XML 53 R42.htm IDEA: XBRL DOCUMENT v3.24.3

Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Schedule of Assets and Liabilities, Lessee

The following table provides information on the amounts (in thousands) of our right-of-use assets (“ROU assets”) and liabilities, weighted-average remaining lease term, and weighted average discount rate as of September 30, 2024, and December 31, 2023 and their placement within our condensed consolidated balance sheets:

Lease type						Balance Sheet Location						September 30, 2024						December 31, 2023
Assets
Finance						Property, plant, and equipment						$	30,136					$	28,264
Finance						Accumulated amortization						(13,937)						(12,212)
Finance						Property, plant, and equipment, net						$	16,199					$	16,052
Operating						Operating lease right-of-use (“ROU”) assets						435,048						346,454
Total right-of-use assets												$	451,247					$	362,506
Liabilities
Current
Finance						Other accrued liabilities						$	2,027					$	1,820
Operating						Operating lease liabilities						75,401						72,833
Long-term
Finance						Finance lease liabilities						11,899						12,438
Operating						Operating lease liabilities						370,979						282,517
Total lease liabilities												$	460,306					$	369,608
Weighted-average remaining lease term (in years)
Finance												10.46						11.02
Operating												7.37						8.67
Weighted-average discount rate
Finance												7.09		%				8.04		%
Operating												7.77		%				7.24		%

Schedule of Lease, Cost

The following table summarizes the lease costs and income recognized in our condensed consolidated statements of operations (in thousands):

												Three Months Ended September 30,												Nine Months Ended September 30,
Lease cost (income) type												2024						2023						2024						2023
Finance lease cost
Amortization of finance lease ROU assets												$	592					$	476					$	1,726					$	1,422
Interest on lease liabilities												246						154						745						446
Operating lease cost												29,319						24,898						81,686						73,188
Variable lease cost												2,041						2,807						5,454						62,394
Short-term lease cost												22						2,778						4,098						7,341
Net lease cost												$	32,220					$	31,113					$	93,709					$	144,791
Operating lease income (1)												$	(550)					$	(3,918)					$	(5,450)					$	(11,193)

_________________________________________________________

(1)The majority of our lessor income comes from leases with lease terms of one year or less and the estimated future undiscounted cash flows from lessor income are not expected to be material.

The following table summarizes the supplemental cash flow information related to leases as follows (in thousands):

												Nine Months Ended September 30,
Lease type												2024						2023
Cash paid for amounts included in the measurement of liabilities
Financing cash flows from finance leases												$	1,378					$	1,287
Operating cash flows from finance leases												715						440
Operating cash flows from operating leases												79,629						72,407
Non-cash supplemental amounts
ROU assets obtained in exchange for new finance lease liabilities												1,619						3,021
ROU assets obtained in exchange for new operating lease liabilities												150,308						35,822
ROU assets terminated in exchange for release from operating lease liabilities												41						1,439

Schedule of Lessee, Operating Lease, Liability, Maturity

The table below includes the estimated future undiscounted cash flows for finance and operating leases as of September 30, 2024 (in thousands):

For the year ending December 31,						Finance leases						Operating leases						Total
2024 (1)						$	734					$	26,788					$	27,522
2025						3,094						104,944						108,038
2026						2,620						105,622						108,242
2027						2,400						96,206						98,606
2028						1,559						91,526						93,085
2029						1,179						18,174						19,353
Thereafter						8,445						120,769						129,214
Total lease payments						20,031						564,029						584,060
Less amount representing interest						(6,105)						(117,649)						(123,754)
Present value of lease liabilities						$	13,926					$	446,380					$	460,306

_________________________________________________________

(1)Represents the period from October 1, 2024 to December 31, 2024.

Schedule of Finance Lease, Liability, Maturity

The table below includes the estimated future undiscounted cash flows for finance and operating leases as of September 30, 2024 (in thousands):

For the year ending December 31,						Finance leases						Operating leases						Total
2024 (1)						$	734					$	26,788					$	27,522
2025						3,094						104,944						108,038
2026						2,620						105,622						108,242
2027						2,400						96,206						98,606
2028						1,559						91,526						93,085
2029						1,179						18,174						19,353
Thereafter						8,445						120,769						129,214
Total lease payments						20,031						564,029						584,060
Less amount representing interest						(6,105)						(117,649)						(123,754)
Present value of lease liabilities						$	13,926					$	446,380					$	460,306

_________________________________________________________

(1)Represents the period from October 1, 2024 to December 31, 2024.

X

- Definition

Assets And Liabilities, Lessee [Table Text Block]

+ References

No definition available.

+ Details

Name:	parr_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix:	parr_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

+ Details

Name:	us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

+ Details

Name:	us-gaap_LeaseCostTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_LeasesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

+ Details

Name:	us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration