Supplemental Guarantor/Non-Guarantor Financial Information (Tables)

9 Months Ended

Sep. 30, 2011

Supplemental Guarantor/Non-Guarantor Financial Information [Abstract]

Condensed Consolidating Balance Sheet

September 30, 2011	Parent			Guarantor Restricted Subsidiaries			Non- Guarantor Restricted Subsidiaries			Eliminations			HollyFrontier Before Consolidation of HEP		Non-Guarantor Non-Restricted Subsidiaries (HEP Segment)		Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	1,554,831		$	8,724		$	17,502		$	—		$	1,581,057	$	1,802	$	—		$	1,582,859
Marketable securities		132,654			791			—			—			133,445		—		—			133,445
Accounts receivable		3,509			1,337,820			74						1,341,403		23,821		(23,541	)		1,341,683
Intercompany accounts receivable (payable)		898,166			(1,321,457	)		423,291			—			—		—		—			—
Inventories		—			1,264,816			—			—			1,264,816		703		—			1,265,519
Prepayments and other assets		15,438			42,939			5			—			58,382		942		(3,742	)		55,582
Total current assets		2,604,598			1,333,633			440,872			—			4,379,103		27,268		(27,283	)		4,379,088
Properties and equipment, net		21,256			2,125,285			353,227			—			2,499,768		503,248		(6,488	)		2,996,528
Marketable securities (long-term)		43,049			—			—			—			43,049		—		—			43,049
Investment in subsidiaries		3,426,419			694,031			(396,034	)		(3,724,416	)		—		—		—			—
Intangibles and other assets		19,465			2,322,242			—			—			2,341,707		154,947		1,144			2,497,798
Total assets	$	6,114,787		$	6,475,191		$	398,065		$	(3,724,416	)	$	9,263,627	$	685,463	$	(32,627	)	$	9,916,463
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	12,707		$	2,099,725		$	6,341		$	—		$	2,118,773	$	7,683	$	(23,541	)	$	2,102,915
Income taxes payable		—			140,086			—			—			140,086		—		—			140,086
Accrued liabilities		60,917			66,427			2,240			—			129,584		11,997		(3,742	)		137,839
Total current liabilities		73,624			2,306,238			8,581			—			2,388,443		19,680		(27,283	)		2,380,840
Long-term debt		659,851			54,498			—			—			714,349		527,213		(16,575	)		1,224,987
Deferred income taxes		282,862			222,351			919			—			506,132		—		4,951			511,083
Non-current liabilities		41,860			88,759			—			—			130,619		8,144		—			138,763
Distributions in excess of inv in HEP		—			376,926			—			—			376,926		—		(376,926	)		—
Equity – HollyFrontier		5,056,590			3,426,419			388,565			(3,814,984	)		5,056,590		130,426		(132,086	)		5,054,930
Equity – noncontrolling interest		—			—			—			90,568			90,568		—		515,292			605,860
