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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2020
East Coast Storage Assets Acquisition [Member] |
Business Acquisition [Line Items] |
Business Combination, Consideration Transferred, Working Capital Adjustments [Table Text Block] | The total purchase consideration and the fair values of the assets and liabilities at the acquisition date were as follows:
(in millions) | Purchase Price
Gross purchase price (a) | $ | 105.9 |
Working capital adjustments | — |
Contingent consideration (b) | 21.1 |
Total consideration | $ | 127.0 |
_______________________ (a) Includes $30.9 million net present value payable of $32.0 million due to Crown Point one year after closing. The remaining $32.0 million payment was paid in full on October 1, 2019. (b) The East Coast Storage Asset Acquisition includes consideration in the form of the PBFX Contingent Consideration over a contractual term of up to three years starting in 2019. PBFX recorded the Contingent Consideration based on its estimated fair value of $21.1 million at the acquisition date. The remaining short-term PBFX Contingent Consideration is included in “Accrued expenses” in the Consolidated Balance Sheets at December 31, 2020.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the final amounts recognized for assets acquired and liabilities assumed as of the acquisition date:
(in millions) | Fair Value Allocation
Accounts receivable | $ | 0.4 |
Prepaid and other current assets | 0.6 |
Property, plant and equipment | 115.6 |
Intangible assets (a) | 13.3 |
Accounts payable | (0.9) |
Accrued expenses | (1.3) |
Other long-term liabilities | (0.7) |
Fair value of net assets acquired | $ | 127.0 |
_____________________ (a) Intangible assets are included in “Deferred charges and other assets” within the Consolidated Balance Sheets.
Business Acquisition, Pro Forma Information [Table Text Block] |
| Year Ended December 31, 2018
(Unaudited)
PBF Energy |
Pro forma revenues | $ | 27,203.5 |
Pro forma net income attributable to PBF Energy Inc. stockholders | 124.6 |
Pro forma net income available to Class A common stock per share: |
Basic | $ | 1.08 |
Diluted | $ | 1.07 |
PBF LLC |
Pro forma revenues | $ | 27,203.5 |
Pro forma net income attributable to PBF LLC | 130.2 |
Martinez Acquisition |
Business Acquisition [Line Items] |
Business Combination, Consideration Transferred, Working Capital Adjustments [Table Text Block] | The total purchase consideration and the fair values of the assets and liabilities at the acquisition date were as follows:
(in millions) | Purchase Price |
Gross purchase price | $ | 960.0 |  |
Working capital, including post close adjustments | 216.1 |  |
Contingent consideration (a) | 77.3 |  |
Total consideration | $ | 1,253.4 |  |
_________________________ (a) The Martinez Acquisition includes an obligation for the Company to make post-closing earn-out payments to the Seller based on certain earnings thresholds of the Martinez refinery (as set forth in the Sale and Purchase Agreement), for a period of up to four years following the acquisition closing date (the “Martinez Contingent Consideration”). The Company recorded the Martinez Contingent Consideration based on its estimated fair value of $77.3 million at the acquisition date, which was recorded within “Other long-term liabilities” within the Consolidated Balance Sheets.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the final amounts recognized for assets acquired and liabilities assumed as of the acquisition date:
(in millions) | Fair Value Allocation
Inventories | $ | 224.1 |
Prepaid and other current assets | 5.4 |
Property, plant and equipment | 987.9 |
Operating lease right of use assets (a) | 7.8 |
Financing lease right of use assets (a) | 63.5 |
Deferred charges and other assets, net | 63.7 |
Accrued expenses | (1.4) |
Current operating lease liabilities | (1.9) |
Current financing lease liabilities (b) | (6.0) |
Long-term operating lease liabilities | (5.9) |
Long-term financing lease liabilities | (57.5) |
Other long-term liabilities - environmental obligation | (26.3) |
Fair value of net assets acquired | $ | 1,253.4 |
________________________ (a) Operating and Financing lease right of use assets are recorded in Lease right of use assets within the Consolidated Balance Sheets. (b) Current financing lease liabilities are recorded in Accrued expenses within the Consolidated Balance Sheet.
Business Acquisition, Pro Forma Information [Table Text Block] |
| December 31, 2020 |  | December 31, 2019
(Unaudited, in millions)
PBF Energy |  |  |
Pro-forma revenues | $ | 15,479.7 |  |  | $ | 28,323.1 |
Pro-forma net income (loss) attributable to PBF Energy Inc. stockholders | (1,423.4) |  |  | 122.6 |
Pro forma net income (loss) available to PBF Energy Class A common stock per share: |  |  |
Basic: | $ | (11.90) |  |  | $ | 1.02 |
Diluted: | $ | (11.90) |  |  | $ | 1.01 |
PBF LLC |  |  |
Pro-forma revenues | $ | 15,479.7 |  |  | $ | 28,323.1 |
Pro-forma net income (loss) attributable to PBF LLC | (1,827.8) |  |  | 165.2 |

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