XML 59 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements Of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Sales and other revenues $ 3,701,912 $ 5,372,600 $ 6,708,538 $ 10,163,653
Operating costs and expenses:        
Cost of products sold (exclusive of depreciation and amortization) 2,887,475 4,674,846 5,138,848 8,813,466
Lower of cost or market inventory valuation adjustment (135,480) 0 (142,026) 0
Costs of products sold, net 2,751,995 4,674,846 4,996,822 8,813,466
Operating expenses (exclusive of depreciation and amortization) 246,165 271,654 509,761 545,620
General and Administrative Expense 26,117 28,365 55,686 55,288
Depreciation and amortization 87,803 101,390 167,815 181,938
Total operating costs and expenses 3,112,080 5,076,255 5,730,084 9,596,312
Income from operations 589,832 296,345 978,454 567,341
Other income (expense):        
Earnings (loss) of equity method investments 631 (908) (7,176) (1,709)
Interest income 768 1,184 1,730 2,589
Interest expense (10,559) (10,136) (20,713) (22,483)
Loss on early extinguishment of debt (1,368) 0 (1,368) (7,677)
Gain on sale of assets 873 0 1,639 0
Other income (expense) total (9,655) (9,860) (25,888) (29,280)
Income before income taxes 580,177 286,485 952,566 538,061
Income tax provision:        
Current 155,377 109,171 294,575 202,464
Deferred 51,613 (7,839) 42,143 (13,518)
Income tax provision total 206,990 101,332 336,718 188,946
Net income 373,187 185,153 615,848 349,115
Less net income attributable to noncontrolling interest 12,363 8,724 28,148 20,625
Net income attributable to HollyFrontier stockholders $ 360,824 $ 176,429 $ 587,700 $ 328,490
Earnings per share attributable to HollyFrontier stockholders:        
Basic $ 1.88 $ 0.89 $ 3.03 $ 1.65
Diluted 1.88 0.89 3.03 1.65
Cash dividends declared per common share $ 0.33 $ 0.82 $ 0.65 $ 1.62
Average number of common shares outstanding:        
Basic 191,355 198,139 193,202 198,217
Diluted 191,454 198,380 193,279 198,408