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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 824.1 $ 1,578.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 280.7 233.5
Stock-based compensation 18.9 14.5
Change in fair value of catalyst obligations (1.2) (2.3)
Deferred income taxes 0.1 (9.3)
Non-cash change in inventory repurchase obligations 8.5 (3.4)
Change in fair value of contingent consideration, net (32.9) 127.7
Gain on extinguishment of debt 0.0 (3.8)
Pension and other post-retirement benefit costs 23.9 23.8
(Gain) loss on sale of assets (1.4) 0.3
Changes in operating assets and liabilities:    
Accounts receivable 99.5 (690.0)
Due to/from affiliates (9.5) (14.8)
Inventories (68.7) (471.3)
Prepaid and other current assets (36.4) (140.3)
Accounts payable (202.1) 398.5
Accrued expenses (322.5) 1,100.0
Deferred revenue 37.3 42.8
Other assets and liabilities (19.4) (28.6)
Net cash provided by operating activities 598.9 2,156.2
Cash flows from investing activities:    
Expenditures for property, plant and equipment (442.0) (223.4)
Expenditures for deferred turnaround costs (268.0) (166.8)
Expenditures for other assets (35.0) (43.6)
Proceeds from sale of assets 4.4 0.0
Net cash used in investing activities (740.6) (433.8)
Cash flows from financing activities:    
Contributions from PBF LLC 635.0 25.0
Payment of contingent consideration (80.1) 0.0
Repayments of revolver borrowings 0.0 (900.0)
Payments on financing leases (5.8) (5.7)
Proceeds from insurance premium financing 35.0 32.4
Deferred financing costs and other, net (0.5) (32.2)
Net cash used in financing activities (515.4) (918.0)
Net change in cash and cash equivalents (657.1) 804.4
Cash and cash equivalents, beginning of period 2,153.9 1,305.7
Cash and cash equivalents, end of period 1,496.8 2,110.1
Non-cash activities:    
Non-Cash Distribution of Assets 844.1 0.0
Accrued and unpaid capital expenditures 108.6 118.9
Assets acquired or remeasured under operating and financing leases 174.8 31.3
Cash paid during the period for:    
Interest (net of capitalized interest of $28.1 million and $9.2 million in 2023 and 2022, respectively) 46.0 131.0
Income taxes 1.4 0.8
2028 Senior Notes    
Cash flows from financing activities:    
Repayments of Long-term Debt 0.0 (21.1)
2025 Senior Notes    
Cash flows from financing activities:    
Repayments of Long-term Debt 0.0 (4.8)
Members    
Cash flows from financing activities:    
Distributions to members $ (1,099.0) $ (11.6)