HF Sinclair (DINO) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 29, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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)		190,816,714
Entity Central Index Key	0001915657
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 866,274	$ 1,353,747
Accounts receivable: Product and transportation	1,498,341	1,527,950
Crude oil resales	164,274	197,169
Accounts receivable, total	1,662,615	1,725,119
Inventories: Crude oil and refined products	2,883,656	2,645,724
Materials, supplies and other	276,502	276,107
Total inventory	3,160,158	2,921,831
Income taxes receivable	54,274	56,528
Prepayments and other	99,695	89,229
Total current assets	5,843,016	6,146,454
Properties, plants and equipment, at cost	10,686,564	10,533,432
Less: accumulated depreciation	(4,135,103)	(3,906,600)
Properties, plants and equipment, net	6,551,461	6,626,832
Operating lease right-of-use assets	370,822	348,006
Other assets: Turnaround costs	676,037	644,957
Goodwill	2,977,432	2,977,744
Intangibles and other	962,994	972,272
Other assets, total	4,616,463	4,594,973
Total assets	17,381,762	17,716,265
Current liabilities:
Accounts payable	2,172,130	2,205,759
Income taxes payable	16,291	8,772
Operating lease liabilities	88,933	106,973
Accrued liabilities	482,079	453,045
Total current liabilities	2,759,433	2,774,549
Long-term debt, net	2,635,719	2,739,083
Noncurrent operating lease liabilities	304,357	249,479
Deferred income taxes	1,301,423	1,297,130
Other long-term liabilities	423,716	418,726
Total liabilities	7,424,648	7,478,967
Commitments and Contingencies (see Note 13)
HF Sinclair stockholders’ equity:
Preferred stock, $1.00 par value – 5,000,000 shares authorized; none issued	0	0
Common stock $0.01 par value – 320,000,000 shares authorized; 223,231,546 shares issued as of June 30, 2024 and December 31, 2023, respectively	2,232	2,232
Additional capital	5,996,600	5,993,661
Retained earnings	5,650,373	5,379,182
Accumulated other comprehensive loss	(27,313)	(11,784)
Common stock held in treasury, at cost – 32,416,171 and 23,235,599 shares as of June 30, 2024 and December 31, 2023, respectively	(1,731,960)	(1,194,201)
Total HF Sinclair stockholders’ equity	9,889,932	10,169,090
Noncontrolling interest	67,182	68,208
Total equity	9,957,114	10,237,298
Total liabilities and equity	$ 17,381,762	$ 17,716,265

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
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)	32,416,171	23,235,599

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Sales and other revenues	$ 7,845,831	$ 7,833,646	$ 14,872,976	$ 15,398,788
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	6,750,525	6,273,605	12,677,025	12,377,662
Lower of cost or market inventory valuation adjustment	(3,123)	(7,863)	(222,493)	39,734
Operating expenses (exclusive of depreciation and amortization)	591,317	546,800	1,198,429	1,186,183
Total cost of products sold (exclusive of depreciation and amortization)	7,338,719	6,812,542	13,652,961	13,603,579
Selling, general and administrative expenses (exclusive of depreciation and amortization)	104,858	127,388	208,232	223,301
Depreciation and amortization	205,320	189,360	404,049	363,343
Total operating costs and expenses	7,648,897	7,129,290	14,265,242	14,190,223
Income from operations	196,934	704,356	607,734	1,208,565
Other income (expense):
Earnings of equity method investments	8,115	3,545	15,461	7,427
Interest income	18,495	17,591	40,674	37,526
Interest expense	(45,449)	(46,982)	(86,140)	(92,804)
Gain (loss) on foreign currency transactions	(369)	748	74	1,618
Gain (loss) on sale of assets and other	(264)	1,152	1,755	2,783
Total other income (expense)	(19,472)	(23,946)	(28,176)	(43,450)
Income before income taxes:	177,462	680,410	579,558	1,165,115
Income tax expense:
Current	28,166	100,429	98,871	184,824
Deferred	(4,184)	45,496	10,585	60,801
Total income tax expense	23,982	145,925	109,456	245,625
Net income	153,480	534,485	470,102	919,490
Less: net income attributable to noncontrolling interest	1,692	26,824	3,650	58,563
Net income attributable to HF Sinclair stockholders	$ 151,788	$ 507,661	$ 466,452	$ 860,927
Earnings per share:
Basic (in USD per share)	$ 0.79	$ 2.62	$ 2.38	$ 4.40
Diluted (in USD per share)	$ 0.79	$ 2.62	$ 2.38	$ 4.40
Average number of common shares outstanding:
Basic (in shares)	191,510	192,348	195,110	193,888
Diluted (in shares)	191,510	192,348	195,110	193,888

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income	$ 153,480	$ 534,485	$ 470,102	$ 919,490
Other comprehensive income (loss):
Foreign currency translation adjustment	(5,241)	9,852	(17,847)	12,778
Change in fair value of cash flow hedging instruments	(761)	0	(5,048)	270
Reclassification adjustments to net income on settlement of cash flow hedging instruments	305	(271)	4,592	(270)
Net unrealized loss on hedging instruments	(456)	(271)	(456)	0
Retirement restoration plan loss reclassified to net income	4	3	10	6
Net change in pension and other post-retirement benefit obligations	(716)	(960)	(1,415)	(1,920)
Other comprehensive income (loss) before income taxes	(6,413)	8,621	(19,718)	10,858
Income tax expense (benefit)	(1,377)	1,777	(4,189)	2,224
Other comprehensive income (loss)	(5,036)	6,844	(15,529)	8,634
Total comprehensive income	148,444	541,329	454,573	928,124
Less: noncontrolling interest in comprehensive income	1,692	26,824	3,650	58,563
Comprehensive income attributable to HF Sinclair stockholders	146,752	514,505	450,923	869,561
Pension obligations
Other comprehensive income (loss):
Plan (gain) loss reclassified to net income	215	(45)	432	(90)
Post-retirement healthcare obligations
Other comprehensive income (loss):
Plan (gain) loss reclassified to net income	$ (935)	$ (918)	$ (1,857)	$ (1,836)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 470,102	$ 919,490
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	404,049	363,343
Lower of cost or market inventory valuation adjustment	(222,493)	39,734
Earnings of equity method investments, inclusive of distributions	(1,863)	3,053
Gain on sale of assets	(834)	(504)
Deferred income taxes	10,585	60,801
Equity-based compensation expense	11,085	14,894
Change in fair value – derivative instruments	(10,222)	9,270
(Increase) decrease in current assets:
Accounts receivable	57,063	75,586
Inventories	(28,879)	(75,361)
Income taxes receivable	1,983	(57,850)
Prepayments and other	(10,668)	24,475
Increase (decrease) in current liabilities:
Accounts payable	(31,678)	(319,691)
Income taxes payable	7,548	(3,639)
Accrued liabilities	32,602	(17,498)
Turnaround expenditures	(169,270)	(347,145)
Other, net	23,706	(21,293)
Net cash provided by operating activities	542,816	667,665
Cash flows from investing activities:
Additions to properties, plants and equipment	(173,317)	(180,250)
Proceeds from sale of assets	1,180	1,682
Investment in Osage Pipe Line Company LLC	(5,000)	(3,000)
Distributions from equity method investments in excess of equity earnings	3,593	5,288
Net cash used for investing activities	(173,544)	(176,280)
Cash flows from financing activities:
Borrowings under credit agreements	0	55,000
Repayments under credit agreements	(105,500)	(117,000)
Purchase of treasury stock	(540,801)	(248,031)
Dividends	(195,261)	(175,271)
Distributions to noncontrolling interests	(4,676)	(51,285)
Payments on finance leases	(5,196)	(6,206)
Other, net	(310)	0
Net cash used for financing activities	(851,744)	(542,793)
Effect of exchange rate on cash flow	(5,001)	960
Cash and cash equivalents:
Decrease for the period	(487,473)	(50,448)
Beginning of period	1,353,747	1,665,066
End of period	866,274	1,614,618
Cash paid during the period for:
Interest	(83,754)	(93,748)
Income taxes, net	(88,943)	(249,362)
Decrease in accrued and unpaid capital expenditures	$ (4,852)	$ (11,528)

