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v3.20.2

Segment Information | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Segment Information | Segment Information We report the results for the following four reportable segments: (i) Refining, (ii) Retail, (iii) Logistics, and (iv) Corporate and Other. Summarized financial information concerning reportable segments consists of the following (in thousands):
Three Months Ended June 30, 2020 |  | Refining |  | Logistics |  | Retail |  | Corporate, Eliminations and Other (1) |  | Total
Revenues |  | $ | 455,301 |  |  | $ | 42,132 |  |  | $ | 79,621 |  |  | $ | (61,753 | ) |  | $ | 515,301 |
Cost of revenues (excluding depreciation) |  | 429,967 |  |  | 27,680 |  |  | 45,382 |  |  | (61,751 | ) |  | 441,278 |
Operating expense (excluding depreciation) |  | 49,385 |  |  | 2,247 |  |  | 15,395 |  |  | — |  |  | 67,027 |
Depreciation, depletion, and amortization |  | 12,706 |  |  | 5,902 |  |  | 2,664 |  |  | 856 |  |  | 22,128 |
General and administrative expense (excluding depreciation) |  | — |  |  | — |  |  | — |  |  | 10,221 |  |  | 10,221 |
Acquisition and integration costs |  | — |  |  | — |  |  | — |  |  | 90 |  |  | 90 |
Operating income (loss) |  | $ | (36,757 | ) |  | $ | 6,303 |  |  | $ | 16,180 |  |  | $ | (11,169 | ) |  | $ | (25,443 | )
Interest expense and financing costs, net |  |  |  |  |  |  |  |  |  | (16,414 | )
Other income, net |  |  |  |  |  |  |  |  |  | 455 |
Equity losses from Laramie Energy, LLC |  |  |  |  |  |  |  |  |  | (1,874 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  | (43,276 | )
Income tax benefit |  |  |  |  |  |  |  |  |  | 2,716 |
Net loss |  |  |  |  |  |  |  |  |  | $ | (40,560 | )
Capital expenditures |  | $ | 11,165 |  |  | $ | 2,972 |  |  | $ | 527 |  |  | $ | 553 |  |  | $ | 15,217 |
Three Months Ended June 30, 2019 |  | Refining |  | Logistics |  | Retail |  | Corporate, Eliminations and Other (1) |  | Total
Revenues |  | $ | 1,347,557 |  |  | $ | 50,146 |  |  | $ | 120,749 |  |  | $ | (109,043 | ) |  | $ | 1,409,409 |
Cost of revenues (excluding depreciation) |  | 1,244,366 |  |  | 26,758 |  |  | 89,782 |  |  | (109,064 | ) |  | 1,251,842 |
Operating expense (excluding depreciation) |  | 55,393 |  |  | 3,028 |  |  | 16,409 |  |  | — |  |  | 74,830 |
Depreciation, depletion, and amortization |  | 14,613 |  |  | 3,989 |  |  | 2,532 |  |  | 785 |  |  | 21,919 |
General and administrative expense (excluding depreciation) |  | — |  |  | — |  |  | — |  |  | 11,379 |  |  | 11,379 |
Acquisition and integration costs |  | — |  |  | — |  |  | — |  |  | 818 |  |  | 818 |
Operating income (loss) |  | $ | 33,185 |  |  | $ | 16,371 |  |  | $ | 12,026 |  |  | $ | (12,961 | ) |  | $ | 48,621 |
Interest expense and financing costs, net |  |  |  |  |  |  |  |  |  | (20,278 | )
Debt extinguishment and commitment costs |  |  |  |  |  |  |  |  |  | (3,690 | )
Other income, net |  |  |  |  |  |  |  |  |  | 2,177 |
Change in value of common stock warrants |  |  |  |  |  |  |  |  |  | (957 | )
Equity earnings from Laramie Energy, LLC |  |  |  |  |  |  |  |  |  | 491 |
Income before income taxes |  |  |  |  |  |  |  |  |  | 26,364 |
Income tax benefit |  |  |  |  |  |  |  |  |  | 1,805 |
Net income |  |  |  |  |  |  |  |  |  | $ | 28,169 |
Capital expenditures |  | $ | 9,437 |  |  | $ | 11,945 |  |  | $ | 1,798 |  |  | $ | 360 |  |  | $ | 23,540 |
________________________________________________________ (1) Includes eliminations of intersegment revenues and cost of revenues of $61.8 million and $109.0 million for the three months ended June 30, 2020 and 2019, respectively.
