XML 95 R76.htm IDEA: XBRL DOCUMENT v3.8.0.1
CREDIT FACILITY AND LONG-TERM DEBT (Summary of Long-Term Debt) (Details) - USD ($)
Dec. 31, 2017
Dec. 31, 2016
May 12, 2015
May 14, 2014
Debt Instrument [Line Items]        
Long-term debt $ 2,220,488,000 $ 2,180,700,000    
Long-term Debt 2,217,114,000      
Unamortized Debt Issuance Expense (34,459,000) (32,466,000)    
Debt, Long-term and Short-term, Combined Amount 2,186,029,000 2,148,234,000    
Less—Current maturities (10,987,000) (39,664,000)    
Total long-term debt 2,175,042,000 2,108,570,000    
Revolving Credit Facility [Member]        
Debt Instrument [Line Items]        
Long-term Line of Credit [1]   350,000,000    
2025 Senior Notes [Member]        
Debt Instrument [Line Items]        
Long-term debt   0    
Long-term Debt [2] 725,000,000 0    
Line of Credit [Member] | Revolving Credit Facility [Member]        
Debt Instrument [Line Items]        
Long-term Line of Credit [1] 350,000,000 350,000,000    
PBFX Senior Notes [Member]        
Debt Instrument [Line Items]        
Debt fixed interest rate     6.875%  
Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Long-term debt   45,969,000    
Senior Secured Notes [Member]        
Debt Instrument [Line Items]        
Long-term Debt [2] 0 670,867,000    
2023 Senior Secured Notes [Member]        
Debt Instrument [Line Items]        
Long-term debt   500,000,000    
Long-term Debt [2],[3] 500,000,000 500,000,000    
Debt Instrument, Unamortized Premium   0    
PBF Rail Logistics Company LLC [Member] | Notes Payable to Banks [Member]        
Debt Instrument [Line Items]        
Long-term debt   35,000,000    
Long-term Debt [1] 28,366,000 35,000,000    
PBF Logistics LP [Member]        
Debt Instrument [Line Items]        
Debt Instrument, Face Amount, Covenant, Threshold For Higher Consolidated Total Leverage Ratio       $ 100,000,000
PBF Logistics LP [Member] | Line of Credit [Member] | Revolving Credit Facility [Member]        
Debt Instrument [Line Items]        
Long-term Line of Credit [1] 29,700,000 189,200,000    
PBF Logistics LP [Member] | Notes Payable to Banks [Member]        
Debt Instrument [Line Items]        
Long-term debt   39,664,000    
Long-term Debt [1] 0 39,664,000    
PBF Logistics LP [Member] | PBFX Senior Notes [Member]        
Debt Instrument [Line Items]        
Long-term debt 525,000,000 350,000,000    
Long-term Debt [2] 528,374,000 $ 350,000,000    
Paulsboro Catalyst Lease [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Facility fee $ 140,000      
Debt fixed interest rate 2.20%      
Delaware City Catalyst Lease [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Facility fee $ 210,000      
Debt fixed interest rate 1.95%      
Delaware City Catalyst Lease - Palladium [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Facility fee $ 30,000      
Debt fixed interest rate 2.05%      
Delaware City Catalyst Lease - Short Term Bridge [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Facility fee $ 3,000      
Debt fixed interest rate 1.69%      
Delaware City Catalyst Lease - Long Term Bridge [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Facility fee $ 117,000      
Debt fixed interest rate 1.69%      
Toledo Catalyst Lease [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Facility fee $ 178,000      
Debt fixed interest rate 1.75%      
Chalmette Catalyst Lease [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Facility fee $ 185,000      
Debt fixed interest rate 3.85%      
Chalmette Catalyst Lease 2019 [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Facility fee $ 171,000      
Debt fixed interest rate 2.20%      
Torrance Catalyst Lease [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Facility fee $ 143,000      
Debt fixed interest rate 1.78%      
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Catalyst lease obligations [Member] | Capital Lease Obligations [Member]        
Debt Instrument [Line Items]        
Long-term debt $ 59,048,000      
Long-term Debt [4] $ 59,048,000      
[1] The estimated fair value approximates carrying value, categorized as a Level 2 measurement, as these borrowings bear interest based upon short-term floating market interest rates.
[2] The estimated fair value, categorized as a Level 2 measurement, was calculated based on the present value of future expected payments utilizing implied current market interest rates based on quoted prices of the Senior Notes, Senior Secured Notes and PBFX Senior Notes.
[3] As discussed in “Note 9 - Credit Facility and Debt”, these notes became unsecured following the Collateral Fall-Away Event on May 30, 2017.
[4] Catalyst leases are valued using a market approach based upon commodity prices for similar instruments quoted in active markets and are categorized as a Level 2 measurement. The Company has elected the fair value option for accounting for its catalyst lease repurchase obligations as the Company’s liability is directly impacted by the change in fair value of the underlying catalyst. On October 5, 2017 Delaware City Refining entered into two platinum bridge leases which will expire in 2018. The leases are payable at maturity and will not be renewed. The total outstanding balance related to these bridge leases as of December 31, 2017 was $10,987 and is included in Current debt on our Consolidated balance sheet.