Pay vs Performance Disclosure - USD ($) | 12 Months Ended |
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pay vs Performance Disclosure | | | | |
Pay vs Performance Disclosure, Table | Pay Versus Performance The table below sets forth the compensation values reported in the Summary Compensation Table for our principal executive officers (“PEOs”), and, on an average basis, our other non-PEO (“non-PEO NEOs”), Year Summary (1) Summary (1) Compensation (5) Compensation (5) Average Non-PEO (1) Average Non-PEO (5) Value of Initial (2) Net Adjusted (4) TSR Peer (3) 2023 $ 24,222,167 $ 15,527,818 $ 2,226,390, $ 18,708,991 $ 2,983,412 $ 3,222,651 $ 123 $ 188 $ 1,589,666 $ 3,328,085 2022 $ 13,801,052 $ — $ 18,874,937 $ — $ 4,070,992 $ 2,945,488 $ 111 $ 154 $ 2,922,668 $ 4,749,520 2021 $ 11,473,664 $ — $ 13,340,515 $ — $ 3,330,663 $ 4,065,737 $ 69 $ 88 $ 558,324 $ 1,023,192 2020 $ 7,646,095 $ — $ 6,397,644 $ — $ 3,452,842 $ 2,692,446 $ 54 $ 65 $ (601,448 ) $ 495,242 (1) The sole PEO for reporting years 2022, 2021 and 2020 is Michael C. Jennings. The PEOs for 2023 are Michael C. Jennings, who served as our Chief Executive Officer for a portion of 2023 and is referred to as the “First PEO” above, and Timothy Go who was promoted to the position of Chief Executive Officer and President, effective May 9, 2023, and is referred to as the “Second PEO” above. The non-PEO NEOs (a) 2023: Atanas H. Atanasov, Vaishali S. Bhatia, Valerie Pompa and Steven C. Ledbetter. (b) 2022: Atanas H. Atanasov, Timothy Go, Vaishali S. Bhatia, Richard L. Voliva III (former Executive Vice President and Chief Financial Officer) and Thomas G. Creery (former President, Renewables). (c) 2021: Richard L. Voliva III, Timothy Go, Thomas G. Creery, and Vaishali S. Bhatia. (d) 2020: Richard L. Voliva III, Timothy Go, Thomas G. Creery, and Bruce A. Lerner. (2) Cumulative TSR is measured as of a base period of December 31, 2019 and determined based on the value of an initial fixed investment of $100. (3) The peer group used for relative TSR is the Incentive Peer Group, which is the same peer group the Company uses for its Item 201(e) of Regulation S-K. (4) The Company-selected measure is AICP Adjusted EBITDA, which is a performance measure used in the calculation of our annual cash incentive awards. Calculation of AICP Adjusted EBITDA differs from the calculation of EBITDA as reported in our financial statements. See Appendix A for the specific adjustments and the reconciliation of AICP Adjusted EBITDA to net income, the most directly comparable GAAP financial measure, for the periods presented. The time period for the AICP Adjusted EBITDA disclosed in the table above differs from the actual AICP Adjusted EBITDA used in the calculation of the 2023, 2022, 2021 and 2020 annual incentive awards because the AICP Adjusted EBITDA disclosed in the table is calculated based on the fiscal year ended December 31, 2023, 2022, 2021 and 2020 to align with the period of the other compensation and financial measures reported in the table. The AICP Adjusted EBITDA actually used in the calculation of the annual incentive awards our NEOs received is based on the actual annual incentive award performance period, which commences on October 1 of the previous year and runs through September 30 of the current year. Therefore, the AICP Adjusted EBITDA disclosed in the table is not the actual AICP Adjusted EBITDA that was used in the calculation of the annual incentive awards the NEOs received for the periods presented. See “—2023 Executive Compensation Decisions (5) The SEC rules require that certain adjustments be made to the Summary Compensation Table totals to determine CAP, as reported in the Pay versus Performance table above. The following table details the applicable adjustments that were made to determine CAP. We note that while the adjustments shown below for the First PEO with respect to the 2022 year were correct in last year’s proxy statement filing, there was a summation error when transferring that total amount to the main table above, which has now been corrected to accurately reflect the individual adjustments from 2022. We do not sponsor or maintain any defined benefit pension plans and therefore, no deduction was made related to pension value for any year. Year Executives SCT Deduct Add Year- End Fair Add/(Less) Add Fair Add/(Less) Less Fair Add Compensation 2023 First (1) $ 24,222,167 $ (20,838,893 ) $ 8,038,145 $ — $ 11,144,156 $ — $ (21,168,698 ) $ 829,513 $ 2,226,390 Second (2) $ 15,527,818 $ (12,336,306 ) $ 13,495,689 $ (766,595 ) $ 862,702 $ 1,411,791 $ — $ 513,891 $ 18,708,991 2022 PEO (1) $ 13,801,052 $ (9,180,707 ) $ 7,070,235 $ 1,665,802 $ — $ 4,914,851 $ — $ 603,703 $ 18,874,937 2021 PEO (1) $ 11,473,664 $ (7,357,061 ) $ 7,645,683 $ 1,120,380 $ — $ 351,859 $ — $ 105,990 $ 13,340,515 2020 PEO (1) $ 7,646,095 $ (4,646,371 ) $ 5,904,093 $ (2,234,562 ) $ — ($ 503,911 ) $ — $ 232,300 $ 6,397,644 2023 NEO $ 2,983,412 $ (1,718,155 ) $ 1,841,826 $ (229,844 ) $ 37,440 $ 222,210 $ — $ 85,762 $ 3,222,651 2022 NEO $ 4,070,992 $ (2,293,733 ) $ 1,207,123 $ 261,265 $ 767,495 $ 308,730 $ (1,484,862 ) $ 108,477 $ 2,945,488 2021 NEO $ 3,330,663 $ (1,692,456 ) $ 1,730,914 $ 364,473 $ — $ 278,571 $ — $ 53,572 $ 4,065,737 2020 NEO $ 3,452,842 $ (2,167,648 ) $ 2,466,908 $ (476,265 ) $ — $ (666,497 ) $ — $ 83,107 $ 2,692,446 (1) Represents PEO compensation for Mr. Jennings. (2) Represents PEO compensation for Mr. Go. | | | |
Company Selected Measure Name | AICP Adjusted EBITDA | | | |
Named Executive Officers, Footnote | (a) 2023: Atanas H. Atanasov, Vaishali S. Bhatia, Valerie Pompa and Steven C. Ledbetter. (b) 2022: Atanas H. Atanasov, Timothy Go, Vaishali S. Bhatia, Richard L. Voliva III (former Executive Vice President and Chief Financial Officer) and Thomas G. Creery (former President, Renewables). (c) 2021: Richard L. Voliva III, Timothy Go, Thomas G. Creery, and Vaishali S. Bhatia. (d) 2020: Richard L. Voliva III, Timothy Go, Thomas G. Creery, and Bruce A. Lerner. | | | |
Peer Group Issuers, Footnote | The peer group used for relative TSR is the Incentive Peer Group, which is the same peer group the Company uses for its Item 201(e) of Regulation S-K. | | | |
Adjustment To PEO Compensation, Footnote | (5) The SEC rules require that certain adjustments be made to the Summary Compensation Table totals to determine CAP, as reported in the Pay versus Performance table above. The following table details the applicable adjustments that were made to determine CAP. We note that while the adjustments shown below for the First PEO with respect to the 2022 year were correct in last year’s proxy statement filing, there was a summation error when transferring that total amount to the main table above, which has now been corrected to accurately reflect the individual adjustments from 2022. We do not sponsor or maintain any defined benefit pension plans and therefore, no deduction was made related to pension value for any year. Year Executives SCT Deduct Add Year- End Fair Add/(Less) Add Fair Add/(Less) Less Fair Add Compensation 2023 First (1) $ 24,222,167 $ (20,838,893 ) $ 8,038,145 $ — $ 11,144,156 $ — $ (21,168,698 ) $ 829,513 $ 2,226,390 Second (2) $ 15,527,818 $ (12,336,306 ) $ 13,495,689 $ (766,595 ) $ 862,702 $ 1,411,791 $ — $ 513,891 $ 18,708,991 2022 PEO (1) $ 13,801,052 $ (9,180,707 ) $ 7,070,235 $ 1,665,802 $ — $ 4,914,851 $ — $ 603,703 $ 18,874,937 2021 PEO (1) $ 11,473,664 $ (7,357,061 ) $ 7,645,683 $ 1,120,380 $ — $ 351,859 $ — $ 105,990 $ 13,340,515 2020 PEO (1) $ 7,646,095 $ (4,646,371 ) $ 5,904,093 $ (2,234,562 ) $ — ($ 503,911 ) $ — $ 232,300 $ 6,397,644 2023 NEO $ 2,983,412 $ (1,718,155 ) $ 1,841,826 $ (229,844 ) $ 37,440 $ 222,210 $ — $ 85,762 $ 3,222,651 2022 NEO $ 4,070,992 $ (2,293,733 ) $ 1,207,123 $ 261,265 $ 767,495 $ 308,730 $ (1,484,862 ) $ 108,477 $ 2,945,488 2021 NEO $ 3,330,663 $ (1,692,456 ) $ 1,730,914 $ 364,473 $ — $ 278,571 $ — $ 53,572 $ 4,065,737 2020 NEO $ 3,452,842 $ (2,167,648 ) $ 2,466,908 $ (476,265 ) $ — $ (666,497 ) $ — $ 83,107 $ 2,692,446 (1) Represents PEO compensation for Mr. Jennings. (2) Represents PEO compensation for Mr. Go. | | | |
Non-PEO NEO Average Total Compensation Amount | $ 2,983,412 | $ 4,070,992 | $ 3,330,663 | $ 3,452,842 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,222,651 | 2,945,488 | 4,065,737 | 2,692,446 |
Adjustment to Non-PEO NEO Compensation Footnote | (5) The SEC rules require that certain adjustments be made to the Summary Compensation Table totals to determine CAP, as reported in the Pay versus Performance table above. The following table details the applicable adjustments that were made to determine CAP. We note that while the adjustments shown below for the First PEO with respect to the 2022 year were correct in last year’s proxy statement filing, there was a summation error when transferring that total amount to the main table above, which has now been corrected to accurately reflect the individual adjustments from 2022. We do not sponsor or maintain any defined benefit pension plans and therefore, no deduction was made related to pension value for any year. Year Executives SCT Deduct Add Year- End Fair Add/(Less) Add Fair Add/(Less) Less Fair Add Compensation 2023 First (1) $ 24,222,167 $ (20,838,893 ) $ 8,038,145 $ — $ 11,144,156 $ — $ (21,168,698 ) $ 829,513 $ 2,226,390 Second (2) $ 15,527,818 $ (12,336,306 ) $ 13,495,689 $ (766,595 ) $ 862,702 $ 1,411,791 $ — $ 513,891 $ 18,708,991 2022 PEO (1) $ 13,801,052 $ (9,180,707 ) $ 7,070,235 $ 1,665,802 $ — $ 4,914,851 $ — $ 603,703 $ 18,874,937 2021 PEO (1) $ 11,473,664 $ (7,357,061 ) $ 7,645,683 $ 1,120,380 $ — $ 351,859 $ — $ 105,990 $ 13,340,515 2020 PEO (1) $ 7,646,095 $ (4,646,371 ) $ 5,904,093 $ (2,234,562 ) $ — ($ 503,911 ) $ — $ 232,300 $ 6,397,644 2023 NEO $ 2,983,412 $ (1,718,155 ) $ 1,841,826 $ (229,844 ) $ 37,440 $ 222,210 $ — $ 85,762 $ 3,222,651 2022 NEO $ 4,070,992 $ (2,293,733 ) $ 1,207,123 $ 261,265 $ 767,495 $ 308,730 $ (1,484,862 ) $ 108,477 $ 2,945,488 2021 NEO $ 3,330,663 $ (1,692,456 ) $ 1,730,914 $ 364,473 $ — $ 278,571 $ — $ 53,572 $ 4,065,737 2020 NEO $ 3,452,842 $ (2,167,648 ) $ 2,466,908 $ (476,265 ) $ — $ (666,497 ) $ — $ 83,107 $ 2,692,446 (1) Represents PEO compensation for Mr. Jennings. (2) Represents PEO compensation for Mr. Go. | | | |
Compensation Actually Paid vs. Total Shareholder Return | CAP vs. Company TSR and Peer Group TSR The following graph compares the CAP paid to our PEO(s), the average of the CAP paid to our non-PEO | | | |
Compensation Actually Paid vs. Net Income | CAP vs. Net Income The following graph compares the CAP paid to our PEO(s) and the average of the CAP paid to our non-PEO | | | |
Compensation Actually Paid vs. Company Selected Measure | CAP vs. AICP Adjusted EBITDA The following graph compares the CAP paid to our PEO(s) and the average of the CAP paid to our non-PEO | | | |
Total Shareholder Return Vs Peer Group | CAP vs. Company TSR and Peer Group TSR The following graph compares the CAP paid to our PEO(s), the average of the CAP paid to our non-PEO | | | |
Tabular List, Table | Disclosure of Most Important Performance Measures for Fiscal Year 2023 The table below sets forth the most important financial and non-financial non-financial Compensation and Discussion Analysis Most Important Performance Measures TSR AICP Adjusted EBITDA Available Free Cash Flow Return on Capital Employed (ROCE) Environmental, Social and Governance Reliability | | | |
Total Shareholder Return Amount | $ 123 | 111 | 69 | 54 |
Peer Group Total Shareholder Return Amount | 188 | 154 | 88 | 65 |
Net Income (Loss) | $ 1,589,666,000 | $ 2,922,668,000 | $ 558,324,000 | $ (601,448,000) |
Company Selected Measure Amount | 3,328,085,000 | 4,749,520,000 | 1,023,192,000 | 495,242,000 |
Measure:: 1 | | | | |
Pay vs Performance Disclosure | | | | |
Name | TSR | | | |
Measure:: 2 | | | | |
Pay vs Performance Disclosure | | | | |
Name | AICP Adjusted EBITDA | | | |
Measure:: 3 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Available Free Cash Flow | | | |
Measure:: 4 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Return on Capital Employed (ROCE) | | | |
Measure:: 5 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Environmental, Social and Governance | | | |
Measure:: 6 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Reliability | | | |
Michael C. Jennings [Member] | | | | |
Pay vs Performance Disclosure | | | | |
PEO Total Compensation Amount | $ 24,222,167 | $ 13,801,052 | $ 11,473,664 | $ 7,646,095 |
PEO Actually Paid Compensation Amount | $ 2,226,390 | 18,874,937 | 13,340,515 | 6,397,644 |
PEO Name | Michael C. Jennings | | | |
Timothy Go [Member] | | | | |
Pay vs Performance Disclosure | | | | |
PEO Total Compensation Amount | $ 15,527,818 | | | |
PEO Actually Paid Compensation Amount | $ 18,708,991 | | | |
PEO Name | Timothy Go | | | |
PEO | Michael C. Jennings [Member] | Deduct SCT Stock [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ (20,838,893) | (9,180,707) | (7,357,061) | (4,646,371) |
PEO | Michael C. Jennings [Member] | YearEnd Fair Value of Unvested Awards Granted in Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 8,038,145 | 7,070,235 | 7,645,683 | 5,904,093 |
PEO | Michael C. Jennings [Member] | Change in Fair Value of Unvested Awards Granted in Prior Years [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | 1,665,802 | 1,120,380 | (2,234,562) |
PEO | Michael C. Jennings [Member] | Fair Value of Awards Granted and Vested in Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 11,144,156 | | | |
PEO | Michael C. Jennings [Member] | Change in Fair Value of Vested Awards Granted in Prior Years [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | 4,914,851 | 351,859 | (503,911) |
PEO | Michael C. Jennings [Member] | Fair Value of Prior Year Awards that Failed To Vest in Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (21,168,698) | | | |
PEO | Michael C. Jennings [Member] | Dividends Not Included in SCT [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 829,513 | 603,703 | 105,990 | 232,300 |
PEO | Timothy Go [Member] | Deduct SCT Stock [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (12,336,306) | | | |
PEO | Timothy Go [Member] | YearEnd Fair Value of Unvested Awards Granted in Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 13,495,689 | | | |
PEO | Timothy Go [Member] | Change in Fair Value of Unvested Awards Granted in Prior Years [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (766,595) | | | |
PEO | Timothy Go [Member] | Fair Value of Awards Granted and Vested in Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 862,702 | | | |
PEO | Timothy Go [Member] | Change in Fair Value of Vested Awards Granted in Prior Years [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 1,411,791 | | | |
PEO | Timothy Go [Member] | Dividends Not Included in SCT [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 513,891 | | | |
Non-PEO NEO | Deduct SCT Stock [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (1,718,155) | (2,293,733) | (1,692,456) | (2,167,648) |
Non-PEO NEO | YearEnd Fair Value of Unvested Awards Granted in Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 1,841,826 | 1,207,123 | 1,730,914 | 2,466,908 |
Non-PEO NEO | Change in Fair Value of Unvested Awards Granted in Prior Years [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (229,844) | 261,265 | 364,473 | (476,265) |
Non-PEO NEO | Fair Value of Awards Granted and Vested in Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 37,440 | 767,495 | | |
Non-PEO NEO | Change in Fair Value of Vested Awards Granted in Prior Years [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 222,210 | 308,730 | 278,571 | (666,497) |
Non-PEO NEO | Fair Value of Prior Year Awards that Failed To Vest in Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | (1,484,862) | | |
Non-PEO NEO | Dividends Not Included in SCT [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ 85,762 | $ 108,477 | $ 53,572 | $ 83,107 |