2017 Q4 Form 10-Q Financial Statement
#000151029517000098 Filed on October 30, 2017
Income Statement
Concept | 2017 Q4 | 2017 Q3 | 2016 Q3 |
---|---|---|---|
Revenue | $21.06B | $19.21B | $16.62B |
YoY Change | 22.73% | 15.6% | -11.21% |
Cost Of Revenue | $19.01B | $16.62B | $14.97B |
YoY Change | 21.57% | 11.02% | -8.48% |
Gross Profit | $2.229B | $2.593B | $1.492B |
YoY Change | 35.75% | 73.79% | -37.89% |
Gross Profit Margin | 10.59% | 13.5% | 8.98% |
Selling, General & Admin | $523.0M | $411.0M | $420.0M |
YoY Change | 4.39% | -2.14% | 7.14% |
% of Gross Profit | 23.46% | 15.85% | 28.15% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $540.0M | $517.0M | $507.0M |
YoY Change | 7.14% | 1.97% | 39.29% |
% of Gross Profit | 24.23% | 19.94% | 33.98% |
Operating Expenses | $1.063B | $411.0M | $420.0M |
YoY Change | 5.77% | -2.14% | 7.14% |
Operating Profit | $1.168B | $1.577B | $435.0M |
YoY Change | 111.21% | 262.53% | -71.92% |
Interest Expense | -$149.0M | -$150.0M | -$154.0M |
YoY Change | -29.38% | -2.6% | -302.63% |
% of Operating Profit | -12.76% | -9.51% | -35.4% |
Other Income/Expense, Net | -$56.00M | -$6.000M | -$6.000M |
YoY Change | 273.33% | 0.0% | 0.0% |
Pretax Income | $959.0M | $1.419B | $294.0M |
YoY Change | 129.98% | 382.65% | -80.12% |
Income Tax | $334.0M | $415.0M | $75.00M |
% Of Pretax Income | 34.83% | 29.25% | 25.51% |
Net Earnings | $2.016B | $903.0M | $145.0M |
YoY Change | 788.11% | 522.76% | -84.7% |
Net Earnings / Revenue | 9.57% | 4.7% | 0.87% |
Basic Earnings Per Share | $4.13 | $1.79 | $0.28 |
Diluted Earnings Per Share | $4.09 | $1.77 | $0.27 |
COMMON SHARES | |||
Basic Shares Outstanding | 488.4M shares | 504.0M shares | 527.0M shares |
Diluted Shares Outstanding | 508.0M shares | 530.0M shares |
Balance Sheet
Concept | 2017 Q4 | 2017 Q3 | 2016 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $3.011B | $2.088B | $709.0M |
YoY Change | 239.46% | 194.5% | -65.31% |
Cash & Equivalents | $3.011B | $2.088B | $709.0M |
Short-Term Investments | |||
Other Short-Term Assets | $145.0M | $150.0M | $176.0M |
YoY Change | -39.83% | -14.77% | 28.47% |
Inventory | $5.550B | $5.493B | $5.524B |
Prepaid Expenses | |||
Receivables | $4.695B | $3.900B | $3.136B |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $13.40B | $11.63B | $9.545B |
YoY Change | 28.84% | 21.85% | -12.12% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $26.44B | $26.04B | $25.70B |
YoY Change | 2.63% | 1.32% | 57.71% |
Goodwill | $3.586B | $3.586B | $3.648B |
YoY Change | -0.03% | -1.7% | 133.1% |
Intangibles | $631.0M | ||
YoY Change | -12.97% | ||
Long-Term Investments | $4.787B | $4.769B | $3.554B |
YoY Change | 25.08% | 34.19% | 231.22% |
Other Assets | $830.0M | $784.0M | $849.0M |
YoY Change | -0.36% | -7.66% | 130.71% |
Total Long-Term Assets | $35.65B | $35.18B | $33.75B |
YoY Change | 4.8% | 4.23% | 74.86% |
TOTAL ASSETS | |||
Total Short-Term Assets | $13.40B | $11.63B | $9.545B |
Total Long-Term Assets | $35.65B | $35.18B | $33.75B |
Total Assets | $49.05B | $46.81B | $43.29B |
YoY Change | 10.43% | 8.11% | 43.54% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $8.297B | $6.159B | $5.055B |
YoY Change | 48.35% | 21.84% | 1.24% |
Accrued Expenses | $1.092B | $830.0M | $768.0M |
YoY Change | 9.86% | 8.07% | 1.19% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $624.0M | $29.00M | $28.00M |
YoY Change | 2128.57% | 3.57% | -96.41% |
Total Short-Term Liabilities | $10.48B | $7.647B | $6.340B |
YoY Change | 46.63% | 20.62% | -17.51% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $12.32B | $12.75B | $10.54B |
YoY Change | 16.86% | 21.02% | 78.25% |
Other Long-Term Liabilities | $1.765B | $1.669B | $1.776B |
YoY Change | 6.39% | -6.02% | 4.72% |
Total Long-Term Liabilities | $14.09B | $14.42B | $12.31B |
YoY Change | 15.44% | 17.12% | 61.86% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $10.48B | $7.647B | $6.340B |
Total Long-Term Liabilities | $14.09B | $14.42B | $12.31B |
Total Liabilities | $27.22B | $26.00B | $22.34B |
YoY Change | 17.27% | 16.42% | 29.59% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $12.86B | $11.04B | $10.17B |
YoY Change | 26.04% | 8.6% | 4.45% |
Common Stock | $11.27B | $11.24B | $11.01B |
YoY Change | 1.83% | 2.1% | 10.83% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $9.869B | $9.118B | $7.459B |
YoY Change | 31.9% | 22.24% | 5.31% |
Treasury Stock Shares | 248.0M shares | 235.0M shares | 203.0M shares |
Shareholders Equity | $14.03B | $12.93B | $13.40B |
YoY Change | |||
Total Liabilities & Shareholders Equity | $49.05B | $46.81B | $43.29B |
YoY Change | 10.43% | 8.11% | 43.54% |
Cashflow Statement
Concept | 2017 Q4 | 2017 Q3 | 2016 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $2.016B | $903.0M | $145.0M |
YoY Change | 788.11% | 522.76% | -84.7% |
Depreciation, Depletion And Amortization | $540.0M | $517.0M | $507.0M |
YoY Change | 7.14% | 1.97% | 39.29% |
Cash From Operating Activities | $2.745B | $1.905B | $412.0M |
YoY Change | 170.44% | 362.38% | -61.46% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$804.0M | -$663.0M | -$716.0M |
YoY Change | 7.92% | -7.4% | 39.57% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $23.00M | $58.00M | -$5.000M |
YoY Change | -560.0% | -1260.0% | -91.53% |
Cash From Investing Activities | -$781.0M | -$605.0M | -$721.0M |
YoY Change | 4.13% | -16.09% | 26.05% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $452.0M | $51.00M | |
YoY Change | 786.27% | -67.31% | |
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -1.044B | -660.0M | -736.0M |
YoY Change | 1047.25% | -10.33% | 120.36% |
NET CHANGE | |||
Cash From Operating Activities | 2.745B | 1.905B | 412.0M |
Cash From Investing Activities | -781.0M | -605.0M | -721.0M |
Cash From Financing Activities | -1.044B | -660.0M | -736.0M |
Net Change In Cash | 920.0M | 640.0M | -1.045B |
YoY Change | 428.74% | -161.24% | -741.1% |
FREE CASH FLOW | |||
Cash From Operating Activities | $2.745B | $1.905B | $412.0M |