Total liabilities and equity	$	6,114,787		$	6,475,191		$	398,065		$	(3,724,416	)	$	9,263,627	$	685,463	$	(32,627	)	$	9,916,463
Condensed Consolidating Balance Sheet
December 31, 2010	Parent			Guarantor Restricted Subsidiaries			Non- Guarantor Restricted Subsidiaries			Eliminations			HollyFrontier Before Consolidation of HEP		Non-Guarantor Non-Restricted Subsidiaries (HEP Segment)		Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	230,082		$	(9,035	)	$	7,651		$	—		$	228,698	$	403	$	—		$	229,101
Marketable securities		—			1,343			—			—			1,343		—		—			1,343
Accounts receivable		1,683			991,778			—			—			993,461		22,508		(22,853	)		993,116
Intercompany accounts receivable (payable)		(1,401,580	)		981,691			419,889			—			—		—		—			—
Inventories		—			400,165			—			—			400,165		202		—			400,367
Income taxes receivable		51,034			—			—			—			51,034		—		—			51,034
Prepayments and other assets		10,210			20,942			—			—			31,152		573		(3,251	)		28,474
Total current assets		(1,108,571	)		2,386,884			427,540			—			1,705,853		23,686		(26,104	)		1,703,435
Properties and equipment, net		17,177			1,017,877			236,648			—			1,271,702		492,098		(7,109	)		1,756,691
Investment in subsidiaries		2,273,159			595,888			(393,011	)		(2,476,036	)		—		—		—			—
Intangibles and other assets		8,569			77,600			—			—			86,169		154,036		1,144			241,349
Total assets	$	1,190,334		$	4,078,249		$	271,177		$	(2,476,036	)	$	3,063,724	$	669,820	$	(32,069	)	$	3,701,475
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	7,170		$	1,319,316		$	3,575		$	—		$	1,330,061	$	10,238	$	(22,853	)	$	1,317,446
Accrued liabilities		25,512			28,145			797			—			54,454		21,206		(3,251	)		72,409
Total current liabilities		32,682			1,347,461			4,372			—			1,384,515		31,444		(26,104	)		1,389,855
Long-term debt		289,509			55,706			—			—			345,215		482,271		(16,925	)		810,561
Deferred income taxes		126,160			259			565			—			126,984		—		4,951			131,935
Non-current liabilities		42,655			27,521			—			—			70,176		10,809		—			80,985
Distributions in excess of inv in HEP		—			374,143			—			—			374,143		—		(374,143	)		—
Equity – HollyFrontier		699,328			2,273,159			266,240			(2,539,399	)		699,328		145,296		(147,205	)		697,419
Equity – noncontrolling interest		—			—			—			63,363			63,363		—		527,357			590,720
Total liabilities and equity	$	1,190,334		$	4,078,249		$	271,177		$	(2,476,036	)	$	3,063,724	$	669,820	$	(32,069	)	$	3,701,475

