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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Net income $ 83,076 $ 363,623
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization 107,945 97,378
Stock-based compensation 9,999 3,781
Change in fair value of catalyst lease obligations 4,633 (3,988)
Deferred income taxes 27,060 0
Change in non-cash lower of cost or market inventory adjustment (216,843) (127,166)
Non-cash change in inventory repurchase obligations 26,172 89,203
Pension and other post retirement benefit costs 15,355 12,893
Loss (gain) on sale of assets 3,222 (991)
Changes in operating assets and liabilities:    
Accounts receivable (190,645) 11,042
Due to/from affiliates (2,457) 10,095
Inventories 82,579 (84,619)
Prepaid expense and other current assets (16,422) 3,874
Accounts payable 58,642 18,534
Accrued expenses 164,247 (99,392)
Deferred revenue 3,767 5,991
Other assets and liabilities (12,522) (4,954)
Net cash provided by operations 147,808 295,304
Cash flows from investing activities:    
Expenditures for property, plant and equipment (110,035) (224,046)
Expenditures for deferred turnaround costs (106,649) (22,918)
Expenditures for other assets (21,325) (5,424)
Chalmette Acquisition working capital settlement (2,659) 0
Proceeds from sale of assets 6,860 138,131
Net cash used in investing activities (233,808) (114,257)
Cash flows from financing activities:    
Distributions to members (61,667) 0
Proceeds from affiliate notes payable 635 30,000
Repayment of affiliate notes payable (517) 0
Proceeds from Rail Facility revolver borrowings 0 70,750
Repayments of Rail Facility revolver borrowings (6,970) (64,626)
Proceeds from revolver borrowings 550,000 0
Net cash provided by financing activities 481,481 36,124
Net increase in cash and cash equivalents 395,481 217,171
Cash and equivalents, beginning of period 914,749 218,403
Cash and equivalents, end of period 1,310,230 435,574
Non-cash activities:    
Accrued distributions 0 146,585
Distribution of assets to PBF Energy Company LLC 0 15,975
Accrued construction in progress and unpaid fixed assets $ 8,149 $ 21,367