v3.25.4

SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment |
| Year Ended December 31, 2025
(in millions) | Refining |  | Logistics |  | Corporate |  | Eliminations |  | Consolidated Total
Revenues | $ | 29,297.7 |  |  | $ | 383.5 |  |  | $ | — |  |  | $ | (348.9) |  |  | $ | 29,332.3 |
Cost of products and other | 26,950.2 |  |  | 8.3 |  |  | — |  |  | (331.5) |  |  | 26,627.0 |
Operating expenses (income) | 2,547.0 |  |  | 116.5 |  |  | — |  |  | (17.5) |  |  | 2,646.0 |
Depreciation and amortization expense | 594.2 |  |  | 36.1 |  |  | 14.4 |  |  | — |  |  | 644.7 |
Other segment (income) expenses, net (1) | (831.4) |  |  | (86.9) |  |  | 387.2 |  |  | — |  |  | (531.1) |
Income (loss) from operations | 37.6 |  |  | 309.6 |  |  | (401.5) |  |  | — |  |  | (54.3) |
Interest (income) expense, net | (27.7) |  |  | (1.6) |  |  | 210.9 |  |  | — |  |  | 181.6 |
Capital expenditures (3) | 598.1 |  |  | 17.0 |  |  | 13.8 |  |  | — |  |  | 628.9 |
| Year Ended December 31, 2024
| Refining |  | Logistics |  | Corporate |  | Eliminations |  | Consolidated Total
Revenues | $ | 33,077.9 |  |  | $ | 386.8 |  |  | $ | — |  |  | $ | (349.4) |  |  | $ | 33,115.3 |
Cost of products and other | 30,590.4 |  |  | 8.3 |  |  | — |  |  | (332.0) |  |  | 30,266.7 |
Operating expenses (income) | 2,487.8 |  |  | 135.8 |  |  | — |  |  | (17.4) |  |  | 2,606.2 |
Depreciation and amortization expense | 578.4 |  |  | 36.2 |  |  | 13.2 |  |  | — |  |  | 627.8 |
Other segment expenses, net (1) (2) | 0.9 |  |  | 7.3 |  |  | 305.4 |  |  | — |  |  | 313.6 |
Income (loss) from operations (2) | (579.5) |  |  | 199.1 |  |  | (318.6) |  |  | — |  |  | (699.0) |
Interest (income) expense, net | (14.1) |  |  | (1.9) |  |  | 88.0 |  |  | — |  |  | 72.0 |
Capital expenditures (3) | 994.8 |  |  | 6.5 |  |  | 7.0 |  |  | — |  |  | 1,008.3 |
| Year Ended December 31, 2023
| Refining |  | Logistics |  | Corporate |  | Eliminations |  | Consolidated Total
Revenues | $ | 38,288.5 |  |  | $ | 384.1 |  |  | $ | — |  |  | $ | (347.8) |  |  | $ | 38,324.8 |
Cost of products and other | 33,000.8 |  |  | — |  |  | — |  |  | (329.5) |  |  | 32,671.3 |
Operating expenses (income) | 2,581.3 |  |  | 131.9 |  |  | — |  |  | (18.3) |  |  | 2,694.9 |
Depreciation and amortization expense | 523.9 |  |  | 36.1 |  |  | 11.5 |  |  | — |  |  | 571.5 |
Other segment (income) expenses, net (1) (2) | (1.1) |  |  | 10.0 |  |  | (573.3) |  |  | — |  |  | (564.4) |
Income from operations (2) | 2,183.6 |  |  | 206.1 |  |  | 561.8 |  |  | — |  |  | 2,951.5 |
Interest (income) expense, net | (4.8) |  |  | 2.3 |  |  | 66.3 |  |  | — |  |  | 63.8 |
Capital expenditures (3) | 1,152.9 |  |  | 11.9 |  |  | 8.8 |  |  | — |  |  | 1,173.6 |
| Balance at December 31, 2025
| Refining |  | Logistics |  | Corporate |  | Eliminations |  | Consolidated Total
Total assets (4) | $ | 11,469.1 |  |  | $ | 683.4 |  |  | $ | 906.3 |  |  | $ | (38.9) |  |  | $ | 13,019.9 |
| Balance at December 31, 2024
| Refining |  | Logistics |  | Corporate |  | Eliminations |  | Consolidated Total
Total assets (4) | $ | 10,945.5 |  |  | $ | 781.9 |  |  | $ | 1,015.4 |  |  | $ | (39.6) |  |  | $ | 12,703.2 |
(1) Other segment (income) expenses, net include General and administrative expenses (excluding depreciation and amortization expenses), Gain on insurance recoveries, net, Change in fair value of contingent consideration, net, Equity loss in investee, Loss (gain) on formation of SBR equity method investment, and (Gain) loss on sale of assets. (2) Income (loss) from operations and Other segment (income) expenses, net within Corporate for the year ended December 31, 2024, included a $8.7 million reduction of the gain associated with the formation of the SBR equity method investment. (3) For the year ended December 31, 2025, the Company’s refining segment Capital expenditures exclude $532.9 million of costs associated with the rebuild of units damaged by the Martinez refinery fire. For the years ended December 31, 2024 and December 31, 2023, the Company’s refining segment includes $5.6 million and $312.7 million, respectively, of capital expenditures related to the Renewable Diesel Facility. (4) As of December 31, 2025 and December 31, 2024, Corporate assets include the Company’s Equity method investment in SBR of $826.3 million and $866.8 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 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
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