PBF Holding 10-Q 7 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2019	May 06, 2019
Entity Information [Line Items]
Entity Registrant Name	PBF HOLDING Co LLC
Entity Central Index Key	0001566011
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		0
PBF Finance Corporation [Member]
Entity Information [Line Items]
Entity Registrant Name	PBF FINANCE CORPORATION
Entity Central Index Key	0001566097
Entity Common Stock, Shares Outstanding		100

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2017
Current assets:
Cash and cash equivalents		$ 384.6		$ 561.7	$ 315.8	$ 526.2	$ 315.8
Accounts receivable		863.4		710.7
Accounts receivable - affiliate		4.7		12
Inventories		2,564.8		1,864.1
Prepaid and other current assets		122.4		52.5
Total current assets		3,939.9		3,201
Property, plant and equipment, net		3,014.3		2,971.2
Investment in equity method investee		167.7		169.5
Operating Lease, Right-of-Use Asset		900.7	$ 853.9
Deferred charges and other assets, net		998.2		871.8
Total assets		9,020.8		7,213.5
Current liabilities:
Accounts payable		546		483.8
Accounts payable - affiliate		43.9		49.5
Accrued expenses		1,843.7		1,579
Operating Lease, Liability, Current		154.2
Current debt	[1]	2.5		2.4
Deferred revenue		63.6		17.1
Total current liabilities		2,653.9		2,131.8
Long-term debt		1,510.7		1,258
Deferred tax liabilities		33.2		40.4
Operating Lease, Liability, Noncurrent		747
Other long-term liabilities		251		253.5
Total liabilities		5,195.8		3,683.7
Commitments and contingencies (Note 5)
Equity:
Member’s equity		2,658.4		2,652.5
Retained earnings		1,179.4		890.3
Accumulated other comprehensive loss		(23.7)		(23.9)
Total PBF Holding Company LLC equity		3,814.1		3,518.9
Noncontrolling interest		10.9		10.9
Total equity		3,825		3,529.8	$ 3,219.7	$ 3,183.9
Total liabilities and equity		9,020.8		7,213.5
Third Party Lease [Member]
Current assets:
Operating Lease, Right-of-Use Asset		245.1		0
Current liabilities:
Operating Lease, Liability, Current		80.9		0
Operating Lease, Liability, Noncurrent		164.7		0
Lease with Affiliate [Member]
Current assets:
Operating Lease, Right-of-Use Asset		655.6	$ 604.4	0
Current liabilities:
Operating Lease, Liability, Current		73.3		0
Operating Lease, Liability, Noncurrent		$ 582.3		$ 0
[1]	Catalyst leases are valued using a market approach based upon commodity prices for similar instruments quoted in active markets and are categorized as a Level 2 measurement. The Company has elected the fair value option for accounting for its catalyst lease repurchase obligations as the Company’s liability is directly impacted by the change in fair value of the underlying catalyst. During 2018, Toledo Refining and Chalmette Refining entered into two platinum bridge leases which were settled in April 2019 and Delaware City Refining entered into a new platinum bridge lease, which will expire in the second quarter of 2019. These leases are payable at maturity and are not anticipated to be renewed. The total outstanding balance related to these bridge leases as of March 31, 2019 and December 31, 2018 was $2.5 million and $2.4 million, respectively, and is included in Current debt in the Company’s Condensed Consolidated Balance Sheets.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenues	$ 5,208.7	$ 5,799.6
Cost and expenses:
Cost of products and other	4,276.2	5,189.6
Operating expenses (excluding depreciation and amortization expense as reflected below)	453.4	411.4
Depreciation and amortization expense	94.3	76.8
Cost of sales	4,823.9	5,677.8
General and administrative expenses (excluding depreciation and amortization expense as reflected below)	51.2	58.3
Depreciation and amortization expense	2.8	2.7
Equity income in investee	(4.7)	(4)
Loss on sale of assets	0	0.1
Total cost and expenses	4,873.2	5,734.9
Income from operations	335.5	64.7
Other income (expense):
Change in fair value of catalyst leases	(3.1)	0
Interest expense, net	(27.4)	(33.3)
Other non-service components of net periodic benefit cost	(0.1)	0.3
Income before income taxes	304.9	31.7
Income tax benefit	(7.2)	(0.7)
Net income	312.1	32.4
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to PBF Holding Company LLC	$ 312.1	$ 32.4

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 312.1	$ 32.4
Other comprehensive income:
Net gain on pension and other post-retirement benefits	0.2	0.3
Total other comprehensive income	0.2	0.3
Comprehensive income	312.3	32.7
Less: comprehensive income attributable to noncontrolling interests	0	0
Comprehensive income attributable to PBF Holding Company LLC	$ 312.3	$ 32.7

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Equity Statement - USD ($) $ in Millions	Total	Member's Equity [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]
Beginning balance at Dec. 31, 2017	$ 3,183.9	$ 2,359.7	$ (27)	$ 840.4	$ 10.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	4.3	4.3
Net income	32.4			32.4
Other comprehensive income	0.3		0.3
Other	(1.2)			(1.2)
Ending balance at Mar. 31, 2018	3,219.7	2,364	(26.7)	871.6	10.8
Beginning balance at Dec. 31, 2018	3,529.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Member distributions	(23)			(23)
Distribution of assets to PBF LLC	(0.3)	(0.3)
Stock-based compensation	6.2	6.2
Net income	312.1			312.1
Other comprehensive income	0.2		0.2
Ending balance at Mar. 31, 2019	$ 3,825	$ 2,658.4	$ (23.7)	$ 1,179.4	$ 10.9

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 312,100	$ 32,400
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	98,700	81,100
Stock-based compensation	7,100	4,300
Change in fair value of catalyst leases	3,100	0
Deferred income taxes	(7,200)	(700)
Non-cash change in inventory repurchase obligations	14,200	8,800
Non-cash lower of cost or market inventory adjustment	(506,000)	(87,700)
Pension and other post-retirement benefit costs	11,200	11,800
Income from equity method investee	4,700	4,000
Distributions from equity method investee	4,700	4,000
Loss on sale of assets	0	100
Changes in operating assets and liabilities:
Accounts receivable	(152,700)	121,400
Due to/from affiliates	10,300	(5,400)
Inventories	(194,700)	(278,300)
Prepaid and other current assets	(70,000)	(36,200)
Accounts payable	40,600	32,200
Accrued expenses	213,300	(22,900)
Deferred revenue	46,500	(2,000)
Other assets and liabilities	(11,500)	(6,000)
Net cash used in operating activities	(185,000)	(147,100)
Cash flows from investing activities:
Expenditures for property, plant and equipment	(94,200)	(21,000)
Expenditures for deferred turnaround costs	(133,000)	(58,800)
Expenditures for other assets	(22,200)	(9,500)
Equity method investment - return of capital	1,800	1,000
Net cash used in investing activities	(247,600)	(88,300)
Cash flows from financing activities:
Distributions to members	(23,000)	0
Repayments of Long-term Debt	(1,700)
Proceeds from revolver borrowings	575,000	0
Repayments of revolver borrowings	325,000	0
Repayment of note payable	0	(1,200)
Proceeds from insurance premium financing	30,200	27,900
Net cash provided by financing activities	255,500	25,000
Net decrease in cash and cash equivalents	(177,100)	(210,400)
Cash and equivalents, beginning of period	561,700	526,200
Cash and equivalents, end of period	384,600	315,800
Non-cash activities:
Accrued and unpaid capital expenditures	118,100	129,000
Assets acquired under operating leases	936,600	0
Distribution of assets to parent company	300	0
Rail Term Loan [Member]
Cash flows from financing activities:
Repayments of Long-term Debt	$ (1,700)	$ (1,700)

DESCRIPTION OF THE BUSINESS AND

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION Description of the Business PBF Holding Company LLC (“PBF Holding” or the “Company”), a Delaware limited liability company, and PBF Finance Corporation (“PBF Finance”), a wholly-owned subsidiary of PBF Holding, together with the Company’s consolidated subsidiaries, owns and operates oil refineries and related facilities in North America. PBF Holding is a wholly-owned subsidiary of PBF Energy Company LLC (“PBF LLC”). PBF Energy Inc. (“PBF Energy”) is the sole managing member of, and owner of an equity interest representing approximately 99.0% of the outstanding economic interest in, PBF LLC as of March 31, 2019 . PBF Investments LLC (“PBF Investments”), Toledo Refining Company LLC (“Toledo Refining” or “TRC”), Paulsboro Refining Company LLC (“Paulsboro Refining” or “PRC”), Delaware City Refining Company LLC (“Delaware City Refining” or “DCR”), Chalmette Refining, L.L.C. (“Chalmette Refining”), PBF Western Region LLC (“PBF Western Region”), Torrance Refining Company LLC (“Torrance Refining”) and Torrance Logistics Company LLC are PBF LLC’s principal operating subsidiaries and are all wholly-owned subsidiaries of PBF Holding. Collectively, PBF Holding and its consolidated subsidiaries are referred to hereinafter as the “Company”. PBF Logistics GP LLC (“PBF GP”) serves as the general partner of PBF Logistics LP (“PBFX”). PBF GP is wholly-owned by PBF LLC. In a series of transactions, PBF Holding distributed certain assets to PBF LLC, which in turn contributed those assets to PBFX (as described in “Note 4 - Related Party Transactions”). Substantially all of the Company’s operations are in the United States. As of March 31, 2019 , the Company’s oil refineries are all engaged in the refining of crude oil and other feedstocks into petroleum products, and have been aggregated to form one reportable segment. To generate earnings and cash flows from operations, the Company is primarily dependent upon processing crude oil and selling refined petroleum products at margins sufficient to cover fixed and variable costs and other expenses. Crude oil and refined petroleum products are commodities; and factors that are largely out of the Company’s control can cause prices to vary over time. The resulting potential margin volatility can have a material effect on the Company’s financial position, earnings and cash flows. Basis of Presentation The unaudited condensed consolidated financial information furnished herein reflects all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, considered necessary for a fair presentation of the financial position and the results of operations and cash flows of the Company for the periods presented. All intercompany accounts and transactions have been eliminated in consolidation. These unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. These interim Condensed Consolidated Financial Statements should be read in conjunction with the PBF Holding Company LLC and PBF Finance Corporation financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2018 . The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the results to be expected for the full year. In 2019, the Company has changed its presentation from thousands to millions, as applicable, and as a result, any necessary rounding adjustments have been made to prior year disclosed amounts. Recently Adopted Accounting Guidance In February 2016, the Financial Accounting Standard Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”) to increase the transparency and comparability about leases among entities. Additional ASUs have been issued subsequent to ASU 2016-02 to provide supplementary clarification and implementation guidance for leases related to, among other things, the application of certain practical expedients, the rate implicit in the lease, lessee reassessment of lease classification, lessor reassessment of lease term and purchase options, variable payments that depend on an index or rate and certain transition adjustments. ASU 2016-02 and these additional ASUs are now codified as Accounting Standards Codification Standard 842 - “Leases” (“ASC 842”). ASC 842 supersedes the lease accounting guidance in Accounting Standards Codification 840 “Leases” (“ASC 840”), and requires lessees to recognize a lease liability and a corresponding lease asset for virtually all lease contracts. It also requires additional disclosures about leasing arrangements. The Company elected to utilize the “package” of three expedients, as defined in ASC 842, which retain the lease classification and initial direct costs for any leases that existed prior to adoption of the standard. The Company also has elected to not evaluate land easements that existed as of, or expired before, adoption of the new standard. The Company’s Condensed Consolidated Financial Statements for the periods prior to the adoption of ASC 842 are not adjusted and are reported in accordance with the Company’s historical accounting policy. As of the date of implementation on January 1, 2019, the impact of the adoption of ASC 842 resulted in the recognition of a right of use asset and lease payable obligation on the Company’s Condensed Consolidated Balance Sheets of approximately $853.9 million , of which $604.4 million is attributable to leases with affiliates. As the right of use asset and the lease payable obligation were the same upon adoption of ASC 842, there was no cumulative effect impact on the Company’s retained earnings. See “Note 6 - Leases” for further details. In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” (“ASU 2017-12”). The amendments in ASU 2017-12 more closely align the results of cash flow and fair value hedge accounting with risk management activities in the consolidated financial statements. The amendments expand the ability to hedge nonfinancial and financial risk components, reduce complexity in fair value hedges of interest rate risk, eliminate the requirement to separately measure and report hedge ineffectiveness, and eases certain hedge effectiveness assessment requirements. The guidance in ASU 2017-12 was applied using a modified retrospective approach. The guidance in ASU 2017-12 also provided transition relief to make it easier for entities to apply certain amendments to existing hedges (including fair value hedges) where the hedge documentation needs to be modified. The presentation and disclosure requirements of ASU 2017-12 were applied prospectively. The Company adopted the amendments in this ASU effective January 1, 2019, which did not have a material impact on its Condensed Consolidated Financial Statements and related disclosures. In June 2018, the FASB issued ASU No. 2018-07, “Compensation - Stock Compensation (Topic 718): Targeted Improvements to Non-employee Share-Based Payment Accounting” (“ASU 2018-07”). ASU 2018-07 expands the scope of Topic 718, Compensation - Stock Compensation, to include share-based payment transactions for acquiring goods and services from non-employees. As a result, non-employee share-based transactions will be measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. In addition, ASU 2018-07 also clarifies that any share-based payment awards issued to customers should be evaluated under ASC 606, Revenue from Contracts with Customers (“ASC 606”). The Company adopted the amendments in this ASU effective January 1, 2019, which did not have a material impact on its Condensed Consolidated Financial Statements and related disclosures. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-14, “Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20)”, to improve the effectiveness of benefit plan disclosures in the notes to financial statements by facilitating clear communication of the information required by GAAP that is most important to users of each entity’s financial statements. The amendments in this ASU modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. Additionally, the amendments in this ASU remove disclosures that no longer are considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. The amendments in this ASU are effective for fiscal years ending after December 15, 2020, for public business entities and for fiscal years ending after December 15, 2021, for all other entities. Early adoption is permitted for all entities. The Company is currently evaluating the impact of this new standard on its consolidated financial statements and related disclosures.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following: March 31, 2019 (in millions) Titled Inventory Inventory Intermediation Agreements Total Crude oil and feedstocks $ 1,156.2 $ 69.9 $ 1,226.1 Refined products and blendstocks 1,067.1 308.0 1,375.1 Warehouse stock and other 109.4 — 109.4 $ 2,332.7 $ 377.9 $ 2,710.6 Lower of cost or market adjustment (76.8 ) (69.0 ) (145.8 ) Total inventories $ 2,255.9 $ 308.9 $ 2,564.8 December 31, 2018 (in millions) Titled Inventory Inventory Intermediation Agreements Total Crude oil and feedstocks $ 1,044.8 $ — $ 1,044.8 Refined products and blendstocks 1,026.9 334.8 1,361.7 Warehouse stock and other 109.4 — 109.4 $ 2,181.1 $ 334.8 $ 2,515.9 Lower of cost or market adjustment (557.2 ) (94.6 ) (651.8 ) Total inventories $ 1,623.9 $ 240.2 $ 1,864.1 Inventory under inventory intermediation agreements includes crude oil and certain light finished products sold to counterparties in connection with the amended and restated inventory intermediation agreements (as amended, in the first quarter of 2019, the “Inventory Intermediation Agreements”) with J. Aron & Company, a subsidiary of The Goldman Sachs Group, Inc. (“J. Aron”). This inventory is held in the Company’s storage tanks at the Delaware City and Paulsboro refineries and at PBFX’s East Coast Storage Assets (the “PBFX East Coast Storage Facility”, and together with the Company’s storage tanks at the Delaware City and Paulsboro refineries, the “Storage Tanks”). During the three months ended March 31, 2019 , the Company recorded an adjustment to value its inventories to the lower of cost or market which increased operating income by $506.0 million , reflecting the net change in the lower of cost or market (“LCM”) inventory reserve from $651.8 million at December 31, 2018 to $145.8 million at March 31, 2019 . During the three months ended March 31, 2018 , the Company recorded an adjustment to value its inventories to the lower of cost or market which increased operating income by $87.7 million , reflecting the net change in the LCM reserve from $300.5 million at December 31, 2017 to $212.8 million at March 31, 2018 .

