Revenues and Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment activity, including total assets by reportable segment

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

	December 31,
	2018		2017
Refining	$	42,673	$	40,382
Ethanol	1,691		1,344
VLP	1,620		1,517
Corporate and eliminations	4,171		6,915
Total assets	$	50,155	$	50,158

The following tables reflect information about our operating income and total expenditures for long-lived assets by reportable segment (in millions):

	Refining		Ethanol		VLP		Corporate and Eliminations			Total
Year ended December 31, 2018:
Revenues:
Revenues from external customers	$	113,601	$	3,428	$	—	$	4		$	117,033
Intersegment revenues	14		210		546		(770		)	—
Total revenues	113,615		3,638		546		(766		)	117,033
Cost of sales:
Cost of materials and other	102,489		3,008		—		(765		)	104,732
Operating expenses (excluding depreciation and amortization expense reflected below)	4,099		470		125		(4		)	4,690
Depreciation and amortization expense	1,863		78		76		—			2,017
Total cost of sales	108,451		3,556		201		(769		)	111,439
Other operating expenses	45		—		—		—			45
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—		—		925			925
Depreciation and amortization expense	—		—		—		52			52
Operating income by segment	$	5,119	$	82	$	345	$	(974	)	$	4,572
Total expenditures for long-lived assets (a)	$	2,935	$	373	$	24	$	44		$	3,376

^{__________________________} 

See note on page 126.

	Refining		Ethanol		VLP		Corporate and Eliminations			Total
Year ended December 31, 2017:
Revenues:
Revenues from external customers	$	90,651	$	3,324	$	—	$	5		$	93,980
Intersegment revenues	6		176		452		(634		)	—
Total revenues	90,657		3,500		452		(629		)	93,980
Cost of sales:
Cost of materials and other	80,865		2,804		—		(632		)	83,037
Operating expenses (excluding depreciation and amortization expense reflected below)	3,959		443		104		(2		)	4,504
Depreciation and amortization expense	1,800		81		53		—			1,934
Total cost of sales	86,624		3,328		157		(634		)	89,475
Other operating expenses	58		—		3		—			61
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—		—		829			829
Depreciation and amortization expense	—		—		—		52			52
Operating income by segment	$	3,975	$	172	$	292	$	(876	)	$	3,563
Total expenditures for long-lived assets (a)	$	1,710	$	84	$	110	$	44		$	1,948

Year Ended December 31, 2016:
Revenues:
Revenues from external customers	$	71,968		$	3,691		$	—	$	—		$	75,659
Intersegment revenues	—			210			363		(573		)	—
Total revenues	71,968			3,901			363		(573		)	75,659
Cost of sales:
Cost of materials and other	63,405			3,130			—		(573		)	65,962
Operating expenses (excluding depreciation and amortization expense reflected below)	3,740			415			96		—			4,251
Depreciation and amortization expense	1,734			66			46		—			1,846
Lower of cost or market inventory valuation adjustment	(697		)	(50		)	—		—			(747		)
Total cost of sales	68,182			3,561			142		(573		)	71,312
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—			—			—		709			709
Depreciation and amortization expense	—			—			—		48			48
Asset impairment loss	56			—			—		—			56
Operating income by segment	$	3,730		$	340		$	221	$	(757	)	$	3,534
Total expenditures for long-lived assets (a)	$	1,867		$	68		$	23	$	38		$	1,996

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(a) Total expenditures for long-lived assets includes amounts related to capital expenditures, deferred turnaround and catalyst costs, and property, plant, and equipment for acquisitions.

Operating revenues from external customers by product

The following table provides a disaggregation of revenues by reportable segment (in millions). Refining and ethanol segment revenues are disaggregated for our principal products, and VLP segment revenues are disaggregated by activity type.

	Year Ended December 31,
	2018			2017			2016
Refining:
Gasolines and blendstocks	$	46,606		$	40,366		$	33,450
Distillates	55,546			42,074			32,576
Other product revenues	11,463			8,217			5,942
Total refining revenues	113,615			90,657			71,968
Ethanol:
Ethanol	2,912			2,940			3,315
Distillers grains	726			560			586
Total ethanol revenues	3,638			3,500			3,901
VLP:
Pipeline transportation	124			101			78
Terminaling	415			348			284
Storage and other	7			3			1
Total VLP revenues	546			452			363
Corporate – other revenues	4			5			—
Elimination of intersegment revenues	(770		)	(634		)	(573		)
Revenues	$	117,033		$	93,980		$	75,659

Operating revenues by geographic area of customer

Revenues by geographic area are shown in the following table (in millions). The geographic area is based on location of customer and no customer accounted for 10 percent or more of our revenues.

	Year Ended December 31,
	2018		2017		2016
U.S.	$	82,992	$	66,614	$	51,479
Canada	9,211		7,039		6,115
U.K. and Ireland	15,208		11,556		10,797
Other countries	9,622		8,771		7,268
Revenues	$	117,033	$	93,980	$	75,659

Geographic information by country for long-lived assets

Long-lived assets by geographic area consisted of the following (in millions):

	December 31,
	2018		2017
U.S.	$	27,475	$	26,083
Canada	1,798		1,915
U.K. and Ireland	1,113		1,063
Other countries	266		—
Total long-lived assets	$	30,652	$	29,061