Oil Refinery (Tables)

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Segment Reporting

Segment results are prepared based on our internal accounting methods described below, with reconciliations to consolidated amounts in accordance with GAAP. Our segments are not designed to measure operating income or loss directly related to the products and services included in each segment on a stand-alone basis.

(in millions)	Airline		Refinery			Intersegment Sales/ Other				Consolidated
Three Months Ended September 30, 2013
Operating revenue:	$	10,490	$	1,892						$	10,490
Sales to airline segment						$	(320	)	(1)
Exchanged products						(1,504		)	(2)
Sales of refined products to third parties						(68		)	(3)
Operating income(4)	1,560		3							1,563
Interest expense, net	176		—							176
Depreciation and amortization expense	413		5							418
Total assets, end of period	44,823		1,174							45,997
Capital expenditures	618		13							631
Nine Months Ended September 30, 2013
Operating revenue:	$	28,697	$	5,487						$	28,697
Sales to airline segment						$	(927	)	(1)
Exchanged products						(4,172		)	(2)
Sales of refined products to third parties						(388		)	(3)
Operating income (loss)(4)	2,769		(70		)					2,699
Interest expense, net	526		—							526
Depreciation and amortization expense	1,225		13							1,238
Capital expenditures	1,591		25							1,616

⁽¹⁾  Represents transfers, valued on a market price basis, from the refinery to the airline segment for use in airline operations. We determine market price by reference to the market index for the primary delivery location for jet fuel from the refinery, which is New York Harbor.

⁽²⁾  Represents value of products exchanged under our buy/sell agreements, as discussed above, determined on a market price basis.

⁽³⁾  Represents sales of refined products to third parties. These sales were at or near cost; accordingly, the margin on these sales is de minimis.

⁽⁴⁾  Includes allocations of $36 million of gains in the three months ended September 30, 2013 and $8 million of losses for the nine months ended September 30, 2013 from the refinery segment to the airline segment, representing a portion of the refinery's inventory price risk.