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Business Segments (Tables)

9 Months Ended

Sep. 30, 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 September 30,
			2024																								2023
(in millions)			Petroleum Segment						Nitrogen Fertilizer Segment						Other / Elimination						Consolidated						Petroleum Segment						Nitrogen Fertilizer Segment						Other / Elimination						Consolidated
Net sales			$	1,645					$	124					$	64					$	1,833					$	2,293					$	131					$	99					$	2,522
Inter-segment fees and sales			3						1						(4)						—						5						—						(5)						—
Total sales			1,648						125						60						1,833						2,298						131						93						2,522
Operating (loss) income			$	(119)					$	11					$	(5)					$	(113)					$	431					$	8					$	6					$	445
Interest expense, net																					(18)																								(11)
Other income, net																					3																								4
(Loss) income before income tax expense																					$	(128)																							$	438
Depreciation and amortization			$	40					$	25					$	10					$	75					$	50					$	23					$	8					$	81
Capital expenditures (1)			28						10						1						39						26						8						17						51

			Nine Months Ended September 30,
			2024																								2023
(in millions)			Petroleum Segment						Nitrogen Fertilizer Segment						Other / Elimination						Consolidated						Petroleum Segment						Nitrogen Fertilizer Segment						Other / Elimination						Consolidated
Net sales			$	5,155					$	385					$	123					$	5,663					$	6,273					$	540					$	232					$	7,045
Inter-segment fees and sales			10						1						(11)						—						17						—						(17)						—
Total net sales			5,165						386						112						5,663						6,290						540						215						7,045
Operating income (loss)			$	9					$	65					$	(37)					$	37					$	838					$	184					$	(22)					$	1,000
Interest expense, net																					(56)																								(44)
Other income, net																					10																								10
(Loss) income before income tax expense																					$	(9)																							$	966
Depreciation and amortization			$	133					$	64					$	27					$	224					$	141					$	59					$	21					$	221
Capital expenditures (1)			97						19						14						130						79						18						51						148

The following table summarizes total assets by segment:

(in millions)			September 30, 2024						December 31, 2023
Petroleum			$	2,804					$	2,978
Nitrogen Fertilizer			987						975
Other, including intersegment eliminations			87						754
Total assets			$	3,878					$	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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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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X

- References

No definition available.

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