XML 60 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements Of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Condensed Income Statements, Captions [Line Items]    
Sales and other revenues $ 3,400,545 $ 3,897,247
Operating costs and expenses:    
Cost of products sold (exclusive of lower of cost or market inventory valuation adjustment) 2,693,726 3,199,205
Lower of cost or market inventory valuation adjustment 560,464 (232,346)
Costs of products sold, net 3,254,190 2,966,859
Operating expenses (exclusive of depreciation and amortization) 328,345 331,592
Selling, general and administrative expenses (exclusive of depreciation and amortization) 87,737 88,034
Depreciation and amortization 140,575 121,421
Total operating costs and expenses 3,810,847 3,507,906
Income from operations (410,302) 389,341
Other income (expense):    
Earnings of equity method investments 1,714 2,100
Interest income 4,073 6,375
Interest expense (22,639) (36,647)
Loss on early extinguishment of debt (25,915) 0
Gain (loss) on foreign currency transactions (4,233) 2,265
Other, net 1,850 557
Other income (expense) total (45,150) (25,350)
Income before income taxes (455,452) 363,991
Income tax expense (benefit):    
Current (11,440) 55,284
Deferred income taxes (150,726) 32,221
Income tax expense (benefit) (162,166) 87,505
Net income (293,286) 276,486
Less net income attributable to noncontrolling interest 11,337 23,431
Net income attributable to HollyFrontier stockholders $ (304,623) $ 253,055
Earnings per share attributable to HollyFrontier stockholders:    
Basic $ (1.88) $ 1.48
Diluted $ (1.88) $ 1.47
Average number of common shares outstanding:    
Basic 161,873 170,851
Diluted 161,873 172,239