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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents (PBFX: $19,908 and $19,664, respectively) $ 597,286 $ 573,021
Accounts receivable 718,207 952,552
Inventories 1,865,831 2,213,797
Prepaid and other current assets 55,608 63,589
Total current assets 3,236,932 3,802,959
Property, plant and equipment, net (PBFX: $862,117 and $684,488, respectively) 3,820,892 3,479,213
Deferred tax assets 48,500 53,638
Deferred charges and other assets, net 899,091 782,183
Total assets 8,005,415 [1] 8,117,993 [2]
Current liabilities:    
Accounts payable 488,432 578,551
Accrued expenses 1,623,619 1,814,854
Deferred revenue 20,086 8,933
Note payable 0 5,621
Current debt 2,378 10,987
Total current liabilities 2,134,515 2,418,946
Long-term debt (PBFX: $673,324 and $548,793, respectively) 1,931,316 2,175,042
Deferred tax liabilities 40,365 33,155
Payable to related parties pursuant to tax receivable agreement 373,512 362,142
Other long-term liabilities 277,228 225,759
Total liabilities 4,756,936 5,215,044
Equity:    
Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares outstanding at December 31, 2018 and 2017 0 0
Treasury stock, at cost, 6,274,261 shares outstanding at December 31, 2018 and 6,132,884 shares outstanding at December 31, 2017 (160,800) (152,585)
Additional paid in capital 2,633,750 2,277,739
Retained earnings 225,838 236,786
Accumulated other comprehensive loss (22,428) (25,381)
Total PBF Energy Inc. equity 2,676,465 2,336,654
Noncontrolling interest 572,014 566,295
Total equity 3,248,479 2,902,949
Total liabilities and equity 8,005,415 8,117,993
Class A Common Stock [Member]    
Equity:    
Common stock, value, issued 105 95
Class B Common Stock [Member]    
Equity:    
Common stock, value, issued $ 0 $ 0
[1] (4)The Refining segment includes capital expenditures of $971,932 related to the acquisition of the Torrance refinery and related logistics assets that was completed in the third quarter of 2016. Additionally, the Refining segment includes capital expenditures of $2,659 for the working capital settlement related to the acquisition of the Chalmette refinery that was finalized in the first quarter of 2016. The Logistics segment includes $98,373 for the PBFX Plains Asset Purchase that was completed in the second quarter of 2016.
[2] (5)The Logistics segment includes 100% of the assets of TVPC as TVPC is consolidated by PBFX. PBFX records a noncontrolling interest for the 50% equity interest in TVPC held by PBF Holding. PBF Holding (included in the Refining segment) records an equity investment in TVPC reflecting its noncontrolling ownership interest. For the purposes of the Company’s consolidated financial statements, PBFX’s noncontrolling interest in TVPC and PBF Holding’s equity investment in TVPC eliminate in consolidation.