PBF Logistics (PBFX) 10-Q 15 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 12, 2020
Cover [Abstract]
Entity Registrant Name	PBF LOGISTICS LP
Entity Central Index Key	0001582568
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Smaller Reporting Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Common Units, Units Outstanding (in shares)		62,348,176

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Cash Distribution On May 15, 2020, PBF GP’s board of directors announced a cash distribution, based on the results of the first quarter of 2020, of $0.30 per unit. The distribution is payable on June 17, 2020 to PBFX unitholders of record at the close of business on May 27, 2020.

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 116,023	$ 34,966
Accounts receivable - affiliates	87,111	48,056
Accounts receivable	7,213	7,351
Prepaids and other current assets	5,561	3,828
Total current assets	215,908	94,201
Property, plant and equipment, net	850,015	854,610
Goodwill	6,332	6,332
Other non-current assets	16,488	17,859
Total assets	1,088,743	973,002
Current liabilities:
Accounts payable - affiliates	13,488	6,454
Accounts payable	8,687	10,224
Accrued liabilities	34,392	27,839
Deferred revenue	2,776	3,189
Total current liabilities	59,343	47,706
Long-term debt	902,543	802,104
Other long-term liabilities	18,368	18,109
Total liabilities	980,254	867,919
Commitments and contingencies (Note 10)
Equity:
Total PBF Logistics LP equity	108,489	105,083
Total equity	108,489	105,083
Total liabilities and equity	$ 1,088,743	$ 973,002

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - Common Units [Member] - shares	Mar. 31, 2020	Dec. 31, 2019
Common units issued	62,151,391	62,130,035
Common units outstanding	62,151,391	62,130,035

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue:
Affiliate	$ 75,543	$ 71,332
Third-party	17,486	7,513
Total revenue	93,029	78,845
Costs and expenses:
Operating and maintenance expenses	29,501	29,916
General and administrative expenses	4,387	6,010
Depreciation and amortization	11,282	8,721
Change in contingent consideration	206	0
Total costs and expenses	45,376	44,647
Income from operations	47,653	34,198
Other expense:
Interest expense, net	(11,849)	(10,913)
Amortization of loan fees and debt premium	(439)	(449)
Accretion on discounted liabilities	(552)	(760)
Net income	34,813	22,076
Less: Net income attributable to noncontrolling interest	0	4,719
Net income attributable to PBF Logistics LP unitholders	$ 34,813	$ 17,357
Common Units [Member]
Net income per limited partner unit:
Common - basic (in dollars per share)	$ 0.56	$ 0.35
Common - diluted (in dollars per share)	$ 0.56	$ 0.35
Weighted-average limited partner units outstanding:
Common - basic (in shares)	62,370,927	49,151,927
Common - diluted (in shares)	62,473,094	49,318,133

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 34,813	$ 22,076
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	11,282	8,721
Amortization of loan fees and debt premium	439	449
Accretion on discounted liabilities	552	760
Unit-based compensation expense	1,302	964
Change in contingent consideration	206	0
Changes in operating assets and liabilities:
Accounts receivable - affiliates	(39,055)	(6,879)
Accounts receivable	174	2,354
Prepaids and other current assets	(1,733)	(12)
Accounts payable - affiliates	7,034	(3,385)
Accounts payable	(1,537)	5,361
Accrued liabilities	6,689	7,941
Deferred revenue	(413)	(65)
Other assets and liabilities	(1,106)	(76)
Net cash provided by operating activities	18,647	38,209
Cash flows from investing activities:
Expenditures for property, plant and equipment	(6,080)	(11,220)
Net cash used in investing activities	(6,080)	(11,220)
Cash flows from financing activities:
Distributions to unitholders	(32,308)	(27,951)
Distributions to TVPC members	0	(6,500)
Proceeds from revolving credit facility	100,000	16,000
Repayment of revolving credit facility	0	(12,000)
Deferred financing costs and other	798	0
Net cash provided by (used in) financing activities	68,490	(30,451)
Net change in cash and cash equivalents	81,057	(3,462)
Cash and cash equivalents, beginning of period	34,966	19,908
Cash and cash equivalents, end of period	116,023	16,446
Supplemental disclosure of non-cash investing and financing activities:
Accrued capital expenditures	473	1,247
Contribution of net assets from PBF LLC	0	259
Assets acquired under operating leases	0	482
IDR Restructuring [Member]
Supplemental disclosure of non-cash investing and financing activities:
Units issued in connection with the IDR Restructuring	$ 0	$ 215,300

