XML 40 R24.htm IDEA: XBRL DOCUMENT
v3.22.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2022
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, 2022 |  | Refining |  | Logistics |  | Retail |  |  |  |  |  | Corporate, Eliminations and Other (1) |  | Total
Revenues |  | 2,044,455 |  |  | 50,633 |  |  | 147,211 |  |  |  |  |  |  | (135,967) |  |  | $ | 2,106,332 |
Cost of revenues (excluding depreciation) |  | 1,799,577 |  |  | 25,739 |  |  | 119,642 |  |  |  |  |  |  | (136,033) |  |  | 1,808,925 |
Operating expense (excluding depreciation) |  | 59,101 |  |  | 3,797 |  |  | 19,444 |  |  |  |  |  |  | — |  |  | 82,342 |
Depreciation and amortization |  | 16,979 |  |  | 5,211 |  |  | 2,600 |  |  |  |  |  |  | 793 |  |  | 25,583 |
Loss (gain) on sale of assets, net |  | — |  |  | (12) |  |  | — |  |  |  |  |  |  | 27 |  |  | 15 |
General and administrative expense (excluding depreciation) |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 15,438 |  |  | 15,438 |
Acquisition and integration costs |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |  |  | — |
Operating income (loss) |  | $ | 168,798 |  |  | $ | 15,898 |  |  | $ | 5,525 |  |  |  |  |  |  | $ | (16,192) |  |  | $ | 174,029 |
Interest expense and financing costs, net |  |  |  |  |  |  |  |  |  |  |  |  |  | (18,154) |
Debt extinguishment and commitment costs |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,672) |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 47 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | 150,250 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,125) |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 149,125 |
Capital expenditures |  | $ | 8,666 |  |  | $ | 2,177 |  |  | $ | 1,508 |  |  |  |  |  |  | $ | 336 |  |  | $ | 12,687 |
Three Months Ended June 30, 2021 |  | Refining |  | Logistics |  | Retail |  |  |  |  |  | Corporate, Eliminations and Other (1) |  | Total
Revenues |  | $ | 1,155,847 |  |  | $ | 48,706 |  |  | $ | 118,446 |  |  |  |  |  |  | $ | (105,474) |  |  | $ | 1,217,525 |
Cost of revenues (excluding depreciation) |  | 1,190,797 |  |  | 25,314 |  |  | 86,671 |  |  |  |  |  |  | (105,484) |  |  | 1,197,298 |
Operating expense (excluding depreciation) |  | 47,944 |  |  | 3,494 |  |  | 17,383 |  |  |  |  |  |  | — |  |  | 68,821 |
Depreciation and amortization |  | 14,561 |  |  | 5,377 |  |  | 2,874 |  |  |  |  |  |  | 736 |  |  | 23,548 |
Loss (gain) on sale of assets, net |  | 1,664 |  |  | (21) |  |  | (1,133) |  |  |  |  |  |  | — |  |  | 510 |
General and administrative expense (excluding depreciation) |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 12,201 |  |  | 12,201 |
Acquisition and integration costs |  | — |  |  | — |  |  | — |  |  |  |  |  |  | (352) |  |  | (352) |
Operating income (loss) |  | $ | (99,119) |  |  | $ | 14,542 |  |  | $ | 12,651 |  |  |  |  |  |  | $ | (12,575) |  |  | $ | (84,501) |
Interest expense and financing costs, net |  |  |  |  |  |  |  |  |  |  |  |  |  | (17,186) |
Debt extinguishment and commitment costs |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,628) |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  | (36) |
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | (108,351) |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (607) |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (108,958) |
Capital expenditures |  | $ | 2,432 |  |  | $ | 1,112 |  |  | $ | 1,983 |  |  |  |  |  |  | $ | 302 |  |  | $ | 5,829 |
________________________________________________________ (1)Includes eliminations of intersegment revenues and cost of revenues of $136.0 million and $105.5 million for the three months ended June 30, 2022 and 2021, respectively.
