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Condensed Financial Information of Registrant | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure | SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT PAR PACIFIC HOLDINGS, INC. (PARENT ONLY) BALANCE SHEETS (in thousands, except share data)
| December 31, 2019 |  | December 31, 2018
ASSETS |  |  |
Current assets |  |  |
Cash and cash equivalents | $ | 6,309 |  |  | $ | 28,701 |
Restricted cash | 743 |  |  | 743 |
Total cash, cash equivalents, and restricted cash | 7,052 |  |  | 29,444 |
Prepaid and other current assets | 12,325 |  |  | 11,711 |
Due from subsidiaries | 180,686 |  |  | 43,928 |
Total current assets | 200,063 |  |  | 85,083 |
Property, plant, and equipment |  |  |
Property, plant, and equipment | 20,961 |  |  | 18,939 |
Less accumulated depreciation, depletion, and amortization | (12,117 | ) |  | (9,034 | )
Property, plant, and equipment, net | 8,844 |  |  | 9,905 |
Long-term assets |  |  |
Operating lease assets | 4,276 |  |  | — |
Investment in subsidiaries | 636,742 |  |  | 638,975 |
Other long-term assets | 1,128 |  |  | 3,334 |
Total assets | $ | 851,053 |  |  | $ | 737,297 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |
Current liabilities |  |  |
Accounts payable | $ | 2,597 |  |  | $ | 8,312 |
Operating lease liabilities | 698 |  |  | — |
Other accrued liabilities | 14,591 |  |  | 12,349 |
Due to subsidiaries | 125,778 |  |  | 96,963 |
Total current liabilities | 143,664 |  |  | 117,624 |
Long-term liabilities |  |  |
Long-term debt, net of current maturities | 44,783 |  |  | 100,411 |
Common stock warrants | 8,206 |  |  | 5,007 |
Finance lease liabilities | 223 |  |  | 475 |
Operating lease liabilities | 5,629 |  |  | — |
Other liabilities | 306 |  |  | 1,451 |
Total liabilities | 202,811 |  |  | 224,968 |
Stockholders’ equity |  |  |
Preferred stock, $0.01 par value: 3,000,000 shares authorized, none issued | — |  |  | — |
Common stock, $0.01 par value; 500,000,000 shares authorized at December 31, 2019 and December 31, 2018, 53,254,151 shares and 46,983,924 shares issued at December 31, 2019 and December 31, 2018, respectively | 533 |  |  | 470 |
Additional paid-in capital | 715,069 |  |  | 617,937 |
Accumulated deficit | (67,942 | ) |  | (108,751 | )
Accumulated other comprehensive income | 582 |  |  | 2,673 |
Total stockholders’ equity | 648,242 |  |  | 512,329 |
Total liabilities and stockholders’ equity | $ | 851,053 |  |  | $ | 737,297 |
This statement should be read in conjunction with the notes to consolidated financial statements. SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT PAR PACIFIC HOLDINGS, INC. (PARENT ONLY) STATEMENTS OF OPERATIONS (in thousands)
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Operating expenses |  |  |  |  |
Depreciation and amortization | $ | 2,969 |  |  | $ | 4,092 |  |  | $ | 2,871 |
General and administrative expense (excluding depreciation) | 20,017 |  |  | 20,721 |  |  | 18,922 |
Acquisition and integration costs | 28 |  |  | 10,118 |  |  | 192 |
Total operating expenses | 23,014 |  |  | 34,931 |  |  | 21,985 |
Operating loss | (23,014 | ) |  | (34,931 | ) |  | (21,985 | )
Other income (expense) |  |  |  |  |
Interest expense and financing costs, net | (9,952 | ) |  | (10,867 | ) |  | (13,709 | )
Debt extinguishment and commitment costs | (6,091 | ) |  | — |  |  | (1,804 | )
Other income, net | 2,303 |  |  | 1,155 |  |  | 631 |
Change in value of common stock warrants | (3,199 | ) |  | 1,801 |  |  | (1,674 | )
Equity in earnings (losses) from subsidiaries | 81,097 |  |  | 81,942 |  |  | 111,162 |
Total other income (expense), net | 64,158 |  |  | 74,031 |  |  | 94,606 |
Income before income taxes | 41,144 |  |  | 39,100 |  |  | 72,621 |
Income tax benefit (expense) | (335 | ) |  | 327 |  |  | — |
Net income | $ | 40,809 |  |  | $ | 39,427 |  |  | $ | 72,621 |
This statement should be read in conjunction with the notes to consolidated financial statements. STATEMENTS OF COMPREHENSIVE INCOME (in thousands)
