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Segments (Tables)
 9 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
Schedule of segment reporting information, by segment
Segment results are prepared based on our internal accounting policies described below, with reconciliations to consolidated amounts in accordance with GAAP.
(in millions)
Airline
Refinery
 
Intersegment Sales/Other
 
Consolidated
Three Months Ended September 30, 2015
 
 
 
 
 
 
Operating revenue:
$
10,994

$
1,258

 
 
 
$
11,107

Sales to airline segment
 
 
 
$
(267
)
(1) 
 
Exchanged products
 
 
 
(761
)
(2) 
 
Sales of refined products to third parties
 
 
 
(117
)
(3) 
 
Operating income(4)
2,107

106

 
—

 
2,213

Interest expense, net
121

—

 
—

 
121

Depreciation and amortization
458

8

 
—

 
466

Total assets, end of period
52,388

1,258

 
—

 
53,646

Capital expenditures
536

26

 
—

 
562

 
 
 
 
 
 
 
Three Months Ended September 30, 2014
 
 
 
 
 
 
Operating revenue:
$
11,114

$
1,836

 
 
 
$
11,178

Sales to airline segment
 
 
 
$
(345
)
(1) 
 
Exchanged products
 
 
 
(1,393
)
(2) 
 
Sales of refined products to third parties
 
 
 
(34
)
(3) 
 
Operating income(4)
816

19

 
—

 
835

Interest expense, net
154

—

 
—

 
154

Depreciation and amortization
433

7

 
—

 
440

Total assets, end of period
50,648

1,292

 
—

 
51,940

Capital expenditures
449

8

 
—

 
457

 
(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, which is New York Harbor, for jet fuel from the refinery.
(2) 
Represents value of products delivered under our strategic 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 the impact of pricing arrangements between the airline segment and refinery segment with respect to the refinery's inventory price risk.


(in millions)
Airline
Refinery
 
Intersegment Sales/Other
 
Consolidated
Nine Months Ended September 30, 2015
 
 
 
 
 
 
Operating revenue:
$
30,900

$
3,755

 
 
 
$
31,202

Sales to airline segment
 
 
 
$
(792
)
(1) 
 
Exchanged products
 
 
 
(2,401
)
(2) 
 
Sales of refined products to third parties
 
 
 
(260
)
(3) 
 
Operating income(4)
5,803

282

 
—

 
6,085

Interest expense, net
379

—

 
—

 
379

Depreciation and amortization
1,361

23

 
—

 
1,384

Capital expenditures
2,021

46

 
—

 
2,067

 
 
 
 
 
 
 
Nine Months Ended September 30, 2014
 
 
 
 
 
 
Operating revenue:
$
30,651

$
5,317

 
 
 
$
30,715

Sales to airline segment
 
 
 
$
(981
)
(1) 
 
Exchanged products
 
 
 
(3,920
)
(2) 
 
Sales of refined products to third parties
 
 
 
(352
)
(3) 
 
Operating income (loss)(4)
3,043

(9
)
 
—

 
3,034

Interest expense, net
513

—

 
—

 
513

Depreciation and amortization
1,315

18

 
—

 
1,333

Capital expenditures
1,552

37

 
—

 
1,589


(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, which is New York Harbor, for jet fuel from the refinery.
(2) 
Represents value of products delivered under our strategic 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 the impact of pricing arrangements between the airline segment and refinery segment with respect to the refinery's inventory price risk.