← PBF Energy Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | $170.8m |
$415.5m
+143.26%
|
$128.3m
-69.12%
|
$319.4m
+148.92%
|
($1.4b)
-535.94%
|
$231.0m
+116.59%
|
$2.9b
+1145.37%
|
$2.1b
-25.59%
|
($533.8m)
-124.94%
|
($158.5m)
+70.31%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | $225.5m |
$414.5m
+83.79%
|
$127.6m
-69.22%
|
$318.9m
+149.99%
|
($1.4b)
-536.66%
|
$231.0m
+116.59%
|
$2.9b
+1145.37%
|
$2.1b
-25.59%
|
($533.9m)
-124.94%
|
($158.6m)
+70.29%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $225.5m | $483.4m | $175.3m | $375.2m | ($1.3b) | $315.5m | $3.0b | $2.2b | ($540.2m) | ($160.5m) | — | |
| Depreciation, Depletion and Amortization | $105.5m | $144.0m | $207.6m | $258.1m | $325.9m | $221.1m | $262.0m | $314.4m | $358.3m | $371.6m | $652.6m | |
| Depreciation | $116.6m | $147.0m | $162.2m | $178.0m | $223.0m | $229.6m | $236.5m | $243.2m | $255.5m | $261.7m | $652.6m | |
| Depreciation, Amortization and Accretion, Net | $232.9m | $299.9m | $378.6m | $447.5m | $581.1m | $483.8m | $533.9m | $591.6m | $643.0m | $662.8m | $652.6m | |
| Deferred Income Tax Expense (Benefit) | $244.8m | $313.8m | $32.7m | $103.7m | $1.6m | $11.7m | $420.2m | $537.0m | ($239.2m) | ($77.9m) | $346.8m | |
| Share-based Payment Arrangement, Noncash Expense | $22.7m | $26.8m | $26.0m | $37.3m | $34.2m | $35.6m | $54.3m | $51.5m | $44.3m | $39.0m | $35.0m | |
| Payment, Tax Withholding, Share-based Payment Arrangement | — | — | $5.3m | $4.8m | $2.1m | $0 | — | — | — | — | — | |
| Stock-based compensation expense | $22.7m | $26.8m | $26.0m | $37.3m | $34.2m | $35.6m | $54.3m | $51.5m | $44.3m | $39.0m | $35.0m | |
| Transactions in connection with stock-based compensation plans, net | — | — | — | — | ($2.1m) | ($4.6m) | $67.8m | $38.3m | $1.4m | $2.9m | — | |
| Income (Loss) from Equity Method Investments | — | — | — | — | — | — | — | ($45.3m) | ($47.4m) | ($62.2m) | — | |
| Loss from equity method investment | — | — | — | — | — | $0 | $0 | $45.3m | $47.4m | $62.2m | — | |
| Loss (gain) on formation of SBR equity method investment | — | — | — | — | — | $0 | $0 | ($925.1m) | $8.7m | $0 | — | |
| Equity method investment - contribution | — | — | — | — | — | $0 | $0 | ($15.4m) | ($35.0m) | ($25.0m) | — | |
| Equity method investment - return of capital | — | — | — | — | — | $0 | $0 | $846.0m | $1.8m | $3.4m | — | |
| Contribution of assets to SBR equity method investment | — | — | — | — | — | $0 | $0 | ($748.3m) | ($8.7m) | $0 | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | $165.4m | $332.4m | ($234.3m) | $116.1m | ($322.1m) | $764.7m | $178.8m | ($93.8m) | ($197.5m) | $1.7m | ($714.1m) | |
| Accounts receivable | ($165.4m) | ($332.4m) | $234.3m | ($116.1m) | $322.1m | ($764.7m) | ($178.8m) | $93.8m | $197.5m | ($1.7m) | ($714.1m) | |
