Annual report pursuant to Section 13 and 15(d)

Segment Data

v3.6.0.2
Segment Data
12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Reporting
Segment Data
Our revenues are derived from three operating segments: (i) refining and marketing, (ii) asphalt and (iii) retail. The reportable operating segments are strategic business units that offer different products and services. The segments are managed separately as each segment requires unique technology, marketing strategies and distinct operational emphasis. Each operating segment’s performance is evaluated primarily based on operating income. Operations that are not included in any of the three segments are included in the corporate category. These operations consist primarily of corporate headquarters operating and depreciation expenses.
Operating income (loss) for each segment consists of net sales less cost of sales, direct operating expenses, selling, general and administrative expenses, depreciation and amortization, gain (loss) on disposition of assets and loss on impairment of goodwill. Intersegment sales are intended to approximate wholesale market prices. Consolidated totals presented are after intersegment eliminations.
Total assets of each segment consist of net property, plant and equipment, inventories, cash and cash equivalents, accounts and other receivables, goodwill and other assets directly associated with the segment’s operations. Corporate assets consist primarily of corporate headquarters information technology and administrative equipment.
Segment data as of and for the years ended December 31, 2016, 2015 and 2014 are presented below:
 
Refining and
Marketing
 
Asphalt
 
Retail
 
Corporate
 
Consolidated
Total
Year ended December 31, 2016
 
 
 
 
 
 
 
 
 
Net sales to external customers
$
2,932,673

 
$
248,988

 
$
731,743

 
$

 
$
3,913,404

Intersegment sales (purchases)
307,497

 
(16,772
)
 
(290,725
)
 

 

Depreciation and amortization
124,304

 
5,044

 
13,519

 
2,710

 
145,577

Operating income (loss)
(96,946
)
 
17,448

 
15,536

 
(3,448
)
 
(67,410
)
Turnarounds, catalysts and capital expenditures
78,478

 
3,001

 
5,630

 
3,348

 
90,457

 
Refining and
Marketing
 
Asphalt
 
Retail
 
Corporate
 
Consolidated
Total
Year ended December 31, 2015
 
 
 
 
 
 
 
 
 
Net sales to external customers
$
3,305,762

 
$
257,955

 
$
774,435

 
$

 
$
4,338,152

Intersegment sales (purchases)
358,194

 
(31,198
)
 
(326,996
)
 

 

Depreciation and amortization
107,619

 
4,892

 
12,431

 
1,552

 
126,494

Operating income (loss)
178,081

 
2,363

 
25,230

 
(2,265
)
 
203,409

Turnarounds, catalysts and capital expenditures
108,777

 
3,385

 
18,993

 
5,388

 
136,543

 
Refining and
Marketing
 
Asphalt
 
Retail
 
Corporate
 
Consolidated
Total
Year ended December 31, 2014
 
 
 
 
 
 
 
 
 
Net sales to external customers
$
5,382,360

 
$
457,412

 
$
939,684

 
$

 
$
6,779,456

Intersegment sales (purchases)
555,622

 
(59,615
)
 
(496,007
)
 

 

Depreciation and amortization
104,676

 
4,747

 
12,241

 
2,399

 
124,063

Operating income (loss)
204,609

 
(25,597
)
 
25,665

 
(3,105
)
 
201,572

Turnarounds, catalysts and capital expenditures
125,621

 
5,777

 
16,748

 
2,756

 
150,902


Total assets by reportable segment consisted of the following:
 
December 31,
2016
 
December 31,
2015
Refining and marketing
1,739,840

 
1,822,924

Asphalt
111,941

 
106,015

Retail
241,272

 
231,078

Corporate
17,106

 
16,121

Total assets
$
2,110,159

 
$
2,176,138