HF Sinclair (DINO) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-41325
Entity Registrant Name	HF SINCLAIR CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-2092143
Entity Address, Address Line One	2828 N. Harwood,
Entity Address, Address Line Two	Suite 1300
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
City Area Code	214
Local Phone Number	871-3555
Title of 12(b) Security	Common Stock $0.01 par value
Trading Symbol	DINO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		184,113,437
Entity Central Index Key	0001915657
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents (HEP:$7,845 and $10,917, respectively)	$ 1,614,618	$ 1,665,066
Accounts receivable: Product, transportation and other (HEP: $13,570 and $16,344, respectively)	1,460,850	1,626,199
Crude oil resales	169,769	76,950
Accounts receivable, total	1,630,619	1,703,149
Inventories: Crude oil and refined products	2,878,185	2,853,425
Materials, supplies and other (HEP: $1,370 and $1,246, respectively)	380,423	361,103
Total inventory	3,258,608	3,214,528
Income taxes receivable	111,906	53,563
Prepayments and other (HEP: $4,564 and $5,699, respectively)	77,065	112,013
Total current assets	6,692,816	6,748,319
Properties, plants and equipment, at cost (HEP: $2,200,297 and $2,173,248, respectively)	10,312,656	10,146,652
Less accumulated depreciation (HEP: $(804,084) and $(761,210), respectively)	(3,684,833)	(3,457,747)
Properties, plants and equipment, net	6,627,823	6,688,905
Operating lease right-of-use assets (HEP: $64,456 and $66,382, respectively)	318,167	351,068
Other assets: Turnaround costs (HEP: $22,454 and $24,154, respectively)	600,782	376,158
Goodwill (HEP: $431,985 and $431,985, respectively)	2,978,546	2,978,315
Intangibles and other (HEP: $349,719 and $360,768, respectively)	978,871	982,718
Other assets, total	4,558,199	4,337,191
Total assets	18,197,005	18,125,483
Current liabilities:
Accounts payable (HEP: $25,223 and $27,199, respectively)	2,001,215	2,334,107
Income taxes payable	4,203	7,818
Operating lease liabilities (HEP: $4,090 and $4,204, respectively)	108,513	109,926
Current debt	307,551	306,959
Accrued liabilities (HEP: $30,443 and $39,110, respectively)	466,425	486,719
Total current liabilities	2,887,907	3,245,529
Long-term debt (HEP: $1,495,442 and $1,556,334, respectively)	2,888,472	2,948,513
Noncurrent operating lease liabilities (HEP: $60,736 and $62,550, respectively)	219,963	254,215
Deferred income taxes (HEP: $339 and $374, respectively)	1,323,246	1,262,165
Other long-term liabilities (HEP: $50,845 and $55,373, respectively)	386,713	397,489
HF Sinclair stockholders’ equity:
Preferred stock, $1.00 par value – 5,000,000 shares authorized; none issued	0	0
Common stock $.01 par value – 320,000,000 shares authorized; 223,231,546 shares issued as of June 30, 2023 and December 31, 2022	2,232	2,232
Additional capital	6,480,581	6,468,775
Retained earnings	4,815,908	4,130,252
Accumulated other comprehensive loss	(13,379)	(22,013)
Common stock held in treasury, at cost – 30,918,109 and 26,152,344 shares as of June 30, 2023 and December 31, 2022, respectively	(1,576,390)	(1,335,431)
Total HF Sinclair stockholders’ equity	9,708,952	9,243,815
Noncontrolling interest	781,752	773,757
Total equity	10,490,704	10,017,572
Total liabilities and equity	$ 18,197,005	$ 18,125,483

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash and cash equivalents	$ 1,614,618	$ 1,665,066
Accounts receivable: product, transportation and other	1,460,850	1,626,199
Inventories: materials, supplies and other	380,423	361,103
Prepayments and other	77,065	112,013
Properties, plants and equipment, at cost	10,312,656	10,146,652
Accumulated depreciation	(3,684,833)	(3,457,747)
Operating lease right-of-use asset	318,167	351,068
Turnaround costs	600,782	376,158
Goodwill	2,978,546	2,978,315
Intangibles and other	978,871	982,718
Accounts payable	2,001,215	2,334,107
Operating lease liabilities	108,513	109,926
Accrued liabilities	466,425	486,719
Long-term debt	2,888,472	2,948,513
Noncurrent operating lease liabilities	219,963	254,215
Deferred income taxes	1,323,246	1,262,165
Other long-term liabilities	$ 386,713	$ 397,489
Preferred stock par value (in USD per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	320,000,000	320,000,000
Common stock, shares issued (in shares)	223,231,546	223,231,546
Common stock held in treasury (in shares)	30,918,109	26,152,344
HEP
Cash and cash equivalents	$ 7,845	$ 10,917
Accounts receivable: product, transportation and other	13,570	16,344
Inventories: materials, supplies and other	1,370	1,246
Prepayments and other	4,564	5,699
Properties, plants and equipment, at cost	2,200,297	2,173,248
Accumulated depreciation	(804,084)	(761,210)
Operating lease right-of-use asset	64,456	66,382
Turnaround costs	22,454	24,154
Goodwill	431,985	431,985
Intangibles and other	349,719	360,768
Accounts payable	25,223	27,199
Operating lease liabilities	4,090	4,204
Accrued liabilities	30,443	39,110
Long-term debt	1,495,442	1,556,334
Noncurrent operating lease liabilities	60,736	62,550
Deferred income taxes	339	374
Other long-term liabilities	$ 50,845	$ 55,373

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Sales and other revenues	$ 7,833,646	$ 11,162,160	$ 15,398,788	$ 18,620,910
Cost of products sold (exclusive of depreciation and amortization):
Cost of products sold (exclusive of lower of cost or market inventory valuation adjustment)	6,273,605	8,579,915	12,377,662	15,081,927
Lower of cost or market inventory valuation adjustment	(7,863)	34,543	39,734	25,992
Total costs of products sold (exclusive of depreciation and amortization)	6,265,742	8,614,458	12,417,396	15,107,919
Operating expenses (exclusive of depreciation and amortization)	546,800	606,127	1,186,183	1,083,561
Selling, general and administrative expenses (exclusive of depreciation and amortization)	127,388	110,875	223,301	221,297
Depreciation and amortization	189,360	164,044	363,343	308,645
Total operating costs and expenses	7,129,290	9,495,504	14,190,223	16,721,422
Income from operations	704,356	1,666,656	1,208,565	1,899,488
Other income (expense):
Earnings of equity method investments	3,545	5,447	7,427	9,073
Interest income	17,591	1,844	37,526	2,841
Interest expense	(46,982)	(38,961)	(92,804)	(73,820)
Gain (loss) on foreign currency transactions	748	(905)	1,618	(766)
Gain on sale of assets and other	1,152	2,320	2,783	6,215
Other income (expense) total	(23,946)	(30,255)	(43,450)	(56,457)
Income before income taxes	680,410	1,636,401	1,165,115	1,843,031
Income tax expense:
Current	100,429	342,836	184,824	389,099
Deferred	45,496	40,657	60,801	15,723
Income tax expense (benefit) total	145,925	383,493	245,625	404,822
Net income	534,485	1,252,908	919,490	1,438,209
Less net income attributable to noncontrolling interest	26,824	31,646	58,563	56,973
Net income attributable to HF Sinclair stockholders	$ 507,661	$ 1,221,262	$ 860,927	$ 1,381,236
Earnings per share:
Basic (in USD per share)	$ 2.62	$ 5.43	$ 4.40	$ 6.86
Diluted (in USD per share)	$ 2.62	$ 5.43	$ 4.40	$ 6.86
Average number of common shares outstanding:
Basic (in shares)	192,348	222,952	193,888	199,149
Diluted (in shares)	192,348	222,952	193,888	199,149

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 534,485	$ 1,252,908	$ 919,490	$ 1,438,209
Other comprehensive income (loss):
Foreign currency translation adjustment	9,852	(17,886)	12,778	(16,165)
Change in fair value of cash flow hedging instruments	0	0	270	(4,962)
Reclassification adjustments to net income on settlement of cash flow hedging instruments	(271)	0	(270)	5,288
Net unrealized gain (loss) on hedging instruments	(271)	0	0	326
Net change in pension and other post-retirement benefit obligations	(960)	(906)	(1,920)	(1,812)
Other comprehensive income (loss) before income taxes	8,621	(18,792)	10,858	(17,651)
Income tax expense (benefit)	1,777	(3,996)	2,224	(3,771)
Other comprehensive income (loss)	6,844	(14,796)	8,634	(13,880)
Total comprehensive income	541,329	1,238,112	928,124	1,424,329
Less noncontrolling interest in comprehensive income	26,824	31,646	58,563	56,973
Comprehensive income attributable to HF Sinclair stockholders	514,505	1,206,466	869,561	1,367,356
Actuarial loss on pension plans
Other comprehensive income (loss):
Plan gain reclassified to net income	(45)	(45)	(90)	(90)
Actuarial gain on post-retirement healthcare plans
Other comprehensive income (loss):
Plan gain reclassified to net income	(918)	(870)	(1,836)	(1,740)
Retirement restoration plan
Other comprehensive income (loss):
Retirement restoration plan loss reclassified to net income	$ 3	$ 9	$ 6	$ 18

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 919,490	$ 1,438,209
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	363,343	308,645
Lower of cost or market inventory valuation adjustment	39,734	25,992
Earnings of equity method investments, inclusive of distributions	3,053	933
Gain on sale of assets	(504)	(2,917)
Deferred income taxes	60,801	15,723
Equity-based compensation expense	14,894	14,882
Change in fair value – derivative instruments	9,270	(12,103)
(Increase) decrease in current assets:
Accounts receivable	75,586	(581,519)
Inventories	(75,361)	(622,519)
Income taxes receivable	(57,850)	81,137
Prepayments and other	24,475	(2,103)
Increase (decrease) in current liabilities:
Accounts payable	(319,691)	942,663
Income taxes payable	(3,639)	335,606
Accrued liabilities	(17,498)	92,988
Turnaround expenditures	(347,145)	(70,150)
Other, net	(21,293)	23,925
Net cash provided by operating activities	667,665	1,989,392
Cash flows from investing activities:
Additions to properties, plants and equipment	(163,986)	(294,494)
Acquisitions, net of cash acquired	0	(231,201)
Proceeds from sale of assets	1,682	3,341
Distributions from equity method investments in excess of equity earnings	5,288	6,589
Net cash used for investing activities	(176,280)	(539,011)
Cash flows from financing activities:
Borrowings under credit agreements	55,000	410,000
Repayments under credit agreements	(117,000)	(529,000)
Purchase of treasury stock	(248,031)	(110,784)
Dividends	(175,271)	(90,158)
Distributions to noncontrolling interests	(51,285)	(44,900)
Payments on finance leases	(6,206)	(5,668)
Deferred financing costs	0	(9,071)
Other, net	0	(247)
Net cash provided by (used for) financing activities	(542,793)	20,172
Effect of exchange rate on cash flow	960	(2,711)
Cash and cash equivalents:
Increase (decrease) for the period	(50,448)	1,467,842
Beginning of period	1,665,066	234,444
End of period	1,614,618	1,702,286
Cash (paid) received during the period for:
Interest	(93,748)	(68,942)
Income taxes, net	(249,362)	21,598
Increase (decrease) in accrued and unpaid capital expenditures	(11,528)	(34,849)
HEP
Cash flows from investing activities:
Additions to properties, plants and equipment	(16,264)	(23,246)
HEP investment in Osage Pipe Line Company LLC	(3,000)	0
Cash flows from financing activities:
Proceeds from issuance of senior notes	$ 0	$ 400,000

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Capital	Retained Earnings	Accumulated other comprehensive loss	Treasury Stock	Non-controlling Interest
Common stock outstanding at beginning of period (in shares) at Dec. 31, 2021		256,046,000
Stockholders' equity at beginning of period at Dec. 31, 2021	$ 6,294,465	$ 2,560	$ 4,220,075	$ 4,413,836	$ 2,671	$ (2,951,257)	$ 606,580
Treasury stock outstanding at beginning of period (in shares) at Dec. 31, 2021						93,045,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,438,209			1,381,236			56,973
Dividends	(90,158)			(90,158)
Other comprehensive income (loss), net of tax	(13,880)				(13,880)
Issuance of common shares for HFC Transactions (in shares)		60,230,000
Issuance of common shares for HFC Transactions	2,149,008	$ 602	2,148,406
Issuance of common shares under incentive compensation plans (in shares)						(19,000)
Issuance of common shares under incentive compensation plans	0		(606)			$ 606
Equity-based compensation	14,882		13,642				1,240
Purchase of treasury stock, inclusive of excise tax (in shares)						2,742,000
Purchase of treasury stock, inclusive of excise tax	(132,803)					$ (132,803)
Retirement of treasury stock (in shares)		(93,045,000)				(93,045,000)
Retirement of treasury stock	0	$ (930)		(2,950,324)		$ 2,951,254
Distributions to noncontrolling interest holders	(44,900)						(44,900)
Purchase of HEP units for equity grants	(77)						(77)
Equity attributable to HEP common unit issuance, net of tax	318,439		95,047				223,392
Acquisition of remaining UNEV interests	(58,275)		19,735				(78,010)
Common stock outstanding at end of period (in shares) at Jun. 30, 2022		223,231,000
Stockholders' equity at end of period at Jun. 30, 2022	9,874,910	$ 2,232	6,496,299	2,754,590	(11,209)	$ (132,200)	765,198
Treasury stock outstanding at end of period (in shares) at Jun. 30, 2022						2,723,000
Common stock outstanding at beginning of period (in shares) at Mar. 31, 2022		223,231,000
Stockholders' equity at beginning of period at Mar. 31, 2022	8,876,977	$ 2,232	6,486,994	1,623,486	3,587	$ (73)	760,751
Treasury stock outstanding at beginning of period (in shares) at Mar. 31, 2022						2,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,252,908			1,221,262			31,646
Dividends	(90,158)			(90,158)
Other comprehensive income (loss), net of tax	(14,796)				(14,796)
Issuance of common shares under incentive compensation plans (in shares)						(12,000)
Issuance of common shares under incentive compensation plans	0		(324)			$ 324
Equity-based compensation	7,051		6,431				620
Purchase of treasury stock, inclusive of excise tax (in shares)						2,733,000
Purchase of treasury stock, inclusive of excise tax	(132,451)					$ (132,451)
Distributions to noncontrolling interest holders	(27,897)						(27,897)
Purchase of HEP units for equity grants	(20)						(20)
Equity attributable to HEP common unit issuance, net of tax	(79)						(79)
Acquisition of remaining UNEV interests	3,375		3,198				177
Common stock outstanding at end of period (in shares) at Jun. 30, 2022		223,231,000
Stockholders' equity at end of period at Jun. 30, 2022	9,874,910	$ 2,232	6,496,299	2,754,590	(11,209)	$ (132,200)	765,198
Treasury stock outstanding at end of period (in shares) at Jun. 30, 2022						2,723,000
Common stock outstanding at beginning of period (in shares) at Dec. 31, 2022		223,231,000
Stockholders' equity at beginning of period at Dec. 31, 2022	$ 10,017,572	$ 2,232	6,468,775	4,130,252	(22,013)	$ (1,335,431)	773,757
Treasury stock outstanding at beginning of period (in shares) at Dec. 31, 2022	26,152,344					26,152,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 919,490			860,927			58,563
Dividends	(175,271)			(175,271)
Other comprehensive income (loss), net of tax	8,634				8,634
Issuance of common shares under incentive compensation plans (in shares)						(46,000)
Issuance of common shares under incentive compensation plans	0		(2,370)			$ 2,370
Equity-based compensation	14,894		14,176				718
Purchase of treasury stock, inclusive of excise tax (in shares)						4,812,000
Purchase of treasury stock, inclusive of excise tax	(243,329)					$ (243,329)
Distributions to noncontrolling interest holders	(51,285)						(51,285)
Purchase of HEP units for equity grants	(1)						(1)
Common stock outstanding at end of period (in shares) at Jun. 30, 2023		223,231,000
Stockholders' equity at end of period at Jun. 30, 2023	$ 10,490,704	$ 2,232	6,480,581	4,815,908	(13,379)	$ (1,576,390)	781,752
Treasury stock outstanding at end of period (in shares) at Jun. 30, 2023	30,918,109					30,918,000
Common stock outstanding at beginning of period (in shares) at Mar. 31, 2023		223,231,000
Stockholders' equity at beginning of period at Mar. 31, 2023	$ 10,050,527	$ 2,232	6,469,814	4,395,531	(20,223)	$ (1,576,689)	779,862
Treasury stock outstanding at beginning of period (in shares) at Mar. 31, 2023						30,924,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	534,485			507,661			26,824
Dividends	(87,284)			(87,284)
Other comprehensive income (loss), net of tax	6,844				6,844
Issuance of common shares under incentive compensation plans (in shares)						(8,000)
Issuance of common shares under incentive compensation plans	0		(436)			$ 436
Equity-based compensation	11,569		11,203				366
Purchase of treasury stock, inclusive of excise tax (in shares)						2,000
Purchase of treasury stock, inclusive of excise tax	(137)					$ (137)
Distributions to noncontrolling interest holders	(25,299)						(25,299)
Purchase of HEP units for equity grants	(1)						(1)
Common stock outstanding at end of period (in shares) at Jun. 30, 2023		223,231,000
Stockholders' equity at end of period at Jun. 30, 2023	$ 10,490,704	$ 2,232	$ 6,480,581	$ 4,815,908	$ (13,379)	$ (1,576,390)	$ 781,752
Treasury stock outstanding at end of period (in shares) at Jun. 30, 2023	30,918,109					30,918,000

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in USD per share)	$ 0.45	$ 0.40	$ 0.90	$ 0.40

