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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Net income (loss) $ 315.5 $ (1,333.3) $ 375.2
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:      
Depreciation and amortization 483.8 581.1 447.5
Impairment expense 0.0 98.8 0.0
Stock-based compensation 35.6 34.2 37.3
Change in fair value of catalyst obligations (8.5) 11.8 9.7
Deferred income taxes 11.7 1.6 103.7
Change in Tax Receivable Agreement liability 48.3 (373.5) 0.0
Non-cash change in inventory repurchase obligations (8.4) (12.6) 25.4
Non-cash lower of cost or market inventory adjustment (669.6) 268.0 (250.2)
Change in fair value of contingent consideration 32.4 (93.7) (0.8)
(Gain) loss on extinguishment of debt (79.9) 22.2 0.0
Pension and other post-retirement benefit costs 50.8 55.7 44.8
Gain on sale of assets (3.0) (477.8) (29.9)
Changes in operating assets and liabilities:      
Accounts receivable (764.7) 322.1 (116.1)
Inventories (149.3) 392.2 (6.3)
Prepaid and other current assets (16.2) (1.8) 2.7
Accounts payable 480.7 (206.6) 137.5
Accrued expenses 797.9 116.0 208.1
Deferred revenue (4.5) 27.1 0.1
Other assets and liabilities (75.3) (63.1) (55.2)
Net cash provided by (used in) operating activities 477.3 (631.6) 933.5
Cash flows from investing activities:      
Expenditures for property, plant and equipment (249.1) (196.2) (404.9)
Expenditures for deferred turnaround costs (117.7) (188.1) (299.3)
Expenditures for other assets (28.9) (9.1) (44.7)
Acquisition of Martinez refinery 0.0 (1,176.2) 0.0
Proceeds from sale of assets 7.2 543.1 36.3
Net cash used in investing activities (388.5) (1,026.5) (712.6)
Cash flows from financing activities:      
Net proceeds from issuance of PBFX common units 0.0 0.0 132.5
Dividend payments 0.0 (35.9) (143.5)
Distributions to PBFX public unitholders (39.0) (45.9) (62.5)
Payments of Capital Distribution 0.0 (0.4) (3.2)
Proceeds from Lines of Credit 0.0 1,450.0 1,350.0
Repayments of Lines of Credit 0.0 (550.0) (1,350.0)
Deferred payment for the East Coast Storage Assets Acquisition 0.0 0.0 (32.0)
Settlements of precious metal catalyst obligations (31.7) (8.8) (6.5)
Proceeds from catalyst financing arrangements 0.0 51.9 0.0
Payments on financing leases (17.8) (12.4) 0.0
Taxes paid for net settlement of equity-based compensation 0.0 (2.1) (4.8)
Payments of contingent consideration (12.2) 0.0 0.0
Purchases of treasury stock 0.0 (1.6) (4.9)
Deferred financing costs and other (1.2) (35.0) 1.6
Net cash (used in) provided by financing activities (356.8) 2,452.7 (3.3)
Net change in cash and cash equivalents (268.0) 794.6 217.6
Cash and cash equivalents, beginning of period 1,609.5 814.9 597.3
Cash and cash equivalents, end of period 1,341.5 1,609.5 814.9
Non-cash activities:      
Accrued and unpaid capital expenditures 104.0 32.1 37.2
Assets acquired or remeasured under operating and financing leases (106.6) 702.0 434.9
Fair value of the Martinez Contingent Consideration at acquisition 0.0 77.3 0.0
Cash paid during year for:      
Interest, net of capitalized interest of $9.1, $12.6 and $18.1 in 2021, 2020 and 2019, respectively 307.0 206.9 154.0
Capitalized interest 9.1 12.6 18.1
Income taxes 5.7 2.1 2.7
Collins Pipeline Company And T&M Terminal Company [Member]      
Cash flows from financing activities:      
Payments of Capital Distribution (0.7) 0.0 0.0
2025 Senior Secured Notes [Member]      
Cash flows from financing activities:      
Proceeds from Issuance of Long-term Debt 0.0 1,250.6 0.0
2028 Senior Notes [Member]      
Cash flows from financing activities:      
Proceeds from Issuance of Long-term Debt 0.0 1,000.0 0.0
Repayments of Long-term Debt (109.3) 0.0 0.0
2025 Senior Notes [Member]      
Cash flows from financing activities:      
Repayments of Long-term Debt (37.5) 0.0 0.0
2023 Senior Notes [Member]      
Cash flows from financing activities:      
Repayments of Long-term Debt 0.0 (517.5) 0.0
PBFX Revolving Credit Facility [Member]      
Cash flows from financing activities:      
Proceeds from Lines of Credit 0.0 100.0 228.0
Repayments of Lines of Credit (100.0) (183.0) (101.0)
Rail Term Loan [Member]      
Cash flows from financing activities:      
Repayments of Long-term Debt $ (7.4) $ (7.2) $ (7.0)