XML 86 R35.htm IDEA: XBRL DOCUMENT v3.25.3

Business Segments (Tables)

9 Months Ended

Sep. 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 September 30, 2025
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	1,736					$	44					$	164					$	—					$	1,944
Inter-segment fees and sales			3						55						—						(58)						—
Net sales			1,739						99						164						(58)						1,944
Less:
Cost of materials and other			1,031						99						25						(59)						1,096
Direct operating expenses (exclusive of depreciation and amortization)			113						9						58						(1)						179
Selling, general and administrative expenses (exclusive of depreciation and amortization)			24						4						9						5						42
Depreciation and amortization			52						36						20						3						111
Loss on asset disposals			1						2						1						—						4
Operating income (loss)			$	518					$	(51)					$	51					$	(6)					$	512
Reconciliation of Operating income (loss) to Net income:
Interest expense, net																											$	(25)
Other income, net																											2
Income tax expense																											(88)
Net income																											$	401
Other segment disclosures:
Interest income			$	4					$	—					$	1					$	2					$	7
Interest expense			(4)						—						(9)						(19)						(32)
Capital expenditures (1)			25						1						14						—						40

			Three Months Ended September 30, 2024
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	1,645					$	64					$	124					$	—					$	1,833
Inter-segment fees and sales			3						35						1						(39)						—
Net sales			1,648						99						125						(39)						1,833
Less:
Cost of materials and other			1,604						78						26						(42)						1,666
Direct operating expenses (exclusive of depreciation and amortization)			100						9						56						—						165
Selling, general and administrative expenses (exclusive of depreciation and amortization)			23						3						7						7						40
Depreciation and amortization			40						6						25						4						75
Operating (loss) income			$	(119)					$	3					$	11					$	(8)					$	(113)
Reconciliation of Operating (loss) income to Net loss:
Interest expense, net																											$	(18)
Other income, net																											3
Income tax benefit																											6
Net loss																											$	(122)
Other segment disclosures:
Interest income			$	5					$	—					$	1					$	3					$	9
Interest expense			—						—						(8)						(19)						(27)
Capital expenditures (1)			28						—						10						1						39

			Nine Months Ended September 30, 2025
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	4,769					$	109					$	474					$	—					$	5,352
Inter-segment fees and sales			8						131						1						(140)						—
Net sales			4,777						240						475						(140)						5,352
Less:
Cost of materials and other			4,039						219						86						(149)						4,195
Direct operating expenses (exclusive of depreciation and amortization)			306						23						173						1						503
Selling, general and administrative expenses (exclusive of depreciation and amortization)			65						9						24						17						115
Depreciation and amortization			142						50						59						7						258
Loss on asset disposals			1						2						1						—						4
Operating income (loss)			$	224					$	(63)					$	132					$	(16)					$	277
Reconciliation of Operating income (loss) to Net income:
Interest expense, net																											$	(79)
Other income, net																											5
Income tax benefit																											3
Net income																											$	206
Other segment disclosures:
Interest income			$	14					$	1					$	4					$	5					$	24
Interest expense			(19)						—						(27)						(57)						(103)
Capital expenditures (1)			98						3						30						1						132

			Nine Months Ended September 30, 2024
(in millions)			Petroleum Segment						Renewables Segment						Nitrogen Fertilizer Segment						Other / Eliminations						Consolidated
Third-party sales			$	5,155					$	123					$	385					$	—					$	5,663
Inter-segment fees and sales			10						73						1						(84)						—
Net sales			5,165						196						386						(84)						5,663
Less:
Cost of materials and other			4,645						165						78						(92)						4,796
Direct operating expenses (exclusive of depreciation and amortization)			320						24						158						—						502
Selling, general and administrative expenses (exclusive of depreciation and amortization)			57						7						21						18						103
Depreciation and amortization			133						18						64						9						224
Loss on asset disposals			1						—						—						—						1
Operating income (loss)			$	9					$	(18)					$	65					$	(19)					$	37
Reconciliation of Operating income (loss) to Net income:
Interest expense, net																											$	(56)
Other income, net																											10
Income tax benefit																											14
Net income																											$	5
Other segment disclosures:
Interest income			$	17					$	—					$	3					$	10					$	30
Interest expense			(1)						—						(25)						(60)						(86)
Capital expenditures (1)			97						10						19						4						130

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

(in millions)			September 30, 2025						December 31, 2024
Petroleum			$	3,001					$	3,288
Renewables			393						420
Nitrogen Fertilizer			1,037						1,019
Other, including inter-segment eliminations			(439)						(464)
Total assets			$	3,992					$	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