ACCRUED EXPENSES

ACCRUED EXPENSES	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses consisted of the following: (in millions) March 31, December 31, Inventory-related accruals $ 1,124.3 $ 846.3 Inventory intermediation agreements 294.6 249.4 Excise and sales tax payable 129.3 149.4 Accrued capital expenditures 66.7 59.9 Accrued transportation costs 62.3 53.6 Accrued utilities 40.0 49.8 Accrued interest 28.8 6.8 Renewable energy credit and emissions obligations 24.3 27.1 Accrued salaries and benefits 15.4 89.3 Environmental liabilities 8.8 6.5 Accrued refinery maintenance and support costs 8.3 19.0 Customer deposits 0.7 5.6 Other 40.2 16.3 Total accrued expenses $ 1,843.7 $ 1,579.0 The Company has the obligation to repurchase certain crude oil, intermediate and finished products (the “Products”) that are held in the Company’s Storage Tanks in accordance with the Inventory Intermediation Agreements with J. Aron. As of March 31, 2019 and December 31, 2018 , a liability is recognized for the Inventory Intermediation Agreements and is recorded at market price for the J. Aron owned inventory held in the Company’s Storage Tanks under the Inventory Intermediation Agreements, with any change in the market price being recorded in Cost of products and other. The Company is subject to obligations to purchase Renewable Identification Numbers (“RINs”) required to comply with the Renewable Fuels Standard. The Company’s overall RINs obligation is based on a percentage of domestic shipments of on-road fuels as established by Environmental Protection Agency (“EPA”). To the degree the Company is unable to blend the required amount of biofuels to satisfy its RINs obligation, RINs must be purchased on the open market to avoid penalties and fines. The Company records its RINs obligation on a net basis in Accrued expenses when its RINs liability is greater than the amount of RINs earned and purchased in a given period and in Prepaid and other current assets when the amount of RINs earned and purchased is greater than the RINs liability. In addition, the Company is subject to obligations to comply with federal and state legislative and regulatory measures, including regulations in the state of California pursuant to Assembly Bill 32 (“AB32”), to address environmental compliance and greenhouse gas and other emissions. These requirements include incremental costs to operate and maintain our facilities as well as to implement and manage new emission controls and programs. Renewable energy credit and emissions obligations fluctuate with the volume of applicable product sales and timing of credit purchases.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Transactions and Agreements with PBFX The Company entered into agreements with PBFX that establish fees for certain general and administrative services, and operational and maintenance services provided by the Company to PBFX. In addition, the Company executed terminal, pipeline and storage services agreements with PBFX under which PBFX provides commercial transportation, terminaling, storage and pipeline services to the Company. These agreements with PBFX include: Contribution Agreements Immediately prior to the closing of certain contribution agreements, which PBF LLC entered into with PBFX (collectively referred to as the “Contribution Agreements”), the Company contributed certain assets to PBF LLC. PBF LLC in turn contributed those assets to PBFX pursuant to the Contribution Agreements. Certain proceeds received by PBF LLC from PBFX in accordance with the Contribution Agreements were subsequently contributed by PBF LLC to the Company. Refer to the Company’s 2018 Annual Report on Form 10-K (Note 10 - Related Party Transactions) for a more complete description of the Contribution Agreements with PBFX that were entered into prior to 2019. Commercial Agreements PBFX currently derives a substantial majority of its revenue from long-term, fee-based commercial agreements with the Company relating to assets associated with the Contribution Agreements, the majority of which include minimum volume commitments (“MVCs”) and are supported by contractual fee escalations for inflation adjustments and certain increases in operating costs. Under these agreements, PBFX provides various pipeline, rail and truck terminaling and storage services to the Company and the Company has committed, under certain of these agreements, to provide PBFX with minimum fees based on minimum monthly throughput volumes. The Company believes the terms and conditions under these agreements, as well as the Omnibus Agreement (as defined below) and the Services Agreement (as defined below) each with PBFX, are generally no less favorable to either party than those that could have been negotiated with unaffiliated parties with respect to similar services. Refer to the Company’s 2018 Annual Report on Form 10-K (Note 10 - Related Party Transactions) for a more complete description of the Company’s commercial agreements with PBFX, including those identified as leases, that were entered into prior to 2019. The following are commercial agreements entered into between the Company and PBFX during 2019: Agreements Initiation Date Initial Term Renewals (a) MVC Force Majeure Amended and Restated Rail Agreements (b) 5/8/2014 7 years, 8 months N/A 125,000 barrels per day (“bpd”) PBF Holding or PBFX can declare Delaware Pipeline Services Agreement- Magellan Connection 11/1/2016 2 years, 5 months See note (c) N/A Delaware City Terminaling Services Agreement (d) 1/1/2022 4 years 2 x 5 95,000 bpd East Coast Storage Assets Terminal Storage Agreement 1/1/2019 8 years Evergreen 2,953,725 barrels (e) ___________________ (a) The Company has the option to extend the agreements for up to two additional five -year terms, as applicable. (b) In 2019, the Company amended (effective as of January 1, 2019) the existing Amended and Restated Rail Agreements between the Company and Delaware City Terminaling Company LLC (“DCTC”), a wholly-owned subsidiary of PBFX, for the inclusion of services through certain rail infrastructure at the PBFX East Coast Storage Facility. (c) In connection with the inclusion of an additional destination at the Magellan connection under the Delaware Pipeline Services Agreement, Delaware Pipeline Company LLC (“DPC”), a wholly-owned subsidiary of PBFX, and the Company (the “Delaware Pipeline Services Agreement”) agreed to a two-year, five-month MVC (the “Magellan MVC”) under the Delaware Pipeline Services Agreement. The Magellan MVC expired on March 31, 2019. (d) The Delaware City Terminaling Services Agreement between DCTC and the Company will commence in 2022 subsequent to the expiration of the Amended and Restated Rail Agreements and includes additional services to be provided by PBFX as operator of other rail facilities owned by the Company’s subsidiaries. (e) Reflects the overall capacity as stipulated by the storage agreement. The storage MVC is subject to the effective operating capacity of each tank, which can be impacted by routine tank maintenance and other factors. Other Agreements In addition to the commercial agreements described above, the Company has entered into an omnibus agreement with PBFX, PBF GP and PBF LLC, which has been amended and restated in connection with certain Contribution Agreements (as amended, the “Omnibus Agreement”). This agreement addresses the payment of an annual fee for the provision of various general and administrative services and reimbursement of salary and benefit costs for certain PBF Energy employees. Additionally, the Company and certain of its subsidiaries have entered into an operation and management services and secondment agreement with PBFX (as amended, the “Services Agreement”), pursuant to which the Company and its subsidiaries provide PBFX with the personnel necessary for PBFX to perform its obligations under its commercial agreements. PBFX reimburses the Company for the use of such employees and the provision of certain infrastructure-related services to the extent applicable to its operations, including storm water discharge and waste water treatment, steam, potable water, access to certain roads and grounds, sanitary sewer access, electrical power, emergency response, filter press, fuel gas, API solids treatment, fire water and compressed air. The Services Agreement will terminate upon the termination of the Omnibus Agreement, provided that PBFX may terminate any service upon 30-days’ notice. Summary of Transactions with PBFX A summary of transactions with PBFX is as follows: Three Months Ended March 31, (in millions) 2019 2018 Reimbursements under affiliate agreements: Services Agreement $ 2.1 $ 1.7 Omnibus Agreement 1.8 1.7 Total expenses under affiliate agreements 71.3 60.9 Total reimbursements under the Omnibus Agreement are included in General and administrative expenses and reimbursements under the Services Agreement and expenses under affiliate agreements are included in Cost of products and other in the Company’s Condensed Consolidated Statements of Operations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Environmental Matters The Company’s refineries, pipelines and related operations are subject to extensive and frequently changing federal, state and local laws and regulations, including, but not limited to, those relating to the discharge of materials into the environment or that otherwise relate to the protection of the environment, waste management and the characteristics and the compositions of fuels. Compliance with existing and anticipated laws and regulations can increase the overall cost of operating the refineries, including remediation, operating costs and capital costs to construct, maintain and upgrade equipment and facilities. In connection with the Paulsboro refinery acquisition, the Company assumed certain environmental remediation obligations. The Paulsboro environmental liability of $11.7 million recorded as of March 31, 2019 ( $11.0 million as of December 31, 2018 ) represents the present value of expected future costs discounted at a rate of 8.0% . The current portion of the environmental liability is recorded in Accrued expenses and the non-current portion is recorded in Other long-term liabilities. As of March 31, 2019 , a portion of this liability is self-guaranteed by the Company with the remainder being guaranteed through an irrevocable standby letter of credit issued by BNP Paribas. In connection with the acquisition of the Delaware City assets, Valero Energy Corporation (“Valero”) remains responsible for certain pre-acquisition environmental obligations up to $20.0 million and the predecessor to Valero in ownership of the refinery retains other historical obligations. In connection with the acquisition of the Delaware City assets and the Paulsboro refinery, the Company and Valero purchased ten year, $75.0 million environmental insurance policies to insure against unknown environmental liabilities at each site. In connection with the Toledo refinery acquisition, Sunoco, Inc. (R&M) remains responsible for environmental remediation for conditions that existed on the closing date for twenty years from March 1, 2011, subject to certain limitations. In connection with the acquisition of the Chalmette refinery, the Company obtained $3.9 million in financial assurance (in the form of a surety bond) to cover estimated potential site remediation costs associated with an agreed to Administrative Order of Consent with EPA. The estimated cost assumes remedial activities will continue for a minimum of thirty years. Further, in connection with the acquisition of the Chalmette refinery, the Company purchased a ten year, $100.0 million environmental insurance policy to insure against unknown environmental liabilities at the refinery. On December 28, 2016, DNREC issued a Coastal Zone Act permit (the “Ethanol Permit”) to DCR allowing the utilization of existing tanks and existing marine loading equipment at their existing facilities to enable denatured ethanol to be loaded from storage tanks to marine vessels and shipped to offsite facilities. On January 13, 2017, the issuance of the Ethanol Permit was appealed by two environmental groups. On February 27, 2017, the Coastal Zone Industrial Board (the “Coastal Zone Board”) held a public hearing and dismissed the appeal, determining that the appellants did not have standing. The appellants filed an appeal of the Coastal Zone Board’s decision with the Delaware Superior Court (the “Superior Court”) on March 30, 2017. On January 19, 2018, the Superior Court rendered an Opinion regarding the decision of the Coastal Zone Board to dismiss the appeal of the Ethanol Permit for the ethanol project. The Judge determined that the record created by the Coastal Zone Board was insufficient for the Superior Court to make a decision, and therefore remanded the case back to the Coastal Zone Board to address the deficiency in the record. Specifically, the Superior Court directed the Coastal Zone Board to address any evidence concerning whether the appellants’ claimed injuries would be affected by the increased quantity of ethanol shipments. On remand, the Coastal Zone Board met on January 28, 2019 and reversed its previous decision on standing, ruling that the appellants have standing to appeal the issuance of the Ethanol Permit. DCR is currently evaluating its appeal options. At the time the Company acquired the Toledo refinery, EPA had initiated an investigation into the compliance of the refinery with EPA standards governing flaring pursuant to Section 114 of the Clean Air Act. On February 1, 2013, EPA issued an Amended Notice of Violation, and on September 20, 2013, EPA issued a Notice of Violation and Finding of Violation to Toledo refinery, alleging certain violations of the Clean Air Act at its Plant 4 and Plant 9 flares since the acquisition of the refinery on March 1, 2011. Toledo refinery and EPA subsequently entered into tolling agreements pending settlement discussions. A tentative settlement has been reached, including flare emission reduction and controls, enhancements to the existing leak detection and repair program, closure of an existing Consent Decree, implementation of supplemental environmental projects, and payment of a civil penalty in the amount of $0.4 million . On February 5, 2019, a Notice of Lodging of the Consent Decree was published in the Federal Register, starting a 30-day public comment period. On March 7, 2019 the Environmental Law & Policy Center and the Environmental Advocacy Clinic at Northwestern Law School filed adverse comments to the Consent Decree. TRC is currently waiting on EPA to respond to these comments. In connection with the acquisition of the Torrance refinery and related logistics assets, the Company assumed certain pre-existing environmental liabilities totaling $129.2 million as of March 31, 2019 ( $130.8 million as of December 31, 2018 ), related to certain environmental remediation obligations to address existing soil and groundwater contamination and monitoring activities and other clean-up activities, which reflects the current estimated cost of the remediation obligations. The current portion of the environmental liability is recorded in Accrued expenses and the non-current portion is recorded in Other long-term liabilities. In addition, in connection with the acquisition of the Torrance refinery and related logistics assets, the Company purchased a ten year, $100.0 million environmental insurance policy to insure against unknown environmental liabilities. Furthermore, in connection with the acquisition, the Company assumed responsibility for certain specified environmental matters that occurred prior to the Company’s ownership of the refinery and the logistics assets, including specified incidents and/or notices of violations (“NOVs”) issued by regulatory agencies in various years before the Company’s ownership, including the Southern California Air Quality Management District (“SCAQMD”) and the Division of Occupational Safety and Health of the State of California (“Cal/OSHA”). In connection with the acquisition of the Torrance refinery and related logistics assets, the Company agreed to take responsibility for NOV No. P63405 that ExxonMobil had received from the SCAQMD for Title V deviations that are alleged to have occurred in 2015. On August 14, 2018, the Company received a letter from SCAQMD offering to settle this NOV for $0.5 million . On February 22, 2019, the SCAQMD reduced their settlement offer to $0.3 million . The Company is currently in communication with SCAQMD to resolve this NOV. Subsequent to the acquisition, further NOVs were issued by the SCAQMD, Cal/OSHA, the City of Torrance, the City of Torrance Fire Department, and the Los Angeles County Sanitation District related to alleged operational violations, emission discharges and/or flaring incidents at the refinery and the logistics assets both before and after the Company’s acquisition. EPA in November 2016 conducted a Risk Management Plan (“RMP”) inspection following the acquisition related to Torrance operations and issued preliminary findings in March 2017 concerning RMP potential operational violations. Since the EPA’s issuance of the preliminary findings in March 2017, the Company has been in substantive discussions to resolve the preliminary findings. In the course of these discussions, on November 8, 2018, EPA made an offer to settle all preliminary findings for $0.5 million . The Company is currently in communication with EPA to resolve the RMP preliminary findings. EPA and the California Department of Toxic Substances Control (“DTSC”) in December 2016 conducted a Resource Conservation and Recovery Act (“RCRA”) inspection following the acquisition related to Torrance operations and also issued in March 2017 preliminary findings concerning RCRA potential operational violations. On June 14, 2018, the Torrance refinery and DTSC reached settlement regarding the oil bearing materials in the form of a stipulation and order, wherein the Torrance refinery agreed that it would recycle or properly dispose of the oil bearing materials by the end of 2018 and pay an administrative penalty of $0.2 million . The Torrance refinery has complied with these requirements. Following this settlement, in June 2018, DTSC referred the remaining alleged RCRA violations from EPA’s and DTSC’s December 2016 inspection to the California Attorney General for final resolution. The Torrance refinery and the California Attorney General are in discussions to resolve these remaining alleged RCRA violations. Other than the $0.2 million DTSC administrative penalty, no other settlement or penalty demands have been received to date with respect to any of the other NOVs, preliminary findings, or order that are in excess of $0.1 million . As the ultimate outcomes are uncertain, the Company cannot currently estimate the final amount or timing of their resolution but any such amount is not expected to have a material impact on the Company’s financial position, results of operations or cash flows, individually or in the aggregate. Applicable Federal and State Regulatory Requirements The Company’s operations and many of the products it manufactures are subject to certain specific requirements of the Clean Air Act (the “CAA”) and related state and local regulations. The CAA contains provisions that require capital expenditures for the installation of certain air pollution control devices at the Company’s refineries. Subsequent rule making authorized by the CAA or similar laws or new agency interpretations of existing rules, may necessitate additional expenditures in future years. In 2010, New York State adopted a Low-Sulfur Heating Oil mandate that, beginning July 1, 2012, requires all heating oil sold in New York State to contain no more than 15 parts per million (“PPM”) sulfur. Since July 1, 2012, other states in the Northeast market began requiring heating oil sold in their state to contain no more than 15 PPM sulfur. Currently, all of the Northeastern states and Washington DC have adopted sulfur controls on heating oil. As of July 1, 2018 most of the Northeastern states require heating oil with 15 PPM or less sulfur (except for Pennsylvania and Maryland - where less than 500 PPM sulfur is required). All of the heating oil the Company currently produces meets these specifications. The mandate and other requirements do not currently have a material impact on the Company’s financial position, results of operations or cash flows. EPA issued the final Tier 3 Gasoline standards on March 3, 2014 under the CAA. This final rule establishes more stringent vehicle emission standards and further reduces the sulfur content of gasoline starting in January 2017. The new standard is set at 10 PPM sulfur in gasoline on an annual average basis starting January 1, 2017, with a credit trading program to provide compliance flexibility. EPA responded to industry comments on the proposed rule and maintained the per gallon sulfur cap on gasoline at the existing 80 PPM cap. The refineries are complying with these new requirements as planned, either directly or using flexibility provided by sulfur credits generated or purchased in advance as an economic optimization. The standards set by the new rule are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. The Company is required to comply with the Renewable Fuel Standard (“RFS”) implemented by EPA, which sets annual quotas for the quantity of renewable fuels (such as ethanol) that must be blended into motor fuels consumed in the United States. In July 2018, EPA issued proposed amendments to the RFS program regulations that would establish annual percentage standards for cellulosic biofuel, biomass-based diesel, advanced biofuel, and renewable fuels that would apply to all gasoline and diesel produced in the U.S. or imported in the year 2019. In addition, the separate proposal includes a proposed biomass-based diesel applicable volume for 2020. It is likely that RIN production will continue to be lower than needed forcing obligated parties, such as the Company, to purchase cellulosic waiver credits or purchase excess RINs from suppliers on the open market. In addition, on November 26, 2018 EPA finalized revisions to an existing air regulation concerning Maximum Achievable Control Technologies (“MACT”) for Petroleum Refineries. The regulation requires additional continuous monitoring systems for eligible process safety valves relieving to atmosphere, minimum flare gas heat (Btu) content, and delayed coke drum vent controls to be installed by January 30, 2019. In addition, a program for ambient fence line monitoring for benzene was implemented prior to the deadline of January 30, 2018. The Company is in the process of implementing the requirements of this regulation. The regulation does not have a material impact on the Company’s financial position, results of operations or cash flows. EPA published a Final Rule to the Clean Water Act (“CWA”) Section 316(b) in August 2014 regarding cooling water intake structures, which includes requirements for petroleum refineries. The purpose of this rule is to prevent fish from being trapped against cooling water intake screens (impingement) and to prevent fish from being drawn through cooling water systems (entrainment). Facilities will be required to implement Best Technology Available (“BTA”) as soon as possible, but state agencies have the discretion to establish implementation time lines. The Company continues to evaluate the impact of this regulation, and at this time does not anticipate it having a material impact on the Company’s financial position, results of operations or cash flows. As a result of the Torrance Acquisition, the Company is subject to greenhouse gas emission control regulations in the state of California pursuant to AB32. AB32 imposes a statewide cap on greenhouse gas emissions, including emissions from transportation fuels, with the aim of returning the state to 1990 emission levels by 2020. AB32 is implemented through two market mechanisms including the Low Carbon Fuel Standard (“LCFS”) and Cap and Trade, which was extended for an additional ten years to 2030 in July 2017. The Company is responsible for the AB32 obligations related to the Torrance refinery beginning on July 1, 2016 and must purchase emission credits to comply with these obligations. Additionally, in September 2016, the state of California enacted Senate Bill 32 (“SB32”) which further reduces greenhouse gas emissions targets to 40 percent below 1990 levels by 2030. However, subsequent to the acquisition, the Company is recovering the majority of these costs from its customers, and as such does not expect this obligation to materially impact the Company’s financial position, results of operations, or cash flows. To the degree there are unfavorable changes to AB32 or SB32 regulations or the Company is unable to recover such compliance costs from customers, these regulations could have a material adverse effect on our financial position, results of operations and cash flows. The Company is subject to obligations to purchase RINs. On February 15, 2017, the Company received a notification that EPA records indicated that PBF Holding used potentially invalid RINs that were in fact verified under EPA’s RIN Quality Assurance Program (“QAP”) by an independent auditor as QAP A RINs. Under the regulations, use of potentially invalid QAP A RINs provided the user with an affirmative defense from civil penalties provided certain conditions are met. The Company has asserted the affirmative defense and if accepted by EPA will not be required to replace these RINs and will not be subject to civil penalties under the program. It is reasonably possible that EPA will not accept the Company’s defense and may assess penalties in these matters but any such amount is not expected to have a material impact on the Company’s financial position, results of operations or cash flows. As of January 1, 2011, the Company is required to comply with EPA’s Control of Hazardous Air Pollutants From Mobile Sources, or MSAT2, regulations on gasoline that impose reductions in the benzene content of its produced gasoline. The Company purchases benzene credits to meet these requirements. The Company’s planned capital projects will reduce the amount of benzene credits that it needs to purchase. In addition, the renewable fuel standards mandate the blending of prescribed percentages of renewable fuels (e.g., ethanol and biofuels) into the Company’s produced gasoline and diesel. These new requirements, other requirements of the CAA and other presently existing or future environmental regulations may cause the Company to make substantial capital expenditures as well as the purchase of credits at significant cost, to enable its refineries to produce products that meet applicable requirements. The federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 (“CERCLA”), also known as “Superfund,” imposes liability, without regard to fault or the legality of the original conduct, on certain classes of persons who are considered to be responsible for the release of a “hazardous substance” into the environment. These persons include the current or former owner or operator of the disposal site or sites where the release occurred and companies that disposed of or arranged for the disposal of the hazardous substances. Under CERCLA, such persons may be subject to joint and several liability for investigation and the costs of cleaning up the hazardous substances that have been released into the environment, for damages to natural resources and for the costs of certain health studies. As discussed more fully above, certain of the Company’s sites are subject to these laws and the Company may be held liable for investigation and remediation costs or claims for natural resource damages. It is not uncommon for neighboring landowners and other third parties to file claims for personal injury and property damage allegedly caused by hazardous substances or other pollutants released into the environment. Analogous state laws impose similar responsibilities and liabilities on responsible parties. In the Company’s current normal operations, it has generated waste, some of which falls within the statutory definition of a “hazardous substance” and some of which may have been disposed of at sites that may require cleanup under Superfund. The Company is also currently subject to certain other existing environmental claims and proceedings. The Company believes that there is only a remote possibility that future costs related to any of these other known contingent liability exposures would have a material impact on its financial position, results of operations or cash flows. PBF LLC Limited Liability Company Agreement The holders of limited liability company interests in PBF LLC, including PBF Energy, generally have to include for purposes of calculating their U.S. federal, state and local income taxes their share of any taxable income of PBF LLC, regardless of whether such holders receive cash distributions from PBF LLC. PBF Energy ultimately may not receive cash distributions from PBF LLC equal to its share of such taxable income or even equal to the actual tax due with respect to that income. For example, PBF LLC is required to include in taxable income PBF LLC’s allocable share of PBFX’s taxable income and gains (such share to be determined pursuant to the partnership agreement of PBFX), regardless of the amount of cash distributions received by PBF LLC from PBFX, and such taxable income and gains will flow-through to PBF Energy to the extent of its allocable share of the taxable income of PBF LLC. As a result, at certain times, the amount of cash otherwise ultimately available to PBF Energy on account of its indirect interest in PBFX may not be sufficient for PBF Energy to pay the amount of taxes it will owe on account of its indirect interests in PBFX. Taxable income of PBF LLC generally is allocated to the holders of PBF LLC units (including PBF Energy) pro-rata in accordance with their respective share of the net profits and net losses of PBF LLC. In general, PBF LLC is required to make periodic tax distributions to the members of PBF LLC, including PBF Energy, pro-rata in accordance with their respective percentage interests for such period (as determined under the amended and restated limited liability company agreement of PBF LLC), subject to available cash and applicable law and contractual restrictions (including pursuant to our debt instruments) and based on certain assumptions. Generally, these tax distributions are required to be in an amount equal to our estimate of the taxable income of PBF LLC for the year multiplied by an assumed tax rate equal to the highest effective marginal combined U.S. federal, state and local income tax rate prescribed for an individual or corporate resident in New York, New York (taking into account the nondeductibility of certain expenses). If, with respect to any given calendar year, the aggregate periodic tax distributions were less than the actual taxable income of PBF LLC multiplied by the assumed tax rate, PBF LLC is required to make a “true up” tax distribution, no later than March 15th of the following year, equal to such difference, subject to the available cash and borrowings of PBF LLC. PBF LLC generally obtains funding to pay its tax distributions by causing PBF Holding to distribute cash to PBF LLC and from distributions it receives from PBFX. Tax Receivable Agreement PBF Energy (the Company’s indirect parent) entered into a tax receivable agreement with the PBF LLC Series A and PBF LLC Series B unitholders (the “Tax Receivable Agreement”) that provides for the payment by PBF Energy to such persons of an amount equal to 85% of the amount of the benefits, if any, that PBF Energy is deemed to realize as a result of (i) increases in tax basis, as described below, and (ii) certain other tax benefits related to entering into the Tax Receivable Agreement, including tax benefits attributable to payments under the Tax Receivable Agreement. For purposes of the Tax Receivable Agreement, the benefits deemed realized by PBF Energy will be computed by comparing the actual income tax liability of PBF Energy (calculated with certain assumptions) to the amount of such taxes that PBF Energy would have been required to pay had there been no increase to the tax basis of the assets of PBF LLC as a result of purchases or exchanges of PBF LLC Series A Units for shares of PBF Energy Class A common stock and had PBF Energy not entered into the Tax Receivable Agreement. The term of the Tax Receivable Agreement will continue until all such tax benefits have been utilized or expired unless: (i) PBF Energy exercises its right to terminate the Tax Receivable Agreement, (ii) PBF Energy breaches any of its material obligations under the Tax Receivable Agreement or (iii) certain changes of control occur, in which case all obligations under the Tax Receivable Agreement will generally be accelerated and due as calculated under certain assumptions. The payment obligations under the Tax Receivable Agreement are obligations of PBF Energy and not of PBF LLC or PBF Holding. In general, PBF Energy expects to obtain funding for these annual payments from PBF LLC, primarily through tax distributions, which PBF LLC makes on a pro-rata basis to its owners. Such owners include PBF Energy, which holds a 99.0% interest in PBF LLC as of March 31, 2019 ( 99.0% as of December 31, 2018 ). PBF LLC generally obtains funding to pay its tax distributions by causing PBF Holding to distribute cash to PBF LLC and from distributions it receives from PBFX.