DESCRIPTION OF THE BUSINESS AND

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION PBF Logistics LP (“PBFX” or the “Partnership”) is a Delaware master limited partnership formed in February 2013. PBF Logistics GP LLC (“PBF GP” or “our general partner”) serves as the general partner of PBFX. PBF GP is wholly-owned by PBF Energy Company LLC (“PBF LLC”). PBF Energy Inc. (“PBF Energy”) is the sole managing member of PBF LLC and, as of March 31, 2020, owned 99.2% of the total economic interest in PBF LLC. In addition, PBF LLC is the sole managing member of PBF Holding Company LLC (“PBF Holding”), a Delaware limited liability company and affiliate of PBFX. PBF LLC owns 29,953,631 PBFX common units constituting an aggregate of 48.2% limited partner interest in PBFX, with the remaining 51.8% limited partner interest owned by public unitholders as of March 31, 2020. PBFX engages in the processing of crude oil and the receiving, handling, storage and transferring of crude oil, refined products, natural gas and intermediates. The Partnership does not take ownership of or receive any payments based on the value of the crude oil, products, natural gas or intermediates that it handles and does not engage in the trading of any commodities. PBFX’s assets are integral to the operations of PBF Holding’s refineries, and, as a result, the Partnership continues to generate a substantial majority of its revenue from transactions with PBF Holding. Additionally, certain of PBFX’s assets generate revenue from third-party transactions. Principles of Combination and Consolidation and Basis of Presentation In connection with, and subsequent to, PBFX’s initial public offering (“IPO”), the Partnership has acquired certain assets from PBF LLC (collectively referred to as the “Contributed Assets”). Such acquisitions completed subsequent to the IPO were made through a series of dropdown transactions with PBF LLC (collectively referred to as the “Acquisitions from PBF”). The assets, liabilities and results of operations of the Contributed Assets prior to their acquisition by PBFX are collectively referred to as the “Predecessor.” The transactions through which PBFX acquired the Contributed Assets were transfers of assets between entities under common control. The accompanying condensed consolidated financial statements and related notes present solely the consolidated financial position and consolidated financial results of PBFX. Refer to (i) the Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Form 10-K”) for additional information regarding the Acquisitions from PBF and the agreements that were entered into or amended with related parties in connection with these acquisitions. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information. Accordingly, these unaudited condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, PBFX has included all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position, results of operations and cash flows of PBFX for the periods presented. The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the full year. The Predecessor generally did not operate its respective assets for the purpose of generating revenue independent of other PBF Energy businesses prior to the IPO or the effective dates of the Acquisitions from PBF. All intercompany accounts and transactions have been eliminated. Summary of Significant Accounting Policies Reclassifications Certain amounts previously reported in the Partnership’s condensed consolidated financial statements for prior periods have been reclassified to conform to the current presentation within this Quarterly Report on Form 10-Q (this “Form 10-Q”). These reclassifications include the separation of “Accounts payable” and “Accrued liabilities” into two line items within the Partnership’s condensed consolidated statements of cash flows. Additionally, certain amounts previously reported in the “Assets Under Leases” table within the “Revenue” footnote to the Partnership’s financial statements for prior periods have been reclassified to conform to the current presentation within this Form 10-Q. Recently Adopted Accounting Guidance In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments—Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). This guidance amends the guidance on measuring credit losses on financial assets held at amortized cost. ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Partnership has adopted ASU 2016-13 effective January 1, 2020. The adoption of ASU 2016-13 did not have a material impact on the Partnership’s condensed consolidated financial statements. Refer to Note 4 “Current Expected Credit Losses” of the Notes to Condensed Consolidated Financial Statements for further disclosure related to the adoption of this pronouncement. Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The amendments in this ASU provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this ASU are elective and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference London Interbank Offering Rate, also known as LIBOR, or another reference rate expected to be discontinued because of reference rate reform. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. The Partnership is currently evaluating the impact of this new standard on its consolidated financial statements and related disclosures.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2020
Revenues [Abstract]
REVENUE	2. REVENUE Revenue Recognition Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration the Partnership expects to be entitled to in exchange for those goods or services. As noted in Note 12 “Segment Information” of the Notes to Condensed Consolidated Financial Statements, the Partnership’s business consists of two reportable segments: (i) Transportation and Terminaling and (ii) Storage. The following table provides information relating to the Partnership’s revenue for each service category by segment for the periods presented: Three Months Ended 2020 2019 Transportation and Terminaling Segment Terminaling $ 37,927 $ 32,353 Pipeline 20,430 18,627 Other 11,886 14,979 Total 70,243 65,959 Storage Segment Storage 14,561 12,886 Other 8,225 — Total 22,786 12,886 Total Revenue $ 93,029 $ 78,845 PBFX recognizes revenue by charging fees for crude oil and refined products terminaling, pipeline, storage and processing services based on contractual rates applied to the greater of contractual minimum volume commitments (“MVCs”), as applicable, or actual volumes transferred, stored or processed. Minimum Volume Commitments Transportation and Terminaling Segment The Partnership’s Transportation and Terminaling segment consists of product terminals, pipelines, crude unloading facilities and other facilities capable of transporting and handling crude oil, refined products and natural gas. Certain of the Transportation and Terminaling commercial agreements contain MVCs. Under these commercial agreements, if the Partnership’s customer fails to transport its minimum throughput volumes during any specified period, the customer will pay the Partnership a deficiency payment equal to the volume of the deficiency multiplied by the contractual rate then in effect. The deficiency payment is initially recorded as deferred revenue on the Partnership’s balance sheets for all contracts in which the MVC deficiency makeup period is contractually longer than a fiscal quarter. Certain of the Partnership’s customers may apply the amount of any such deficiency payments as a credit for volumes transported on the applicable pipeline or terminal system in excess of its MVC during the following quarters under the terms of the applicable agreement. The Partnership recognizes operating revenue for the deficiency payments when credits are used for volumes transported in excess of MVCs or at the end of the contractual period. If the Partnership determines, based on all available information, that it is remote that the Partnership’s customer will utilize these deficiency payments, the amount of the expected unused credits will be recognized as operating revenue in the period when that determination is made. The use or recognition of the credits is recorded as a reduction to deferred revenue. Storage Segment The Partnership earns storage revenue under crude oil and refined products storage contracts. In addition, the Partnership earns storage revenue under its processing agreement at its East Coast storage facility. Certain of these contracts contain capacity reservation agreements, under which the Partnership collects a fee for reserving storage capacity for customers in its facilities. Customers generally pay reservation fees based on the level of storage capacity reserved rather than the actual volumes stored. MVC Payments to be Received As of March 31, 2020, MVC payments to be received related to noncancelable commercial terminaling, pipeline and storage agreements were as follows: Remainder of 2020 $ 88,072 2021 112,769 2022 90,069 2023 87,581 2024 86,793 Thereafter 148,902 Total MVC payments to be received (1)(2) $ 614,186 (1) All fixed consideration from contracts with customers is included in the amounts presented above. Variable consideration that is constrained or not required to be estimated as it reflects our efforts to perform is excluded. (2) Arrangements deemed leases are excluded from this table. Leases Lessor Disclosures The Partnership has leased certain of its assets under lease agreements with varying terms up to fifteen years, including leases of storage, terminaling, pipeline and processing assets. Certain of these leases include options to extend or renew the lease for one or more years. These options are included in the lease term when it is reasonably certain that the option will be exercised. The Partnership’s agreements generally do not provide an option for the lessee to purchase the leased equipment at the end of the lease term. However, in connection with the affiliate lease agreement for the interstate natural gas pipeline at PBF Holding’s Paulsboro Refinery (the “Paulsboro Natural Gas Pipeline”), the Partnership granted a right of first refusal in favor of PBF LLC such that the Partnership would be required to give PBF Holding the first opportunity to purchase the Paulsboro Natural Gas Pipeline at market value prior to selling to an unrelated third party. At inception, the Partnership determines if an arrangement contains a lease and whether that lease meets the classification criteria of a finance or operating lease. As of March 31, 2020, all of the Partnership’s leases have been determined to be operating leases. Some of the Partnership’s lease arrangements contain lease components ( e.g., MVCs) and non-lease components ( e.g., maintenance, labor charges, etc.). The Partnership accounts for the lease and non-lease components as a single lease component for every asset class. Certain of the Partnership’s lease agreements include MVCs that are adjusted periodically based on a specified index or rate. The leases are initially measured using the projected payments adjusted for the index or rate in effect at the commencement date. The Partnership’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Partnership expects to derive significant future benefits from its leased assets following the end of the lease term, as the remaining useful life would be sufficient to allow the Partnership to enter into new leases for such assets. In the normal course of business, the Partnership enters into contracts with PBF Holding and its refineries whereby PBF Holding and its refineries lease certain of the Partnership’s storage, terminaling and pipeline assets. The Partnership 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 range from one fifteen The table below quantifies lease revenue for the three months ended March 31, 2020 and 2019: Three Months Ended 2020 2019 Affiliate $ 38,887 $ 36,087 Third-party 13,553 4,349 Total lease revenue $ 52,440 $ 40,436 Undiscounted Cash Flows The table below presents the fixed component of the undiscounted cash flows to be received for each of the periods presented for the Partnership’s operating leases with customers as of March 31, 2020: Remainder of 2020 $ 132,734 2021 175,481 2022 156,993 2023 131,012 2024 129,790 Thereafter 225,285 Total undiscounted future cash to be received $ 951,295 Assets Under Lease The Partnership’s assets that are subject to lease are included in “Property, plant and equipment, net” within the Partnership’s condensed consolidated balance sheets. The table below quantifies by property, plant and equipment category the assets that are subject to lease as of March 31, 2020 and December 31, 2019: March 31, December 31, Land $ 98,337 $ 98,337 Pipelines 319,130 318,459 Terminals and equipment 83,400 83,149 Storage facilities and processing units 176,331 177,084 677,198 677,029 Accumulated depreciation (84,300) (77,243) Net assets subject to lease $ 592,898 $ 599,786 Deferred Revenue The Partnership records deferred revenue when cash payments are received or due in advance of performance, including amounts which are refundable. Deferred revenue was $2,776 and $3,189 as of March 31, 2020 and December 31, 2019, respectively. The decrease in the deferred revenue balance as of March 31, 2020 is primarily driven by the timing and extent of cash payments received in advance of satisfying the Partnership’s performance obligations for the comparative periods. The Partnership’s payment terms vary by the type and location of the customer and the services offered. The period between invoicing and when payment is due is not significant ( i.e., generally within two months). For certain services and customer types, the Partnership requires payment before the services are performed for the customer.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Acquisitions from PBF The following Acquisitions from PBF were transactions between affiliate companies. As a result, the acquisitions were accounted for as transfers of assets between entities under common control in accordance with GAAP. The assets and liabilities of the Acquisitions from PBF were transferred at their historical carrying value. TVPC Acquisition On April 24, 2019, the Partnership entered into a Contribution Agreement with PBF LLC, pursuant to which the Partnership acquired from PBF LLC all of the issued and outstanding limited liability company interests of TVP Holding Company LLC (“TVP Holding”), which held the remaining 50% equity interest in Torrance Valley Pipeline Company LLC (“TVPC”) (the “TVPC Acquisition”). The TVPC Acquisition closed on May 31, 2019 for total consideration of $200,000 in cash, which was financed through proceeds from the 2019 Registered Direct Offering (as defined in Note 8 “Equity” of the Notes to Condensed Consolidated Financial Statements) and borrowings under the Partnership’s Revolving Credit Facility (as defined in Note 7 “Debt” of the Notes to Condensed Consolidated Financial Statements). As a result of the TVPC Acquisition, the Partnership owns 100% of the equity interest in TVPC. Acquisition Expenses