Description of Business and Pre

Description of Business and Presentation of Financial Statements	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Presentation of Financial Statements	Description of Business and Presentation of Financial Statements On March 14, 2022 (the “Closing Date”), HollyFrontier Corporation (“HollyFrontier”) and Holly Energy Partners, L.P. (“HEP”) announced the establishment of HF Sinclair Corporation, a Delaware corporation (“HF Sinclair”), as the new parent holding company of HollyFrontier and HEP and their subsidiaries, and the completion of their respective acquisitions of Sinclair Oil Corporation (now known as Sinclair Oil LLC) and Sinclair Transportation Company LLC (“STC”) from The Sinclair Companies (now known as REH Company and referred to herein as “REH Company”). On the Closing Date, pursuant to that certain Business Combination Agreement, dated as of August 2, 2021 (as amended on March 14, 2022, the “Business Combination Agreement”), by and among HollyFrontier, HF Sinclair, Hippo Merger Sub, Inc., a wholly owned subsidiary of HF Sinclair (“Parent Merger Sub”), REH Company, and Hippo Holding LLC (now known as Sinclair Holding LLC), a wholly owned subsidiary of REH Company (the “Target Company”), HF Sinclair completed its previously announced acquisition of the Target Company by effecting (a) a holding company merger in accordance with Section 251(g) of the Delaware General Corporation Law whereby HollyFrontier merged with and into Parent Merger Sub, with HollyFrontier surviving such merger as a direct wholly owned subsidiary of HF Sinclair (the “HFC Merger”) and (b) immediately following the HFC Merger, a contribution whereby REH Company contributed all of the equity interests of the Target Company to HF Sinclair in exchange for 60,230,036 shares of HF Sinclair common stock, resulting in the Target Company becoming a direct wholly owned subsidiary of HF Sinclair (the “HFC Transactions”). At the effective time of the HFC Merger, HollyFrontier became a wholly owned subsidiary of HF Sinclair, and all of HollyFrontier’s outstanding shares were automatically converted into equivalent corresponding shares of HF Sinclair. Pursuant to the HFC Merger, HF Sinclair became the successor issuer to HollyFrontier pursuant to Rule 12g-3(a) under the Securities and Exchange Act of 1934, as amended, and replaced HollyFrontier as the public company trading on the New York Stock Exchange under the symbol “DINO.” See Note 2 and Note 4 for additional information. References herein to HF Sinclair, “we,” “our,” “ours,” and “us” with respect to time periods prior to March 14, 2022 refer to HollyFrontier and its consolidated subsidiaries and do not include Sinclair Holding LLC, STC or their respective consolidated subsidiaries (collectively, the “Acquired Sinclair Businesses”). References herein to HF Sinclair, “we,” “our,” “ours,” and “us” with respect to time periods from and after March 14, 2022 include the operations of the Acquired Sinclair Businesses. Unless otherwise specified, the financial statements included herein include financial information for HF Sinclair, which for the time period from March 14, 2022 to June 30, 2023 includes the combined business operations of HollyFrontier and the Acquired Sinclair Businesses. In these financial statements, the words “we,” “our,” “ours” and “us” refer only to HF Sinclair and its consolidated subsidiaries or to HF Sinclair or an individual subsidiary and not to any other person, with certain exceptions. Generally, the words “we,” “our,” “ours” and “us” include HEP and its subsidiaries as consolidated subsidiaries of HF Sinclair, unless when used in disclosures of transactions or obligations between HEP and HF Sinclair or its other subsidiaries. These financial statements contain certain disclosures of agreements that are specific to HEP and its consolidated subsidiaries and do not necessarily represent obligations of HF Sinclair. When used in descriptions of agreements and transactions, “HEP” refers to HEP and its consolidated subsidiaries. We are an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. We own and operate refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and market our refined products principally in the Southwest United States, the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. We supply high-quality fuels to more tha n 1,500 branded stations and license the use of the Sinclair brand at more than 300 ad ditional locations throughout the country. In addition, our subsidiaries produce and market base oils and other specialized lubricants in the United States, Canada and the Netherlands, and export products to more than 80 countries. Through our subsidiaries, we produce renewable diesel at two of our facilities in Wyoming and our facility in New Mexico. At June 30, 2023, we owned a 47% limited partner interest and a non-economic general partner interest in HEP, a variable interest entity (“VIE”). HEP owns and operates logistic assets consisting of petroleum product and crude oil pipelines, terminals, tankage, loading rack facilities and refinery processing units that principally support our refining and marketing operations in the Mid-Continent, Southwest and Rocky Mountains geographic regions of the United States. On May 3, 2023, we submitted a non-binding proposal to acquire all of the outstanding common units (“Common Units”) of HEP not owned by us or our affiliates (the “Proposed HEP Transaction”). The proposal has been made to the board of directors of the ultimate general partner of HEP. The Proposed HEP Transaction is subject to the negotiation and execution of a definitive agreement. There can be no assurance that a definitive agreement will be executed or that any transaction will be approved or consummated. We have prepared these consolidated financial statements without audit. In management’s opinion, these consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of our consolidated financial position as of June 30, 2023, the consolidated results of income, comprehensive income and statements of equity for the three and six months ended June 30, 2023 and 2022 and consolidated cash flows for the six months ended June 30, 2023 and 2022 in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Although certain notes and other information required by generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted, we believe that the disclosures in these consolidated financial statements are adequate to make the information presented not misleading. These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2022 that has been filed with the SEC. Accounts Receivable: Our accounts receivable primarily consist of amounts due from customers that are primarily from sales of refined products and renewable diesel. Credit is extended based on our evaluation of the customer’s financial condition, and in certain circumstances collateral, such as letters of credit or guarantees, is required. We reserve for expected credit losses based on our historical loss experience as well as expected credit losses from current economic conditions and management’s expectations of future economic conditions. Credit losses are charged to the allowance for expected credit losses when an account is deemed uncollectible. Our allowance for expected credit losses was $7.1 million at June 30, 2023 and $7.7 million at December 31, 2022. Inventories: Inventories related to our refining operations are stated at the lower of cost, using the last-in, first-out (“LIFO”) method for crude oil and unfinished and finished refined products, or market. Inventories related to our renewables business are stated at the lower of cost, using the LIFO method for feedstock and unfinished and finished renewable products, or market. In periods of rapidly declining prices, LIFO inventories may have to be written down to market value due to the higher costs assigned to LIFO layers in prior periods. In addition, the use of the LIFO inventory method may result in increases or decreases to cost of sales in years that inventory volumes decline as the result of charging cost of sales with LIFO inventory costs generated in prior periods. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and are subject to the final year-end LIFO inventory valuation. Inventories of our Petro-Canada Lubricants and Sonneborn businesses are stated at the lower of cost, using the first-in, first-out (“FIFO”) method, or net realizable value. Inventories consisting of process chemicals, materials and maintenance supplies and RINs are stated at the lower of weighted-average cost or net realizable value. Leases: At inception, we determine if an arrangement is or contains a lease. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our payment obligation under the leasing arrangement. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. We use our estimated incremental borrowing rate (“IBR”) to determine the present value of lease payments as most of our leases do not contain an implicit rate. Our IBR represents the interest rate which we would pay to borrow, on a collateralized basis, an amount equal to the lease payments over a similar term in a similar economic environment. We use the implicit rate when readily determinable. Operating leases are recorded in “Operating lease right-of-use assets” and current and noncurrent “Operating lease liabilities” on our consolidated balance sheet. Finance leases are included in “Properties, plants and equipment, at cost” and “Accrued liabilities” and “Other long-term liabilities” on our consolidated balance sheet. Our lease term includes an option to extend the lease when it is reasonably certain that we will exercise that option. Leases with a term of 12 months or less are not recorded on our balance sheet. For certain equipment leases, we apply a portfolio approach for the operating lease ROU assets and liabilities. Also, as a lessee, we separate non-lease components that are identifiable and exclude them from the determination of net present value of lease payment obligations. In addition, HEP, as a lessor, does not separate the non-lease (service) component for operating leases in contracts in which the lease component is the dominant component. HEP treats these combined components as a lease. HEP bifurcates the consideration received for sales-type lease contracts between lease and service revenue, with the service component accounted for within the scope of Accounting Standards Codification 606. Revenue Recognition: Revenues on refined product, branded fuel sales, renewable diesel, and excess crude oil sales are recognized when delivered (via pipeline, in-tank or rack) and the customer obtains control of such inventory, which is typically when title passes and the customer is billed. All revenues are reported inclusive of shipping and handling costs billed and exclusive of any taxes billed to customers. Shipping and handling costs incurred are reported as cost of products sold. Our lubricants and specialty products business has sales agreements with marketers and distributors that provide certain rights of return or provisions for the repurchase of products previously sold to them. Under these agreements, revenues and cost of revenues are deferred until the products have been sold to end customers. Our lubricants and specialty products business also has agreements that create an obligation to deliver products at a future date for which consideration has already been received and recorded as deferred revenue. This revenue is recognized when the products are delivered to the customer. HEP recognizes revenues as products are shipped through its pipelines and terminals and as other services are rendered. Additionally, HEP has certain throughput agreements that specify minimum volume requirements, whereby HEP bills a customer for a minimum level of shipments in the event a customer ships below their contractual requirements. If there are no future performance obligations, HEP recognizes these deficiency payments as revenue. In certain of these throughput agreements, a customer may later utilize such shortfall billings as credit towards future volume shipments in excess of its minimum levels within its respective contractual shortfall make-up period. Such amounts represent an obligation to perform future services, which may be initially deferred and later recognized as revenue based on estimated future shipping levels, including the likelihood of a customer’s ability to utilize such amounts prior to the end of the contractual shortfall make-up period. HEP recognizes the service portion of these deficiency payments as revenue when HEP does not expect it will be required to satisfy these performance obligations in the future based on the pattern of rights exercised by the customer. Payment terms under our contracts with customers are consistent with industry norms and are typically payable within 30 days of the date of invoice. Foreign Currency Translation: Assets and liabilities recorded in foreign currencies are translated into U.S. dollars using exchange rates in effect as of the balance sheet date. Revenue and expense accounts are translated using the weighted-average exchange rates during the period presented. Foreign currency translation adjustments are recorded as a component of accumulated other comprehensive income. We have intercompany notes that were issued to fund certain of our foreign businesses. Remeasurement adjustments resulting from the conversion of intercompany financing amounts to functional currencies are recorded as gains and losses as a component of other income (expense) in the consolidated statements of income. Such adjustments are not recorded to the Lubricants and Specialty Products segment operations, but to Corporate and Other. See Note 15 for additional information on our segments. Income Taxes: Provisions for income taxes include deferred taxes resulting from temporary differences in income for financial and tax purposes, using the liability method of accounting for income taxes. The liability method requires the effect of tax rate changes on deferred income taxes to be reflected in the period in which the rate change was enacted. The liability method also requires that deferred tax assets be reduced by a valuation allowance unless it is more likely than not that the assets will be realized. We account for U.S. tax on global intangible low-taxed income in the period in which it is incurred. Potential interest and penalties related to income tax matters are recognized in income tax expense. We believe we have appropriate support for the income tax positions taken and to be taken on our income tax returns and that our accruals for tax liabilities are adequate for all open years based on an assessment of many factors, including past experience and interpretations of tax law applied to the facts of each matter. For the six months ended June 30, 2023, we recorded an income tax expense of $245.6 million compared to $404.8 million for the six months ended June 30, 2022. This decrease was principally due to lower pre-tax income during the six months ended June 30, 2023 compared to the same period of 2022. Our effective tax rates were 21.1% and 22.0% for the six months ended June 30, 2023 and 2022, respectively. The difference between the U.S. federal statutory rate and the effective tax rate for the six months ended June 30, 2023 is primarily due to the impact of federal tax credits and the relationship between pre-tax results and the earnings attributable to the noncontrolling interest that is not included in income for tax purposes. The difference in the U.S. federal statutory rate and the effective tax rate for the six months ended June 30, 2022 was primarily due to the impact of federal tax credits and the decrease in the state tax rate applied to our deferred tax assets and liabilities as a result of the Sinclair Transactions. Inventory Repurchase Obligations: We periodically enter into same-party sell / buy transactions, whereby we sell certain refined product inventory and subsequently repurchase the inventory in order to facilitate delivery to certain locations. Such sell / buy transactions are accounted for as inventory repurchase obligations under which proceeds received under the initial sell is recognized as an inventory repurchase obligation that is subsequently reversed when the inventory is repurchased. For the six months ended June 30, 2023 and 2022, we received proceeds of $12.3 million and $21.3 million, respectively, and subsequently repai d $13.4 million and $21.4 million, respectively, under these sell / buy transactions.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions On March 14, 2022, pursuant to the Business Combination Agreement, HF Sinclair completed its acquisition of the Target Company by effecting (a) the HFC Merger and (b) immediately following the HFC Merger, a contribution whereby REH Company contributed all of the equity interests of the Target Company to HF Sinclair in exchange for shares of HF Sinclair, resulting in the Target Company becoming a direct wholly owned subsidiary of HF Sinclair. In connection with the closing of the HFC Transactions, HF Sinclair issued 60,230,036 shares of HF Sinclair common stock, par value $0.01 per share, to REH Company, representing 27% of the pro forma equity of HF Sinclair with a value of approximately $2,149 million based on HollyFrontier’s fully diluted shares of common stock outstanding and closing stock price on March 11, 2022. Pursuant to the Business Combination Agreement, REH Company made a $77.5 million cash payment to HF Sinclair, inclusive of final working capital adjustments, which reduced the aggregate transaction value to approximately $2,072 million. Of the 60,230,036 shares of HF Sinclair common stock, 2,570,000 shares are currently held in escrow to secure REH Company’s RINs credit obligations under Section 6.22 of the Business Combination Agreement. Additionally, on the Closing Date, and immediately prior to the consummation of the HFC Transactions, HEP completed its acquisition of STC, REH Company’s integrated crude and refined products midstream business, and issued 21,000,000 common limited partner units and paid cash consideration of $329.0 million, inclusive of final working capital adjustments, to REH Company in exchange for all the outstanding equity interests of STC (the “HEP Transaction” and together with the HFC Transactions, the “Sinclair Transactions”). Of these 21,000,000 common limited partner units, 5,290,000 units were held in escrow and were released to REH Company in April 2023 upon their satisfaction of the corresponding RINs credit obligations to HF Sinclair to secure REH Company’s RINs credit obligations under Section 6.22 of the Business Combination Agreement. The Sinclair Transactions were accounted for as a business combination using the acquisition method of accounting, with the assets acquired and liabilities assumed at their respective acquisition date fair values at the effective date, with the excess consideration recorded as goodwill. The following tables present the purchase consideration and final purchase price allocation of the assets acquired and liabilities assumed on March 14, 2022: Purchase Consideration (in thousands except for per share amounts) Shares of HF Sinclair common stock issued 60,230 Closing price per share of HFC common stock (1) $ 35.68 Purchase consideration paid in HF Sinclair common stock 2,149,008 Shares of HEP common units issued to Sinclair 21,000 Closing price per share of HEP common units (2) $ 16.62 Purchase consideration paid in HEP common units 349,020 Total equity consideration 2,498,028 Cash consideration paid by HEP 328,955 Cash consideration received by HF Sinclair (77,507) Total cash consideration 251,448 Total purchase consideration $ 2,749,476 (1) Based on the HollyFrontier closing stock price on March 11, 2022. (2) Based on the HEP closing unit price on March 11, 2022. (In thousands) Assets Acquired Accounts receivable $ 467,530 Inventories: Crude oil and refined products 906,461 Inventories: Materials, supplies and other 39,350 Properties, plants and equipment 1,242,549 Operating lease right-of-use assets 4,585 Other assets: Intangibles and other 495,621 Total assets acquired $ 3,156,096 Liabilities Assumed Accounts payable $ 564,385 Operating lease liabilities 1,030 Accrued liabilities 84,298 Noncurrent operating lease liabilities 3,554 Deferred income taxes 351,189 Other long-term liabilities 88,098 Total liabilities assumed $ 1,092,554 Net assets acquired $ 2,063,542 Goodwill $ 685,934 The final purchase price allocation resulted in the recognition of $685.9 million in goodwill. Our Refining, Renewables, Marketing and HEP segments recognized $244.0 million, $159.0 million, $163.8 million and $119.1 million of goodwill, respectively. The goodwill recognized is primarily attributable to operating and administrative synergies and net deferred tax liabilities arising from the differences between the estimated fair values of assets and liabilities and the tax basis of these assets and liabilities. There are qualitative assumptions of long-term factors that this acquisition creates for our stockholders, including increased scale and diversification that is expected to drive growth through the expanded refining and renewables businesses and the addition of an integrated branded wholesale distribution network. This goodwill is not deductible for income tax purposes. The fair value measurements for properties, plants and equipment were based on significant inputs that are not observable in the market and, therefore, represent Level 3 measurements. The fair value of properties, plants and equipment was based on the combination of the cost and market approaches. Key assumptions in the cost approach include determining the replacement cost by evaluating recent published data and adjusting replacement cost for physical deterioration, functional, and economic obsolescence. We used the market approach to measure the value of certain assets through an analysis of recent sales or offerings of comparable properties. The fair value of crude oil and refined products inventory was based on market prices as of the acquisition date. Intangibles include the Sinclair trade name, fuel agreements and customer relationships totaling $221.4 million that are being amortized on a straight-line basis over a range of four The fair value of equity method investments totaled $234.3 million and was based on a combination of valuation methods including discounted cash flows and the guideline public company method. Accrued liabilities include $70.6 million of RINs credit obligations, including 2022 obligations through the Closing Date, which were valued based on market prices for RINs at the effective date, a Level 2 input. REH Company is financially responsible for satisfaction of RINs credit obligations for all periods prior to the closing. This receivable totaled $68.4 million and was valued based on market prices for RINs at the effective date. During the three months ended June 30, 2023, we purchased RINs for an aggregate amount of $11.8 million on behalf of REH Company from third parties at applicable market prices in connection with our provision of services to REH Company under the transition services agreement that we and REH Company entered into at the closing of the Sinclair Transactions. We acted as an agent in these RINs transactions and did not recognize sales or cost of products sold as a result. During the three and six months ended June 30, 2023, we recognized sales of $5.6 million and $21.2 million, respectively, related to the sale of RINs to REH Company based on applicable market prices. All other fair values discussed above were based on significant inputs that are not observable in the market and, therefore, represent Level 3 measurements. The fair values of all other current receivable and payables were equivalent to their carrying values due to their short-term nature. We incurred $3.5 million and $12.5 million for the three months ended June 30, 2023 and 2022, respectively, and $7.4 million and $37.5 million for the six months ended June 30, 2023 and 2022, respectively, in incremental direct acquisition and integration costs that principally relate to legal, advisory and other professional fees and are presented as selling, general and administrative expenses in our statements of income.

Holly Energy Partners

Holly Energy Partners	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Holly Energy Partners	Holly Energy PartnersHEP is a publicly held master limited partnership that owns and / or operates logistic and refinery assets consisting of petroleum product and crude oil pipelines, terminals, tankage, loading rack facilities and refinery processing units that principally support our refining and marketing operations, as well as other third-party refineries, in the Mid-Continent, Southwest and Rocky Mountains geographic regions of the United States. Additionally, as of June 30, 2023, HEP owned a 50% ownership interest in each of Osage Pipe Line Company, LLC, the owner of a pipeline running from Cushing, Oklahoma to El Dorado, Kansas (the “Osage Pipeline”); Cheyenne Pipeline, LLC, the owner of a pipeline running from Fort Laramie, Wyoming to Cheyenne, Wyoming (the “Cheyenne Pipeline”) and Cushing Connect Pipeline & Terminal LLC (“Cushing Connect”), the owner of a crude oil storage terminal in Cushing, Oklahoma and a pipeline that runs from Cushing, Oklahoma to our Tulsa West and Tulsa East facilities (collectively, the “Tulsa refineries”); a 25.06% ownership interest in Saddle Butte Pipeline III, LLC, the owner of a pipeline from the Powder River Basin to Casper, Wyoming (the “Saddle Butte Pipeline”); and a 49.995% ownership interest in Pioneer Investments Corp., the owner of a pipeline from Sinclair, Wyoming to the North Salt Lake City, Utah Terminal (the “Pioneer Pipeline”). At June 30, 2023, we owned a 47% limited partner interest and a non-economic general partner interest in HEP. As the general partner of HEP, we have the sole ability to direct the activities that most significantly impact HEP’s financial performance, and therefore as HEP's primary beneficiary, we consolidate HEP. HEP generates revenues by charging tariffs for transporting petroleum products and crude oil through its pipelines, by charging fees for terminalling refined products and other hydrocarbons, and by storing and providing other services at its storage tanks and terminals. Under our long-term transportation agreements with HEP (discussed further below), we accounted for 80% of HEP’s total revenues for the six months ended June 30, 2023. We do not provide financial or equity support through any liquidity arrangements and / or debt guarantees to HEP. HEP has outstanding debt under its senior secured revolving credit agreement and its senior notes. HEP’s creditors have no recourse to our assets. Furthermore, our creditors have no recourse to the assets of HEP and its consolidated subsidiaries. See Note 10 for a description of HEP’s debt obligations. HEP has risk associated with its operations. If a major customer of HEP were to terminate its contracts or fail to meet desired shipping or throughput levels for an extended period of time, revenue would be reduced and HEP could suffer substantial losses to the extent that a new customer is not found. In the event that HEP incurs a loss, our operating results will reflect HEP’s loss, net of intercompany eliminations, to the extent of our ownership interest in HEP at that point in time. STC Acquisition On August 2, 2021, HEP, REH Company and STC, a wholly owned subsidiary of REH Company, entered into a contribution agreement (as amended on March 14, 2022, the “Contribution Agreement”), which closed on March 14, 2022. Pursuant to the Contribution Agreement, HEP acquired all of the outstanding equity interests of STC in exchange for 21,000,000 newly issued common limited partner units of HEP with a value of approximately $349.0 million based on HEP’s fully diluted common limited partner units outstanding and HEP’s closing unit price on March 11, 2022, and cash consideration equal to $329.0 million, inclusive of final working capital adjustments pursuant to the Contribution Agreement for an aggregate transaction value of $678.0 million. As a result of this common unit issuance and our resulting HEP ownership change, we adjusted additional capital and equity attributable to HEP’s noncontrolling interest holders to reallocate HEP’s equity among its unitholders. As part of HEP’s acquisition of STC, HEP acquired the 25.0% non-operated interest of UNEV Pipeline, LLC (“UNEV”) not already owned by HEP and as such, UNEV, the owner of a pipeline running from Woods Cross, Utah to Las Vegas, Nevada and associated product terminals, became a wholly owned subsidiary of HEP. Transportation Agreements HEP serves our refineries under long-term pipeline, terminal and tankage throughput agreements and refinery processing tolling agreements expiring from 2024 through 2037. Under these agreements, we pay HEP fees to transport, store and process throughput volumes of refined products, crude oil and feedstocks on HEP's pipelines, terminals, tankage, loading rack facilities and refinery processing units that result in minimum annual payments to HEP. Under these agreements, the agreed upon tariff rates are subject to annual tariff rate adjustments on July 1 at a rate based upon the percentage change in Producer Price Index or Federal Energy Regulatory Commission index . As of July 1, 2 023, these agreements require minimum annualized payments to HE P of $496.5 million. Our transactions with HEP and fees paid under our transportation agreements with HEP are eliminated and have no impact on our consolidated financial statements. Lessor Accounting Our consolidated statements of income reflect lease revenue recognized by HEP for contracts with third parties in which HEP is the lessor. Lease income recognized was as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands) Operating lease revenues $ 4,462 $ 3,874 $ 8,712 $ 7,157 Sales-type lease interest income $ 208 $ 629 $ 831 $ 1,261 Lease revenues relating to variable lease payments not included in measurement of the sales-type lease receivable $ 542 $ 708 $ 863 $ 1,069

