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Consolidated Statements Of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Sales and other revenues $ 4,471,236 $ 3,458,864 $ 8,599,663 $ 6,539,347
Operating costs and expenses:        
Cost of products sold (exclusive of lower of cost or market inventory valuation adjustment) 3,595,916 [1] 2,753,459 6,943,041 5,394,634
Lower of cost or market inventory valuation adjustment (106,926) 83,982 (210,764) 95,805
Costs of products sold, net 3,488,990 2,837,441 6,732,277 5,490,439
Operating expenses (exclusive of depreciation and amortization) 296,215 [1] 316,261 616,503 623,987
Selling, general and administrative expenses (exclusive of depreciation and amortization) 68,675 59,803 133,339 117,051
Depreciation and amortization 110,379 105,282 214,720 201,322
Long-lived asset impairment 0 19,247 0 19,247
Total operating costs and expenses 3,964,259 3,338,034 7,696,839 6,452,046
Income from operations 506,977 120,830 902,824 87,301
Other income (expense):        
Earnings of equity method investments 1,734 4,053 3,013 5,893
Interest income 2,934 176 5,524 995
Interest expense (32,324) (29,645) (65,047) (56,803)
Loss on early extinguishment of debt 0 0 0 (12,225)
Gain (loss) on foreign currency transactions (325) 10,328 5,235 395
Gain on foreign currency swap contracts 0 0 0 24,545
Other, net 1,364 327 2,710 1,397
Other income (expense) total (26,617) (14,761) (48,565) (35,803)
Income before income taxes 480,360 106,069 854,259 51,498
Income tax expense (benefit):        
Current 88,283 32,251 145,934 7,935
Deferred 29,164 (255) 56,550 7,272
Income tax expense (benefit) 117,447 31,996 202,484 15,207
Net income 362,913 74,073 651,775 36,291
Less net income attributable to noncontrolling interest 17,406 16,306 38,177 23,992
Net income attributable to HollyFrontier stockholders $ 345,507 $ 57,767 $ 613,598 $ 12,299
Earnings per share attributable to HollyFrontier stockholders:        
Basic $ 1.96 $ 0.33 $ 3.47 $ 0.07
Diluted 1.94 0.33 3.44 0.07
Cash dividends declared per common share $ 0.33 $ 0.33 $ 0.66 $ 0.66
Average number of common shares outstanding:        
Basic 175,899 176,147 176,256 176,141
Diluted 177,586 176,302 177,820 176,490
[1] (1) During the three months ended June 30, 2018, we recognized an adjustment in our Lubricants and Specialty Products segment to correct an expense misclassification related to the three months ended March 31, 2018, whereby $24 million of inventory transportation costs were classified as operating expenses, which should have been included in cost of products sold.