Capital Expenditures | -$804.0M | -$663.0M | -$716.0M |
Free Cash Flow | $3.549B | $2.568B | $1.128B |
YoY Change | 101.65% | 127.66% | -28.7% |
Facts In Submission
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CY2017Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2088000000 | USD |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-418000000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
1201000000 | USD | |
CY2016Q4 | us-gaap |
Commercial Paper
CommercialPaper
|
0 | USD |
CY2017Q3 | us-gaap |
Commercial Paper
CommercialPaper
|
0 | USD |
CY2016Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2017Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2016Q3 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.36 | |
us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
1.00 | ||
CY2017Q3 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.40 | |
us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
1.12 | ||
CY2017Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2017Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
1000000000 | shares |
CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
731000000 | shares |
CY2017Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
733000000 | shares |
CY2016Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
7000000 | USD |
CY2017Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
7000000 | USD |
CY2016Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
139000000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
938000000 | USD | |
CY2017Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
900000000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1411000000 | USD | |
CY2016Q3 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
213000000 | USD |
us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
915000000 | USD | |
CY2017Q3 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
1001000000 | USD |
us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
1674000000 | USD | |
us-gaap |
Contribution Of Property
ContributionOfProperty
|
0 | USD | |
us-gaap |
Contribution Of Property
ContributionOfProperty
|
337000000 | USD | |
CY2016Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
16025000000 | USD |
us-gaap |
Costs And Expenses
CostsAndExpenses
|
44255000000 | USD | |
CY2017Q3 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
17810000000 | USD |
us-gaap |
Costs And Expenses
CostsAndExpenses
|
51283000000 | USD | |
CY2016Q3 | us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
128000000 | USD |
us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
359000000 | USD | |
CY2017Q3 | us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
148000000 | USD |
us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
420000000 | USD | |
CY2016Q4 | us-gaap |
Crude Oil And Natural Gas Liquids
CrudeOilAndNaturalGasLiquids
|
2208000000 | USD |
CY2017Q3 | us-gaap |
Crude Oil And Natural Gas Liquids
CrudeOilAndNaturalGasLiquids
|
2147000000 | USD |
CY2016Q4 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
|
11069000000 | USD |
CY2017Q3 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
|
13269000000 | USD |
CY2016Q4 | us-gaap |
Debt Current
DebtCurrent
|
28000000 | USD |
CY2017Q3 | us-gaap |
Debt Current
DebtCurrent
|
29000000 | USD |
CY2016Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
453000000 | USD |
CY2017Q3 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
426000000 | USD |
CY2016Q4 | us-gaap |
Deferred Credits And Other Liabilities Noncurrent
DeferredCreditsAndOtherLiabilitiesNoncurrent
|
604000000 | USD |
CY2017Q3 | us-gaap |
Deferred Credits And Other Liabilities Noncurrent
DeferredCreditsAndOtherLiabilitiesNoncurrent
|
640000000 | USD |
CY2016Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
44000000 | USD |
CY2017Q3 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
61000000 | USD |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
335000000 | USD | |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
57000000 | USD | |
CY2016Q4 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
3861000000 | USD |
CY2017Q3 | us-gaap |
Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
|
3935000000 | USD |
CY2016Q3 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
507000000 | USD |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1497000000 | USD | |
CY2017Q3 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
517000000 | USD |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1574000000 | USD | |
CY2016Q4 | us-gaap |
Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
|
24000000 | USD |
CY2017Q3 | us-gaap |
Derivative Liability Collateral Right To Reclaim Cash Offset
DerivativeLiabilityCollateralRightToReclaimCashOffset
|
39000000 | USD |
us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
530000000 | USD | |
us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
578000000 | USD | |
CY2016Q4 | us-gaap |
Due From Related Parties Current
DueFromRelatedPartiesCurrent
|
45000000 | USD |
CY2017Q3 | us-gaap |
Due From Related Parties Current
DueFromRelatedPartiesCurrent
|
40000000 | USD |
CY2016Q4 | us-gaap |
Due From Related Parties Noncurrent
DueFromRelatedPartiesNoncurrent
|
1000000 | USD |
CY2017Q3 | us-gaap |
Due From Related Parties Noncurrent
DueFromRelatedPartiesNoncurrent
|
1000000 | USD |
CY2016Q4 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
53000000 | USD |
CY2017Q3 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
64000000 | USD |
CY2016Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.28 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.79 | ||
CY2017Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.79 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.75 | ||
CY2016Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.27 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.78 | ||
CY2017Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.77 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.73 | ||
