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Long-Term Assets | 9 Months Ended
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Sep. 30, 2025
Property, Plant and Equipment [Abstract] |
Long-Term Assets | (4) Long-Term Assets Property, Plant, and Equipment Property, plant, and equipment, net consisted of the following:
(in millions) | September 30, 2025 |  | December 31, 2024
Machinery and equipment | $ | 4,458 |  |  | $ | 4,403 |
Buildings and improvements | 153 |  |  | 148 |
ROU finance leases | 122 |  |  | 106 |
Land and improvements | 75 |  |  | 74 |
Furniture and fixtures | 29 |  |  | 32 |
Construction in progress | 179 |  |  | 171 |
Other | 16 |  |  | 16 |
| 5,032 |  |  | 4,950 |
Less: Accumulated depreciation and amortization | (2,926) |  |  | (2,774) |
Total property, plant, and equipment, net | $ | 2,106 |  |  | $ | 2,176 |
For the three and nine months ended September 30, 2025, depreciation and amortization expense related to property, plant, and equipment was $89 million and $203 million, respectively, compared to $63 million and $177 million for the three and nine months ended September 30, 2024, respectively. For the three and nine months ended September 30, 2025, capitalized interest was $2 million and $7 million, respectively, compared to $2 million and $5 million for the three and nine months ended September 30, 2024, respectively. During the third quarter of 2025, the Company resolved to revert the RDU at the Wynnewood Refinery back to hydrocarbon processing service at the next scheduled catalyst change in December 2025, considering the unfavorable economics of the renewables business and to optimize feedstock and relieve certain logistical constraints within the refining business. While the Company expects to maintain the option to switch back to renewable diesel service if incentivized to do so, the following impacts were recorded in our Renewables Segment during the third quarter of 2025: •The Company assessed the Petroleum and Renewables asset group for impairment in accordance with ASC 360-10 and concluded the carrying value of the asset group was recoverable. However, the remaining useful lives of certain assets within the Renewables Segment were adjusted as a result of changes in their expected utilization beginning in September 2025. As of September 30, 2025, approximately $93 million carrying value of the impacted property, plant and equipment will be fully depreciated through November 2025. Depreciation expense related to the Renewables Segment for the three and nine months ended September 30, 2025, was $36 million and $48 million, respectively, including $31 million of accelerated depreciation for the three months ended September 30, 2025, compared to $6 million and $17 million for the three and nine months ended September 30, 2024, respectively. •The Company reviewed its ongoing capital projects and determined that certain Construction in progress assets relate to projects the Company no longer plans to complete or utilize in current or future operations. As a result, the Company recognized in Loss on asset disposals and project write-offs a charge of approximately $3 million to write-off these capitalized costs during the three months ended September 30, 2025. All other projects under construction were determined to remain realizable for current or future operations. Other Long-Term Assets As of September 30, 2025 and December 31, 2024, Other long-term assets included turnaround assets, net of accumulated amortization of $264 million and $124 million, respectively. For the three and nine months ended September 30, 2025, depreciation expense related to turnaround assets was $1 million and $2 million, respectively, compared to less than $1 million for both the three and nine months ended September 30, 2024.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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