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - 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, 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						26,152,000
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)	4,793,857					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						30,918,000
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)	0					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						30,918,000
Common stock outstanding at beginning of period (in shares) at Dec. 31, 2023		223,231,000
Stockholders' equity at beginning of period at Dec. 31, 2023	$ 10,237,298	$ 2,232	5,993,661	5,379,182	(11,784)	$ (1,194,201)	68,208
Treasury stock outstanding at beginning of period (in shares) at Dec. 31, 2023	23,235,599					23,236,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 470,102			466,452			3,650
Dividends	(195,261)			(195,261)
Other comprehensive income (loss), net of tax	(15,529)				(15,529)
Issuance of common shares under incentive compensation plans (in shares)						(159,000)
Issuance of common shares under incentive compensation plans	0		(8,146)			$ 8,146
Equity-based compensation	$ 11,085		11,085
Purchase of treasury stock, inclusive of excise tax (in shares)	9,279,177					9,339,000
Purchase of treasury stock, inclusive of excise tax	$ (545,905)					$ (545,905)
Distributions to noncontrolling interest holders	(4,676)						(4,676)
Common stock outstanding at end of period (in shares) at Jun. 30, 2024		223,231,000
Stockholders' equity at end of period at Jun. 30, 2024	$ 9,957,114	$ 2,232	5,996,600	5,650,373	(27,313)	$ (1,731,960)	67,182
Treasury stock outstanding at end of period (in shares) at Jun. 30, 2024	32,416,171					32,416,000
Common stock outstanding at beginning of period (in shares) at Mar. 31, 2024		223,231,000
Stockholders' equity at beginning of period at Mar. 31, 2024	$ 10,276,089	$ 2,232	5,991,464	5,594,493	(22,277)	$ (1,357,594)	67,771
Treasury stock outstanding at beginning of period (in shares) at Mar. 31, 2024						26,077,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	153,480			151,788			1,692
Dividends	(95,908)			(95,908)
Other comprehensive income (loss), net of tax	(5,036)				(5,036)
Issuance of common shares under incentive compensation plans (in shares)						(11,000)
Issuance of common shares under incentive compensation plans	0		(569)			$ 569
Equity-based compensation	$ 5,705		5,705
Purchase of treasury stock, inclusive of excise tax (in shares)	6,348,435					6,350,000
Purchase of treasury stock, inclusive of excise tax	$ (374,935)					$ (374,935)
Distributions to noncontrolling interest holders	(2,281)						(2,281)
Common stock outstanding at end of period (in shares) at Jun. 30, 2024		223,231,000
Stockholders' equity at end of period at Jun. 30, 2024	$ 9,957,114	$ 2,232	$ 5,996,600	$ 5,650,373	$ (27,313)	$ (1,731,960)	$ 67,182
Treasury stock outstanding at end of period (in shares) at Jun. 30, 2024	32,416,171					32,416,000

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in USD per share)	$ 0.50	$ 0.45	$ 1	$ 0.90

Description of Business and Pre

Description of Business and Presentation of Financial Statements	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Presentation of Financial Statements	Description of Business and Presentation of Financial Statements References herein to HF Sinclair, “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. References herein to Holly Energy Partners, L.P. (“HEP”) with respect to time periods prior to the closing of the HEP Merger Transaction (as defined below) on December 1, 2023 refer 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. We provide petroleum product and crude oil transportation, terminalling, storage and throughput services to our refineries and the petroleum industry. We market our refined products principally in the Southwest United States, the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states and we supply high-quality fuels to more than 1,500 branded stations and license the use of the Sinclair brand at more than 300 additional locations throughout the country. We produce renewable diesel at two of our facilities in Wyoming and our facility in New Mexico. 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. On December 1, 2023, pursuant to the Agreement and Plan of Merger, dated as of August 15, 2023 (the “Merger Agreement”), by and among HEP, HF Sinclair, Navajo Pipeline Co., L.P., a Delaware limited partnership and an indirect wholly owned subsidiary of HF Sinclair (“HoldCo”), Holly Apple Holdings LLC, a Delaware limited liability company and a wholly owned subsidiary of HoldCo (“Merger Sub”), HEP Logistics Holdings, L.P., a Delaware limited partnership and the general partner of HEP (“HLH”), and Holly Logistic Services, L.L.C., a Delaware limited liability company and the general partner of HLH (the “General Partner”), Merger Sub merged with and into HEP, with HEP surviving as an indirect, wholly owned subsidiary of HF Sinclair (the “HEP Merger Transaction”). Under the terms of the Merger Agreement, each outstanding common unit representing a limited partner interest in HEP (an “HEP common unit”), other than the HEP common units already owned by HF Sinclair and its subsidiaries, was converted into the right to receive 0.315 shares of HF Sinclair common stock and $4.00 in cash, without interest. The Merger Agreement consideration totaled $267.6 million in cash and resulted in the issuance of 21,072,326 shares of HF Sinclair common stock from treasury stock. The HEP Merger Transaction was accounted for in accordance with Financial Accounting Standards Board Accounting Standards Codification ( “ ASC ” ) 810, “ Consolidation. ” Since we controlled HEP both before and after the HEP Merger Transaction, the changes in our ownership interest in HEP resulting from the HEP Merger Transaction were accounted for as an equity transaction, and no gain or loss was recognized in our consolidated statements of income. The tax effects of the HEP Merger Transaction were recorded as adjustments to deferred income taxes and additional capital consistent with ASC 740, “Income Taxes.” For a description of our existing indebtedness, as well as associated changes in connection with the HEP Merger Transaction, see Note 9. 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, 2024, the consolidated results of income, comprehensive income and statements of equity for the three and six months ended June 30, 2024 and 2023, and consolidated cash flows for the six months ended June 30, 2024 and 2023 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, 2023, which were recast to reflect changes in our reportable segments as described in Note 14, and are included in Exhibit 99.1 to the Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. 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 wa s $3.0 million at June 30, 2024, and $3.2 million at December 31, 2023. 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 renewables 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 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 that 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 sheets. Finance leases are included in “Properties, plants and equipment, at cost,” “Accrued liabilities” and “Other long-term liabilities” on our consolidated balance sheets. 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 consolidated balance sheets. 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, as a lessor, we do not separate the non-lease (service) component in contracts in which the lease component is the dominant component. We treat these combined components as an operating lease. We bifurcate the consideration received for sales-type lease contracts between lease and service revenue, with the service component accounted for within the scope of ASC 606, “Revenue from Contracts with Customers.” Our consolidated statements of income reflect the lease revenue we recognize from contracts with third parties in which we are the lessor. As the lessor, we classify customer contracts that contain leases into one of three categories: operating leases, direct finance leases, or sales-type leases. This classification is determined by evaluating key factors such as the lease term, the fair value of the underlying asset, and the residual value of the underlying assets. Revenue Recognition: Revenues on refined products, 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 in cost of materials and other. Our Lubricants & Specialties 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 & Specialties 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. Our Midstream business recognizes revenues as products are shipped through its pipelines and terminals and as other services are rendered. Additionally, we have certain throughput agreements that specify minimum volume requirements, whereby we bill 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, we recognize 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. We recognize the service portion of these deficiency payments as revenue when we do 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 in the Lubricants & Specialties segment operations, but in Corporate and Other. See Note 14 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 the 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, 2024, we recorded income tax expense of $109.5 million compared to $245.6 million for the six months ended June 30, 2023. This decrease was principally due to lower pre-tax income during the six months ended June 30, 2024, compared to the same period of 2023. Our effective tax rates were 18.9% and 21.1% for the six months ended June 30, 2024 and 2023, respectively. The difference between the U.S. federal statutory rate and the effective tax rate for the six months ended June 30, 2024 is primarily due to the relationship between pre-tax results and non-taxable permanent differences. The difference in the U.S. federal statutory rate and the effective tax rate for the six months ended June 30, 2023 was 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. 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/bu y transactions are accounted for as inventory repurchase obligations, under which proceeds received under the initial sale are recognized as an inventory repurchase obligation that is subsequently reversed when the inventory is repurchased. For the six months ended June 30, 2024 and 2023, we received proceeds of $13.1 million and $12.3 million , respectively, and subsequently repaid $13.6 million and $13.4 million, respectively, under these sell/buy transactions. Accounting Pronouncements - Not Yet Adopted In November 2023, Accounting Standards Update (“ASU”) 2023-07, “Improvements to Reportable Segment Disclosures” was issued. ASU 2023-07 requires, among other updates, enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker, as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This aims to provide more decision-useful information to stakeholders by giving a clearer picture of the costs incurred by each reportable segment. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. We are assessing the impact of this guidance on our disclosures.

Cushing Connect Joint Venture

Cushing Connect Joint Venture	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Cushing Connect Joint Venture	Cushing Connect Joint Venture In 2019, HEP Cushing LLC (“HEP Cushing”), then a wholly owned subsidiary of HEP and now a wholly owned subsidiary of HF Sinclair, and Plains Marketing, L.P., a wholly owned subsidiary of Plains All American Pipeline, L.P. (“Plains”), formed a 50/50 joint venture, Cushing Connect Pipeline & Terminal LLC (“Cushing Connect”), for (i) the development, construction, ownership and operation of a new 160,000 barrel per day common carrier crude oil pipeline (the “Cushing Connect Pipeline”) that connects the Cushing, Oklahoma crude oil hub to our Tulsa refineries and (ii) the ownership and operation of 1.5 million barrels of crude oil storage in Cushing, Oklahoma (the “Cushing Connect Terminal” and together with Cushing Connect and the Cushing Connect Pipeline, the “Cushing Connect Joint Venture”). The Cushing Connect Terminal was fully in service beginning in April 2020, and the Cushing Connect Pipeline was placed in service during the third quarter of 2021. Long-term commercial agreements were entered into to support the Cushing Connect assets. Cushing Connect entered into a contract with an affiliate of HEP, now a subsidiary of HF Sinclair, to manage the operation of the Cushing Connect Pipeline and with an affiliate of Plains to manage the operation of the Cushing Connect Terminal. The total investment in Cushing Connect was generally shared proportionately among the partners. However, HEP was solely responsible for any Cushing Connect Pipeline construction costs that exceeded the budget by more than 10%. HEP’s share of the cost of the Cushing Connect Terminal contributed by Plains and Cushing Connect Pipeline construction costs was approximately $74.0 million. Cushing Connect and its two subsidiaries, Cushing Connect Pipeline and Cushing Connect Terminal, are variable interest entities (“VIE”) as defined under GAAP. A VIE is a legal entity whose equity owners do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or, as a group, the equity holders lack the power, through voting rights, to direct the activities that most significantly impact the entity’s financial performance, the obligation to absorb the entity’s expected losses or rights to expected residual returns. Cushing Connect and its two subsidiaries are VIEs because they did not originally have sufficient equity at risk to finance their activities without additional financial support. We are the primary beneficiary of two of these entities as HEP constructed and operates the Cushing Connect Pipeline, and we have more ability to direct the activities that most significantly impact the financial performance of Cushing Connect and Cushing Connect Pipeline. Therefore, we consolidate these two entities. We are not the primary beneficiary of Cushing Connect Terminal, which we account for using the equity method of accounting. Our maximum exposure to loss as a result of our involvement with Cushing Connect Terminal is not expected to be material due to the long-term terminalling agreements in place to support operations. With the exception of the assets of HEP Cushing, creditors of the Cushing Connect Joint Venture legal entities have no recourse to our assets. Any recourse to HEP Cushing would be limited to the extent of HEP Cushing’s assets, which other than its investment in the Cushing Connect Joint Venture, are not significant. Furthermore, our creditors have no recourse to the assets of the Cushing Connect Joint Venture legal entities. The most significant assets of Cushing Connect and Cushing Connect Pipeline that are available to settle only their obligations, along with their most significant liabilities for which their creditors do not have recourse to our general credit, were: June 30, 2024 December 31, 2023 (In thousands) Cash and cash equivalents $ 1,486 $ 1,536 Properties, plants and equipment, at cost $ 102,977 $ 102,936 Less: accumulated depreciation $ (9,794) $ (8,022) Intangibles and other $ 30,856 $ 32,473

