XML 76 R55.htm IDEA: XBRL DOCUMENT
v3.10.0.1

NET INCOME PER SHARE OF PBF ENERGY (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Earnings Per Share [Abstract] |
Computation of basic and diluted net income per common share | The following table sets forth the computation of basic and diluted net income per share of PBF Energy Class A common stock attributable to PBF Energy for the periods presented:
| Year Ended December 31,
Basic Earnings Per Share: | 2018 |  | 2017 |  | 2016
Allocation of earnings: |  |  |  |  |
Net income attributable to PBF Energy Inc. stockholders | $ | 128,315 |  |  | $ | 415,517 |  |  | $ | 170,811 |
Less: Income allocated to participating securities | 748 |  |  | 1,043 |  |  | — |
Income available to PBF Energy Inc. stockholders - basic | $ | 127,567 |  |  | $ | 414,474 |  |  | $ | 170,811 |
Denominator for basic net income per PBF Energy Class A common share-weighted average shares | 115,190,262 |  |  | 109,779,407 |  |  | 98,334,302 |
Basic net income attributable to PBF Energy per Class A common share | $ | 1.11 |  |  | $ | 3.78 |  |  | $ | 1.74 |
Diluted Earnings Per Share: |  |  |  |  |
Numerator: |  |  |  |  |
Income available to PBF Energy Inc. stockholders - basic | $ | 127,567 |  |  | $ | 414,474 |  |  | $ | 170,811 |
Plus: Net income attributable to noncontrolling interest (1) | 4,668 |  |  | 16,746 |  |  | 14,903 |
Less: Income tax expense on net income attributable to noncontrolling interest (1) | (1,214 | ) |  | (6,633 | ) |  | (5,821 | )
Numerator for diluted net income per Class A common share - net income attributable to PBF Energy Inc. stockholders (1) | $ | 131,021 |  |  | $ | 424,587 |  |  | $ | 179,893 |
Denominator (1): |  |  |  |  |
Denominator for basic net income per PBF Energy Class A common share-weighted average shares | 115,190,262 |  |  | 109,779,407 |  |  | 98,334,302 |
Effect of dilutive securities: |  |  |  |  |
Conversion of PBF LLC Series A Units | 1,938,089 |  |  | 3,823,783 |  |  | 4,865,133 |
Common stock equivalents (2) | 1,645,255 |  |  | 295,655 |  |  | 407,274 |
Denominator for diluted net income per PBF Energy Class A common share-adjusted weighted average shares | 118,773,606 |  |  | 113,898,845 |  |  | 103,606,709 |
Diluted net income attributable to PBF Energy Inc. stockholders per Class A common share | $ | 1.10 |  |  | $ | 3.73 |  |  | $ | 1.74 |
——————————
(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 (based on a 26.0%, 39.6% and 39.1% annualized statutory corporate tax rate for the years ended December 31, 2018, 2017 and 2016) attributable to the converted units.
(2) | Represents an adjustment to weighted-average diluted shares outstanding to assume the full exchange of common stock equivalents, including options and warrants for PBF LLC Series A Units and performance share units and options for shares of PBF Energy Class A common stock as calculated under the treasury stock method (to the extent the impact of such exchange would not be anti-dilutive). Common stock equivalents exclude the effects of options and warrants to purchase 1,293,242, 6,820,275 and 5,701,750 shares of PBF Energy Class A common stock and PBF LLC Series A Units because they are anti-dilutive for the years ended December 31, 2018, 2017 and 2016, respectively.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration