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Revenue | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenue | (9) Revenue The following tables provides a disaggregation of revenues from external customers for our principal products by reportable segment.
| Year Ended December 31,
(in millions) | 2024 |  | 2023 |  | 2022
Petroleum Segment: |  |  |  |  |
Gasoline | $ | 3,596 |  |  | $ | 4,288 |  |  | $ | 4,830 |
Distillates (1) | 2,934 |  |  | 3,746 |  |  | 4,788 |
Other revenue | 379 |  |  | 233 |  |  | 284 |
Total Petroleum Segment revenue | 6,909 |  |  | 8,267 |  |  | 9,902 |
Renewables Segment: |  |  |  |  |
Renewable diesel | 103 |  |  | 194 |  |  | 111 |
Renewable fuel credits | 74 |  |  | 105 |  |  | 47 |
Total Renewables Segment revenue | 177 |  |  | 299 |  |  | 158 |
Nitrogen Fertilizer Segment: |  |  |  |  |
Ammonia | 130 |  |  | 161 |  |  | 200 |
UAN | 312 |  |  | 431 |  |  | 557 |
Urea products | 30 |  |  | 29 |  |  | 33 |
Other revenue (2) | 52 |  |  | 60 |  |  | 46 |
Total Nitrogen Fertilizer Segment revenue | 524 |  |  | 681 |  |  | 836 |
Total revenue | $ | 7,610 |  |  | $ | 9,247 |  |  | $ | 10,896 |
(1)Distillates consist primarily of diesel fuel, kerosene, and jet fuel. (2)Includes sales made 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 through April 2030. Revenue from the CO Contract is recognized over time based on carbon oxide volumes measured at delivery. 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 December 31, 2024, these contracts have a remaining duration of one year. As of December 31, 2024, the Nitrogen Fertilizer Segment had approximately $8 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Nitrogen Fertilizer Segment expects to recognize $4 million of these performance obligations as revenue by the end of 2025, an additional $3 million in 2026, and the remaining balance thereafter. Contract Balances A summary of the Nitrogen Fertilizer Segment’s deferred revenue activity during the year ended December 31, 2024 is presented below (in millions):
Contract Balance Type |  | Balance Sheet Location |  | December 31, 2024 |  | December 31, 2023
Deferred revenue |  | Other current liabilities |  | $ | 51 |  |  | $ | 16 |
Long-term deferred revenue |  | Other long-term liabilities |  | 27 |  |  | 33 |
During the years ended December 31, 2024 and 2023, the Company recognized revenue of $16 million and $46 million, respectively, that was included in the deferred revenue balances as of December 31, 2023 and December 31, 2022, respectively. Major Customers Petroleum Segment - The Petroleum Segment had one customer that accounted for 10% or more of the petroleum net sales at approximately 13% for the year ended December 31, 2024 and had two customers that accounted for 10% or more of the petroleum net sales at approximately 15% and 12% for the year ended December 31, 2023 and 15% and 10% for the year ended December 31, 2022. Renewables Segment - The Renewables Segment has two customers that each account for approximately 50% of the renewable net sales for the years ended December 31, 2024, 2023 and 2022. Nitrogen Fertilizer Segment - The Nitrogen Fertilizer Segment had one customer that accounted for 10% or more of the nitrogen fertilizer net sales at approximately 14% for the year ended December 31, 2024 and had two customers that accounted for 10% or more of the nitrogen fertilizer net sales at approximately 13% and 12% for the year ended December 31, 2023 and 16% and 14% for the year ended December 31, 2022.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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