XML 130 R110.htm IDEA: XBRL DOCUMENT v3.25.0.1
NET INCOME PER SHARE OF PBF ENERGY (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Basic Earnings Per Share:      
Net income (loss) attributable to PBF Energy Inc. stockholders $ (533.8) $ 2,140.5 $ 2,876.8
Less: Income allocated to participating securities 0.1 0.0 0.0
Income (loss) available to PBF Energy Inc. stockholders - basic $ (533.9) $ 2,140.5 $ 2,876.8
Denominator for basic net income (loss) per Class A common share-weighted average shares (in shares) [1] 116,248,827 124,953,858 122,598,076
Basic net income (loss) attributable to PBF Energy per Class A common share (in usd per share) $ (4.59) $ 17.13 $ 23.47
Diluted Earnings Per Share:      
Income (loss) available to PBF Energy Inc. stockholders - basic $ (533.9) $ 2,140.5 $ 2,876.8
Plus: Net income (loss) attributable to noncontrolling interest [1] (6.0) 20.5 27.9
Less: Income tax expense (benefit) on net income (loss) per Class A common share [1] 1.6 (5.3) (7.2)
Numerator for diluted net income (loss) per Class A common share - net income (loss) attributable to PBF Energy Inc. stockholders [1] $ (538.3) $ 2,155.7 $ 2,897.5
Denominator for basic net income (loss) per Class A common share-weighted average shares (in shares) [1] 116,248,827 124,953,858 122,598,076
Effect of dilutive securities:      
Conversion of PBF LLC Series A Units (in shares) [1] 862,780 899,519 917,991
Common stock equivalents (in shares) [1],[2] 0 4,656,071 3,344,039
Denominator for diluted net income (loss) per common share-adjusted weighted average shares (in shares) 117,111,607 130,509,448 126,860,106
Diluted net income (loss) attributable to PBF Energy Inc. stockholders per Class A common share (in usd per share) $ (4.60) $ 16.52 $ 22.84
Effective tax rate 26.00% 26.00% 25.90%
Employee Stock Option      
Effect of dilutive securities:      
Antidilutive common stock excluded from computation of dilutive earnings per share (in shares) 4,413,417 18,431 3,877,035
[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 attributable to PBF Energy used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income, as well as the corresponding income tax expense (based on a 26.0%, 26.0% and 25.9% annualized statutory corporate tax rate for the years ended December 31, 2024, 2023 and 2022, respectively) 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 4,413,417, 18,431 and 3,877,035 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, 2024, 2023 and 2022, respectively. For periods showing a net loss, all common stock equivalents and unvested restricted stock are considered anti-dilutive.