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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenues $ 8,736.1 $ 9,157.6 $ 17,381.7 $ 18,452.6 Close
Cost and expenses:        
Cost of products and other 7,962.4 7,908.0 15,560.3 15,703.3
Operating expenses (excluding depreciation and amortization expense as reflected below) 612.6 597.0 1,300.7 1,378.4
Depreciation and amortization expense 154.8 142.2 296.2 284.1
Cost of sales 8,729.8 8,647.2 17,157.2 17,365.8
General and administrative expenses (excluding depreciation and amortization expense as reflected below) 65.0 104.2 128.2 164.2
Depreciation and amortization expense 3.3 2.3 6.5 4.2
Change in fair value of contingent consideration, net 0.0 (16.6) (3.3) (32.9)
Equity loss in investee 12.4 0.0 13.2 0.0
(Gain) loss on formation of SBR equity method investment 0.0 (968.9) 8.7 (968.9)
Loss (gain) on sale of assets 0.2 0.2 0.7 (1.4)
Total cost and expenses 8,810.7 7,768.4 17,311.2 16,531.0 Close
Income (loss) from operations (74.6) 1,389.2 70.5 1,921.6 Close
Other income (expense):         Close
Interest expense (net of interest income of $14.3 million, $14.0 million, $32.1 million and $31.2 million, respectively) (17.3) (13.8) (27.8) (32.5) Close
Change in fair value of catalyst obligations 0.0 0.5 0.0 1.2 Close
Other non-service components of net periodic benefit cost 0.6 0.1 1.2 0.4 Close
Other expense 0.0 2.3 0.0 0.0 CloseClose
Total Other Income Expenses -16.7 -10.9 -26.6 -30.9 0.0 Close
Income (loss) before income taxes (91.3) 1,378.3 43.9 1,890.7 CloseClose
Income tax (benefit) expense (25.3) 347.9 2.4 474.4 Close
Net income (loss) (66.0) 1,030.4 41.5 1,416.3 Close
Less: net income (loss) attributable to noncontrolling interest (0.8) 10.0 0.1 13.8
Net income (loss) attributable to PBF Energy Inc. stockholders $ (65.2) $ 1,020.4 $ 41.4 $ 1,402.5
Weighted-average shares of Class A common stock outstanding        
Basic (in shares) [1] 117,043,158 125,288,452 118,965,510 127,028,449
Diluted (in shares) 117,905,938 130,446,002 124,195,155 132,428,607
Net income (loss) available to Class A common stock per share:        
Basic (in dollars per share) $ (0.56) $ 8.14 $ 0.35 $ 11.04
Diluted (in dollars per share) $ (0.56) $ 7.88 $ 0.33 $ 10.67
[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 (loss) attributable to PBF Energy used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income (loss), as well as the corresponding income tax expense (benefit) (based on a 26.0% estimated annualized statutory corporate tax rate for both the three and six months ended June 30, 2024 and the three and six months ended June 30, 2023), attributable to the converted units.