Credit Losses

Credit Losses	3 Months Ended
	Mar. 31, 2020
Credit Loss [Abstract]
CURRENT EXPECTED CREDIT LOSSES	CURRENT EXPECTED CREDIT LOSSES Credit Losses The Partnership has exposure to credit losses through its collection of fees charged to customers for crude oil and refined products terminaling, pipeline, storage and processing services. The Partnership evaluates creditworthiness on an individual customer basis. The Partnership utilizes a financial review model for purposes of evaluating creditworthiness, which is based on information from financial statements and credit reports. The financial review model enables the Partnership to assess the customer’s risk profile and determine credit limits on the basis of their financial strength, including but not limited to, their liquidity, leverage, debt serviceability, longevity and how they pay their bills. The Partnership may require security in the form of letters of credit or cash payments in advance of product and services delivery for certain customers that are deemed higher risk. Additionally, the Partnership may hold customers’ product in storage at its facilities as collateral and/or deny access to its facilities, as allowable under commercial law or its contractual agreements, should payment not be received. The Partnership reviews each customer’s credit risk profile at least annually or more frequently if warranted. Following the widespread market disruption that has resulted from the coronavirus disease 2019 (“COVID-19”) pandemic and related governmental and consumer responses, the Partnership has been performing ongoing credit reviews of its customers including monitoring for any negative credit events such as customer bankruptcy or insolvency events. Based on its credit assessments, the Partnership may adjust payment terms or limit available trade credit for customers, and customers within certain industries, which are deemed to be at a higher risk. The Partnership performs a quarterly allowance for doubtful accounts analysis to assess whether an allowance needs to be recorded for any outstanding trade receivables. In estimating credit losses, management reviews accounts that are past due, have known disputes or have experienced any negative credit events that may result in future collectability issues. There was no allowance for doubtful accounts recorded as of March 31, 2020 and December 31, 2019.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net consisted of the following: March 31, December 31, Land $ 115,957 $ 115,957 Pipelines 343,204 342,533 Terminals and equipment 315,712 315,322 Storage facilities and processing units 194,090 194,843 Construction in progress 13,084 8,093 982,047 976,748 Accumulated depreciation (132,032) (122,138) Property, plant and equipment, net $ 850,015 $ 854,610 Depreciation expense was $9,948 and $8,596 for the three months ended March 31, 2020 and 2019, respectively.