us-gaap |
Effect Of Lifo Inventory Liquidation On Income
EffectOfLIFOInventoryLiquidationOnIncome
|
0 | USD | |
CY2016Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.26 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.34 | ||
CY2017Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.29 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.30 | ||
CY2016Q3 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | ||
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | ||
CY2016Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
530000000 | USD |
CY2017Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
459000000 | USD |
us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
199000000 | USD | |
us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
252000000 | USD | |
CY2016Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
3827000000 | USD |
CY2017Q3 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
4769000000 | USD |
CY2016Q3 | us-gaap |
Excise And Sales Taxes
ExciseAndSalesTaxes
|
1914000000 | USD |
us-gaap |
Excise And Sales Taxes
ExciseAndSalesTaxes
|
5633000000 | USD | |
CY2017Q3 | us-gaap |
Excise And Sales Taxes
ExciseAndSalesTaxes
|
2012000000 | USD |
us-gaap |
Excise And Sales Taxes
ExciseAndSalesTaxes
|
5751000000 | USD | |
CY2016Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
|
-6000000 | USD |
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
|
-33000000 | USD | |
CY2017Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
|
-22000000 | USD |
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
|
-8000000 | USD | |
CY2016Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
|
0 | USD |
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
|
200000000 | USD | |
CY2017Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
|
0 | USD |
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
|
131000000 | USD | |
CY2015Q4 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
342000000 | USD |
CY2016Q2 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
171000000 | USD |
CY2016Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
176000000 | USD |
CY2016Q4 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
190000000 | USD |
CY2017Q2 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
41000000 | USD |
CY2017Q3 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
|
57000000 | USD |
CY2016Q3 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
|
-1000000 | USD |
us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
|
1000000 | USD | |
CY2017Q3 | us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
|
-6000000 | USD |
us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
|
-10000000 | USD | |
CY2016Q3 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
1000000 | USD |
us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
26000000 | USD | |
CY2017Q3 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
0 | USD |
us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
12000000 | USD | |
CY2016Q4 | us-gaap |
Goodwill
Goodwill
|
3587000000 | USD |
CY2017Q3 | us-gaap |
Goodwill
Goodwill
|
3586000000 | USD |
CY2016Q3 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD |
us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
130000000 | USD | |
CY2017Q3 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD |
us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | USD | |
CY2016Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
294000000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1405000000 | USD | |
CY2017Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1419000000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2385000000 | USD | |
CY2016Q3 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-208000000 | USD |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-236000000 | USD | |
CY2017Q3 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
84000000 | USD |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
224000000 | USD | |
CY2016Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
75000000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
481000000 | USD | |
CY2017Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
415000000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
706000000 | USD | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
28000000 | USD | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
383000000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
237000000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
654000000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
209000000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
296000000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-71000000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-163000000 | USD | |
CY2016Q3 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
141000000 | USD |
us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
420000000 | USD | |
CY2017Q3 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
157000000 | USD |
us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
465000000 | USD | |
CY2016Q3 | us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
15000000 | USD |
us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
47000000 | USD | |
CY2017Q3 | us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
14000000 | USD |
us-gaap |
Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
|
47000000 | USD | |
CY2016Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
153000000 | USD |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
455000000 | USD | |
CY2017Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
172000000 | USD |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
508000000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
400000000 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
446000000 | USD | |
CY2016Q3 | us-gaap |
Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
|
0 | USD |