| Increase (Decrease) in Inventories | ($236.6m) | $54.7m | $3.3m | $6.3m | ($392.2m) | $149.3m | $258.5m | $409.0m | ($587.9m) | $280.8m | ($124.0m) | |
| Inventory Write-down | ($521.3m) | — | — | — | — | — | — | — | — | — | — | |
| Non-cash lower of cost or market inventory adjustment | ($521.3m) | ($295.5m) | $351.3m | ($250.2m) | $268.0m | ($669.6m) | $0 | $0 | $0 | $313.0m | — | |
| Inventories | $236.6m | ($54.7m) | ($3.3m) | ($6.3m) | $392.2m | ($149.3m) | ($258.5m) | ($409.0m) | $587.9m | ($280.8m) | ($124.0m) | |
| Increase (Decrease) in Accounts Payable | $217.6m | $34.6m | ($111.7m) | $137.5m | ($206.6m) | $480.7m | ($95.7m) | $124.7m | ($196.7m) | $3.5m | ($143.9m) | |
| Accrued expenses | $217.8m | $359.5m | ($227.1m) | $208.1m | $116.0m | $797.9m | $881.0m | ($743.5m) | ($475.9m) | $24.1m | $917.2m | |
| Deferred revenue | $9.2m | ($4.4m) | $11.2m | $100k | $27.1m | ($4.5m) | ($2.1m) | $23.5m | ($20.3m) | ($23.0m) | — | |
| Accrued and unpaid capital expenditures | $35.6m | $26.8m | $90.2m | $37.2m | $32.1m | $104.0m | $166.1m | $145.0m | $85.5m | $220.1m | — | |
| Prepaid and other current assets | ($54.3m) | $73.5m | $10.1m | $2.7m | ($1.8m) | ($16.2m) | ($5.4m) | ($102.0m) | $19.9m | $53.5m | — | |
| Other assets and liabilities | ($27.8m) | ($53.1m) | $7.5m | ($55.2m) | ($63.1m) | ($75.3m) | $500k | ($114.7m) | ($37.2m) | ($54.4m) | — | |
| Expenditures for other assets | ($42.5m) | ($31.1m) | ($17.1m) | ($44.7m) | ($9.1m) | ($28.9m) | ($66.0m) | ($40.5m) | ($40.7m) | ($77.1m) | — | |
| Net Cash Provided by (Used in) Operating Activities | $651.9m |
$685.9m
+5.20%
|
$837.9m
+22.17%
|
$933.5m
+11.40%
|
($631.6m)
-167.66%
|
$477.3m
+175.57%
|
$4.8b
+899.79%
|
$1.3b
-71.95%
|
$43.4m
-96.76%
|
($78.0m)
-279.72%
|
$1.7b
+2224.87%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $298.7m | $306.7m | $317.5m | $404.9m | $196.2m | $249.1m | $633.3m | $659.6m | $390.9m | $705.2m | ($914.6m) | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | ($11.4m) | ($1.5m) | $43.1m | $29.9m | $477.8m | $3.0m | ($900k) | $1.3m | ($400k) | ($705.2m) | ($32.1m) | |
| Net Cash Provided by (Used in) Investing Activities | ($1.4b) | ($687.0m) | ($685.6m) | ($712.6m) | ($1.0b) | ($388.5m) | ($1.0b) | ($338.6m) | ($1.0b) | ($480.2m) | ($615.0m) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | — | ($25.5m) | $0 | $0 | ($22.2m) | $79.9m | ($66.1m) | ($5.7m) | $0 | $0 | — | |
| Repayments of Long-term Debt | $194.5m | — | — | — | — | — | — | — | — | $0 | ($3.1b) | |
| Proceeds from Issuance of Long-term Debt | $0 | $725.0m | $0 | $0 | $2.3b | $0 | $0 | $496.6m | $0 | $788.5m | $2.5b | |
| Loss on extinguishment of debt | $0 | $25.5m | $0 | $0 | $22.2m | ($79.9m) | $66.1m | $5.7m | $0 | $0 | — | |
| Proceeds from revolver borrowings | $550.0m | $490.0m | $0 | $1.4b | $1.4b | $0 | $400.0m | $0 | $200.0m | $3.2b | — | |
