Segment Information

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

SEGMENT INFORMATION

9. SEGMENT INFORMATION

The following table reflects activity related to our reportable segments (in millions):

	Refining			Ethanol			Corporate			Total
Three months ended March 31, 2016:
Total segment revenues	$	14,920		$	828		$	—		$	15,748
Less intersegment revenues	—			34			—			34
Operating revenues from external customers	$	14,920		$	794		$	—		$	15,714
Lower of cost or market inventory valuation adjustment	$	(263	)	$	(30	)	$	—		$	(293	)
Operating income (loss)	958			39			(168		)	829
Three months ended March 31, 2015:
Total segment revenues	$	20,529		$	829		$	—		$	21,358
Less intersegment revenues	—			28			—			28
Operating revenues from external customers	$	20,529		$	801		$	—		$	21,330
Operating income (loss)	$	1,641		$	12		$	(158	)	$	1,495

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

	March 31, 2016		December 31, 2015
Refining	$	38,427	$	38,068
Ethanol	1,040		1,016
Corporate	4,792		5,143
Total assets	$	44,259	$	44,227