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLES	GOODWILL AND INTANGIBLES The global crisis resulting from the spread of COVID-19 has had a substantial impact on the economy and overall consumer demand. As a result of the significant decrease in the Partnership’s unit price and market capitalization during the three months ended March 31, 2020, the Partnership deemed an impairment triggering event had occurred. As such, the Partnership performed an interim impairment assessment on its goodwill and indefinitely-lived intangibles assets as of March 31, 2020. As a result of the interim impairment test, the Partnership concluded that the carrying values of its goodwill and indefinitely-lived intangible assets were not impaired. The Partnership’s net intangibles consisted of the following: March 31, December 31, Customer contracts $ 13,300 $ 13,300 Customer relationships 5,900 5,900 19,200 19,200 Accumulated amortization (3,035) (1,701) Total intangibles, net* $ 16,165 $ 17,499 * Intangibles, net are included in “Other non-current assets” within the Partnership’s condensed consolidated balance sheets.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
DEBT	DEBT Total debt was comprised of the following: March 31, December 31, 2023 Notes $ 525,000 $ 525,000 Revolving credit facility (a)(b) 383,000 283,000 Total debt outstanding 908,000 808,000 Unamortized debt issuance costs (7,532) (8,125) Unamortized 2023 Notes premium 2,075 2,229 Net carrying value of debt $ 902,543 $ 802,104 ___________________ (a) PBFX had $4,768 outstanding letters of credit and $112,232 available under its $500,000 amended and restated revolving credit facility with Wells Fargo Bank, National Association, as administrative agent, and a syndicate of lenders (as amended, the “Revolving Credit Facility”) as of March 31, 2020. (b) During the three months ended March 31, 2020, PBFX incurred borrowings of $100,000 under the Revolving Credit Facility primarily for general partnership purposes and to fund capital expenditures and working capital requirements. Fair Value Measurement A fair value hierarchy (Level 1, Level 2, or Level 3) is used to categorize fair value amounts based on the quality of inputs used to measure fair value. Accordingly, fair values derived from Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities. Fair values derived from Level 2 inputs are based on quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are either directly or indirectly observable for the asset or liability. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
EQUITY	EQUITY PBFX had 32,197,760 common units held by the public outstanding as of March 31, 2020. PBF LLC owns 29,953,631 PBFX common units constituting an aggregate of 48.2% of PBFX’s limited partner interest as of March 31, 2020. Unit Activity The partnership agreement authorizes PBFX to issue an unlimited number of additional partnership interests for the consideration of, and on the terms and conditions determined by, PBFX’s general partner without the approval of the unitholders. It is possible that PBFX will fund future acquisitions through the issuance of additional common units, subordinated units or other partnership interests. The following table presents changes in PBFX common units outstanding: Three Months Ended March 31, 2020 2019 Balance at beginning of period 62,130,035 45,348,663 Vesting of phantom units, net of forfeitures 21,356 158 New units issued — 10,000,000 Balance at end of period 62,151,391 55,348,821 On February 28, 2019, the Partnership closed on the transaction contemplated by the Equity Restructuring Agreement with PBF LLC and PBF GP, pursuant to which PBFX’s incentive distribution rights (“IDRs”) held by PBF LLC were canceled and converted into 10,000,000 newly issued PBFX common units (the “IDR Restructuring”). On April 24, 2019, the Partnership entered into subscription agreements to sell an aggregate of 6,585,500 common units to certain institutional investors in a registered direct public offering (the “2019 Registered Direct Offering”) for gross proceeds of approximately $135,000. The 2019 Registered Direct Offering closed on April 29, 2019. Additionally, 292,341 of the Partnership’s phantom units issued under the PBFX 2014 Long-Term Incentive Plan vested and were converted into common units held by certain directors, officers and current and former employees of our general partner or its affiliates during the year ended December 31, 2019. Holders of any additional common units PBFX issues will be entitled to share equally with the then-existing common unitholders in PBFX’s distributions of available cash. Noncontrolling Interest Prior to the TVPC Acquisition, PBFX’s wholly-owned subsidiary, PBFX Operating Company LLC (“PBFX Op Co”), held a 50% controlling equity interest in TVPC, with the other 50% equity interest in TVPC held by TVP Holding, a subsidiary of PBF Holding. PBFX Op Co was the sole managing member of TVPC. PBFX, through its ownership of PBFX Op Co, consolidated the financial results of TVPC and recorded a noncontrolling interest for the economic interest in TVPC held by TVP Holding. Noncontrolling interest on the condensed consolidated statements of operations included the portion of net income or loss attributable to the economic interest in TVPC held by TVP Holding. Noncontrolling interest on the condensed consolidated balance sheets included the portion of net assets of TVPC attributable to TVP Holding. Subsequent to the TVPC Acquisition, PBFX owns 100% of the equity interest in TVPC and no longer records a noncontrolling interest related to TVPC. Equity Activity The following tables summarize the changes in the carrying amount of the Partnership’s equity during the three months ended March 31, 2020 and 2019: Common Units Balance at December 31, 2019 $ 105,083 Quarterly distributions to unitholders ($0.5200 per unit) (32,703) Net income attributable to the partners 34,813 Unit-based compensation expense* 1,302 Other (6) Balance at March 31, 2020 $ 108,489 * Inclusive of $201 of expense associated with the accelerated vesting of phantom units in March 2020 for nonretirement eligible employees in accordance with their grant agreements. Common Units Noncontrolling Interest Total Equity Balance at December 31, 2018 $ 23,718 $ 169,472 $ 193,190 Quarterly distributions to unitholders ($0.5050 per unit) (28,313) — (28,313) Distributions to TVPC members — (6,500) (6,500) Net income attributable to the partners 17,357 4,719 22,076 Unit-based compensation expense 964 — 964 Other 259 — 259 Balance at March 31, 2019 $ 13,985 $ 167,691 $ 181,676 Cash Distributions PBFX’s partnership agreement sets forth the calculation to be used to determine the amount and priority of cash distributions that the unitholders and general partner will receive. During the three months ended March 31, 2020, PBFX made a distribution payment as follows: Related Earnings Period: Q4 2019 Distribution date March 17, 2020 Record date February 25, 2020 Per unit $ 0.5200 To public common unitholders $ 16,732 To PBF LLC 15,576 Total distribution $ 32,308 The quarterly distributions to limited partners for the three months ended March 31, 2020 and 2019 are shown in the table below. The Partnership’s distributions are declared subsequent to quarter end (distributions of $0.30 and $0.51 per unit declared for the three months ended March 31, 2020 and 2019, respectively); therefore, the table represents total estimated distributions applicable to the period in which the distributions were earned: Three Months Ended 2020 2019 Limited partners’ distributions: Common $ 18,844 $ 31,952 Total distributions $ 18,844 $ 31,952 Total cash distributions (1) $ 18,705 $ 31,716

NET INCOME PER UNIT

NET INCOME PER UNIT	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
NET INCOME PER UNIT	NET INCOME PER UNIT Earnings in excess of distributions are allocated to the limited partners based on their respective ownership interests. Payments made to PBFX’s unitholders are determined in relation to actual distributions declared and are not based on the net income (loss) allocations used in the calculation of net income (loss) per unit. Diluted net income per unit includes the effect of potentially dilutive units of PBFX’s common units that consist of unvested phantom units. There were 168,000 and 0 anti-dilutive phantom units for the three months ended March 31, 2020 and 2019, respectively. The following table shows the calculation of net income per limited partner unit: Three Months Ended 2020 2019 Net income attributable to the partners: Distributions declared $ 18,844 $ 31,952 Earnings less distributions 15,969 (14,595) Net income attributable to the partners $ 34,813 $ 17,357 Weighted-average units outstanding - basic 62,370,927 49,151,927 Weighted-average units outstanding - diluted 62,473,094 49,318,133 Net income per limited partner unit - basic $ 0.56 $ 0.35 Net income per limited partner unit - diluted 0.56 0.35

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Environmental Matters PBFX’s assets, along with PBF Energy’s refineries, 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 composition of fuels. Compliance with existing and anticipated laws and regulations can increase the overall cost of operating the Partnership’s assets, including remediation, operating costs and capital costs to construct, maintain and upgrade equipment and facilities. PBFX recorded a total liability related to environmental remediation costs at certain of its assets of $2,316 and $2,347 as of March 31, 2020 and December 31, 2019, respectively, related to existing environmental liabilities. During the first quarter of 2019, the Partnership notified certain agencies of an oil sheen present in the Schuylkill River near one of its facilities. Clean-up, identification and mitigation of the source were immediately initiated. The Partnership is working on a remedial investigation and action plan with the state agency. Although response activities are nearly complete, remediation costs will not be finalized until the action plan is complete. Incremental costs are not expected to be material to the Partnership. Contingent Consideration In connection with the Partnership’s acquisition of CPI Operations LLC from Crown Point International LLC (“Crown Point”) in October 2018, the purchase and sale agreement between the Partnership and Crown Point included an earn-out provision related to an existing commercial agreement with a third party, based on the future results of certain of the acquired idled assets (the “Contingent Consideration”). Pursuant to the purchase and sale agreement, the Partnership and Crown Point will share equally in the future operating profits of the restarted assets, as defined in the purchase and sale agreement, over a contractual term of up to three

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Agreements with PBF Energy Entities Commercial Agreements PBFX currently derives a majority of its revenue from long-term, fee-based agreements with PBF Holding, which generally include MVCs and contractual fee escalations for inflation adjustments and certain increases in operating costs. PBFX believes the terms and conditions under these agreements, as well as the Omnibus Agreement and the Services Agreement (each as defined below), each with PBF Holding, 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 2019 Form 10-K for a more complete description of PBFX’s commercial agreements with PBF Holding, including those identified as leases, which were entered into prior to 2020. No new agreements, or amendments, were entered into during the three months ended March 31, 2020. Other Agreements In addition to the commercial agreements described above, PBFX has entered into an omnibus agreement with PBF GP, PBF LLC and PBF Holding, which has been amended and restated in connection with certain of the Acquisitions from PBF (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. The annual fee was increased to $8,275 effective as of January 1, 2020. Additionally, PBFX has entered into an operation and management services and secondment agreement with PBF Holding and certain of its subsidiaries (as amended, the “Services Agreement”), pursuant to which PBF Holding and its subsidiaries provide PBFX with the personnel necessary for the Partnership to perform its obligations under its commercial agreements. PBFX reimburses PBF Holding 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 the Partnership may terminate any service upon 30-days’ notice. Refer to the 2019 Form 10-K for a more complete description of the Omnibus Agreement and the Services Agreement. Summary of Transactions A summary of revenue and expense transactions with the Partnership’s affiliates, including expenses directly charged and allocated to the Partnership, is as follows: Three Months Ended 2020 2019 Revenue $ 75,543 $ 71,332 Operating and maintenance expenses 2,171 2,105 General and administrative expenses 1,996 1,762