Six Months Ended June 30, 2022 |  | Refining |  | Logistics |  | Retail |  |  |  |  |  | Corporate, Eliminations and Other (1) |  | Total
Revenues |  | $ | 3,343,678 |  |  | $ | 93,094 |  |  | $ | 267,120 |  |  |  |  |  |  | $ | (247,267) |  |  | $ | 3,456,625 |
Cost of revenues (excluding depreciation) |  | 3,143,492 |  |  | 49,488 |  |  | 213,484 |  |  |  |  |  |  | (247,290) |  |  | 3,159,174 |
Operating expense (excluding depreciation) |  | 117,401 |  |  | 7,570 |  |  | 38,775 |  |  |  |  |  |  | — |  |  | 163,746 |
Depreciation and amortization |  | 32,312 |  |  | 10,298 |  |  | 5,291 |  |  |  |  |  |  | 1,462 |  |  | 49,363 |
Loss (gain) on sale of assets, net |  | — |  |  | (12) |  |  | — |  |  |  |  |  |  | 27 |  |  | 15 |
General and administrative expense (excluding depreciation) |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 31,331 |  |  | 31,331 |
Acquisition and integration costs |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 63 |  |  | 63 |
Operating income (loss) |  | $ | 50,473 |  |  | $ | 25,750 |  |  | $ | 9,570 |  |  |  |  |  |  | $ | (32,860) |  |  | $ | 52,933 |
Interest expense and financing costs, net |  |  |  |  |  |  |  |  |  |  |  |  |  | (34,548) |
Debt extinguishment and commitment costs |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,672) |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 49 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,762 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (688) |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 12,074 |
Capital expenditures |  | $ | 21,495 |  |  | $ | 3,910 |  |  | $ | 3,089 |  |  |  |  |  |  | $ | 526 |  |  | $ | 29,020 |
Six Months Ended June 30, 2021 |  | Refining |  | Logistics |  | Retail |  |  |  |  |  | Corporate, Eliminations and Other (1) |  | Total
Revenues |  | $ | 1,994,602 |  |  | $ | 90,015 |  |  | $ | 209,634 |  |  |  |  |  |  | $ | (188,046) |  |  | $ | 2,106,205 |
Cost of revenues (excluding depreciation) |  | 2,074,274 |  |  | 47,396 |  |  | 152,543 |  |  |  |  |  |  | (188,052) |  |  | 2,086,161 |
Operating expense (excluding depreciation) |  | 101,282 |  |  | 7,390 |  |  | 34,337 |  |  |  |  |  |  | — |  |  | 143,009 |
Depreciation and amortization |  | 28,625 |  |  | 10,631 |  |  | 5,534 |  |  |  |  |  |  | 1,638 |  |  | 46,428 |
Loss (gain) from sale of assets, net |  | (19,595) |  |  | (21) |  |  | (44,786) |  |  |  |  |  |  | — |  |  | (64,402) |
General and administrative expense (excluding depreciation) |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 24,086 |  |  | 24,086 |
Acquisition and integration costs |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 86 |  |  | 86 |
Operating income (loss) |  | $ | (189,984) |  |  | $ | 24,619 |  |  | $ | 62,006 |  |  |  |  |  |  | $ | (25,804) |  |  | $ | (129,163) |
Interest expense and financing costs, net |  |  |  |  |  |  |  |  |  |  |  |  |  | (35,337) |
Debt extinguishment and commitment costs |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,135) |
Gain on curtailment of pension obligation |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,032 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 25 |
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | (170,578) |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  | (607) |
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (171,185) |
Capital expenditures |  | $ | 7,007 |  |  | $ | 3,963 |  |  | $ | 2,575 |  |  |  |  |  |  | $ | 462 |  |  | $ | 14,007 |
________________________________________________________ (1)Includes eliminations of intersegment revenues and cost of revenues of $247.3 million and $188.0 million for the six months ended June 30, 2022 and 2021, respectively.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration