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v3.23.2

Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of 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) | 2023 |  | 2022 |  | 2023 |  | 2022
Net sales: |  |  |  |  |  |  |
Petroleum | $ | 2,000 |  |  | $ | 2,868 |  |  | $ | 3,993 |  |  | $ | 5,022 |
Nitrogen Fertilizer | 183 |  |  | 244 |  |  | 409 |  |  | 467 |
Other, including intersegment eliminations | 53 |  |  | 32 |  |  | 121 |  |  | 28 |
Total net sales | $ | 2,236 |  |  | $ | 3,144 |  |  | $ | 4,523 |  |  | $ | 5,517 |
Operating income (loss): |  |  |  |  |  |  |
Petroleum | $ | 171 |  |  | $ | 297 |  |  | $ | 408 |  |  | $ | 427 |
Nitrogen Fertilizer | 67 |  |  | 126 |  |  | 176 |  |  | 230 |
Other, including intersegment eliminations | (14) |  |  | (21) |  |  | (30) |  |  | (34) |
Total operating income (loss) | 224 |  |  | 402 |  |  | 554 |  |  | 623 |
Interest expense, net | (16) |  |  | (23) |  |  | (32) |  |  | (48) |
Other income (expense), net | 4 |  |  | (74) |  |  | 6 |  |  | (84) |
Income before income tax expense | $ | 212 |  |  | $ | 305 |  |  | $ | 528 |  |  | $ | 491 |
Depreciation and amortization: |  |  |  |  |  |  |
Petroleum | $ | 45 |  |  | $ | 46 |  |  | $ | 91 |  |  | $ | 93 |
Nitrogen Fertilizer | 20 |  |  | 21 |  |  | 35 |  |  | 42 |
Other | 7 |  |  | 6 |  |  | 15 |  |  | 5 |
Total depreciation and amortization | $ | 72 |  |  | $ | 73 |  |  | $ | 141 |  |  | $ | 140 |
Capital expenditures: (2) |  |  |  |  |  |  |
Petroleum | $ | 22 |  |  | $ | 19 |  |  | $ | 53 |  |  | $ | 38 |
Nitrogen Fertilizer | 6 |  |  | 9 |  |  | 10 |  |  | 14 |
Other (1) | 20 |  |  | 13 |  |  | 34 |  |  | 39 |
Total capital expenditures | $ | 48 |  |  | $ | 41 |  |  | $ | 97 |  |  | $ | 91 |
The following table summarizes total assets by segment:
(in millions) | June 30, 2023 |  | December 31, 2022
Petroleum | $ | 4,260 |  |  | $ | 4,354 |
Nitrogen Fertilizer | 1,019 |  |  | 1,100 |
Other, including intersegment eliminations (1) | (1,062) |  |  | (1,335) |
Total assets | $ | 4,217 |  |  | $ | 4,119 |
(1)Other includes amounts for the Wynnewood Refinery’s renewable feedstock pretreater project. (2)Capital expenditures are shown exclusive of capitalized turnaround expenditures.

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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