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Partnership’s operations are comprised of operating segments, which are strategic business units that offer different services in various geographical locations. PBFX has evaluated the performance of each operating segment based on its respective operating income. The operating segments adhere to the accounting polices used for the consolidated financial statements, as described in Note 2 “Summary of Accounting Policies” of the Notes to Consolidated Financial Statements in the 2019 Form 10-K. The Partnership’s operating segments are organized into two reportable segments: (i) Transportation and Terminaling and (ii) Storage. Operations that are not included in either the Transportation and Terminaling or the Storage segments are included in Corporate. The Partnership does not have any foreign operations. The Partnership’s Transportation and Terminaling segment consists of operating segments that include product terminals, pipelines, crude unloading facilities and other facilities capable of transporting and handling crude oil, refined products and natural gas. The Partnership’s Storage segment consists of operating segments that include storage and other facilities capable of processing crude oil and handling crude oil, refined products and intermediates. Revenue is generated from third-party transactions as well as commercial agreements entered into with PBF Holding under which the Partnership receives fees for transportation, terminaling, storage and processing services. The commercial agreements with PBF Holding are described in Note 11 “Related Party Transactions” of the Notes to Condensed Consolidated Financial Statements. Certain general and administrative expenses and interest and financing costs are included in Corporate as they are not directly attributable to a specific reporting segment. Identifiable assets are those used by the operating segments, whereas assets included in Corporate are principally cash, deposits and other assets that are not associated with operations specific to a reporting segment. Three Months Ended March 31, 2020 Transportation and Terminaling Storage Corporate Consolidated Total Total revenue $ 70,243 $ 22,786 $ — $ 93,029 Depreciation and amortization 7,072 4,210 — 11,282 Income (loss) from operations 41,268 10,772 (4,387) 47,653 Other expense — — 12,840 12,840 Capital expenditures 3,626 2,454 — 6,080 Three Months Ended March 31, 2019 Transportation and Terminaling Storage Corporate Consolidated Total Total revenue $ 65,959 $ 12,886 $ — $ 78,845 Depreciation and amortization 6,901 1,820 — 8,721 Income (loss) from operations 36,551 3,657 (6,010) 34,198 Other expense — — 12,122 12,122 Capital expenditures 10,544 676 — 11,220 Balance at March 31, 2020 Transportation and Terminaling Storage Corporate Consolidated Total Total assets $ 747,200 $ 234,652 $ 106,891 $ 1,088,743 Balance at December 31, 2019 Transportation and Terminaling Storage Corporate Consolidated Total Total assets $ 726,374 $ 228,495 $ 18,133 $ 973,002

DESCRIPTION OF THE BUSINESS A_2

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Accounting Pronouncements	Recently Adopted Accounting Guidance In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments—Credit Losses (Topic 326); Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). This guidance amends the guidance on measuring credit losses on financial assets held at amortized cost. ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Partnership has adopted ASU 2016-13 effective January 1, 2020. The adoption of ASU 2016-13 did not have a material impact on the Partnership’s condensed consolidated financial statements. Refer to Note 4 “Current Expected Credit Losses” of the Notes to Condensed Consolidated Financial Statements for further disclosure related to the adoption of this pronouncement. Recently Issued Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The amendments in this ASU provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this ASU are elective and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference London Interbank Offering Rate, also known as LIBOR, or another reference rate expected to be discontinued because of reference rate reform. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. The Partnership is currently evaluating the impact of this new standard on its consolidated financial statements and related disclosures.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2020
Revenues [Abstract]
Revenue from External Customers by Products and Services [Table Text Block]	The following table provides information relating to the Partnership’s revenue for each service category by segment for the periods presented: Three Months Ended 2020 2019 Transportation and Terminaling Segment Terminaling $ 37,927 $ 32,353 Pipeline 20,430 18,627 Other 11,886 14,979 Total 70,243 65,959 Storage Segment Storage 14,561 12,886 Other 8,225 — Total 22,786 12,886 Total Revenue $ 93,029 $ 78,845
Schedule of Future Minimum Volume Commitments to be received [Table Text Block]	As of March 31, 2020, MVC payments to be received related to noncancelable commercial terminaling, pipeline and storage agreements were as follows: Remainder of 2020 $ 88,072 2021 112,769 2022 90,069 2023 87,581 2024 86,793 Thereafter 148,902 Total MVC payments to be received (1)(2) $ 614,186 (1) All fixed consideration from contracts with customers is included in the amounts presented above. Variable consideration that is constrained or not required to be estimated as it reflects our efforts to perform is excluded. (2) Arrangements deemed leases are excluded from this table.
Operating Lease, Lease Income [Table Text Block]	The table below quantifies lease revenue for the three months ended March 31, 2020 and 2019: Three Months Ended 2020 2019 Affiliate $ 38,887 $ 36,087 Third-party 13,553 4,349 Total lease revenue $ 52,440 $ 40,436
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]	The table below presents the fixed component of the undiscounted cash flows to be received for each of the periods presented for the Partnership’s operating leases with customers as of March 31, 2020: Remainder of 2020 $ 132,734 2021 175,481 2022 156,993 2023 131,012 2024 129,790 Thereafter 225,285 Total undiscounted future cash to be received $ 951,295
Assets Under Lease [Table Text Block]	The Partnership’s assets that are subject to lease are included in “Property, plant and equipment, net” within the Partnership’s condensed consolidated balance sheets. The table below quantifies by property, plant and equipment category the assets that are subject to lease as of March 31, 2020 and December 31, 2019: March 31, December 31, Land $ 98,337 $ 98,337 Pipelines 319,130 318,459 Terminals and equipment 83,400 83,149 Storage facilities and processing units 176,331 177,084 677,198 677,029 Accumulated depreciation (84,300) (77,243) Net assets subject to lease $ 592,898 $ 599,786

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	Property, plant and equipment, net consisted of the following: March 31, December 31, Land $ 115,957 $ 115,957 Pipelines 343,204 342,533 Terminals and equipment 315,712 315,322 Storage facilities and processing units 194,090 194,843 Construction in progress 13,084 8,093 982,047 976,748 Accumulated depreciation (132,032) (122,138) Property, plant and equipment, net $ 850,015 $ 854,610

GOODWILL AND INTANGIBLES (Table

GOODWILL AND INTANGIBLES (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets [Table Text Block]	The Partnership’s net intangibles consisted of the following: March 31, December 31, Customer contracts $ 13,300 $ 13,300 Customer relationships 5,900 5,900 19,200 19,200 Accumulated amortization (3,035) (1,701) Total intangibles, net* $ 16,165 $ 17,499 * Intangibles, net are included in “Other non-current assets” within the Partnership’s condensed consolidated balance sheets.