us-gaap |
Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
|
-370000000 | USD | |
CY2017Q3 | us-gaap |
Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
|
0 | USD |
us-gaap |
Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
|
0 | USD | |
CY2016Q4 | us-gaap |
Inventory Net
InventoryNet
|
5656000000 | USD |
CY2017Q3 | us-gaap |
Inventory Net
InventoryNet
|
5493000000 | USD |
CY2016Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
3000000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
5000000 | USD | |
CY2017Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
7000000 | USD |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
16000000 | USD | |
CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
23210000000 | USD |
CY2017Q3 | us-gaap |
Liabilities
Liabilities
|
26004000000 | USD |
CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
44413000000 | USD |
CY2017Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
46806000000 | USD |
CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
7146000000 | USD |
CY2017Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
7647000000 | USD |
CY2016Q4 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
10544000000 | USD |
CY2017Q3 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
12753000000 | USD |
us-gaap |
Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
|
694000000 | USD | |
CY2016Q4 | us-gaap |
Minority Interest
MinorityInterest
|
6646000000 | USD |
CY2017Q3 | us-gaap |
Minority Interest
MinorityInterest
|
6872000000 | USD |
us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
380000000 | USD | |
us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
456000000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1203000000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-47000000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2217000000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2615000000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
3002000000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
3863000000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
145000000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
947000000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
903000000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1416000000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
|
58000000 | USD |
us-gaap |
Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
|
-48000000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
|
85000000 | USD |
us-gaap |
Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossAttributableToNonredeemableNoncontrollingInterest
|
214000000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
|
16000000 | USD |
us-gaap |
Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
|
25000000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
|
16000000 | USD |
us-gaap |
Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
|
49000000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
145000000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
946000000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
903000000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
1415000000 | USD | |
CY2016Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
145000000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
946000000 | USD | |
CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
903000000 | USD |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
1415000000 | USD | |
us-gaap |
Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
|
899000000 | USD | |
us-gaap |
Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
|
1630000000 | USD | |
us-gaap |
Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
|
4000000 | USD | |
us-gaap |
Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
|
128000000 | USD | |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | Segment | |
CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
435000000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1825000000 | USD | |
CY2017Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1576000000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
2850000000 | USD | |
CY2016Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
241000000 | USD |
CY2017Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
150000000 | USD |
CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
833000000 | USD |
CY2017Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
784000000 | USD |
us-gaap |
Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
|
-37000000 | USD | |
us-gaap |
Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
|
-31000000 | USD | |
us-gaap |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
|
-7000000 | USD | |
us-gaap |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
|
-2000000 | USD | |
CY2016Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-6000000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-9000000 | USD | |
CY2017Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-3000000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-5000000 | USD | |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
|
-29000000 | USD | |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
|
-26000000 | USD | |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
|
0 | USD | |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
|
-2000000 | USD | |
CY2016Q3 | us-gaap |
Other Financial Services Costs
OtherFinancialServicesCosts
|
6000000 | USD |
us-gaap |
Other Financial Services Costs
OtherFinancialServicesCosts
|
17000000 | USD | |
CY2017Q3 | us-gaap |
Other Financial Services Costs
OtherFinancialServicesCosts
|
6000000 | USD |
us-gaap |
Other Financial Services Costs
OtherFinancialServicesCosts
|
20000000 | USD | |
CY2016Q4 | us-gaap |
Other Inventory Supplies
OtherInventorySupplies
|
485000000 | USD |
CY2017Q3 | us-gaap |
Other Inventory Supplies
OtherInventorySupplies
|
486000000 | USD |
