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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Purchase Price Consideration and Allocation | The following tables present the purchase consideration and preliminary purchase price allocation of the assets acquired and liabilities assumed on March 14, 2022:
Purchase Consideration (in thousands except for per share amounts) |  |
Shares of HF Sinclair common stock issued |  | 60,230
Closing price per share of HFC common stock (1) |  | $ | 35.68 |
Purchase consideration paid in HF Sinclair common stock |  | 2,149,008
Shares of HEP common units issued to Sinclair |  | 21,000
Closing price per share of HEP common units (2) |  | $ | 16.62 |
Purchase consideration paid in HEP common units |  | 349,020
Total equity consideration |  | 2,498,028
Cash consideration paid by HEP |  | 328,955
Cash consideration received by HFC |  | (77,507)
Total cash consideration |  | 251,448 |
Total purchase consideration |  | $ | 2,749,476 |
(1)Based on the HollyFrontier closing stock price on March 11, 2022. (2)Based on the HEP closing unit price on March 11, 2022.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
|  | (In thousands)
Assets Acquired |  |
Accounts receivable |  | $ | 467,530 |
Inventories: Crude oil and refined products |  | 906,461 |
Inventories: Materials, supplies and other |  | 39,350 |
Properties, plants and equipment |  | 1,242,549 |
Operating lease right-of-use assets |  | 4,585 |
Other assets: Intangibles and other |  | 495,621 |
Total assets acquired |  | $ | 3,156,096 |
Liabilities Assumed |  |
Accounts payable |  | $ | 564,385 |
Operating lease liabilities |  | 1,030 |
Accrued liabilities |  | 84,298 |
Noncurrent operating lease liabilities |  | 3,554 |
Deferred income taxes |  | 351,189 |
Other long-term liabilities |  | 88,098 |
Total liabilities assumed |  | $ | 1,092,554 |
Net assets acquired |  | $ | 2,063,542 |
Goodwill |  | $ | 685,934 |
Schedule of Pro Forma Information | The pro forma combined condensed financial data has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the Sinclair Transactions taken place on January 1, 2021 and is not intended to be a projection of future results.
|  |  | Years Ended December 31,
|  |  |  | 2022 |  | 2021
|  |  |  | (In thousands)
Sales and other revenues |  |  |  | $ | 39,210,338 |  |  | $ | 22,767,827 |
Net income attributable to HF Sinclair stockholders |  |  |  | $ | 2,853,686 |  |  | $ | 757,808 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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