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of long-term debt	Total debt was comprised of the following: March 31, December 31, 2023 Notes $ 525,000 $ 525,000 Revolving credit facility (a)(b) 383,000 283,000 Total debt outstanding 908,000 808,000 Unamortized debt issuance costs (7,532) (8,125) Unamortized 2023 Notes premium 2,075 2,229 Net carrying value of debt $ 902,543 $ 802,104 ___________________ (a) PBFX had $4,768 outstanding letters of credit and $112,232 available under its $500,000 amended and restated revolving credit facility with Wells Fargo Bank, National Association, as administrative agent, and a syndicate of lenders (as amended, the “Revolving Credit Facility”) as of March 31, 2020. (b) During the three months ended March 31, 2020, PBFX incurred borrowings of $100,000 under the Revolving Credit Facility primarily for general partnership purposes and to fund capital expenditures and working capital requirements.

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Schedule of Stock by Class [Table Text Block]	The following table presents changes in PBFX common units outstanding: Three Months Ended March 31, 2020 2019 Balance at beginning of period 62,130,035 45,348,663 Vesting of phantom units, net of forfeitures 21,356 158 New units issued — 10,000,000 Balance at end of period 62,151,391 55,348,821
Schedule of Stockholders Equity	The following tables summarize the changes in the carrying amount of the Partnership’s equity during the three months ended March 31, 2020 and 2019: Common Units Balance at December 31, 2019 $ 105,083 Quarterly distributions to unitholders ($0.5200 per unit) (32,703) Net income attributable to the partners 34,813 Unit-based compensation expense* 1,302 Other (6) Balance at March 31, 2020 $ 108,489	Common Units Noncontrolling Interest Total Equity Balance at December 31, 2018 $ 23,718 $ 169,472 $ 193,190 Quarterly distributions to unitholders ($0.5050 per unit) (28,313) — (28,313) Distributions to TVPC members — (6,500) (6,500) Net income attributable to the partners 17,357 4,719 22,076 Unit-based compensation expense 964 — 964 Other 259 — 259 Balance at March 31, 2019 $ 13,985 $ 167,691 $ 181,676
Distributions Made to Limited Partner, by Distribution [Table Text Block]	During the three months ended March 31, 2020, PBFX made a distribution payment as follows: Related Earnings Period: Q4 2019 Distribution date March 17, 2020 Record date February 25, 2020 Per unit $ 0.5200 To public common unitholders $ 16,732 To PBF LLC 15,576 Total distribution $ 32,308
Distributions Made to Unitholders	The quarterly distributions to limited partners for the three months ended March 31, 2020 and 2019 are shown in the table below. The Partnership’s distributions are declared subsequent to quarter end (distributions of $0.30 and $0.51 per unit declared for the three months ended March 31, 2020 and 2019, respectively); therefore, the table represents total estimated distributions applicable to the period in which the distributions were earned: Three Months Ended 2020 2019 Limited partners’ distributions: Common $ 18,844 $ 31,952 Total distributions $ 18,844 $ 31,952 Total cash distributions (1) $ 18,705 $ 31,716

NET INCOME PER UNIT (Tables)

NET INCOME PER UNIT (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Summary of calculation of net income per unit	The following table shows the calculation of net income per limited partner unit: Three Months Ended 2020 2019 Net income attributable to the partners: Distributions declared $ 18,844 $ 31,952 Earnings less distributions 15,969 (14,595) Net income attributable to the partners $ 34,813 $ 17,357 Weighted-average units outstanding - basic 62,370,927 49,151,927 Weighted-average units outstanding - diluted 62,473,094 49,318,133 Net income per limited partner unit - basic $ 0.56 $ 0.35 Net income per limited partner unit - diluted 0.56 0.35

RELATED PARTY TRANSACTIONS - SU

RELATED PARTY TRANSACTIONS - SUMMARY OF TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Schedule of related party transactions	A summary of revenue and expense transactions with the Partnership’s affiliates, including expenses directly charged and allocated to the Partnership, is as follows: Three Months Ended 2020 2019 Revenue $ 75,543 $ 71,332 Operating and maintenance expenses 2,171 2,105 General and administrative expenses 1,996 1,762

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of segment reporting	Three Months Ended March 31, 2020 Transportation and Terminaling Storage Corporate Consolidated Total Total revenue $ 70,243 $ 22,786 $ — $ 93,029 Depreciation and amortization 7,072 4,210 — 11,282 Income (loss) from operations 41,268 10,772 (4,387) 47,653 Other expense — — 12,840 12,840 Capital expenditures 3,626 2,454 — 6,080 Three Months Ended March 31, 2019 Transportation and Terminaling Storage Corporate Consolidated Total Total revenue $ 65,959 $ 12,886 $ — $ 78,845 Depreciation and amortization 6,901 1,820 — 8,721 Income (loss) from operations 36,551 3,657 (6,010) 34,198 Other expense — — 12,122 12,122 Capital expenditures 10,544 676 — 11,220 Balance at March 31, 2020 Transportation and Terminaling Storage Corporate Consolidated Total Total assets $ 747,200 $ 234,652 $ 106,891 $ 1,088,743 Balance at December 31, 2019 Transportation and Terminaling Storage Corporate Consolidated Total Total assets $ 726,374 $ 228,495 $ 18,133 $ 973,002

DESCRIPTION OF THE BUSINESS A_3

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Details)	Mar. 31, 2020shares
PBF Energy [Member] | PBF LLC [Member]
Limited Partners' Capital Account [Line Items]
Percentage of total economic interest	99.20%
Limited Partner, Affiliate [Member] | PBF LLC [Member]
Limited Partners' Capital Account [Line Items]
Limited partner interest percentage	48.20%
Limited Partner, Public [Member]
Limited Partners' Capital Account [Line Items]
Limited partner interest percentage	51.80%
Common Units [Member] | Limited Partner, Affiliate [Member] | PBF LLC [Member]
Limited Partners' Capital Account [Line Items]
Units owned	29,953,631

REVENUE (Details)

