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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of stock-based compensation expense
Stock-based compensation expense included in general and administrative expenses consisted of the following:
 Years Ended December 31,
(in millions)202020192018
PBF Energy options$16.1 $15.8 $11.5 
PBF Energy restricted shares 5.3 6.5 7.5 
PBF Energy performance awards7.9 8.2 1.2 
$29.3 $30.5 $20.2 
Weighted average assumptions
 December 31, 2020December 31, 2019December 31, 2018
Expected life (in years)6.086.256.25
Expected volatility69.1 %38.6 %35.8 %
Dividend yield1.41 %3.54 %3.49 %
Risk-free rate of return0.81 %2.16 %2.82 %
Exercise price$13.58 $34.11 $35.25 
Weighted average grant-date fair value per PSU$5.49 $9.43 $9.55 
Schedule of share-based payment awards, performance awards, valuation assumptions
The grant date fair value was calculated using a Monte Carlo valuation model with the following assumptions:
December 31, 2020December 31, 2019December 31, 2018
Expected life (in years)
2.89 - 3.14
2.17 - 2.88
2.17
Expected volatility
39.88% - 82.63%
37.19% - 41.70%
39.04 %
Dividend yield
0.00% - 4.28%
3.40% - 3.67%
2.95 %
Risk-free rate of return
0.26% - 1.34%
1.66% - 2.51%
2.89 %
Weighted average grant-date fair value per PSU$10.77 $27.99 $50.23
Employee Stock Option [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of share-based compensation activity
The following table summarizes activity for PBF Energy options for 2020.
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, 202010,073,916 $30.47 7.17
Granted3,947,726 13.58 10.00
Exercised(7,500)26.00 — 
Forfeited(223,365)26.96 — 
Outstanding at December 31, 202013,790,777 $25.69 7.12
Exercisable and vested at December 31, 20207,124,039 $29.12 5.49
Expected to vest at December 31, 202013,790,777 $25.69 7.12
Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of share-based compensation activity
The following table summarizes activity for PBF Energy restricted stock:
Number of
PBF Energy
Restricted Class A
Common Stock		Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 2020492,225 $27.21 
Granted159,377 9.82 
Vested(347,855)23.51 
Forfeited(192)24.18 
Nonvested at December 31, 2020303,555 $22.32 
Unrecognized compensation expense related to PBF Energy Restricted Class A common stock at December 31, 2020 was $1.5 million, which will be recognized from 2021 through 2023.
The following table reflects activity related to our restricted stock:
December 31, 2020December 31, 2019December 31, 2018
Weighted-average grant-date fair value per share of restricted stock granted$9.82 $28.20 $47.24 
Fair value of restricted stock vested (in millions)$4.2 $11.6 $13.0 
Performance share units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of share-based compensation activity
The following table summarizes activity for PBF Energy performance share awards:
Number of
PBF Energy Performance Share Units (“PSUs”)		Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 2020360,797 $39.03 
Granted446,267 10.77 
Vested (a)
(179,072)50.23 
Forfeited(4,832)33.01 
Nonvested at December 31, 2020623,160 $15.62 
(a) In 2020, PSU’s with fair value of $0.8 million were vested.
Performance Units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of share-based compensation activity
The following table summarizes activity for PBF Energy performance unit awards:

(in millions)Number of
PBF Energy
Performance Units (in equivalent $’s)
Nonvested at January 1, 2020$15.1 
Granted8.5 
Vested (a)
(7.3)
Forfeited(0.2)
Nonvested at December 31, 2020$16.1 
(a) In 2020, Performance Units with fair value of $3.2 million were vested.