					$	3,978

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

(2)Other includes expenses related to and 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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