XML 63 R52.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDINGS (Statement of Operations) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues $ 5,013,251 $ 3,855,773 $ 9,763,449 $ 6,655,958
Cost and expenses        
Cost of products and other 4,662,833 3,284,748 8,914,587 5,730,731
Operating expenses (excluding depreciation of $56,973, $47,333, $110,790 and $99,722 for the periods presented, respectively) 398,570 271,539 835,423 568,178
General and administrative expenses 34,920 38,091 75,399 71,360
Equity (income) loss in investee (3,820) 0 (7,419) 0
Gain on sale of asset 29 3,222 912 3,222
Depreciation and amortization expense 62,993 48,919 118,683 103,212
Total cost and expenses 5,155,525 3,646,519 9,937,585 6,476,703
Income (loss) from operations (142,274) 209,254 (174,136) 179,255
Other income (expenses)        
Equity in earnings of subsidiaries 0 0 0 0
Change in fair value of catalyst leases 1,104 (1,748) (1,484) (4,633)
Gain (Loss) on Extinguishment of Debt (25,451) 0 (25,451) 0
Interest expense, net (32,857) (31,279) (63,513) (64,550)
Income (loss) before income taxes (199,478) 176,227 (264,584) 110,072
Income tax expense (benefit) 5,898 (5,277) 6,332 26,996
Net income (loss) (205,376) 181,504 (270,916) 83,076
Less: net income attributable to noncontrolling interests 267 90 380 393
Net income (loss) attributable to PBF Holding Company LLC (205,643) 181,414 (271,296) 82,683
Comprehensive Income (Loss), Net of Tax, Attributable to Parent (205,313) 181,829 (270,645) 83,720
Guarantor Subsidiaries [Member]        
Revenues 134,566 95,163 760,335 144,782
Cost and expenses        
Cost of products and other 32,288 39,483 530,062 103,453
Operating expenses (excluding depreciation of $56,973, $47,333, $110,790 and $99,722 for the periods presented, respectively) 389,889 268,608 819,419 562,642
General and administrative expenses 6,286 9,209 13,451 16,060
Equity (income) loss in investee 0   0  
Gain on sale of asset 29 24 912 24
Depreciation and amortization expense 55,077 45,780 107,124 96,522
Total cost and expenses 483,569 363,104 1,470,968 778,701
Income (loss) from operations (349,003) (267,941) (710,633) (633,919)
Other income (expenses)        
Equity in earnings of subsidiaries 1,442 0 3,335 0
Change in fair value of catalyst leases 1,104 (1,748) (1,484) (4,633)
Gain (Loss) on Extinguishment of Debt 0   0  
Interest expense, net (480) (484) (838) (842)
Income (loss) before income taxes (346,937) (270,173) (709,620) (639,394)
Income tax expense (benefit) 0 0 0 0
Net income (loss) (346,937) (270,173) (709,620) (639,394)
Less: net income attributable to noncontrolling interests 267 90 380 393
Net income (loss) attributable to PBF Holding Company LLC (347,204) (270,263) (710,000) (639,787)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent (347,204) (270,263) (710,000) (639,787)
Non-Guarantor Subsidiaries [Member]        
Revenues 512,262 339,721 1,042,167 660,441
Cost and expenses        
Cost of products and other 489,012 358,297 1,013,627 666,992
Operating expenses (excluding depreciation of $56,973, $47,333, $110,790 and $99,722 for the periods presented, respectively) 9,007 2,959 16,335 5,936
General and administrative expenses (209) 273 (590) (2,006)
Equity (income) loss in investee (3,820)   (7,419)  
Gain on sale of asset 0 3,198 0 3,198
Depreciation and amortization expense 1,897 1,760 3,778 3,614
Total cost and expenses 495,887 366,487 1,025,731 677,734
Income (loss) from operations 16,375 (26,766) 16,436 (17,293)
Other income (expenses)        
Equity in earnings of subsidiaries 0 0 0 0
Change in fair value of catalyst leases 0 0 0 0
Gain (Loss) on Extinguishment of Debt 0   0  
Interest expense, net (269) (550) (449) (1,122)
Income (loss) before income taxes 16,106 (27,316) 15,987 (18,415)
Income tax expense (benefit) 5,898 (5,277) 6,332 26,996
Net income (loss) 10,208 (22,039) 9,655 (45,411)
Less: net income attributable to noncontrolling interests 0 0 0 0
Net income (loss) attributable to PBF Holding Company LLC 10,208 (22,039) 9,655 (45,411)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 10,208 (22,039) 9,655 (45,411)
Issuer [Member]        
Revenues 4,928,464 3,834,460 9,654,243 6,630,376
Cost and expenses        
Cost of products and other 4,703,574 3,300,539 9,064,194 5,739,927
Operating expenses (excluding depreciation of $56,973, $47,333, $110,790 and $99,722 for the periods presented, respectively) (326) (28) (331) (400)
General and administrative expenses 28,843 28,609 62,538 57,306
Equity (income) loss in investee 0   0  
Gain on sale of asset 0 0 0 0
Depreciation and amortization expense 6,019 1,379 7,781 3,076
Total cost and expenses 4,738,110 3,330,499 9,134,182 5,799,909
Income (loss) from operations 190,354 503,961 520,061 830,467
Other income (expenses)        
Equity in earnings of subsidiaries (338,171) (292,212) (703,300) (684,805)
Change in fair value of catalyst leases 0 0 0 0
Gain (Loss) on Extinguishment of Debt (25,451)   (25,451)  
Interest expense, net (32,108) (30,245) (62,226) (62,586)
Income (loss) before income taxes (205,376) 181,504 (270,916) 83,076
Income tax expense (benefit) 0 0 0 0
Net income (loss) (205,376) 181,504 (270,916) 83,076
Less: net income attributable to noncontrolling interests 267 90 380 393
Net income (loss) attributable to PBF Holding Company LLC (205,643) 181,414 (271,296) 82,683
Comprehensive Income (Loss), Net of Tax, Attributable to Parent (205,313) 181,829 (270,645) 83,720
Consolidation, Eliminations [Member]        
Revenues (562,041) (413,571) (1,693,296) (779,641)
Cost and expenses        
Cost of products and other (562,041) (413,571) (1,693,296) (779,641)
Operating expenses (excluding depreciation of $56,973, $47,333, $110,790 and $99,722 for the periods presented, respectively) 0 0 0 0
General and administrative expenses 0 0 0 0
Equity (income) loss in investee 0   0  
Gain on sale of asset 0 0 0 0
Depreciation and amortization expense 0 0 0 0
Total cost and expenses (562,041) (413,571) (1,693,296) (779,641)
Income (loss) from operations 0 0 0 0
Other income (expenses)        
Equity in earnings of subsidiaries 336,729 292,212 699,965 684,805
Change in fair value of catalyst leases 0 0 0 0
Gain (Loss) on Extinguishment of Debt 0   0  
Interest expense, net 0 0 0 0
Income (loss) before income taxes 336,729 292,212 699,965 684,805
Income tax expense (benefit) 0 0 0 0
Net income (loss) 336,729 292,212 699,965 684,805
Less: net income attributable to noncontrolling interests (267) (90) (380) (393)
Net income (loss) attributable to PBF Holding Company LLC 336,996 292,302 700,345 685,198
Comprehensive Income (Loss), Net of Tax, Attributable to Parent $ 336,996 $ 292,302 $ 700,345 $ 685,198