XML 108 R36.htm IDEA: XBRL DOCUMENT v3.25.2

Business Segments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2025
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	1,558					$	35					$	168					$	—					$	1,761
Inter-segment fees and sales			3						41						1						(45)						—
Net sales			1,561						76						169						(45)						1,761
Less:
Cost of materials and other			1,526						71						33						(48)						1,582
Direct operating expenses (exclusive of depreciation and amortization)			102						7						60						—						169
Selling, general and administrative expenses (exclusive of depreciation and amortization)			20						3						8						5						36
Depreciation and amortization			48						6						21						3						78
(Gain) loss on asset disposals			(2)						—						1						—						(1)
Operating (loss) income			$	(133)					$	(11)					$	46					$	(5)					$	(103)
Reconciliation of Operating (loss) income to Net loss:
Interest expense, net																											$	(30)
Other income, net																											1
Income tax benefit																											42
Net loss																											$	(90)
Other segment disclosures:
Interest income			$	4					$	—					$	1					$	2					$	7
Interest expense			(9)						—						(9)						(19)						(37)
Capital expenditures (1)			23						2						10						1						36

			Three Months Ended June 30, 2024
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	1,792					$	42					$	133					$	—					$	1,967
Inter-segment fees and sales			3						21						—						(24)						—
Net sales			1,795						63						133						(24)						1,967
Less:
Cost of materials and other			1,610						58						26						(27)						1,667
Direct operating expenses (exclusive of depreciation and amortization)			118						8						47						—						173
Selling, general and administrative expenses (exclusive of depreciation and amortization)			14						2						6						6						28
Depreciation and amortization			43						6						20						3						72
Loss on asset disposals			—						—						—						—						—
Operating income (loss)			$	10					$	(11)					$	34					$	(6)					$	27
Reconciliation of Operating income (loss) to Net income:
Interest expense, net																											$	(19)
Other income, net																											4
Income tax benefit																											26
Net income																											$	38
Other segment disclosures:
Interest income			$	5					$	—					$	—					$	3					$	8
Interest expense			—						—						(8)						(19)						(27)
Capital expenditures (1)			33						2						5						1						41

			Six Months Ended June 30, 2025
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	3,033					$	64					$	310					$	—					$	3,407
Inter-segment fees and sales			5						78						1						(84)						—
Net sales			3,038						142						311						(84)						3,407
Less:
Cost of materials and other			3,008						121						60						(90)						3,099
Direct operating expenses (exclusive of depreciation and amortization)			193						14						115						2						324
Selling, general and administrative expenses (exclusive of depreciation and amortization)			42						6						16						9						73
Depreciation and amortization			90						12						39						5						146
Loss on asset disposals			—						—						—						—						—
Operating (loss) income			$	(295)					$	(11)					$	81					$	(10)					$	(235)
Reconciliation of Operating (loss) income to Net loss:
Interest expense, net																											$	(55)
Other income, net																											4
Income tax benefit																											91
Net loss																											$	(195)
Other segment disclosures:
Interest income			$	11					$	—					$	3					$	2					$	16
Interest expense			(16)						—						(18)						(37)						(71)
Capital expenditures (1)			72						2						16						2						92

			Six Months Ended June 30, 2024
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	3,510					$	58					$	261					$	—					$	3,829
Inter-segment fees and sales			7						39						—						(46)						—
Net sales			3,517						97						261						(46)						3,829
Less:
Cost of materials and other			3,041						88						51						(50)						3,130
Direct operating expenses (exclusive of depreciation and amortization)			221						13						103						—						337
Selling, general and administrative expenses (exclusive of depreciation and amortization)			34						5						14						10						63
Depreciation and amortization			92						12						39						6						149
Loss on asset disposals			1						—						—						—						1
Operating income (loss)			$	128					$	(21)					$	54					$	(12)					$	149
Reconciliation of Operating income (loss) to Net income:
Interest expense, net																											$	(39)
Other income, net																											8
Income tax benefit																											10
Net income																											$	128
Other segment disclosures:
Interest income			$	11					$	1					$	2					$	7					$	21
Interest expense			(1)						—						(17)						(42)						(60)
Capital expenditures (1)			69						10						10						3						92

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

(in millions)			June 30, 2025						December 31, 2024
Petroleum			$	3,011					$	3,288
Renewables			414						420
Nitrogen Fertilizer			998						1,019
Other, including inter-segment eliminations			(439)						(464)
Total assets			$	3,984					$	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