Condensed Consolidating Statement Of Income

Consolidating Statement of Income

Three Months Ended September 30, 2011	Parent			Guarantor Restricted Subsidiaries			Non- Guarantor Restricted Subsidiaries			Eliminations			HollyFrontier Before Consolidation of HEP			Non-Guarantor Non-Restricted Subsidiaries (HEP Segment)			Eliminations			Consolidated
	(In thousands)
Sales and other revenues	$	266		$	5,164,778		$	33		$	—		$	5,165,077		$	49,288		$	(40,967	)	$	5,173,398
Operating costs and expenses:
Cost of products sold		—			4,029,997			—			—			4,029,997			—			(40,070	)		3,989,927
Operating expenses		—			213,001			323			—			213,324			14,689			(130	)		227,883
General and administrative expenses		39,555			1,574			—			—			41,129			2,012			—			43,141
Depreciation and amortization		872			35,070			179			—			36,121			7,326			(207	)		43,240
Total operating costs and expenses		40,427			4,279,642			502			—			4,320,571			24,027			(40,407	)		4,304,191
Income (loss) from operations		(40,161	)		885,136			(469	)		—			844,506			25,261			(560	)		869,207
Other income (expense):
Equity in earnings of subsidiaries and joint venture		892,558			8,399			8,840			(901,066	)		8,731			641			(8,840	)		532
Interest income (expense)		(15,162	)		(977	)		14			—			(16,125	)		(9,391	)		646			(24,870	)
Merger transaction costs		(9,100	)		—			—			—			(9,100	)		—			—			(9,100	)
		868,296			7,422			8,854			(901,066	)		(16,494	)		(8,750	)		(8,194	)		(33,438	)
Income before income taxes		828,135			892,558			8,385			(901,066	)		828,012			16,511			(8,754	)		835,769
Income tax provision		304,835			—			—			—			304,835			(77	)		—			304,758
Net income		523,300			892,558			8,385			(901,066	)		523,177			16,588			(8,754	)		531,011
Less net income attributable to noncontrolling interest		—			—			—			(123	)		(123	)		—			8,046			7,923
Net income attributable to HollyFrontier stockholders	$	523,300		$	892,558		$	8,385		$	(900,943	)	$	523,300		$	16,588		$	(16,800	)	$	523,088
Condensed Consolidating Statement of Income
Three Months Ended September 30, 2010	Parent			Guarantor Restricted Subsidiaries			Non- Guarantor Restricted Subsidiaries			Eliminations			HollyFrontier Before Consolidation of HEP			Non-Guarantor Non-Restricted Subsidiaries (HEP Segment)			Eliminations			Consolidated
	(In thousands)
Sales and other revenues	$	100		$	2,081,707		$	2		$	—		$	2,081,809		$	46,558		$	(37,379	)	$	2,090,988
Operating costs and expenses:
Cost of products sold		—			1,843,464			103			—			1,843,567			—			(36,523	)		1,807,044
Operating expenses		—			116,763			—			—			116,763			13,632			(132	)		130,263
General and administrative expenses		15,538			(121	)		—			—			15,417			1,508			—			16,925
Depreciation and amortization		925			21,499			179			—			22,603			6,830			(295	)		29,138
Total operating costs and expenses		16,463			1,981,605			282			—			1,998,350			21,970			(36,950	)		1,983,370
Income (loss) from operations		(16,363	)		100,102			(280	)		—			83,459			24,588			(429	)		107,618
Other income (expense):
Equity in earnings of subsidiaries and joint venture		106,360			7,918			8,117			(114,278	)		8,117			570			(8,117	)		570
Interest income (expense)		(7,294	)		(1,660	)		11			—			(8,943	)		(8,979	)		618			(17,304	)
		99,066			6,258			8,128			(114,278	)		(826	)		(8,409	)		(7,499	)		(16,734	)
Income before income taxes		82,703			106,360			7,848			(114,278	)		82,633			16,179			(7,928	)		90,884
Income tax provision		31,418			—			—			—			31,418			76			—			31,494
Net income		51,285			106,360			7,848			(114,278	)		51,215			16,103			(7,928	)		59,390
Less net income attributable to noncontrolling interest		—			—			—			(70	)		(70	)		—			8,283			8,213
Net income attributable to HollyFrontier stockholders	$	51,285		$	106,360		$	7,848		$	(114,208	)	$	51,285		$	16,103		$	(16,211	)	$	51,177

