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Revenue
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue
(9) Revenue

The following tables present the Company’s revenue disaggregated by major product, which include a reconciliation of the disaggregated revenue by the Company’s reportable segments:
Three Months Ended June 30, 2023Six Months Ended June 30, 2023
(in millions)
Petroleum Segment (1)
Nitrogen Fertilizer Segment
Other / EliminationConsolidated
Petroleum Segment (1)
Nitrogen Fertilizer Segment
Other / EliminationConsolidated
Gasoline$1,092 $— $— $1,092 $2,102 $— $— $2,102 
Distillates (2)
830 — 35 865 1,749 — 83 1,832 
Ammonia— 56 — 56 — 94 — 94 
UAN— 104 — 104 — 268 — 268 
Other urea products— 7 — 7 — 15 — 15 
Freight revenue (3)
5 11 — 16 8 22 — 30 
Other (4)
48 5 18 71 81 10 38 129 
Revenue from product sales1,975 183 53 2,211 3,940 409 121 4,470 
Crude oil sales24 — — 24 52 — — 52 
Other revenue1 — — 1 1 — — 1 
Total revenue$2,000 $183 $53 $2,236 $3,993 $409 $121 $4,523 
Three Months Ended June 30, 2022Six Months Ended June 30, 2022
(in millions)
Petroleum Segment (1)
Nitrogen Fertilizer Segment
Other / EliminationConsolidated
Petroleum Segment (1)
Nitrogen Fertilizer Segment
Other / EliminationConsolidated
Gasoline$1,421 $— $— $1,421 $2,524 $— $— $2,524 
Distillates (2)
1,350 — 27 1,377 2,312 — 27 2,339 
Ammonia— 61 — 61 — 103 — 103 
UAN— 159 — 159 — 319 — 319 
Other urea products— 11 — 11 — 20 — 20 
Freight revenue (3)
4 10 — 14 8 19 — 27 
Other (4)
81 3 5 89 160 6 1 167 
 Revenue from product sales2,856 244 32 3,132 5,004 467 28 5,499 
Crude oil sales12 — — 12 17 — — 17 
Other revenue— — — — 1 — — 1 
Total revenue$2,868 $244 $32 $3,144 $5,022 $467 $28 $5,517 
(1)The Petroleum Segment may incur broker commissions or transportation costs prior to the transfer on certain sales. The broker costs are expensed since the contract durations are less than one year. Transportation costs are accounted for as fulfillment costs and are expensed as incurred.
(2)Distillates consist primarily of diesel fuel, kerosene, jet fuel, and renewable fuels activity.
(3)Freight revenue recognized by the Petroleum Segment is primarily tariff and line loss charges rebilled to customers to reimburse the Petroleum Segment for expenses incurred from a pipeline operator. Freight revenue recognized by the Nitrogen Fertilizer Segment represents the pass-through finished goods delivery costs incurred prior to customer acceptance and is reimbursed by customers. An offsetting expense for freight is included in Cost of materials and other.
(4)Other revenue for the Petroleum Segment consists primarily of (i) feedstock, heavy oils, and liquified petroleum gas sales, (ii) sulfur credits, and (iii) pipeline and processing fees. For the Nitrogen Fertilizer Segment, other revenue consists of sales of (i) nitric acid and (ii) carbon oxide, including sales in connection with the 45Q Transaction and the noncash consideration received, which is recognized as the performance obligation associated with the CO Contract is satisfied over its term of 7 years, 3 months. Revenue from the CO Contract is recognized over time based on carbon oxide volumes measured at delivery. The Other/Elimination columns include certain credits related to renewable fuel activity and eliminations of intercompany transactions.

Remaining Performance Obligations

We have spot and term contracts with customers and the transaction prices are either fixed or based on market indices (variable consideration). We do not disclose remaining performance obligations for contracts that have terms of one year or less and for contracts where the variable consideration was entirely allocated to an unsatisfied performance obligation. As of June 30, 2023, these contracts have a remaining duration of less than three years.

As of June 30, 2023, the Nitrogen Fertilizer Segment had approximately $2 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Nitrogen Fertilizer Segment expects to recognize the majority of these performance obligations as revenue by the end of 2023 and the remaining nominal balance during 2024.
Contract Balances

A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the six months ended June 30, 2023 is presented below:
(in millions)
Balance at December 31, 2022$48 
Add:
New prepay contracts entered into during the period10 
Noncash consideration received as part of the 45Q Transaction46 
Less:
Revenue recognized that was included in the contract liability balance at the beginning of the period(46)
Revenue recognized related to contracts entered into during the period(10)
Revenue recognized related to noncash consideration(3)
Other changes(1)
Total deferred revenue44 
Less: Current portion of deferred revenue
(7)
Total long-term deferred revenue$37