Disclosures regarding the Company’s reportable segments with reconciliations to consolidated totals for the three months ended March 31, 2026 and 2025 are presented below. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2026 | | (in millions) | Refining | | Logistics | | Corporate | | Eliminations | | Consolidated Total | | Revenues | $ | 7,899.8 | | | $ | 93.2 | | | $ | — | | | $ | (88.7) | | | $ | 7,904.3 | | | Cost of products and other | 6,862.9 | | | 3.2 | | | — | | | (84.2) | | | 6,781.9 | | | Operating expenses (income) | 661.2 | | | 32.2 | | | — | | | (4.5) | | | 688.9 | | | Depreciation and amortization expense | 146.7 | | | 8.3 | | | 3.8 | | | — | | | 158.8 | | Other segment (income) expenses, net (1) | (106.2) | | | 1.8 | | | 79.5 | | | — | | | (24.9) | | Income (loss) from operations | 335.3 | | | 47.6 | | | (83.3) | | | — | | | 299.6 | | | Interest (income) expense, net | (16.4) | | | (0.2) | | | 58.7 | | | — | | | 42.1 | | Capital expenditures (2) | 316.1 | | | 1.6 | | | 2.4 | | | — | | | 320.1 | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | Refining | | Logistics | | Corporate | | Eliminations | | Consolidated Total | | Revenues | $ | 7,057.1 | | | $ | 94.5 | | | $ | — | | | $ | (85.2) | | | $ | 7,066.4 | | | Cost of products and other | 6,665.4 | | | 2.6 | | | — | | | (80.9) | | | 6,587.1 | | | Operating expenses (income) | 706.3 | | | 29.8 | | | — | | | (4.3) | | | 731.8 | | | Depreciation and amortization expense | 158.6 | | | 9.1 | | | 3.6 | | | — | | | 171.3 | | Other segment expenses, net (1) | — | | | 1.6 | | | 85.8 | | | — | | | 87.4 | | | Income (loss) from operations | (473.2) | | | 51.4 | | | (89.4) | | | — | | | (511.2) | | | Interest (income) expense, net | (4.5) | | | (0.2) | | | 41.6 | | | — | | | 36.9 | | | Capital expenditures | 215.6 | | | 2.4 | | | 0.3 | | | — | | | 218.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance at March 31, 2026 | | Refining | | Logistics | | Corporate | | Eliminations | | Consolidated Total | Total assets (3) | $ | 13,103.3 | | | $ | 670.0 | | | $ | 984.5 | | | $ | (39.2) | | | $ | 14,718.6 | | | | | | | | | | | | | Balance at December 31, 2025 | | Refining | | Logistics | | Corporate | | Eliminations | | Consolidated Total | Total assets (3) | $ | 11,469.1 | | | $ | 683.4 | | | $ | 906.3 | | | $ | (38.9) | | | $ | 13,019.9 | |
__________________________________(1) Other segment (income) expenses, net include General and administrative expenses (excluding depreciation and amortization expenses), Gain on insurance recoveries, net, Equity (gain) loss in investee, and Loss on sale of assets. (2) For the three months ended March 31, 2026, the Company’s refining segment Capital expenditures exclude $189.4 million of costs associated with the rebuild of units damaged by the Martinez refinery fire. (3) As of March 31, 2026 and December 31, 2025, Corporate assets include the Company’s Equity method investment in SBR of $833.4 million and $826.3 million, respectively.
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