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Condensed Statements of Consolidated Operations (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Income Statement [Abstract]        
REVENUES (a) $ 11,151 $ 11,241 $ 32,188 $ 27,485
COSTS AND EXPENSES:        
Cost of sales (a) 9,594 10,355 28,409 24,827
Operating expenses 624 542 1,813 1,351
Selling, general and administrative expenses 86 54 209 229
Depreciation and amortization expense 144 140 409 356
(Gain) loss on asset disposals and impairments 1 4 (2) 19
OPERATING INCOME 702 146 1,350 703
Interest and financing costs, net (51) [1] (47) [1] (169) [1] (110) [1]
Other income, net 12 [2] 22 [2] 14 [2] 78 [2]
EARNINGS BEFORE INCOME TAXES 663 121 1,195 671
Income tax expense 249 47 437 243
NET EARNINGS FROM CONTINUING OPERATIONS 414 74 758 428
Earnings (loss) from discontinued operations, net of tax (1) 35 (2) 23
NET EARNINGS 413 109 756 451
Less: Net earnings from continuing operations attributable to noncontrolling interest 17 10 58 32
NET EARNINGS ATTRIBUTABLE TO TESORO CORPORATION 396 99 698 419
NET EARNINGS (LOSS) ATTRIBUTABLE TO TESORO CORPORATION        
Continuing operations 397 64 700 396
Discontinued operations (1) 35 (2) 23
Total 396 99 698 419
NET EARNINGS (LOSS) PER SHARE - BASIC:        
Continuing operations $ 3.11 $ 0.48 $ 5.41 $ 2.92
Discontinued operations $ (0.01) $ 0.26 $ (0.02) $ 0.17
Total $ 3.10 $ 0.74 $ 5.39 $ 3.09
Weighted average common shares outstanding - Basic 127.9 134.6 129.5 135.8
NET EARNINGS (LOSS) PER SHARE - DILUTED:        
Continuing operations $ 3.06 $ 0.46 $ 5.32 $ 2.86
Discontinued operations $ (0.01) $ 0.26 $ (0.02) $ 0.17
Total $ 3.05 $ 0.72 $ 5.30 $ 3.03
Weighted average common shares outstanding - Diluted 129.7 136.8 131.7 138.1
DIVIDENDS PER SHARE $ 0.30 $ 0.25 $ 0.80 $ 0.65
SUPPLEMENTAL INFORMATION:        
(a) Includes excise taxes collected by our retail segment (excluding credits) $ 148 $ 151 $ 441 $ 423
[1] Includes charges totaling $10 million and $41 million for premiums and unamortized debt issuance costs associated with the redemption of the 2019 Notes and 2020 Notes during the three and nine months ended September 30, 2014.
[2] Includes $54 million in refunds from a settlement of a rate proceeding from the California Public Utilities Commission for the nine months ended September 30, 2013 and the release of a $16 million legal reserve as a result of the favorable settlement of litigation for the three and nine months ended September 30, 2013.