LEASES (Notes)

LEASES (Notes)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	LEASES The Company leases office space, office equipment, refinery facilities and equipment, and railcars under non-cancelable operating leases, with terms typically ranging from one to twenty years, subject to certain renewal options as applicable. The Company considers those renewal or termination options that are reasonably certain to be exercised in the determination of the lease term and initial measurement of lease liabilities and right-of-use assets. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company determines whether a contract is or contains a lease at inception of the contract and whether the lease meets the classification criteria of a finance or operating lease. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company must discount lease payments based on an estimate of its incremental borrowing rate. The Company does not separate lease and nonlease components of contracts. There are no material residual value guarantees associated with any of the Company’s leases. There are no significant restrictions or covenants included in the Company’s lease agreements other than those that are customary in such arrangements. Certain of the Company’s leases, primarily for the Company’s commercial, logistics asset classes, include provisions for variable payments. These variable payments are typically determined based on a measure of throughput or actual days the asset is operated during the contract term or another measure of usage and are not included in the initial measurement of lease liabilities and right-of-use assets. Lease Position as of March 31, 2019 The table below presents the lease related assets and liabilities recorded on the Company’s Condensed Consolidated Balance Sheets as of March 31, 2019 : (in millions) Classification on the Balance Sheet March 31, 2019 Assets Operating lease assets - third party Operating lease right of use assets - third party $ 245.1 Operating lease assets - affiliate Operating lease right of use assets - affiliate 655.6 Total lease assets $ 900.7 Liabilities Current liabilities: Operating lease liabilities - third party Current operating lease liabilities - third party $ 80.9 Operating lease liabilities - affiliate Current operating lease liabilities - affiliate 73.3 Noncurrent liabilities: Operating lease liabilities - third party Long-term operating lease liabilities - third party 164.7 Operating lease liabilities - affiliate Long-term operating lease liabilities - affiliate 582.3 Total lease liabilities $ 901.2 Lease Costs The table below presents certain information related to lease costs associated with the Company’s operating leases for the three months ended March 31, 2019 : Three Months Ended March 31, Lease Costs (in millions) 2019 Components of total lease cost: Operating lease cost $ 53.3 Short-term lease cost 23.3 Variable lease cost 10.1 Total lease cost $ 86.7 There were no net gains or losses on any sale-leaseback transactions for the three months ended March 31, 2019 . Other Information The table below presents supplemental cash flow information related to leases for the three months ended March 31, 2019 : Three Months Ended March 31, (in millions) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 35.4 Supplemental non-cash amounts of lease liabilities arising from obtaining right-of-use assets 82.7 Lease Term and Discount Rate The table below presents certain information related to the weighted average remaining lease term and weighted average discount rate for the Company’s operating leases as of March 31, 2019 : March 31, 2019 Weighted average remaining lease term - operating leases 7.1 years Weighted average discount rate - operating leases 8.33 % Undiscounted Cash Flows The table below reconciles the fixed component of the undiscounted cash flows for each of the first five years and the total remaining years to the operating lease liabilities recorded on the Condensed Consolidated Balance Sheets as of March 31, 2019 : Amounts due within twelve months of March 31, (in millions) Operating Leases 2019 $ 218.7 2020 193.0 2021 155.2 2022 142.6 2023 135.9 Thereafter 369.8 Total minimum lease payments 1,215.2 Less: effect of discounting 314.0 Present value of future minimum lease payments 901.2 Less: current obligations under leases 154.2 Long-term lease obligations $ 747.0 As of March 31, 2019 , the Company has entered into an additional third party lease for hydrogen supply, with future lease payments expected to total approximately $212.6 million . The lease is expected to commence in the second quarter of 2020 with a term of 15 years. There are no material lease arrangements where the Company is the lessor. In the normal course of business, the Company enters into certain affiliate lease arrangements with PBFX for the use of certain storage, terminaling and pipeline assets. The Company believes the terms and conditions under these leases are generally no less favorable to either party than those that could have been negotiated with unaffiliated parties with respect to similar services. The terms for these affiliate leases generally range from seven to fifteen years. The Company uses the same methodology for discounting the lease payments on affiliate leases as it does for third party leases as described above. For the three months ended March 31, 2019 , the Company incurred operating lease costs, related to affiliate operating leases, of $27.1 million . As of March 31, 2019 , the Company had recorded right-of-use assets, short-term lease obligations and long-term lease obligations of $655.6 million , $73.3 million and $582.3 million , respectively, associated with these affiliate leases.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Mar. 31, 2019
Defined Benefit Plan [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS The components of net periodic benefit cost related to the Company’s defined benefit plans consisted of the following: (in millions) Three Months Ended Pension Benefits 2019 2018 Components of net periodic benefit cost: Service cost $ 10.9 $ 11.8 Interest cost 2.1 1.4 Expected return on plan assets (2.4 ) (2.1 ) Amortization of prior service cost and actuarial loss 0.1 0.1 Net periodic benefit cost $ 10.7 $ 11.2 (in millions) Three Months Ended Post-Retirement Medical Plan 2019 2018 Components of net periodic benefit cost: Service cost $ 0.2 $ 0.3 Interest cost 0.2 0.1 Amortization of prior service cost 0.1 0.2 Net periodic benefit cost $ 0.5 $ 0.6

REVENUES (Notes)

REVENUES (Notes)	3 Months Ended
	Mar. 31, 2019
Revenues [Abstract]
Revenue from Contract with Customer [Text Block]	. REVENUES Revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The following table provides information relating to the Company’s revenues from external customers for each product or group of similar products for the periods presented: Three Months Ended (in millions) 2019 2018 Gasoline and distillates $ 4,433.0 $ 4,994.3 Asphalt and blackoils 353.0 308.9 Feedstocks and other 200.7 238.7 Chemicals 151.7 176.1 Lubricants 70.3 81.6 Total Revenues $ 5,208.7 $ 5,799.6 The Company’s revenues are generated from the sale of refined petroleum products. These revenues are largely based on the current spot (market) prices of the products sold, which represent consideration specifically allocable to the products being sold on a given day, and the Company recognizes those revenues upon delivery and transfer of title to the products to our customers. The time at which delivery and transfer of title occurs is the point when the Company’s control of the products is transferred to the Company’s customers and when its performance obligation to its customers is fulfilled. Delivery and transfer of title are specifically agreed to between the Company and customers within the contracts. The Company also has contracts which contain fixed pricing, tiered pricing, minimum volume features with makeup periods, or other factors that have not materially been affected by ASC 606. Deferred Revenues The Company records deferred revenues when cash payments are received or are due in advance of our performance, including amounts which are refundable. Deferred revenue was $63.6 million and $17.1 million as of March 31, 2019 and December 31, 2018 , respectively. Fluctuations in the deferred revenue balance are primarily driven by the timing and extent of cash payments received or due in advance of satisfying the Company’s performance obligations. The Company’s payment terms vary by type and location of customers and the products offered. The period between invoicing and when payment is due is not significant (i.e. generally within two months). For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES PBF Holding is a limited liability company treated as a “flow-through” entity for income tax purposes. Accordingly, there is generally no benefit or expense for federal or state income tax in the PBF Holding financial statements apart from the income tax attributable to two subsidiaries acquired in connection with the acquisition of Chalmette Refining and the Company’s wholly-owned Canadian subsidiary, PBF Energy Limited (“PBF Ltd.”), which are treated as C-Corporations for income tax purposes. The reported income tax benefit in the PBF Holding Condensed Consolidated Financial Statements of Operations consists of the following: Three Months Ended (in millions) 2019 2018 Current income tax expense $ — $ — Deferred income tax benefit (7.2 ) (0.7 ) Total income tax benefit $ (7.2 ) $ (0.7 )

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The tables below present information about the Company’s financial assets and liabilities measured and recorded at fair value on a recurring basis and indicate the fair value hierarchy of the inputs utilized to determine the fair values as of March 31, 2019 and December 31, 2018 . We have elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty; however, fair value amounts by hierarchy level are presented on a gross basis in the tables below. We have posted cash margin with various counterparties to support hedging and trading activities. The cash margin posted is required by counterparties as collateral deposits and cannot be offset against the fair value of open contracts except in the event of default. We have no derivative contracts that are subject to master netting arrangements that are reflected gross on the Condensed Consolidated Balance Sheets. As of March 31, 2019 Fair Value Hierarchy Total Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet (in millions) Level 1 Level 2 Level 3 Assets: Money market funds $ 2.9 $ — $ — $ 2.9 N/A $ 2.9 Commodity contracts 3.5 11.7 — 15.2 (5.3 ) 9.9 Derivatives included with inventory intermediation agreement obligations — 9.8 — 9.8 — 9.8 Liabilities: Commodity contracts 5.0 0.3 — 5.3 (5.3 ) — Catalyst lease obligations — 47.4 — 47.4 — 47.4 As of December 31, 2018 Fair Value Hierarchy Total Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet (in millions) Level 1 Level 2 Level 3 Assets: Money market funds $ 2.8 $ — $ — $ 2.8 N/A $ 2.8 Commodity contracts 1.2 8.9 — 10.1 (2.9 ) 7.2 Derivatives included with inventory intermediation agreement obligations — 24.1 — 24.1 — 24.1 Liabilities: Commodity contracts 2.7 0.2 — 2.9 (2.9 ) — Catalyst lease obligations — 44.3 — 44.3 — 44.3 The valuation methods used to measure financial instruments at fair value are as follows: • Money market funds categorized in Level 1 of the fair value hierarchy are measured at fair value based on quoted market prices and included within Cash and cash equivalents. • The commodity contracts categorized in Level 1 of the fair value hierarchy are measured at fair value based on quoted prices in an active market. The commodity contracts categorized in Level 2 of the fair value hierarchy are measured at fair value using a market approach based upon future commodity prices for similar instruments quoted in active markets. • The derivatives included with inventory intermediation agreement obligations and the catalyst lease obligations are categorized in Level 2 of the fair value hierarchy and are measured at fair value using a market approach based upon commodity prices for similar instruments quoted in active markets. Non-qualified pension plan assets are measured at fair value using a market approach based on published net asset values of mutual funds as a practical expedient. As of March 31, 2019 and December 31, 2018 , $9.8 million and $9.7 million , respectively, were included within Deferred charges and other assets, net for these non-qualified pension plan assets. There were no transfers between levels during the three months ended March 31, 2019 or 2018 . Fair value of debt The table below summarizes the fair value and carrying value of debt as of March 31, 2019 and December 31, 2018 . March 31, 2019 December 31, 2018 (in millions) Carrying value Fair value Carrying value Fair value 2025 Senior Notes (a) $ 725.0 $ 745.9 $ 725.0 $ 688.4 2023 Senior Notes (a) 500.0 515.6 500.0 479.4 Revolving Credit Facility (b) 250.0 250.0 — — PBF Rail Term Loan (b) 19.8 19.8 21.6 21.6 Catalyst leases (c) 47.4 47.4 44.3 44.3 1,542.2 1,578.7 1,290.9 1,233.7 Less - Current debt (c) (2.5 ) (2.5 ) (2.4 ) (2.4 ) Less - Unamortized deferred financing costs (29.0 ) n/a (30.5 ) n/a Long-term debt $ 1,510.7 $ 1,576.2 $ 1,258.0 $ 1,231.3 ____________________________ (a) The estimated fair value, categorized as a Level 2 measurement, was calculated based on the present value of future expected payments utilizing implied current market interest rates based on quoted prices of the 7.00% senior notes due 2023 and the 7.25% senior notes due 2025 (collectively, the “Senior Notes”). (b) The estimated fair value approximates carrying value, categorized as a Level 2 measurement, as these borrowings bear interest based upon short-term floating market interest rates. (c) Catalyst leases are valued using a market approach based upon commodity prices for similar instruments quoted in active markets and are categorized as a Level 2 measurement. The Company has elected the fair value option for accounting for its catalyst lease repurchase obligations as the Company’s liability is directly impacted by the change in fair value of the underlying catalyst. During 2018, Toledo Refining and Chalmette Refining entered into two platinum bridge leases which were settled in April 2019 and Delaware City Refining entered into a new platinum bridge lease, which will expire in the second quarter of 2019. These leases are payable at maturity and are not anticipated to be renewed. The total outstanding balance related to these bridge leases as of March 31, 2019 and December 31, 2018 was $2.5 million and $2.4 million , respectively, and is included in Current debt in the Company’s Condensed Consolidated Balance Sheets.

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The Company uses derivative instruments to mitigate certain exposures to commodity price risk. The Company entered into Inventory Intermediation Agreements that contain purchase obligations for certain volumes of crude oil, intermediates and refined products. The purchase obligations related to crude oil, intermediates and refined products under these agreements are derivative instruments that have been designated as fair value hedges in order to hedge the commodity price volatility of certain refinery inventory. The fair value of these purchase obligation derivatives is based on market prices of the underlying crude oil, intermediates and refined products. The level of activity for these derivatives is based on the level of operating inventories. As of March 31, 2019 , there were 754,419 barrels of crude oil and feedstocks ( no barrels at December 31, 2018 ) outstanding under these derivative instruments designated as fair value hedges. As of March 31, 2019 , there were 3,232,956 barrels of intermediates and refined products ( 3,350,166 barrels at December 31, 2018 ) outstanding under these derivative instruments designated as fair value hedges. These volumes represent the notional value of the contract. The Company also enters into economic hedges primarily consisting of commodity derivative contracts that are not designated as hedges and are used to manage price volatility in certain crude oil and feedstock inventories as well as crude oil, feedstock, and refined product sales or purchases. The objective in entering into economic hedges is consistent with the objectives discussed above for fair value hedges. As of March 31, 2019 , there were 6,558,000 barrels of crude oil and 4,904,000 barrels of refined products ( 5,801,000 and 1,609,000 , respectively, as of December 31, 2018 ), outstanding under short and long term commodity derivative contracts not designated as hedges representing the notional value of the contracts. The following tables provide information about the fair values of these derivative instruments as of March 31, 2019 and December 31, 2018 and the line items in the Condensed Consolidated Balance Sheets in which the fair values are reflected. Description Balance Sheet Location Fair Value Asset/(Liability) (in millions) Derivatives designated as hedging instruments: March 31, 2019: Derivatives included with the inventory intermediation agreement obligations Accrued expenses $ 9.8 December 31, 2018: Derivatives included with the inventory intermediation agreement obligations Accrued expenses $ 24.1 Derivatives not designated as hedging instruments: March 31, 2019: Commodity contracts Accounts receivable $ 9.9 December 31, 2018: Commodity contracts Accounts receivable $ 7.2 The following table provides information about the gains or losses recognized in income on these derivative instruments and the line items in the Condensed Consolidated Statements of Operations in which such gains and losses are reflected. Description Location of Gain or (Loss) Recognized in Income on Derivatives Gain or (Loss) Recognized in Income on Derivatives (in millions) Derivatives designated as hedging instruments: For the three months ended March 31, 2019: Derivatives included with the inventory intermediation agreement obligations Cost of products and other $ (14.2 ) For the three months ended March 31, 2018: Derivatives included with the inventory intermediation agreement obligations Cost of products and other $ (8.8 ) Derivatives not designated as hedging instruments: For the three months ended March 31, 2019: Commodity contracts Cost of products and other $ 31.7 For the three months ended March 31, 2018: Commodity contracts Cost of products and other $ (13.3 ) Hedged items designated in fair value hedges: For the three months ended March 31, 2019: Crude oil, intermediate and refined product inventory Cost of products and other $ 14.2 For the three months ended March 31, 2018: Intermediate and refined product inventory Cost of products and other $ 8.8 The Company had no ineffectiveness related to the fair value hedges for the three months ended March 31, 2019 or 2018 .

