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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Equity (earnings) from refining and logistics investments $ (425) $ 0 $ (425) $ 0
Equity earnings from Laramie Energy, LLC 425 0 425 0
Revenues 1,783,927 2,106,332 3,469,136 3,456,625
Operating expenses        
Cost of revenues (excluding depreciation) 1,574,806 1,808,925 2,863,826 3,159,174
Operating expense (excluding depreciation) 101,843 80,865 184,963 160,881
Depreciation and amortization 28,216 25,583 52,576 49,363
Loss (gain) on sale of assets, net 0 15 0 15
General and administrative expense (excluding depreciation) 23,168 15,438 42,454 31,331
Acquisition and integration costs 7,273 0 12,544 63
Par West redevelopment and other costs 2,613 1,477 5,363 2,865
Total operating expenses 1,737,494 1,932,303 3,161,301 3,403,692
Operating income 46,433 174,029 307,835 52,933
Other income (expense)        
Interest expense and financing costs, net (14,909) (18,154) (31,159) (34,548)
Debt extinguishment and commitment costs 38 (5,672) (17,682) (5,672)
Other income, net 379 47 344 49
Total other expense, net (14,492) (23,779) (37,791) (40,171)
Income before income taxes 31,941 150,250 270,044 12,762
Income tax expense (1,928) (1,125) (2,141) (688)
Net income $ 30,013 $ 149,125 $ 267,903 $ 12,074
Income per share        
Basic (in dollars per share) $ 0.50 $ 2.51 $ 4.45 $ 0.20
Diluted (in dollars per share) $ 0.49 $ 2.50 $ 4.39 $ 0.20
Weighted-average number of shares outstanding        
Basic (in shares) 60,399 59,479 60,255 59,449
Diluted (in shares) 60,993 59,642 61,020 59,644
Laramie Energy Company        
Equity (earnings) from refining and logistics investments $ 0 $ 0 $ (10,706) $ 0
Equity earnings from Laramie Energy, LLC $ 0 $ 0 $ 10,706 $ 0