Revenues

Revenues	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Substantially all revenue-generating activities relate to sales of refined product, branded fuel, renewable diesel and excess crude oil inventories sold at market prices (variable consideration) under contracts with customers. Additionally, we have revenues attributable to HEP logistics services provided under petroleum product and crude oil pipeline transportation, processing, storage and terminalling agreements with third parties. Disaggregated revenues were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands) Revenues by type Refined product revenues Transportation fuels (1) $ 4,725,169 $ 7,783,925 $ 9,233,063 $ 13,084,961 Specialty lubricant products (2) 635,375 748,099 1,315,237 1,430,140 Asphalt, fuel oil and other products (3) 572,520 538,545 1,012,859 977,727 Total refined product revenues 5,933,064 9,070,569 11,561,159 15,492,828 Excess crude oil revenues (4) 621,750 571,874 1,332,647 1,254,471 Renewable diesel revenues (5) 175,063 115,939 377,476 144,252 Transportation and logistics services 29,833 25,233 56,249 53,177 Marketing revenues (6) 1,040,933 1,336,302 1,978,318 1,613,343 Other revenues (7) 33,003 42,243 92,939 62,839 Total sales and other revenues $ 7,833,646 $ 11,162,160 $ 15,398,788 $ 18,620,910 Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands) Refined product revenues by market United States Mid-Continent $ 2,276,837 $ 4,145,654 $ 4,283,993 $ 7,055,122 Southwest 890,586 1,464,245 1,723,288 2,527,349 Rocky Mountains 2,207,770 2,806,262 4,405,597 4,664,749 Northeast 233,695 274,422 497,599 517,859 Canada 254,952 290,474 505,676 544,433 Europe, Asia and Latin America 69,224 89,512 145,006 183,316 Total refined product revenues $ 5,933,064 $ 9,070,569 $ 11,561,159 $ 15,492,828 (1) Transportation fuels revenues are attributable to our Refining segment wholesale marketing of gasoline, diesel and jet fuel. (2) Specialty lubricant products consist of base oil, waxes, finished lubricants and other specialty fluids. (3) Asphalt, fuel oil and other products revenues include revenues attributable to our Refining and Lubricants and Specialty Products segments of $522.2 million and $50.3 million, respectively, for the three months ended June 30, 2023, $909.0 million and $103.8 million, respectively, for the six months ended June 30, 2023, $443.4 million and $95.1 million, respectively, for the three months ended June 30, 2022 and $811.0 million and $166.7 million, respectively, for the six months ended June 30, 2022. (4) Excess crude oil revenues represent sales of purchased crude oil inventory that at times exceeds the supply needs of our refineries. (5) Renewable diesel revenues are attributable to our Renewables segment. (6) Marketing revenues are primarily attributable to our Marketing segment sales of branded gasoline and diesel fuel. (7) Other revenues are principally attributable to our Refining segment. Our consolidated balance sheets reflect contract liabilities related to unearned revenues attributable to future service obligations under HEP’s third-party transportation agreements and production agreements from our Sonneborn operation s. The following table present s changes to our contract liabilities: Six Months Ended June 30, 2023 2022 (In thousands) Balance at January 1 $ 10,722 $ 9,278 Increase 9,547 16,209 Recognized as revenue (10,986) (15,787) Balance at June 30 $ 9,283 $ 9,700 As of June 30, 2023, we have long-term contracts with customers that specify minimum volumes of gasoline, diesel, lubricants and specialty products to be sold ratably at market prices through 2032. Future prices are subject to market fluctuations and therefore, we have elected the exemption to exclude variable consideration under these contracts under Accounting Standards Codification 606-10-50-14A. Aggregate minimum volumes expected to be sold (future performance obligations) under our long-term product sales contracts with customers are as follows: Remainder of 2023 2024 2025 Thereafter Total (In thousands) Refined product sales volumes (barrels) 18,859 33,127 24,978 27,714 104,678 Additionally, HEP has long-term contracts with third-party customers that specify minimum volumes of product to be transported through its pipelines and terminals that result in fixed-minimum annual revenues through 2033. Annual minimum revenues attributable to HEP’s third-party contracts as of June 30, 2023 are presented below: Remainder of 2023 2024 2025 Thereafter Total (In thousands) HEP contractual minimum revenues $ 9,966 $ 20,656 $ 11,097 $ 50,247 $ 91,966

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Our financial instruments measured at fair value on a recurring basis consist of derivative instruments and RINs receivable and credit obligations. Fair value measurements are derived using inputs (assumptions that market participants would use in pricing an asset or liability, including assumptions about risk). GAAP categorizes inputs used in fair value measurements into three broad levels as follows: • (Level 1) Quoted prices in active markets for identical assets or liabilities. • (Level 2) Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, similar assets and liabilities in markets that are not active or can be corroborated by observable market data. • (Level 3) Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes valuation techniques that involve significant unobservable inputs. The carrying amounts of derivative instruments and RINs receivable and credit obligations at June 30, 2023 and December 31, 2022 were as follows: Fair Value by Input Level Carrying Amount Level 1 Level 2 Level 3 (In thousands) June 30, 2023 Assets: NYMEX futures contracts $ 276 $ 276 $ — $ — Commodity price swaps 4,383 — 4,383 — Commodity forward contracts 464 — 464 — RINs receivable (1) 38,013 — 38,013 — Foreign currency forward contracts 2,832 — 2,832 — Total assets $ 45,968 $ 276 $ 45,692 $ — Liabilities: Commodity collar contracts $ 10,626 $ — $ 10,626 $ — Commodity forward contracts 341 — 341 — Foreign currency forward contracts 6,377 — 6,377 — RINs credit obligations (1) 38,013 — 38,013 — Total liabilities $ 55,357 $ — $ 55,357 $ — Fair Value by Input Level Carrying Amount Level 1 Level 2 Level 3 (In thousands) December 31, 2022 Assets: Commodity price swaps $ 342 $ — $ 342 $ — Commodity forward contracts 2,949 — 2,949 — RINs receivable (1) 81,232 — 81,232 — Foreign currency forward contracts 15,359 — 15,359 — Total assets $ 99,882 $ — $ 99,882 $ — Liabilities: NYMEX futures contracts $ 2,750 $ 2,750 $ — $ — Commodity collar contracts 6,275 — 6,275 — Commodity forward contracts 2,987 — 2,987 — RINs credit obligations (1) 81,232 — 81,232 — Total liabilities $ 93,244 $ 2,750 $ 90,494 $ — (1) REH Company is financially responsible for satisfaction of RINs credit obligations for all periods prior to the closing of the Sinclair Transactions. See Note 2 for additional information on RINs credit obligations assumed in the Sinclair Transactions. Level 1 Instruments Our New York Mercantile Exchange (“NYMEX”) futures contracts are exchange traded and are measured and recorded at fair value using quoted market prices, a Level 1 input. Level 2 Financial Instruments Derivative instruments consisting of foreign currency forward contracts, commodity price swaps, commodity collar contracts and forward sales and purchase contracts are measured and recorded at fair value using Level 2 inputs. The fair value of the commodity price swap contracts is based on the net present value of expected future cash flows related to both variable and fixed rate legs of the respective swap agreements. The measurements are computed using market-based observable input and quoted forward commodity prices with respect to our commodity price swaps. The fair value of the commodity collar contracts is based on forward natural gas prices. The fair value of the forward sales and purchase contracts is computed using quoted forward commodity prices. The fair value of foreign currency forward contracts is based on values provided by a third party, which were derived using market quotes for similar type instruments, a Level 2 input. RINs credit obligations are valued based on current market RINs prices. Nonrecurring Fair Value Measurements During the six months ended June 30, 2023, we recognized assets and liabilities based on fair value measurements for the Sinclair Transactions (see Note 2). The fair value measurements were based on a combination of valuation methods including discounted cash flows, the guideline public company and guideline transaction methods and obsolescence adjusted replacement costs, all of which are Level 3 inputs.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is calculated as net income attributable to HF Sinclair stockholders, adjusted for participating securities’ share in earnings divided by the average number of shares of common stock outstanding. Diluted earnings per share includes the incremental shares resulting from certain share-based awards. The following is a reconciliation of the denominators of the basic and diluted per share computations for net income attributable to HF Sinclair stockholders: Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands, except per share data) Net income attributable to HF Sinclair stockholders $ 507,661 $ 1,221,262 $ 860,927 $ 1,381,236 Participating securities’ share in earnings (1) 4,411 11,632 7,304 14,888 Net income attributable to common shares $ 503,250 $ 1,209,630 $ 853,623 $ 1,366,348 Average number of shares of common stock outstanding 192,348 222,952 193,888 199,149 Average number of shares of common stock outstanding assuming dilution 192,348 222,952 193,888 199,149 Basic earnings per share $ 2.62 $ 5.43 $ 4.40 $ 6.86 Diluted earnings per share $ 2.62 $ 5.43 $ 4.40 $ 6.86 (1) Unvested restricted stock unit awards and unvested performance share units that settle in HF Sinclair common stock represent participating securities because they participate in nonforfeitable dividends or distributions with the common stockholders of HF Sinclair. Participating earnings represent the distributed and undistributed earnings of HF Sinclair attributable to the participating securities. Unvested restricted stock unit awards and performance share units do not participate in undistributed net losses as they are not contractually obligated to do so.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation We have a principal share-based compensation plan (the HF Sinclair Corporation Amended and Restated 2020 Long Term Incentive Plan, the “2020 Plan”). The 2020 Plan provides for the grant of unrestricted and restricted stock, restricted stock units, other stock-based awards, stock options, performance awards, substitute awards, cash awards and stock appreciation rights. The restricted stock unit awards generally vest over a period of one The compensation cost for these plans was $11.3 million and $8.4 million for the three months ended June 30, 2023 and 2022, respectively, and $14.6 million and $17.3 million for the six months ended June 30, 2023 and 2022, respectively. Additionally, HEP maintains an equity-based compensation plan for Holly Logistic Services, L.L.C.’s non-employee directors and certain executives and employees. Compensation cost attributable to HEP’s equity-based compensation plan was $0.4 million and $0.6 million for the three months ended June 30, 2023 and 2022, respectively, and $0.7 million and $1.2 million for the six months ended June 30, 2023 and 2022, respectively. A summary of restricted stock unit and performance share unit activity during the six months ended June 30, 2023 is presented below: Restricted Stock Units Performance Share Units Outstanding at January 1, 2023 1,055,875 771,197 Granted (1) 77,317 49,137 Vested (11,960) (3,077) Forfeited (42,283) (13,274) Performance share units converted to restricted stock units 225,217 (225,217) Outstanding at June 30, 2023 1,304,166 578,766 (1) Weighted average grant date fair value per unit $ 44.51 $ 73.27

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following components: June 30, December 31, 2022 (In thousands) Crude oil $ 816,868 $ 818,737 Other raw materials and unfinished products (1) 809,784 842,855 Finished products (2) 1,352,418 1,252,984 Lower of cost or market reserve (100,885) (61,151) Process chemicals (3) 50,402 53,900 Repair and maintenance supplies and other (4) 330,021 307,203 Total inventory $ 3,258,608 $ 3,214,528 (1) Other raw materials and unfinished products include feedstocks and blendstocks, other than crude. (2) Finished products include gasolines, jet fuels, diesels, renewable diesels, lubricants, asphalts, LPG’s and residual fuels. (3) Process chemicals include additives and other chemicals. (4) Includes RINs. Our Renewables segment inventories that are valued at the lower of LIFO cost or market reflect a valuation reserve of $74.0 million and $61.2 million at June 30, 2023 and December 31, 2022, respectively. A new market reserve of $74.0 million as of June 30, 2023 was based on market conditions and prices at that time. The effect of the change in the lower of cost or market reserve was a decrease to cost of products sold totaling $34.7 million for the three months ended June 30, 2023, an increase to cost of products sold totaling $34.5 million for the three months ended June 30, 2022 and an increase to cost of products sold totaling $12.9 million and $26.0 million for the six months ended June 30, 2023 and 2022, respectively. Our Refining segment inventories that are valued at the lower of LIFO cost or market reflect a new market reserve of $26.8 million that was established as of June 30, 2023 based on market conditions and prices at that time. The effect of the change in the lower of cost or market reserve was an increase to cost of products sold totaling $26.8 million for both the three and six months ended June 30, 2023. At June 30, 2023, the LIFO value of inventory, net of the lower of cost or market reserve, was equal to current costs.

Environmental

Environmental	6 Months Ended
	Jun. 30, 2023
Environmental Expense and Liabilities [Abstract]
Environmental	Environmental Environmental costs are charged to operating expenses if they relate to an existing condition caused by past operations and do not contribute to current or future revenue generation. We have ongoing investigations of environmental matters at various locations and routinely assess our recorded environmental obligations, if any, with respect to such matters. Liabilities are recorded when site restoration and environmental remediation, cleanup and other obligations are either known or considered probable and can be reasonably estimated. Such estimates are undiscounted and require judgment with respect to costs, time frame and extent of required remedial and cleanup activities and are subject to periodic adjustments based on currently available information. Recoveries of environmental costs through insurance, indemnification arrangements or other sources are included in other assets to the extent such recoveries are considered probable. We incurred expense of $2.2 million and $0.7 million for the three months ended June 30, 2023 and 2022, respectively, and $15.4 million and $2.8 million for the six months ended June 30, 2023 and 2022, respectively, for environmental remediation

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt HF Sinclair Credit Agreement We have a $1.65 billion senior unsecured revolving credit facility m aturing in April 2026 (the “HF Sinclair Credit Agreement”). The HF Sinclair Credit Agreement may be used for revolving credit loans and letters of credit from time to time and is available to fund general corporate purposes. At June 30, 2023, we were in compliance with all covenants, had no outstanding borrowings and had outstanding letters of credit totaling $0.3 million under the HF Sinclair Credit Agreement. Indebtedness under the HF Sinclair Credit Agreement bears interest, at our option, based on the currency of such indebtedness at either (a) a base rate equal to the highest of the Federal Funds Effective Rate (as defined in the HF Sinclair Credit Agreement) plus half of 1%, Spread Adjusted Term SOFR (as defined in the HF Sinclair Credit Agreement) for a one-month interest period plus 1% and the prime rate (as publicly announced from time to time by the administrative agent), as applicable, plus an applicable margin (ranging from 0.25% to 1.125%), (b) the CDOR Rate (as defined in the HF Sinclair Credit Agreement) plus an applicable margin (ranging from 1.25% to 2.125%), (c) the Spread Adjusted Term SOFR (as defined in the HF Sinclair Credit Agreement) plus an applicable margin (ranging from 1.25% to 2.125%) or (d) the Daily Simple RFR (as defined in the HF Sinclair Credit Agreement) plus an applicable margin (ranging from 1.25% to 2.125%). In each case, the applicable margin is based on HF Sinclair’s debt rating assigned by Standard & Poor’s Financial Services LLC and Moody’s Investors Service, Inc. HEP Credit Agreement HEP has a $1.2 billion senior secured revolving credit facility maturing in July 2025 (the “HEP Credit Agreement”). The HEP Credit Agreement is available to fund capital expenditures, investments, acquisitions, distribution payments, working capital and for general partnership purposes. It is also available to fund letters of credit up to a $50 million sub-limit and has an accordion feature that allows HEP to increase the commitments under the HEP Credit Agreement up to a maximum amount of $1.7 billion. At June 30, 2023, HEP was in compliance with all of its covenants, had outstanding borrowings of $606.0 million and no outstanding letters of credit under the HEP Credit Agreement. Prior to the Investment Grade Date (as defined in the HEP Credit Agreement), indebtedness under the HEP Credit Agreement bears interest, at HEP’s option, at either (a) the Alternate Base Rate (as defined in the HEP Credit Agreement) plus an applicable margin (ranging from 0.75% to 1.75%) or (b) Adjusted Term SOFR (as defined in the HEP Credit Agreement) plus an applicable margin (ranging from 1.75% to 2.75%). In each case, the applicable margin is based upon HEP’s Total Leverage Ratio (as defined in the HEP Credit Agreement). The weighted average interest rate in effect under the HEP Credit Agreement on HEP’s borrowings was 7.20% as of June 30, 2023. HEP’s obligations under the HEP Credit Agreement are collateralized by substantially all of HEP’s assets and are guaranteed by HEP’s material wholly owned subsidiaries. Any recourse to the general partner would be limited to the extent of HEP Logistics Holdings, L.P.’s assets, which other than its investment in HEP are not significant. HEP’s creditors have no recourse to our other assets. Furthermore, our creditors have no recourse to the assets of HEP and its consolidated subsidiaries. HollyFrontier and HF Sinclair Senior Notes At June 30 , 2023, our senior notes consisted of the following: • $59.637 million in aggregate principal amount of 2.625% senior notes maturing October 2023 (the “HollyFrontier 2.625% Senior Notes”), • $202.9 million in aggregate principal amount of 5.875% senior notes maturing April 2026 (the “HollyFrontier 5.875% Senior Notes”), and • $74.966 million in aggregate principal amount of 4.500% senior notes maturing October 2030 (the “HollyFrontier 4.500% Senior Notes” and, collectively, the “HollyFrontier Senior Notes”). • $248.190 million in aggregate principal amount of 2.625% senior notes maturing October 2023 (the “HF Sinclair 2.625% Senior Notes”), • $797.1 million in aggregate principal amount of 5.875% senior notes maturing April 2026 (the “HF Sinclair 5.875% Senior Notes”), and • $325.034 million in aggregate principal amount of 4.500% senior notes maturing October 2030 (the “HF Sinclair 4.500% Senior Notes” and, collectively, the “HF Sinclair Senior Notes”). The HollyFrontier Senior Notes and HF Sinclair Senior Notes are unsecured and unsubordinated obligations of ours and rank equally with all future unsecured and unsubordinated indebtedness. Further, we may from time to time seek to retire some or all of our outstanding debt or debt agreements through cash purchases, and/or exchanges, open market purchases, privately negotiated transactions, tender offers or otherwise. Such transactions, if any, may be material and will depend on prevailing market conditions, our liquidity requirements and other factors. HF Sinclair Financing Arrangements Certain of our wholly owned subsidiaries entered into financing arrangements whereby such subsidiaries sold a portion of their precious metals catalyst to a financial institution and then leased back the precious metals catalyst in exchange for cash. The volume of the precious metals catalyst and the lease rate are fixed over the term of each lease, and the lease payments are recorded as interest expense. The current leases mature in one year or less. Upon maturity, we must either satisfy the obligation at fair market value or refinance to extend the maturity. These financing arrangements are recorded at a Level 2 fair value totaling $34.2 million and $39.8 million at June 30, 2023 and December 31, 2022, respectively, and are included in “Accrued liabilities” on our consolidated balance sheets. See Note 5 for additional information on Level 2 inputs. HF Sinclair may, from time to time, issue letters of credit pursuant to uncommitted letters of credit facilities with its lenders. At June 30, 2023, there were no letters of credit outstanding under such credit facilities. HEP Senior Notes At June 30, 2023, HEP’s senior notes consisted of the following: • $400.0 million in aggregate principal amount of 6.375% senior notes maturing April 2027 (the “HEP 6.375% Senior Notes”), and • $500.0 million in aggregate principal amount of 5.0% HEP senior notes maturing February 2028 (the “HEP 5.0% Senior Notes”). These HEP senior notes (collectively, the “HEP Senior Notes”) are unsecured and impose certain restrictive covenants, including limitations on HEP’s ability to incur additional indebtedness, make investments, sell assets, incur certain liens, pay distributions, enter into transactions with affiliates, and enter into mergers. HEP was in compliance with the restrictive covenants for the HEP Senior Notes as of June 30, 2023. At any time when the HEP Senior Notes are rated investment grade by either Moody’s Investors Service, Inc. or S&P Global Ratings and no default or event of default exists, HEP will not be subject to many of the foregoing covenants. Additionally, HEP has certain redemption rights at varying premiums over face value under the HEP Senior Notes. Indebtedness under the HEP Senior Notes is guaranteed by certain of HEP’s wholly owned subsidiaries. HEP’s creditors have no recourse to our assets. Furthermore, our creditors have no recourse to the assets of HEP and its consolidated subsidiaries. The carrying amounts of long-term debt are as follows: June 30, December 31, (In thousands) HollyFrontier 2.625% Senior Notes $ 59,637 $ 59,637 5.875% Senior Notes 202,900 202,900 4.500% Senior Notes 74,966 74,966 337,503 337,503 HF Sinclair 2.625% Senior Notes 248,190 248,190 5.875% Senior Notes 797,100 797,100 4.500% Senior Notes 325,034 325,034 1,370,324 1,370,324 Less current debt (1) (307,551) (306,959) Unamortized discount and debt issuance costs (1) (7,246) (8,689) Total HF Sinclair long-term debt 1,393,030 1,392,179 HEP Credit Agreement 606,000 668,000 HEP 5.000% Senior Notes 500,000 500,000 6.375% Senior Notes 400,000 400,000 900,000 900,000 Unamortized discount and debt issuance costs (10,558) (11,666) Total HEP long-term debt 1,495,442 1,556,334 Total long-term debt $ 2,888,472 $ 2,948,513 (1) The HollyFrontier 2.625% Senior Notes and HF Sinclair 2.625% Senior Notes, inclusive of unamortized discount and debt issuance costs of $0.3 million and $0.9 million at June 30, 2023 and December 31, 2022, respectively, are due October 2023 and were classified as current debt on our consolidated balance sheets. The fair values of the senior notes are as follows: June 30, December 31, (In thousands) HollyFrontier and HF Sinclair Senior Notes $ 1,649,440 $ 1,655,726 HEP Senior Notes $ 859,667 $ 852,658 These fair values are based on a Level 2 input. See Note 5 for additional information on Level 2 inputs.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Commodity Price Risk Management Our primary market risk is commodity price risk. We are exposed to market risks related to the volatility in crude oil and refined products, as well as volatility in the price of natural gas used in our refining operations. We periodically enter into derivative contracts in the form of commodity price swaps, collar contracts, forward purchase and sales and futures contracts to mitigate price exposure with respect to our inventory positions, natural gas purchases, sales prices of refined products and crude oil costs. Foreign Currency Risk Management We are exposed to market risk related to the volatility in foreign currency exchange rates. We periodically enter into derivative contracts in the form of foreign exchange forward contracts to mitigate the exposure associated with fluctuations on intercompany notes with our foreign subsidiaries that are not denominated in the U.S. dollar. Accounting Hedges We periodically have forward sales contracts that lock in the prices of future sales of crude oil and refined product. These contracts have been designated as accounting hedges and are measured at fair value with offsetting adjustments (gains/losses) recorded directly to other comprehensive income (loss). These fair value adjustments are later reclassified to earnings as the hedging instruments mature. The following table presents the pre-tax effect on other comprehensive income (“OCI”) and earnings due to fair value adjustments and maturities of hedging instruments under hedge accounting: Net Unrealized Loss Recognized in OCI Gain Reclassified into Earnings Derivatives Designated as Cash Flow Hedging Instruments Three Months Ended Income Statement Location Three Months Ended 2023 2022 2023 2022 (In thousands) Commodity contracts $ (271) $ — Sales and other revenues $ 271 $ — Total $ (271) $ — $ 271 $ — Net Unrealized Gain Recognized in OCI Gain (Loss) Reclassified into Earnings Derivatives Designated as Cash Flow Hedging Instruments Six Months Ended Income Statement Location Six Months Ended 2023 2022 2023 2022 (In thousands) Commodity contracts $ — $ 326 Sales and other revenues $ 270 $ (5,288) Total $ — $ 326 $ 270 $ (5,288) Economic Hedges We have commodity contracts including NYMEX futures contracts to lock in prices on forecasted purchases and sales of inventory, collar contracts and basis swap contracts to mitigate exposure to natural gas price volatility and forward purchase and sell contracts of refined products that serve as economic hedges (derivatives used for risk management, but not designated as accounting hedges). We also have forward currency contracts to fix the rate of foreign currency. In addition, our catalyst financing arrangements discussed in Note 10 could require repayment under certain conditions based on the future pricing of platinum, which is an embedded derivative. These contracts are measured at fair value with offsetting adjustments (gains/losses) recorded directly to earnings. The following table presents the pre-tax effect on income due to maturities and fair value adjustments of our economic hedges: Gain (Loss) Recognized in Earnings Derivatives Not Designated as Hedging Instruments Income Statement Location Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands) Commodity contracts Cost of products sold $ 13,154 $ (27,618) $ 19,902 $ (37,406) Operating expenses 3,648 — (10,410) — Interest expense 2,514 4,001 4,920 2,580 Foreign currency contracts Gain (loss) on foreign currency transactions (8,716) 12,960 (8,602) 6,530 Total $ 10,600 $ (10,657) $ 5,810 $ (28,296) As of June 30, 2023, we have the following notional contract volumes related to outstanding derivative instruments: Notional Contract Volumes by Year of Maturity Total Outstanding Notional 2023 2024 Unit of Measure Derivatives Not Designated as Hedging Instruments NYMEX futures (WTI) - short 1,375,000 1,375,000 — Barrels Forward gasoline and diesel contracts - long 90,000 90,000 — Barrels Foreign currency forward contracts 422,700,406 212,920,406 209,780,000 U.S. dollar Forward commodity contracts (platinum) 36,969 — 36,969 Troy ounces Natural gas price swaps (basis spread) - long 2,576,000 2,576,000 — MMBTU Natural gas collar contracts 14,720,000 14,720,000 — MMBTU The following table presents the fair value and balance sheet locations of our outstanding derivative instruments. These amounts are presented on a gross basis with offsetting balances that reconcile to a net asset or liability position in our consolidated balance sheets. We present on a net basis to reflect the net settlement of these positions in accordance with provisions of our master netting arrangements. Derivatives in Net Asset Position Derivatives in Net Liability Position Gross Assets Gross Liabilities Offset in Balance Sheet Net Assets Recognized in Balance Sheet Gross Liabilities Gross Assets Offset in Balance Sheet Net Liabilities Recognized in Balance Sheet (In thousands) June 30, 2023 Derivatives not designated as cash flow hedging instruments: NYMEX futures contracts $ 276 $ — $ 276 $ — $ — $ — Commodity price swap contracts 4,383 — 4,383 — — — Commodity collar contracts — — — 10,626 — 10,626 Commodity forward contracts 464 — 464 341 — 341 Foreign currency forward contracts 2,832 — 2,832 6,377 — 6,377 $ 7,955 $ — $ 7,955 $ 17,344 $ — $ 17,344 Total net balance $ 7,955 $ 17,344 Balance sheet classification: Prepayment and other $ 7,955 Accrued liabilities $ 17,344 Derivatives in Net Asset Position Derivatives in Net Liability Position Gross Assets Gross Liabilities Offset in Balance Sheet Net Assets Recognized in Balance Sheet Gross Liabilities Gross Assets Offset in Balance Sheet Net Liabilities Recognized in Balance Sheet (In thousands) December 31, 2022 Derivatives not designated as cash flow hedging instruments: NYMEX futures contracts $ — $ — $ — $ 2,750 $ — $ 2,750 Commodity price swap contracts 342 — 342 — — — Commodity collar contracts — — — 6,275 — 6,275 Commodity forward contracts 2,949 — 2,949 2,987 — 2,987 Foreign currency forward contracts 15,359 — 15,359 — — — $ 18,650 $ — $ 18,650 $ 12,012 $ — $ 12,012 Total net balance $ 18,650 $ 12,012 Balance sheet classification: Prepayment and other $ 18,650 Accrued liabilities $ 12,012

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	Equity In September 2022, our Board of Directors approved a $1.0 billion share repurchase program, which replaced all existing share repurchase programs, authorizing us to repurchase common stock in the open market or through privately negotiated transactions. Privately negotiated repurchases from REH Company are also authorized under this share repurchase program, subject to REH Company’s interest in selling its shares and other limitations. The timing and amount of share repurchases, including those from REH Company, will depend on market conditions and corporate, tax, regulatory and other relevant considerations. This program may be discontinued at any time by our Board of Directors. In addition, we are authorized by our Board of Directors to repurchase shares in an amount sufficient to offset shares issued under our compensation programs. As of June 30, 2023, we had remaining authorization to repurchase up to $419.7 million under this share repurchase program. On July 28, 2023, we entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”) with REH Company, pursuant to which we repurchased from REH Company 8,200,000 shares of our outstanding common stock, par value $0.01 per share, on August 2, 2023 in a privately negotiated transaction under our share repurchase program. The price paid by us under the Stock Purchase Agreement was $50.07 per share resulting in an aggregate purchase price of $410.6 million. The purchase price was funded with cash on hand. As of August 2, 2023, we had remaining authorization to repurchase up to $5.0 million under our share repurchase program. The following table presents total open market and privately negotiated purchases of shares under our share repurchase programs for the three and six months ended June 30, 2023 and 2022. Three Months Ended Six Months Ended 2023 2022 2023 2022 Number of shares repurchased (1) — 2,730,000 4,793,857 2,730,000 Cash paid for shares repurchased (in thousands) $ — $ 132,282 $ 240,323 $ 132,282 (1) During the six months ended June 30, 2023, 1,969,279 shares were repurchased for $100.0 million pursuant to privately negotiated repurchases from REH Company. During the six months ended June 30, 2023 and 2022, we withheld 18,349 and 4,990 shares, respectively, of our common stock under the terms of stock-based compensation agreements to provide funds for the payment of payroll and income taxes due at the vesting of share-based awards. On August 2, 2023, our Board of Directors declared a regular quarterly dividend in the amount of $0.45 per share, payable on September 6, 2023 to holders of record of common stock on August 17, 2023.

Other Comprehensive Income

Other Comprehensive Income	6 Months Ended
	Jun. 30, 2023
Other Comprehensive Income (Loss), before Tax [Abstract]
Other Comprehensive Income	Other Comprehensive Income The components and allocated tax effects of other comprehensive income are as follows: Before-Tax Tax Expense After-Tax (In thousands) Three Months Ended June 30, 2023 Net change in foreign currency translation adjustment $ 9,852 $ 2,076 $ 7,776 Net unrealized loss on hedging instruments (271) (66) (205) Net change in pension and other post-retirement benefit obligations (960) (233) (727) Other comprehensive income attributable to HF Sinclair stockholders $ 8,621 $ 1,777 $ 6,844 Three Months Ended June 30, 2022 Net change in foreign currency translation adjustment $ (17,886) $ (3,775) $ (14,111) Net change in pension and other post-retirement benefit obligations (906) (221) (685) Other comprehensive loss attributable to HF Sinclair stockholders $ (18,792) $ (3,996) $ (14,796) Six Months Ended June 30, 2023 Net change in foreign currency translation adjustment $ 12,778 $ 2,690 $ 10,088 Net change in pension and other post-retirement benefit obligations (1,920) (466) (1,454) Other comprehensive income attributable to HF Sinclair stockholders $ 10,858 $ 2,224 $ 8,634 Six Months Ended June 30, 2022 Net change in foreign currency translation adjustment $ (16,165) $ (3,396) $ (12,769) Net unrealized gain on hedging instruments 326 67 259 Net change in pension and other post-retirement benefit obligations (1,812) (442) (1,370) Other comprehensive loss attributable to HF Sinclair stockholders $ (17,651) $ (3,771) $ (13,880) The following table presents the statements of income line item effects for reclassifications out of accumulated other comprehensive income (loss) (“AOCI”): AOCI Component Gain (Loss) Reclassified From AOCI Statement of Income Line Item Three Months Ended June 30, 2023 2022 (In thousands) Hedging instruments: Commodity price swaps $ 271 $ — Sales and other revenues 66 — Income tax expense 205 — Net of tax Other post-retirement benefit obligations: Pension obligations 45 45 Gain on sale of assets and other 11 11 Income tax expense 34 34 Net of tax Post-retirement healthcare obligations 918 870 Gain on sale of assets and other 223 211 Income tax expense 695 659 Net of tax Retirement restoration plan (3) (9) Gain on sale of assets and other (1) (2) Income tax expense (2) (7) Net of tax Total reclassifications for the period $ 932 $ 686 AOCI Component Gain (Loss) Reclassified From AOCI Statement of Income Line Item Six Months Ended June 30, 2023 2022 (In thousands) Hedging instruments: Commodity price swaps $ 270 $ (5,288) Sales and other revenues 65 (1,282) Income tax expense 205 (4,006) Net of tax Other post-retirement benefit obligations: Pension obligations 90 90 Gain on sale of assets and other 22 22 Income tax expense 68 68 Net of tax Post-retirement healthcare obligations 1,836 1,740 Gain on sale of assets and other 445 422 Income tax expense 1,391 1,318 Net of tax Retirement restoration plan (6) (18) Gain on sale of assets and other (1) (4) Income tax expense (5) (14) Net of tax Total reclassifications for the period $ 1,659 $ (2,634) Accumulated other comprehensive loss in the equity section of our consolidated balance sheets includes: June 30, December 31, (In thousands) Foreign currency translation adjustment $ (23,339) $ (33,427) Unrealized loss on pension obligations (2,751) (2,661) Unrealized gain on post-retirement benefit obligations 12,711 14,075 Accumulated other comprehensive loss $ (13,379) $ (22,013)