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Dividend Declared On May 1, 2019 , PBF Energy, PBF Holding’s indirect parent, announced a dividend of $0.30 per share on its outstanding Class A common stock. The dividend is payable on May 30, 2019 to PBF Energy Class A common stockholders of record at the close of business on May 15, 2019 . TVPC Acquisition On April 24, 2019, PBFX entered into a Contribution Agreement with PBF LLC, pursuant to which the Company will contribute to PBF LLC, which in turn, will contribute to PBFX all of the issued and outstanding limited liability interests of TVP Holding Company LLC (“TVP Holding”) for total consideration of $200.0 million (the “TVPC Acquisition”). Prior to the TVPC Acquisition, TVP Holding owned a 50% equity investment in TVPC. Subsequent to the completion of the transaction, which is expected to close in the second quarter of 2019, PBFX will own 100% of TVPC.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDINGS	3 Months Ended
	Mar. 31, 2019
Condensed Financial Information of Subsidiary Disclosure [Abstract]
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDINGS	13. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING PBF Services Company, Delaware City Refining Company LLC, PBF Power Marketing LLC, Paulsboro Refining Company LLC, Toledo Refining Company LLC, Chalmette Refining, L.L.C., PBF Energy Western Region LLC, Torrance Refining Company LLC, Torrance Logistics Company LLC, PBF International Inc. and PBF Investments LLC are 100% owned subsidiaries of PBF Holding and serve as guarantors of the obligations under the Senior Notes. These guarantees are full and unconditional and joint and several. For purposes of the following footnote, PBF Holding is referred to as “Issuer”. The indentures dated November 24, 2015 and May 30, 2017, among PBF Holding, PBF Finance, the guarantors party thereto and Wilmington Trust, National Association, governs subsidiaries designated as “Guarantor Subsidiaries”. PBF Energy Limited, PBF Transportation Company LLC, PBF Rail Logistics Company LLC, MOEM Pipeline LLC, Collins Pipeline Company, T&M Terminal Company, TVP Holding, Torrance Basin Pipeline Company LLC and Torrance Pipeline Company LLC are consolidated subsidiaries of the Company that are not guarantors of the Senior Notes. Additionally, our 50% equity investment in Torrance Valley Pipeline Company, held by TVP Holding is included in our Non-Guarantor financial position and results of operations and cash flows as TVP Holding is not a guarantor of the Senior Notes. The Senior Notes were co-issued by PBF Finance. For purposes of the following footnote, PBF Finance is referred to as “Co-Issuer.” The Co-Issuer has no independent assets or operations. The following supplemental combining and condensed consolidating financial information reflects the Issuer’s separate accounts, the combined accounts of the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries, the combining and consolidating adjustments and eliminations and the Issuer’s consolidated accounts for the dates and periods indicated. For purposes of the following combining and consolidating information, the Issuer’s investment in its subsidiaries and the Guarantor subsidiaries’ investments in their subsidiaries are accounted for under the equity method of accounting. CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED, IN MILLIONS) March 31, 2019 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total ASSETS Current assets: Cash and cash equivalents $ 342.1 $ 12.8 $ 29.7 $ — $ 384.6 Accounts receivable 838.5 7.0 17.9 — 863.4 Accounts receivable - affiliate 1.4 2.6 0.7 — 4.7 Inventories 2,368.6 — 196.2 — 2,564.8 Prepaid and other current assets 63.5 57.2 1.7 — 122.4 Due from related parties 35,050.5 25,514.7 10,076.4 (70,641.6 ) — Total current assets 38,664.6 25,594.3 10,322.6 (70,641.6 ) 3,939.9 Property, plant and equipment, net 16.8 2,767.5 230.0 — 3,014.3 Investment in subsidiaries — 397.0 — (397.0 ) — Investment in equity method investee — — 167.7 — 167.7 Operating lease right of use assets - third party 181.1 64.0 — — 245.1 Operating lease right of use assets - affiliate 589.9 65.7 — — 655.6 Deferred charges and other assets, net 13.4 984.8 — — 998.2 Total assets $ 39,465.8 $ 29,873.3 $ 10,720.3 $ (71,038.6 ) $ 9,020.8 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 310.9 $ 223.0 $ 12.1 $ — $ 546.0 Accounts payable - affiliate 43.2 0.7 — — 43.9 Accrued expenses 1,453.7 143.5 246.5 — 1,843.7 Current operating lease liabilities - third party 67.1 13.8 — — 80.9 Current operating lease liabilities - affiliate 70.6 2.7 — — 73.3 Current debt — 2.5 — — 2.5 Deferred revenue 62.1 1.5 — — 63.6 Due to related parties 29,119.6 31,496.3 10,025.7 (70,641.6 ) — Total current liabilities 31,127.2 31,884.0 10,284.3 (70,641.6 ) 2,653.9 Long-term debt 1,446.2 44.9 19.6 — 1,510.7 Deferred tax liabilities — — 33.2 — 33.2 Long-term operating lease liabilities - third party 113.9 50.8 — — 164.7 Long-term operating lease liabilities - affiliate 519.2 63.1 — — 582.3 Other long-term liabilities 53.1 194.8 3.1 — 251.0 Investment in subsidiaries 2,381.2 — — (2,381.2 ) — Total liabilities 35,640.8 32,237.6 10,340.2 (73,022.8 ) 5,195.8 Commitments and contingencies (Note 5) Equity: PBF Holding Company LLC equity Member’s equity 2,658.4 1,743.2 317.1 (2,060.3 ) 2,658.4 Retained earnings / (accumulated deficit) 1,179.4 (4,110.9 ) 63.0 4,047.9 1,179.4 Accumulated other comprehensive loss (23.7 ) (7.5 ) — 7.5 (23.7 ) Total PBF Holding Company LLC equity 3,814.1 (2,375.2 ) 380.1 1,995.1 3,814.1 Noncontrolling interest 10.9 10.9 — (10.9 ) 10.9 Total equity 3,825.0 (2,364.3 ) 380.1 1,984.2 3,825.0 Total liabilities and equity $ 39,465.8 $ 29,873.3 $ 10,720.3 $ (71,038.6 ) $ 9,020.8 13. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED, IN MILLIONS) December 31, 2018 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total ASSETS Current assets: Cash and cash equivalents $ 526.0 $ 9.1 $ 26.6 $ — $ 561.7 Accounts receivable 690.1 7.2 13.4 — 710.7 Accounts receivable - affiliate 1.8 9.5 0.7 — 12.0 Inventories 1,685.4 — 178.7 — 1,864.1 Prepaid and other current assets 20.7 30.0 1.8 — 52.5 Due from related parties 33,793.1 25,057.3 9,534.2 (68,384.6 ) — Total current assets 36,717.1 25,113.1 9,755.4 (68,384.6 ) 3,201.0 Property, plant and equipment, net 17.3 2,722.7 231.2 — 2,971.2 Investment in subsidiaries — 421.4 — (421.4 ) — Investment in equity method investee — — 169.5 — 169.5 Deferred charges and other assets, net 16.0 855.8 — — 871.8 Total assets $ 36,750.4 $ 29,113.0 $ 10,156.1 $ (68,806.0 ) $ 7,213.5 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 278.2 $ 189.7 $ 15.9 $ — $ 483.8 Accounts payable - affiliate 34.2 14.8 0.5 — 49.5 Accrued expenses 1,364.0 156.1 58.9 — 1,579.0 Current debt — 2.4 — — 2.4 Deferred revenue 15.6 1.5 — — 17.1 Due to related parties 28,340.7 30,433.4 9,610.5 (68,384.6 ) — Total current liabilities 30,032.7 30,797.9 9,685.8 (68,384.6 ) 2,131.8 Long-term debt 1,194.7 42.0 21.3 — 1,258.0 Deferred tax liabilities — — 40.4 — 40.4 Other long-term liabilities 54.9 194.5 4.1 — 253.5 Investment in subsidiaries 1,938.3 — — (1,938.3 ) — Total liabilities 33,220.6 31,034.4 9,751.6 (70,322.9 ) 3,683.7 Commitments and contingencies (Note 5) Equity: PBF Holding Company LLC equity Member’s equity 2,652.5 1,737.2 323.7 (2,060.9 ) 2,652.5 Retained earnings 890.3 (3,662.0 ) 80.8 3,581.2 890.3 Accumulated other comprehensive loss (23.9 ) (7.5 ) — 7.5 (23.9 ) Total PBF Holding Company LLC equity 3,518.9 (1,932.3 ) 404.5 1,527.8 3,518.9 Noncontrolling interest 10.9 10.9 — (10.9 ) 10.9 Total equity 3,529.8 (1,921.4 ) 404.5 1,516.9 3,529.8 Total liabilities and equity $ 36,750.4 $ 29,113.0 $ 10,156.1 $ (68,806.0 ) $ 7,213.5 D CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED, IN MILLIONS) Three Months Ended March 31, 2019 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total Revenues $ 5,188.9 $ 850.3 $ 604.7 $ (1,435.2 ) $ 5,208.7 Cost and expenses: Cost of products and other 4,355.1 730.6 625.7 (1,435.2 ) 4,276.2 Operating expenses (excluding depreciation and amortization expense as reflected below) — 446.1 7.3 — 453.4 Depreciation and amortization expense — 92.4 1.9 — 94.3 Cost of sales 4,355.1 1,269.1 634.9 (1,435.2 ) 4,823.9 General and administrative expenses (excluding depreciation and amortization expense as reflected below) 43.3 8.6 (0.7 ) — 51.2 Depreciation and amortization expense 2.8 — — — 2.8 Equity income in investee — — (4.7 ) — (4.7 ) Total cost and expenses 4,401.2 1,277.7 629.5 (1,435.2 ) 4,873.2 Income (loss) from operations 787.7 (427.4 ) (24.8 ) — 335.5 Other income (expense): Equity in loss of subsidiaries (448.6 ) (17.8 ) — 466.4 — Change in fair value of catalyst leases — (3.1 ) — — (3.1 ) Interest expense, net (26.8 ) (0.4 ) (0.2 ) — (27.4 ) Other non-service components of net periodic benefit cost (0.2 ) 0.1 — — (0.1 ) Income (loss) before income taxes 312.1 (448.6 ) (25.0 ) 466.4 304.9 Income tax benefit — — (7.2 ) — (7.2 ) Net income (loss) 312.1 (448.6 ) (17.8 ) 466.4 312.1 Less: net income attributable to noncontrolling interests — — — — — Net income (loss) attributable to PBF Holding Company LLC $ 312.1 $ (448.6 ) $ (17.8 ) $ 466.4 $ 312.1 Comprehensive income (loss) attributable to PBF Holding Company LLC $ 312.3 $ (448.6 ) $ (17.8 ) $ 466.4 $ 312.3 13. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED, IN MILLIONS) Three Months Ended March 31, 2018 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total Revenues $ 5,734.7 $ 711.7 $ 685.6 $ (1,332.4 ) $ 5,799.6 Cost and expenses: Cost of products and other 5,238.1 604.3 679.6 (1,332.4 ) 5,189.6 Operating expenses (excluding depreciation and amortization expense as reflected below) — 405.0 6.4 — 411.4 Depreciation and amortization expense — 74.9 1.9 — 76.8 Cost of sales 5,238.1 1,084.2 687.9 (1,332.4 ) 5,677.8 General and administrative expenses (excluding depreciation and amortization expense as reflected below) 51.0 6.0 1.3 — 58.3 Depreciation and amortization expense 2.7 — — — 2.7 Equity income in investee — — (4.0 ) — (4.0 ) Loss on sale of assets — 0.1 — — 0.1 Total cost and expenses 5,291.8 1,090.3 685.2 (1,332.4 ) 5,734.9 Income (loss) from operations 442.9 (378.6 ) 0.4 — 64.7 Other income (expense): Equity in (loss) earnings of subsidiaries (377.7 ) 0.9 — 376.8 — Interest expense, net (32.7 ) (0.4 ) (0.2 ) — (33.3 ) Other non-service components of net periodic benefit cost (0.1 ) 0.4 — — 0.3 Income (loss) before income taxes 32.4 (377.7 ) 0.2 376.8 31.7 Income tax benefit — — (0.7 ) — (0.7 ) Net income (loss) 32.4 (377.7 ) 0.9 376.8 32.4 Less: net income attributable to noncontrolling interests — — — — — Net income (loss) attributable to PBF Holding Company LLC $ 32.4 $ (377.7 ) $ 0.9 $ 376.8 $ 32.4 Comprehensive income (loss) attributable to PBF Holding Company LLC $ 32.7 $ (377.7 ) $ 0.9 $ 376.8 $ 32.7 CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED, IN MILLIONS) Three Months Ended March 31, 2019 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total Cash flows from operating activities: Net income (loss) $ 312.1 $ (448.6 ) $ (17.8 ) $ 466.4 $ 312.1 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 4.4 92.4 1.9 — 98.7 Stock-based compensation 0.3 6.8 — — 7.1 Change in fair value of catalyst leases — 3.1 — — 3.1 Deferred income taxes — — (7.2 ) — (7.2 ) Non-cash change in inventory repurchase obligations 14.2 — — — 14.2 Non-cash lower of cost or market inventory adjustment (506.0 ) — — — (506.0 ) Pension and other post-retirement benefit costs 2.0 9.2 — — 11.2 Income from equity method investee — — (4.7 ) — (4.7 ) Distributions from equity method investee — — 4.7 — 4.7 Equity in earnings of subsidiaries 448.6 17.8 — (466.4 ) — Changes in operating assets and liabilities: Accounts receivable (148.4 ) 0.3 (4.6 ) — (152.7 ) Due to/from affiliates (482.3 ) 619.9 (127.3 ) — 10.3 Inventories (177.2 ) — (17.5 ) — (194.7 ) Prepaid and other current assets (42.9 ) (27.2 ) 0.1 — (70.0 ) Accounts payable 32.7 11.7 (3.8 ) — 40.6 Accrued expenses 85.7 (60.3 ) 187.9 — 213.3 Deferred revenue 46.5 — — — 46.5 Other assets and liabilities (1.4 ) (2.5 ) (7.6 ) — (11.5 ) Net cash (used in) provided by operating activities $ (411.7 ) $ 222.6 $ 4.1 $ — $ (185.0 ) Cash flows from investing activities: Expenditures for property, plant and equipment (2.2 ) (90.9 ) (1.1 ) — (94.2 ) Expenditures for deferred turnaround costs — (133.0 ) — — (133.0 ) Expenditures for other assets — (22.2 ) — — (22.2 ) Equity method investment - return of capital — — 1.8 — 1.8 Net cash (used in) provided by investing activities $ (2.2 ) $ (246.1 ) $ 0.7 $ — $ (247.6 ) Cash flows from financing activities: Distribution to members (22.8 ) (0.2 ) — — (23.0 ) Repayments of PBF Rail Term Loan — — (1.7 ) — (1.7 ) Proceeds from revolver borrowings 575.0 — — — 575.0 Repayments of revolver borrowings (325.0 ) — — — (325.0 ) Proceeds from insurance premium financing 2.8 27.4 — — 30.2 Net cash provided by (used in) financing activities $ 230.0 $ 27.2 $ (1.7 ) $ — $ 255.5 Net (decrease) increase in cash and cash equivalents (183.9 ) 3.7 3.1 — (177.1 ) Cash and cash equivalents, beginning of period 526.0 9.1 26.6 — 561.7 Cash and cash equivalents, end of period $ 342.1 $ 12.8 $ 29.7 $ — $ 384.6 13. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED, IN MILLIONS) Three Months Ended March 31, 2018 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total Cash flows from operating activities: Net income (loss) $ 32.4 $ (377.7 ) $ 0.9 $ 376.8 $ 32.4 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization 4.3 74.9 1.9 — 81.1 Stock-based compensation — 4.3 — — 4.3 Deferred income taxes — — (0.7 ) — (0.7 ) Non-cash change in inventory repurchase obligations 8.8 — — — 8.8 Non-cash lower of cost or market inventory adjustment (87.7 ) — — — (87.7 ) Debt extinguishment costs — — — — — Pension and other post-retirement benefit costs 1.6 10.2 — — 11.8 Income from equity method investee — — (4.0 ) — (4.0 ) Distributions from equity method investee — — 4.0 — 4.0 Loss on sale of assets — 0.1 — — 0.1 Equity in earnings (loss) of subsidiaries 377.7 (0.9 ) — (376.8 ) — Changes in operating assets and liabilities: Accounts receivable 116.3 0.7 4.4 — 121.4 Due to/from affiliates (522.3 ) 453.0 63.9 — (5.4 ) Inventories (247.4 ) — (30.9 ) — (278.3 ) Prepaid and other current assets (6.9 ) (29.6 ) 0.3 — (36.2 ) Accounts payable 69.4 (31.4 ) (5.8 ) — 32.2 Accrued expenses 55.4 (45.8 ) (32.5 ) — (22.9 ) Deferred revenue (2.0 ) — — — (2.0 ) Other assets and liabilities 0.5 (1.6 ) (4.9 ) — (6.0 ) Net cash (used in) provided by operating activities $ (199.9 ) $ 56.2 $ (3.4 ) $ — $ (147.1 ) Cash flows from investing activities: Expenditures for property, plant and equipment (1.0 ) (19.7 ) (0.3 ) — (21.0 ) Expenditures for deferred turnaround costs — (58.8 ) — — (58.8 ) Expenditures for other assets — (9.5 ) — — (9.5 ) Equity method investment - return of capital — — 1.0 — 1.0 Due to/from affiliates (4.3 ) — — 4.3 — Net cash (used in) provided by investing activities $ (5.3 ) $ (88.0 ) $ 0.7 $ 4.3 $ (88.3 ) Cash flows from financing activities: Repayment of notes payable — (1.2 ) — — (1.2 ) Repayments of PBF Rail Term Loan — — (1.7 ) — (1.7 ) Due to/from affiliates — 4.3 — (4.3 ) — Proceeds from insurance premium financing 2.0 25.9 — — 27.9 Net cash provided by (used in) financing activities 2.0 29.0 (1.7 ) (4.3 ) 25.0 Net decrease in cash and cash equivalents (203.2 ) (2.8 ) (4.4 ) — (210.4 ) Cash and cash equivalents, beginning of period 486.6 13.5 26.1 — 526.2 Cash and cash equivalents, end of period $ 283.4 $ 10.7 $ 21.7 $ — $ 315.8

