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



	Refining			Ethanol			VLP		Corporate and Eliminations			Total
Three months ended June 30, 2017:
Operating revenues:
Operating revenues from external customers	$	21,415		$	839		$	—	$	—		$	22,254
Intersegment revenues	—			28			110		(138		)	—
Total operating revenues	21,415			867			110		(138		)	22,254
Costs and expenses:
Cost of sales:
Cost of sales from external customers	18,899			710			—		—			19,609
Intersegment cost of sales	138			—			—		(138		)	—
Total cost of sales	19,037			710			—		(138		)	19,609
Operating expenses	965			107			27		(2		)	1,097
General and administrative expenses	—			—			—		178			178
Depreciation and amortization expense	454			19			12		14			499
Total costs and expenses	20,456			836			39		52			21,383
Operating income (loss)	$	959		$	31		$	71	$	(190	)	$	871

Three months ended June 30, 2016:
Operating revenues:
Operating revenues from external customers	$	18,664		$	920		$	—	$	—		$	19,584
Intersegment revenues	—			45			87		(132		)	—
Total operating revenues	18,664			965			87		(132		)	19,584
Costs and expenses:
Cost of sales (excluding the lower of cost or market inventory valuation adjustment):
Cost of sales from external customers	16,322			798			—		—			17,120
Intersegment cost of sales	132			—			—		(132		)	—
Total cost of sales (excluding the lower of cost or market inventory valuation adjustment)	16,454			798			—		(132		)	17,120
Lower of cost or market inventory valuation adjustment	(434		)	(20		)	—		—			(454		)
Operating expenses (a)	878			99			24		—			1,001
General and administrative expenses	—			—			—		159			159
Depreciation and amortization expense (a)	430			19			11		11			471
Asset impairment loss	56			—			—		—			56
Total costs and expenses	17,384			896			35		38			18,353
Operating income (loss)	$	1,280		$	69		$	52	$	(170	)	$	1,231

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(a)	The VLP segment information for the three months ended June 30, 2016 has been retrospectively adjusted for VLP’s acquisitions that occurred subsequent to June 30, 2016.



	Refining			Ethanol			VLP		Corporate and Eliminations			Total
Six months ended June 30, 2017:
Operating revenues:
Operating revenues from external customers	$	42,302		$	1,724		$	—	$	—		$	44,026
Intersegment revenues	—			88			216		(304		)	—
Total operating revenues	42,302			1,812			216		(304		)	44,026
Costs and expenses:
Cost of sales:
Cost of sales from external customers	37,540			1,497			—		—			39,037
Intersegment cost of sales	304			—			—		(304		)	—
Total cost of sales	37,844			1,497			—		(304		)	39,037
Operating expenses	1,949			216			51		(2		)	2,214
General and administrative expenses	—			—			—		368			368
Depreciation and amortization expense	903			46			24		26			999
Total costs and expenses	40,696			1,759			75		88			42,618
Operating income (loss)	$	1,606		$	53		$	141	$	(392	)	$	1,408

Six months ended June 30, 2016:
Operating revenues:
Operating revenues from external customers	$	33,584		$	1,714		$	—	$	—		$	35,298
Intersegment revenues	—			79			166		(245		)	—
Total operating revenues	33,584			1,793			166		(245		)	35,298
Costs and expenses:
Cost of sales (excluding the lower of cost or market inventory valuation adjustment):
Cost of sales from external customers	29,121			1,506			—		—			30,627
Intersegment cost of sales	245			—			—		(245		)	—
Total cost of sales (excluding the lower of cost or market inventory valuation adjustment)	29,366			1,506			—		(245		)	30,627
Lower of cost or market inventory valuation adjustment	(697		)	(50		)	—		—			(747		)
Operating expenses (a)	1,785			198			48		—			2,031
General and administrative expenses	—			—			—		315			315
Depreciation and amortization expense (a)	879			31			23		23			956
Asset impairment loss	56			—			—		—			56
Total costs and expenses	31,389			1,685			71		93			33,238
Operating income (loss)	$	2,195		$	108		$	95	$	(338	)	$	2,060

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(a)	The VLP segment information for the six months ended June 30, 2016 has been retrospectively adjusted for VLP’s acquisitions that occurred subsequent to June 30, 2016.

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



	June 30, 2017		December 31, 2016
Refining	$	37,401	$	38,095
Ethanol	1,314		1,316
VLP	1,072		972
Corporate	6,187		5,790
Total assets	$	45,974	$	46,173