Six Months Ended June 30, 2020 |  | Refining |  | Logistics |  | Retail |  | Corporate, Eliminations and Other (1) |  | Total
Revenues |  | $ | 1,603,427 |  |  | $ | 101,282 |  |  | $ | 182,434 |  |  | $ | (167,759 | ) |  | $ | 1,719,384 |
Cost of revenues (excluding depreciation) |  | 1,643,320 |  |  | 59,116 |  |  | 116,812 |  |  | (167,759 | ) |  | 1,651,489 |
Operating expense (excluding depreciation) |  | 101,629 |  |  | 6,518 |  |  | 32,271 |  |  | — |  |  | 140,418 |
Depreciation, depletion, and amortization |  | 25,700 |  |  | 10,569 |  |  | 5,463 |  |  | 1,679 |  |  | 43,411 |
Impairment expense |  | 38,105 |  |  | — |  |  | 29,817 |  |  | — |  |  | 67,922 |
General and administrative expense (excluding depreciation) |  | — |  |  | — |  |  | — |  |  | 22,005 |  |  | 22,005 |
Acquisition and integration costs |  | — |  |  | — |  |  | — |  |  | 755 |  |  | 755 |
Operating income (loss) |  | $ | (205,327 | ) |  | $ | 25,079 |  |  | $ | (1,929 | ) |  | $ | (24,439 | ) |  | $ | (206,616 | )
Interest expense and financing costs, net |  |  |  |  |  |  |  |  |  | (35,088 | )
Other income, net |  |  |  |  |  |  |  |  |  | 479 |
Change in value of common stock warrants |  |  |  |  |  |  |  |  |  | 4,270 |
Equity losses from Laramie Energy, LLC |  |  |  |  |  |  |  |  |  | (46,905 | )
Loss before income taxes |  |  |  |  |  |  |  |  |  | (283,860 | )
Income tax benefit |  |  |  |  |  |  |  |  |  | 20,963 |
Net loss |  |  |  |  |  |  |  |  |  | $ | (262,897 | )
Capital expenditures |  | $ | 17,248 |  |  | $ | 10,190 |  |  | $ | 1,861 |  |  | $ | 866 |  |  | $ | 30,165 |
Six Months Ended June 30, 2019 |  | Refining |  | Logistics |  | Retail |  | Corporate, Eliminations and Other (1) |  | Total
Revenues |  | $ | 2,493,621 |  |  | $ | 95,355 |  |  | $ | 220,580 |  |  | $ | (208,812 | ) |  | $ | 2,600,744 |
Cost of revenues (excluding depreciation) |  | 2,306,934 |  |  | 53,288 |  |  | 161,120 |  |  | (208,768 | ) |  | 2,312,574 |
Operating expense (excluding depreciation) |  | 110,648 |  |  | 5,392 |  |  | 32,464 |  |  | — |  |  | 148,504 |
Depreciation, depletion, and amortization |  | 28,491 |  |  | 7,885 |  |  | 4,906 |  |  | 1,594 |  |  | 42,876 |
General and administrative expense (excluding depreciation) |  | — |  |  | — |  |  | — |  |  | 23,044 |  |  | 23,044 |
Acquisition and integration costs |  | — |  |  | — |  |  | — |  |  | 3,702 |  |  | 3,702 |
Operating income (loss) |  | $ | 47,548 |  |  | $ | 28,790 |  |  | $ | 22,090 |  |  | $ | (28,384 | ) |  | $ | 70,044 |
Interest expense and financing costs, net |  |  |  |  |  |  |  |  |  | (38,988 | )
Debt extinguishment and commitment costs |  |  |  |  |  |  |  |  |  | (9,186 | )
Other income, net |  |  |  |  |  |  |  |  |  | 2,264 |
Change in value of common stock warrants |  |  |  |  |  |  |  |  |  | (2,239 | )
Equity earnings from Laramie Energy, LLC |  |  |  |  |  |  |  |  |  | 792 |
Income before income taxes |  |  |  |  |  |  |  |  |  | 22,687 |
Income tax benefit |  |  |  |  |  |  |  |  |  | 66,574 |
Net income |  |  |  |  |  |  |  |  |  | $ | 89,261 |
Capital expenditures |  | $ | 18,883 |  |  | $ | 17,458 |  |  | $ | 4,277 |  |  | $ | 786 |  |  | $ | 41,404 |
________________________________________________________ (1) Includes eliminations of intersegment revenues and cost of revenues of $167.8 million and $208.8 million for the six months ended June 30, 2020 and 2019, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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