DESCRIPTION OF THE BUSINESS A_2

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial information furnished herein reflects all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, considered necessary for a fair presentation of the financial position and the results of operations and cash flows of the Company for the periods presented. All intercompany accounts and transactions have been eliminated in consolidation. These unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. These interim Condensed Consolidated Financial Statements should be read in conjunction with the PBF Holding Company LLC and PBF Finance Corporation financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2018 . The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the results to be expected for the full year.
New Accounting Pronouncements	Recently Adopted Accounting Guidance In February 2016, the Financial Accounting Standard Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”) to increase the transparency and comparability about leases among entities. Additional ASUs have been issued subsequent to ASU 2016-02 to provide supplementary clarification and implementation guidance for leases related to, among other things, the application of certain practical expedients, the rate implicit in the lease, lessee reassessment of lease classification, lessor reassessment of lease term and purchase options, variable payments that depend on an index or rate and certain transition adjustments. ASU 2016-02 and these additional ASUs are now codified as Accounting Standards Codification Standard 842 - “Leases” (“ASC 842”). ASC 842 supersedes the lease accounting guidance in Accounting Standards Codification 840 “Leases” (“ASC 840”), and requires lessees to recognize a lease liability and a corresponding lease asset for virtually all lease contracts. It also requires additional disclosures about leasing arrangements. The Company elected to utilize the “package” of three expedients, as defined in ASC 842, which retain the lease classification and initial direct costs for any leases that existed prior to adoption of the standard. The Company also has elected to not evaluate land easements that existed as of, or expired before, adoption of the new standard. The Company’s Condensed Consolidated Financial Statements for the periods prior to the adoption of ASC 842 are not adjusted and are reported in accordance with the Company’s historical accounting policy. As of the date of implementation on January 1, 2019, the impact of the adoption of ASC 842 resulted in the recognition of a right of use asset and lease payable obligation on the Company’s Condensed Consolidated Balance Sheets of approximately $853.9 million , of which $604.4 million is attributable to leases with affiliates. As the right of use asset and the lease payable obligation were the same upon adoption of ASC 842, there was no cumulative effect impact on the Company’s retained earnings. See “Note 6 - Leases” for further details. In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities” (“ASU 2017-12”). The amendments in ASU 2017-12 more closely align the results of cash flow and fair value hedge accounting with risk management activities in the consolidated financial statements. The amendments expand the ability to hedge nonfinancial and financial risk components, reduce complexity in fair value hedges of interest rate risk, eliminate the requirement to separately measure and report hedge ineffectiveness, and eases certain hedge effectiveness assessment requirements. The guidance in ASU 2017-12 was applied using a modified retrospective approach. The guidance in ASU 2017-12 also provided transition relief to make it easier for entities to apply certain amendments to existing hedges (including fair value hedges) where the hedge documentation needs to be modified. The presentation and disclosure requirements of ASU 2017-12 were applied prospectively. The Company adopted the amendments in this ASU effective January 1, 2019, which did not have a material impact on its Condensed Consolidated Financial Statements and related disclosures. In June 2018, the FASB issued ASU No. 2018-07, “Compensation - Stock Compensation (Topic 718): Targeted Improvements to Non-employee Share-Based Payment Accounting” (“ASU 2018-07”). ASU 2018-07 expands the scope of Topic 718, Compensation - Stock Compensation, to include share-based payment transactions for acquiring goods and services from non-employees. As a result, non-employee share-based transactions will be measured by estimating the fair value of the equity instruments at the grant date, taking into consideration the probability of satisfying performance conditions. In addition, ASU 2018-07 also clarifies that any share-based payment awards issued to customers should be evaluated under ASC 606, Revenue from Contracts with Customers (“ASC 606”). The Company adopted the amendments in this ASU effective January 1, 2019, which did not have a material impact on its Condensed Consolidated Financial Statements and related disclosures. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-14, “Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20)”, to improve the effectiveness of benefit plan disclosures in the notes to financial statements by facilitating clear communication of the information required by GAAP that is most important to users of each entity’s financial statements. The amendments in this ASU modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. Additionally, the amendments in this ASU remove disclosures that no longer are considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. The amendments in this ASU are effective for fiscal years ending after December 15, 2020, for public business entities and for fiscal years ending after December 15, 2021, for all other entities. Early adoption is permitted for all entities. The Company is currently evaluating the impact of this new standard on its consolidated financial statements and related disclosures.

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following: March 31, 2019 (in millions) Titled Inventory Inventory Intermediation Agreements Total Crude oil and feedstocks $ 1,156.2 $ 69.9 $ 1,226.1 Refined products and blendstocks 1,067.1 308.0 1,375.1 Warehouse stock and other 109.4 — 109.4 $ 2,332.7 $ 377.9 $ 2,710.6 Lower of cost or market adjustment (76.8 ) (69.0 ) (145.8 ) Total inventories $ 2,255.9 $ 308.9 $ 2,564.8 December 31, 2018 (in millions) Titled Inventory Inventory Intermediation Agreements Total Crude oil and feedstocks $ 1,044.8 $ — $ 1,044.8 Refined products and blendstocks 1,026.9 334.8 1,361.7 Warehouse stock and other 109.4 — 109.4 $ 2,181.1 $ 334.8 $ 2,515.9 Lower of cost or market adjustment (557.2 ) (94.6 ) (651.8 ) Total inventories $ 1,623.9 $ 240.2 $ 1,864.1

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Schedule of accrued expenses	Accrued expenses consisted of the following: (in millions) March 31, December 31, Inventory-related accruals $ 1,124.3 $ 846.3 Inventory intermediation agreements 294.6 249.4 Excise and sales tax payable 129.3 149.4 Accrued capital expenditures 66.7 59.9 Accrued transportation costs 62.3 53.6 Accrued utilities 40.0 49.8 Accrued interest 28.8 6.8 Renewable energy credit and emissions obligations 24.3 27.1 Accrued salaries and benefits 15.4 89.3 Environmental liabilities 8.8 6.5 Accrued refinery maintenance and support costs 8.3 19.0 Customer deposits 0.7 5.6 Other 40.2 16.3 Total accrued expenses $ 1,843.7 $ 1,579.0

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Schedule of related party transactions	A summary of transactions with PBFX is as follows: Three Months Ended March 31, (in millions) 2019 2018 Reimbursements under affiliate agreements: Services Agreement $ 2.1 $ 1.7 Omnibus Agreement 1.8 1.7 Total expenses under affiliate agreements 71.3 60.9 Total reimbursements under the Omnibus Agreement are included in General and administrative expenses and reimbursements under the Services Agreement and expenses under affiliate agreements are included in Cost of products and other in the Company’s Condensed Consolidated Statements of Operations.

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Assets and Liabilities, Lessee [Table Text Block]	The table below presents the lease related assets and liabilities recorded on the Company’s Condensed Consolidated Balance Sheets as of March 31, 2019 : (in millions) Classification on the Balance Sheet March 31, 2019 Assets Operating lease assets - third party Operating lease right of use assets - third party $ 245.1 Operating lease assets - affiliate Operating lease right of use assets - affiliate 655.6 Total lease assets $ 900.7 Liabilities Current liabilities: Operating lease liabilities - third party Current operating lease liabilities - third party $ 80.9 Operating lease liabilities - affiliate Current operating lease liabilities - affiliate 73.3 Noncurrent liabilities: Operating lease liabilities - third party Long-term operating lease liabilities - third party 164.7 Operating lease liabilities - affiliate Long-term operating lease liabilities - affiliate 582.3 Total lease liabilities $ 901.2
Lease, Cost [Table Text Block]	The table below presents certain information related to lease costs associated with the Company’s operating leases for the three months ended March 31, 2019 : Three Months Ended March 31, Lease Costs (in millions) 2019 Components of total lease cost: Operating lease cost $ 53.3 Short-term lease cost 23.3 Variable lease cost 10.1 Total lease cost $ 86.7
Cash Flow, Lessee [Table Text Block]	The table below presents supplemental cash flow information related to leases for the three months ended March 31, 2019 : Three Months Ended March 31, (in millions) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 35.4 Supplemental non-cash amounts of lease liabilities arising from obtaining right-of-use assets 82.7 Lease Term and Discount Rate The table below presents certain information related to the weighted average remaining lease term and weighted average discount rate for the Company’s operating leases as of March 31, 2019 : March 31, 2019 Weighted average remaining lease term - operating leases 7.1 years Weighted average discount rate - operating leases 8.33 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The table below reconciles the fixed component of the undiscounted cash flows for each of the first five years and the total remaining years to the operating lease liabilities recorded on the Condensed Consolidated Balance Sheets as of March 31, 2019 : Amounts due within twelve months of March 31, (in millions) Operating Leases 2019 $ 218.7 2020 193.0 2021 155.2 2022 142.6 2023 135.9 Thereafter 369.8 Total minimum lease payments 1,215.2 Less: effect of discounting 314.0 Present value of future minimum lease payments 901.2 Less: current obligations under leases 154.2 Long-term lease obligations $ 747.0

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2019
Defined Benefit Plan [Abstract]
Schedule of net periodic benefit cost	The components of net periodic benefit cost related to the Company’s defined benefit plans consisted of the following: (in millions) Three Months Ended Pension Benefits 2019 2018 Components of net periodic benefit cost: Service cost $ 10.9 $ 11.8 Interest cost 2.1 1.4 Expected return on plan assets (2.4 ) (2.1 ) Amortization of prior service cost and actuarial loss 0.1 0.1 Net periodic benefit cost $ 10.7 $ 11.2 (in millions) Three Months Ended Post-Retirement Medical Plan 2019 2018 Components of net periodic benefit cost: Service cost $ 0.2 $ 0.3 Interest cost 0.2 0.1 Amortization of prior service cost 0.1 0.2 Net periodic benefit cost $ 0.5 $ 0.6

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Mar. 31, 2019
Revenues [Abstract]
Revenue from External Customers by Products and Services [Table Text Block]	The following table provides information relating to the Company’s revenues from external customers for each product or group of similar products for the periods presented: Three Months Ended (in millions) 2019 2018 Gasoline and distillates $ 4,433.0 $ 4,994.3 Asphalt and blackoils 353.0 308.9 Feedstocks and other 200.7 238.7 Chemicals 151.7 176.1 Lubricants 70.3 81.6 Total Revenues $ 5,208.7 $ 5,799.6

INCOME TAXES INCOME TAX EXPENSE

INCOME TAXES INCOME TAX EXPENSE (Tables)	3 Months Ended
	Mar. 31, 2019
INCOME TAX EXPENSE [Abstract]
Schedule of components of income tax provision (benefit)	The reported income tax benefit in the PBF Holding Condensed Consolidated Financial Statements of Operations consists of the following: Three Months Ended (in millions) 2019 2018 Current income tax expense $ — $ — Deferred income tax benefit (7.2 ) (0.7 ) Total income tax benefit $ (7.2 ) $ (0.7 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The tables below present information about the Company’s financial assets and liabilities measured and recorded at fair value on a recurring basis and indicate the fair value hierarchy of the inputs utilized to determine the fair values as of March 31, 2019 and December 31, 2018 . We have elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty; however, fair value amounts by hierarchy level are presented on a gross basis in the tables below. We have posted cash margin with various counterparties to support hedging and trading activities. The cash margin posted is required by counterparties as collateral deposits and cannot be offset against the fair value of open contracts except in the event of default. We have no derivative contracts that are subject to master netting arrangements that are reflected gross on the Condensed Consolidated Balance Sheets. As of March 31, 2019 Fair Value Hierarchy Total Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet (in millions) Level 1 Level 2 Level 3 Assets: Money market funds $ 2.9 $ — $ — $ 2.9 N/A $ 2.9 Commodity contracts 3.5 11.7 — 15.2 (5.3 ) 9.9 Derivatives included with inventory intermediation agreement obligations — 9.8 — 9.8 — 9.8 Liabilities: Commodity contracts 5.0 0.3 — 5.3 (5.3 ) — Catalyst lease obligations — 47.4 — 47.4 — 47.4 As of December 31, 2018 Fair Value Hierarchy Total Gross Fair Value Effect of Counter-party Netting Net Carrying Value on Balance Sheet (in millions) Level 1 Level 2 Level 3 Assets: Money market funds $ 2.8 $ — $ — $ 2.8 N/A $ 2.8 Commodity contracts 1.2 8.9 — 10.1 (2.9 ) 7.2 Derivatives included with inventory intermediation agreement obligations — 24.1 — 24.1 — 24.1 Liabilities: Commodity contracts 2.7 0.2 — 2.9 (2.9 ) — Catalyst lease obligations — 44.3 — 44.3 — 44.3
Schedule of Fair value of Debt	The table below summarizes the fair value and carrying value of debt as of March 31, 2019 and December 31, 2018 . March 31, 2019 December 31, 2018 (in millions) Carrying value Fair value Carrying value Fair value 2025 Senior Notes (a) $ 725.0 $ 745.9 $ 725.0 $ 688.4 2023 Senior Notes (a) 500.0 515.6 500.0 479.4 Revolving Credit Facility (b) 250.0 250.0 — — PBF Rail Term Loan (b) 19.8 19.8 21.6 21.6 Catalyst leases (c) 47.4 47.4 44.3 44.3 1,542.2 1,578.7 1,290.9 1,233.7 Less - Current debt (c) (2.5 ) (2.5 ) (2.4 ) (2.4 ) Less - Unamortized deferred financing costs (29.0 ) n/a (30.5 ) n/a Long-term debt $ 1,510.7 $ 1,576.2 $ 1,258.0 $ 1,231.3 ____________________________ (a) The estimated fair value, categorized as a Level 2 measurement, was calculated based on the present value of future expected payments utilizing implied current market interest rates based on quoted prices of the 7.00% senior notes due 2023 and the 7.25% senior notes due 2025 (collectively, the “Senior Notes”). (b) The estimated fair value approximates carrying value, categorized as a Level 2 measurement, as these borrowings bear interest based upon short-term floating market interest rates. (c) Catalyst leases are valued using a market approach based upon commodity prices for similar instruments quoted in active markets and are categorized as a Level 2 measurement. The Company has elected the fair value option for accounting for its catalyst lease repurchase obligations as the Company’s liability is directly impacted by the change in fair value of the underlying catalyst. During 2018, Toledo Refining and Chalmette Refining entered into two platinum bridge leases which were settled in April 2019 and Delaware City Refining entered into a new platinum bridge lease, which will expire in the second quarter of 2019. These leases are payable at maturity and are not anticipated to be renewed. The total outstanding balance related to these bridge leases as of March 31, 2019 and December 31, 2018 was $2.5 million and $2.4 million , respectively, and is included in Current debt in the Company’s Condensed Consolidated Balance Sheets.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	The following tables provide information about the fair values of these derivative instruments as of March 31, 2019 and December 31, 2018 and the line items in the Condensed Consolidated Balance Sheets in which the fair values are reflected. Description Balance Sheet Location Fair Value Asset/(Liability) (in millions) Derivatives designated as hedging instruments: March 31, 2019: Derivatives included with the inventory intermediation agreement obligations Accrued expenses $ 9.8 December 31, 2018: Derivatives included with the inventory intermediation agreement obligations Accrued expenses $ 24.1 Derivatives not designated as hedging instruments: March 31, 2019: Commodity contracts Accounts receivable $ 9.9 December 31, 2018: Commodity contracts Accounts receivable $ 7.2
Schedule of Derivative Instruments, Gain (Loss) Recognized in Income	The following table provides information about the gains or losses recognized in income on these derivative instruments and the line items in the Condensed Consolidated Statements of Operations in which such gains and losses are reflected. Description Location of Gain or (Loss) Recognized in Income on Derivatives Gain or (Loss) Recognized in Income on Derivatives (in millions) Derivatives designated as hedging instruments: For the three months ended March 31, 2019: Derivatives included with the inventory intermediation agreement obligations Cost of products and other $ (14.2 ) For the three months ended March 31, 2018: Derivatives included with the inventory intermediation agreement obligations Cost of products and other $ (8.8 ) Derivatives not designated as hedging instruments: For the three months ended March 31, 2019: Commodity contracts Cost of products and other $ 31.7 For the three months ended March 31, 2018: Commodity contracts Cost of products and other $ (13.3 ) Hedged items designated in fair value hedges: For the three months ended March 31, 2019: Crude oil, intermediate and refined product inventory Cost of products and other $ 14.2 For the three months ended March 31, 2018: Intermediate and refined product inventory Cost of products and other $ 8.8

