Sales and Other Operating Revenues

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregated Revenues

The following tables present our disaggregated sales and other operating revenues:



	Millions of Dollars
	2019		2018	2017*
Product Line and Services
Refined petroleum products	$	87,902	87,967	85,405
Crude oil resales	14,125		16,419	11,808
NGL	4,814		6,161	4,670
Services and other**	452		914	471
Consolidated sales and other operating revenues	$	107,293	111,461	102,354

Geographic Location***
United States	$	83,512	86,401	75,684
United Kingdom	9,863		11,054	10,626
Germany	4,053		4,352	6,692
Other foreign countries	9,865		9,654	9,352
Consolidated sales and other operating revenues	$	107,293	111,461	102,354

* Sales and other operating revenues for the year ended December 31, 2017, are presented in accordance with accounting standards in effect prior to our adoption of ASU No. 2014-09 on January 1, 2018.

** Includes derivatives-related activities. See Note 15—Derivatives and Financial Instruments, for additional information.

*** Sales and other operating revenues are attributable to countries based on the location of the operations generating the revenues.

Contract-Related Assets and Liabilities

At December 31, 2019 and 2018, receivables from contracts with customers were $6,902 million and $4,993 million, respectively. Significant noncustomer balances, such as buy/sell receivables and excise tax receivables, were excluded from these amounts.

Our contract-related assets also include payments we make to our marketing customers related to incentive programs. An incentive payment is initially recognized as an asset and subsequently amortized as a reduction to revenue over the contract term, which generally ranges from 5 to 15 years. At December 31, 2019 and 2018, our asset balances related to such payments were $336 million and $248 million, respectively.

Our contract liabilities represent advances from our customers prior to product or service delivery. At December 31, 2019 and 2018, contract liabilities were not material.

Remaining Performance Obligations

Most of our contracts with customers are spot contracts or term contracts with only variable consideration. We do not disclose remaining performance obligations for these contracts as the expected duration is one year or less or because the variable consideration has been allocated entirely to an unsatisfied performance obligation. We also have certain contracts in our Midstream segment that include minimum volume commitments with fixed pricing, which mostly expire by 2021. At December 31, 2019, the remaining performance obligations related to these minimum volume commitment contracts were not material.