Revenues and Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment information for our reportable segments

The following tables reflect information about our operating income by reportable segment (in millions):

	Refining		Ethanol		Renewable Diesel		Corporate and Eliminations			Total
Three months ended March 31, 2019:
Revenues:
Revenues from external customers	$	23,218	$	793	$	252	$	—		$	24,263
Intersegment revenues	2		52		51		(105		)	—
Total revenues	23,220		845		303		(105		)	24,263
Cost of sales:
Cost of materials and other	21,165		694		224		(105		)	21,978
Operating expenses (excluding depreciation and amortization expense reflected below)	1,071		125		19		—			1,215
Depreciation and amortization expense	503		23		11		—			537
Total cost of sales	22,739		842		254		(105		)	23,730
Other operating expenses	2		—		—		—			2
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—		—		209			209
Depreciation and amortization expense	—		—		—		14			14
Operating income by segment	$	479	$	3	$	49	$	(223	)	$	308

	Refining		Ethanol		Renewable Diesel			Corporate and Eliminations			Total
Three months ended March 31, 2018:
Revenues:
Revenues from external customers	$	25,453	$	877	$	108		$	1		$	26,439
Intersegment revenues	4		46		42			(92		)	—
Total revenues	25,457		923		150			(91		)	26,439
Cost of sales:
Cost of materials and other	23,164		749		(65		)	(92		)	23,756
Operating expenses (excluding depreciation and amortization expense reflected below)	1,011		111		14			—			1,136
Depreciation and amortization expense	461		18		6			—			485
Total cost of sales	24,636		878		(45		)	(92		)	25,377
Other operating expenses	10		—		—			—			10
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—		—			238			238
Depreciation and amortization expense	—		—		—			13			13
Operating income by segment	$	811	$	45	$	195		$	(250	)	$	801

The following table provides a disaggregation of revenues from external customers for our principal products by reportable segment (in millions).

	Three Months Ended March 31,
	2019		2018
Refining:
Gasolines and blendstocks	$	9,374	$	10,629
Distillates	11,917		12,550
Other product revenues	1,927		2,274
Total refining revenues	23,218		25,453
Ethanol:
Ethanol	620		701
Distillers grains	173		176
Total ethanol revenues	793		877
Renewable diesel:
Renewable diesel	252		108
Corporate – other revenues	—		1
Revenues	$	24,263	$	26,439

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

	March 31, 2019		December 31, 2018
Refining	$	45,487	$	43,488
Ethanol	1,718		1,691
Renewable diesel	844		787
Corporate and eliminations	4,046		4,189
Total assets	$	52,095	$	50,155