CY2016Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
378000000 | USD |
CY2017Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
268000000 | USD |
us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
-54000000 | USD | |
us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
-99000000 | USD | |
CY2016Q3 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
49000000 | USD |
us-gaap |
Other Operating Income
OtherOperatingIncome
|
106000000 | USD | |
CY2017Q3 | us-gaap |
Other Operating Income
OtherOperatingIncome
|
92000000 | USD |
us-gaap |
Other Operating Income
OtherOperatingIncome
|
219000000 | USD | |
us-gaap |
Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
|
984000000 | USD | |
us-gaap |
Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
|
164000000 | USD | |
us-gaap |
Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
|
89000000 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-62000000 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-164000000 | USD | |
CY2016Q3 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
51000000 | USD |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
177000000 | USD | |
CY2017Q3 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
452000000 | USD |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
1622000000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
11000000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
28000000 | USD | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
529000000 | USD | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
578000000 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
0 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
249000000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2147000000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1928000000 | USD | |
us-gaap |
Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
|
240000000 | USD | |
us-gaap |
Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
|
730000000 | USD | |
us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
389000000 | USD | |
us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
505000000 | USD | |
CY2016Q4 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
1055000000 | USD |
CY2017Q3 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
1029000000 | USD |
CY2017Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2017Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
30000000 | shares |
us-gaap |
Refining And Marketing Revenue
RefiningAndMarketingRevenue
|
53220000000 | USD | |
CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2017Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2017Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
us-gaap |
Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
|
20000000 | USD | |
us-gaap |
Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
|
64000000 | USD | |
us-gaap |
Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
|
1063000000 | USD | |
us-gaap |
Proceeds From Issuance Of Commercial Paper
ProceedsFromIssuanceOfCommercialPaper
|
300000000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
|
499000000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
|
473000000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
8000000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
27000000 | USD | |
us-gaap |
Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
|
714000000 | USD | |
us-gaap |
Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
|
2661000000 | USD | |
us-gaap |
Proceeds From Issuance Of Preferred Limited Partners Units
ProceedsFromIssuanceOfPreferredLimitedPartnersUnits
|
984000000 | USD | |
us-gaap |
Proceeds From Issuance Of Preferred Limited Partners Units
ProceedsFromIssuanceOfPreferredLimitedPartnersUnits
|
0 | USD | |
us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
4000000 | USD | |
us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
128000000 | USD | |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-30000000 | USD | |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-44000000 | USD | |
us-gaap |
Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
|
88000000 | USD | |
us-gaap |
Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
|
64000000 | USD | |
CY2016Q3 | us-gaap |
Profit Loss
ProfitLoss
|
219000000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
924000000 | USD | |
CY2017Q3 | us-gaap |
Profit Loss
ProfitLoss
|
1004000000 | USD |
us-gaap |
Profit Loss
ProfitLoss
|
1679000000 | USD | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
38006000000 | USD |
CY2017Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
39718000000 | USD |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
25765000000 | USD |
CY2017Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
26036000000 | USD |
CY2016Q4 | us-gaap |
Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
|
58000000 | USD |
CY2017Q3 | us-gaap |
Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
|
45000000 | USD |
CY2015Q4 | us-gaap |
Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
|
0 | USD |
CY2016Q3 | us-gaap |
Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
|
1000000000 | USD |
CY2016Q4 | us-gaap |
Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
|
1000000000 | USD |
CY2017Q3 | us-gaap |
Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
|
1000000000 | USD |
CY2016Q3 | us-gaap |
Refining And Marketing Costs
RefiningAndMarketingCosts
|
12944000000 | USD |
us-gaap |
Refining And Marketing Costs
RefiningAndMarketingCosts
|
35475000000 | USD | |
CY2017Q3 | us-gaap |
Refining And Marketing Costs
RefiningAndMarketingCosts
|
14605000000 | USD |
us-gaap |
Refining And Marketing Costs
RefiningAndMarketingCosts
|
41913000000 | USD | |
CY2016Q3 | us-gaap |
Refining And Marketing Revenue
RefiningAndMarketingRevenue
|
16616000000 | USD |
us-gaap |
Refining And Marketing Revenue
RefiningAndMarketingRevenue
|
46179000000 | USD | |
CY2017Q3 | us-gaap |
Refining And Marketing Revenue
RefiningAndMarketingRevenue
|
19053000000 | USD |
CY2016Q3 | us-gaap |
Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
|
12000000 | USD |
us-gaap |
Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
|
31000000 | USD | |
CY2017Q3 | us-gaap |
Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
|
13000000 | USD |
us-gaap |
Related Party Transaction Other Revenues From Transactions With Related Party
RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty
|
39000000 | USD | |
CY2016Q3 | us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
128000000 | USD |
us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
359000000 | USD | |
CY2017Q3 | us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
148000000 | USD |
us-gaap |
Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
|
420000000 | USD | |
us-gaap |
Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
|
1063000000 | USD | |
us-gaap |
Repayments Of Commercial Paper
RepaymentsOfCommercialPaper
|
300000000 | USD | |
us-gaap |
Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
|
2112000000 | USD | |
us-gaap |
Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
|
470000000 | USD | |
CY2016Q4 | us-gaap |
Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
|
153000000 | USD |
CY2017Q3 | us-gaap |
Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
|
154000000 | USD |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
10206000000 | USD |
CY2017Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
11044000000 | USD |
CY2016Q3 | us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
2000000 | USD |
us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
5000000 | USD | |
CY2017Q3 | us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
157000000 | USD |
us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
458000000 | USD | |
CY2016Q4 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
464000000 | USD |
CY2017Q3 | us-gaap |
Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
|
371000000 | USD |
CY2016Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
420000000 | USD |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
1199000000 | USD | |
CY2017Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
412000000 | USD |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
1286000000 | USD | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
1000000 | USD | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
13000000 | USD | |
CY2017Q2 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
3000000000 | USD |
CY2017Q3 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
3940000000 | USD |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13557000000 | USD |
CY2017Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
12930000000 | USD |
CY2015Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
19675000000 | USD |
CY2016Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
19957000000 | USD |
CY2016Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
20203000000 | USD |
CY2017Q3 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
19802000000 | USD |
CY2016Q3 | us-gaap |
Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
|
112000000 | USD |
us-gaap |
Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
|
332000000 | USD | |
CY2017Q3 | us-gaap |
Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
|
116000000 | USD |
us-gaap |
Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
|
339000000 | USD | |
us-gaap |
Temporary Equity Other Changes
TemporaryEquityOtherChanges
|
-9000000 | USD | |
us-gaap |
Temporary Equity Other Changes
TemporaryEquityOtherChanges
|
-49000000 | USD | |
CY2016Q3 | us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
42.76 | |
us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
41.14 | ||
CY2017Q3 | us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
53.85 | |
us-gaap |
Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
|
52.16 | ||
CY2016Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
203000000 | shares |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
3000000 | shares | |
us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
1622000000 | USD | |
CY2017Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
235000000 | shares |
CY2016Q3 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
1000000 | shares |
us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
4000000 | shares | |
CY2017Q3 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
8000000 | shares |
us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
31000000 | shares | |
CY2016Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
7482000000 | USD |
CY2017Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
9118000000 | USD |
us-gaap |
Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
|
177000000 | USD | |
CY2016Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | USD |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
1000000 | USD | |
CY2017Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
0 | USD |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
1000000 | USD | |
CY2016Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
0 | USD |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
1000000 | USD | |
CY2017Q3 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
0 | USD |
us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
1000000 | USD | |
us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-6000000 | USD | |
us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
-101000000 | USD | |
CY2017Q3 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
19000000 | USD |
CY2016Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
3000000 | shares |
CY2017Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
4000000 | shares |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
4000000 | shares | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
530000000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