Revenues

Revenues	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Substantially all revenue-generating activities relate to sales of refined products, 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 our 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Revenues by type Refined product revenues Transportation fuels (1) $ 5,005,535 $ 4,725,169 $ 9,634,166 $ 9,233,063 Specialty lubricant products (2) 644,163 635,375 1,258,384 1,315,237 Asphalt, fuel oil and other products (3) 568,960 572,520 1,052,276 1,012,859 Total refined product revenues 6,218,658 5,933,064 11,944,826 11,561,159 Excess crude oil revenues (4) 436,796 621,750 703,892 1,332,647 Renewable diesel revenues (5) 190,137 175,063 369,806 377,476 Transportation and logistics services 27,094 29,833 50,193 56,249 Marketing revenues (6) 942,362 1,040,933 1,718,169 1,978,318 Other revenues (7) 30,784 33,003 86,090 92,939 Total sales and other revenues $ 7,845,831 $ 7,833,646 $ 14,872,976 $ 15,398,788 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Refined product revenues by market United States: Mid-Continent $ 2,409,853 $ 2,276,837 $ 4,625,694 $ 4,283,993 Southwest 1,082,895 890,586 2,058,597 1,723,288 Rocky Mountains 2,155,871 2,207,770 4,144,362 4,405,597 Northeast 212,722 233,695 432,069 497,599 Canada 288,276 254,952 544,048 505,676 Europe, Asia and Latin America 69,041 69,224 140,056 145,006 Total refined product revenues $ 6,218,658 $ 5,933,064 $ 11,944,826 $ 11,561,159 (1) Transportation fuels revenues are attributable to our Refining segment’s wholesale marketing of gasoline, diesel and jet fuel. (2) Specialty lubricant products consist of base oil, waxes, finished lubricants and other specialty fluids. (3) Revenues from asphalt, fuel oil and other products include amounts attributable to our Refining and Lubricants & Specialties segments of $488.1 million and $80.9 million, respectively, for the three months ended June 30, 2024, $910.1 million and $142.1 million, respectively, for the six months ended June 30, 2024, $522.2 million and $50.3 million, respectively, for the three months ended June 30, 2023, and $909.0 million and $103.8 million, respectively, for the six months ended June 30, 2023. (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 principally attributable to our Renewables segment. (6) Marketing revenues consist primarily 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 our 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, 2024 2023 (In thousands) Balance at January 1 $ 7,533 $ 10,722 Increase 10,936 9,547 Recognized as revenue (11,666) (10,986) Balance at June 30 $ 6,803 $ 9,283 As of June 30, 2024, we have long-term contracts with customers that specify minimum volumes of gasoline, diesel, lubricants and specialties to be sold ratably at market prices through 2034. F uture prices are subject to market fluctuations and therefore, we have elected the exemption to exclude variable consideration under these contracts under ASC 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: Contractual Minimum Remainder of 2024 2025 2026 Thereafter Total (In thousands) Refined product sales volumes (barrels) 16,254 26,553 18,852 46,690 108,349 Additionally, we have long-term contracts with third-party customers that specify minimum volumes of product to be transported through our pipelines and terminals that result in fixed-minimum annual revenues throug h 2033. Annual minimum revenues attributable to our third-party contracts as of June 30, 2024, are presented below: Contractual Minimum Remainder of 2024 2025 2026 Thereafter Total (In thousands) Midstream operations revenues $ 10,426 $ 11,242 $ 7,782 $ 43,308 $ 72,758

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	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. The carrying amounts of derivative instruments and RINs credit obligations at June 30, 2024 and December 31, 2023 were as follows: Fair Value by Input Level Carrying Amount Level 1 Level 2 Level 3 (In thousands) June 30, 2024 Assets: Commodity forward contracts $ 574 $ — $ 574 $ — Foreign currency forward contracts 3,261 — 3,261 — Total assets $ 3,835 $ — $ 3,835 $ — Liabilities: NYMEX futures contracts $ 4,674 $ 4,674 $ — $ — Commodity price swaps 1,495 — 1,495 — Commodity forward contracts 738 — 738 — Foreign currency forward contracts 51 — 51 — RINs credit obligations (1) 22,745 — 22,745 — Total liabilities $ 29,703 $ 4,674 $ 25,029 $ — Fair Value by Input Level Carrying Amount Level 1 Level 2 Level 3 (In thousands) December 31, 2023 Assets: NYMEX futures contracts $ 836 $ 836 $ — $ — Commodity forward contracts 2,908 — 2,908 — Total assets $ 3,744 $ 836 $ 2,908 $ — Liabilities: Commodity price swaps $ 7,808 $ — $ 7,808 $ — Commodity forward contracts 1,848 — 1,848 — Foreign currency forward contracts 7,893 — 7,893 — Total liabilities $ 17,549 $ — $ 17,549 $ — (1) Represent obligations for RINs credits for which we did not have sufficient quantities at June 30, 2024 to satisfy our Environmental Protection Agency (“EPA”) regulatory blending requirements. Level 1 Fair Value Measurements 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 Fair Value Measurements Derivative instruments consisting of foreign currency forward contracts, commodity price swaps 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 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 quoted prices from an independent pricing service.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands, except per share data) Net income attributable to HF Sinclair stockholders $ 151,788 $ 507,661 $ 466,452 $ 860,927 Participating securities’ share in earnings (1) 841 4,411 2,754 7,304 Net income attributable to common shares $ 150,947 $ 503,250 $ 463,698 $ 853,623 Average number of shares of common stock outstanding 191,510 192,348 195,110 193,888 Average number of shares of common stock outstanding assuming dilution 191,510 192,348 195,110 193,888 Basic earnings per share $ 0.79 $ 2.62 $ 2.38 $ 4.40 Diluted earnings per share $ 0.79 $ 2.62 $ 2.38 $ 4.40 (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, 2024
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 $5.8 million and $11.3 million for the three months ended June 30, 2024 and 2023 , respectively, and $11.6 million and $14.6 million for the six months ended June 30, 2024 and 2023, respectively. Additionally, prior to the HEP Merger Transaction, HEP maintained an equity-based compensation plan for the General Partner’s non-employee directors and certain executives and employees. Compensation costs attributable to HEP’s equity-based compensation plan was $0.4 million and $0.7 million for the three and six months ended June 30, 2023, respectively. A summary of restricted stock units and performance share units activity during the six months ended June 30, 2024, is presented below: Restricted Stock Units Performance Share Units Outstanding at January 1, 2024 1,102,755 485,531 Granted (1) 3,268 1,248 Vested (156,949) (1,859) Forfeited (198,404) (59,740) Outstanding at June 30, 2024 750,670 425,180 (1) Weighted average grant date fair value per unit. $ 57.19 $ 53.43

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following components: June 30, 2024 December 31, 2023 (In thousands) Crude oil $ 829,845 $ 858,411 Other raw materials and unfinished products (1) 736,298 683,066 Finished products (2) 1,426,590 1,435,817 Lower of cost or market reserve (109,077) (331,570) Process chemicals (3) 48,713 50,917 Repair and maintenance supplies and other (4) 227,789 225,190 Total inventory $ 3,160,158 $ 2,921,831 (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. At June 30, 2024, the LIFO value of our Refining segment inventories was equal to cost. T h e December 31, 2023 market reserve of $220.6 million reversed resulting in a decrease to cost of sales totaling $220.6 million for the six months ended June 30, 2024. The effect of the change in the lower of cost or market reserve was an increase to cost of sales totaling $26.8 million for both the three and six months ended June 30, 2023. Our Renewables segment inventories that are valued at the lower of LIFO cost or market reflect a valuation reserve of $109.1 million and $111.0 million at June 30, 2024 and December 31, 2023, respectively. A new market reserve of $109.1 million as of June 30, 2024 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 sales totaling $3.1 million and $34.7 million for the three months ended June 30, 2024 and 2023, respectively. The effect of the change in the lower of cost or market reserve was a decrease to cost of sales totaling $1.9 million and an increase to cost of sales totaling $12.9 million for the six months ended June 30, 2024 and 2023, respectively.

