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INVENTORIES (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016
Inventory [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Crude oil and feedstocks | $ 1,044,824 |  |  |  | $ 1,073,093 |  |  |  | $ 1,044,824 | $ 1,073,093 |  |
Refined products and blendstocks | 1,361,629 |  |  |  | 1,342,294 |  |  |  | 1,361,629 | 1,342,294 |  |
Warehouse stock and other | 111,112 |  |  |  | 98,866 |  |  |  | 111,112 | 98,866 |  |
Other Inventory, Gross | 2,517,565 |  |  |  | 2,514,253 |  |  |  | 2,517,565 | 2,514,253 |  |
Lower of cost or market adjustment | (651,734) |  |  |  | (300,456) |  |  |  | (651,734) | (300,456) |  | $ (595,988)
Total inventories | 1,865,831 |  |  |  | 2,213,797 |  |  |  | 1,865,831 | 2,213,797 |  |
Income (loss) from operations | (446,236) | $ 286,433 | $ 422,263 | $ 95,660 | 254,613 | $ 587,260 | $ (111,048) | $ 795 | 358,120 | 731,620 | [1] | 499,463
Net income (loss) | (346,673) | $ 192,466 | $ 287,687 | $ 41,811 | 260,386 | $ 347,226 | $ (104,151) | $ (20,030) | 175,291 | 483,431 |  | $ 225,518
Inventory, LIFO Reserve, Effect on Income, Net |  |  |  |  |  |  |  |  | 21,881 | 4,940 |  |
Titled Inventory [Member] |  |  |  |  |  |  |  |  |  |  |  |
Inventory [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Crude oil and feedstocks | 1,044,824 |  |  |  | 1,073,093 |  |  |  | 1,044,824 | 1,073,093 |  |
Refined products and blendstocks | 1,026,921 |  |  |  | 1,030,817 |  |  |  | 1,026,921 | 1,030,817 |  |
Warehouse stock and other | 111,112 |  |  |  | 98,866 |  |  |  | 111,112 | 98,866 |  |
Other Inventory, Gross | 2,182,857 |  |  |  | 2,202,776 |  |  |  | 2,182,857 | 2,202,776 |  |
Lower of cost or market adjustment | (557,187) |  |  |  | (232,652) |  |  |  | (557,187) | (232,652) |  |
Total inventories | 1,625,670 |  |  |  | 1,970,124 |  |  |  | 1,625,670 | 1,970,124 |  |
Inventory Supply and Offtake Arrangements [Member] |  |  |  |  |  |  |  |  |  |  |  |
Inventory [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Crude oil and feedstocks | 0 |  |  |  | 0 |  |  |  | 0 | 0 |  |
Refined products and blendstocks | 334,708 |  |  |  | 311,477 |  |  |  | 334,708 | 311,477 |  |
Warehouse stock and other | 0 |  |  |  | 0 |  |  |  | 0 | 0 |  |
Other Inventory, Gross | 334,708 |  |  |  | 311,477 |  |  |  | 334,708 | 311,477 |  |
Lower of cost or market adjustment | (94,547) |  |  |  | (67,804) |  |  |  | (94,547) | (67,804) |  |
Total inventories | $ 240,161 |  |  |  | $ 243,673 |  |  |  | 240,161 | 243,673 |  |
Adjustment [Member] |  |  |  |  |  |  |  |  |  |  |  |
Inventory [Line Items] |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from operations |  |  |  |  |  |  |  |  | $ (351,278) | $ 295,532 |  |
[1] | (1)The Logistics segment includes 100% of the income from operations of TVPC as TVPC is consolidated by PBFX. PBFX records net income attributable to noncontrolling interest for the 50% equity interest in TVPC held by PBF Holding. PBF Holding (included in the Refining segment) records equity income in investee related to its 50% noncontrolling ownership interest in TVPC. For the purposes of the Company’s consolidated financial statements, PBF Holding’s equity income in investee and PBFX’s net income attributable to noncontrolling interest eliminate in consolidation.

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