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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Operating Loss Carryforwards [Line Items]

Summary of the income tax provision

The income tax provision in the PBF Energy Consolidated Statements of Operations consists of the following:

(in millions)			Year Ended December 31, 2021						Year Ended December 31, 2020						Year Ended December 31, 2019
Current expense (benefit):
Federal			$	0.3					$	(1.7)					$	0.2
Foreign			—						—						0.1
State			0.1						2.2						0.3
Total current			0.4						0.5						0.6
Deferred expense (benefit):
Federal			19.1						(6.6)						91.8
Foreign			(13.1)						5.4						(8.7)
State			5.7						2.8						20.6
Total deferred			11.7						1.6						103.7
Total provision for income taxes			$	12.1					$	2.1					$	104.3

Schedule of effective income tax rate reconciliation

The difference between PBF Energy’s effective income tax rate and the United States statutory rate is reconciled below:

			Year Ended December 31, 2021						Year Ended December 31, 2020						Year Ended December 31, 2019
Provision at Federal statutory rate			21.0		%				21.0		%				21.0		%
Increase (decrease) attributable to flow-through of certain tax adjustments:
State income taxes (net of federal income tax)			4.9		%				5.6		%				3.9		%
Nondeductible/nontaxable items			0.9		%				(0.1)		%				0.1		%
Rate differential from foreign jurisdictions			(0.4)		%				—		%				(0.2)		%
Provision to return adjustment			(0.1)		%				(0.1)		%				(0.1)		%
Adjustment to deferred tax assets and liabilities for change in tax rates			2.2		%				0.1		%				(0.5)		%
Stock-based compensation			—		%				—		%				0.1		%
Deferred tax asset valuation allowance			(23.2)		%				(25.8)		%				—		%
Other			(0.3)		%				(0.9)		%				0.3		%
Effective tax rate			5.0		%				(0.2)		%				24.6		%

Schedule of Income Tax

For financial reporting purposes, income (loss) before income taxes attributable to PBF Energy Inc. stockholders includes the following components:

(in millions)			Year Ended December 31, 2021						Year Ended December 31, 2020						Year Ended December 31, 2019
United States income (loss)			$	296.4					$	(1,413.0)					$	450.0
Foreign income (loss)			(53.3)						22.7						(26.3)
Total income (loss) before income taxes attributable to PBF Energy Inc. stockholders			$	243.1					$	(1,390.3)					$	423.7

Summary of the components of deferred tax assets and liabilities

A summary of the components of PBF Energy’s deferred tax assets and deferred tax liabilities consists of the following: 

(in millions)			December 31, 2021						December 31, 2020
Deferred tax assets
Purchase interest step-up			$	141.2					$	155.2
Inventory			—						146.5
Pension, employee benefits and compensation			63.7						48.5
Hedging			4.9						4.3
Net operating loss carry forwards			600.0						566.9
Environmental liabilities			99.7						100.8
Lease liabilities			308.7						223.4
Interest expense limitation carry forwards			104.4						55.8
Other			36.2						28.4
Total deferred tax assets			1,358.8						1,329.8
Valuation allowance			(308.5)						(358.4)
Total deferred tax assets, net			1,050.3						971.4
Deferred tax liabilities
Property, plant and equipment			825.0						845.1
Inventory			23.1						—
Right of use assets			308.7						223.4
Other			4.9						2.5
Total deferred tax liabilities			1,161.7						1,071.0
Net deferred tax liabilities			$	(111.4)					$	(99.6)

Summary of income tax examinations

Income tax years that remain subject to examination by material jurisdictions, where an examination has not already concluded are all years including and subsequent to:

United States
Federal			2018
New Jersey			2016
Michigan			2017
Delaware			2018
Indiana			2018
Pennsylvania			2018
New York			2018
Louisiana			2018
California			2017

PBF LLC [Member]

Operating Loss Carryforwards [Line Items]

Summary of the income tax provision

The reported income tax (benefit) expense in the PBF LLC Consolidated Statements of Operations consists of the following:

(in millions)			Year Ended December 31, 2021						Year Ended December 31, 2020						Year Ended December 31, 2019
Current income tax expense (benefit)			$	0.5					$	(1.2)					$	0.5
Deferred income tax (benefit) expense			(14.5)						7.3						(8.8)
Total income tax (benefit) expense			$	(14.0)					$	6.1					$	(8.3)

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