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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Schedule of segment reporting information

Disclosures regarding the Company’s reportable segments with reconciliations to consolidated totals for the three and six months ended June 30, 2024 and June 30, 2023 are presented below.

			Three Months Ended June 30, 2024
(in millions)			Refining						Logistics						Corporate						Eliminations						Consolidated Total
Revenues			$	8,726.6					$	98.5					$	—					$	(89.0)					$	8,736.1
Depreciation and amortization expense			145.7						9.1						3.3						—						158.1
Income (loss) from operations			(46.9)						51.0						(78.7)						—						(74.6)
Interest (income) expense, net			(2.7)						(0.4)						20.4						—						17.3
Capital expenditures			330.3						0.6						2.5						—						333.4
			Three Months Ended June 30, 2023
			Refining						Logistics						Corporate						Eliminations						Consolidated Total
Revenues			$	9,148.4					$	94.0					$	—					$	(84.8)					$	9,157.6
Depreciation and amortization expense			133.0						9.2						2.3						—						144.5
Income from operations (1)			455.6						51.9						881.7						—						1,389.2
Interest (income) expense, net			(6.9)						0.1						20.6						—						13.8
Capital expenditures (2)			362.1						2.4						2.5						—						367.0
			Six Months Ended June 30, 2024
			Refining						Logistics						Corporate						Eliminations						Consolidated Total
Revenues			$	17,363.0					$	194.6					$	—					$	(175.9)					$	17,381.7
Depreciation and amortization expense			278.0						18.2						6.5						—						302.7
Income (loss) from operations (1)			123.7						96.1						(149.3)						—						70.5
Interest (income) expense, net			(6.8)						(1.0)						35.6						—						27.8
Capital expenditures (2)			613.4						1.7						3.0						—						618.1
			Six Months Ended June 30, 2023
			Refining						Logistics						Corporate						Eliminations						Consolidated Total
Revenues			$	18,433.9					$	192.5					$	—					$	(173.8)					$	18,452.6
Depreciation and amortization expense			265.9						18.2						4.2						—						288.3
Income from operations (1)			981.3						101.6						838.7						—						1,921.6
Interest (income) expense, net			(11.0)						3.8						39.7						—						32.5
Capital expenditures (2)			741.3						5.1						3.7						—						750.1

			Balance at June 30, 2024
			Refining						Logistics						Corporate						Eliminations						Consolidated Total
Total assets (3)			$	12,295.2					$	789.3					$	1,030.4					$	(38.8)					$	14,076.1
			Balance at December 31, 2023
			Refining						Logistics						Corporate						Eliminations						Consolidated Total
Total assets (3)			$	12,590.6					$	816.8					$	1,024.1					$	(43.7)					$	14,387.8

___________________________________

(1) Income (loss) from operations within Corporate for the six months ended June 30, 2024 includes an $8.7 million reduction of the gain associated with the formation of the SBR equity method investment. Income from operations within Corporate for both the three and six months ended June 30, 2023 includes the $968.9 million gain on formation of the SBR equity method investment.

(2) For the six months ended June 30, 2024, the Company’s refining segment includes $5.6 million of capital expenditures related to the Renewable Diesel Facility. For the three and six months ended June 30, 2023, the Company’s refining segment included $107.4 million and $265.3 million, respectively, of capital expenditures related to the Renewable Diesel Facility.

(3) As of June 30, 2024 and December 31, 2023, Corporate assets include the Company’s Equity method investment in SBR of $867.3 million and $881.0 million, respectively.

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- 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 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: 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 3: 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 4: 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

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No definition available.

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