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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation expense
Stock-based compensation expense included in general and administrative expenses consisted of the following:
 
 
Years Ended December 31,
 
 
2015
 
2014
 
2013
PBF LLC Series A Unit compensatory warrants and options
 
$
—

 
$
522

 
$
779

PBF LLC Series B Units
 
—

 
—

 
530

PBF Energy options
 
7,528

 
4,343

 
2,051

PBF Energy restricted shares
 
1,690

 
1,230

 
393

 
 
$
9,218

 
$
6,095

 
$
3,753
Summary of Share-based compensation activity
The following table summarizes activity for PBF LLC Series A compensatory warrants and options for the years ended December 31, 2015, 2014 and 2013:
 
 
Number of
PBF LLC
Series A
Compensatory
Warrants
and Options
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Life
(in years)
Stock Based Compensation, Outstanding at January 1, 2013
 
1,184,726

 
$
10.44

 
8.23

Exercised
 
(301,979
)
 
10.11

 
—

Forfeited
 
(41,668
)
 
11.27

 
—

Outstanding at December 31, 2013
 
841,079

 
$
10.52

 
7.40

Exercised
 
(32,934
)
 
10.00

 
—

Forfeited
 
(6,666
)
 
11.59

 
—

Outstanding at December 31, 2014
 
801,479

 
$
10.53

 
6.41

Exercised
 
(160,700
)
 
10.28

 
—

Outstanding at December 31, 2015
 
640,779

 
$
10.59

 
5.46

Exercisable and vested at December 31, 2015
 
640,779

 
$
10.59

 
5.46

Exercisable and vested at December 31, 2014
 
753,985

 
$
10.41

 
6.34

Exercisable and vested at December 31, 2013
 
545,247

 
$
10.24

 
7.23

Expected to vest at December 31, 2015
 
640,779

 
$
10.59

 
5.46

 
 
Number of
PBF Energy
Class A
Common
Stock Options
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Life
(in years)
Stock-based awards, outstanding at January 1, 2013
 
682,500

 
$
26.00

 
9.95

Granted
 
697,500

 
27.79

 
10.00

Exercised
 
—

 
—

 
—

Forfeited
 
(60,000
)
 
25.36

 
—

Outstanding at December 31, 2013
 
1,320,000

 
$
26.97

 
9.33

Granted
 
1,135,000

 
24.78

 
10.00

Exercised
 
—

 
—

 
—

Forfeited
 
(53,125
)
 
25.44

 
—

Outstanding at December 31, 2014
 
2,401,875

 
$
25.97

 
8.67

Granted
 
1,899,500

 
30.28

 
10.00

Exercised
 
(30,000
)
 
25.79

 
—

Forfeited
 
(15,000
)
 
26.38

 
—

Outstanding at December 31, 2015
 
4,256,375

 
$
27.89

 
8.32

Exercisable and vested at December 31, 2015
 
1,136,250

 
$
26.22

 
7.61

Exercisable and vested at December 31, 2014
 
485,000

 
$
26.66

 
8.21

Exercisable and vested at December 31, 2013
 
158,125

 
$
26.00

 
8.95

Expected to vest at December 31, 2015
 
4,256,375

 
$
27.89

 
8.23
Summary of activity for PBF LLC Series B Units
The following table summarizes activity for PBF LLC Series B Units for the year ended December 31, 2013:
 
 
Number of
PBF LLC
Series B units
 
Weighted
Average
Grant Date
Fair Value
Non-vested units at January 1, 2013
 
250,000

 
$
5.11

Allocated
 
—

 
—

Vested
 
(250,000
)
 
5.11

Forfeited
 
—

 
—

Non-vested units at December 31, 2013
 
—

 
$
—
Weighted average assumptions
The estimated fair value of PBF Energy options granted during the years ended December 31, 2015, 2014 and 2013 was determined using the Black-Scholes pricing model with the following weighted average assumptions:
 
 
December 31, 2015
 
December 31, 2014
 
December 31, 2013
Expected life (in years)
 
6.25

 
6.25

 
6.25

Expected volatility
 
38.4
%
 
52.0
%
 
52.1
%
Dividend yield
 
3.96
%
 
4.82
%
 
4.43
%
Risk-free rate of return
 
1.58
%
 
1.80
%
 
1.53
%
Exercise price
 
$
30.28

 
$
24.78

 
$
27.79