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Revenue (Tables)

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Revenue Disaggregated by Major Product

The following table presents the Company’s revenue disaggregated by major product, which include a reconciliation of the disaggregated revenue by the Company’s reportable segments:

			Three Months Ended March 31,
(in millions)			2025						2024
Petroleum Segment:
Gasoline			$	654					$	888
Distillates (1)			541						767
Crude oil sales			245						13
Other revenue			35						50
Total Petroleum Segment revenue			1,475						1,718
Renewables Segment:
Renewable diesel			24						10
Renewable fuel credits			4						7
Total Renewables Segment revenue			28						17
Nitrogen Fertilizer Segment:
Ammonia			33						37
UAN			86						76
Urea Products			9						5
Other revenue (2)			15						10
Total Nitrogen Fertilizer Segment revenue			143						128
Total revenue			$	1,646					$	1,863

(1)Distillates consist primarily of diesel fuel, kerosene, and jet fuel.

(2)Consists mainly of freight revenue and includes sales of carbon oxide (“CO”) made in connection with the joint venture created to monetize certain tax credits under Section 45Q of the Internal Revenue Code of 1986 (“45Q Transaction”) and the noncash consideration received, which is recognized as the performance obligation associated with the carbon oxide contract (“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.

Schedule of Deferred Revenue from Contracts with Customers

The following table provides the balance sheet location and amounts of deferred revenue from contracts with customers for the Nitrogen Fertilizer Segment:

Contract Balance Type						Balance Sheet Location						March 31, 2025						December 31, 2024
Deferred revenue						Other current liabilities						$	37					$	51
Long-term deferred revenue						Other long-term liabilities						25						27

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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- References

No definition available.

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