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Net income | $ | 40,809 |  |  | $ | 39,427 |  |  | $ | 72,621 |
Other comprehensive income (loss): (1) |  |  |  |  |
Other post-retirement benefits income (loss), net of tax | (2,091 | ) |  | 529 |  |  | (52 | )
Total other comprehensive income (loss), net of tax | (2,091 | ) |  | 529 |  |  | (52 | )
Comprehensive income | $ | 38,718 |  |  | $ | 39,956 |  |  | $ | 72,569 |
____________________________________________________ (1)Other comprehensive income (loss) relates to benefit plans at our subsidiaries. SCHEDULE I - CONDENSED FINANCIAL INFORMATION OF REGISTRANT PAR PACIFIC HOLDINGS, INC. (PARENT ONLY) STATEMENTS OF CASH FLOWS (in thousands)
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 40,809 |  |  | $ | 39,427 |  |  | $ | 72,621 |
Adjustments to reconcile net income to cash used in operating activities: |  |  |  |  |
Depreciation and amortization | 2,969 |  |  | 4,092 |  |  | 2,871 |
Non-cash interest expense | 4,600 |  |  | 4,925 |  |  | 5,617 |
Change in value of common stock warrants | 3,199 |  |  | (1,801 | ) |  | 1,674 |
Stock-based compensation | 6,437 |  |  | 6,196 |  |  | 7,204 |
Equity in losses (income) of subsidiaries | (81,097 | ) |  | (81,942 | ) |  | (111,162 | )
Debt extinguishment and commitment costs | 6,091 |  |  | — |  |  | 1,804 |
Net changes in operating assets and liabilities: |  |  |  |  |
Prepaid and other assets | 1,592 |  |  | (2,604 | ) |  | (2,568 | )
Accounts payable, other accrued liabilities, and operating lease assets and liabilities | (8,441 | ) |  | 5,601 |  |  | 3,088 |
Net cash used in operating activities | (23,841 | ) |  | (26,106 | ) |  | (18,851 | )
Cash flows from investing activities: |  |  |  |  |
Investments in subsidiaries | — |  |  | — |  |  | (2,072 | )
Distributions from subsidiaries | 16,673 |  |  | — |  |  | 70,645 |
Capital expenditures | (1,829 | ) |  | (3,682 | ) |  | (5,366 | )
Due to (from) subsidiaries | (6,519 | ) |  | (25,102 | ) |  | 80,762 |
Other investing activities | 31 |  |  | — |  |  | — |
Net cash provided by (used in) investing activities | 8,356 |  |  | (28,784 | ) |  | 143,969 |
Cash flows from financing activities: |  |  |  |  |
Proceeds from sale of common stock, net of offering costs | — |  |  | 19,318 |  |  | — |
Proceeds from borrowings | 63,406 |  |  | 10,770 |  |  | — |
Repayments of borrowings | (76,323 | ) |  | (11,253 | ) |  | (68,873 | )
Payment of deferred loan costs | (252 | ) |  | — |  |  | — |
Exercise of stock options | 8,171 |  |  | — |  |  | — |
Payment for debt extinguishment and commitment costs | (1,899 | ) |  | — |  |  | — |
Other financing activities, net | (10 | ) |  | (860 | ) |  | (993 | )
Net cash provided by (used in) financing activities | (6,907 | ) |  | 17,975 |  |  | (69,866 | )
Net increase (decrease) in cash, cash equivalents, and restricted cash | (22,392 | ) |  | (36,915 | ) |  | 55,252 |
Cash, cash equivalents, and restricted cash at beginning of period | 29,444 |  |  | 66,359 |  |  | 11,107 |
Cash, cash equivalents, and restricted cash at end of period | $ | 7,052 |  |  | $ | 29,444 |  |  | $ | 66,359 |
Supplemental cash flow information: |  |  |  |  |
Net cash received (paid) for: |  |  |  |  |
Interest | $ | (5,357 | ) |  | $ | (5,750 | ) |  | $ | (7,856 | )
Taxes | (220 | ) |  | (49 | ) |  | (1,478 | )
Non-cash investing and financing activities: |  |  |  |  |
Accrued capital expenditures | $ | 497 |  |  | $ | 714 |  |  | $ | 370 |
ROU assets obtained in exchange for new finance lease liabilities | 198 |  |  | 539 |  |  | 165 |
ROU assets obtained in exchange for new operating lease liabilities | 134 |  |  | — |  |  | — |
Common stock issued for business combination | 36,980 |  |  | — |  |  | — |
Non-cash contribution to subsidiary for business combination | (36,980 | ) |  | — |  |  | — |
Common stock issued to repurchase convertible notes | 74,290 |  |  | — |  |  | — |
This statement should be read in conjunction with the notes to consolidated financial statements.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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