CONDENSED CONSOLIDATING FINAN_2

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDINGS (Tables)	3 Months Ended
	Mar. 31, 2019
Condensed Financial Information of Subsidiary Disclosure [Abstract]
Condensed Consolidating Balance Sheet	CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED, IN MILLIONS) March 31, 2019 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total ASSETS Current assets: Cash and cash equivalents $ 342.1 $ 12.8 $ 29.7 $ — $ 384.6 Accounts receivable 838.5 7.0 17.9 — 863.4 Accounts receivable - affiliate 1.4 2.6 0.7 — 4.7 Inventories 2,368.6 — 196.2 — 2,564.8 Prepaid and other current assets 63.5 57.2 1.7 — 122.4 Due from related parties 35,050.5 25,514.7 10,076.4 (70,641.6 ) — Total current assets 38,664.6 25,594.3 10,322.6 (70,641.6 ) 3,939.9 Property, plant and equipment, net 16.8 2,767.5 230.0 — 3,014.3 Investment in subsidiaries — 397.0 — (397.0 ) — Investment in equity method investee — — 167.7 — 167.7 Operating lease right of use assets - third party 181.1 64.0 — — 245.1 Operating lease right of use assets - affiliate 589.9 65.7 — — 655.6 Deferred charges and other assets, net 13.4 984.8 — — 998.2 Total assets $ 39,465.8 $ 29,873.3 $ 10,720.3 $ (71,038.6 ) $ 9,020.8 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 310.9 $ 223.0 $ 12.1 $ — $ 546.0 Accounts payable - affiliate 43.2 0.7 — — 43.9 Accrued expenses 1,453.7 143.5 246.5 — 1,843.7 Current operating lease liabilities - third party 67.1 13.8 — — 80.9 Current operating lease liabilities - affiliate 70.6 2.7 — — 73.3 Current debt — 2.5 — — 2.5 Deferred revenue 62.1 1.5 — — 63.6 Due to related parties 29,119.6 31,496.3 10,025.7 (70,641.6 ) — Total current liabilities 31,127.2 31,884.0 10,284.3 (70,641.6 ) 2,653.9 Long-term debt 1,446.2 44.9 19.6 — 1,510.7 Deferred tax liabilities — — 33.2 — 33.2 Long-term operating lease liabilities - third party 113.9 50.8 — — 164.7 Long-term operating lease liabilities - affiliate 519.2 63.1 — — 582.3 Other long-term liabilities 53.1 194.8 3.1 — 251.0 Investment in subsidiaries 2,381.2 — — (2,381.2 ) — Total liabilities 35,640.8 32,237.6 10,340.2 (73,022.8 ) 5,195.8 Commitments and contingencies (Note 5) Equity: PBF Holding Company LLC equity Member’s equity 2,658.4 1,743.2 317.1 (2,060.3 ) 2,658.4 Retained earnings / (accumulated deficit) 1,179.4 (4,110.9 ) 63.0 4,047.9 1,179.4 Accumulated other comprehensive loss (23.7 ) (7.5 ) — 7.5 (23.7 ) Total PBF Holding Company LLC equity 3,814.1 (2,375.2 ) 380.1 1,995.1 3,814.1 Noncontrolling interest 10.9 10.9 — (10.9 ) 10.9 Total equity 3,825.0 (2,364.3 ) 380.1 1,984.2 3,825.0 Total liabilities and equity $ 39,465.8 $ 29,873.3 $ 10,720.3 $ (71,038.6 ) $ 9,020.8 13. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED, IN MILLIONS) December 31, 2018 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total ASSETS Current assets: Cash and cash equivalents $ 526.0 $ 9.1 $ 26.6 $ — $ 561.7 Accounts receivable 690.1 7.2 13.4 — 710.7 Accounts receivable - affiliate 1.8 9.5 0.7 — 12.0 Inventories 1,685.4 — 178.7 — 1,864.1 Prepaid and other current assets 20.7 30.0 1.8 — 52.5 Due from related parties 33,793.1 25,057.3 9,534.2 (68,384.6 ) — Total current assets 36,717.1 25,113.1 9,755.4 (68,384.6 ) 3,201.0 Property, plant and equipment, net 17.3 2,722.7 231.2 — 2,971.2 Investment in subsidiaries — 421.4 — (421.4 ) — Investment in equity method investee — — 169.5 — 169.5 Deferred charges and other assets, net 16.0 855.8 — — 871.8 Total assets $ 36,750.4 $ 29,113.0 $ 10,156.1 $ (68,806.0 ) $ 7,213.5 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 278.2 $ 189.7 $ 15.9 $ — $ 483.8 Accounts payable - affiliate 34.2 14.8 0.5 — 49.5 Accrued expenses 1,364.0 156.1 58.9 — 1,579.0 Current debt — 2.4 — — 2.4 Deferred revenue 15.6 1.5 — — 17.1 Due to related parties 28,340.7 30,433.4 9,610.5 (68,384.6 ) — Total current liabilities 30,032.7 30,797.9 9,685.8 (68,384.6 ) 2,131.8 Long-term debt 1,194.7 42.0 21.3 — 1,258.0 Deferred tax liabilities — — 40.4 — 40.4 Other long-term liabilities 54.9 194.5 4.1 — 253.5 Investment in subsidiaries 1,938.3 — — (1,938.3 ) — Total liabilities 33,220.6 31,034.4 9,751.6 (70,322.9 ) 3,683.7 Commitments and contingencies (Note 5) Equity: PBF Holding Company LLC equity Member’s equity 2,652.5 1,737.2 323.7 (2,060.9 ) 2,652.5 Retained earnings 890.3 (3,662.0 ) 80.8 3,581.2 890.3 Accumulated other comprehensive loss (23.9 ) (7.5 ) — 7.5 (23.9 ) Total PBF Holding Company LLC equity 3,518.9 (1,932.3 ) 404.5 1,527.8 3,518.9 Noncontrolling interest 10.9 10.9 — (10.9 ) 10.9 Total equity 3,529.8 (1,921.4 ) 404.5 1,516.9 3,529.8 Total liabilities and equity $ 36,750.4 $ 29,113.0 $ 10,156.1 $ (68,806.0 ) $ 7,213.5
Condensed Income Statement	D CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED, IN MILLIONS) Three Months Ended March 31, 2019 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total Revenues $ 5,188.9 $ 850.3 $ 604.7 $ (1,435.2 ) $ 5,208.7 Cost and expenses: Cost of products and other 4,355.1 730.6 625.7 (1,435.2 ) 4,276.2 Operating expenses (excluding depreciation and amortization expense as reflected below) — 446.1 7.3 — 453.4 Depreciation and amortization expense — 92.4 1.9 — 94.3 Cost of sales 4,355.1 1,269.1 634.9 (1,435.2 ) 4,823.9 General and administrative expenses (excluding depreciation and amortization expense as reflected below) 43.3 8.6 (0.7 ) — 51.2 Depreciation and amortization expense 2.8 — — — 2.8 Equity income in investee — — (4.7 ) — (4.7 ) Total cost and expenses 4,401.2 1,277.7 629.5 (1,435.2 ) 4,873.2 Income (loss) from operations 787.7 (427.4 ) (24.8 ) — 335.5 Other income (expense): Equity in loss of subsidiaries (448.6 ) (17.8 ) — 466.4 — Change in fair value of catalyst leases — (3.1 ) — — (3.1 ) Interest expense, net (26.8 ) (0.4 ) (0.2 ) — (27.4 ) Other non-service components of net periodic benefit cost (0.2 ) 0.1 — — (0.1 ) Income (loss) before income taxes 312.1 (448.6 ) (25.0 ) 466.4 304.9 Income tax benefit — — (7.2 ) — (7.2 ) Net income (loss) 312.1 (448.6 ) (17.8 ) 466.4 312.1 Less: net income attributable to noncontrolling interests — — — — — Net income (loss) attributable to PBF Holding Company LLC $ 312.1 $ (448.6 ) $ (17.8 ) $ 466.4 $ 312.1 Comprehensive income (loss) attributable to PBF Holding Company LLC $ 312.3 $ (448.6 ) $ (17.8 ) $ 466.4 $ 312.3 13. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED, IN MILLIONS) Three Months Ended March 31, 2018 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total Revenues $ 5,734.7 $ 711.7 $ 685.6 $ (1,332.4 ) $ 5,799.6 Cost and expenses: Cost of products and other 5,238.1 604.3 679.6 (1,332.4 ) 5,189.6 Operating expenses (excluding depreciation and amortization expense as reflected below) — 405.0 6.4 — 411.4 Depreciation and amortization expense — 74.9 1.9 — 76.8 Cost of sales 5,238.1 1,084.2 687.9 (1,332.4 ) 5,677.8 General and administrative expenses (excluding depreciation and amortization expense as reflected below) 51.0 6.0 1.3 — 58.3 Depreciation and amortization expense 2.7 — — — 2.7 Equity income in investee — — (4.0 ) — (4.0 ) Loss on sale of assets — 0.1 — — 0.1 Total cost and expenses 5,291.8 1,090.3 685.2 (1,332.4 ) 5,734.9 Income (loss) from operations 442.9 (378.6 ) 0.4 — 64.7 Other income (expense): Equity in (loss) earnings of subsidiaries (377.7 ) 0.9 — 376.8 — Interest expense, net (32.7 ) (0.4 ) (0.2 ) — (33.3 ) Other non-service components of net periodic benefit cost (0.1 ) 0.4 — — 0.3 Income (loss) before income taxes 32.4 (377.7 ) 0.2 376.8 31.7 Income tax benefit — — (0.7 ) — (0.7 ) Net income (loss) 32.4 (377.7 ) 0.9 376.8 32.4 Less: net income attributable to noncontrolling interests — — — — — Net income (loss) attributable to PBF Holding Company LLC $ 32.4 $ (377.7 ) $ 0.9 $ 376.8 $ 32.4 Comprehensive income (loss) attributable to PBF Holding Company LLC $ 32.7 $ (377.7 ) $ 0.9 $ 376.8 $ 32.7
Condensed Consolidating Statement of Cash Flow	CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED, IN MILLIONS) Three Months Ended March 31, 2019 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total Cash flows from operating activities: Net income (loss) $ 312.1 $ (448.6 ) $ (17.8 ) $ 466.4 $ 312.1 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 4.4 92.4 1.9 — 98.7 Stock-based compensation 0.3 6.8 — — 7.1 Change in fair value of catalyst leases — 3.1 — — 3.1 Deferred income taxes — — (7.2 ) — (7.2 ) Non-cash change in inventory repurchase obligations 14.2 — — — 14.2 Non-cash lower of cost or market inventory adjustment (506.0 ) — — — (506.0 ) Pension and other post-retirement benefit costs 2.0 9.2 — — 11.2 Income from equity method investee — — (4.7 ) — (4.7 ) Distributions from equity method investee — — 4.7 — 4.7 Equity in earnings of subsidiaries 448.6 17.8 — (466.4 ) — Changes in operating assets and liabilities: Accounts receivable (148.4 ) 0.3 (4.6 ) — (152.7 ) Due to/from affiliates (482.3 ) 619.9 (127.3 ) — 10.3 Inventories (177.2 ) — (17.5 ) — (194.7 ) Prepaid and other current assets (42.9 ) (27.2 ) 0.1 — (70.0 ) Accounts payable 32.7 11.7 (3.8 ) — 40.6 Accrued expenses 85.7 (60.3 ) 187.9 — 213.3 Deferred revenue 46.5 — — — 46.5 Other assets and liabilities (1.4 ) (2.5 ) (7.6 ) — (11.5 ) Net cash (used in) provided by operating activities $ (411.7 ) $ 222.6 $ 4.1 $ — $ (185.0 ) Cash flows from investing activities: Expenditures for property, plant and equipment (2.2 ) (90.9 ) (1.1 ) — (94.2 ) Expenditures for deferred turnaround costs — (133.0 ) — — (133.0 ) Expenditures for other assets — (22.2 ) — — (22.2 ) Equity method investment - return of capital — — 1.8 — 1.8 Net cash (used in) provided by investing activities $ (2.2 ) $ (246.1 ) $ 0.7 $ — $ (247.6 ) Cash flows from financing activities: Distribution to members (22.8 ) (0.2 ) — — (23.0 ) Repayments of PBF Rail Term Loan — — (1.7 ) — (1.7 ) Proceeds from revolver borrowings 575.0 — — — 575.0 Repayments of revolver borrowings (325.0 ) — — — (325.0 ) Proceeds from insurance premium financing 2.8 27.4 — — 30.2 Net cash provided by (used in) financing activities $ 230.0 $ 27.2 $ (1.7 ) $ — $ 255.5 Net (decrease) increase in cash and cash equivalents (183.9 ) 3.7 3.1 — (177.1 ) Cash and cash equivalents, beginning of period 526.0 9.1 26.6 — 561.7 Cash and cash equivalents, end of period $ 342.1 $ 12.8 $ 29.7 $ — $ 384.6 13. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED, IN MILLIONS) Three Months Ended March 31, 2018 Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Combining and Consolidating Adjustments Total Cash flows from operating activities: Net income (loss) $ 32.4 $ (377.7 ) $ 0.9 $ 376.8 $ 32.4 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization 4.3 74.9 1.9 — 81.1 Stock-based compensation — 4.3 — — 4.3 Deferred income taxes — — (0.7 ) — (0.7 ) Non-cash change in inventory repurchase obligations 8.8 — — — 8.8 Non-cash lower of cost or market inventory adjustment (87.7 ) — — — (87.7 ) Debt extinguishment costs — — — — — Pension and other post-retirement benefit costs 1.6 10.2 — — 11.8 Income from equity method investee — — (4.0 ) — (4.0 ) Distributions from equity method investee — — 4.0 — 4.0 Loss on sale of assets — 0.1 — — 0.1 Equity in earnings (loss) of subsidiaries 377.7 (0.9 ) — (376.8 ) — Changes in operating assets and liabilities: Accounts receivable 116.3 0.7 4.4 — 121.4 Due to/from affiliates (522.3 ) 453.0 63.9 — (5.4 ) Inventories (247.4 ) — (30.9 ) — (278.3 ) Prepaid and other current assets (6.9 ) (29.6 ) 0.3 — (36.2 ) Accounts payable 69.4 (31.4 ) (5.8 ) — 32.2 Accrued expenses 55.4 (45.8 ) (32.5 ) — (22.9 ) Deferred revenue (2.0 ) — — — (2.0 ) Other assets and liabilities 0.5 (1.6 ) (4.9 ) — (6.0 ) Net cash (used in) provided by operating activities $ (199.9 ) $ 56.2 $ (3.4 ) $ — $ (147.1 ) Cash flows from investing activities: Expenditures for property, plant and equipment (1.0 ) (19.7 ) (0.3 ) — (21.0 ) Expenditures for deferred turnaround costs — (58.8 ) — — (58.8 ) Expenditures for other assets — (9.5 ) — — (9.5 ) Equity method investment - return of capital — — 1.0 — 1.0 Due to/from affiliates (4.3 ) — — 4.3 — Net cash (used in) provided by investing activities $ (5.3 ) $ (88.0 ) $ 0.7 $ 4.3 $ (88.3 ) Cash flows from financing activities: Repayment of notes payable — (1.2 ) — — (1.2 ) Repayments of PBF Rail Term Loan — — (1.7 ) — (1.7 ) Due to/from affiliates — 4.3 — (4.3 ) — Proceeds from insurance premium financing 2.0 25.9 — — 27.9 Net cash provided by (used in) financing activities 2.0 29.0 (1.7 ) (4.3 ) 25.0 Net decrease in cash and cash equivalents (203.2 ) (2.8 ) (4.4 ) — (210.4 ) Cash and cash equivalents, beginning of period 486.6 13.5 26.1 — 526.2 Cash and cash equivalents, end of period $ 283.4 $ 10.7 $ 21.7 $ — $ 315.8

DESCRIPTION OF THE BUSINESS A_3

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)segment	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Description of Business [Line Items]
Number of reportable segments | segment	1
Operating Lease, Right-of-Use Asset	$ 900.7	$ 853.9
Operating Lease, Liability	$ 901.2	689.2
PBF Energy [Member] | Class A Common Stock [Member]
Description of Business [Line Items]
Percentage of ownership in PBF LLC	99.00%		99.00%
Lease with Affiliate [Member]
Description of Business [Line Items]
Operating Lease, Right-of-Use Asset	$ 655.6	604.4	$ 0
Operating Lease, Liability		$ 604.4

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Inventory [Line Items]
Crude oil and feedstocks	$ 1,226,100		$ 1,044,800
Refined products and blendstocks	1,375,100		1,361,700
Warehouse stock and other	109,400		109,400
Inventory, Gross	2,710,600		2,515,900
Lower of cost or market adjustment	(145,800)	$ 212,800	(651,800)	$ 300,500
Total inventories	2,564,800		1,864,100
Income (Loss) from Operations	335,500	64,700
Scenario, Adjustment [Member]
Inventory [Line Items]
Lower of cost or market adjustment	(145,800)		(651,800)
Income (Loss) from Operations	506,000	$ 87,700
Titled Inventory [Member]
Inventory [Line Items]
Crude oil and feedstocks	1,156,200		1,044,800
Refined products and blendstocks	1,067,100		1,026,900
Warehouse stock and other	109,400		109,400
Inventory, Gross	2,332,700		2,181,100
Lower of cost or market adjustment	(76,800)		(557,200)
Total inventories	2,255,900		1,623,900
Inventory Supply and Offtake Arrangements [Member]
Inventory [Line Items]
Crude oil and feedstocks	69,900		0
Refined products and blendstocks	308,000		334,800
Warehouse stock and other	0		0
Inventory, Gross	377,900		334,800
Lower of cost or market adjustment	(69,000)		(94,600)
Total inventories	$ 308,900		$ 240,200

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Accrued Expenses:
Inventory-related accruals	$ 1,124.3	$ 846.3
Inventory intermediation agreements	294.6	249.4
Excise and sales tax payable	129.3	149.4
Accrued capital expenditures	66.7	59.9
Accrued transportation costs	62.3	53.6
Accrued utilities	40	49.8
Accrued interest	28.8	6.8
Renewable energy credit and emissions obligations	24.3	27.1
Accrued salaries and benefits	15.4	89.3
Environmental liabilities	8.8	6.5
Accrued refinery maintenance and support costs	8.3	19
Customer deposits	0.7	5.6
Other	40.2	16.3
Total accrued expenses	$ 1,843.7	$ 1,579

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Millions	Jan. 01, 2022bbl	Jan. 01, 2019bbl / d	Apr. 16, 2018	May 08, 2014bbl / d	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Related Party Transaction [Line Items]
Number of Contract Renewals					2
Term of Renewal					5 years
PBF Logistics LP [Member] | Cost of Sales [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction					$ 71.3	$ 60.9
PBF Logistics LP [Member] | Amended and Restated Rail Agreement [Member]
Related Party Transaction [Line Items]
Term of Agreement				7 years 8 months
Oil And Gas Plant, Collaborative Agreement, Minimum Throughput Capacity | bbl / d				125,000
PBF Logistics LP [Member] | Delaware City Pipeline Services Agreement [Member]
Related Party Transaction [Line Items]
Term of Agreement			2 years 5 months
PBF Logistics LP [Member] | Delaware City Terminaling Services Agreement [Member] | Scenario, Forecast [Member]
Related Party Transaction [Line Items]
Term of Agreement	4 years
Number of Contract Renewals	2
Term of Renewal	5 years
Oil And Gas Plant, Maximum Storage Capacity | bbl	95,000
PBF Logistics LP [Member] | Omnibus Agreement [Member] | General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction					1.8	1.7
PBF Logistics LP [Member] | Services Agreement [Member] | General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction					$ 2.1	$ 1.7
PBF Logistics LP [Member] | East Coast Storage Assets Terminal Storage Agreement [Member]
Related Party Transaction [Line Items]
Term of Agreement		8 years
Oil And Gas Plant, Maximum Storage Capacity | bbl / d		2,953,725

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Feb. 22, 2019USD ($)	Nov. 08, 2018USD ($)	Aug. 14, 2018USD ($)	Jun. 14, 2018USD ($)	Jan. 13, 2017group	Jul. 01, 2016USD ($)	Mar. 01, 2011	Mar. 31, 2019USD ($)ppm	Dec. 31, 2010ppm	Dec. 31, 2018USD ($)
Loss Contingencies [Line Items]
Percent of tax benefit received from increases in tax basis paid to stockholders								85.00%
Class A Common Stock [Member] | PBF Energy [Member]
Loss Contingencies [Line Items]
Percentage of ownership in PBF LLC								99.00%		99.00%
Toledo Refining Company LLC [Member]
Loss Contingencies [Line Items]
Gain (Loss) Related to Litigation Settlement								$ 0.4
Environmental Issue [Member]
Loss Contingencies [Line Items]
Environmental liability								$ 11.7		$ 11
Discount rate used for environmental liability assessment								8.00%
Loss Contingency, Number Of Environmental Groups Appealing Permits | group					2
Maximum amount of sulfur allowed in heating oil (in ppm) | ppm								10
Public Utilities, Description of Specific Regulatory Liabilities								80
Environmental Issue [Member] | New York [Member]
Loss Contingencies [Line Items]
Maximum amount of sulfur allowed in heating oil (in ppm) | ppm									15
Environmental Issue [Member] | PENNSYLVANIA
Loss Contingencies [Line Items]
Maximum amount of sulfur allowed in heating oil (in ppm) | ppm									500
Environmental Issue [Member] | PBF Energy and Valero [Member]
Loss Contingencies [Line Items]
Term of insurance policies								10 years
Environmental Issue [Member] | Sunoco, Inc. [Member]
Loss Contingencies [Line Items]
Loss Contingency Accrual, Insurance-Related Assessment, Expiration Of Liability Period							20 years
Environmental Issue [Member] | Torrance Refinery [Member]
Loss Contingencies [Line Items]
Environmental liability								$ 129.2		$ 130.8
Term of insurance policies						10 years
Chalmette Refinery [Member] | Environmental Issue [Member]
Loss Contingencies [Line Items]
Term of insurance policies								10 years
Environmental Costs Recognized, Recovery Credited to Expense								$ 3.9
Accrual For Environmental Loss Contingencies, Expected Payment Period								30 years
Environmental Insurance Policies Coverage								$ 100
Maximum [Member] | Environmental Issue [Member] | Valero [Member]
Loss Contingencies [Line Items]
Site Contingency, Loss Exposure Not Accrued, Best Estimate								20
Maximum [Member] | Environmental Issue [Member] | PBF Energy and Valero [Member]
Loss Contingencies [Line Items]
Site Contingency, Loss Exposure Not Accrued, Best Estimate								75
Maximum [Member] | Environmental Issue [Member] | Torrance Refinery [Member]
Loss Contingencies [Line Items]
Site Contingency, Loss Exposure Not Accrued, Best Estimate						$ 100
Pending Litigation [Member] | EPA and DTSC [Member] | Environmental Remediation Contingency [Domain]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				$ 0.2
Pending Litigation [Member] | SCAQMD [Member] | Environmental Issue [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 0.3		$ 0.5
Pending Litigation [Member] | SCAQMD [Member] | Environmental Remediation Contingency [Domain]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value								0.2
Pending Litigation [Member] | EPA [Member] | Environmental Issue [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value		$ 0.5
Other [Member] | Environmental Issue [Member] | Torrance Refinery [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value								$ 0.1

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 53.3
Operating Lease, Right-of-Use Asset	900.7	$ 853.9
Operating Lease, Liability, Current	154.2
Operating Lease, Liability, Noncurrent	$ 747
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	20 years
Hydrogen Supply [Member]
Lessee, Lease, Description [Line Items]
Lessee, Leases Not Yet Commenced, Liability	$ 212.6
Lease with Affiliate [Member]
Lessee, Lease, Description [Line Items]
Operating lease cost	27.1
Operating Lease, Right-of-Use Asset	655.6	$ 604.4	$ 0
Operating Lease, Liability, Current	73.3		0
Operating Lease, Liability, Noncurrent	$ 582.3		$ 0
Lease with Affiliate [Member] | Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	7 years
Lease with Affiliate [Member] | Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	15 years
Hydrogen Supply - Second Quarter 2020 [Member]
Lessee, Lease, Description [Line Items]
Lessee, Lease Not Yet Commenced, Term Of Contract	15 years

