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Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Operating Results and Capital Expenditures Information by Segment

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

			Year Ended December 31, 2023
(in millions)			Petroleum Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Net sales			$	8,267					$	681					$	299					$	9,247
Inter-segment fees and sales			20						—						(20)						—
Total sales			8,287						681						279						9,247
Operating income (loss)			$	982					$	201					$	(60)					$	1,123
Interest income (expense)			75						(29)						(98)						(52)
Other income, net																					14
Income before income tax expense																					$	1,085
Depreciation and amortization			$	189					$	80					$	29					$	298
Capital expenditures (1)			108						29						60						197

			Year Ended December 31, 2022
(in millions)			Petroleum Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Net sales			$	9,902					$	836					$	158					$	10,896
Inter-segment fees and sales			17						—						(17)						—
Total sales			9,919						836						141						10,896
Operating income (loss)			$	719					$	320					$	(76)					$	963
Interest income (expense)			41						(34)						(92)						(85)
Other expense, net																					(77)
Income before income tax expense																					$	801
Depreciation and amortization			$	187					$	82					$	19					$	288
Capital expenditures (1)			86						41						76						203

			Year Ended December 31, 2021
(in millions)			Petroleum Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Net sales			$	6,710					$	533					$	(1)					$	7,242
Inter-segment fees and sales			11						—						(11)						—
Total sales			6,721						533						(12)						7,242
Operating (loss) income			$	(27)					$	134					$	(20)					$	87
Interest income (expense)			21						(61)						(77)						(117)
Investment income on marketable securities																					81
Other income, net																					15
Income before income tax benefit																					$	66
Depreciation and amortization			$	203					$	73					$	3					$	279
Capital expenditures (1)			50						26						150						226

The following table summarizes total assets by segment:

			December 31,
(in millions)			2023						2022
Petroleum			$	2,978					$	4,354
Nitrogen Fertilizer			975						1,100
Other, including inter-segment eliminations (2)			754						(1,335)
Total assets			$	4,707					$	4,119

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

(2)Other includes amounts for the Wynnewood renewable diesel unit project and renewable feedstock pretreater 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
-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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