XML 96 R75.htm IDEA: XBRL DOCUMENT v3.10.0.1
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.