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies In the ordinary course of business, we may become party to legal, regulatory or administrative proceedings or governmental investigations, including environmental and other matters. Damages or penalties may be sought from us in some matters and certain matters may require years to resolve. While the outcome and impact of these proceedings and investigations on us cannot be predicted with certainty, based on advice of counsel and information currently available to us, management believes that the resolution of these proceedings and investigations through settlement or adverse judgment will not either individually or in the aggregate have a material adverse effect on our financial condition, results of operations or cash flows. Pursuant to the Business Combination Agreement, all pre-closing RINs obligations of REH Company’s subsidiaries (which are now subsidiaries of HF Sinclair as a result of the HFC Transactions) remain with REH Company. REH Company is required to transfer to HF Sinclair the number of each applicable type of RIN required for REH Company to demonstrate compliance for any pre-closing obligations it retained by the deadlines set forth in the Business Combination Agreement. If REH Company does not deliver all the required RINs by the applicable deadline, then, within five days following the delivery of an invoice therefor, REH Company is required to pay to HF Sinclair the amount of all out-of-pocket costs and expenses incurred by HF Sinclair to comply with REH Company’s pre-closing obligations prior to such deadline, including the price of any RINs purchased by HF Sinclair. In relation to this, 2,570,000 shares of HF Sinclair common stock, out of the purchase consideration paid to REH Company, are held in escrow to secure REH Company’s RINs credit obligations under Section 6.22 of the Business Combination Agreement. The 5,290,000 HEP common units that were also held in escrow to secure REH Company’s RINs credit obligations were released to REH Company in April 2023 upon their satisfaction of the RINs credit obligations relating thereto.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information Our operations are organized into five reportable segments, Refining, Renewables, Marketing, Lubricants and Specialty Products and HEP. Our operations that are not included in one of these five reportable segments are included in Corporate and Other. Intersegment transactions are eliminated in our consolidated financial statements and are included in Eliminations. Corporate and Other and Eliminations are aggregated and presented under the Corporate, Other and Eliminations column. The Refining segment represents the operations of our El Dorado, Tulsa, Navajo, Woods Cross and Puget Sound refineries and HF Sinclair Asphalt Company LLC (“Asphalt”). Effective with the Sinclair Transactions that closed on March 14, 2022, the Refining segment includes our Parco and Casper refineries. Refining activities involve the purchase and refining of crude oil and wholesale marketing of refined products, such as gasoline, diesel fuel and jet fuel. These petroleum products are primarily marketed in the Mid-Continent, Southwest and Rocky Mountains extending into the Pacific Northwest geographic regions of the United States. Asphalt operates various asphalt terminals in Arizona, New Mexico and Oklahoma. The Renewables segment represents the operations of our Cheyenne renewable diesel unit (“RDU”), which was mechanically complete in the fourth quarter of 2021 and operational in the first quarter of 2022, the pre-treatment unit at our Artesia, New Mexico facility, which was completed and operational in the first quarter of 2022 and the Artesia RDU, which was completed and operational in the second quarter of 2022. Also, effective with the Sinclair Transactions that closed on March 14, 2022, the Renewables segment includes the Sinclair RDU. Effective with the Sinclair Transactions that closed on March 14, 2022, the Marketing segment represents branded fuel sales to Sinclair branded sites in the United States and licensing fees for the use of the Sinclair brand at additional locations throughout the country. The Marketing segment also includes branded fuel sales to non-Sinclair branded sites from legacy HollyFrontier agreements and revenues from other marketing activities. Our branded sites are located in several states across the United States with the highest concentration of the sites located in our West and Mid-Continent regions. The Lubricants and Specialty Products segment represents Petro-Canada Lubricants Inc.’s production operations, located in Mississauga, Ontario, that includes lubricant products such as base oils, white oils, specialty products and finished lubricants, and the operations of our Petro-Canada Lubricants business that includes the marketing of products to both retail and wholesale outlets through a global sales network with locations in Canada, the United States and Europe. Additionally, the Lubricants and Specialty Products segment includes specialty lubricant products produced at our Tulsa refineries that are marketed throughout North America and are distributed in Central and South America and the operations of Red Giant Oil Company LLC, one of the largest suppliers of locomotive engine oil in North America. Also, the Lubricants and Specialty Products segment includes Sonneborn, a producer of specialty hydrocarbon chemicals such as white oils, petrolatums and waxes with manufacturing facilities in the United States and Europe. The HEP segment includes all of the operations of HEP, which owns and operates logistics and refinery assets consisting of petroleum product and crude oil pipelines, terminals, tankage, loading rack facilities and refinery processing units in the Mid-Continent, Southwest and Rocky Mountains geographic regions of the United States. The HEP segment also includes 50% ownership interests in each of the Osage Pipeline, the Cheyenne Pipeline and Cushing Connect, and effective with the Sinclair Transactions that closed March 14, 2022, a 25.06% ownership interest in the Saddle Butte Pipeline and a 49.995% ownership interest in the Pioneer Pipeline. Revenues from the HEP segment are earned through transactions with unaffiliated parties for pipeline transportation, rental and terminalling operations as well as revenues relating to pipeline transportation services provided for our refining operations. Due to certain basis differences, our reported amounts for the HEP segment may not agree to amounts reported in HEP’s periodic public filings. The accounting policies for our segments are the same as those described in the summary of significant accounting policies in our Annual Report on Form 10-K for the year ended December 31, 2022. Refining Renewables Marketing Lubricants and Specialty Products HEP Corporate, Other Consolidated (In thousands) Three Months Ended June 30, 2023 Sales and other revenues: Revenues from external customers $ 5,901,713 $ 175,063 $ 1,040,933 $ 686,104 $ 29,833 $ — $ 7,833,646 Intersegment revenues 1,137,669 98,122 — 4,529 109,922 (1,350,242) — $ 7,039,382 $ 273,185 $ 1,040,933 $ 690,633 $ 139,755 $ (1,350,242) $ 7,833,646 Cost of products sold (exclusive of lower of cost or market inventory) $ 5,829,898 $ 258,806 $ 1,008,306 $ 509,724 $ — $ (1,333,129) $ 6,273,605 Lower of cost or market inventory valuation adjustment $ 26,842 $ (34,705) $ — $ — $ — $ — $ (7,863) Operating expenses $ 426,942 $ 24,373 $ — $ 64,034 $ 53,142 $ (21,691) $ 546,800 Selling, general and administrative expenses $ 53,038 $ 1,336 $ 8,127 $ 44,914 $ 5,512 $ 14,461 $ 127,388 Depreciation and amortization $ 112,877 $ 18,968 $ 6,016 $ 20,544 $ 26,540 $ 4,415 $ 189,360 Income (loss) from operations $ 589,785 $ 4,407 $ 18,484 $ 51,417 $ 54,561 $ (14,298) $ 704,356 Earnings of equity method investments $ — $ — $ — $ — $ 3,545 $ — $ 3,545 Capital expenditures $ 45,187 $ 3,537 $ 6,200 $ 5,734 $ 8,650 $ 10,873 $ 80,181 Three Months Ended June 30, 2022 Sales and other revenues: Revenues from external customers $ 8,839,662 $ 115,939 $ 1,336,302 $ 845,024 $ 25,233 $ — $ 11,162,160 Intersegment revenues 1,448,919 78,639 — 4,917 110,537 (1,643,012) — $ 10,288,581 $ 194,578 $ 1,336,302 $ 849,941 $ 135,770 $ (1,643,012) $ 11,162,160 Cost of products sold (exclusive of lower of cost or market inventory) $ 8,119,285 $ 192,662 $ 1,311,333 $ 576,428 $ — $ (1,619,793) $ 8,579,915 Lower of cost or market inventory valuation adjustment $ — $ 34,543 $ — $ — $ — $ 34,543 Operating expenses $ 469,304 $ 29,273 $ — $ 74,470 $ 53,899 $ (20,819) $ 606,127 Selling, general and administrative expenses $ 39,123 $ 1,001 $ 1,049 $ 43,555 $ 4,683 $ 21,464 $ 110,875 Depreciation and amortization $ 102,780 $ 10,371 $ 4,418 $ 20,605 $ 26,371 $ (501) $ 164,044 Income (loss) from operations $ 1,558,089 $ (73,272) $ 19,502 $ 134,883 $ 50,817 $ (23,363) $ 1,666,656 Earnings of equity method investments $ — $ — $ — $ — $ 5,447 $ — $ 5,447 Capital expenditures $ 36,711 $ 87,525 $ 5,309 $ 8,026 $ 9,100 $ 12,773 $ 159,444 Refining Renewables Marketing Lubricants and Specialty Products HEP Corporate, Other Consolidated (In thousands) Six Months Ended June 30, 2023 Sales and other revenues: Revenues from external customers $ 11,566,927 $ 377,476 $ 1,978,318 $ 1,419,818 $ 56,249 $ — $ 15,398,788 Intersegment revenues 2,191,070 193,725 — 10,325 226,800 (2,621,920) — $ 13,757,997 $ 571,201 $ 1,978,318 $ 1,430,143 $ 283,049 $ (2,621,920) $ 15,398,788 Cost of products sold (exclusive of lower of cost or market inventory) $ 11,447,809 $ 521,544 $ 1,932,355 $ 1,047,727 $ — $ (2,571,773) $ 12,377,662 Lower of cost or market inventory valuation adjustment $ 26,842 $ 12,892 $ — $ — $ — $ — $ 39,734 Operating expenses $ 944,762 $ 55,744 $ — $ 127,627 $ 105,284 $ (47,234) $ 1,186,183 Selling, general and administrative expenses $ 92,116 $ 2,251 $ 15,090 $ 84,178 $ 10,147 $ 19,519 $ 223,301 Depreciation and amortization $ 216,000 $ 38,942 $ 11,887 $ 40,454 $ 51,005 $ 5,055 $ 363,343 Income (loss) from operations $ 1,030,468 $ (60,172) $ 18,986 $ 130,157 $ 116,613 $ (27,487) $ 1,208,565 Earnings of equity method investments $ — $ — $ — $ — $ 7,427 $ — $ 7,427 Capital expenditures $ 112,961 $ 8,381 $ 11,455 $ 14,383 $ 16,264 $ 16,806 $ 180,250 Six Months Ended June 30, 2022 Sales and other revenues: Revenues from external customers $ 15,211,556 $ 144,252 $ 1,613,343 $ 1,598,582 $ 53,177 $ — $ 18,620,910 Intersegment revenues 1,583,192 97,693 — 6,368 202,791 (1,890,044) — $ 16,794,748 $ 241,945 $ 1,613,343 $ 1,604,950 $ 255,968 $ (1,890,044) $ 18,620,910 Cost of products sold (exclusive of lower of cost or market inventory) $ 14,028,895 $ 236,933 $ 1,582,464 $ 1,081,005 $ — $ (1,847,370) $ 15,081,927 Lower of cost or market inventory valuation adjustment $ — $ 25,992 $ — $ — $ — $ — $ 25,992 Operating expenses $ 824,276 $ 56,369 $ — $ 140,471 $ 96,523 $ (34,078) $ 1,083,561 Selling, general and administrative expenses $ 73,005 $ 1,873 $ 1,189 $ 85,304 $ 8,995 $ 50,931 $ 221,297 Depreciation and amortization $ 197,461 $ 16,171 $ 4,919 $ 41,199 $ 47,957 $ 938 $ 308,645 Income (loss) from operations $ 1,671,111 $ (95,393) $ 24,771 $ 256,971 $ 102,493 $ (60,465) $ 1,899,488 Earnings of equity method investments $ — $ — $ — $ — $ 9,073 $ — $ 9,073 Capital expenditures $ 66,631 $ 186,294 $ 5,309 $ 14,395 $ 23,246 $ 21,865 $ 317,740

Description of Business and P_2

Description of Business and Presentation of Financial Statements (Policy)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	In these financial statements, the words “we,” “our,” “ours” and “us” refer only to HF Sinclair and its consolidated subsidiaries or to HF Sinclair or an individual subsidiary and not to any other person, with certain exceptions. Generally, the words “we,” “our,” “ours” and “us” include HEP and its subsidiaries as consolidated subsidiaries of HF Sinclair, unless when used in disclosures of transactions or obligations between HEP and HF Sinclair or its other subsidiaries. These financial statements contain certain disclosures of agreements that are specific to HEP and its consolidated subsidiaries and do not necessarily represent obligations of HF Sinclair. When used in descriptions of agreements and transactions, “HEP” refers to HEP and its consolidated subsidiaries. We are an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. We own and operate refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and market our refined products principally in the Southwest United States, the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. We supply high-quality fuels to more tha n 1,500 branded stations and license the use of the Sinclair brand at more than 300 ad ditional locations throughout the country. In addition, our subsidiaries produce and market base oils and other specialized lubricants in the United States, Canada and the Netherlands, and export products to more than 80 countries. Through our subsidiaries, we produce renewable diesel at two of our facilities in Wyoming and our facility in New Mexico. At June 30, 2023, we owned a 47% limited partner interest and a non-economic general partner interest in HEP, a variable interest entity (“VIE”). HEP owns and operates logistic assets consisting of petroleum product and crude oil pipelines, terminals, tankage, loading rack facilities and refinery processing units that principally support our refining and marketing operations in the Mid-Continent, Southwest and Rocky Mountains geographic regions of the United States. On May 3, 2023, we submitted a non-binding proposal to acquire all of the outstanding common units (“Common Units”) of HEP not owned by us or our affiliates (the “Proposed HEP Transaction”). The proposal has been made to the board of directors of the ultimate general partner of HEP. The Proposed HEP Transaction is subject to the negotiation and execution of a definitive agreement. There can be no assurance that a definitive agreement will be executed or that any transaction will be approved or consummated. We have prepared these consolidated financial statements without audit. In management’s opinion, these consolidated financial statements include all normal recurring adjustments necessary for a fair presentation of our consolidated financial position as of June 30, 2023, the consolidated results of income, comprehensive income and statements of equity for the three and six months ended June 30, 2023 and 2022 and consolidated cash flows for the six months ended June 30, 2023 and 2022 in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Although certain notes and other information required by generally accepted accounting principles in the United States (“GAAP”) have been condensed or omitted, we believe that the disclosures in these consolidated financial statements are adequate to make the information presented not misleading. These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2022 that has been filed with the SEC.
Accounts Receivable	Accounts Receivable: Our accounts receivable primarily consist of amounts due from customers that are primarily from sales of refined products and renewable diesel. Credit is extended based on our evaluation of the customer’s financial condition, and in certain circumstances collateral, such as letters of credit or guarantees, is required. We reserve for expected credit losses based on our historical loss experience as well as expected credit losses from current economic conditions and management’s expectations of future economic conditions. Credit losses are charged to the allowance for expected credit losses when an account is deemed uncollectible.
Inventories	Inventories: Inventories related to our refining operations are stated at the lower of cost, using the last-in, first-out (“LIFO”) method for crude oil and unfinished and finished refined products, or market. Inventories related to our renewables business are stated at the lower of cost, using the LIFO method for feedstock and unfinished and finished renewable products, or market. In periods of rapidly declining prices, LIFO inventories may have to be written down to market value due to the higher costs assigned to LIFO layers in prior periods. In addition, the use of the LIFO inventory method may result in increases or decreases to cost of sales in years that inventory volumes decline as the result of charging cost of sales with LIFO inventory costs generated in prior periods. An actual valuation of inventory under the LIFO method is made at the end of each year based on the inventory levels at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and are subject to the final year-end LIFO inventory valuation. Inventories of our Petro-Canada Lubricants and Sonneborn businesses are stated at the lower of cost, using the first-in, first-out (“FIFO”) method, or net realizable value. Inventories consisting of process chemicals, materials and maintenance supplies and RINs are stated at the lower of weighted-average cost or net realizable value.
Leases	Leases: At inception, we determine if an arrangement is or contains a lease. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our payment obligation under the leasing arrangement. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. We use our estimated incremental borrowing rate (“IBR”) to determine the present value of lease payments as most of our leases do not contain an implicit rate. Our IBR represents the interest rate which we would pay to borrow, on a collateralized basis, an amount equal to the lease payments over a similar term in a similar economic environment. We use the implicit rate when readily determinable. Operating leases are recorded in “Operating lease right-of-use assets” and current and noncurrent “Operating lease liabilities” on our consolidated balance sheet. Finance leases are included in “Properties, plants and equipment, at cost” and “Accrued liabilities” and “Other long-term liabilities” on our consolidated balance sheet.
Revenue Recognition	Revenue Recognition: Revenues on refined product, branded fuel sales, renewable diesel, and excess crude oil sales are recognized when delivered (via pipeline, in-tank or rack) and the customer obtains control of such inventory, which is typically when title passes and the customer is billed. All revenues are reported inclusive of shipping and handling costs billed and exclusive of any taxes billed to customers. Shipping and handling costs incurred are reported as cost of products sold. Our lubricants and specialty products business has sales agreements with marketers and distributors that provide certain rights of return or provisions for the repurchase of products previously sold to them. Under these agreements, revenues and cost of revenues are deferred until the products have been sold to end customers. Our lubricants and specialty products business also has agreements that create an obligation to deliver products at a future date for which consideration has already been received and recorded as deferred revenue. This revenue is recognized when the products are delivered to the customer. HEP recognizes revenues as products are shipped through its pipelines and terminals and as other services are rendered. Additionally, HEP has certain throughput agreements that specify minimum volume requirements, whereby HEP bills a customer for a minimum level of shipments in the event a customer ships below their contractual requirements. If there are no future performance obligations, HEP recognizes these deficiency payments as revenue. In certain of these throughput agreements, a customer may later utilize such shortfall billings as credit towards future volume shipments in excess of its minimum levels within its respective contractual shortfall make-up period. Such amounts represent an obligation to perform future services, which may be initially deferred and later recognized as revenue based on estimated future shipping levels, including the likelihood of a customer’s ability to utilize such amounts prior to the end of the contractual shortfall make-up period. HEP recognizes the service portion of these deficiency payments as revenue when HEP does not expect it will be required to satisfy these performance obligations in the future based on the pattern of rights exercised by the customer. Payment terms under our contracts with customers are consistent with industry norms and are typically payable within 30 days of the date of invoice.
Foreign Currency Translation	Foreign Currency Translation: Assets and liabilities recorded in foreign currencies are translated into U.S. dollars using exchange rates in effect as of the balance sheet date. Revenue and expense accounts are translated using the weighted-average exchange rates during the period presented. Foreign currency translation adjustments are recorded as a component of accumulated other comprehensive income. We have intercompany notes that were issued to fund certain of our foreign businesses. Remeasurement adjustments resulting from the conversion of intercompany financing amounts to functional currencies are recorded as gains and losses as a component of other income (expense) in the consolidated statements of income. Such adjustments are not recorded to the Lubricants and Specialty Products segment operations, but to Corporate and Other. See Note 15 for additional information on our segments.
Income Taxes	Income Taxes: Provisions for income taxes include deferred taxes resulting from temporary differences in income for financial and tax purposes, using the liability method of accounting for income taxes. The liability method requires the effect of tax rate changes on deferred income taxes to be reflected in the period in which the rate change was enacted. The liability method also requires that deferred tax assets be reduced by a valuation allowance unless it is more likely than not that the assets will be realized. We account for U.S. tax on global intangible low-taxed income in the period in which it is incurred. Potential interest and penalties related to income tax matters are recognized in income tax expense. We believe we have appropriate support for the income tax positions taken and to be taken on our income tax returns and that our accruals for tax liabilities are adequate for all open years based on an assessment of many factors, including past experience and interpretations of tax law applied to the facts of each matter.
Inventory Repurchase Obligations	Inventory Repurchase Obligations:
Fair Value Measurements	Fair value measurements are derived using inputs (assumptions that market participants would use in pricing an asset or liability, including assumptions about risk). GAAP categorizes inputs used in fair value measurements into three broad levels as follows: • (Level 1) Quoted prices in active markets for identical assets or liabilities. • (Level 2) Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, similar assets and liabilities in markets that are not active or can be corroborated by observable market data. • (Level 3) Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes valuation techniques that involve significant unobservable inputs.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Purchase Price Consideration and Allocation	The following tables present the purchase consideration and final purchase price allocation of the assets acquired and liabilities assumed on March 14, 2022: Purchase Consideration (in thousands except for per share amounts) Shares of HF Sinclair common stock issued 60,230 Closing price per share of HFC common stock (1) $ 35.68 Purchase consideration paid in HF Sinclair common stock 2,149,008 Shares of HEP common units issued to Sinclair 21,000 Closing price per share of HEP common units (2) $ 16.62 Purchase consideration paid in HEP common units 349,020 Total equity consideration 2,498,028 Cash consideration paid by HEP 328,955 Cash consideration received by HF Sinclair (77,507) Total cash consideration 251,448 Total purchase consideration $ 2,749,476 (1) Based on the HollyFrontier closing stock price on March 11, 2022. (2) Based on the HEP closing unit price on March 11, 2022.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	(In thousands) Assets Acquired Accounts receivable $ 467,530 Inventories: Crude oil and refined products 906,461 Inventories: Materials, supplies and other 39,350 Properties, plants and equipment 1,242,549 Operating lease right-of-use assets 4,585 Other assets: Intangibles and other 495,621 Total assets acquired $ 3,156,096 Liabilities Assumed Accounts payable $ 564,385 Operating lease liabilities 1,030 Accrued liabilities 84,298 Noncurrent operating lease liabilities 3,554 Deferred income taxes 351,189 Other long-term liabilities 88,098 Total liabilities assumed $ 1,092,554 Net assets acquired $ 2,063,542 Goodwill $ 685,934

Holly Energy Partners (Tables)

Holly Energy Partners (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Lease Income	Lease income recognized was as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands) Operating lease revenues $ 4,462 $ 3,874 $ 8,712 $ 7,157 Sales-type lease interest income $ 208 $ 629 $ 831 $ 1,261 Lease revenues relating to variable lease payments not included in measurement of the sales-type lease receivable $ 542 $ 708 $ 863 $ 1,069

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues	Disaggregated revenues were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands) Revenues by type Refined product revenues Transportation fuels (1) $ 4,725,169 $ 7,783,925 $ 9,233,063 $ 13,084,961 Specialty lubricant products (2) 635,375 748,099 1,315,237 1,430,140 Asphalt, fuel oil and other products (3) 572,520 538,545 1,012,859 977,727 Total refined product revenues 5,933,064 9,070,569 11,561,159 15,492,828 Excess crude oil revenues (4) 621,750 571,874 1,332,647 1,254,471 Renewable diesel revenues (5) 175,063 115,939 377,476 144,252 Transportation and logistics services 29,833 25,233 56,249 53,177 Marketing revenues (6) 1,040,933 1,336,302 1,978,318 1,613,343 Other revenues (7) 33,003 42,243 92,939 62,839 Total sales and other revenues $ 7,833,646 $ 11,162,160 $ 15,398,788 $ 18,620,910 Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands) Refined product revenues by market United States Mid-Continent $ 2,276,837 $ 4,145,654 $ 4,283,993 $ 7,055,122 Southwest 890,586 1,464,245 1,723,288 2,527,349 Rocky Mountains 2,207,770 2,806,262 4,405,597 4,664,749 Northeast 233,695 274,422 497,599 517,859 Canada 254,952 290,474 505,676 544,433 Europe, Asia and Latin America 69,224 89,512 145,006 183,316 Total refined product revenues $ 5,933,064 $ 9,070,569 $ 11,561,159 $ 15,492,828 (1) Transportation fuels revenues are attributable to our Refining segment wholesale marketing of gasoline, diesel and jet fuel. (2) Specialty lubricant products consist of base oil, waxes, finished lubricants and other specialty fluids. (3) Asphalt, fuel oil and other products revenues include revenues attributable to our Refining and Lubricants and Specialty Products segments of $522.2 million and $50.3 million, respectively, for the three months ended June 30, 2023, $909.0 million and $103.8 million, respectively, for the six months ended June 30, 2023, $443.4 million and $95.1 million, respectively, for the three months ended June 30, 2022 and $811.0 million and $166.7 million, respectively, for the six months ended June 30, 2022. (4) Excess crude oil revenues represent sales of purchased crude oil inventory that at times exceeds the supply needs of our refineries. (5) Renewable diesel revenues are attributable to our Renewables segment. (6) Marketing revenues are primarily attributable to our Marketing segment sales of branded gasoline and diesel fuel. (7) Other revenues are principally attributable to our Refining segment.
Schedule of Changes to Contract Liabilities	The following table presents changes to our contract liabilities: Six Months Ended June 30, 2023 2022 (In thousands) Balance at January 1 $ 10,722 $ 9,278 Increase 9,547 16,209 Recognized as revenue (10,986) (15,787) Balance at June 30 $ 9,283 $ 9,700
Schedules of Aggregate Minimum Volumes Expected to Be Sold Under Long-term Sales Contracts	Aggregate minimum volumes expected to be sold (future performance obligations) under our long-term product sales contracts with customers are as follows: Remainder of 2023 2024 2025 Thereafter Total (In thousands) Refined product sales volumes (barrels) 18,859 33,127 24,978 27,714 104,678 Remainder of 2023 2024 2025 Thereafter Total (In thousands) HEP contractual minimum revenues $ 9,966 $ 20,656 $ 11,097 $ 50,247 $ 91,966

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements of Asset and Liability Instruments	The carrying amounts of derivative instruments and RINs receivable and credit obligations at June 30, 2023 and December 31, 2022 were as follows: Fair Value by Input Level Carrying Amount Level 1 Level 2 Level 3 (In thousands) June 30, 2023 Assets: NYMEX futures contracts $ 276 $ 276 $ — $ — Commodity price swaps 4,383 — 4,383 — Commodity forward contracts 464 — 464 — RINs receivable (1) 38,013 — 38,013 — Foreign currency forward contracts 2,832 — 2,832 — Total assets $ 45,968 $ 276 $ 45,692 $ — Liabilities: Commodity collar contracts $ 10,626 $ — $ 10,626 $ — Commodity forward contracts 341 — 341 — Foreign currency forward contracts 6,377 — 6,377 — RINs credit obligations (1) 38,013 — 38,013 — Total liabilities $ 55,357 $ — $ 55,357 $ — Fair Value by Input Level Carrying Amount Level 1 Level 2 Level 3 (In thousands) December 31, 2022 Assets: Commodity price swaps $ 342 $ — $ 342 $ — Commodity forward contracts 2,949 — 2,949 — RINs receivable (1) 81,232 — 81,232 — Foreign currency forward contracts 15,359 — 15,359 — Total assets $ 99,882 $ — $ 99,882 $ — Liabilities: NYMEX futures contracts $ 2,750 $ 2,750 $ — $ — Commodity collar contracts 6,275 — 6,275 — Commodity forward contracts 2,987 — 2,987 — RINs credit obligations (1) 81,232 — 81,232 — Total liabilities $ 93,244 $ 2,750 $ 90,494 $ — (1) REH Company is financially responsible for satisfaction of RINs credit obligations for all periods prior to the closing of the Sinclair Transactions. See Note 2 for additional information on RINs credit obligations assumed in the Sinclair Transactions.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share	The following is a reconciliation of the denominators of the basic and diluted per share computations for net income attributable to HF Sinclair stockholders: Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands, except per share data) Net income attributable to HF Sinclair stockholders $ 507,661 $ 1,221,262 $ 860,927 $ 1,381,236 Participating securities’ share in earnings (1) 4,411 11,632 7,304 14,888 Net income attributable to common shares $ 503,250 $ 1,209,630 $ 853,623 $ 1,366,348 Average number of shares of common stock outstanding 192,348 222,952 193,888 199,149 Average number of shares of common stock outstanding assuming dilution 192,348 222,952 193,888 199,149 Basic earnings per share $ 2.62 $ 5.43 $ 4.40 $ 6.86 Diluted earnings per share $ 2.62 $ 5.43 $ 4.40 $ 6.86 (1) Unvested restricted stock unit awards and unvested performance share units that settle in HF Sinclair common stock represent participating securities because they participate in nonforfeitable dividends or distributions with the common stockholders of HF Sinclair. Participating earnings represent the distributed and undistributed earnings of HF Sinclair attributable to the participating securities. Unvested restricted stock unit awards and performance share units do not participate in undistributed net losses as they are not contractually obligated to do so.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule Of Restricted Stock Activity	A summary of restricted stock unit and performance share unit activity during the six months ended June 30, 2023 is presented below: Restricted Stock Units Performance Share Units Outstanding at January 1, 2023 1,055,875 771,197 Granted (1) 77,317 49,137 Vested (11,960) (3,077) Forfeited (42,283) (13,274) Performance share units converted to restricted stock units 225,217 (225,217) Outstanding at June 30, 2023 1,304,166 578,766 (1) Weighted average grant date fair value per unit $ 44.51 $ 73.27
Schedule Of Performance Share Activity	A summary of restricted stock unit and performance share unit activity during the six months ended June 30, 2023 is presented below: Restricted Stock Units Performance Share Units Outstanding at January 1, 2023 1,055,875 771,197 Granted (1) 77,317 49,137 Vested (11,960) (3,077) Forfeited (42,283) (13,274) Performance share units converted to restricted stock units 225,217 (225,217) Outstanding at June 30, 2023 1,304,166 578,766 (1) Weighted average grant date fair value per unit $ 44.51 $ 73.27

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory Components	Inventories consist of the following components: June 30, December 31, 2022 (In thousands) Crude oil $ 816,868 $ 818,737 Other raw materials and unfinished products (1) 809,784 842,855 Finished products (2) 1,352,418 1,252,984 Lower of cost or market reserve (100,885) (61,151) Process chemicals (3) 50,402 53,900 Repair and maintenance supplies and other (4) 330,021 307,203 Total inventory $ 3,258,608 $ 3,214,528 (1) Other raw materials and unfinished products include feedstocks and blendstocks, other than crude. (2) Finished products include gasolines, jet fuels, diesels, renewable diesels, lubricants, asphalts, LPG’s and residual fuels. (3) Process chemicals include additives and other chemicals. (4) Includes RINs.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	The carrying amounts of long-term debt are as follows: June 30, December 31, (In thousands) HollyFrontier 2.625% Senior Notes $ 59,637 $ 59,637 5.875% Senior Notes 202,900 202,900 4.500% Senior Notes 74,966 74,966 337,503 337,503 HF Sinclair 2.625% Senior Notes 248,190 248,190 5.875% Senior Notes 797,100 797,100 4.500% Senior Notes 325,034 325,034 1,370,324 1,370,324 Less current debt (1) (307,551) (306,959) Unamortized discount and debt issuance costs (1) (7,246) (8,689) Total HF Sinclair long-term debt 1,393,030 1,392,179 HEP Credit Agreement 606,000 668,000 HEP 5.000% Senior Notes 500,000 500,000 6.375% Senior Notes 400,000 400,000 900,000 900,000 Unamortized discount and debt issuance costs (10,558) (11,666) Total HEP long-term debt 1,495,442 1,556,334 Total long-term debt $ 2,888,472 $ 2,948,513 (1) The HollyFrontier 2.625% Senior Notes and HF Sinclair 2.625% Senior Notes, inclusive of unamortized discount and debt issuance costs of $0.3 million and $0.9 million at June 30, 2023 and December 31, 2022, respectively, are due October 2023 and were classified as current debt on our consolidated balance sheets. The fair values of the senior notes are as follows: June 30, December 31, (In thousands) HollyFrontier and HF Sinclair Senior Notes $ 1,649,440 $ 1,655,726 HEP Senior Notes $ 859,667 $ 852,658

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Net Unrealized Gain (Loss) Recognized in OCI and Gain (Loss) Reclassified into Earnings	The following table presents the pre-tax effect on other comprehensive income (“OCI”) and earnings due to fair value adjustments and maturities of hedging instruments under hedge accounting: Net Unrealized Loss Recognized in OCI Gain Reclassified into Earnings Derivatives Designated as Cash Flow Hedging Instruments Three Months Ended Income Statement Location Three Months Ended 2023 2022 2023 2022 (In thousands) Commodity contracts $ (271) $ — Sales and other revenues $ 271 $ — Total $ (271) $ — $ 271 $ — Net Unrealized Gain Recognized in OCI Gain (Loss) Reclassified into Earnings Derivatives Designated as Cash Flow Hedging Instruments Six Months Ended Income Statement Location Six Months Ended 2023 2022 2023 2022 (In thousands) Commodity contracts $ — $ 326 Sales and other revenues $ 270 $ (5,288) Total $ — $ 326 $ 270 $ (5,288)
Schedule of Gain (Loss) Recognized in Earnings	The following table presents the pre-tax effect on income due to maturities and fair value adjustments of our economic hedges: Gain (Loss) Recognized in Earnings Derivatives Not Designated as Hedging Instruments Income Statement Location Three Months Ended Six Months Ended 2023 2022 2023 2022 (In thousands) Commodity contracts Cost of products sold $ 13,154 $ (27,618) $ 19,902 $ (37,406) Operating expenses 3,648 — (10,410) — Interest expense 2,514 4,001 4,920 2,580 Foreign currency contracts Gain (loss) on foreign currency transactions (8,716) 12,960 (8,602) 6,530 Total $ 10,600 $ (10,657) $ 5,810 $ (28,296)
Schedule of Notional Amounts of Outstanding Derivatives Serving as Economic Hedges	As of June 30, 2023, we have the following notional contract volumes related to outstanding derivative instruments: Notional Contract Volumes by Year of Maturity Total Outstanding Notional 2023 2024 Unit of Measure Derivatives Not Designated as Hedging Instruments NYMEX futures (WTI) - short 1,375,000 1,375,000 — Barrels Forward gasoline and diesel contracts - long 90,000 90,000 — Barrels Foreign currency forward contracts 422,700,406 212,920,406 209,780,000 U.S. dollar Forward commodity contracts (platinum) 36,969 — 36,969 Troy ounces Natural gas price swaps (basis spread) - long 2,576,000 2,576,000 — MMBTU Natural gas collar contracts 14,720,000 14,720,000 — MMBTU
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table presents the fair value and balance sheet locations of our outstanding derivative instruments. These amounts are presented on a gross basis with offsetting balances that reconcile to a net asset or liability position in our consolidated balance sheets. We present on a net basis to reflect the net settlement of these positions in accordance with provisions of our master netting arrangements. Derivatives in Net Asset Position Derivatives in Net Liability Position Gross Assets Gross Liabilities Offset in Balance Sheet Net Assets Recognized in Balance Sheet Gross Liabilities Gross Assets Offset in Balance Sheet Net Liabilities Recognized in Balance Sheet (In thousands) June 30, 2023 Derivatives not designated as cash flow hedging instruments: NYMEX futures contracts $ 276 $ — $ 276 $ — $ — $ — Commodity price swap contracts 4,383 — 4,383 — — — Commodity collar contracts — — — 10,626 — 10,626 Commodity forward contracts 464 — 464 341 — 341 Foreign currency forward contracts 2,832 — 2,832 6,377 — 6,377 $ 7,955 $ — $ 7,955 $ 17,344 $ — $ 17,344 Total net balance $ 7,955 $ 17,344 Balance sheet classification: Prepayment and other $ 7,955 Accrued liabilities $ 17,344 Derivatives in Net Asset Position Derivatives in Net Liability Position Gross Assets Gross Liabilities Offset in Balance Sheet Net Assets Recognized in Balance Sheet Gross Liabilities Gross Assets Offset in Balance Sheet Net Liabilities Recognized in Balance Sheet (In thousands) December 31, 2022 Derivatives not designated as cash flow hedging instruments: NYMEX futures contracts $ — $ — $ — $ 2,750 $ — $ 2,750 Commodity price swap contracts 342 — 342 — — — Commodity collar contracts — — — 6,275 — 6,275 Commodity forward contracts 2,949 — 2,949 2,987 — 2,987 Foreign currency forward contracts 15,359 — 15,359 — — — $ 18,650 $ — $ 18,650 $ 12,012 $ — $ 12,012 Total net balance $ 18,650 $ 12,012 Balance sheet classification: Prepayment and other $ 18,650 Accrued liabilities $ 12,012

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Purchases of Shares under Share Repurchase Program	The following table presents total open market and privately negotiated purchases of shares under our share repurchase programs for the three and six months ended June 30, 2023 and 2022. Three Months Ended Six Months Ended 2023 2022 2023 2022 Number of shares repurchased (1) — 2,730,000 4,793,857 2,730,000 Cash paid for shares repurchased (in thousands) $ — $ 132,282 $ 240,323 $ 132,282 (1) During the six months ended June 30, 2023, 1,969,279 shares were repurchased for $100.0 million pursuant to privately negotiated repurchases from REH Company.

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2023
Other Comprehensive Income (Loss), before Tax [Abstract]
Schedule of Components and Allocated Tax Effects of OCI	The components and allocated tax effects of other comprehensive income are as follows: Before-Tax Tax Expense After-Tax (In thousands) Three Months Ended June 30, 2023 Net change in foreign currency translation adjustment $ 9,852 $ 2,076 $ 7,776 Net unrealized loss on hedging instruments (271) (66) (205) Net change in pension and other post-retirement benefit obligations (960) (233) (727) Other comprehensive income attributable to HF Sinclair stockholders $ 8,621 $ 1,777 $ 6,844 Three Months Ended June 30, 2022 Net change in foreign currency translation adjustment $ (17,886) $ (3,775) $ (14,111) Net change in pension and other post-retirement benefit obligations (906) (221) (685) Other comprehensive loss attributable to HF Sinclair stockholders $ (18,792) $ (3,996) $ (14,796) Six Months Ended June 30, 2023 Net change in foreign currency translation adjustment $ 12,778 $ 2,690 $ 10,088 Net change in pension and other post-retirement benefit obligations (1,920) (466) (1,454) Other comprehensive income attributable to HF Sinclair stockholders $ 10,858 $ 2,224 $ 8,634 Six Months Ended June 30, 2022 Net change in foreign currency translation adjustment $ (16,165) $ (3,396) $ (12,769) Net unrealized gain on hedging instruments 326 67 259 Net change in pension and other post-retirement benefit obligations (1,812) (442) (1,370) Other comprehensive loss attributable to HF Sinclair stockholders $ (17,651) $ (3,771) $ (13,880)
Schedule of Income Statement Line Items Effects Out of AOCI	The following table presents the statements of income line item effects for reclassifications out of accumulated other comprehensive income (loss) (“AOCI”): AOCI Component Gain (Loss) Reclassified From AOCI Statement of Income Line Item Three Months Ended June 30, 2023 2022 (In thousands) Hedging instruments: Commodity price swaps $ 271 $ — Sales and other revenues 66 — Income tax expense 205 — Net of tax Other post-retirement benefit obligations: Pension obligations 45 45 Gain on sale of assets and other 11 11 Income tax expense 34 34 Net of tax Post-retirement healthcare obligations 918 870 Gain on sale of assets and other 223 211 Income tax expense 695 659 Net of tax Retirement restoration plan (3) (9) Gain on sale of assets and other (1) (2) Income tax expense (2) (7) Net of tax Total reclassifications for the period $ 932 $ 686 AOCI Component Gain (Loss) Reclassified From AOCI Statement of Income Line Item Six Months Ended June 30, 2023 2022 (In thousands) Hedging instruments: Commodity price swaps $ 270 $ (5,288) Sales and other revenues 65 (1,282) Income tax expense 205 (4,006) Net of tax Other post-retirement benefit obligations: Pension obligations 90 90 Gain on sale of assets and other 22 22 Income tax expense 68 68 Net of tax Post-retirement healthcare obligations 1,836 1,740 Gain on sale of assets and other 445 422 Income tax expense 1,391 1,318 Net of tax Retirement restoration plan (6) (18) Gain on sale of assets and other (1) (4) Income tax expense (5) (14) Net of tax Total reclassifications for the period $ 1,659 $ (2,634)
Schedule of AOCI in Equity	Accumulated other comprehensive loss in the equity section of our consolidated balance sheets includes: June 30, December 31, (In thousands) Foreign currency translation adjustment $ (23,339) $ (33,427) Unrealized loss on pension obligations (2,751) (2,661) Unrealized gain on post-retirement benefit obligations 12,711 14,075 Accumulated other comprehensive loss $ (13,379) $ (22,013)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information	Refining Renewables Marketing Lubricants and Specialty Products HEP Corporate, Other Consolidated (In thousands) Three Months Ended June 30, 2023 Sales and other revenues: Revenues from external customers $ 5,901,713 $ 175,063 $ 1,040,933 $ 686,104 $ 29,833 $ — $ 7,833,646 Intersegment revenues 1,137,669 98,122 — 4,529 109,922 (1,350,242) — $ 7,039,382 $ 273,185 $ 1,040,933 $ 690,633 $ 139,755 $ (1,350,242) $ 7,833,646 Cost of products sold (exclusive of lower of cost or market inventory) $ 5,829,898 $ 258,806 $ 1,008,306 $ 509,724 $ — $ (1,333,129) $ 6,273,605 Lower of cost or market inventory valuation adjustment $ 26,842 $ (34,705) $ — $ — $ — $ — $ (7,863) Operating expenses $ 426,942 $ 24,373 $ — $ 64,034 $ 53,142 $ (21,691) $ 546,800 Selling, general and administrative expenses $ 53,038 $ 1,336 $ 8,127 $ 44,914 $ 5,512 $ 14,461 $ 127,388 Depreciation and amortization $ 112,877 $ 18,968 $ 6,016 $ 20,544 $ 26,540 $ 4,415 $ 189,360 Income (loss) from operations $ 589,785 $ 4,407 $ 18,484 $ 51,417 $ 54,561 $ (14,298) $ 704,356 Earnings of equity method investments $ — $ — $ — $ — $ 3,545 $ — $ 3,545 Capital expenditures $ 45,187 $ 3,537 $ 6,200 $ 5,734 $ 8,650 $ 10,873 $ 80,181 Three Months Ended June 30, 2022 Sales and other revenues: Revenues from external customers $ 8,839,662 $ 115,939 $ 1,336,302 $ 845,024 $ 25,233 $ — $ 11,162,160 Intersegment revenues 1,448,919 78,639 — 4,917 110,537 (1,643,012) — $ 10,288,581 $ 194,578 $ 1,336,302 $ 849,941 $ 135,770 $ (1,643,012) $ 11,162,160 Cost of products sold (exclusive of lower of cost or market inventory) $ 8,119,285 $ 192,662 $ 1,311,333 $ 576,428 $ — $ (1,619,793) $ 8,579,915 Lower of cost or market inventory valuation adjustment $ — $ 34,543 $ — $ — $ — $ 34,543 Operating expenses $ 469,304 $ 29,273 $ — $ 74,470 $ 53,899 $ (20,819) $ 606,127 Selling, general and administrative expenses $ 39,123 $ 1,001 $ 1,049 $ 43,555 $ 4,683 $ 21,464 $ 110,875 Depreciation and amortization $ 102,780 $ 10,371 $ 4,418 $ 20,605 $ 26,371 $ (501) $ 164,044 Income (loss) from operations $ 1,558,089 $ (73,272) $ 19,502 $ 134,883 $ 50,817 $ (23,363) $ 1,666,656 Earnings of equity method investments $ — $ — $ — $ — $ 5,447 $ — $ 5,447 Capital expenditures $ 36,711 $ 87,525 $ 5,309 $ 8,026 $ 9,100 $ 12,773 $ 159,444 Refining Renewables Marketing Lubricants and Specialty Products HEP Corporate, Other Consolidated (In thousands) Six Months Ended June 30, 2023 Sales and other revenues: Revenues from external customers $ 11,566,927 $ 377,476 $ 1,978,318 $ 1,419,818 $ 56,249 $ — $ 15,398,788 Intersegment revenues 2,191,070 193,725 — 10,325 226,800 (2,621,920) — $ 13,757,997 $ 571,201 $ 1,978,318 $ 1,430,143 $ 283,049 $ (2,621,920) $ 15,398,788 Cost of products sold (exclusive of lower of cost or market inventory) $ 11,447,809 $ 521,544 $ 1,932,355 $ 1,047,727 $ — $ (2,571,773) $ 12,377,662 Lower of cost or market inventory valuation adjustment $ 26,842 $ 12,892 $ — $ — $ — $ — $ 39,734 Operating expenses $ 944,762 $ 55,744 $ — $ 127,627 $ 105,284 $ (47,234) $ 1,186,183 Selling, general and administrative expenses $ 92,116 $ 2,251 $ 15,090 $ 84,178 $ 10,147 $ 19,519 $ 223,301 Depreciation and amortization $ 216,000 $ 38,942 $ 11,887 $ 40,454 $ 51,005 $ 5,055 $ 363,343 Income (loss) from operations $ 1,030,468 $ (60,172) $ 18,986 $ 130,157 $ 116,613 $ (27,487) $ 1,208,565 Earnings of equity method investments $ — $ — $ — $ — $ 7,427 $ — $ 7,427 Capital expenditures $ 112,961 $ 8,381 $ 11,455 $ 14,383 $ 16,264 $ 16,806 $ 180,250 Six Months Ended June 30, 2022 Sales and other revenues: Revenues from external customers $ 15,211,556 $ 144,252 $ 1,613,343 $ 1,598,582 $ 53,177 $ — $ 18,620,910 Intersegment revenues 1,583,192 97,693 — 6,368 202,791 (1,890,044) — $ 16,794,748 $ 241,945 $ 1,613,343 $ 1,604,950 $ 255,968 $ (1,890,044) $ 18,620,910 Cost of products sold (exclusive of lower of cost or market inventory) $ 14,028,895 $ 236,933 $ 1,582,464 $ 1,081,005 $ — $ (1,847,370) $ 15,081,927 Lower of cost or market inventory valuation adjustment $ — $ 25,992 $ — $ — $ — $ — $ 25,992 Operating expenses $ 824,276 $ 56,369 $ — $ 140,471 $ 96,523 $ (34,078) $ 1,083,561 Selling, general and administrative expenses $ 73,005 $ 1,873 $ 1,189 $ 85,304 $ 8,995 $ 50,931 $ 221,297 Depreciation and amortization $ 197,461 $ 16,171 $ 4,919 $ 41,199 $ 47,957 $ 938 $ 308,645 Income (loss) from operations $ 1,671,111 $ (95,393) $ 24,771 $ 256,971 $ 102,493 $ (60,465) $ 1,899,488 Earnings of equity method investments $ — $ — $ — $ — $ 9,073 $ — $ 9,073 Capital expenditures $ 66,631 $ 186,294 $ 5,309 $ 14,395 $ 23,246 $ 21,865 $ 317,740

Description of Business and P_3

Description of Business and Presentation of Financial Statements (Details) $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 14, 2022 shares	Apr. 30, 2023 shares	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) brandedStation location	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Ownership Interest By Project Type [Line Items]
Number of branded stations | brandedStation					1,500
Number of locations licensed to use brand | location					300
Allowance for expected credit losses			$ 7,100		$ 7,100		$ 7,700
Income tax expense			$ 145,925	$ 383,493	$ 245,625	$ 404,822
Effective income tax rate					21.10%	22%
Proceeds from inventory repurchase agreements					$ 12,300	$ 21,300
Payments under inventory repurchase agreements					$ 13,400	$ 21,400
HEP
Ownership Interest By Project Type [Line Items]
Percentage of ownership in variable interest entity					47%
Sinclair Merger | HEP
Ownership Interest By Project Type [Line Items]
Shares issued in transaction (in shares) | shares	21,000,000
Sinclair Merger | REH Company
Ownership Interest By Project Type [Line Items]
Shares issued in transaction (in shares) | shares	60,230,036
Sinclair Merger | REH Company | HEP
Ownership Interest By Project Type [Line Items]
Shares issued in transaction (in shares) | shares	21,000,000	5,290,000

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 14, 2022 USD ($) $ / shares shares	Apr. 30, 2023 shares	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) $ / shares
Business Acquisition [Line Items]
Common stock par value (in USD per share) | $ / shares	$ 0.01		$ 0.01		$ 0.01		$ 0.01
Goodwill			$ 2,978,546		$ 2,978,546		$ 2,978,315
RINs
Business Acquisition [Line Items]
Aggregate purchase amount			11,800
HEP
Business Acquisition [Line Items]
Goodwill			431,985		431,985		$ 431,985
REH Company | RINs credit obligations
Business Acquisition [Line Items]
Market price of RINs credit obligations	$ 68,400
REH Company | RINs | Disposed of by Sale
Business Acquisition [Line Items]
RINs sold			5,600		21,200
Sinclair Merger
Business Acquisition [Line Items]
Value of shares issued in transaction	2,498,028
Transaction cash consideration transferred	251,448
Aggregate consideration paid in transaction	$ 2,749,476
Shares held in escrow (in shares) | shares	2,570,000
Goodwill	$ 685,934
Intangible assets acquired	221,400
Fair value of equity method investments acquired	234,300
Accrued liabilities	84,298
Incremental acquisition and integration costs			$ 3,500	$ 12,500	$ 7,400	$ 37,500
Sinclair Merger | RINs credit obligations
Business Acquisition [Line Items]
Accrued liabilities	$ 70,600
Sinclair Merger | Minimum
Business Acquisition [Line Items]
Amortization period of intangible assets acquired	4 years
Sinclair Merger | Maximum
Business Acquisition [Line Items]
Amortization period of intangible assets acquired	20 years
Sinclair Merger | Refining
Business Acquisition [Line Items]
Goodwill	$ 244,000
Sinclair Merger | Renewables
Business Acquisition [Line Items]
Goodwill	159,000
Sinclair Merger | Marketing
Business Acquisition [Line Items]
Goodwill	163,800
Sinclair Merger | HEP
Business Acquisition [Line Items]
Goodwill	$ 119,100
Sinclair Merger | HEP
Business Acquisition [Line Items]
Shares issued in transaction (in shares) | shares	21,000,000
Value of shares issued in transaction	$ 349,020
Transaction cash consideration transferred	328,955
Aggregate consideration paid in transaction	$ 678,000
Shares held in escrow (in shares) | shares	5,290,000
Sinclair Merger | REH Company
Business Acquisition [Line Items]
Shares issued in transaction (in shares) | shares	60,230,036
Percentage of pro forma equity representing shares issued in transaction	0.27
Value of shares issued in transaction	$ 2,149,000
Sinclair Merger | REH Company | HEP
Business Acquisition [Line Items]
Shares issued in transaction (in shares) | shares	21,000,000	5,290,000
Transaction cash consideration transferred	$ 329,000
Sinclair Merger | HF Sinclair | REH Company
Business Acquisition [Line Items]
Transaction cash consideration transferred	77,500
Aggregate consideration paid in transaction	$ 2,072,000

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - Sinclair Merger - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Mar. 14, 2022	Mar. 11, 2022
Business Acquisition [Line Items]
Total equity consideration	$ 2,498,028
Total cash consideration	251,448
Cash consideration received by HF Sinclair	(77,507)
Total purchase consideration	$ 2,749,476
HF Sinclair
Business Acquisition [Line Items]
Shares issued (in shares)	60,230
Closing price per share (in USD per share)		$ 35.68
Total equity consideration	$ 2,149,008
HEP
Business Acquisition [Line Items]
Shares issued (in shares)	21,000
Closing price per share (in USD per share)		$ 16.62
Total equity consideration	$ 349,020
Total cash consideration	328,955
Total purchase consideration	$ 678,000

Acquisitions - Schedule of Prel

Acquisitions - Schedule of Preliminary Purchase Consideration (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Mar. 14, 2022
Liabilities Assumed
Goodwill	$ 2,978,546	$ 2,978,315
Sinclair Merger
Assets Acquired
Accounts receivable			$ 467,530
Properties, plants and equipment			1,242,549
Operating lease right-of-use assets			4,585
Other assets: Intangibles and other			495,621
Total assets acquired			3,156,096
Liabilities Assumed
Accounts payable			564,385
Operating lease liabilities			1,030
Accrued liabilities			84,298
Noncurrent operating lease liabilities			3,554
Deferred income taxes			351,189
Other long-term liabilities			88,098
Total liabilities assumed			1,092,554
Net assets acquired			2,063,542
Goodwill			685,934
Sinclair Merger | Crude Oil and Refined Products
Assets Acquired
Inventories			906,461
Sinclair Merger | Materials, Supplies and Other
Assets Acquired
Inventories			$ 39,350

Holly Energy Partners - Narrati

Holly Energy Partners - Narrative (Details) shares in Thousands, $ in Thousands			6 Months Ended
	Jul. 01, 2023 USD ($)	Mar. 14, 2022 USD ($) shares	Jun. 30, 2023
Sinclair Merger
Holly Energy Partners Entity [Line Items]
Value of shares issued in transaction		$ 2,498,028
Transaction cash consideration transferred		251,448
Aggregate consideration paid in transaction		$ 2,749,476
HEP
Holly Energy Partners Entity [Line Items]
Percentage of ownership in variable interest entity			47%
HEP | Subsequent Event
Holly Energy Partners Entity [Line Items]
Minimum annualized payments under agreement	$ 496,500
HEP | Sinclair Merger
Holly Energy Partners Entity [Line Items]
Shares issued in transaction (in shares) | shares		21,000
Value of shares issued in transaction		$ 349,020
Transaction cash consideration transferred		328,955
Aggregate consideration paid in transaction		$ 678,000
HEP | Revenue from Contract with Customer Benchmark | Customer Concentration Risk | HollyFrontier
Holly Energy Partners Entity [Line Items]
Concentration risk, percentage of total revenues			80%
HEP | Osage Pipeline
Holly Energy Partners Entity [Line Items]
Equity method investment, ownership percentage			50%
HEP | Cheyenne Pipeline
Holly Energy Partners Entity [Line Items]
Equity method investment, ownership percentage			50%
HEP | Cushing Connect
Holly Energy Partners Entity [Line Items]
Equity method investment, ownership percentage			50%
HEP | Saddle Butte Pipeline III, LLC
Holly Energy Partners Entity [Line Items]
Equity method investment, ownership percentage			25.06%
HEP | Pioneer Pipeline
Holly Energy Partners Entity [Line Items]
Equity method investment, ownership percentage			49.995%
HEP | UNEV
Holly Energy Partners Entity [Line Items]
Remaining ownership interest acquired		0.250

Holly Energy Partners - Schedul

Holly Energy Partners - Schedule of Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Operating lease revenues	$ 4,462	$ 3,874	$ 8,712	$ 7,157
Sales-type lease interest income	208	629	831	1,261
Lease revenues relating to variable lease payments not included in measurement of the sales-type lease receivable	$ 542	$ 708	$ 863	$ 1,069

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregated Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Sales and other revenues	$ 7,833,646	$ 11,162,160	$ 15,398,788	$ 18,620,910
Transportation fuels
Disaggregation of Revenue [Line Items]
Sales and other revenues	4,725,169	7,783,925	9,233,063	13,084,961
Specialty lubricant products
Disaggregation of Revenue [Line Items]
Sales and other revenues	635,375	748,099	1,315,237	1,430,140
Asphalt, fuel oil and other products
Disaggregation of Revenue [Line Items]
Sales and other revenues	572,520	538,545	1,012,859	977,727
Refined product
Disaggregation of Revenue [Line Items]
Sales and other revenues	5,933,064	9,070,569	11,561,159	15,492,828
Refined product | Mid-Continent
Disaggregation of Revenue [Line Items]
Sales and other revenues	2,276,837	4,145,654	4,283,993	7,055,122
Refined product | Southwest
Disaggregation of Revenue [Line Items]
Sales and other revenues	890,586	1,464,245	1,723,288	2,527,349
Refined product | Rocky Mountains
Disaggregation of Revenue [Line Items]
Sales and other revenues	2,207,770	2,806,262	4,405,597	4,664,749
Refined product | Northeast
Disaggregation of Revenue [Line Items]
Sales and other revenues	233,695	274,422	497,599	517,859
Refined product | Canada
Disaggregation of Revenue [Line Items]
Sales and other revenues	254,952	290,474	505,676	544,433
Refined product | Europe, Asia and Latin America
Disaggregation of Revenue [Line Items]
Sales and other revenues	69,224	89,512	145,006	183,316
Excess crude oil revenues
Disaggregation of Revenue [Line Items]
Sales and other revenues	621,750	571,874	1,332,647	1,254,471
Renewable diesel revenues
Disaggregation of Revenue [Line Items]
Sales and other revenues	175,063	115,939	377,476	144,252
Transportation and logistics services
Disaggregation of Revenue [Line Items]
Sales and other revenues	29,833	25,233	56,249	53,177
Marketing revenues
Disaggregation of Revenue [Line Items]
Sales and other revenues	1,040,933	1,336,302	1,978,318	1,613,343
Other revenues
Disaggregation of Revenue [Line Items]
Sales and other revenues	33,003	42,243	92,939	62,839
Refining
Disaggregation of Revenue [Line Items]
Sales and other revenues	5,901,713	8,839,662	11,566,927	15,211,556
Refining | Asphalt, fuel oil and other products
Disaggregation of Revenue [Line Items]
Sales and other revenues	522,200	443,400	909,000	811,000
Lubricants and Specialty Products
Disaggregation of Revenue [Line Items]
Sales and other revenues	686,104	845,024	1,419,818	1,598,582
Lubricants and Specialty Products | Asphalt, fuel oil and other products
Disaggregation of Revenue [Line Items]
Sales and other revenues	$ 50,300	$ 95,100	$ 103,800	$ 166,700

Revenues - Schedule Contract Li

Revenues - Schedule Contract Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Change In Contract With Customer, Liability [Roll Forward]
Balance at beginning of period	$ 10,722	$ 9,278
Increase	9,547	16,209
Recognized as revenue	(10,986)	(15,787)
Balance at end of period	$ 9,283	$ 9,700

Revenues - Schedule of Performa

Revenues - Schedule of Performance Obligations (Details) bbl in Thousands, $ in Thousands	Jun. 30, 2023 USD ($) bbl
HEP | Third-Party Customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 91,966
Refined product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	104,678
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | HEP | Third-Party Customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 9,966
Satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01 | Refined product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	18,859
Satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | HEP | Third-Party Customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 20,656
Satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | Refined product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	33,127
Satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | HEP | Third-Party Customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 11,097
Satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Refined product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	24,978
Satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | HEP | Third-Party Customer
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 50,247
Satisfaction period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Refined product
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	27,714
Satisfaction period

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Level 1
Debt Instrument [Line Items]
Assets:	$ 276	$ 0
Liabilities:	0	2,750
Level 1 | NYMEX futures contracts
Debt Instrument [Line Items]
Assets:	276
Liabilities:		2,750
Level 1 | Commodity price swaps
Debt Instrument [Line Items]
Assets:	0	0
Level 1 | Commodity collar contracts
Debt Instrument [Line Items]
Liabilities:	0	0
Level 1 | Commodity forward contracts
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Level 1 | RINs
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Level 1 | Foreign currency forward contracts
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0
Level 2
Debt Instrument [Line Items]
Assets:	45,692	99,882
Liabilities:	55,357	90,494
Level 2 | NYMEX futures contracts
Debt Instrument [Line Items]
Assets:	0
Liabilities:		0
Level 2 | Commodity price swaps
Debt Instrument [Line Items]
Assets:	4,383	342
Level 2 | Commodity collar contracts
Debt Instrument [Line Items]
Liabilities:	10,626	6,275
Level 2 | Commodity forward contracts
Debt Instrument [Line Items]
Assets:	464	2,949
Liabilities:	341	2,987
Level 2 | RINs
Debt Instrument [Line Items]
Assets:	38,013	81,232
Liabilities:	38,013	81,232
Level 2 | Foreign currency forward contracts
Debt Instrument [Line Items]
Assets:	2,832	15,359
Liabilities:	6,377
Level 3
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Level 3 | NYMEX futures contracts
Debt Instrument [Line Items]
Assets:	0
Liabilities:		0
Level 3 | Commodity price swaps
Debt Instrument [Line Items]
Assets:	0	0
Level 3 | Commodity collar contracts
Debt Instrument [Line Items]
Liabilities:	0	0
Level 3 | Commodity forward contracts
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Level 3 | RINs
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0	0
Level 3 | Foreign currency forward contracts
Debt Instrument [Line Items]
Assets:	0	0
Liabilities:	0
Carrying Amount
Debt Instrument [Line Items]
Assets:	45,968	99,882
Liabilities:	55,357	93,244
Carrying Amount | NYMEX futures contracts
Debt Instrument [Line Items]
Assets:	276
Liabilities:		2,750
Carrying Amount | Commodity price swaps
Debt Instrument [Line Items]
Assets:	4,383	342
Carrying Amount | Commodity collar contracts
Debt Instrument [Line Items]
Liabilities:	10,626	6,275
Carrying Amount | Commodity forward contracts
Debt Instrument [Line Items]
Assets:	464	2,949
Liabilities:	341	2,987
Carrying Amount | RINs
Debt Instrument [Line Items]
Assets:	38,013	81,232
Liabilities:	38,013	81,232
Carrying Amount | Foreign currency forward contracts
Debt Instrument [Line Items]
Assets:	2,832	$ 15,359
Liabilities:	$ 6,377

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income attributable to HF Sinclair stockholders	$ 507,661	$ 1,221,262	$ 860,927	$ 1,381,236
Participating securities' share in earnings	4,411	11,632	7,304	14,888
Net income attributable to common shares	$ 503,250	$ 1,209,630	$ 853,623	$ 1,366,348
Average number of shares of common stock outstanding (in shares)	192,348	222,952	193,888	199,149
Average number of shares of common stock outstanding assuming dilution (in shares)	192,348	222,952	193,888	199,149
Basic earnings per share (in USD per share)	$ 2.62	$ 5.43	$ 4.40	$ 6.86
Diluted earnings per share (in USD per share)	$ 2.62	$ 5.43	$ 4.40	$ 6.86

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost attributable to share-based compensation plans	$ 11.3	$ 8.4	$ 14.6	$ 17.3
HEP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost attributable to share-based compensation plans	$ 0.4	$ 0.6	$ 0.7	$ 1.2
Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period			1 year
Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period			3 years
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period			3 years
Performance Share Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target			0%
Performance Share Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target			200%

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule Of Restricted Stock and Performance Share Activity (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Units outstanding at beginning of period (in shares)	1,055,875
Granted (in shares)	77,317
Vested (in shares)	(11,960)
Forfeited (in shares)	(42,283)
Performance share units converted to restricted stock units (in shares)	225,217
Units outstanding at end of period (in shares)	1,304,166
Weighted average grant date fair value per unit (in USD per share) | $ / shares	$ 44.51
Performance Share Units
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Units outstanding at beginning of period (in shares)	771,197
Granted (in shares)	49,137
Vested (in shares)	(3,077)
Forfeited (in shares)	(13,274)
Performance share units converted to restricted stock units (in shares)	(225,217)
Units outstanding at end of period (in shares)	578,766
Weighted average grant date fair value per unit (in USD per share) | $ / shares	$ 73.27

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventories
Crude oil	$ 816,868	$ 818,737
Other raw materials and unfinished products	809,784	842,855
Finished products	1,352,418	1,252,984
Lower of cost or market reserve	(100,885)	(61,151)
Process chemicals	50,402	53,900
Repair and maintenance supplies and other	330,021	307,203
Total inventory	$ 3,258,608	$ 3,214,528

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Inventory [Line Items]
Inventory valuation reserves	$ 100,885		$ 100,885		$ 61,151
Renewables
Inventory [Line Items]
Inventory valuation reserves	74,000		74,000		$ 61,200
Increase (decrease) to cost of products sold	(34,700)	$ 34,500	12,900	$ 26,000
Refining
Inventory [Line Items]
Inventory valuation reserves	26,800		26,800
Increase (decrease) to cost of products sold	$ 26,800		$ 26,800

Environmental (Details)

Environmental (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Mar. 14, 2022
Loss Contingencies [Line Items]
Environmental remediation costs	$ 2.2	$ 0.7	$ 15.4	$ 2.8
Environmental Remediation Expense, Statement of Income or Comprehensive Income [Extensible Enumeration]	Operating Costs and Expenses	Operating Costs and Expenses	Operating Costs and Expenses	Operating Costs and Expenses
Accrued environmental liability	$ 198.6		$ 198.6		$ 192.3
Sinclair Merger
Loss Contingencies [Line Items]
Accrued environmental liabilities assumed in transaction						$ 72.2
Third party receivable associated with environmental liabilities assumed in transaction						$ 21.5
Other Noncurrent Liabilities
Loss Contingencies [Line Items]
Accrued environmental liability	$ 164.6		$ 164.6		$ 170

