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Acquisitions (Tables)

6 Months Ended

Jun. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Preliminary Fair Value of Assets Acquired and Liabilities Assumed

A summary of the preliminary fair value of the assets acquired and liabilities assumed is as follows (in thousands):

Trade accounts receivable			$	2,395
Inventories			299,228
Property, plant, and equipment			259,088
Operating lease right-of-use assets			3,562
Investment in refining and logistics subsidiaries			86,600
Other long-term assets			4,094
Total assets (1)			654,967
Current operating lease liabilities			2,081
Other current liabilities			7,056
Environmental liabilities			18,869
Long-term operating lease liabilities			1,481
Total liabilities			29,487
Total			$	625,480

_______________________________________________________

(1)We allocated $531.7 million and $123.3 million of total assets to our refining and logistics segments, respectively.

Schedule of Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information presents our consolidated revenues and net income (loss) as if the Billings Acquisition had been completed on January 1, 2022 (in thousands):

						Six Months Ended June 30,
						2023						2022
Revenues						$	4,410,002					$	4,733,450
Net income (loss)						419,113						(80,237)

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

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- References

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-1

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