REVENUE (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Number of Operating Segments | segment		2
Total revenue		$ 93,029	$ 78,845
Contract Receivable, Due in Next Twelve Months		88,072
Contract Receivable, Due in Year Two		112,769
Contract Receivable, Due in Year Three		90,069
Contract Receivable, Due in Year Four		87,581
Contract Receivable, Due in Year Five		86,793
Contract Receivable, Due after Year Five		148,902
Total MVC payments to be received	[1],[2]	$ 614,186
Lease term (up to)		15 years
Percentage of Total Undiscounted Future Rental Income from Leased Assets Represented by Affiliated Leases		87.00%
Operating Leases, Income Statement, Lease Revenue		$ 52,440	40,436
Lessor, Operating Lease, Payments to be Received, Remainder of Fiscal Year		132,734
Lessor, Operating Lease, Payments to be Received, Two Years		175,481
Lessor, Operating Lease, Payments to be Received, Three Years		156,993
Lessor, Operating Lease, Payments to be Received, Four Years		131,012
Lessor, Operating Lease, Payments to be Received, Five Years		129,790
Lessor, Operating Lease, Payments to be Received, Thereafter		225,285
Lessor, Operating Lease, Payments to be Received		951,295
Gross PP&E Assets Under Lease		982,047		$ 976,748
Accumulated Depreciation, Assets Under Lease		(132,032)		(122,138)
Net PP&E Assets Under Lease		850,015		854,610
Deferred revenue		2,776		3,189
Transportation And Terminaling Segment [Member]
Total revenue		70,243	65,959
Storage Segment [Member]
Total revenue		22,786	12,886
Terminaling Service [Member] | Transportation And Terminaling Segment [Member]
Total revenue		37,927	32,353
Pipeline Service [Member] | Transportation And Terminaling Segment [Member]
Total revenue		20,430	18,627
Other Service [Member] | Transportation And Terminaling Segment [Member]
Total revenue		11,886	14,979
Other Service [Member] | Storage Segment [Member]
Total revenue		8,225	0
Storage Service [Member] | Storage Segment [Member]
Total revenue		14,561	12,886
Property Subject to Operating Lease [Member]
Gross PP&E Assets Under Lease		677,198		677,029
Accumulated Depreciation, Assets Under Lease		(84,300)		(77,243)
Net PP&E Assets Under Lease		592,898		599,786
Land [Member]
Gross PP&E Assets Under Lease		115,957		115,957
Land [Member] | Property Subject to Operating Lease [Member]
Gross PP&E Assets Under Lease		98,337		98,337
Pipelines [Member]
Gross PP&E Assets Under Lease		343,204		342,533
Pipelines [Member] | Property Subject to Operating Lease [Member]
Gross PP&E Assets Under Lease		319,130		318,459
Terminals and equipment [Member]
Gross PP&E Assets Under Lease		315,712		315,322
Terminals and equipment [Member] | Property Subject to Operating Lease [Member]
Gross PP&E Assets Under Lease		83,400		83,149
Storage Facilities and Processing Units [Member]
Gross PP&E Assets Under Lease		194,090		194,843
Storage Facilities and Processing Units [Member] | Property Subject to Operating Lease [Member]
Gross PP&E Assets Under Lease		176,331		$ 177,084
Lease with Affiliate [Member]
Operating Leases, Income Statement, Lease Revenue		$ 38,887	36,087
Lease with Affiliate [Member] | Minimum [Member]
Lessee, Operating Lease, Term of Contract		1 year
Lease with Affiliate [Member] | Maximum [Member]
Lessee, Operating Lease, Term of Contract		15 years
Third Party Lease [Member]
Operating Leases, Income Statement, Lease Revenue		$ 13,553	$ 4,349
[1]	(1) All fixed consideration from contracts with customers is included in the amounts presented above. Variable consideration that is constrained or not required to be estimated as it reflects our efforts to perform is excluded.
[2]	(2) Arrangements deemed leases are excluded from this table.

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	May 31, 2019	Mar. 31, 2020	Mar. 31, 2019	May 30, 2019	Mar. 31, 2020
Business Acquisition [Line Items]
Acquisition related costs		$ 95	$ 121
Torrance Valley Pipeline Company LLC [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 200,000
Wholly Owned Subsidiary, Percentage of Ownership					100.00%
TVP Holding [Member] | Torrance Valley Pipeline Company LLC [Member]
Business Acquisition [Line Items]
Wholly Owned Subsidiary, Percentage of Ownership				50.00%

Credit Losses (Details)

Credit Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Credit Loss [Abstract]
Accounts Receivable, Allowance for Credit Loss	$ 0	$ 0

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 982,047		$ 976,748
Accumulated depreciation	(132,032)		(122,138)
Property, plant and equipment, net	850,015		854,610
Depreciation	(9,948)	$ (8,596)
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	115,957		115,957
Pipelines [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	343,204		342,533
Terminals and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	315,712		315,322
Storage Facilities and Processing Units [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	194,090		194,843
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 13,084		$ 8,093

GOODWILL AND INTANGIBLES (Detai

GOODWILL AND INTANGIBLES (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)		$ 19,200		$ 19,200
Finite-Lived Intangible Assets, Accumulated Amortization		(3,035)		(1,701)
Intangible Assets, Net (Excluding Goodwill)	[1]	16,165		17,499
Amortization of Intangible Assets		1,334	$ 125
Customer Contracts [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)		13,300		13,300
Customer Relationships [Member]
Goodwill [Line Items]
Intangible Assets, Gross (Excluding Goodwill)		$ 5,900		$ 5,900
[1]	* Intangibles, net are included in “Other non-current assets” within the Partnership’s condensed consolidated balance sheets.

DEBT - Outstanding amounts (Det

DEBT - Outstanding amounts (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020		Mar. 31, 2019	Dec. 31, 2019	Jul. 30, 2018
Debt Instrument [Line Items]
Total debt outstanding	$ 908,000,000			$ 808,000,000
Unamortized debt issuance costs	7,532,000			8,125,000
Unamortized 2023 Notes premium	2,075,000			2,229,000
Net carrying value of debt	902,543,000			802,104,000
Proceeds from Lines of Credit	100,000,000		$ 16,000,000
Senior Notes [Member]
Debt Instrument [Line Items]
Total debt outstanding	525,000,000			525,000,000
Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Total debt outstanding	383,000,000	[1],[2]		$ 283,000,000
Line of credit, outstanding	4,768,000
Remaining borrowing capacity	112,232,000
Maximum borrowing capacity					$ 500,000,000
Torrance Valley Pipeline Company LLC [Member]
Debt Instrument [Line Items]
Proceeds from Lines of Credit	$ 100,000,000
[1]	During the three months ended March 31, 2020, PBFX incurred borrowings of $100,000 under the Revolving Credit Facility primarily for general partnership purposes and to fund capital expenditures and working capital requirements.
[2]	PBFX had $4,768 outstanding letters of credit and $112,232 available under its $500,000 amended and restated revolving credit facility with Wells Fargo Bank, National Association, as administrative agent, and a syndicate of lenders (as amended, the “Revolving Credit Facility”) as of March 31, 2020.