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Apr. 27, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Debt Instrument [Line Items]
Fair value of financing arrangements		$ 34,200,000		$ 34,200,000		$ 39,800,000
Capitalized interest		1,200,000	$ 1,200,000	2,500,000	$ 4,900,000
Letter of Credit
Debt Instrument [Line Items]
Debt outstanding		0		0
HEP
Debt Instrument [Line Items]
Maximum borrowing capacity under revolving credit agreement		1,200,000,000		1,200,000,000
Outstanding borrowing		606,000,000		606,000,000		$ 668,000,000
Letters of credit amount outstanding		0		0
Maximum borrowing capacity with accordion feature		$ 1,700,000,000		$ 1,700,000,000
Effective interest rate on debt		7.20%		7.20%
HF Sinclair Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity under revolving credit agreement	$ 1,650,000,000
HF Sinclair Credit Agreement | Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Variable rate spread	1%
HF Sinclair Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Variable rate spread	0.25%
HF Sinclair Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Variable rate spread	1.125%
HF Sinclair Credit Agreement | LIBOR | Minimum
Debt Instrument [Line Items]
Variable rate spread	1.25%
HF Sinclair Credit Agreement | LIBOR | Maximum
Debt Instrument [Line Items]
Variable rate spread	2.125%
HF Sinclair Credit Agreement | CDOR Rate | Minimum
Debt Instrument [Line Items]
Variable rate spread	1.25%
HF Sinclair Credit Agreement | CDOR Rate | Maximum
Debt Instrument [Line Items]
Variable rate spread	2.125%
HF Sinclair Credit Agreement | HEP | Base Rate | Minimum
Debt Instrument [Line Items]
Variable rate spread	0.75%
HF Sinclair Credit Agreement | HEP | Base Rate | Maximum
Debt Instrument [Line Items]
Variable rate spread	1.75%
HF Sinclair Credit Agreement | HEP | Adjusted Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Variable rate spread	1.75%
HF Sinclair Credit Agreement | HEP | Adjusted Secured Overnight Financing Rate (SOFR) | Maximum
Debt Instrument [Line Items]
Variable rate spread	2.75%
Terminated HFC Credit Agreement
Debt Instrument [Line Items]
Outstanding borrowing		$ 0		$ 0
Letters of credit amount outstanding		300,000		300,000
Letter of Credit | HEP
Debt Instrument [Line Items]
Line of credit, maximum capacity available		50,000,000		50,000,000
HollyFrontier 2.625% Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of senior note		$ 59,637,000		$ 59,637,000
Stated interest rate		2.625%		2.625%
HollyFrontier 5.875% Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of senior note		$ 202,900,000		$ 202,900,000
Stated interest rate		5.875%		5.875%
HollyFrontier 4.500% Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of senior note		$ 74,966,000		$ 74,966,000
Stated interest rate		4.50%		4.50%
HF Sinclair 2.625% Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of senior note		$ 248,190,000		$ 248,190,000
Stated interest rate		2.625%		2.625%
HF Sinclair 5.875% Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of senior note		$ 797,100,000		$ 797,100,000
Stated interest rate		5.875%		5.875%
HF Sinclair 4.500% Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of senior note		$ 325,034,000		$ 325,034,000
Stated interest rate		4.50%		4.50%
6.375% Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of senior note		$ 400,000,000		$ 400,000,000
6.375% Senior Notes | HEP
Debt Instrument [Line Items]
Stated interest rate		6.375%		6.375%
5.000% Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of senior note		$ 500,000,000		$ 500,000,000
5.000% Senior Notes | HEP
Debt Instrument [Line Items]
Stated interest rate		5%		5%

Debt - Carrying Amounts Of Long

Debt - Carrying Amounts Of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Less current debt	$ (307,551)	$ (306,959)
Total long-term debt	2,888,472	2,948,513
Level 2
Debt Instrument [Line Items]
Senior notes	1,649,440	1,655,726
HEP
Debt Instrument [Line Items]
Carrying amounts of long-term debt	900,000	900,000
Unamortized discount and debt issuance costs	(10,558)	(11,666)
Total long-term debt	1,495,442	1,556,334
HEP Credit Agreement	606,000	668,000
HEP | Level 2
Debt Instrument [Line Items]
Senior notes	859,667	852,658
HollyFrontier 2.625% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 59,637	59,637
Stated interest rate	2.625%
HollyFrontier 5.875% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 202,900	202,900
Stated interest rate	5.875%
HollyFrontier 4.500% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 74,966	74,966
Stated interest rate	4.50%
HollyFrontier Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 337,503	337,503
HF Sinclair 2.625% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 248,190	248,190
Stated interest rate	2.625%
HF Sinclair 2.625% Senior Notes Due 2023 And HollyFrontier 2.625% Senior Notes Due 2023
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs	$ (300)	(900)
HF Sinclair 5.875% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 797,100	797,100
Stated interest rate	5.875%
HF Sinclair 4.500% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 325,034	325,034
Stated interest rate	4.50%
HF Sinclair Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 1,370,324	1,370,324
Less current debt	(307,551)	(306,959)
Unamortized discount and debt issuance costs	(7,246)	(8,689)
Total long-term debt	1,393,030	1,392,179
5.000% Senior Notes | HEP
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 500,000	500,000
Stated interest rate	5%
6.375% Senior Notes | HEP
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 400,000	$ 400,000
Stated interest rate	6.375%

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities- Location of Gain (Loss) in Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Trading Activity, Gains and Losses, Net [Line Items]
Net Unrealized Gain (Loss) Recognized in OCI	$ (271)	$ 0	$ 0	$ 326
Gain (Loss) Reclassified into Earnings	271	0	270	(5,288)
Commodity contracts
Trading Activity, Gains and Losses, Net [Line Items]
Net Unrealized Gain (Loss) Recognized in OCI	(271)	0	0	326
Commodity contracts | Sales and other revenues
Trading Activity, Gains and Losses, Net [Line Items]
Gain (Loss) Reclassified into Earnings	$ 271	$ 0	$ 270	$ (5,288)

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Pre-tax effect on Income Due to Maturities and Fair Value Adjustments of Economic Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	$ 10,600	$ (10,657)	$ 5,810	$ (28,296)
Commodity contracts | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	13,154	(27,618)	19,902	(37,406)
Commodity contracts | Operating expenses
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	3,648	0	(10,410)	0
Commodity contracts | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	2,514	4,001	4,920	2,580
Foreign currency contracts | Gain (loss) on foreign currency transactions
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	$ (8,716)	$ 12,960	$ (8,602)	$ 6,530

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Notional Contracts by Derivative Type (Details) bbl in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) MMBTU ozt bbl
NYMEX futures (WTI) - short
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels) | bbl	1,375
NYMEX futures (WTI) - short | 2023
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels) | bbl	1,375
NYMEX futures (WTI) - short | 2024
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels) | bbl	0
Forward gasoline and diesel contracts - long
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels) | bbl	90
Forward gasoline and diesel contracts - long | 2023
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels) | bbl	90
Forward gasoline and diesel contracts - long | 2024
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels) | bbl	0
Foreign currency forward contracts
Economic hedges by derivative type [Line Items]
Derivative notional amount | $	$ 422,700,406
Foreign currency forward contracts | 2023
Economic hedges by derivative type [Line Items]
Derivative notional amount | $	212,920,406
Foreign currency forward contracts | 2024
Economic hedges by derivative type [Line Items]
Derivative notional amount | $	$ 209,780,000
Commodity contracts
Economic hedges by derivative type [Line Items]
Derivative notional amount (in troy ounce) | ozt	36,969
Commodity contracts | 2023
Economic hedges by derivative type [Line Items]
Derivative notional amount (in troy ounce) | ozt	0
Commodity contracts | 2024
Economic hedges by derivative type [Line Items]
Derivative notional amount (in troy ounce) | ozt	36,969
Natural gas price swaps (basis spread) - long
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in MMBTUs) | MMBTU	2,576,000
Natural gas price swaps (basis spread) - long | 2023
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in MMBTUs) | MMBTU	2,576,000
Natural gas price swaps (basis spread) - long | 2024
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in MMBTUs) | MMBTU	0
Natural gas collar contracts
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in MMBTUs) | MMBTU	14,720,000
Natural gas collar contracts | 2023
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in MMBTUs) | MMBTU	14,720,000
Natural gas collar contracts | 2024
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in MMBTUs) | MMBTU	0

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities - Summary Of Balance Sheet Locations And Related Fair Values Of Outstanding Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Gross Assets	$ 7,955	$ 18,650
Gross Liabilities Offset in Balance Sheet	0	0
Net Assets Recognized in Balance Sheet	$ 7,955	$ 18,650
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepayments and other (HEP: $4,564 and $5,699, respectively)	Prepayments and other (HEP: $4,564 and $5,699, respectively)
Gross Liabilities	$ 17,344	$ 12,012
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	$ 17,344	$ 12,012
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities (HEP: $30,443 and $39,110, respectively)	Accrued liabilities (HEP: $30,443 and $39,110, respectively)
NYMEX futures contracts
Derivative [Line Items]
Gross Assets	$ 276	$ 0
Gross Liabilities Offset in Balance Sheet	0	0
Net Assets Recognized in Balance Sheet	276	0
Gross Liabilities	0	2,750
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	0	2,750
Commodity price swap contracts
Derivative [Line Items]
Gross Assets	4,383	342
Gross Liabilities Offset in Balance Sheet	0	0
Net Assets Recognized in Balance Sheet	4,383	342
Gross Liabilities	0	0
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	0	0
Commodity collar contracts
Derivative [Line Items]
Gross Assets	0	0
Gross Liabilities Offset in Balance Sheet	0	0
Net Assets Recognized in Balance Sheet	0	0
Gross Liabilities	10,626	6,275
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	10,626	6,275
Commodity forward contracts
Derivative [Line Items]
Gross Assets	464	2,949
Gross Liabilities Offset in Balance Sheet	0	0
Net Assets Recognized in Balance Sheet	464	2,949
Gross Liabilities	341	2,987
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	341	2,987
Foreign currency forward contracts
Derivative [Line Items]
Gross Assets	2,832	15,359
Gross Liabilities Offset in Balance Sheet	0	0
Net Assets Recognized in Balance Sheet	2,832	15,359
Gross Liabilities	6,377	0
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	$ 6,377	$ 0

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
	Aug. 03, 2023	Aug. 02, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Sep. 30, 2022	Mar. 14, 2022
Class of Stock [Line Items]
Shares repurchased (in shares)			0	2,730,000	4,793,857	2,730,000
Common stock par value (in USD per share)			$ 0.01		$ 0.01		$ 0.01		$ 0.01
Aggregate purchase price of stock repurchased			$ 0	$ 132,282	$ 240,323	$ 132,282
Common stock withheld under stock-based compensation agreements (in shares)					18,349	4,990
Dividends declared per share (in USD per share)			$ 0.45	$ 0.40	$ 0.90	$ 0.40
Subsequent Event
Class of Stock [Line Items]
Remaining authorized share repurchase amount		$ 5,000
Shares repurchased (in shares)		8,200,000
Common stock par value (in USD per share)		$ 0.01
Price per share of stock repurchased (in US per share)		$ 50.07
Aggregate purchase price of stock repurchased		$ 410,600
Dividends declared per share (in USD per share)	$ 0.45
HF Sinclair Share Repurchase Program
Class of Stock [Line Items]
Authorized share repurchase amount								$ 1,000,000
Remaining authorized share repurchase amount			$ 419,700		$ 419,700

Equity - Schedule of Share Repu

Equity - Schedule of Share Repurchases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Class of Stock [Line Items]
Number of shares repurchased (in shares)	0	2,730,000	4,793,857	2,730,000
Cash paid for shares repurchased	$ 0	$ 132,282	$ 240,323	$ 132,282
REH Company
Class of Stock [Line Items]
Number of shares repurchased (in shares)			1,969,279
Cash paid for shares repurchased			$ 100,000

Other Comprehensive Income - Co

Other Comprehensive Income - Components And Allocated Tax Effects Of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before-Tax	$ 8,621	$ (18,792)	$ 10,858	$ (17,651)
Tax Expense (Benefit)	1,777	(3,996)	2,224	(3,771)
Other comprehensive income (loss)	6,844	(14,796)	8,634	(13,880)
Net change in foreign currency translation adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before-Tax	9,852	(17,886)	12,778	(16,165)
Tax Expense (Benefit)	2,076	(3,775)	2,690	(3,396)
Other comprehensive income (loss)	7,776	(14,111)	10,088	(12,769)
Net unrealized gain (loss) on hedging instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before-Tax	(271)			326
Tax Expense (Benefit)	(66)			67
Other comprehensive income (loss)	(205)			259
Net change in pension and other post-retirement benefit obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before-Tax	(960)	(906)	(1,920)	(1,812)
Tax Expense (Benefit)	(233)	(221)	(466)	(442)
Other comprehensive income (loss)	$ (727)	$ (685)	$ (1,454)	$ (1,370)

Other Comprehensive Income - Ot

Other Comprehensive Income - Other Comprehensive Income (Loss) Amounts Reclassified to Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on sale of assets and other	$ 1,152	$ 2,320	$ 2,783	$ 6,215
Income tax expense	145,925	383,493	245,625	404,822
Net income	534,485	1,252,908	919,490	1,438,209
Reclassification out of Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	932	686	1,659	(2,634)
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Hedging instruments:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	66	0	65	(1,282)
Net income	205	0	205	(4,006)
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Hedging instruments: | Commodity price swap contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Sales and other revenues	271	0	270	(5,288)
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Other post-retirement benefit obligations: | Pension obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on sale of assets and other	45	45	90	90
Income tax expense	11	11	22	22
Net income	34	34	68	68
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Other post-retirement benefit obligations: | Post-retirement healthcare obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on sale of assets and other	918	870	1,836	1,740
Income tax expense	223	211	445	422
Net income	695	659	1,391	1,318
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Other post-retirement benefit obligations: | Retirement restoration plan
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on sale of assets and other	(3)	(9)	(6)	(18)
Income tax expense	(1)	(2)	(1)	(4)
Net income	$ (2)	$ (7)	$ (5)	$ (14)

Other Comprehensive Income - Ac

Other Comprehensive Income - Accumulated Other Comprehensive Income (Loss) In Equity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	$ 10,490,704	$ 10,050,527	$ 10,017,572	$ 9,874,910	$ 8,876,977	$ 6,294,465
Foreign currency translation adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	(23,339)		(33,427)
Unrealized gain (loss) on defined benefit plans | Pension obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	(2,751)		(2,661)
Unrealized gain (loss) on defined benefit plans | Post-retirement healthcare obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	12,711		14,075
Accumulated other comprehensive loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	$ (13,379)	$ (20,223)	$ (22,013)	$ (11,209)	$ 3,587	$ 2,671

Contingencies (Details)

Contingencies (Details) - Sinclair Merger - shares		1 Months Ended
	Mar. 14, 2022	Apr. 30, 2023
Commitments And Contingencies [Line Items]
Period following delivery of invoice requirement acquiree payment	5 days
Shares held in escrow (in shares)	2,570,000
REH Company
Commitments And Contingencies [Line Items]
Shares issued (in shares)	60,230,036
HEP
Commitments And Contingencies [Line Items]
Shares held in escrow (in shares)	5,290,000
Shares issued (in shares)	21,000,000
HEP | REH Company
Commitments And Contingencies [Line Items]
Shares issued (in shares)	21,000,000	5,290,000

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting Information [Line Items]
Number of reportable segments	5
HEP | Osage Pipeline
Segment Reporting Information [Line Items]
Equity method investment, ownership percentage	50%
HEP | Cheyenne Pipeline
Segment Reporting Information [Line Items]
Equity method investment, ownership percentage	50%
HEP | Cushing Connect
Segment Reporting Information [Line Items]
Equity method investment, ownership percentage	50%
HEP | Saddle Butte Pipeline
Segment Reporting Information [Line Items]
Equity method investment, ownership percentage	25.06%
HEP | Pioneer Pipeline
Segment Reporting Information [Line Items]
Equity method investment, ownership percentage	49.995%

Segment Information - Schedule

Segment Information - Schedule Of Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Sales and other revenues	$ 7,833,646	$ 11,162,160	$ 15,398,788	$ 18,620,910
Cost of products sold (exclusive of lower of cost or market inventory)	6,273,605	8,579,915	12,377,662	15,081,927
Lower of cost or market inventory valuation adjustment	(7,863)	34,543	39,734	25,992
Operating expenses	546,800	606,127	1,186,183	1,083,561
Selling, general and administrative expenses	127,388	110,875	223,301	221,297
Depreciation and amortization	189,360	164,044	363,343	308,645
Income (loss) from operations	704,356	1,666,656	1,208,565	1,899,488
Earnings of equity method investments	3,545	5,447	7,427	9,073
Capital expenditures	80,181	159,444	180,250	317,740
Corporate, Other and Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	(1,350,242)	(1,643,012)	(2,621,920)	(1,890,044)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	(1,350,242)	(1,643,012)	(2,621,920)	(1,890,044)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Sales and other revenues	0	0	0	0
Cost of products sold (exclusive of lower of cost or market inventory)	(1,333,129)	(1,619,793)	(2,571,773)	(1,847,370)
Lower of cost or market inventory valuation adjustment	0	0	0	0
Operating expenses	(21,691)	(20,819)	(47,234)	(34,078)
Selling, general and administrative expenses	14,461	21,464	19,519	50,931
Depreciation and amortization	4,415	(501)	5,055	938
Income (loss) from operations	(14,298)	(23,363)	(27,487)	(60,465)
Earnings of equity method investments	0	0	0	0
Capital expenditures	10,873	12,773	16,806	21,865
Refining
Segment Reporting Information [Line Items]
Sales and other revenues	5,901,713	8,839,662	11,566,927	15,211,556
Refining | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	7,039,382	10,288,581	13,757,997	16,794,748
Cost of products sold (exclusive of lower of cost or market inventory)	5,829,898	8,119,285	11,447,809	14,028,895
Lower of cost or market inventory valuation adjustment	26,842	0	26,842	0
Operating expenses	426,942	469,304	944,762	824,276
Selling, general and administrative expenses	53,038	39,123	92,116	73,005
Depreciation and amortization	112,877	102,780	216,000	197,461
Income (loss) from operations	589,785	1,558,089	1,030,468	1,671,111
Earnings of equity method investments	0	0	0	0
Capital expenditures	45,187	36,711	112,961	66,631
Refining | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	1,137,669	1,448,919	2,191,070	1,583,192
Renewables
Segment Reporting Information [Line Items]
Sales and other revenues	175,063	115,939	377,476	144,252
Renewables | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	273,185	194,578	571,201	241,945
Cost of products sold (exclusive of lower of cost or market inventory)	258,806	192,662	521,544	236,933
Lower of cost or market inventory valuation adjustment	(34,705)	34,543	12,892	25,992
Operating expenses	24,373	29,273	55,744	56,369
Selling, general and administrative expenses	1,336	1,001	2,251	1,873
Depreciation and amortization	18,968	10,371	38,942	16,171
Income (loss) from operations	4,407	(73,272)	(60,172)	(95,393)
Earnings of equity method investments	0	0	0	0
Capital expenditures	3,537	87,525	8,381	186,294
Renewables | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	98,122	78,639	193,725	97,693
Marketing
Segment Reporting Information [Line Items]
Sales and other revenues	1,040,933	1,336,302	1,978,318	1,613,343
Marketing | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	1,040,933	1,336,302	1,978,318	1,613,343
Cost of products sold (exclusive of lower of cost or market inventory)	1,008,306	1,311,333	1,932,355	1,582,464
Lower of cost or market inventory valuation adjustment	0		0	0
Operating expenses	0	0	0	0
Selling, general and administrative expenses	8,127	1,049	15,090	1,189
Depreciation and amortization	6,016	4,418	11,887	4,919
Income (loss) from operations	18,484	19,502	18,986	24,771
Earnings of equity method investments	0	0	0	0
Capital expenditures	6,200	5,309	11,455	5,309
Marketing | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	0	0	0	0
Lubricants and Specialty Products
Segment Reporting Information [Line Items]
Sales and other revenues	686,104	845,024	1,419,818	1,598,582
Lubricants and Specialty Products | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	690,633	849,941	1,430,143	1,604,950
Cost of products sold (exclusive of lower of cost or market inventory)	509,724	576,428	1,047,727	1,081,005
Lower of cost or market inventory valuation adjustment	0	0	0	0
Operating expenses	64,034	74,470	127,627	140,471
Selling, general and administrative expenses	44,914	43,555	84,178	85,304
Depreciation and amortization	20,544	20,605	40,454	41,199
Income (loss) from operations	51,417	134,883	130,157	256,971
Earnings of equity method investments	0	0	0	0
Capital expenditures	5,734	8,026	14,383	14,395
Lubricants and Specialty Products | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	4,529	4,917	10,325	6,368
HEP
Segment Reporting Information [Line Items]
Sales and other revenues	29,833	25,233	56,249	53,177
HEP | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	139,755	135,770	283,049	255,968
Cost of products sold (exclusive of lower of cost or market inventory)	0	0	0	0
Lower of cost or market inventory valuation adjustment	0	0	0	0
Operating expenses	53,142	53,899	105,284	96,523
Selling, general and administrative expenses	5,512	4,683	10,147	8,995
Depreciation and amortization	26,540	26,371	51,005	47,957
Income (loss) from operations	54,561	50,817	116,613	102,493
Earnings of equity method investments	3,545	5,447	7,427	9,073
Capital expenditures	8,650	9,100	16,264	23,246
HEP | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	$ 109,922	$ 110,537	$ 226,800	$ 202,791