INCOME TAXES

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

PBF Holding is a limited liability company treated as a “flow-through” entity for income tax purposes. Accordingly, there is generally no benefit or expense for federal or state income tax in the PBF Holding financial statements apart from the income tax attributable to the two subsidiaries acquired in connection with the acquisition of Chalmette Refining and the Company’s wholly-owned Canadian subsidiary, PBF Energy Limited, which are treated as C-Corporations for income tax purposes, with the tax provision calculated based on the effective tax rate for the periods presented.

The reported income tax provision in the PBF Holding Condensed Consolidated Statements of Operations consists of the following: 

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2022		2021		2022		2021
Current income tax expense (benefit)	$	0.4	$	(0.2)	$	0.4	$	(1.3)
Deferred income tax expense (benefit)	10.0		(1.8)		0.7		(15.6)
Total income tax expense (benefit)	$	10.4	$	(2.0)	$	1.1	$	(16.9)