Segment Information (Tables)

9 Months Ended

Sep. 30, 2016

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



	Refining			Ethanol			Corporate			Total
Three months ended September 30, 2016:
Total segment revenues	$	18,718		$	987		$	—		$	19,705
Less intersegment revenues	—			56			—			56
Operating revenues from external customers	$	18,718		$	931		$	—		$	19,649
Operating income (loss)	$	990		$	106		$	(204	)	$	892

Three months ended September 30, 2015:
Total segment revenues	$	21,739		$	879		$	—		$	22,618
Less intersegment revenues	—			39			—			39
Operating revenues from external customers	$	21,739		$	840		$	—		$	22,579
Operating income (loss)	$	2,295		$	35		$	(191	)	$	2,139

Nine months ended September 30, 2016:
Total segment revenues	$	52,302		$	2,780		$	—		$	55,082
Less intersegment revenues	—			135			—			135
Operating revenues from external customers	$	52,302		$	2,645		$	—		$	54,947
Lower of cost or market inventory valuation adjustment	$	(697	)	$	(50	)	$	—		$	(747	)
Asset impairment loss	56			—			—			56
Operating income (loss)	3,280			214			(542		)	2,952

Nine months ended September 30, 2015:
Total segment revenues	$	66,618		$	2,513		$	—		$	69,131
Less intersegment revenues	—			104			—			104
Operating revenues from external customers	$	66,618		$	2,409		$	—		$	69,027
Operating income (loss)	$	6,097		$	155		$	(540	)	$	5,712

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