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt Instrument, Fair Value Disclosure	$ 685,434	$ 825,966
Total debt outstanding	$ 908,000	808,000
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.875%
Total debt outstanding	$ 525,000	525,000
Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Fair Value Disclosure	$ 302,434	$ 542,966

EQUITY (Details)

EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 25, 2020	Apr. 29, 2019	Mar. 31, 2020		Mar. 31, 2019	May 30, 2019	Mar. 31, 2020	Dec. 31, 2019	Feb. 28, 2019	Dec. 31, 2018
Capital Unit [Line Items]
Cash Distribution Declared Per Unit			$ 0.30		$ 0.51
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance			$ 105,083		$ 193,190	$ 193,190
Quarterly distributions to unitholders ($0.5200 per unit)					(28,313)
Distributions declared			(18,844)		(31,952)
Net income attributable to the partners			34,813		22,076
Unit-based compensation expense*					964
Other					259
Ending balance			$ 108,489		$ 181,676		$ 108,489
Cash distribution	$ 32,308
Cash distribution (in dollars per share)	$ 0.5200		$ 0.52		$ 0.505
Shares, Issued		6,585,500
Units issued in connection with the IDR Restructuring		$ 135,000
Accelerated Vesting of Phantom Units for Nonretirement Eligible Employees in Accordance with grant agreements			$ 201
Torrance Valley Pipeline Company LLC [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Noncontrolling Interest in Variable Interest Entity						50.00%
IDR Restructuring [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Units issued in connection with the IDR Restructuring			$ 0		$ 215,300
Torrance Valley Pipeline Company LLC [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Distributions declared					$ (6,500)
Limited Partner, Public [Member]
Capital Unit [Line Items]
Limited partner interest percentage			51.80%				51.80%
Increase (Decrease) in Partners' Capital [Roll Forward]
Cash distribution	$ 16,732
Limited Partner, Affiliate [Member] | PBF LLC [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Cash distribution	$ 15,576
Common Units [Member]
Capital Unit [Line Items]
Common units outstanding			62,151,391		55,348,821		62,151,391	62,130,035		45,348,663
Increase (Decrease) in Partners' Capital [Roll Forward]
Distributions declared			$ (18,844)		$ (31,952)
Common Units [Member] | Public Unit Holders [Member]
Capital Unit [Line Items]
Units owned			32,197,760				32,197,760
Common Units [Member] | Limited Partner, Affiliate [Member] | PBF LLC [Member]
Capital Unit [Line Items]
Units owned			29,953,631				29,953,631
Common Units [Member] | Limited Partner [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance			$ 105,083		23,718	$ 23,718
Quarterly distributions to unitholders ($0.5200 per unit)			(32,703)		(28,313)
Distributions declared					0
Net income attributable to the partners			34,813		17,357
Unit-based compensation expense*			1,302	[1]	964
Other			(6)		259
Ending balance			$ 108,489		$ 13,985		$ 108,489
Shares, Issued			0		10,000,000
Noncontrolling Interest [Member] | PBF LLC [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance					$ 169,472	$ 169,472
Quarterly distributions to unitholders ($0.5200 per unit)					0
Distributions declared					(6,500)
Net income attributable to the partners					4,719
Unit-based compensation expense*					0
Other					0
Ending balance					$ 167,691
Torrance Valley Pipeline Company LLC [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage						50.00%
Wholly Owned Subsidiary, Percentage of Ownership							100.00%
PBF LLC [Member] | Limited Partner, Affiliate [Member]
Capital Unit [Line Items]
Limited partner interest percentage			48.20%				48.20%
Common Units [Member] | IDR Restructuring [Member]
Capital Unit [Line Items]
Shares, Issued									10,000,000
Phantom Unit Award [Member] | Common Units [Member] | Limited Partner [Member]
Capital Unit [Line Items]
Shares, Issued								292,341
Increase (Decrease) in Partners' Capital [Roll Forward]
Shares, Issued			21,356		158
[1]	* Inclusive of $201 of expense associated with the accelerated vesting of phantom units in March 2020 for nonretirement eligible employees in accordance with their grant agreements.

EQUITY CASH DISTRIBUTIONS (Deta

EQUITY CASH DISTRIBUTIONS (Details) - USD ($) $ / shares in Units, $ in Thousands		Feb. 25, 2020	Mar. 31, 2020	Mar. 31, 2019
Distribution Made to Limited Partner [Line Items]
Cash distribution		$ 32,308
Distributions declared			$ 18,844	$ 31,952
Cash distribution (in dollars per share)		$ 0.5200	$ 0.52	$ 0.505
Cash Distribution Declared Per Unit			$ 0.30	$ 0.51
Cash Distribution [Member]
Distribution Made to Limited Partner [Line Items]
Distributions declared	[1]		$ 18,705	$ 31,716
Common Units [Member]
Distribution Made to Limited Partner [Line Items]
Distributions declared			$ 18,844	$ 31,952
Limited Partner, Public [Member]
Distribution Made to Limited Partner [Line Items]
Cash distribution		$ 16,732
Limited Partner, Affiliate [Member] | PBF LLC [Member]
Distribution Made to Limited Partner [Line Items]
Cash distribution		$ 15,576
[1]	Excludes phantom unit distributions, which are accrued and paid upon vesting.

NET INCOME PER UNIT (Details)

NET INCOME PER UNIT (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Distributions declared	$ 18,844	$ 31,952
Weighted-average units outstanding - basic (in shares)	62,370,927	49,151,927
Weighted-average units outstanding - diluted (in shares)	62,473,094	49,318,133
Net income per limited partner unit - basic (in dollars per share)	$ 0.56	$ 0.35
Net income per limited partner unit - diluted (in dollars per share)	$ 0.56	$ 0.35
Phantom Unit Award [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	168,000	0
Common Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Distributions declared	$ 18,844	$ 31,952
Earnings less distributions	15,969	(14,595)
Net income attributable to the partners	$ 34,813	$ 17,357

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Oct. 01, 2018	Mar. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies		$ 2,316	$ 2,347
Business Combination, Contingent Consideration, Discount Rate		6.00%
Business Combination, Contingent Consideration, Risk Free Rate of Return		2.90%
East Coast Storage Assets Acquisition [Member]
Loss Contingencies [Line Items]
Term of Agreement	3 years
Business Combination, Contingent Consideration, Liability		$ 27,026	$ 26,086
Business Combination, Contingent Consideration, Blended Discount Rate		8.79%	8.79%
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 31,006

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
PBF Holding [Member] | Fifth Amended and Restated Omnibus Agreement [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Annual Fee Increase	$ 8,275

RELATED PARTY TRANSACTIONS - _2

RELATED PARTY TRANSACTIONS - SUMMARY OF TRANSACTION (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Related Party Transactions [Abstract]
Revenue	$ 75,543	$ 71,332
Operating and maintenance expenses	2,171	2,105
General and administrative expenses	$ 1,996	$ 1,762

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Reportable segments | segment	2
Total revenue	$ 93,029	$ 78,845
Depreciation and amortization	11,282	8,721
Income (loss) from operations	47,653	34,198
Other expense	12,840	12,122
Capital expenditures	6,080	11,220
Total assets	1,088,743		$ 973,002
Terminaling Segment [Member]
Segment Reporting Information [Line Items]
Total revenue	70,243	65,959
Depreciation and amortization	7,072	6,901
Income (loss) from operations	41,268	36,551
Other expense	0	0
Capital expenditures	3,626	10,544
Total assets	747,200		726,374
Storage Segment [Member]
Segment Reporting Information [Line Items]
Total revenue	22,786	12,886
Depreciation and amortization	4,210	1,820
Income (loss) from operations	10,772	3,657
Other expense	0	0
Capital expenditures	2,454	676
Total assets	234,652		228,495
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Total revenue	0	0
Depreciation and amortization	0	0
Income (loss) from operations	(4,387)	(6,010)
Other expense	12,840	12,122
Capital expenditures	0	$ 0
Total assets	$ 106,891		$ 18,133

Subsequent events (Details)

Subsequent events (Details)	May 15, 2020$ / shares
Subsequent Event [Member]
Subsequent Event [Line Items]
Cash distribution (in dollars per share)	$ 0.30