Environmental

Environmental	6 Months Ended
	Jun. 30, 2024
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, environmental remediation, cleanup and other obligations are 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 expenses of $0.7 million and $2.2 million for the three months ended June 30, 2024 and 2023 , respectively, and $2.4 million and $15.4 million for the six months ended June 30, 2024 and 2023, respectively, for environmental remediation obligations. The accrued environmental liability reflected on our consolidated balance sheets was $188.4 million and $195.4 million at June 30, 2024 and December 31, 2023, respectively, of which $161.2 million and $161.4 million, respectively, were classified as other long-term liabilities. These accruals include remediation and monitoring costs expected to be incurred over an extended period of time. Estimated liabilities could increase in the future when the results of ongoing investigations become known, are considered probable and can be reasonably estimated.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
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, 2024, 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 0.5%, 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 Our wholly owned subsidiary, HEP, has a $1.2 billion seni or secured revolving credit facility maturing in July 2025 (the “HEP Credit Agreement”). In connection with the consummation of the HEP Merger Transaction, we amended the HEP Credit Agreement to, among other things, (a) provide a guaranty from us and terminate all guaranties from subsidiaries of HEP, (b) amend the definition of “Investment Grade Rating” (as defined in the HEP Credit Agreement) to reference the credit rating of our senior unsecured indebtedness, (c) eliminate the requirement to deliver separate audited and unaudited financial statements for HEP and its subsidiaries and only provide certain segment-level reporting for HEP with any compliance certificate delivered in accordance with the HEP Credit Agreement and (d) amend certain covenants to eliminate certain restrictions on (i) amendments to intercompany contracts, (ii) transactions with us and our subsidiaries and (iii) investments in and contributions, dividends, transfers and distributions to us and our subsidiaries. The HEP Credit Agreement is available to fund capital expenditures, investments, acquisitions, distribution payments, working capital and for general corporate purposes. It is also available to fund letters of credit up to a $50 million sub-limit and has an accordion feature that allows us to increase the commitments under the HEP Credit Agreement up to a maximum amount of $1.7 billion. At June 30, 2024, we were in compliance with all of its covenants, had outstanding borrowings of $350.0 million an d 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 our 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 the Total Leverage Ratio (as defined in the HEP Credit Agreement). The weighted average interest rate in effect under the HEP Credit Agreement on our borrowings was 7.07% as of June 30, 2024. Senior Notes Our unsecured senior notes and unsubordinated obligations (as set forth in the table below under “HF Sinclair Financing Arrangements”) 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 $35.6 million and $37.0 million at June 30, 2024 and December 31, 2023, respectively, and are included in “Accrued liabilities” on our consolidated balance sheets. See Note 4 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, 2024, there were no letters of credit outstanding under such credit facilities. The principal and carrying amounts of long-term debt are as follows: Carrying Amount (1) Maturity Date June 30, 2024 December 31, 2023 HollyFrontier Corporation Senior Notes: 5.875% Senior Notes April 2026 $ 202,900 $ 202,900 4.500% Senior Notes October 2030 74,966 74,966 277,866 277,866 HF Sinclair Senior Notes: 5.875% Senior Notes April 2026 797,100 797,100 4.500% Senior Notes October 2030 325,034 325,034 5.000% Senior Notes February 2028 498,879 498,879 6.375% Senior Notes April 2027 399,875 399,875 2,020,888 2,020,888 HEP Senior Notes: 5.000% Senior Notes February 2028 1,121 1,121 6.375% Senior Notes April 2027 125 125 1,246 1,246 Total Senior Notes 2,300,000 2,300,000 HEP Credit Agreement July 2025 350,000 455,500 HF Sinclair Credit Agreement April 2026 — — Total Credit Agreements 350,000 455,500 Unamortized discount and debt issuance costs (14,281) (16,417) Total long-term debt, net $ 2,635,719 $ 2,739,083 (1) As of June 30, 2024 and December 31, 2023, the carrying amounts of our Senior Notes equaled the principal amounts. The fair values of the senior notes are as follows: June 30, 2024 December 31, 2023 (In thousands) HollyFrontier Corporation, HF Sinclair and HEP Senior Notes $ 2,261,980 $ 2,271,856 These fair values are based on a Level 2 input. See Note 4 for additional information on Level 2 inputs. We capitalized $0.8 million and $1.2 million for the three months ended June 30, 2024 and 2023, respectively, and $1.5 million and $2.5 million for the six months ended June 30, 2024 and 2023, respectively, of interest attributable to construction projects.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2024
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 swap contracts to lock in basis spread differentials on forecasted purchases of crude oil and 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 tables present 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 Gain (Loss) Reclassified Derivatives Designated as Cash Flow Hedging Instruments Three Months Ended June 30, Income Statement Location Three Months Ended June 30, 2024 2023 2024 2023 (In thousands) (In thousands) Commodity contracts $ (456) $ (271) Sales and other revenues $ (305) $ 271 Total $ (456) $ (271) $ (305) $ 271 Net Unrealized Loss Gain (Loss) Reclassified Derivatives Designated as Cash Flow Hedging Instruments Six Months Ended June 30, Income Statement Location Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) (In thousands) Commodity contracts $ (456) $ — Sales and other revenues $ (4,592) $ 270 Total $ (456) $ — $ (4,592) $ 270 Economic Hedges We have commodity contracts, including NYMEX futures contracts, to lock in prices on forecasted inventory purchases and sales. We have basis swap contracts to mitigate exposure to natural gas price volatility. We periodically have forward purchase and sale contracts to lock in basis spread differentials on forecasted crude oil and refined products purchases. We use collar contracts to mitigate exposure to natural gas price volatility; these contracts 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 precious metals catalyst financing arrangements discussed in Note 9 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Commodity contracts Cost of materials and other $ 1,538 $ 13,154 $ (19,127) $ 19,902 Operating expenses (1,665) 3,648 (1,878) (10,410) Interest expense (3,993) 2,514 (1,230) 4,920 Foreign currency contracts Gain (loss) on foreign currency transactions 3,540 (8,716) 13,671 (8,602) Total $ (580) $ 10,600 $ (8,564) $ 5,810 As of June 30, 2024, we have the following notional contract volumes related to outstanding derivative instruments: Notional Contract Volumes Total Outstanding Notional 2024 2025 Unit of Measure Derivatives Designated as Hedging Instruments Forward diesel contracts - short 125,000 125,000 — Barrels Derivatives Not Designated as Hedging Instruments NYMEX futures (WTI) - short 1,790,000 1,790,000 — Barrels Forward gasoline and diesel contracts - long 150,000 150,000 — Barrels Foreign currency forward contracts 385,904,193 177,833,367 208,070,826 U.S. dollar Forward commodity contracts (platinum) 34,628 2,047 32,581 Troy ounces Natural gas price swaps (basis spread) - long 2,208,000 2,208,000 — MMBTU The following tables present 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, 2024 Derivatives designated as cash flow hedging instruments: Commodity forward contracts $ — $ — $ — $ 210 $ — $ 210 $ — $ — $ — $ 210 $ — $ 210 Derivatives not designated as cash flow hedging instruments: NYMEX futures contracts $ — $ — $ — $ 4,674 $ — $ 4,674 Commodity price swap contracts — — — 1,495 — 1,495 Commodity forward contracts 574 — 574 528 — 528 Foreign currency forward contracts 4,169 (908) 3,261 51 — 51 $ 4,743 $ (908) $ 3,835 $ 6,748 $ — $ 6,748 Total net balance $ 3,835 $ 6,958 Balance sheet classification: Prepayment and other $ 3,835 Accrued liabilities $ 6,958 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, 2023 Derivatives not designated as cash flow hedging instruments: NYMEX futures contracts $ 836 $ — $ 836 $ — $ — $ — Commodity price swap contracts — — — 7,808 — 7,808 Commodity forward contracts 2,908 — 2,908 1,848 — 1,848 Foreign currency forward contracts — — — 7,893 — 7,893 $ 3,744 $ — $ 3,744 $ 17,549 $ — $ 17,549 Total net balance $ 3,744 $ 17,549 Balance sheet classification: Prepayment and other $ 3,744 Accrued liabilities $ 17,549