| Repayments of revolver borrowings | ($200.0m) | ($490.0m) | ($350.0m) | ($1.4b) | ($550.0m) | $0 | ($1.4b) | $0 | $0 | ($3.3b) | — | |
| Payments for Repurchase of Common Stock | $743k | $1.0m | $8.2m | $4.9m | $1.6m | $0 | $156.4m | $532.5m | $329.1m | $0 | — | |
| Proceeds from Issuance of Common Stock | — | — | — | — | $0 | — | — | — | — | — | — | |
| Share repurchases of PBF Energy’s Class A common stock | ($743k) | ($1.0m) | ($8.2m) | ($4.9m) | ($1.6m) | $0 | ($156.4m) | ($532.5m) | ($329.1m) | $0 | — | |
| Dividends paid | $117 | $132 | $139 | $144 | — | — | — | — | — | — | ($129.6m) | |
| Dividend payments | ($117.5m) | ($131.7m) | ($138.9m) | ($143.5m) | ($35.9m) | $0 | ($24.7m) | ($105.8m) | ($119.0m) | ($125.6m) | — | |
| Proceeds from (Payments for) Other Financing Activities | — | — | — | $1.6m | ($35.0m) | ($1.2m) | ($31.3m) | ($35.8m) | ($100k) | ($12.7m) | — | |
| Deferred financing costs and other | $0 | ($17.1m) | ($16.2m) | $1.6m | ($35.0m) | ($1.2m) | ($31.3m) | ($35.8m) | ($100k) | ($12.7m) | — | |
| Net Cash Provided by (Used in) Financing Activities | $544.0m |
($172.1m)
-131.64%
|
($128.1m)
+25.58%
|
($3.3m)
+97.42%
|
$2.5b
+74424.24%
|
($356.8m)
-114.55%
|
($2.9b)
-712.50%
|
($1.4b)
+51.02%
|
($249.3m)
+82.44%
|
$550.0m
+320.62%
|
($739.0m)
-234.36%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | $794.6m | ($268.0m) | $862.1m | ($420.1m) | ($1.2b) | ($8.2m) | $894.1m | |
| Cash and cash equivalents, beginning of period | — | — | $597.3m | $814.9m | $1.6b | $1.3b | $2.2b | $1.8b | $536.1m | $527.9m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | $1.6b | $1.3b | $2.2b | $1.8b | $536.1m | $527.9m | $894.1m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | $154.0m | $206.9m | $307.0m | $249.7m | $103.6m | $93.1m | $156.9m | — | |
| Income Taxes Paid, Net | $3.8m | $0 | $699k | $2.7m | $2.1m | $5.7m | $148.9m | $299.0m | $17.7m | $4.0m | — | |
| Additional Financial Items | ||||||||||||
| General and Administrative Expense | $166.5m | $214.8m | $277.0m | $284.0m | $248.5m | $247.3m | $468.7m | $362.5m | $260.4m | $332.3m | — | |
| Income Tax Expense (Benefit) | $137.7m | $315.6m | $33.5m | $104.3m | $2.1m | $12.1m | $584.8m | $723.8m | ($228.4m) | ($74.1m) | — | |
| Operating Expenses | $1.4b | $1.7b | $1.7b | $1.8b | — | — | — | — | — | — | — | |
| Operating Lease, Expense | — | — | $52.3m | — | — | — | — | — | — | — | — | |
| Payments of Financing Costs | $0 | $17.1m | $16.2m | — | — | — | — | — | — | — | — | |
| Proceeds from Stock Options Exercised | — | ($10.5m) | $14.0m | $0 | $0 | — | — | — | — | — | — | |
| Change in fair value of catalyst obligations | — | $2.2m | ($5.6m) | $9.7m | $11.8m | ($8.5m) | $2.0m | ($1.1m) | $0 | $0 | — | |
