Revenues and Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

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



	Refining		Ethanol			Renewable Diesel			Corporate and Eliminations			Total
Three months ended September 30, 2019:
Revenues:
Revenues from external customers	$	26,145	$	891		$	212		$	1		$	27,249
Intersegment revenues	2		57			50			(109		)	—
Total revenues	26,147		948			262			(108		)	27,249
Cost of sales:
Cost of materials and other	23,432		847			164			(108		)	24,335
Operating expenses (excluding depreciation and amortization expense reflected below)	1,100		121			18			—			1,239
Depreciation and amortization expense	518		23			15			—			556
Total cost of sales	25,050		991			197			(108		)	26,130
Other operating expenses	10		—			—			—			10
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—			—			217			217
Depreciation and amortization expense	—		—			—			11			11
Operating income (loss) by segment	$	1,087	$	(43	)	$	65		$	(228	)	$	881

Three months ended September 30, 2018:
Revenues:
Revenues from external customers	$	29,894	$	864		$	90		$	1		$	30,849
Intersegment revenues	5		68			15			(88		)	—
Total revenues	29,899		932			105			(87		)	30,849
Cost of sales:
Cost of materials and other	26,928		776			85			(88		)	27,701
Operating expenses (excluding depreciation and amortization expense reflected below)	1,058		116			19			—			1,193
Depreciation and amortization expense	479		19			6			—			504
Total cost of sales	28,465		911			110			(88		)	29,398
Other operating expenses	10		—			—			—			10
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—			—			209			209
Depreciation and amortization expense	—		—			—			13			13
Operating income (loss) by segment	$	1,424	$	21		$	(5	)	$	(221	)	$	1,219



	Refining		Ethanol			Renewable Diesel		Corporate and Eliminations			Total
Nine months ended September 30, 2019:
Revenues:
Revenues from external customers	$	77,109	$	2,648		$	686	$	2		$	80,445
Intersegment revenues	12		162			174		(348		)	—
Total revenues	77,121		2,810			860		(346		)	80,445
Cost of sales:
Cost of materials and other	69,769		2,396			577		(346		)	72,396
Operating expenses (excluding depreciation and amortization expense reflected below)	3,197		378			54		—			3,629
Depreciation and amortization expense	1,539		68			38		—			1,645
Total cost of sales	74,505		2,842			669		(346		)	77,670
Other operating expenses	13		1			—		—			14
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—			—		625			625
Depreciation and amortization expense	—		—			—		39			39
Operating income (loss) by segment	$	2,603	$	(33	)	$	191	$	(664	)	$	2,097

Nine months ended September 30, 2018:
Revenues:
Revenues from external customers	$	85,371	$	2,625		$	304	$	3		$	88,303
Intersegment revenues	20		156			103		(279		)	—
Total revenues	85,391		2,781			407		(276		)	88,303
Cost of sales:
Cost of materials and other	77,195		2,279			122		(279		)	79,317
Operating expenses (excluding depreciation and amortization expense reflected below)	3,057		336			46		—			3,439
Depreciation and amortization expense	1,423		57			19		—			1,499
Total cost of sales	81,675		2,672			187		(279		)	84,255
Other operating expenses	41		—			—		—			41
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—			—		695			695
Depreciation and amortization expense	—		—			—		39			39
Operating income by segment	$	3,675	$	109		$	220	$	(731	)	$	3,273

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



	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Refining:
Gasolines and blendstocks	$	10,978	$	12,660	$	31,882	$	35,803
Distillates	12,861		13,963		38,254		40,866
Other product revenues	2,306		3,271		6,973		8,702
Total refining revenues	26,145		29,894		77,109		85,371
Ethanol:
Ethanol	714		695		2,108		2,092
Distillers grains	177		169		540		533
Total ethanol revenues	891		864		2,648		2,625
Renewable diesel:
Renewable diesel	212		90		686		304
Corporate – other revenues	1		1		2		3
Revenues	$	27,249	$	30,849	$	80,445	$	88,303

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