Condensed Consolidating Statement of Income

Nine Months Ended September 30, 2011	Parent			Guarantor Restricted Subsidiaries			Non- Guarantor Restricted Subsidiaries			Eliminations			HollyFrontier Before Consolidation of HEP			Non-Guarantor Non-Restricted Subsidiaries (HEP Segment)			Eliminations			Consolidated
	(In thousands)
Sales and other revenues	$	1,067		$	10,433,096		$	33		$	—		$	10,434,196		$	145,233		$	(112,313	)	$	10,467,116
Operating costs and expenses:
Cost of products sold		—			8,531,358			—			—			8,531,358			—			(109,719	)		8,421,639
Operating expenses		—			459,678			832			—			460,510			41,851			(390	)		501,971
General and administrative expenses		71,884			1,809			—			—			73,693			4,948			—			78,641
Depreciation and amortization		2,719			81,875			537			—			85,131			21,870			(621	)		106,380
Total operating costs and expenses		74,603			9,074,720			1,369			—			9,150,692			68,669			(110,730	)		9,108,631
Income (loss) from operations		(73,536	)		1,358,376			(1,336	)		—			1,283,504			76,564			(1,583	)		1,358,485
Other income (expense):
Equity in earnings of subsidiaries and joint venture		1,381,010			25,230			26,340			(1,406,349	)		26,231			1,848			(26,340	)		1,739
Interest income (expense)		(27,033	)		(2,596	)		40			—			(29,589	)		(27,789	)		1,853			(55,525	)
Merger transaction costs		(15,114	)		—			—			—			(15,114	)		—			—			(15,114	)
		1,338,863			22,634			26,380			(1,406,349	)		(18,472	)		(25,941	)		(24,487	)		(68,900	)
Income before income taxes		1,265,327			1,381,010			25,044			(1,406,349	)		1,265,032			50,623			(26,070	)		1,289,585
Income tax provision		465,561			—			—			—			465,561			169			—			465,730
Net income		799,766			1,381,010			25,044			(1,406,349	)		799,471			50,454			(26,070	)		823,855
Less net income attributable to noncontrolling interest		—			—			—			(295	)		(295	)		—			24,133			23,838
Net income attributable to HollyFrontier stockholders	$	799,766		$	1,381,010		$	25,044		$	(1,406,054	)	$	799,766		$	50,454		$	(50,203	)	$	800,017
Condensed Consolidating Statement of Income
Nine Months Ended September 30, 2010	Parent			Guarantor Restricted Subsidiaries			Non- Guarantor Restricted Subsidiaries			Eliminations			HollyFrontier Before Consolidation of HEP			Non-Guarantor Non-Restricted Subsidiaries (HEP Segment)			Eliminations			Consolidated
	(In thousands)
Sales and other revenues	$	317		$	6,086,241		$	2		$	—		$	6,086,560		$	132,730		$	(108,152	)	$	6,111,138
Operating costs and expenses:
Cost of products sold		—			5,484,647			115			—			5,484,762			—			(105,642	)		5,379,120
Operating expenses		—			338,826			—			—			338,826			40,187			(375	)		378,638
General and administrative expenses		44,339			300			—			—			44,639			5,984			—			50,623
Depreciation and amortization		2,796			63,278			(292	)		—			65,782			20,822			(885	)		85,719
Total operating costs and expenses		47,135			5,887,051			(177	)		—			5,934,009			66,993			(106,902	)		5,894,100
Income (loss) from operations		(46,818	)		199,190			179			—			152,551			65,737			(1,250	)		217,038
Other income (expense):
Equity in earnings of subsidiaries and joint venture		216,349			21,217			21,053			(237,566	)		21,053			1,595			(21,053	)		1,595
Interest income (expense)		(25,964	)		(4,058	)		31			—			(29,991	)		(27,192	)		1,828			(55,355	)
		190,385			17,159			21,084			(237,566	)		(8,938	)		(25,597	)		(19,225	)		(53,760	)
Income before income taxes		143,567			216,349			21,263			(237,566	)		143,613			40,140			(20,475	)		163,278
Income tax provision		54,260			—			—			—			54,260			216			—			54,476
Net income		89,307			216,349			21,263			(237,566	)		89,353			39,924			(20,475	)		108,802
Less net income attributable to noncontrolling interest		—			—			—			46			46			—			19,511			19,557
Net income attributable to HollyFrontier stockholders	$	89,307		$	216,349		$	21,263		$	(237,612	)	$	89,307		$	39,924		$	(39,986	)	$	89,245