| Change in Tax Receivable Agreement liability | ($12.9m) | ($250.9m) | ($13.9m) | $0 | ($373.5m) | $48.3m | $290.3m | ($2.0m) | $0 | $0 | — | |
| Change in fair value of contingent consideration, net | — | — | $0 | ($800k) | ($93.7m) | $32.4m | $48.3m | ($45.8m) | ($3.3m) | $0 | — | |
| Pension and other post-retirement benefit costs | $38.0m | $42.2m | $47.4m | $44.8m | $55.7m | $50.8m | $47.6m | $47.9m | $51.9m | $52.6m | — | |
| Gain on insurance recoveries, net | — | — | — | — | — | — | — | $0 | $0 | ($832.5m) | — | |
| Insurance proceeds | — | — | — | — | — | — | — | $0 | $0 | $532.9m | — | |
| (Gain) loss on sale of assets | $11.4m | $1.5m | ($43.1m) | ($29.9m) | ($477.8m) | ($3.0m) | $900k | ($1.3m) | $400k | ($93.1m) | — | |
| Payment related to Tax Receivable Agreement | — | — | — | — | — | — | $0 | $0 | ($44.8m) | ($125.4m) | — | |
| Expenditures for deferred turnaround costs | ($198.7m) | ($379.1m) | ($266.0m) | ($299.3m) | ($188.1m) | ($117.7m) | ($311.6m) | ($473.5m) | ($576.7m) | ($379.5m) | — | |
| Proceeds from sale of assets | $24.7m | $0 | $48.3m | $36.3m | $543.1m | $7.2m | $0 | $4.4m | $0 | $170.3m | — | |
| Distributions to PBF Energy Company LLC members other than PBF Energy | ($21.9m) | ($4.6m) | ($2.1m) | ($3.2m) | ($400k) | $0 | ($8.6m) | ($5.3m) | ($1.6m) | ($900k) | — | |
| Redemption of 2025 7.25% Senior Notes | ($194.5m) | ($736.5m) | ($6.8m) | ($7.0m) | ($524.7m) | ($154.2m) | ($1.3b) | ($666.2m) | $0 | $0 | — | |
| Redemption of PBFX 2023 Senior Notes | — | — | — | — | — | $0 | $0 | ($525.0m) | $0 | $0 | — | |
| Settlements of precious metal catalyst obligations | — | — | — | ($6.5m) | ($8.8m) | ($31.7m) | ($56.2m) | ($3.1m) | $0 | $0 | — | |
| Payments on financing leases | — | — | $0 | $0 | ($12.4m) | ($17.8m) | ($11.3m) | ($14.1m) | ($12.2m) | ($11.2m) | — | |
| Proceeds from insurance premium financing | — | — | — | — | $0 | $0 | $2.1m | $13.0m | $123.2m | $115.6m | — | |
| Payments of insurance premium financing | — | — | — | — | — | — | $0 | $0 | ($111.9m) | ($106.6m) | — | |
| Payments of contingent consideration | — | — | — | $0 | $0 | ($12.2m) | ($3.1m) | ($80.1m) | $0 | $0 | — | |
| Net change in cash and cash equivalents | — | — | $24.3m | $217.6m | $794.6m | ($268.0m) | $862.1m | ($420.1m) | ($1.2b) | ($8.2m) | — | |
| Assets acquired or remeasured under operating and financing leases | — | — | — | $434.9m | $702.0m | ($106.6m) | $54.7m | $271.6m | $288.6m | $156.2m | — | |
| Settlement of affiliate note payable to fund investment in SBR working capital | — | — | — | — | — | $0 | $0 | ($74.9m) | $0 | $0 | — | |
| Interest, net of capitalized interest of $30.0, $18.6 and $38.2 in 2025, 2024 and 2023, respectively | — | $166.5m | $164.4m | $154.0m | $206.9m | $307.0m | $249.7m | $103.6m | $93.1m | $156.9m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.