Overview Financials News + Filings Key Docs Charts Transactions Ownership Insiders
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Refining | 168,210.0 | 106,961.0 | 60,848.0 | 103,764.0 | 113,118.0 | 90,266.0 | 71,968.0 | 84,521.0 |
| Ethanol | 5,486.0 | 5,589.0 | 3,243.0 | 3,837.0 | 3,638.0 | 3,500.0 | 3,901.0 | 3,434.0 |
| Corporate | | | | 2.0 | 4.0 | 5.0 | | |
| Other | 2,687.0 | 1,427.0 | 821.0 | 721.0 | 273.0 | 209.0 | | |
| Total revenues | 176,383.0 | 113,977.0 | 64,912.0 | 108,324.0 | 117,033.0 | 93,980.0 | 75,659.0 | 87,804.0 |
| Revenue growth [+] | 54.8% | 75.6% | -40.1% | -7.4% | 24.5% | 24.2% | -13.8% | -32.9% |
| Refining | 57.3% | 75.8% | -41.4% | -8.3% | 25.3% | 25.4% | -14.9% | -32.9% |
| Ethanol | -1.8% | 72.3% | -15.5% | 5.5% | 3.9% | -10.3% | 13.6% | -29.0% |
| Corporate | | | | -50.0% | -20.0% | | | |
| VLP | | | | | | | 48.8% | |
| Cost of goods sold [+] | 321,602.0 | 224,054.0 | 133,607.0 | 209,315.0 | 224,940.0 | 180,945.0 | 71,312.0 | 80,689.0 |
| Excise and sales taxes | 5,194.0 | 5,645.0 | 4,797.0 | 5,595.0 | 5,626.0 | 5,573.0 | 5,493.0 | 5,980.0 |
| Refining and marketing costs | | | | | | | | 73,861.0 |
| Depreciation and amortization | 2,428.0 | 2,358.0 | 2,303.0 | 2,202.0 | 2,017.0 | 1,934.0 | 1,846.0 | 1,795.0 |
| Other direct costs | | | | 21.0 | 45.0 | 61.0 | | |
| Gross profit | -145,219.0 | -110,077.0 | -68,695.0 | -100,991.0 | -107,907.0 | -86,965.0 | 4,347.0 | 7,115.0 |
| Gross margin | -82.3% | -96.6% | -105.8% | -93.2% | -92.2% | -92.5% | 5.7% | 8.1% |
| Selling, general and administrative [+] | 934.0 | 865.0 | 756.0 | 868.0 | 925.0 | 829.0 | 709.0 | 710.0 |
| General and administrative | 934.0 | 865.0 | 756.0 | 868.0 | 925.0 | 829.0 | 709.0 | 710.0 |
| Other operating expenses | -161,949.0 | -113,119.0 | -67,920.0 | -105,748.0 | -113,456.0 | -91,409.0 | | |
| EBITDA [+] | 18,224.0 | 4,535.0 | 772.0 | 6,091.0 | 6,641.0 | 5,549.0 | 5,484.0 | 8,200.0 |
| EBITDA growth | 301.9% | 487.4% | -87.3% | -8.3% | 19.7% | 1.2% | -33.1% | 8.0% |
| EBITDA margin | 10.3% | 4.0% | 1.2% | 5.6% | 5.7% | 5.9% | 7.2% | 9.3% |
| Depreciation and amortization | 2,473.0 | 2,405.0 | 2,351.0 | 2,255.0 | 2,069.0 | 1,986.0 | 1,894.0 | 1,842.0 |
| EBIT [+] | 15,751.0 | 2,130.0 | -1,579.0 | 3,836.0 | 4,572.0 | 3,563.0 | 3,590.0 | 6,358.0 |
| EBIT growth | 639.5% | -234.9% | -141.2% | -16.1% | 28.3% | -0.8% | -43.5% | 7.7% |
| EBIT margin | 8.9% | 1.9% | -2.4% | 3.5% | 3.9% | 3.8% | 4.7% | 7.2% |
| Non-recurring items [+] | 61.0 | | | | | | 56.0 | |
| Asset impairment | 61.0 | | | | | | 56.0 | |
| Interest expense | 562.0 | 603.0 | 563.0 | 454.0 | 470.0 | 468.0 | 446.0 | 433.0 |
| Interest expense | 562.0 | 603.0 | 563.0 | 454.0 | 470.0 | 468.0 | 446.0 | 433.0 |
| Other income (expense), net | 179.0 | 16.0 | 132.0 | 104.0 | 130.0 | 112.0 | 94.0 | 46.0 |
| Pre-tax income | 15,307.0 | 1,543.0 | -2,010.0 | 3,486.0 | 4,232.0 | 3,207.0 | 3,182.0 | 5,971.0 |
| Income taxes | 3,428.0 | 255.0 | -903.0 | 702.0 | 879.0 | -949.0 | 765.0 | 1,870.0 |
| Tax rate | 22.4% | 16.5% | 44.9% | 20.1% | 20.8% | | 24.0% | 31.3% |
| Minority interest | 351.0 | 358.0 | 314.0 | 362.0 | 231.0 | 91.0 | 128.0 | 111.0 |
| Net income | 11,528.0 | 930.0 | -1,421.0 | 2,422.0 | 3,122.0 | 4,065.0 | 2,289.0 | 3,990.0 |
| Net margin | 6.5% | 0.8% | -2.2% | 2.2% | 2.7% | 4.3% | 3.0% | 4.5% |
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| Basic EPS [+] | $29.18 | $2.29 | ($3.49) | $5.86 | $7.33 | $9.20 | $4.97 | $8.03 |
| Growth | 1177.2% | -165.4% | -159.5% | -20.0% | -20.3% | 85.2% | -38.2% | -43.0% |
| Diluted EPS [+] | $29.11 | $2.29 | ($3.49) | $5.85 | $7.29 | $9.16 | $4.93 | $7.98 |
| Growth | 1174.0% | -165.4% | -159.7% | -19.8% | -20.3% | 85.6% | -38.2% | -42.9% |
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| Dividends per share [+] | $3.95 | $3.94 | $3.93 | $3.61 | $3.21 | $2.81 | $2.41 | $1.70 |
| Growth | 0.5% | 0.1% | 8.8% | 12.4% | 14.4% | 16.6% | 41.8% | 61.9% |
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| Shares outstanding (basic) [+] | 395.0 | 407.0 | 407.0 | 413.0 | 426.0 | 442.0 | 461.0 | 497.0 |
| Growth | -2.9% | 0.0% | -1.5% | -3.1% | -3.6% | -4.1% | -7.2% | -5.5% |
| Shares outstanding (diluted) [+] | 396.0 | 407.0 | 407.0 | 414.0 | 428.0 | 444.0 | 464.0 | 500.0 |
| Growth | -2.7% | 0.0% | -1.7% | -3.3% | -3.6% | -4.3% | -7.2% | -5.7% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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