ACQUISITIONS (Tables)

3 Months Ended

Mar. 31, 2021

Business Combination, Consideration Transferred, Working Capital Adjustments [Table Text Block]

The total purchase consideration and the fair values of the assets and liabilities at the acquisition date were as follows:


(in millions)	Purchase Price
Gross purchase price	$	960.0
Working capital, including post close adjustments	216.1
Contingent consideration (a)	77.3
Total consideration	$	1,253.4

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(a) The Martinez Acquisition included an obligation for the Company to make post-closing earn-out payments to the Seller based on certain earnings thresholds of the Martinez refinery (as set forth in the Sale and Purchase Agreement), for a period of up to four years following the acquisition closing date (the “Martinez Contingent Consideration”). The Company recorded the Martinez Contingent Consideration based on its estimated fair value of $77.3 million at the acquisition date, which was recorded within “Other long-term liabilities” within the Condensed Consolidated Balance Sheets. Subsequent changes in the fair value of the Martinez Contingent Consideration are recorded in the Condensed Consolidated Statement of Operations.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the final amounts recognized for assets acquired and liabilities assumed as of the acquisition date:


(in millions)	Fair Value Allocation
Inventories	$	224.1
Prepaid and other current assets	5.4
Property, plant and equipment	987.9
Operating lease right of use assets (a)	7.8
Financing lease right of use assets (a)	63.5
Deferred charges and other assets, net	63.7
Accrued expenses	(1.4)
Current operating lease liabilities	(1.9)
Current financing lease liabilities (b)	(6.0)
Long-term operating lease liabilities	(5.9)
Long-term financing lease liabilities	(57.5)
Other long-term liabilities - Environmental obligation	(26.3)
Fair value of net assets acquired	$	1,253.4

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(a) Operating and Financing lease right of use assets are recorded in Lease right of use assets - third-party within the Condensed Consolidated Balance Sheets.

(b) Current financing lease liabilities are recorded in Accrued expenses within the Condensed Consolidated Balance Sheets.

Business Acquisition, Pro Forma Information [Table Text Block]


	Three Months Ended March 31, 2020
(Unaudited, in millions)

Pro-forma revenues	$	5,623.8
Pro-forma net loss attributable to PBF Holding	(1,505.9)