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Business Segments (Tables)

6 Months Ended

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

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- References

No definition available.

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