XML 59 R35.htm IDEA: XBRL DOCUMENT
v3.20.4

NET INCOME PER SHARE OF PBF ENERGY | 12 Months Ended
--- | ---
Dec. 31, 2020
Earnings Per Share [Abstract] |
NET INCOME PER SHARE OF PBF ENERGY | NET INCOME PER SHARE OF PBF ENERGY 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:
(in millions, except share and per share amounts) | Year Ended December 31,
Basic Earnings Per Share: | 2020 |  | 2019 |  | 2018
Allocation of earnings: |  |  |  |  |
Net income (loss) attributable to PBF Energy Inc. stockholders | $ | (1,392.4) |  |  | $ | 319.4 |  |  | $ | 128.3 |
Less: Income allocated to participating securities | 0.1 |  |  | 0.5 |  |  | 0.7 |
Income (loss) available to PBF Energy Inc. stockholders - basic | $ | (1,392.5) |  |  | $ | 318.9 |  |  | $ | 127.6 |
Denominator for basic net income (loss) per PBF Energy Class A common share-weighted average shares | 119,617,998 |  |  | 119,887,646 |  |  | 115,190,262 |
Basic net income (loss) attributable to PBF Energy per Class A common share | $ | (11.64) |  |  | $ | 2.66 |  |  | $ | 1.11 |
Diluted Earnings Per Share: |  |  |  |  |
Numerator: |  |  |  |  |
Income (loss) available to PBF Energy Inc. stockholders - basic | $ | (1,392.5) |  |  | $ | 318.9 |  |  | $ | 127.6 |
Plus: Net income (loss) attributable to noncontrolling interest (1) | (17.1) |  |  | 4.3 |  |  | 4.6 |
Less: Income tax benefit (expense) on net income (loss) attributable to noncontrolling interest (1) | 4.6 |  |  | (1.0) |  |  | (1.2) |
Numerator for diluted net income (loss) per Class A common share - net income (loss) attributable to PBF Energy Inc. stockholders (1) | $ | (1,405.0) |  |  | $ | 322.2 |  |  | $ | 131.0 |
Denominator (1): |  |  |  |  |
Denominator for basic net income (loss) per PBF Energy Class A common share-weighted average shares | 119,617,998 |  |  | 119,887,646 |  |  | 115,190,262 |
Effect of dilutive securities: |  |  |  |  |
Conversion of PBF LLC Series A Units | 1,042,667 |  |  | 1,207,581 |  |  | 1,938,089 |
Common stock equivalents (2) | — |  |  | 758,072 |  |  | 1,645,255 |
Denominator for diluted net income (loss) per PBF Energy Class A common share-adjusted weighted average shares | 120,660,665 |  |  | 121,853,299 |  |  | 118,773,606 |
Diluted net income (loss) attributable to PBF Energy Inc. stockholders per Class A common share | $ | (11.64) |  |  | $ | 2.64 |  |  | $ | 1.10 |
—————————— (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 (loss) attributable to PBF Energy, used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income (loss), as well as the corresponding income tax expense (benefit) (based on a 26.6%, 24.9% and 26.0% annualized statutory corporate tax rate for the years ended December 31, 2020, 2019 and 2018) 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 PSUs 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 performance share units and options and warrants to purchase 14,446,894, 6,765,526 and 1,293,242 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, 2020, 2019 and 2018, respectively. For periods showing a net loss, all common stock equivalents and unvested restricted stock are considered anti-dilutive.

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 The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration