XML 82 R36.htm IDEA: XBRL DOCUMENT v3.25.1

Business Segments (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Operating Results and Capital Expenditures Information by Segment

The following tables present the operating results and capital expenditures information by segment, the reconciliations to the consolidated net profit (loss), and other required disclosures:

			Three Months Ended March 31, 2025
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	1,475					$	28					$	143					$	—					$	1,646
Inter-segment fees and sales			2						38						—						(40)						—
Net sales			1,477						66						143						(40)						1,646
Less:
Cost of materials and other			1,482						50						28						(43)						1,517
Direct operating expenses (exclusive of depreciation and amortization)			93						6						54						1						154
Selling, general and administrative expenses (exclusive of depreciation and amortization)			21						4						8						4						37
Depreciation and amortization			41						6						18						3						68
Loss on asset disposals			1						—						—						—						1
Segment operating (loss) income			$	(161)					$	—					$	35					$	(5)					$	(131)
Reconciliation of Segment operating (loss) income to Net loss:
Interest expense, net																											$	(25)
Other income, net																											2
Income tax benefit																											49
Net loss																											$	(105)
Other segment disclosures:
Interest income			$	7					$	—					$	1					$	2					$	10
Interest expense			(7)						—						(9)						(19)						(35)
Capital expenditures (1)			49						—						6						—						55

			Three Months Ended March 31, 2024
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	1,718					$	17					$	128					$	—					$	1,863
Inter-segment fees and sales			4						16						—						(20)						—
Net sales			1,722						33						128						(20)						1,863
Less:
Cost of materials and other			1,432						29						25						(23)						1,463
Direct operating expenses (exclusive of depreciation and amortization)			103						5						56						—						164
Selling, general and administrative expenses (exclusive of depreciation and amortization)			20						3						8						5						36
Depreciation and amortization			48						6						19						3						76
Loss on asset disposals			1						—						—						—						1
Segment operating income (loss)			$	118					$	(10)					$	20					$	(5)					$	123
Reconciliation of Segment operating income (loss) to Net income:
Interest expense, net																											$	(20)
Other income, net																											4
Income tax expense																											(17)
Net income																											$	90
Other segment disclosures:
Interest income			$	5					$	—					$	—					$	8					$	13
Interest expense			(1)						—						(8)						(24)						(33)
Capital expenditures (1)			36						8						5						2						51

The following table summarizes the reconciliation of total assets by segment to consolidated total assets:

(in millions)			March 31, 2025						December 31, 2024
Petroleum			$	3,297					$	3,288
Renewables			422						420
Nitrogen Fertilizer			1,014						1,019
Other, including intersegment eliminations			(482)						(464)
Total assets			$	4,251					$	4,263

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

X

- 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

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration