XML 70 R46.htm IDEA: XBRL DOCUMENT
v3.20.4

CREDIT FACILITIES AND DEBT (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Debt Disclosure [Abstract] |
Summary of long-term debt outstanding | Long-term debt outstanding consisted of the following:
(in millions) |  | December 31, 2020 |  | December 31, 2019
2025 Senior Secured Notes |  | $ | 1,250.6 |  |  | $ | — |
2028 Senior Notes |  | 1,000.0 |  |  | — |
2025 Senior Notes |  | 725.0 |  |  | 725.0 |
2023 Senior Notes |  | — |  |  | 500.0 |
PBFX 2023 Senior Notes |  | 526.6 |  |  | 527.2 |
Revolving Credit Facility |  | 900.0 |  |  | — |
PBFX Revolving Credit Facility |  | 200.0 |  |  | 283.0 |
PBF Rail Term Loan |  | 7.4 |  |  | 14.5 |
Catalyst financing arrangements |  | 102.5 |  |  | 47.6 |
|  | 4,712.1 |  |  | 2,097.3 |
Less—Current debt |  | (7.4) |  |  | — |
Unamortized deferred financing costs |  | (51.1) |  |  | (32.4) |
Long-term debt |  | $ | 4,653.6 |  |  | $ | 2,064.9 |
Details of the catalyst financing arrangements at each of the Company’s refineries as of December 31, 2020 are included in the following table:
Refinery |  | Metal |  | Annual interest rate |  | Expiration date
Paulsboro |  | Platinum |  | 1.47 | % |  | December 2022
Delaware City |  | Platinum |  | 2.75 | % |  | October 2021(1)
Delaware City |  | Palladium |  | 3.45 | % |  | September 2021(1)
Toledo |  | Platinum |  | 4.05 | % |  | September 2021(1)
Chalmette |  | Platinum |  | 2.10 | % |  | October 2021(1)
Chalmette |  | Platinum |  | 1.80 | % |  | November 2022
Torrance |  | Platinum |  | 1.78 | % |  | July 2022
Martinez |  | Platinum |  | 4.05 | % |  | September 2021(1)
Martinez |  | Palladium |  | 3.45 | % |  | September 2021(1)
__________________ (1) These catalyst financing arrangements are included in Long-term debt as of December 31, 2020 as the Company has the ability and intent to finance this debt through availability under other credit facilities if the catalyst financing arrangements are not renewed at maturity.
Schedule of debt maturing in the next five years and thereafter | Debt maturing in the next five years and thereafter is as follows (in millions):
Year Ending December 31, |
2021 | $ | 86.3 |
2022 | 23.6 |
2023 | 1,626.6 |
2024 | — |
2025 | 1,975.6 |
Thereafter | 1,000.0 |
| $ | 4,712.1 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration