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53
Reconciliation of net operating margin per barrel to refinery gross margin per barrel to total sales and other revenues
Years Ended December 31,
2013 2012 2011
(Dollars in thousands, except per barrel amounts)
Consolidated
Net operating margin per barrel $ 9.84 $ 19.40 $ 15.28
Add average refinery operating expenses per produced barrel 6.15 5.49 5.36
Refinery gross margin per barrel 15.99 24.89 20.64
Add average cost of products per produced barrel sold 99.61 94.59 98.18
Average sales price per produced barrel sold $ 115.60 $ 119.48 $ 118.82
Times sales of produced refined products sold (BPD) 410,730 431,060 332,720
Times number of days in period 365 366 365
Produced refined product sales $ 17,330,342 $ 18,850,116 $ 14,429,833
Total produced refined product sales $ 17,330,342 $ 18,850,116 $ 14,429,833
Add refined product sales from purchased products and rounding (1) 1,581,395 572,206 350,843
Total refined product sales 18,911,737 19,422,322 14,780,676
Add direct sales of excess crude oil (2) 1,052,915 505,971 558,855
Add other refining segment revenue (3) 140,791 114,662 52,899
Total refining segment revenue 20,105,443 20,042,955 15,392,430
Add HEP segment sales and other revenues 307,053 288,501 212,995
Add corporate and other revenues 1,314 1,048 1,098
Subtract consolidations and eliminations (253,250) (241,780) (166,995)
Sales and other revenues $ 20,160,560 $ 20,090,724 $ 15,439,528
(1) We purchase finished products when opportunities arise that provide a profit on the sale of such products, or to meet delivery
commitments.
(2) We purchase crude oil that at times exceeds the supply needs of our refineries. Quantities in excess of our needs are sold at market
prices to purchasers of crude oil that are recorded on a gross basis with the sales price recorded as revenues and the corresponding
acquisition cost as inventory and then upon sale as cost of products sold. Additionally, at times we enter into buy/sell exchanges of
crude oil with certain parties to facilitate the delivery of quantities to certain locations that are netted at carryover cost.
(3) Other refining segment revenue includes the incremental revenues associated with NK Asphalt and miscellaneous revenue.
(4) Other refining segment cost of products sold includes the incremental cost of products for NK Asphalt and miscellaneous costs.
(5) Other refining segment operating expenses include the marketing costs associated with our refining segment and the operating expenses
of NK Asphalt.
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