531000000 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
508000000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
518000000 | shares | |
CY2016Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
527000000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
528000000 | shares | |
CY2017Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
504000000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
514000000 | shares | |
us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Not Yet Adopted</font></div><div style="line-height:120%;padding-top:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2017, the FASB issued accounting standards update to amend the hedge accounting rules to simplify the application of hedge accounting guidance and better portray the economic results of risk management activities in the financial statements. The guidance expands the ability to hedge nonfinancial and financial risk components, reduces complexity in fair value hedges of interest rate risk, eliminates the requirement to separately measure and report hedge ineffectiveness, as well as eases certain hedge effectiveness assessment requirements. The guidance is effective beginning in 2019 with early adoption permitted. We are currently evaluating the impact of this guidance, including transition elections and required disclosures, on our financial statements and the timing of adoption.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2017, the FASB issued an accounting standards update to provide guidance about when changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. An entity should account for the effects of a modification unless the fair value, vesting conditions and balance sheet classification of the modified award is the same as the original award immediately before the original award is modified. We will adopt this accounting standards update January 1, 2018. This update should be applied prospectively to an award modified on or after the adoption date. We do not expect the application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2017, the FASB issued an accounting standards update requiring that the service cost component of pension and postretirement benefit costs be presented in the same line item as other current employee compensation costs and other components of those benefit costs be presented separately from the service cost component and outside a subtotal of income from operations, if presented.  The update also requires that only the service cost component of pension and postretirement benefit cost is eligible for capitalization. We will adopt this accounting standards update January 1, 2018. Application is retrospective for the presentation of the components of these benefit costs and prospective for the capitalization of only service costs. We do not expect the application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2017, the FASB issued an accounting standards update addressing the derecognition of nonfinancial assets. The guidance defines in substance nonfinancial assets, and states that the derecognition of business activities should be evaluated under the consolidation guidance, with limited exceptions related to conveyances of oil and gas mineral rights or contracts with customers. The standard eliminates the previous exclusion for businesses that are in-substance real estate, and eliminates some differences based on whether a transferred set is that of assets or a business and whether the transfer is to a joint venture. The standard must be implemented in conjunction with the implementation date of the revenue recognition accounting standards update, which we will implement January 1, 2018. We plan to adopt the new standard using the modified retrospective method and do not expect the application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued an accounting standards update which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the new guidance, the recognition of an impairment charge is calculated based on the amount by which the carrying amount exceeds the reporting unit’s fair value, which could be different from the amount calculated under the current method using the implied fair value of the goodwill; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The guidance should be applied on a prospective basis, and is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued an accounting standards update to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The standard is intended to narrow the definition of a business by specifying the minimum inputs and processes and by narrowing the definition of outputs. The change is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The guidance will be applied prospectively and early adoption is permitted for certain transactions. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2016, the FASB issued an accounting standards update requiring that the statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. The change is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. Retrospective application is required. Application of this accounting standards update will not have a material impact on our statements of cash flows.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> In October 2016, the FASB issued an accounting standards update that requires recognition of the income tax consequences of intra-entity transfers of assets other than inventory when the transfer occurs. The change is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The amendments in this accounting standards update should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. We do not expect application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the FASB issued an accounting standards update related to the classification of certain cash flows. The accounting standards update provides specific guidance on eight cash flow classification issues, including debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination and distributions received from equity method investees, to reduce diversity in practice. The change is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. Retrospective application is required. We do not expect application of this accounting standards update to have a material impact on our statements of cash flows.