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders ’ Equity On April 1, 2024, we repurchased 5,000,000 shares of our outstanding common stock from REH Company (“REH Company” and together with its affiliate REH Advisors Inc., “REH”) in a privately negotiated transaction under the share repurchase program approved by our Board of Directors in August 2023 (the “August 2023 Share Repurchase Program”) and pursuant to the Stock Purchase Agreement, dated April 1, 2024 (the “April 2024 Stock Purchase Agreement”), between us and REH Company. The price paid under the April 2024 Stock Purchase Agreement was $59.22 per share resulting in an aggregate purchase price of $296.1 million. The purchase price was funded with cash on hand. As of May 7, 2024, we had repurchased $785.8 million under the August 2023 Share Repurchase Program. On May 7, 2024, our Board of Directors approved a new $1.0 billion share repurchase program (the “May 2024 Share Repurchase Program”), which replaced all existing share repurchase programs, including the approximately $214.2 million remaining under the August 2023 Share Repurchase Program. The May 2024 Share Repurchase Program authorizes us to repurchase common stock in the open market or through privately negotiated transactions. Privately negotiated repurchases from REH are also authorized under the May 2024 Share Repurchase Program, subject to REH’s interest in selling its shares and other limitations. The timing and amount of share repurchases, including those from REH, will depend on market conditions and corporate, tax, regulatory and other relevant considerations. 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. The May 2024 Share Repurchase Program may be discontinued at any time by our Board of Directors. On May 14, 2024, we repurchased 1,348,435 shares of our outstanding common stock from REH Company in a privately negotiated transaction under the May 2024 Share Repurchase Program and pursuant to the Stock Purchase Agreement, dated May 14, 2024 (the “May 2024 Stock Purchase Agreement”), between us and REH Company. The price paid under the May 2024 Stock Purchase Agreement was $55.62 per share resulting in an aggregate purchase price of $75.0 million. The purchase price was funded with cash on hand. As of June 30, 2024, we had remaining authorization to repurchase up to $925.0 million under the May 2024 Share Repurchase Program. The following table presents the total open market and privately negotiated purchases of shares under our share repurchase programs for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Number of shares repurchased (1) 6,348,435 — 9,279,177 4,793,857 Cash paid for shares repurchased (in thousands) $ 371,100 $ — $ 537,228 $ 240,323 (1) During the six months ended June 30, 2024, 7,864,761 shares were repurchased for $456.1 million, pursuant to privately negotiated repurchases from REH Company. 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, 2024 and 2023, we withheld 59,626 and 18,349 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 1, 2024, our Board of Directors announced that it declared a regular quarterly dividend in the amount of $0.50 per share, payable on September 5, 2024 to holders of record of common stock on August 21, 2024.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2024
Other Comprehensive Income (Loss), before Tax [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) The components and allocated tax effects of other comprehensive income (loss) are as follows: Before-Tax Tax Expense After-Tax (In thousands) Three Months Ended June 30, 2024 Net change in foreign currency translation adjustment $ (5,241) $ (1,101) $ (4,140) Net unrealized loss on hedging instruments (456) (110) (346) Net change in pension and other post-retirement benefit obligations (716) (166) (550) Other comprehensive loss attributable to HF Sinclair stockholders $ (6,413) $ (1,377) $ (5,036) 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 Before-Tax Tax Expense After-Tax (In thousands) Six Months Ended June 30, 2024 Net change in foreign currency translation adjustment $ (17,847) $ (3,744) $ (14,103) Net unrealized loss on hedging activities (456) (110) (346) Net change in pension and other post-retirement benefit obligations (1,415) (335) (1,080) Other comprehensive loss attributable to HF Sinclair stockholders $ (19,718) $ (4,189) $ (15,529) 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 The following table presents the statements of income line item effects for reclassifications out of accumulated other comprehensive income (“AOCI”): Three Months Ended June 30, AOCI Component 2024 2023 Statement of Income Line Item (In thousands) Hedging instruments: Commodity price swaps $ (305) $ 271 Sales and other revenues (74) 66 Income tax expense (benefit) (231) 205 Net of tax Other post-retirement benefit obligations: Pension obligations (215) 45 Gain (loss) on sale of assets and other (61) 11 Income tax expense (benefit) (154) 34 Net of tax Post-retirement healthcare obligations 935 918 Gain on sale of assets and other 228 223 Income tax expense 707 695 Net of tax Retirement restoration plan (4) (3) Loss on sale of assets and other (1) (1) Income tax benefit (3) (2) Net of tax Total reclassifications for the period $ 319 $ 932 Six Months Ended June 30, AOCI Component 2024 2023 Statement of Income Line Item (In thousands) Hedging instruments: Commodity price swaps $ (4,592) $ 270 Sales and other revenues (1,113) 65 Income tax expense (3,479) 205 Net of tax Other post-retirement benefit obligations: Pension obligations (432) 90 Gain (loss) on sale of assets and other (114) 22 Income tax expense (318) 68 Net of tax Post-retirement healthcare obligations 1,857 1,836 Gain on sale of assets and other 451 445 Income tax expense 1,406 1,391 Net of tax Retirement restoration plan (10) (6) Gain on sale of assets and other (2) (1) Income tax benefit (8) (5) Net of tax Total reclassifications for the period $ (2,399) $ 1,659 Accumulated other comprehensive loss in the equity section of our consolidated balance sheets includes: June 30, 2024 December 31, 2023 (In thousands) Foreign currency translation adjustment $ (37,129) $ (23,026) Unrealized gain on pension obligations 1,051 619 Unrealized gain on post-retirement benefit obligations 9,111 10,623 Unrealized loss on hedging instruments (346) — Accumulated other comprehensive loss $ (27,313) $ (11,784)

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2024
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 the 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. During 2017 and 2019, the EPA granted the Cheyenne, Wyoming refinery (the “Cheyenne Refinery”) and the refinery in Woods Cross, Utah (the “Woods Cross Refinery”) each a one-year small refinery exemption from the Renewable Fuel Standard program requirements for the 2016 and 2018, respectively, compliance years. As a result, the Cheyenne Refinery’s and Woods Cross Refinery’s gasoline and diesel production were not subject to the renewable volume obligation for the respective years. Upon each exemption granted, we increased our inventory of RINs and reduced our cost of materials and other. On April 7, 2022, the EPA issued a decision reversing the grant of small refinery exemptions for our Woods Cross Refinery and Cheyenne Refinery for the 2018 compliance year. On June 3, 2022, the EPA issued a decision reversing the grant of small refinery exemptions for our Woods Cross Refinery and Cheyenne Refinery for the 2016 compliance year and denying small refinery exemption petitions for our Woods Cross Refinery and Cheyenne Refinery for the 2019 and 2020 compliance years. Certain of our subsidiaries pursued legal challenges to the EPA’s decisions to deny small refinery exemptions for the 2016, 2018, 2019 and 2020 compliance years. The first lawsuit, filed against the EPA on May 6, 2022, before the U.S. Court of Appeals for the DC Circuit, sought to have the EPA’s reversal of our 2018 small refinery exemption petitions overturned. The second lawsuit, filed against the EPA on August 5, 2022, before the U.S. Court of Appeals for the DC Circuit, sought to have the EPA’s reversal of our 2016 small refinery exemption petitions overturned and to have the EPA’s denial of our 2019 and 2020 small refinery exemption petitions reversed. In addition, pursuant to the June 2022 and April 2022 decisions, respectively, the EPA established an alternative compliance demonstration to not impose obligations on small refineries that had exemptions reversed for the 2016 and 2018 compliance years. On June 24, 2022, Growth Energy filed two lawsuits in the U.S. Court of Appeals for the DC Circuit against the EPA, challenging the alternative compliance demonstration for the 2016 and 2018 compliance years. On July 25, 2022, certain of our subsidiaries intervened on behalf of the EPA to aid the defense of the EPA’s alternative compliance demonstration decision. On July 26, 2024, the U.S. Court of Appeals for the DC Circuit issued a favorable decision vacating the EPA’s denial of all of our small refinery exemption petitions, finding the denial to be unlawful. The DC Circuit will remand the small refinery exemption petitions to the EPA for new determination. The DC Circuit also upheld the alternative compliance demonstration and denied Growth Energy’s challenge. Since these decisions are still subject to appeal, it is too early to determine their final impact. We are unable to estimate the costs we may incur, if any, at this time.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information Our operations are organized into five reportable segments: Refining, Renewables, Marketing, Lubricants & Specialties and Midstream. 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, Puget Sound, Parco and Casper refineries and HF Sinclair Asphalt Company LLC (“Asphalt”). 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”), Artesia RDU, the Sinclair RDU and the pre-treatment unit at our Artesia, New Mexico facility. 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 Corporation (“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 & Specialties segment represents Petro-Canada Lubricants Inc.’s production operations, located in Mississauga, Ontario, which 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 & Specialties 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 leading suppliers of locomotive engine oil in North America. Also, the Lubricants & Specialties 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 Midstream segment includes all of the operations of HEP, which owns and operates logistics and refinery assets consisting of petroleum product and crude oil pipelines, and terminals, tankage and loading rack facilities in the Mid-Continent, Southwest and Rocky Mountains geographic regions of the United States. The Midstream segment also includes 50% ownership interests in each of Osage Pipeline Company, LLC, the owner of a pipeline running from Cushing, Oklahoma to El Dorado, Kansas, Cheyenne Pipeline, LLC, the owner of a pipeline running from Fort Laramie, Wyoming to Cheyenne, Wyoming, and Cushing Connect, a 25.12% ownership interest in Saddle Butte Pipeline III, LLC, the owner of a pipeline running from the Powder River Basin to Casper, Wyoming, and a 49.995% ownership interest in Pioneer Investments Corp., the owner of a pipeline running from Sinclair, Wyoming to the North Salt Lake City, Utah Terminal. Revenues from the Midstream 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. Beginning in the first quarter of 2024, our Refining segment acquired from our Midstream segment the refinery processing units at our El Dorado and Woods Cross refineries. Additionally, we amended an intercompany agreement between certain of our subsidiaries within the Refining, Lubricants & Specialties and Midstream segments. As a result, we have revised our Refining, Lubricants & Specialties and Midstream segment information for the periods presented. 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, 2023. Refining Renewables Marketing Lubricants & Specialties Midstream Corporate, Other Consolidated (In thousands) Three Months Ended June 30, 2024 Sales and other revenues: Revenues from external customers $ 5,970,098 $ 180,228 $ 942,362 $ 726,049 $ 27,094 $ — $ 7,845,831 Intersegment revenues and other (1) 1,007,711 68,050 — 5,350 131,087 (1,212,198) — $ 6,977,809 $ 248,278 $ 942,362 $ 731,399 $ 158,181 $ (1,212,198) $ 7,845,831 Cost of sales (exclusive of depreciation and amortization): Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment) 6,291,029 220,056 919,611 531,390 — (1,211,561) 6,750,525 Lower of cost or market inventory valuation adjustment — (3,123) — — — — (3,123) Operating expenses 449,097 24,705 — 64,445 51,089 1,981 591,317 6,740,126 241,638 919,611 595,835 51,089 (1,209,580) 7,338,719 Selling, general and administrative expenses 50,740 1,384 7,345 38,209 2,925 4,255 104,858 Depreciation and amortization 122,215 19,786 6,374 22,716 14,943 19,286 205,320 Income (loss) from operations $ 64,728 $ (14,530) $ 9,032 $ 74,639 $ 89,224 $ (26,159) $ 196,934 Earnings of equity method investments $ — $ — $ — $ — $ 7,158 $ 957 $ 8,115 Capital expenditures $ 35,694 $ 3,271 $ 12,960 $ 7,173 $ 11,144 $ 13,967 $ 84,209 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 and other (1) 1,137,669 98,122 — 4,529 106,540 (1,346,860) — $ 7,039,382 $ 273,185 $ 1,040,933 $ 690,633 $ 136,373 $ (1,346,860) $ 7,833,646 Cost of sales (exclusive of depreciation and amortization): Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment) 5,842,573 258,806 1,008,306 510,581 — (1,346,661) 6,273,605 Lower of cost or market inventory valuation adjustment 26,842 (34,705) — — — — (7,863) Operating expenses 411,324 24,373 — 64,034 45,853 1,216 546,800 6,280,739 248,474 1,008,306 574,615 45,853 (1,345,445) 6,812,542 Selling, general and administrative expenses 53,038 1,336 8,127 44,914 5,512 14,461 127,388 Depreciation and amortization 112,542 18,968 6,016 20,379 21,819 9,636 189,360 Income (loss) from operations $ 593,063 $ 4,407 $ 18,484 $ 50,725 $ 63,189 $ (25,512) $ 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 Refining Renewables Marketing Lubricants & Specialties Midstream Corporate, Other Consolidated (In thousands) Six Months Ended June 30, 2024 Sales and other revenues: Revenues from external customers $ 11,343,123 $ 359,897 $ 1,718,169 $ 1,401,594 $ 50,193 $ — $ 14,872,976 Intersegment revenues and other (1) 1,838,931 127,940 — 7,792 263,003 (2,237,666) — $ 13,182,054 $ 487,837 $ 1,718,169 $ 1,409,386 $ 313,196 $ (2,237,666) $ 14,872,976 Cost of sales (exclusive of depreciation and amortization): Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment) 11,765,551 450,329 1,672,141 1,024,236 — (2,235,232) 12,677,025 Lower of cost or market inventory valuation adjustment (220,558) (1,935) — — — — (222,493) Operating expenses 921,183 51,166 — 128,445 96,607 1,028 1,198,429 12,466,176 499,560 1,672,141 1,152,681 96,607 (2,234,204) 13,652,961 Selling, general and administrative expenses 99,457 2,786 15,101 72,777 6,854 11,257 208,232 Depreciation and amortization 239,585 40,058 12,677 45,227 35,063 31,439 404,049 Income (loss) from operations $ 376,836 $ (54,567) $ 18,250 $ 138,701 $ 174,672 $ (46,158) $ 607,734 Earnings of equity method investments $ — $ — $ — $ — $ 14,546 $ 915 $ 15,461 Capital expenditures $ 90,718 $ 5,921 $ 20,491 $ 12,484 $ 19,249 $ 24,454 $ 173,317 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 and other (1) 2,191,070 193,725 — 10,325 216,056 (2,611,176) — $ 13,757,997 $ 571,201 $ 1,978,318 $ 1,430,143 $ 272,305 $ (2,611,176) $ 15,398,788 Cost of sales (exclusive of depreciation and amortization): Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment) 11,483,704 521,544 1,932,355 1,049,441 — (2,609,382) 12,377,662 Lower of cost or market inventory valuation adjustment 26,842 12,892 — — — — 39,734 Operating expenses 913,083 55,744 — 127,627 87,532 2,197 1,186,183 12,423,629 590,180 1,932,355 1,177,068 87,532 (2,607,185) 13,603,579 Selling, general and administrative expenses 92,116 2,251 15,090 84,178 10,147 19,519 223,301 Depreciation and amortization 212,625 38,942 11,887 39,747 41,581 18,561 363,343 Income (loss) from operations $ 1,029,627 $ (60,172) $ 18,986 $ 129,150 $ 133,045 $ (42,071) $ 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 (1) Includes income earned by certain of our subsidiaries in the Midstream segment related to intercompany transportation agreements with certain of our subsidiaries in the Refining and Lubricants & Specialties segments that represent leases. These transactions eliminate in consolidation.