Leases - Lease Assets and Liabi

Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Lease Assets and Liabilities [Line Items]
Operating Lease, Right-of-Use Asset	$ 900.7	$ 853.9
Operating Lease, Liability, Current	154.2
Operating Lease, Liability, Noncurrent	747
Operating Lease, Liability	901.2	689.2
Third Party Lease [Member]
Lease Assets and Liabilities [Line Items]
Operating Lease, Right-of-Use Asset	245.1		$ 0
Operating Lease, Liability, Current	80.9		0
Operating Lease, Liability, Noncurrent	164.7		0
Lease with Affiliate [Member]
Lease Assets and Liabilities [Line Items]
Operating Lease, Right-of-Use Asset	655.6	604.4	0
Operating Lease, Liability, Current	73.3		0
Operating Lease, Liability, Noncurrent	$ 582.3		$ 0
Operating Lease, Liability		$ 604.4

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 53.3
Short-term lease cost	23.3
Variable lease cost	10.1
Total lease cost	$ 86.7

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Supplemental Cash Flow and Other Information [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	7 years 26 days
Operating Lease, Payments	$ 35.4
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 936.6	$ 0
Operating Lease, Weighted Average Discount Rate, Percent	8.33%
Adjustments for New Accounting Pronouncement [Member]
Supplemental Cash Flow and Other Information [Line Items]
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 82.7

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2019	Jan. 01, 2019
Leases [Abstract]
2019	$ 218.7
2020	193
2021	155.2
2022	142.6
2023	135.9
Thereafter	369.8
Total minimum lease payments	1,215.2
Less: effect of discounting	314
Present value of future minimum lease payments	901.2	$ 689.2
Less: current obligations under leases	154.2
Long-term lease obligations	$ 747

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 10,900	$ 11,800
Interest cost	2,100	1,400
Expected return on plan assets	(2,400)	(2,100)
Amortization of prior service cost and actuarial loss	100	100
Net periodic benefit cost	10,700	11,200
Post Retirement Medical Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	200	300
Interest cost	200	100
Amortization of prior service cost and actuarial loss	100	200
Net periodic benefit cost	$ 500	$ 600

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Revenues	$ 5,208.7	$ 5,799.6
Deferred revenue	63.6		$ 17.1
Gasoline And Distillate [Member]
Revenues	4,433	4,994.3
Other Refining and Marketing [Member]
Revenues	200.7	238.7
Asphalt and Residual Oil [Member]
Revenues	353	308.9
Chemicals [Member]
Revenues	151.7	176.1
Lubricants [Member]
Revenues	$ 70.3	$ 81.6

INCOME TAXES Income Taxes (Deta

INCOME TAXES Income Taxes (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2015subsidiary
Income Taxes [Line Items]
Number Of Subsidiaries Acquired | subsidiary			2
Current income tax expense	$ 0	$ 0
Deferred income tax benefit	(7.2)	(0.7)
Total income tax benefit	$ (7.2)	$ (0.7)

FAIR VALUE MEASUREMENTS (Measur

FAIR VALUE MEASUREMENTS (Measured on Recurring Basis) (Details) - USD ($)		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current debt	[1]	$ 2,500,000		$ 2,400,000
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3		0	$ 0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Defined Benefit Plan, Plan Assets, Amount		9,800,000		9,700,000
Fair Value, Measurements, Recurring [Member] | Catalyst lease [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Collateral, Right to Reclaim Cash		0		0
Catalyst lease obligations		47,400,000		44,300,000
Fair Value, Measurements, Recurring [Member] | Catalyst lease [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Catalyst lease obligations		0		0
Fair Value, Measurements, Recurring [Member] | Catalyst lease [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Catalyst lease obligations		47,400,000		44,300,000
Fair Value, Measurements, Recurring [Member] | Catalyst lease [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Catalyst lease obligations		0		0
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Fair Value, Amount Not Offset Against Collateral		5,300,000		2,900,000
Derivative, Collateral, Right to Reclaim Cash		(5,300,000)		(2,900,000)
Derivative Liability		0		0
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Fair Value, Amount Not Offset Against Collateral		5,000,000
Derivative Liability				2,700,000
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Fair Value, Amount Not Offset Against Collateral		300,000
Derivative Liability				200,000
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability, Fair Value, Amount Not Offset Against Collateral		0
Derivative Liability				0
Fair Value, Measurements, Recurring [Member] | Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		2,900,000		2,800,000
Fair Value, Measurements, Recurring [Member] | Money market funds [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		2,900,000		2,800,000
Fair Value, Measurements, Recurring [Member] | Money market funds [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		0		0
Fair Value, Measurements, Recurring [Member] | Money market funds [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		0		0
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral		15,200,000		10,100,000
Derivative assets, Effect of Counter-party Netting		(5,300,000)		(2,900,000)
Derivative assets, Net Carrying Value on Balance Sheet		9,900,000		7,200,000
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral		3,500,000		1,200,000
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral		11,700,000		8,900,000
Fair Value, Measurements, Recurring [Member] | Commodity contract [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral		0
Derivative assets, Net Carrying Value on Balance Sheet				0
Fair Value, Measurements, Recurring [Member] | Derivatives included with intermediation agreement obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral		9,800,000		24,100,000
Derivative assets, Effect of Counter-party Netting		0		0
Derivative assets, Net Carrying Value on Balance Sheet		9,800,000		24,100,000
Fair Value, Measurements, Recurring [Member] | Derivatives included with intermediation agreement obligations [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral		0		0
Fair Value, Measurements, Recurring [Member] | Derivatives included with intermediation agreement obligations [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral		9,800,000		24,100,000
Fair Value, Measurements, Recurring [Member] | Derivatives included with intermediation agreement obligations [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Amount Not Offset Against Collateral		$ 0		$ 0
[1]	Catalyst leases are valued using a market approach based upon commodity prices for similar instruments quoted in active markets and are categorized as a Level 2 measurement. The Company has elected the fair value option for accounting for its catalyst lease repurchase obligations as the Company’s liability is directly impacted by the change in fair value of the underlying catalyst. During 2018, Toledo Refining and Chalmette Refining entered into two platinum bridge leases which were settled in April 2019 and Delaware City Refining entered into a new platinum bridge lease, which will expire in the second quarter of 2019. These leases are payable at maturity and are not anticipated to be renewed. The total outstanding balance related to these bridge leases as of March 31, 2019 and December 31, 2018 was $2.5 million and $2.4 million, respectively, and is included in Current debt in the Company’s Condensed Consolidated Balance Sheets.

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value and Carrying Value of Debt) (Details) $ in Millions		12 Months Ended
		Dec. 31, 2018USD ($)lease	Mar. 31, 2019USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Fair value		$ 1,233.7	$ 1,578.7
Long-term Debt, Gross		1,290.9	1,542.2
Current portion of long-term debt	[1]	(2.4)	(2.5)
Long-Term Debt And Capital Lease Obligations, Current, Fair Value Disclosure	[1]	(2.4)	(2.5)
Unamortized Debt Issuance Expense		$ (30.5)	(29)
Number Of Platinum Leases Entered Into During Period | lease		2
Long-term debt		$ 1,258	1,510.7
Long-term debt, excluding current maturities, Fair value		1,231.3	1,576.2
2023 Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Carrying value	[2]	500	500
Long-term debt, Fair value	[2]	479.4	515.6
2025 Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Carrying value	[2]	725	725
Long-term debt, Fair value	[2]	688.4	745.9
Catalyst lease [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Carrying value	[1]	44.3
Long-term debt, Fair value	[1]	44.3	47.4
Revolving Credit Facility [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Lines of Credit, Fair Value Disclosure	[3]	0	250
Revolving Credit Facility [Member] | Line of Credit [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Line of Credit	[3]	0	250
PBF Rail Logistics Company LLC [Member] | Notes Payable to Banks [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Carrying value	[3]	21.6	19.8
Long-term debt, Fair value	[3]	$ 21.6	19.8
Catalyst lease [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Capital Lease Obligations [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, Carrying value	[1]		$ 47.4
2025 Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, interest rate			7.25%
2023 Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, interest rate			7.00%
[1]	Catalyst leases are valued using a market approach based upon commodity prices for similar instruments quoted in active markets and are categorized as a Level 2 measurement. The Company has elected the fair value option for accounting for its catalyst lease repurchase obligations as the Company’s liability is directly impacted by the change in fair value of the underlying catalyst. During 2018, Toledo Refining and Chalmette Refining entered into two platinum bridge leases which were settled in April 2019 and Delaware City Refining entered into a new platinum bridge lease, which will expire in the second quarter of 2019. These leases are payable at maturity and are not anticipated to be renewed. The total outstanding balance related to these bridge leases as of March 31, 2019 and December 31, 2018 was $2.5 million and $2.4 million, respectively, and is included in Current debt in the Company’s Condensed Consolidated Balance Sheets.
[2]	The estimated fair value, categorized as a Level 2 measurement, was calculated based on the present value of future expected payments utilizing implied current market interest rates based on quoted prices of the 7.00% senior notes due 2023 and the 7.25% senior notes due 2025 (collectively, the “Senior Notes”).
[3]	The estimated fair value approximates carrying value, categorized as a Level 2 measurement, as these borrowings bear interest based upon short-term floating market interest rates.

DERIVATIVES (Narrative) (Detail

DERIVATIVES (Narrative) (Details) - bbl	Mar. 31, 2019	Dec. 31, 2018
Crude Oil and Feedstock Inventory [Member] | Fair Value Hedging [Member]
Derivative [Line Items]
Derivative, notional amount, volume	754,419	0
Intermediates and Refined Products Inventory [Member] | Fair Value Hedging [Member]
Derivative [Line Items]
Derivative, notional amount, volume	3,232,956	3,350,166
Crude Oil Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, notional amount, volume	6,558,000	5,801,000
Refined Product Commodity Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, notional amount, volume	4,904,000	1,609,000

DERIVATIVES (Fair Value of Deri

DERIVATIVES (Fair Value of Derivative Instruments) (Details) - Accrued Expenses [Member] - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Designated as Hedging Instrument [Member] | Inventory Intermediation Agreement Obligation [Member]
Derivatives, Fair Value [Line Items]
Fair Value Asset/(Liability)	$ 9.8	$ 24.1
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Fair Value Asset/(Liability)	$ 9.9	$ 7.2

DERIVATIVES (Gain (Loss) Recogn

DERIVATIVES (Gain (Loss) Recognized in Income) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net	$ 0	$ 0
Inventory Intermediation Agreement Obligation [Member] | Designated as Hedging Instrument [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) Recognized in Income on Derivatives	(14,200,000)	(8,800,000)
Commodity Contract [Member] | Not Designated as Hedging Instrument [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) Recognized in Income on Derivatives	31,700,000	(13,300,000)
Intermediates and Refined Products Inventory [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Cost of Sales [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) Recognized in Income on Derivatives	$ 14,200,000	$ 8,800,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions	May 01, 2019	Apr. 24, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
PBF Energy [Member] | Class A Common Stock [Member]
Subsequent Event [Line Items]
Percentage of ownership in TVPC				99.00%	99.00%
Subsequent Event [Member] | PBF Logistics LP [Member] | Torrance Valley Pipeline Company LLC [Member]
Subsequent Event [Line Items]
Wholly Owned Subsidiary, Percentage of Ownership			100.00%
Subsequent Event [Member] | PBF Logistics LP [Member] | Torrance Valley Pipeline Company LLC [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Transferred		$ 200
Subsequent Event [Member] | PBF Energy [Member] | Class A Common Stock [Member]
Subsequent Event [Line Items]
Dividends declared per share	$ 0.3
Torrance Valley Pipeline Company LLC [Member]
Subsequent Event [Line Items]
Percentage of ownership in TVPC				50.00%

CONDENSED CONSOLIDATING FINAN_3

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDINGS (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019
PBF Services Company [Member]
Condensed Financial Statements, Captions [Line Items]
Percentage of ownership in subsidiaries	100.00%
Delaware City Refining Company LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Percentage of ownership in subsidiaries	100.00%
Delaware Pipeline Company LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Percentage of ownership in subsidiaries	100.00%
PBF Power Marketing LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Percentage of ownership in subsidiaries	100.00%
Paulsboro Refining Company LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Percentage of ownership in subsidiaries	100.00%
Paulsboro Natural Gas Pipeline Company LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Percentage of ownership in subsidiaries	100.00%
Toledo Refining Company LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Percentage of ownership in subsidiaries	100.00%
Investments LLC [Member]
Condensed Financial Statements, Captions [Line Items]
Percentage of ownership in subsidiaries	100.00%

CONDENSED CONSOLIDATING FINAN_4

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDINGS (Balance Sheet) (Details) - USD ($) $ in Millions		Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2017
Current assets:
Cash and cash equivalents		$ 384.6		$ 561.7	$ 315.8	$ 526.2	$ 315.8
Accounts receivable		863.4		710.7
Accounts receivable - affiliate		4.7		12
Inventories		2,564.8		1,864.1
Prepaid and other current assets		122.4		52.5
Due from related parties		0		0
Total current assets		3,939.9		3,201
Property, plant and equipment, net		3,014.3		2,971.2
Investment in subsidiaries		0		0
Investment in equity method investee		167.7		169.5
Operating Lease, Right-of-Use Asset		900.7	$ 853.9
Deferred charges and other assets, net		998.2		871.8
Total assets		9,020.8		7,213.5
Current liabilities:
Accounts payable		546		483.8
Accounts payable - affiliate		43.9		49.5
Accrued expenses		1,843.7		1,579
Operating Lease, Liability, Current		154.2
Current portion of long-term debt	[1]	2.5		2.4
Deferred revenue		63.6		17.1
Due to related parties		0		0
Total current liabilities		2,653.9		2,131.8
Long-term debt		1,510.7		1,258
Deferred tax liabilities		33.2		40.4
Operating Lease, Liability, Noncurrent		747
Investment in subsidiaries		0
Other long-term liabilities		251		253.5
Due to Related Parties, Noncurrent				0
Total liabilities		5,195.8		3,683.7
Commitments and contingencies
Equity:
Member’s equity		2,658.4		2,652.5
Retained earnings / (accumulated deficit)		1,179.4		890.3
Accumulated other comprehensive loss		(23.7)		(23.9)
Total PBF Holding Company LLC equity		3,814.1		3,518.9
Noncontrolling interest		10.9		10.9
Total equity		3,825		3,529.8	$ 3,219.7	3,183.9
Total liabilities and equity		9,020.8		7,213.5
Consolidation, Eliminations [Member]
Current assets:
Cash and cash equivalents		0		0		0	0
Accounts receivable		0		0
Accounts receivable - affiliate		0		0
Inventories		0		0
Prepaid and other current assets		0		0
Due from related parties		(70,641.6)		(68,384.6)
Total current assets		(70,641.6)		(68,384.6)
Property, plant and equipment, net		0		0
Investment in subsidiaries		(397)		(421.4)
Investment in equity method investee		0		0
Deferred charges and other assets, net		0		0
Total assets		(71,038.6)		(68,806)
Current liabilities:
Accounts payable		0		0
Accounts payable - affiliate		0		0
Accrued expenses		0		0
Current portion of long-term debt		0		0
Deferred revenue		0		0
Due to related parties		(70,641.6)		(68,384.6)
Total current liabilities		(70,641.6)		(68,384.6)
Long-term debt		0		0
Deferred tax liabilities		0		0
Investment in subsidiaries		(2,381.2)
Other long-term liabilities		0		0
Due to Related Parties, Noncurrent				(1,938.3)
Total liabilities		(73,022.8)		(70,322.9)
Commitments and contingencies
Equity:
Member’s equity		(2,060.3)		(2,060.9)
Retained earnings / (accumulated deficit)		4,047.9		3,581.2
Accumulated other comprehensive loss		7.5		7.5
Total PBF Holding Company LLC equity		1,995.1		1,527.8
Noncontrolling interest		(10.9)		(10.9)
Total equity		1,984.2		1,516.9
Total liabilities and equity		(71,038.6)		(68,806)
Issuer [Member]
Current assets:
Cash and cash equivalents		342.1		526		486.6	283.4
Accounts receivable		838.5		690.1
Accounts receivable - affiliate		1.4		1.8
Inventories		2,368.6		1,685.4
Prepaid and other current assets		63.5		20.7
Due from related parties		35,050.5		33,793.1
Total current assets		38,664.6		36,717.1
Property, plant and equipment, net		16.8		17.3
Investment in subsidiaries		0		0
Investment in equity method investee		0		0
Deferred charges and other assets, net		13.4		16
Total assets		39,465.8		36,750.4
Current liabilities:
Accounts payable		310.9		278.2
Accounts payable - affiliate		43.2		34.2
Accrued expenses		1,453.7		1,364
Current portion of long-term debt		0		0
Deferred revenue		62.1		15.6
Due to related parties		29,119.6		28,340.7
Total current liabilities		31,127.2		30,032.7
Long-term debt		1,446.2		1,194.7
Deferred tax liabilities		0		0
Investment in subsidiaries		2,381.2
Other long-term liabilities		53.1		54.9
Due to Related Parties, Noncurrent				1,938.3
Total liabilities		35,640.8		33,220.6
Commitments and contingencies
Equity:
Member’s equity		2,658.4		2,652.5
Retained earnings / (accumulated deficit)		1,179.4		890.3
Accumulated other comprehensive loss		(23.7)		(23.9)
Total PBF Holding Company LLC equity		3,814.1		3,518.9
Noncontrolling interest		10.9		10.9
Total equity		3,825		3,529.8
Total liabilities and equity		39,465.8		36,750.4
Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents		12.8		9.1		13.5	10.7
Accounts receivable		7		7.2
Accounts receivable - affiliate		2.6		9.5
Inventories		0		0
Prepaid and other current assets		57.2		30
Due from related parties		25,514.7		25,057.3
Total current assets		25,594.3		25,113.1
Property, plant and equipment, net		2,767.5		2,722.7
Investment in subsidiaries		397		421.4
Investment in equity method investee		0		0
Deferred charges and other assets, net		984.8		855.8
Total assets		29,873.3		29,113
Current liabilities:
Accounts payable		223		189.7
Accounts payable - affiliate		0.7		14.8
Accrued expenses		143.5		156.1
Current portion of long-term debt		2.5		2.4
Deferred revenue		1.5		1.5
Due to related parties		31,496.3		30,433.4
Total current liabilities		31,884		30,797.9
Long-term debt		44.9		42
Deferred tax liabilities		0		0
Investment in subsidiaries		0
Other long-term liabilities		194.8		194.5
Due to Related Parties, Noncurrent				0
Total liabilities		32,237.6		31,034.4
Commitments and contingencies
Equity:
Member’s equity		1,743.2		1,737.2
Retained earnings / (accumulated deficit)		(4,110.9)		(3,662)
Accumulated other comprehensive loss		(7.5)		(7.5)
Total PBF Holding Company LLC equity		(2,375.2)		(1,932.3)
Noncontrolling interest		10.9		10.9
Total equity		(2,364.3)		(1,921.4)
Total liabilities and equity		29,873.3		29,113
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents		29.7		26.6		$ 26.1	$ 21.7
Accounts receivable		17.9		13.4
Accounts receivable - affiliate		0.7		0.7
Inventories		196.2		178.7
Prepaid and other current assets		1.7		1.8
Due from related parties		10,076.4		9,534.2
Total current assets		10,322.6		9,755.4
Property, plant and equipment, net		230		231.2
Investment in subsidiaries		0		0
Investment in equity method investee		167.7		169.5
Deferred charges and other assets, net		0		0
Total assets		10,720.3		10,156.1
Current liabilities:
Accounts payable		12.1		15.9
Accounts payable - affiliate		0		0.5
Accrued expenses		246.5		58.9
Current portion of long-term debt		0		0
Deferred revenue		0		0
Due to related parties		10,025.7		9,610.5
Total current liabilities		10,284.3		9,685.8
Long-term debt		19.6		21.3
Deferred tax liabilities		33.2		40.4
Investment in subsidiaries		0
Other long-term liabilities		3.1		4.1
Due to Related Parties, Noncurrent				0
Total liabilities		10,340.2		9,751.6
Commitments and contingencies
Equity:
Member’s equity		317.1		323.7
Retained earnings / (accumulated deficit)		63		80.8
Accumulated other comprehensive loss		0		0
Total PBF Holding Company LLC equity		380.1		404.5
Noncontrolling interest		0		0
Total equity		380.1		404.5
Total liabilities and equity		10,720.3		10,156.1
Third Party Lease [Member]
Current assets:
Operating Lease, Right-of-Use Asset		245.1		0
Current liabilities:
Operating Lease, Liability, Current		80.9		0
Operating Lease, Liability, Noncurrent		164.7		0
Third Party Lease [Member] | Consolidation, Eliminations [Member]
Current assets:
Operating Lease, Right-of-Use Asset		0
Current liabilities:
Operating Lease, Liability, Current		0
Operating Lease, Liability, Noncurrent		0
Third Party Lease [Member] | Issuer [Member]
Current assets:
Operating Lease, Right-of-Use Asset		181.1
Current liabilities:
Operating Lease, Liability, Current		67.1
Operating Lease, Liability, Noncurrent		113.9
Third Party Lease [Member] | Guarantor Subsidiaries [Member]
Current assets:
Operating Lease, Right-of-Use Asset		64
Current liabilities:
Operating Lease, Liability, Current		13.8
Operating Lease, Liability, Noncurrent		50.8
Third Party Lease [Member] | Non-Guarantor Subsidiaries [Member]
Current assets:
Operating Lease, Right-of-Use Asset		0
Current liabilities:
Operating Lease, Liability, Current		0
Operating Lease, Liability, Noncurrent		0
Lease with Affiliate [Member]
Current assets:
Operating Lease, Right-of-Use Asset		655.6	$ 604.4	0
Current liabilities:
Operating Lease, Liability, Current		73.3		0
Operating Lease, Liability, Noncurrent		582.3		$ 0
Lease with Affiliate [Member] | Consolidation, Eliminations [Member]
Current assets:
Operating Lease, Right-of-Use Asset		0
Current liabilities:
Operating Lease, Liability, Current		0
Operating Lease, Liability, Noncurrent		0
Lease with Affiliate [Member] | Issuer [Member]
Current assets:
Operating Lease, Right-of-Use Asset		589.9
Current liabilities:
Operating Lease, Liability, Current		70.6
Operating Lease, Liability, Noncurrent		519.2
Lease with Affiliate [Member] | Guarantor Subsidiaries [Member]
Current assets:
Operating Lease, Right-of-Use Asset		65.7
Current liabilities:
Operating Lease, Liability, Current		2.7
Operating Lease, Liability, Noncurrent		63.1
Lease with Affiliate [Member] | Non-Guarantor Subsidiaries [Member]
Current assets:
Operating Lease, Right-of-Use Asset		0
Current liabilities:
Operating Lease, Liability, Current		0
Operating Lease, Liability, Noncurrent		$ 0
[1]	Catalyst leases are valued using a market approach based upon commodity prices for similar instruments quoted in active markets and are categorized as a Level 2 measurement. The Company has elected the fair value option for accounting for its catalyst lease repurchase obligations as the Company’s liability is directly impacted by the change in fair value of the underlying catalyst. During 2018, Toledo Refining and Chalmette Refining entered into two platinum bridge leases which were settled in April 2019 and Delaware City Refining entered into a new platinum bridge lease, which will expire in the second quarter of 2019. These leases are payable at maturity and are not anticipated to be renewed. The total outstanding balance related to these bridge leases as of March 31, 2019 and December 31, 2018 was $2.5 million and $2.4 million, respectively, and is included in Current debt in the Company’s Condensed Consolidated Balance Sheets.

