Revenue Recognition

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

As of December 31, 2023 and 2022, receivables from contracts with customers were $311.1 million and $242.5 million, respectively. Our refining segment recognizes deferred revenues when cash payments are received in advance of delivery of products to the customer. Deferred revenue was $15.2 million and $11.5 million as of December 31, 2023 and 2022, respectively. We have elected to apply a practical expedient not to disclose the value of unsatisfied performance obligations for (i) contracts with an original expected duration of less than one year and (ii) contracts where the variable consideration has been allocated entirely to our unsatisfied performance obligation.

The following table provides information about disaggregated revenue by major product line and includes a reconciliation of the disaggregated revenues to total segment revenues (in thousands):

Year Ended December 31, 2023	Refining		Logistics		Retail
Product or service:
Gasoline	$	2,689,350	$	—	$	438,058
Distillates (1)	3,412,819		—		49,651
Other refined products (2)	1,718,961		—		—
Merchandise	—		—		101,529
Transportation and terminalling services	—		260,779		—
Other revenue	148,350		—		3,242
Total segment revenues (3)	$	7,969,480	$	260,779	$	592,480

Year Ended December 31, 2022	Refining		Logistics		Retail
Product or service:
Gasoline	$	1,999,065	$	—	$	428,959
Distillates (1)	3,139,807		—		46,392
Other refined products (2)	1,890,813		—		—
Merchandise	—		—		91,289
Transportation and terminalling services	—		198,821		—
Other revenue	16,375		—		3,566
Total segment revenues (3)	$	7,046,060	$	198,821	$	570,206

Year Ended December 31, 2021	Refining		Logistics		Retail
Product or service:
Gasoline	$	1,472,335	$	—	$	333,396
Distillates (1)	1,927,851		—		27,057
Other refined products (2)	1,065,555		—		—
Merchandise	—		—		92,004
Transportation and terminalling services	—		184,734		—
Other revenue	5,370		—		3,959
Total segment revenues (3)	$	4,471,111	$	184,734	$	456,416

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(1)Distillates primarily include diesel and jet fuel.

(2)Other refined products include fuel oil, gas oil, and asphalt.

(3)Refer to Note 23—Segment Information for the reconciliation of segment revenues to total consolidated revenues.