Segment Information

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

SEGMENT INFORMATION

11. SEGMENT INFORMATION

In May 2013, we completed the separation of our retail business, CST, and as a result, we no longer operate a retail business or report retail segment operating results. Segment activity related to our retail business prior to the separation is reflected in the retail segment results below. Motor fuel sales to CST, which were eliminated in consolidation prior to the separation, are reported as refining segment operating revenues from external customers after May 1, 2013.

The following table reflects activity related to our reportable segments (in millions):

	Refining		Ethanol		Retail		Corporate			Total
Three months ended June 30, 2014:
Operating revenues from external customers	$	33,457	$	1,457	$	—	$	—		$	34,914
Intersegment revenues	—		9		—		—			9
Operating income (loss)	1,079		187		—		(181		)	1,085
Three months ended June 30, 2013:
Operating revenues from external customers	31,564		1,491		979		—			34,034
Intersegment revenues	671		15		—		—			686
Operating income (loss)	918		95		39		(247		)	805
Six months ended June 30, 2014:
Operating revenues from external customers	65,909		2,668		—		—			68,577
Intersegment revenues	—		34		—		—			34
Operating income (loss)	2,359		430		—		(353		)	2,436
Six months ended June 30, 2013:
Operating revenues from external customers	61,117		2,495		3,896		—			67,508
Intersegment revenues	2,876		70		—		—			2,946
Operating income (loss)	2,127		109		81		(454		)	1,863

Total assets by reportable segment were as follows (in millions):

	June 30, 2014		December 31, 2013
Refining	$	41,326	$	40,834
Ethanol	937		889
Corporate	4,750		5,537
Total assets	$	47,013	$	47,260

In March 2014, we purchased an idled corn ethanol plant in Mount Vernon, Indiana for $34 million from a wholly owned subsidiary of Aventine Renewable Energy Holdings, Inc. We expect to resume production during the third quarter of 2014. We will finalize our purchase accounting once a determination of the fair values of the assets acquired and liabilities assumed is available, pending the completion of independent appraisals and other evaluations.