Condensed Consolidating Statement Of Cash Flows

Nine Months Ended September 30, 2011	Parent			Guarantor Restricted Subsidiaries			Non- Guarantor Restricted Subsidiaries			HollyFrontier Before Consolidation of HEP			Non-Guarantor Non-Restricted Subsidiaries (HEP Segment)			Eliminations			Consolidated
	(In thousands)
Cash flows from operating activities	$	1,690,926		$	(683,525	)	$	49,190		$	1,056,591		$	62,646		$	(30,034	)	$	1,089,203
Cash flows from investing activities
Additions to properties, plants and equipment		(6,056	)		(119,335	)		(117,339	)		(242,730	)		—			—			(242,730	)
Additions to properties, plants and equipment – HEP		—			—			—			—			(31,493	)		—			(31,493	)
Investment in Sabine Biofuels		(9,125	)		—			—			(9,125	)		—			—			(9,125	)
Cash received in merger with Frontier		182			871,976			—			872,158			—			—			872,158
Purchases of marketable securities		(370,042	)		—			—			(370,042	)		—			—			(370,042	)
Sales and maturities of marketable securities		194,386			—			—			194,386			—			—			194,386
		(190,655	)		752,641			(117,339	)		444,647			(31,493	)		—			413,154
Cash flows from financing activities
Net borrowings under credit agreements – HEP		—			—			—			—			43,000			—			43,000
Repayments under financing obligation		—			(857	)		—			(857	)		—			—			(857	)
Purchase of treasury stock		(38,955	)		—			—			(38,955	)		—			—			(38,955	)
Principle tender on 8.5% senior notes		(15	)		—			—			(15	)		—			—			(15	)
Contribution from joint venture partner		—			(50,500	)		78,000			27,500			—			—			27,500
Dividends		(129,377	)		—			—			(129,377	)		—			—			(129,377	)
Distributions to noncontrolling interest		—			—			—			—			(67,963	)		30,034			(37,929	)
Excess tax benefit from equity based compensation		1,399			—			—			1,399			—			—			1,399
Purchase of units for HEP restricted grants		—			—			—			—			(1,641	)		—			(1,641	)
Deferred financing costs		(8,574	)		—			—			(8,574	)		(3,150	)		—			(11,724	)
		(175,522	)		(51,357	)		78,000			(148,879	)		(29,754	)		30,034			(148,599	)
Cash and cash equivalents
Increase (decrease) for the period		1,324,749			17,759			9,851			1,352,359			1,399			—			1,353,758
Beginning of period		230,082			(9,035	)		7,651			228,698			403			—			229,101
End of period	$	1,554,831		$	8,724		$	17,502		$	1,581,057		$	1,802		$	—		$	1,582,859
Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2010	Parent			Guarantor Restricted Subsidiaries			Non- Guarantor Restricted Subsidiaries			HollyFrontier Before Consolidation of HEP			Non-Guarantor Non-Restricted Subsidiaries (HEP Segment)			Eliminations			Consolidated
	(In thousands)
Cash flows from operating activities	$	168,984		$	22,377		$	5,294		$	196,655		$	66,129		$	(26,816	)	$	235,968
Cash flows from investing activities
Additions to properties, plants and equipment		(1,498	)		(74,890	)		(43,497	)		(119,885	)		—			—			(119,885	)
Additions to properties, plants and equipment – HEP		—			—			—			—			(43,580	)		35,526			(8,054	)
Proceeds from sale of assets		—			39,040			—			39,040			—			(39,040	)		—
		(1,498	)		(35,850	)		(43,497	)		(80,845	)		(43,580	)		(3,514	)		(127,939	)
Cash flows from financing activities
Net repayments under credit agreements – HEP		—			—			—			—			(49,000	)		—			(49,000	)
Proceeds from issuance of senior notes – HEP		—			—			—			—			147,540			—			147,540
Repayments under financing obligation		—			(1,067	)		—			(1,067	)		—			307			(760	)
Purchase of treasury stock		(1,308	)		—			—			(1,308	)		—			—			(1,308	)
Contribution from joint venture partner		—			(28,500	)		38,000			9,500			—			—			9,500
Dividends		(23,889	)		—			—			(23,889	)		—			—			(23,889	)
Purchase price in excess of transferred basis in assets		—			53,960			—			53,960			(57,474	)		3,514			—
Distributions to noncontrolling interest		—			—			—			—			(62,648	)		26,509			(36,139	)
Excess tax expense from equity based compensation		(1,313	)		—			—			(1,313	)		—			—			(1,313	)
Deferred financing costs		(2,628	)		—			—			(2,628	)		(493	)		—			(3,121	)
Purchase of units for HEP restricted grants		—			—			—			—			(2,276	)		—			(2,276	)
Issuance of common stock upon exercise of options		61			—			—			61			—			—			61
		(29,077	)		24,393			38,000			33,316			(24,351	)		30,330			39,295
Cash and cash equivalents
Increase (decrease) for the period
Beginning of period		138,409			10,920			(203	)		149,126			(1,802	)		—			147,324
		127,560			(12,477	)		7,005			122,088			2,508			—			124,596
End of period	$	265,969		$	(1,557	)	$	6,802		$	271,214		$	706		$	—		$	271,920