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, the FASB issued an accounting standards update related to the accounting for credit losses on certain financial instruments. The guidance requires that for most financial assets, losses be based on an expected loss approach which includes estimates of losses over the life of exposure that considers historical, current and forecasted information. Expanded disclosures related to the methods used to estimate the losses as well as a specific disaggregation of balances for financial assets are also required. The change is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. We do not expect application of this accounting standards update to have a material impact on our consolidated financial statements. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued an accounting standards update requiring lessees to record virtually all leases on their balance sheets. The accounting standards update also requires expanded disclosures to help financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. For lessors, this amended guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. The change will be effective on a modified retrospective basis for fiscal years beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. We are currently evaluating the impact of this standard on our financial statements and disclosures, internal controls and accounting policies. This evaluation process includes reviewing all forms of leases, performing a completeness assessment over the lease population and analyzing the practical expedients in order to determine the best path of implementing changes to existing processes and controls along with necessary system implementations. We do not plan to early adopt the standard. We believe the impact will be material on the consolidated financial statements as all leases will be recognized as a right of use asset and lease obligation. Based on results of our evaluation process to date, we also believe the impact on our existing processes, controls and information systems may be material. </font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2016, the FASB issued an accounting standards update requiring unconsolidated equity investments, not accounted for under the equity method, to be measured at fair value with changes in fair value recognized in net income. The accounting standards update also requires the use of the exit price notion when measuring the fair value of financial instruments for disclosure purposes and the separate presentation of financial assets and liabilities by measurement category and form on the balance sheet and accompanying notes. The accounting standards update eliminates the requirement to disclose the methods and assumptions used in estimating the fair value of financial instruments measured at amortized cost. Lastly, the accounting standards update requires separate presentation in other comprehensive income of the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when electing to measure the liability at fair value in accordance with the fair value option for financial instruments. The changes are effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2017. Early adoption is permitted only for the guidance regarding presentation of a liability’s credit risk. We do not expect application of this accounting standards update to have a material impact on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued an accounting standards update for revenue recognition for contracts with customers. The guidance in the accounting standards update states that revenue is recognized when a customer obtains control of a good or service. Recognition of the revenue will involve a multiple step approach including identifying the contract, identifying the separate performance obligations, determining the transaction price, allocating the price to the performance obligations and recognizing the revenue as the obligations are satisfied. Additional disclosures will be required to provide adequate information to understand the nature, amount, timing and uncertainty of reported revenues and revenues expected to be recognized. We will adopt the standard January 1, 2018, using the modified retrospective method, which will result in a cumulative effect adjustment as of the date of adoption. We are currently evaluating the impact of this standard on our financial statements and disclosures, internal controls and accounting policies. Based on the results to date, we have reached tentative conclusions for most contract types and do not believe revenue recognition patterns will change materially. We do expect certain contracts in our Midstream segment to be presented on a gross revenue recognition basis as a result of implementation. In addition, we expect to elect to change our presentation of consumer excise taxes incurred concurrently with revenue producing transactions from gross to net upon the adoption of this accounting standards update. Based on the results of our evaluation process to date, we do not expect our existing revenue recognition processes, controls and information systems to materially change.</font></div></div> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These interim consolidated financial statements are unaudited; however, in the opinion of our management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules of the SEC applicable to interim period financial statements and do not include all of the information and disclosures required by GAAP for complete financial statements.</font></div></div> |