Description of Business and P_2

Description of Business and Presentation of Financial Statements (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	References herein to HF Sinclair, “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. References herein to Holly Energy Partners, L.P. (“HEP”) with respect to time periods prior to the closing of the HEP Merger Transaction (as defined below) on December 1, 2023 refer 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. We provide petroleum product and crude oil transportation, terminalling, storage and throughput services to our refineries and the petroleum industry. We market our refined products principally in the Southwest United States, the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states and we supply high-quality fuels to more than 1,500 branded stations and license the use of the Sinclair brand at more than 300 additional locations throughout the country. We produce renewable diesel at two of our facilities in Wyoming and our facility in New Mexico. 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.
Basis of Accounting	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, 2024, the consolidated results of income, comprehensive income and statements of equity for the three and six months ended June 30, 2024 and 2023, and consolidated cash flows for the six months ended June 30, 2024 and 2023 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, 2023, which were recast to reflect changes in our reportable segments as described in Note 14, and are included in Exhibit 99.1 to the Quarterly Report on Form 10-Q for the quarter ended March 31, 2024.
Accounts Receivable	Accounts Receivable:
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 renewables 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 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 that 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 sheets. Finance leases are included in “Properties, plants and equipment, at cost,” “Accrued liabilities” and “Other long-term liabilities” on our consolidated balance sheets. 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 consolidated balance sheets. 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, as a lessor, we do not separate the non-lease (service) component in contracts in which the lease component is the dominant component. We treat these combined components as an operating lease. We bifurcate the consideration received for sales-type lease contracts between lease and service revenue, with the service component accounted for within the scope of ASC 606, “Revenue from Contracts with Customers.”
Lessor	Our consolidated statements of income reflect the lease revenue we recognize from contracts with third parties in which we are the lessor. As the lessor, we classify customer contracts that contain leases into one of three categories: operating leases, direct finance leases, or sales-type leases. This classification is determined by evaluating key factors such as the lease term, the fair value of the underlying asset, and the residual value of the underlying assets.
Revenue Recognition	Revenue Recognition: Revenues on refined products, 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 in cost of materials and other. Our Lubricants & Specialties 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 & Specialties 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. Our Midstream business recognizes revenues as products are shipped through its pipelines and terminals and as other services are rendered. Additionally, we have certain throughput agreements that specify minimum volume requirements, whereby we bill 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, we recognize 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. We recognize the service portion of these deficiency payments as revenue when we do 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 in the Lubricants & Specialties segment operations, but in Corporate and Other. See Note 14 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 the 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: 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/bu
Accounting Pronouncements - Not Yet Adopted	Accounting Pronouncements - Not Yet Adopted In November 2023, Accounting Standards Update (“ASU”) 2023-07, “Improvements to Reportable Segment Disclosures” was issued. ASU 2023-07 requires, among other updates, enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker, as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This aims to provide more decision-useful information to stakeholders by giving a clearer picture of the costs incurred by each reportable segment. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. We are assessing the impact of this guidance on our disclosures.
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.

Cushing Connect Joint Venture (

Cushing Connect Joint Venture (Tables)	6 Months Ended
	Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Variable Interest Entities	The most significant assets of Cushing Connect and Cushing Connect Pipeline that are available to settle only their obligations, along with their most significant liabilities for which their creditors do not have recourse to our general credit, were: June 30, 2024 December 31, 2023 (In thousands) Cash and cash equivalents $ 1,486 $ 1,536 Properties, plants and equipment, at cost $ 102,977 $ 102,936 Less: accumulated depreciation $ (9,794) $ (8,022) Intangibles and other $ 30,856 $ 32,473

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues	Disaggregated revenues were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Revenues by type Refined product revenues Transportation fuels (1) $ 5,005,535 $ 4,725,169 $ 9,634,166 $ 9,233,063 Specialty lubricant products (2) 644,163 635,375 1,258,384 1,315,237 Asphalt, fuel oil and other products (3) 568,960 572,520 1,052,276 1,012,859 Total refined product revenues 6,218,658 5,933,064 11,944,826 11,561,159 Excess crude oil revenues (4) 436,796 621,750 703,892 1,332,647 Renewable diesel revenues (5) 190,137 175,063 369,806 377,476 Transportation and logistics services 27,094 29,833 50,193 56,249 Marketing revenues (6) 942,362 1,040,933 1,718,169 1,978,318 Other revenues (7) 30,784 33,003 86,090 92,939 Total sales and other revenues $ 7,845,831 $ 7,833,646 $ 14,872,976 $ 15,398,788 Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Refined product revenues by market United States: Mid-Continent $ 2,409,853 $ 2,276,837 $ 4,625,694 $ 4,283,993 Southwest 1,082,895 890,586 2,058,597 1,723,288 Rocky Mountains 2,155,871 2,207,770 4,144,362 4,405,597 Northeast 212,722 233,695 432,069 497,599 Canada 288,276 254,952 544,048 505,676 Europe, Asia and Latin America 69,041 69,224 140,056 145,006 Total refined product revenues $ 6,218,658 $ 5,933,064 $ 11,944,826 $ 11,561,159 (1) Transportation fuels revenues are attributable to our Refining segment’s wholesale marketing of gasoline, diesel and jet fuel. (2) Specialty lubricant products consist of base oil, waxes, finished lubricants and other specialty fluids. (3) Revenues from asphalt, fuel oil and other products include amounts attributable to our Refining and Lubricants & Specialties segments of $488.1 million and $80.9 million, respectively, for the three months ended June 30, 2024, $910.1 million and $142.1 million, respectively, for the six months ended June 30, 2024, $522.2 million and $50.3 million, respectively, for the three months ended June 30, 2023, and $909.0 million and $103.8 million, respectively, for the six months ended June 30, 2023. (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 principally attributable to our Renewables segment. (6) Marketing revenues consist primarily 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 present s changes to our contract liabilities: Six Months Ended June 30, 2024 2023 (In thousands) Balance at January 1 $ 7,533 $ 10,722 Increase 10,936 9,547 Recognized as revenue (11,666) (10,986) Balance at June 30 $ 6,803 $ 9,283
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: Contractual Minimum Remainder of 2024 2025 2026 Thereafter Total (In thousands) Refined product sales volumes (barrels) 16,254 26,553 18,852 46,690 108,349 Annual minimum revenues attributable to our third-party contracts as of June 30, 2024, are presented below: Contractual Minimum Remainder of 2024 2025 2026 Thereafter Total (In thousands) Midstream operations revenues $ 10,426 $ 11,242 $ 7,782 $ 43,308 $ 72,758

