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NET INCOME PER SHARE OF PBF ENERGY
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
NET INCOME PER SHARE OF PBF ENERGY
NET INCOME PER SHARE OF PBF ENERGY
For the period subsequent to the IPO, the following table sets forth the computation of basic and diluted net income per common share attributable to PBF Energy:

Basic Earnings Per Share:
 
Numerator for basic net income per Class A common share-net income attributable to PBF Energy
$
11,406

Denominator for basic net income per Class A common share-weighted average shares
23,589,687

Basic net income attributable to PBF Energy per Class A common share
$
0.48

 
 
Diluted Earnings Per Share:
 
Numerator:
 
Net income attributable to PBF Energy
$
11,406

Plus: Net income attributable to noncontrolling interest (1)
58,305

Less: Income tax on net income attributable to noncontrolling interest (2)
(23,025
)
Numerator for diluted net income per Class A common share
$
46,686

 
 
Denominator:
 
Denominator for basic net income per Class A common share-weighted average shares
23,589,687

Effect of dilutive securities:
 
Conversion of PBF LLC Series A Units (3)
72,972,131

Common stock equivalents (4)
853,758

Denominator for diluted net income per common share-adjusted weighted average shares
97,415,576

Diluted net income attributable to PBF Energy per Class A common share
$
0.48

 
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(1)
Represents the elimination of the noncontrolling interest associated with the ownership by the members of PBF LLC other than PBF Energy as if such members had fully exchanged their Series A Units for shares of PBF Energy's Class A common stock.
(2)
Represents an adjustment to reflect PBF Energy's current effective corporate tax rate of approximately 39.5% applied to all periods presented. The adjustment assumes the full exchange of existing PBF LLC Series A Units as described in (1) above.
(3)
Represents an adjustment to weighted-average diluted shares to assume the full exchange of existing PBF LLC Series A Units as described in (1) above.
(4)
Represents an adjustment to weighted-average diluted shares outstanding to assume the full exchange of common stock equivalents, including options and warrants for PBF LLC Series A Units and options for shares of PBF Energy Class A common stock. Common stock equivalents excludes the effects of options to purchase 57,500 shares of PBF Energy Class A common stock because they are anti-dilutive.