XML 21 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1Close
Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Revenues $ 38,324.8 $ 46,830.3 $ 27,253.4 Close
Cost and expenses:      
Cost of products and other 32,671.3 39,049.1 23,826.8
Operating expenses (excluding depreciation and amortization expense as reflected below) 2,694.9 2,599.0 2,085.9
Depreciation and amortization expense 560.0 503.6 453.5
Cost of sales 35,926.2 42,151.7 26,366.2
General and administrative expenses (excluding depreciation and amortization expense as reflected below) 362.5 468.7 247.3
Depreciation and amortization expense 11.5 7.5 13.3
Change in fair value of contingent consideration, net (45.8) 48.3 32.4
Equity loss in investee 45.3 0.0 0.0
Gain on formation of SBR equity method investment (925.1) 0.0 0.0
(Gain) loss on sale of assets (1.3) 0.9 (3.0)
Total cost and expenses 35,373.3 42,677.1 26,656.2 Close
Income from operations 2,951.5 4,153.2 597.2 Close
Other income (expense):       Close
Interest expense, net (63.8) (246.0) (317.5) Close
Change in Tax Receivable Agreement liability 2.0 (290.3) (48.3) Close
Change in fair value of catalyst obligations 1.1 (2.0) 8.5 Close
(Loss) gain on extinguishment of debt (5.7) (66.1) 79.9 Close
Other non-service components of net periodic benefit cost 0.7 8.8 7.8 Close
Total Other Income Expenses -65.7 -595.6 -269.6 0 0 Close
Income before income taxes 2,885.8 3,557.6 327.6 CloseClose
Income tax expense 723.8 584.8 12.1 Close
Net income 2,162.0 2,972.8 315.5 Close
Less: net income attributable to noncontrolling interests 21.5 96.0 84.5
Net income attributable to PBF Energy Inc. stockholders $ 2,140.5 $ 2,876.8 $ 231.0
Weighted-average shares of Class A common stock outstanding      
Basic (in shares) [1] 124,953,858 122,598,076 120,240,009
Diluted (in shares) 130,509,448 126,860,106 122,638,154
Net income available to Class A common stock per share:      
Basic (in usd per share) $ 17.13 $ 23.47 $ 1.92
Diluted (in usd per share) $ 16.52 $ 22.84 $ 1.90
[1] The diluted earnings per share calculation generally assumes the conversion of all outstanding PBF LLC Series A Units to PBF Energy Class A common stock. The net income attributable to PBF Energy used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income, as well as the corresponding income tax expense (based on a 26.0%, 25.9% and 25.9% annualized statutory corporate tax rate for the years ended December 31, 2023, 2022 and 2021, respectively) attributable to the converted units.