XML 28 R79.htm IDEA: XBRL DOCUMENT v2.4.1.9
FAIR VALUE MEASUREMENTS (Measured on Recurring Basis) (Details) (Fair Value, Measurements, Recurring [Member], USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Defined Benefit Plan, Fair Value of Plan Assets $ 5,494us-gaap_DefinedBenefitPlanFairValueOfPlanAssets $ 4,905us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
Level 1 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Defined Benefit Plan, Fair Value of Plan Assets 5,494us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
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4,905us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
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Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Defined Benefit Plan, Fair Value of Plan Assets 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
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0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
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Level 3 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Defined Benefit Plan, Fair Value of Plan Assets 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
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/ us-gaap_FairValueByMeasurementFrequencyAxis
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0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
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Derivatives included with inventory supply arrangement obligations [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 4,251us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_FairValueByLiabilityClassAxis
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Derivative, Collateral, Obligation to Return Cash 0us-gaap_DerivativeCollateralObligationToReturnCash
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Derivative Asset 4,251us-gaap_DerivativeAssets
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Derivative Liability   177us-gaap_DerivativeLiabilities
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/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Derivatives included with inventory supply arrangement obligations [Member] | Level 1 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 0us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
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Derivative Liability   0us-gaap_DerivativeLiabilities
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= us-gaap_FairValueMeasurementsRecurringMember
Derivatives included with inventory supply arrangement obligations [Member] | Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 4,251us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
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/ us-gaap_FairValueByLiabilityClassAxis
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Derivative Liability   177us-gaap_DerivativeLiabilities
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
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/ us-gaap_FairValueByLiabilityClassAxis
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/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Derivatives included with inventory supply arrangement obligations [Member] | Level 3 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 0us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
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/ us-gaap_FairValueByLiabilityClassAxis
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Derivative Liability   0us-gaap_DerivativeLiabilities
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/ us-gaap_FairValueByLiabilityClassAxis
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/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Commodity contract [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 397,676us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
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Derivative, Collateral, Right to Reclaim Cash (397,676)us-gaap_DerivativeCollateralRightToReclaimCash
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Derivative Liability 0us-gaap_DerivativeLiabilities
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= us-gaap_FairValueMeasurementsRecurringMember
30,354us-gaap_DerivativeLiabilities
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= us-gaap_CommodityContractMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Commodity contract [Member] | Level 1 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 390,144us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
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/ us-gaap_FairValueByLiabilityClassAxis
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Derivative Liability   0us-gaap_DerivativeLiabilities
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= us-gaap_FairValueMeasurementsRecurringMember
Commodity contract [Member] | Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 7,338us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
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/ us-gaap_FairValueByLiabilityClassAxis
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= us-gaap_FairValueMeasurementsRecurringMember
 
Derivative Liability   6,989us-gaap_DerivativeLiabilities
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/ us-gaap_FairValueByLiabilityClassAxis
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= us-gaap_FairValueMeasurementsRecurringMember
Commodity contract [Member] | Level 3 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Liability, Fair Value, Amount Not Offset Against Collateral 194us-gaap_DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
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/ us-gaap_FairValueByLiabilityClassAxis
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Derivative Liability   23,365us-gaap_DerivativeLiabilities
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Catalyst Lease Obligation [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative, Collateral, Right to Reclaim Cash 0us-gaap_DerivativeCollateralRightToReclaimCash
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Obligations, Fair Value Disclosure 36,559us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations
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53,089us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations
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/ us-gaap_FairValueByMeasurementFrequencyAxis
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Catalyst Lease Obligation [Member] | Level 1 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Obligations, Fair Value Disclosure 0us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations
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0us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations
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Catalyst Lease Obligation [Member] | Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Obligations, Fair Value Disclosure   53,089us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations
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Catalyst Lease Obligation [Member] | Level 3 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Obligations, Fair Value Disclosure 0us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations
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/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
0us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations
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Money market funds [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 5,575us-gaap_CashAndCashEquivalentsFairValueDisclosure
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5,857us-gaap_CashAndCashEquivalentsFairValueDisclosure
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Money market funds [Member] | Level 1 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 5,575us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByAssetClassAxis
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5,857us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByAssetClassAxis
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Money market funds [Member] | Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 0us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByAssetClassAxis
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0us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByAssetClassAxis
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/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Money market funds [Member] | Level 3 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and Cash Equivalents, Fair Value Disclosure 0us-gaap_CashAndCashEquivalentsFairValueDisclosure
/ us-gaap_FairValueByAssetClassAxis
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/ us-gaap_FairValueByFairValueHierarchyLevelAxis
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/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
0us-gaap_CashAndCashEquivalentsFairValueDisclosure
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/ us-gaap_FairValueByFairValueHierarchyLevelAxis
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Commodity contract [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 428,831us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_FairValueByAssetClassAxis
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/ us-gaap_FairValueByMeasurementFrequencyAxis
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Derivative, Collateral, Obligation to Return Cash (397,676)us-gaap_DerivativeCollateralObligationToReturnCash
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Derivative Asset 31,155us-gaap_DerivativeAssets
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10,933us-gaap_DerivativeAssets
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= us-gaap_CommodityContractMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Commodity contract [Member] | Level 1 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 415,023us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_FairValueByAssetClassAxis
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Derivative Asset   4,252us-gaap_DerivativeAssets
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= us-gaap_FairValueInputsLevel1Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Commodity contract [Member] | Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 12,093us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
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Derivative Asset   6,681us-gaap_DerivativeAssets
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= us-gaap_FairValueInputsLevel2Member
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Commodity contract [Member] | Level 3 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 1,715us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_FairValueByAssetClassAxis
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Derivative Asset   0us-gaap_DerivativeAssets
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Inventory Intermediation Agreement Obligation [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 94,834us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_FairValueByAssetClassAxis
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Derivative, Collateral, Obligation to Return Cash 0us-gaap_DerivativeCollateralObligationToReturnCash
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Derivative Asset 94,834us-gaap_DerivativeAssets
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6,016us-gaap_DerivativeAssets
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Inventory Intermediation Agreement Obligation [Member] | Level 1 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 0us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
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Derivative Asset   0us-gaap_DerivativeAssets
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= us-gaap_FairValueMeasurementsRecurringMember
Inventory Intermediation Agreement Obligation [Member] | Fair Value, Inputs, Level 2 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 94,834us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
/ us-gaap_FairValueByAssetClassAxis
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Derivative Asset   6,016us-gaap_DerivativeAssets
/ us-gaap_FairValueByAssetClassAxis
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/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Inventory Intermediation Agreement Obligation [Member] | Level 3 [Member]
   
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Amount Not Offset Against Collateral 0us-gaap_DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
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Derivative Asset   0us-gaap_DerivativeAssets
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= us-gaap_FairValueInputsLevel3Member
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
Catalyst Lease Obligation [Member] | Catalyst Lease Obligation [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Obligations, Fair Value Disclosure $ 36,559us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisObligations
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
/ us-gaap_FairValueByLiabilityClassAxis
= pbf_CatalystLeaseObligationMember
/ us-gaap_FairValueByMeasurementFrequencyAxis
= us-gaap_FairValueMeasurementsRecurringMember
/ us-gaap_LongtermDebtTypeAxis
= pbf_CatalystLeaseObligationMember
[1]  
[1] 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.