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Revenue
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue
(8) Revenue
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
September 30,
Nine Months Ended
September 30,
(in millions)2025202420252024
Petroleum Segment:
Gasoline$856 $882 $2,283 $2,713 
Distillates (1)
794 698 1,984 2,200 
Crude oil sales29 26 361 111 
Other revenue57 39 141 131 
Total Petroleum Segment revenue
1,736 1,645 4,769 5,155 
Renewables Segment:
Renewable diesel39 37 92 73 
Renewable fuel credits5 27 17 50 
Total Renewables Segment revenue
44 64 109 123 
Nitrogen Fertilizer Segment:
Ammonia25 25 93 84 
UAN114 77 310 241 
Urea Products10 29 22 
Other revenue15 14 42 38 
Total Nitrogen Fertilizer Segment revenue
164 124 474 385 
Total revenue$1,944 $1,833 $5,352 $5,663 
(1)Distillates consist primarily of diesel fuel, kerosene, and jet fuel.
Remaining Performance Obligations
The Company has spot and term contracts with customers and the transaction prices are either fixed or based on market indices (variable consideration). The Company does 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 September 30, 2025, these contracts have a remaining duration of less than one year.
As of September 30, 2025, the Nitrogen Fertilizer Segment had approximately $5 million of remaining performance obligations for contracts with an original expected duration of more than one year. The Nitrogen Fertilizer Segment expects to recognize $2 million of these performance obligations as revenue by the end of 2025, $3 million during 2026, and the remaining balance in 2027.
Contract Balances
The following table provides the balance sheet location and amounts of deferred revenue from contracts with customers for the Nitrogen Fertilizer Segment:
Contract Balance TypeBalance Sheet LocationSeptember 30, 2025December 31, 2024
Deferred revenueOther current liabilities$36 $51 
Long-term deferred revenueOther long-term liabilities22 27 
During the nine months ended September 30, 2025 and 2024, the Company recognized revenue of $49 million and $14 million, respectively, that was included in the deferred revenue balances as of December 31, 2024 and December 31, 2023, respectively.