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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 107.5 $ 385.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 148.5 150.1
Stock-based compensation 12.4 9.2
Change in fair value of catalyst obligations 0.0 (0.7)
Deferred income taxes 5.2 42.4
Non-cash change in inventory repurchase obligations 0.0 (4.2)
Change in fair value of contingent consideration, net (3.3) (16.3)
Pension and other post-retirement benefit costs 13.0 12.0
Loss from equity method investment 0.8 0.0
Loss on formation of SBR equity method investment 8.7 0.0
Loss (gain) on sale of assets 0.5 (1.6)
Changes in operating assets and liabilities:    
Accounts receivable 183.3 272.3
Inventories 291.9 (91.3)
Prepaid and other current assets (42.7) (93.8)
Accounts payable (28.9) (102.4)
Accrued expenses (639.9) (149.1)
Deferred revenue 10.8 33.5
Payment related to Tax Receivable Agreement (44.8) 0.0
Other assets and liabilities (7.2) (8.4)
Net cash provided by operating activities 15.8 437.6 Close
Cash flows from investing activities:    
Expenditures for property, plant, and equipment (139.6) (239.8)
Expenditures for deferred turnaround costs (140.6) (127.7)
Expenditures for other assets (4.5) (15.6)
Proceeds from sale of assets 0.0 4.4
Equity method investment - return of capital 0.3 0.0
Net cash used in investing activities (284.4) (378.7) Close
Cash flows from financing activities:    
Dividend payments (29.6) (25.8)
Distributions to PBF Energy Company LLC members other than PBF Energy (0.9) (0.2)
Payments on financing leases (3.0) (2.9)
Proceeds from insurance premium financing 78.2 61.2
Transactions in connection with stock-based compensation plans, net 7.0 14.4
Share repurchases of PBF Energy’s Class A common stock (125.0) (167.6)
Deferred financing costs and other, net (0.1) (0.5)
Net cash used in financing activities (73.4) (646.4) Close
Net change in cash and cash equivalents (342.0) (587.5) Close
Cash and cash equivalents, beginning of period 1,783.5 2,203.6
Cash and cash equivalents, end of period 1,441.5 1,616.1
Non-cash activities:    
Accrued and unpaid capital expenditures 159.0 171.2
Assets acquired or remeasured under operating and financing leases 124.8 51.4
Contribution of assets to SBR equity method investment (8.7) 0.0
Cash paid during the period for:    
Interest (net of capitalized interest of $5.2 million and $12.7 million in 2024 and 2023, respectively) 46.3 32.0
Income taxes 0.1 3.5
PBFX 2023 Senior Notes    
Cash flows from financing activities:    
Redemption of PBFX 2023 Senior Notes $ 0.0 $ (525.0)