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements of Asset and Liability Instruments	The carrying amounts of derivative instruments and RINs credit obligations at June 30, 2024 and December 31, 2023 were as follows: Fair Value by Input Level Carrying Amount Level 1 Level 2 Level 3 (In thousands) June 30, 2024 Assets: Commodity forward contracts $ 574 $ — $ 574 $ — Foreign currency forward contracts 3,261 — 3,261 — Total assets $ 3,835 $ — $ 3,835 $ — Liabilities: NYMEX futures contracts $ 4,674 $ 4,674 $ — $ — Commodity price swaps 1,495 — 1,495 — Commodity forward contracts 738 — 738 — Foreign currency forward contracts 51 — 51 — RINs credit obligations (1) 22,745 — 22,745 — Total liabilities $ 29,703 $ 4,674 $ 25,029 $ — Fair Value by Input Level Carrying Amount Level 1 Level 2 Level 3 (In thousands) December 31, 2023 Assets: NYMEX futures contracts $ 836 $ 836 $ — $ — Commodity forward contracts 2,908 — 2,908 — Total assets $ 3,744 $ 836 $ 2,908 $ — Liabilities: Commodity price swaps $ 7,808 $ — $ 7,808 $ — Commodity forward contracts 1,848 — 1,848 — Foreign currency forward contracts 7,893 — 7,893 — Total liabilities $ 17,549 $ — $ 17,549 $ — (1) Represent obligations for RINs credits for which we did not have sufficient quantities at June 30, 2024 to satisfy our Environmental Protection Agency (“EPA”) regulatory blending requirements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands, except per share data) Net income attributable to HF Sinclair stockholders $ 151,788 $ 507,661 $ 466,452 $ 860,927 Participating securities’ share in earnings (1) 841 4,411 2,754 7,304 Net income attributable to common shares $ 150,947 $ 503,250 $ 463,698 $ 853,623 Average number of shares of common stock outstanding 191,510 192,348 195,110 193,888 Average number of shares of common stock outstanding assuming dilution 191,510 192,348 195,110 193,888 Basic earnings per share $ 0.79 $ 2.62 $ 2.38 $ 4.40 Diluted earnings per share $ 0.79 $ 2.62 $ 2.38 $ 4.40 (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, 2024
Share-Based Payment Arrangement [Abstract]
Schedule Of Restricted Stock Activity	A summary of restricted stock units and performance share units activity during the six months ended June 30, 2024, is presented below: Restricted Stock Units Performance Share Units Outstanding at January 1, 2024 1,102,755 485,531 Granted (1) 3,268 1,248 Vested (156,949) (1,859) Forfeited (198,404) (59,740) Outstanding at June 30, 2024 750,670 425,180 (1) Weighted average grant date fair value per unit. $ 57.19 $ 53.43
Schedule Of Performance Share Activity	A summary of restricted stock units and performance share units activity during the six months ended June 30, 2024, is presented below: Restricted Stock Units Performance Share Units Outstanding at January 1, 2024 1,102,755 485,531 Granted (1) 3,268 1,248 Vested (156,949) (1,859) Forfeited (198,404) (59,740) Outstanding at June 30, 2024 750,670 425,180 (1) Weighted average grant date fair value per unit. $ 57.19 $ 53.43

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory Components	Inventories consist of the following components: June 30, 2024 December 31, 2023 (In thousands) Crude oil $ 829,845 $ 858,411 Other raw materials and unfinished products (1) 736,298 683,066 Finished products (2) 1,426,590 1,435,817 Lower of cost or market reserve (109,077) (331,570) Process chemicals (3) 48,713 50,917 Repair and maintenance supplies and other (4) 227,789 225,190 Total inventory $ 3,160,158 $ 2,921,831 (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, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Carrying Amounts	The principal and carrying amounts of long-term debt are as follows: Carrying Amount (1) Maturity Date June 30, 2024 December 31, 2023 HollyFrontier Corporation Senior Notes: 5.875% Senior Notes April 2026 $ 202,900 $ 202,900 4.500% Senior Notes October 2030 74,966 74,966 277,866 277,866 HF Sinclair Senior Notes: 5.875% Senior Notes April 2026 797,100 797,100 4.500% Senior Notes October 2030 325,034 325,034 5.000% Senior Notes February 2028 498,879 498,879 6.375% Senior Notes April 2027 399,875 399,875 2,020,888 2,020,888 HEP Senior Notes: 5.000% Senior Notes February 2028 1,121 1,121 6.375% Senior Notes April 2027 125 125 1,246 1,246 Total Senior Notes 2,300,000 2,300,000 HEP Credit Agreement July 2025 350,000 455,500 HF Sinclair Credit Agreement April 2026 — — Total Credit Agreements 350,000 455,500 Unamortized discount and debt issuance costs (14,281) (16,417) Total long-term debt, net $ 2,635,719 $ 2,739,083 (1) As of June 30, 2024 and December 31, 2023, the carrying amounts of our Senior Notes equaled the principal amounts. The fair values of the senior notes are as follows: June 30, 2024 December 31, 2023 (In thousands) HollyFrontier Corporation, HF Sinclair and HEP Senior Notes $ 2,261,980 $ 2,271,856

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Net Unrealized Gain (Loss) Recognized in OCI and Gain (Loss) Reclassified into Earnings	The following tables present 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 Gain (Loss) Reclassified Derivatives Designated as Cash Flow Hedging Instruments Three Months Ended June 30, Income Statement Location Three Months Ended June 30, 2024 2023 2024 2023 (In thousands) (In thousands) Commodity contracts $ (456) $ (271) Sales and other revenues $ (305) $ 271 Total $ (456) $ (271) $ (305) $ 271 Net Unrealized Loss Gain (Loss) Reclassified Derivatives Designated as Cash Flow Hedging Instruments Six Months Ended June 30, Income Statement Location Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) (In thousands) Commodity contracts $ (456) $ — Sales and other revenues $ (4,592) $ 270 Total $ (456) $ — $ (4,592) $ 270
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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Commodity contracts Cost of materials and other $ 1,538 $ 13,154 $ (19,127) $ 19,902 Operating expenses (1,665) 3,648 (1,878) (10,410) Interest expense (3,993) 2,514 (1,230) 4,920 Foreign currency contracts Gain (loss) on foreign currency transactions 3,540 (8,716) 13,671 (8,602) Total $ (580) $ 10,600 $ (8,564) $ 5,810
Schedule of Notional Amounts of Outstanding Derivatives Serving as Economic Hedges	As of June 30, 2024, we have the following notional contract volumes related to outstanding derivative instruments: Notional Contract Volumes Total Outstanding Notional 2024 2025 Unit of Measure Derivatives Designated as Hedging Instruments Forward diesel contracts - short 125,000 125,000 — Barrels Derivatives Not Designated as Hedging Instruments NYMEX futures (WTI) - short 1,790,000 1,790,000 — Barrels Forward gasoline and diesel contracts - long 150,000 150,000 — Barrels Foreign currency forward contracts 385,904,193 177,833,367 208,070,826 U.S. dollar Forward commodity contracts (platinum) 34,628 2,047 32,581 Troy ounces Natural gas price swaps (basis spread) - long 2,208,000 2,208,000 — MMBTU
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following tables present 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, 2024 Derivatives designated as cash flow hedging instruments: Commodity forward contracts $ — $ — $ — $ 210 $ — $ 210 $ — $ — $ — $ 210 $ — $ 210 Derivatives not designated as cash flow hedging instruments: NYMEX futures contracts $ — $ — $ — $ 4,674 $ — $ 4,674 Commodity price swap contracts — — — 1,495 — 1,495 Commodity forward contracts 574 — 574 528 — 528 Foreign currency forward contracts 4,169 (908) 3,261 51 — 51 $ 4,743 $ (908) $ 3,835 $ 6,748 $ — $ 6,748 Total net balance $ 3,835 $ 6,958 Balance sheet classification: Prepayment and other $ 3,835 Accrued liabilities $ 6,958 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, 2023 Derivatives not designated as cash flow hedging instruments: NYMEX futures contracts $ 836 $ — $ 836 $ — $ — $ — Commodity price swap contracts — — — 7,808 — 7,808 Commodity forward contracts 2,908 — 2,908 1,848 — 1,848 Foreign currency forward contracts — — — 7,893 — 7,893 $ 3,744 $ — $ 3,744 $ 17,549 $ — $ 17,549 Total net balance $ 3,744 $ 17,549 Balance sheet classification: Prepayment and other $ 3,744 Accrued liabilities $ 17,549

