XML 61 R45.htm IDEA: XBRL DOCUMENT

Revenues and Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Contract balances were as follows (in millions):


	December 31,
	2021		2020
Receivables from contracts with customers (see Note 4)	$	6,228	$	3,642
Contract liabilities, included in accrued expenses (see Note 9)	78		55

Segment activity, including total assets by reportable segment

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


	Refining		Renewable Diesel		Ethanol		Corporate and Eliminations		Total
Year ended December 31, 2021
Revenues:
Revenues from external customers	$	106,947	$	1,874	$	5,156	$	—	$	113,977
Intersegment revenues	14		468		433		(915)		—
Total revenues	106,961		2,342		5,589		(915)		113,977
Cost of sales:
Cost of materials and other (a)	97,759		1,438		4,428		(911)		102,714

Operating expenses (excluding depreciation and amortization expense reflected below)	5,088		134		556		(2)		5,776
Depreciation and amortization expense	2,169		58		131		—		2,358
Total cost of sales	105,016		1,630		5,115		(913)		110,848
Other operating expenses	83		3		1		—		87
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—		—		865		865
Depreciation and amortization expense	—		—		—		47		47


Operating income by segment	$	1,862	$	709	$	473	$	(914)	$	2,130

Total expenditures for long-lived assets (b)	$	1,374	$	1,049	$	18	$	17	$	2,458

________________________

See notes on page 126.


	Refining		Renewable Diesel		Ethanol		Corporate and Eliminations		Total
Year ended December 31, 2020
Revenues:
Revenues from external customers	$	60,840	$	1,055	$	3,017	$	—	$	64,912
Intersegment revenues	8		212		226		(446)		—
Total revenues	60,848		1,267		3,243		(446)		64,912
Cost of sales:
Cost of materials and other (a)	56,093		500		2,784		(444)		58,933
LCM inventory valuation adjustment	(19)		—		—		—		(19)
Operating expenses (excluding depreciation and amortization expense reflected below)	3,944		85		406		—		4,435
Depreciation and amortization expense	2,138		44		121		—		2,303
Total cost of sales	62,156		629		3,311		(444)		65,652
Other operating expenses	34		—		1		—		35
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—		—		756		756
Depreciation and amortization expense	—		—		—		48		48


Operating income (loss) by segment	$	(1,342)	$	638	$	(69)	$	(806)	$	(1,579)

Total expenditures for long-lived assets (b)	$	1,838	$	548	$	23	$	27	$	2,436



Year ended December 31, 2019
Revenues:
Revenues from external customers	$	103,746	$	970	$	3,606	$	2	$	108,324
Intersegment revenues	18		247		231		(496)		—
Total revenues	103,764		1,217		3,837		(494)		108,324
Cost of sales:
Cost of materials and other (a)	93,371		360		3,239		(494)		96,476
Operating expenses (excluding depreciation and amortization expense reflected below)	4,289		75		504		—		4,868
Depreciation and amortization expense	2,062		50		90		—		2,202

Total cost of sales	99,722		485		3,833		(494)		103,546
Other operating expenses	20		—		1		—		21
General and administrative expenses (excluding depreciation and amortization expense reflected below)	—		—		—		868		868
Depreciation and amortization expense	—		—		—		53		53


Operating income by segment	$	4,022	$	732	$	3	$	(921)	$	3,836

Total expenditures for long-lived assets (b)	$	2,581	$	160	$	47	$	58	$	2,846

________________________

(a)Cost of materials and other for our Renewable Diesel segment is net of blender’s tax credit on qualified fuel mixtures of $371 million, $288 million, and $431 million for the years ended December 31, 2021, 2020, and 2019, respectively. Of the amount recognized in 2019, $156 million related to volumes blended during 2018, given that the legislation that retroactively reinstated the credit was passed and signed into law in December 2019.

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

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


	December 31,
	2021		2020
Refining	$	47,365	$	42,939
Renewable Diesel	3,437		1,659
Ethanol	1,812		1,728
Corporate and eliminations	5,274		5,448
Total assets	$	57,888	$	51,774

Operating revenues from external customers by product

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


	Year Ended December 31,
	2021		2020		2019
Refining:
Gasolines and blendstocks	$	49,534	$	26,278	$	42,798
Distillates	45,939		28,234		51,942
Other product revenues	11,474		6,328		9,006
Total refining revenues	106,947		60,840		103,746
Renewable Diesel:
Renewable diesel	1,874		1,055		970
Ethanol:
Ethanol	4,122		2,353		2,889
Distillers grains	1,034		664		717
Total ethanol revenues	5,156		3,017		3,606
Corporate – other revenues	—		—		2

Revenues	$	113,977	$	64,912	$	108,324

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,
	2021		2020		2019
U.S.	$	82,940	$	45,174	$	77,173
Canada	6,597		4,294		7,915
U.K. and Ireland	13,307		9,268		13,584
Other countries	11,133		6,176		9,652
Revenues	$	113,977	$	64,912	$	108,324

Geographic information by country for long-lived assets

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


	December 31,
	2021		2020
U.S.	$	28,518	$	28,184
Canada	1,855		1,877
U.K. and Ireland	1,528		1,353
Mexico and Peru	859		738
Total long-lived assets	$	32,760	$	32,152