XML 55 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues $ 4,797,847 $ 4,716,106
Cost and expenses:    
Cost of sales, excluding depreciation 4,435,101 4,660,193
Operating expenses, excluding depreciation 206,015 188,143
General and administrative expenses 30,094 13,814
Gain on sale of assets 0 (2,503)
Depreciation and amortization expense 26,532 20,542
Total cost and expenses 4,697,742 4,880,189
Income (loss) from operations 100,105 (164,083)
Other income (expense)    
Change in fair value of contingent consideration 0 (692)
Change in fair value of catalyst lease (1,339) (6,348)
Interest expense, net (21,611) (31,408)
Income (loss) before income taxes 77,155 (202,531)
Income tax expense (7,444) 0
Net income (loss) 69,711 (202,531)
Less: net income attributable to noncontrolling interest 58,305 [1]   
Net income attributable to PBF Energy Inc. 11,406  
Basic (in shares) 23,589,687  
Diluted (in shares) 97,415,576  
Basic (in usd per share) $ 0.48  
Diluted (in usd per share) $ 0.48  
Dividend per common share $ 0.30  
PBF Holding Company LLC [Member]
   
Revenues 4,797,847 4,716,106
Cost and expenses:    
Cost of sales, excluding depreciation 4,435,101 4,660,193
Operating expenses, excluding depreciation 206,015 188,143
General and administrative expenses 30,094 13,814
Gain on sale of assets 0 (2,503)
Depreciation and amortization expense 26,532 20,542
Total cost and expenses 4,697,742 4,880,189
Income (loss) from operations 100,105 (164,083)
Other income (expense)    
Change in fair value of contingent consideration 0 (692)
Change in fair value of catalyst lease (1,339) (6,348)
Interest expense, net (21,611) (31,408)
Net income (loss) $ 77,155 $ (202,531)
[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.