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Business Segments (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024
(in millions)			Petroleum Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Net sales			$	1,718					$	128					$	17					$	1,863
Inter-segment fees and sales			4						—						(4)						—
Total net sales			1,722						128						13						1,863
Operating income (loss)			$	118					$	20					$	(15)					$	123
Interest income (expense)																					(20)
Other income, net																					4
Income before income tax expense																					$	107
Depreciation and amortization			$	48					$	19					$	9					$	76
Capital expenditures (1)			36						5						10						51

			Three Months Ended March 31, 2023
(in millions)			Petroleum Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Net sales			$	1,987					$	226					$	73					$	2,286
Inter-segment fees and sales			6						—						(6)						—
Total net sales			1,993						226						67						2,286
Operating income (loss)			$	237					$	109					$	(16)					$	330
Interest income (expense)																					(18)
Other income, net																					3
Income before income tax expense																					$	315
Depreciation and amortization			$	46					$	15					$	7					$	68
Capital expenditures (1)			42						4						13						59

The following table summarizes total assets by segment:

(in millions)			March 31, 2024						December 31, 2023
Petroleum			$	2,986					$	2,978
Nitrogen Fertilizer			972						975
Other, including intersegment eliminations			135						754
Total assets			$	4,093					$	4,707

(1)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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