CONDENSED CONSOLIDATING FINAN_5

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDINGS (Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 5,208.7	$ 5,799.6
Cost and expenses:
Cost of products and other	4,276.2	5,189.6
Operating expenses (excluding depreciation and amortization expense as reflected below)	453.4	411.4
Depreciation and amortization expense	94.3	76.8
Cost of sales	4,823.9	5,677.8
General and administrative expenses (excluding depreciation and amortization expense as reflected below)	51.2	58.3
Depreciation and amortization expense	2.8	2.7
Equity income in investee	(4.7)	(4)
Gain on sale of asset	0	0.1
Total cost and expenses	4,873.2	5,734.9
Income from operations	335.5	64.7
Other income (expense):
Equity in earnings of subsidiaries	0	0
Change in fair value of catalyst leases	(3.1)	0
Interest expense, net	(27.4)	(33.3)
Other non-service component of net periodic benefit costs	(0.1)	0.3
Income before income taxes	304.9	31.7
Income tax benefit	(7.2)	(0.7)
Net income	312.1	32.4
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to PBF Holding Company LLC	312.1	32.4
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	312.3	32.7
Debt extinguishment costs		0
Guarantor Subsidiaries [Member]
Revenues	850.3	711.7
Cost and expenses:
Cost of products and other	730.6	604.3
Operating expenses (excluding depreciation and amortization expense as reflected below)	446.1	405
Depreciation and amortization expense	92.4	74.9
Cost of sales	1,269.1	1,084.2
General and administrative expenses (excluding depreciation and amortization expense as reflected below)	8.6	6
Depreciation and amortization expense	0	0
Equity income in investee	0	0
Gain on sale of asset		0.1
Total cost and expenses	1,277.7	1,090.3
Income from operations	(427.4)	(378.6)
Other income (expense):
Equity in earnings of subsidiaries	(17.8)	0.9
Change in fair value of catalyst leases	(3.1)
Interest expense, net	(0.4)	(0.4)
Other non-service component of net periodic benefit costs	0.1	0.4
Income before income taxes	(448.6)	(377.7)
Income tax benefit	0	0
Net income	(448.6)	(377.7)
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to PBF Holding Company LLC	(448.6)	(377.7)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(448.6)	(377.7)
Debt extinguishment costs		0
Non-Guarantor Subsidiaries [Member]
Revenues	604.7	685.6
Cost and expenses:
Cost of products and other	625.7	679.6
Operating expenses (excluding depreciation and amortization expense as reflected below)	7.3	6.4
Depreciation and amortization expense	1.9	1.9
Cost of sales	634.9	687.9
General and administrative expenses (excluding depreciation and amortization expense as reflected below)	(0.7)	1.3
Depreciation and amortization expense	0	0
Equity income in investee	(4.7)	(4)
Gain on sale of asset		0
Total cost and expenses	629.5	685.2
Income from operations	(24.8)	0.4
Other income (expense):
Equity in earnings of subsidiaries	0	0
Change in fair value of catalyst leases	0
Interest expense, net	(0.2)	(0.2)
Other non-service component of net periodic benefit costs	0	0
Income before income taxes	(25)	0.2
Income tax benefit	(7.2)	(0.7)
Net income	(17.8)	0.9
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to PBF Holding Company LLC	(17.8)	0.9
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(17.8)	0.9
Debt extinguishment costs		0
Issuer [Member]
Revenues	5,188.9	5,734.7
Cost and expenses:
Cost of products and other	4,355.1	5,238.1
Operating expenses (excluding depreciation and amortization expense as reflected below)	0	0
Depreciation and amortization expense	0	0
Cost of sales	4,355.1	5,238.1
General and administrative expenses (excluding depreciation and amortization expense as reflected below)	43.3	51
Depreciation and amortization expense	2.8	2.7
Equity income in investee	0	0
Gain on sale of asset		0
Total cost and expenses	4,401.2	5,291.8
Income from operations	787.7	442.9
Other income (expense):
Equity in earnings of subsidiaries	(448.6)	(377.7)
Change in fair value of catalyst leases	0
Interest expense, net	(26.8)	(32.7)
Other non-service component of net periodic benefit costs	(0.2)	(0.1)
Income before income taxes	312.1	32.4
Income tax benefit	0	0
Net income	312.1	32.4
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to PBF Holding Company LLC	312.1	32.4
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	312.3	32.7
Debt extinguishment costs		0
Consolidation, Eliminations [Member]
Revenues	(1,435.2)	(1,332.4)
Cost and expenses:
Cost of products and other	(1,435.2)	(1,332.4)
Operating expenses (excluding depreciation and amortization expense as reflected below)	0	0
Depreciation and amortization expense	0	0
Cost of sales	(1,435.2)	(1,332.4)
General and administrative expenses (excluding depreciation and amortization expense as reflected below)	0	0
Depreciation and amortization expense	0	0
Equity income in investee	0	0
Gain on sale of asset		0
Total cost and expenses	(1,435.2)	(1,332.4)
Income from operations	0	0
Other income (expense):
Equity in earnings of subsidiaries	466.4	376.8
Change in fair value of catalyst leases	0
Interest expense, net	0	0
Other non-service component of net periodic benefit costs	0	0
Income before income taxes	466.4	376.8
Income tax benefit	0	0
Net income	466.4	376.8
Less: net income attributable to noncontrolling interests	0	0
Net income attributable to PBF Holding Company LLC	466.4	376.8
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 466.4	376.8
Debt extinguishment costs		$ 0

CONDENSED CONSOLIDATING FINAN_6

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDINGS (Statement of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 312,100	$ 32,400
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	98,700	81,100
Stock-based compensation	7,100	4,300
Change in fair value of catalyst leases	3,100	0
Deferred income taxes	(7,200)	(700)
Non-cash lower of cost or market inventory adjustment	(506,000)	(87,700)
Non-cash change in inventory repurchase obligations	14,200	8,800
Debt extinguishment costs		0
Pension and other post-retirement benefit costs	11,200	11,800
Equity income in investee	(4,700)	(4,000)
Distributions from equity method investee	4,700	4,000
Loss on sale of assets	0	100
Equity in earnings of subsidiaries	0	0
Changes in operating assets and liabilities:
Accounts receivable	(152,700)	121,400
Due to/from affiliates	10,300	(5,400)
Inventories	(194,700)	(278,300)
Prepaid and other current assets	(70,000)	(36,200)
Accounts payable	40,600	32,200
Accrued expenses	213,300	(22,900)
Deferred revenue	46,500	(2,000)
Other assets and liabilities	(11,500)	(6,000)
Net cash provided by operating activities	(185,000)	(147,100)
Cash flows from investing activities:
Expenditures for property, plant and equipment	(94,200)	(21,000)
Expenditures for deferred turnaround costs	(133,000)	(58,800)
Expenditures for other assets	(22,200)	(9,500)
Equity method investment - return of capital	1,800	1,000
Due to/from affiliates		0
Net cash used in investing activities	(247,600)	(88,300)
Cash flows from financing activities:
Repayments of Related Party Debt		1,200
Distribution to members	(23,000)	0
Repayments of Long-term Debt	(1,700)
Proceeds from revolver borrowings	575,000	0
Repayments of revolver borrowings	(325,000)	0
Due to/from affiliates		0
Proceeds from insurance premium financing	30,200	27,900
Net cash provided by financing activities	255,500	25,000
Net decrease in cash and cash equivalents	(177,100)	(210,400)
Cash and equivalents, beginning of period	561,700	526,200
Cash and equivalents, end of period	384,600	315,800
Rail Facility [Member]
Cash flows from financing activities:
Repayments of Long-term Debt		(1,700)
Issuer [Member]
Cash flows from operating activities:
Net income	312,100	32,400
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	4,400	4,300
Stock-based compensation	300	0
Change in fair value of catalyst leases	0
Deferred income taxes	0	0
Non-cash lower of cost or market inventory adjustment	(506,000)	(87,700)
Non-cash change in inventory repurchase obligations	14,200	8,800
Debt extinguishment costs		0
Pension and other post-retirement benefit costs	2,000	1,600
Equity income in investee	0	0
Distributions from equity method investee	0	0
Loss on sale of assets		0
Equity in earnings of subsidiaries	448,600	377,700
Changes in operating assets and liabilities:
Accounts receivable	(148,400)	116,300
Due to/from affiliates	(482,300)	(522,300)
Inventories	(177,200)	(247,400)
Prepaid and other current assets	(42,900)	(6,900)
Accounts payable	32,700	69,400
Accrued expenses	85,700	55,400
Deferred revenue	46,500	(2,000)
Other assets and liabilities	(1,400)	500
Net cash provided by operating activities	(411,700)	(199,900)
Cash flows from investing activities:
Expenditures for property, plant and equipment	(2,200)	(1,000)
Expenditures for deferred turnaround costs	0	0
Expenditures for other assets	0	0
Equity method investment - return of capital	0	0
Due to/from affiliates		(4,300)
Net cash used in investing activities	(2,200)	(5,300)
Cash flows from financing activities:
Repayments of Related Party Debt		0
Distribution to members	(22,800)
Repayments of Long-term Debt	0
Proceeds from revolver borrowings	575,000
Repayments of revolver borrowings	(325,000)
Due to/from affiliates		0
Proceeds from insurance premium financing	2,800	2,000
Net cash provided by financing activities	230,000	2,000
Net decrease in cash and cash equivalents	(183,900)	(203,200)
Cash and equivalents, beginning of period	526,000	486,600
Cash and equivalents, end of period	342,100
Issuer [Member] | Rail Facility [Member]
Cash flows from financing activities:
Repayments of Long-term Debt		0
Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income	(448,600)	(377,700)
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	92,400	74,900
Stock-based compensation	6,800	4,300
Change in fair value of catalyst leases	3,100
Deferred income taxes	0	0
Non-cash lower of cost or market inventory adjustment	0	0
Non-cash change in inventory repurchase obligations	0	0
Debt extinguishment costs		0
Pension and other post-retirement benefit costs	9,200	10,200
Equity income in investee	0	0
Distributions from equity method investee	0	0
Loss on sale of assets		100
Equity in earnings of subsidiaries	17,800	(900)
Changes in operating assets and liabilities:
Accounts receivable	300	700
Due to/from affiliates	619,900	453,000
Inventories	0	0
Prepaid and other current assets	(27,200)	(29,600)
Accounts payable	11,700	(31,400)
Accrued expenses	(60,300)	(45,800)
Deferred revenue	0	0
Other assets and liabilities	(2,500)	(1,600)
Net cash provided by operating activities	222,600	56,200
Cash flows from investing activities:
Expenditures for property, plant and equipment	(90,900)	(19,700)
Expenditures for deferred turnaround costs	(133,000)	(58,800)
Expenditures for other assets	(22,200)	(9,500)
Equity method investment - return of capital	0	0
Due to/from affiliates		0
Net cash used in investing activities	(246,100)	(88,000)
Cash flows from financing activities:
Repayments of Related Party Debt		1,200
Distribution to members	(200)
Repayments of Long-term Debt	0
Proceeds from revolver borrowings	0
Repayments of revolver borrowings	0
Due to/from affiliates		4,300
Proceeds from insurance premium financing	27,400	25,900
Net cash provided by financing activities	27,200	29,000
Net decrease in cash and cash equivalents	3,700	(2,800)
Cash and equivalents, beginning of period	9,100	13,500
Cash and equivalents, end of period	12,800
Guarantor Subsidiaries [Member] | Rail Facility [Member]
Cash flows from financing activities:
Repayments of Long-term Debt		0
Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net income	(17,800)	900
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	1,900	1,900
Stock-based compensation	0	0
Change in fair value of catalyst leases	0
Deferred income taxes	(7,200)	(700)
Non-cash lower of cost or market inventory adjustment	0	0
Non-cash change in inventory repurchase obligations	0	0
Debt extinguishment costs		0
Pension and other post-retirement benefit costs	0	0
Equity income in investee	(4,700)	(4,000)
Distributions from equity method investee	4,700	4,000
Loss on sale of assets		0
Equity in earnings of subsidiaries	0	0
Changes in operating assets and liabilities:
Accounts receivable	(4,600)	4,400
Due to/from affiliates	(127,300)	63,900
Inventories	(17,500)	(30,900)
Prepaid and other current assets	100	300
Accounts payable	(3,800)	(5,800)
Accrued expenses	187,900	(32,500)
Deferred revenue	0	0
Other assets and liabilities	(7,600)	(4,900)
Net cash provided by operating activities	4,100	(3,400)
Cash flows from investing activities:
Expenditures for property, plant and equipment	(1,100)	(300)
Expenditures for deferred turnaround costs	0	0
Expenditures for other assets	0	0
Equity method investment - return of capital	1,800	1,000
Due to/from affiliates		0
Net cash used in investing activities	700	700
Cash flows from financing activities:
Repayments of Related Party Debt		0
Distribution to members	0
Repayments of Long-term Debt	(1,700)
Proceeds from revolver borrowings	0
Repayments of revolver borrowings	0
Due to/from affiliates		0
Proceeds from insurance premium financing	0	0
Net cash provided by financing activities	(1,700)	(1,700)
Net decrease in cash and cash equivalents	3,100	(4,400)
Cash and equivalents, beginning of period	26,600	26,100
Cash and equivalents, end of period	29,700
Non-Guarantor Subsidiaries [Member] | Rail Facility [Member]
Cash flows from financing activities:
Repayments of Long-term Debt		(1,700)
Consolidation, Eliminations [Member]
Cash flows from operating activities:
Net income	466,400	376,800
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization	0	0
Stock-based compensation	0	0
Change in fair value of catalyst leases	0
Deferred income taxes	0	0
Non-cash lower of cost or market inventory adjustment	0	0
Non-cash change in inventory repurchase obligations	0	0
Debt extinguishment costs		0
Pension and other post-retirement benefit costs	0	0
Equity income in investee	0	0
Distributions from equity method investee	0	0
Loss on sale of assets		0
Equity in earnings of subsidiaries	(466,400)	(376,800)
Changes in operating assets and liabilities:
Accounts receivable	0	0
Due to/from affiliates	0	0
Inventories	0	0
Prepaid and other current assets	0	0
Accounts payable	0	0
Accrued expenses	0	0
Deferred revenue	0	0
Other assets and liabilities	0	0
Net cash provided by operating activities	0	0
Cash flows from investing activities:
Expenditures for property, plant and equipment	0	0
Expenditures for deferred turnaround costs	0	0
Expenditures for other assets	0	0
Equity method investment - return of capital	0	0
Due to/from affiliates		4,300
Net cash used in investing activities	0	4,300
Cash flows from financing activities:
Repayments of Related Party Debt		0
Distribution to members	0
Repayments of Long-term Debt	0
Proceeds from revolver borrowings	0
Repayments of revolver borrowings	0
Due to/from affiliates		(4,300)
Proceeds from insurance premium financing	0	0
Net cash provided by financing activities	0	(4,300)
Net decrease in cash and cash equivalents	0	0
Cash and equivalents, beginning of period	0	0
Cash and equivalents, end of period	$ 0
Consolidation, Eliminations [Member] | Rail Facility [Member]
Cash flows from financing activities:
Repayments of Long-term Debt		$ 0