XML 61 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
A summary of the fair value of the assets acquired and liabilities assumed is as follows (in thousands):
Cash
$
10,007

Accounts receivable
9,905

Inventories
5,375

Prepaid and other current assets
1,444

Property, plant and equipment
40,997

Land
34,800

Goodwill (1)
26,942

Intangible assets
33,647

Other non-current assets
1,228

Accounts payable and other current liabilities
(10,742
)
Deferred tax liability
(16,759
)
Other non-current liabilities
(7,235
)
Total
$
129,609

________________________________________________________
(1) We allocated $13.5 million, $2.7 million, and $10.8 million of goodwill to our refining, retail, and logistics reporting units, respectively.
A summary of the fair value of the assets acquired and liabilities assumed is as follows (in thousands):
Cash
$
183

Accounts receivable
16,880

Inventories
28,402

Prepaid and other assets
1,304

Property, plant, and equipment
254,367

Goodwill (1)
66,449

Accounts payable and other current liabilities
(57,861
)
Wyoming Refining Senior Secured Revolver
(10,100
)
Wyoming Refining Senior Secured Term Loan
(58,036
)
Other non-current liabilities
(32,222
)
Total
$
209,366

______________________________________________
(1) We allocated $39.8 million and $26.6 million of goodwill to our refining and logistics segments, respectively.
Business Acquisition, Pro Forma Information
The following unaudited pro forma financial information presents our consolidated revenues and net income (loss) as if the WRC Acquisition had been completed on January 1, 2015 (in thousands):
 
 
Year Ended December 31,
 
 
2016
 
2015
Revenues
 
$
2,026,237

 
$
2,369,513

Net income (loss)
 
(51,239
)
 
(51,582
)
 
 
 
 
 
Income (loss) per share
 
 
 
 
Basic
 
$
(1.21
)
 
$
(1.24
)
Diluted
 
$
(1.21
)
 
$
(1.24
)
The following unaudited pro forma financial information presents our consolidated revenues and net income (loss) as if the Mid Pac acquisition had been completed on January 1, 2014 (in thousands):
 
Year Ended December 31, 2015
Revenues
$
2,093,587

Net loss
(54,941
)