EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2021

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

Effective February 1, 2020, the Company amended the PBF Energy Pension Plan to, among other things, incorporate into the plan all employees who became employed at the Company’s Martinez, California location on February 1, 2020, in connection with the Martinez Acquisition. The components of net periodic benefit cost related to the Company’s defined benefit plans consisted of the following:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
Pension Benefits	2021		2020		2021		2020
Components of net periodic benefit cost:
Service cost	$	14.3	$	15.1	$	28.7	$	28.9
Interest cost	1.4		1.7		2.7		3.5
Expected return on plan assets	(3.5)		(3.1)		(7.1)		(6.2)
Amortization of prior service cost and actuarial loss	—		—		—		0.1
Net periodic benefit cost	$	12.2	$	13.7	$	24.3	$	26.3

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
Post-Retirement Medical Plan	2021		2020		2021		2020
Components of net periodic benefit cost:
Service cost	$	0.1	$	0.2	$	0.5	$	0.5
Interest cost	—		0.1		0.1		0.2
Amortization of prior service cost and actuarial loss	0.2		0.2		0.4		0.3
Net periodic benefit cost	$	0.3	$	0.5	$	1.0	$	1.0