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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 1,803.8 $ 3,708.9 $ 239.1
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 551.6 495.6 444.3
Stock-based compensation 51.5 44.1 30.3
Change in fair value of catalyst obligations (1.1) 2.0 (8.5)
Deferred income taxes 3.7 (3.2) (14.5)
Non-cash change in inventory repurchase obligations 0.0 (5.4) (8.4)
Non-cash lower of cost or market inventory adjustment 0.0 0.0 (669.6)
Change in fair value of contingent consideration, net (45.8) 48.1 29.4
Loss (gain) on extinguishment of debt 5.7 66.1 (79.9)
Pension and other post-retirement benefit costs 47.9 47.6 50.8
(Gain) loss on sale of assets (1.3) 0.9 (0.2)
Changes in operating assets and liabilities:      
Accounts receivable 115.5 (179.6) (770.5)
Due to/from affiliates 12.7 (25.7) 9.3
Inventories (334.1) (258.5) (149.3)
Prepaid and other current assets (11.2) (5.0) (15.3)
Accounts payable 125.9 (97.7) 480.1
Accrued expenses (764.9) 860.8 806.9
Deferred revenue 26.1 (2.8) (4.8)
Other assets and liabilities (108.0) 0.0 (76.9)
Net cash provided by operating activities 1,478.0 4,696.2 292.3
Cash flows from investing activities:      
Expenditures for property, plant and equipment (647.7) (625.4) (240.5)
Expenditures for deferred turnaround costs (473.5) (311.6) (117.7)
Expenditures for other assets (40.5) (66.0) (28.9)
Proceeds from sale of assets 4.4 0.0 0.0
Net cash used in investing activities (1,157.3) (1,003.0) (387.1)
Cash flows from financing activities:      
Contributions from PBF LLC 1,159.6 56.4 37.0
Proceeds from revolver borrowings 0.0 400.0 0.0
Repayments of revolver borrowings 0.0 (1,300.0) 0.0
Settlements of precious metal catalyst obligations (3.1) (56.2) (31.7)
Payments on financing leases (14.1) (11.3) (17.8)
Proceeds from insurance premium financing 13.0 2.1 0.0
Payments of contingent consideration (80.1) 0.0 0.0
Deferred financing costs and other (35.8) (31.3) 0.5
Net cash used in financing activities (713.8) (2,845.0) (169.6)
Net change in cash and cash equivalents (393.1) 848.2 (264.4)
Cash and cash equivalents, beginning of period 2,153.9 1,305.7 1,570.1
Cash and cash equivalents, end of period 1,760.8 2,153.9 1,305.7
Non-cash activities:      
Distribution of assets to PBF Energy Company LLC (853.4) 0.0 0.0
Accrued and unpaid capital expenditures 143.5 165.2 103.2
Assets acquired or remeasured under operating and financing leases 335.4 82.8 (106.6)
Cash paid during the year for:      
Interest (net of capitalized interest of $38.0, $24.8 and $8.9 in 2023, 2022 and 2021, respectively) 95.5 211.5 265.4
Income taxes 1.6 0.8 1.0
2030 Senior Notes      
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 496.6 0.0 0.0
2025 Senior Notes Redeemed      
Cash flows from financing activities:      
Repayments of long-term debt (666.2) 0.0 0.0
2028 Senior Notes      
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (gain) on extinguishment of debt   (3.6) (62.4)
Cash flows from financing activities:      
Repayments of long-term debt 0.0 (21.1) (109.3)
2025 Senior Notes Repurchased      
Cash flows from financing activities:      
Repayments of long-term debt 0.0 (4.8) (37.5)
2025 Senior Secured Notes      
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (gain) on extinguishment of debt   (69.9)  
Cash flows from financing activities:      
Repayments of long-term debt 0.0 (1,307.4) 0.0
Rail Term Loan      
Cash flows from financing activities:      
Repayments of long-term debt 0.0 0.0 (7.4)
Collins Pipeline Company And T&M Terminal Company      
Cash flows from financing activities:      
Payments of capital distribution 0.0 0.0 (0.7)
Members      
Cash flows from financing activities:      
Payments of capital distribution $ (1,583.7) $ (571.4) $ (2.7)