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Purchases of Shares under Share Repurchase Program	The following table presents the total open market and privately negotiated purchases of shares under our share repurchase programs for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Number of shares repurchased (1) 6,348,435 — 9,279,177 4,793,857 Cash paid for shares repurchased (in thousands) $ 371,100 $ — $ 537,228 $ 240,323 (1) During the six months ended June 30, 2024, 7,864,761 shares were repurchased for $456.1 million, pursuant to privately negotiated repurchases from REH Company. 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 (L_2

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2024
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 (loss) are as follows: Before-Tax Tax Expense After-Tax (In thousands) Three Months Ended June 30, 2024 Net change in foreign currency translation adjustment $ (5,241) $ (1,101) $ (4,140) Net unrealized loss on hedging instruments (456) (110) (346) Net change in pension and other post-retirement benefit obligations (716) (166) (550) Other comprehensive loss attributable to HF Sinclair stockholders $ (6,413) $ (1,377) $ (5,036) 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 Before-Tax Tax Expense After-Tax (In thousands) Six Months Ended June 30, 2024 Net change in foreign currency translation adjustment $ (17,847) $ (3,744) $ (14,103) Net unrealized loss on hedging activities (456) (110) (346) Net change in pension and other post-retirement benefit obligations (1,415) (335) (1,080) Other comprehensive loss attributable to HF Sinclair stockholders $ (19,718) $ (4,189) $ (15,529) 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
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 (“AOCI”): Three Months Ended June 30, AOCI Component 2024 2023 Statement of Income Line Item (In thousands) Hedging instruments: Commodity price swaps $ (305) $ 271 Sales and other revenues (74) 66 Income tax expense (benefit) (231) 205 Net of tax Other post-retirement benefit obligations: Pension obligations (215) 45 Gain (loss) on sale of assets and other (61) 11 Income tax expense (benefit) (154) 34 Net of tax Post-retirement healthcare obligations 935 918 Gain on sale of assets and other 228 223 Income tax expense 707 695 Net of tax Retirement restoration plan (4) (3) Loss on sale of assets and other (1) (1) Income tax benefit (3) (2) Net of tax Total reclassifications for the period $ 319 $ 932 Six Months Ended June 30, AOCI Component 2024 2023 Statement of Income Line Item (In thousands) Hedging instruments: Commodity price swaps $ (4,592) $ 270 Sales and other revenues (1,113) 65 Income tax expense (3,479) 205 Net of tax Other post-retirement benefit obligations: Pension obligations (432) 90 Gain (loss) on sale of assets and other (114) 22 Income tax expense (318) 68 Net of tax Post-retirement healthcare obligations 1,857 1,836 Gain on sale of assets and other 451 445 Income tax expense 1,406 1,391 Net of tax Retirement restoration plan (10) (6) Gain on sale of assets and other (2) (1) Income tax benefit (8) (5) Net of tax Total reclassifications for the period $ (2,399) $ 1,659
Schedule of AOCI in Equity	Accumulated other comprehensive loss in the equity section of our consolidated balance sheets includes: June 30, 2024 December 31, 2023 (In thousands) Foreign currency translation adjustment $ (37,129) $ (23,026) Unrealized gain on pension obligations 1,051 619 Unrealized gain on post-retirement benefit obligations 9,111 10,623 Unrealized loss on hedging instruments (346) — Accumulated other comprehensive loss $ (27,313) $ (11,784)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information	Refining Renewables Marketing Lubricants & Specialties Midstream Corporate, Other Consolidated (In thousands) Three Months Ended June 30, 2024 Sales and other revenues: Revenues from external customers $ 5,970,098 $ 180,228 $ 942,362 $ 726,049 $ 27,094 $ — $ 7,845,831 Intersegment revenues and other (1) 1,007,711 68,050 — 5,350 131,087 (1,212,198) — $ 6,977,809 $ 248,278 $ 942,362 $ 731,399 $ 158,181 $ (1,212,198) $ 7,845,831 Cost of sales (exclusive of depreciation and amortization): Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment) 6,291,029 220,056 919,611 531,390 — (1,211,561) 6,750,525 Lower of cost or market inventory valuation adjustment — (3,123) — — — — (3,123) Operating expenses 449,097 24,705 — 64,445 51,089 1,981 591,317 6,740,126 241,638 919,611 595,835 51,089 (1,209,580) 7,338,719 Selling, general and administrative expenses 50,740 1,384 7,345 38,209 2,925 4,255 104,858 Depreciation and amortization 122,215 19,786 6,374 22,716 14,943 19,286 205,320 Income (loss) from operations $ 64,728 $ (14,530) $ 9,032 $ 74,639 $ 89,224 $ (26,159) $ 196,934 Earnings of equity method investments $ — $ — $ — $ — $ 7,158 $ 957 $ 8,115 Capital expenditures $ 35,694 $ 3,271 $ 12,960 $ 7,173 $ 11,144 $ 13,967 $ 84,209 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 and other (1) 1,137,669 98,122 — 4,529 106,540 (1,346,860) — $ 7,039,382 $ 273,185 $ 1,040,933 $ 690,633 $ 136,373 $ (1,346,860) $ 7,833,646 Cost of sales (exclusive of depreciation and amortization): Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment) 5,842,573 258,806 1,008,306 510,581 — (1,346,661) 6,273,605 Lower of cost or market inventory valuation adjustment 26,842 (34,705) — — — — (7,863) Operating expenses 411,324 24,373 — 64,034 45,853 1,216 546,800 6,280,739 248,474 1,008,306 574,615 45,853 (1,345,445) 6,812,542 Selling, general and administrative expenses 53,038 1,336 8,127 44,914 5,512 14,461 127,388 Depreciation and amortization 112,542 18,968 6,016 20,379 21,819 9,636 189,360 Income (loss) from operations $ 593,063 $ 4,407 $ 18,484 $ 50,725 $ 63,189 $ (25,512) $ 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 Refining Renewables Marketing Lubricants & Specialties Midstream Corporate, Other Consolidated (In thousands) Six Months Ended June 30, 2024 Sales and other revenues: Revenues from external customers $ 11,343,123 $ 359,897 $ 1,718,169 $ 1,401,594 $ 50,193 $ — $ 14,872,976 Intersegment revenues and other (1) 1,838,931 127,940 — 7,792 263,003 (2,237,666) — $ 13,182,054 $ 487,837 $ 1,718,169 $ 1,409,386 $ 313,196 $ (2,237,666) $ 14,872,976 Cost of sales (exclusive of depreciation and amortization): Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment) 11,765,551 450,329 1,672,141 1,024,236 — (2,235,232) 12,677,025 Lower of cost or market inventory valuation adjustment (220,558) (1,935) — — — — (222,493) Operating expenses 921,183 51,166 — 128,445 96,607 1,028 1,198,429 12,466,176 499,560 1,672,141 1,152,681 96,607 (2,234,204) 13,652,961 Selling, general and administrative expenses 99,457 2,786 15,101 72,777 6,854 11,257 208,232 Depreciation and amortization 239,585 40,058 12,677 45,227 35,063 31,439 404,049 Income (loss) from operations $ 376,836 $ (54,567) $ 18,250 $ 138,701 $ 174,672 $ (46,158) $ 607,734 Earnings of equity method investments $ — $ — $ — $ — $ 14,546 $ 915 $ 15,461 Capital expenditures $ 90,718 $ 5,921 $ 20,491 $ 12,484 $ 19,249 $ 24,454 $ 173,317 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 and other (1) 2,191,070 193,725 — 10,325 216,056 (2,611,176) — $ 13,757,997 $ 571,201 $ 1,978,318 $ 1,430,143 $ 272,305 $ (2,611,176) $ 15,398,788 Cost of sales (exclusive of depreciation and amortization): Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment) 11,483,704 521,544 1,932,355 1,049,441 — (2,609,382) 12,377,662 Lower of cost or market inventory valuation adjustment 26,842 12,892 — — — — 39,734 Operating expenses 913,083 55,744 — 127,627 87,532 2,197 1,186,183 12,423,629 590,180 1,932,355 1,177,068 87,532 (2,607,185) 13,603,579 Selling, general and administrative expenses 92,116 2,251 15,090 84,178 10,147 19,519 223,301 Depreciation and amortization 212,625 38,942 11,887 39,747 41,581 18,561 363,343 Income (loss) from operations $ 1,029,627 $ (60,172) $ 18,986 $ 129,150 $ 133,045 $ (42,071) $ 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 (1) Includes income earned by certain of our subsidiaries in the Midstream segment related to intercompany transportation agreements with certain of our subsidiaries in the Refining and Lubricants & Specialties segments that represent leases. These transactions eliminate in consolidation.

Description of Business and P_3

Description of Business and Presentation of Financial Statements (Details)		3 Months Ended		6 Months Ended
	Dec. 01, 2023 USD ($) shares	Jun. 30, 2024 USD ($) facility country	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) location facility country branded_station	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Ownership Interest By Project Type [Line Items]
Number of branded stations | branded_station				1,500
Number of locations licensed to use brand | location				300
Number of countries entity licensed to exports products | country		80		80
Allowance for expected credit losses		$ 3,000,000		$ 3,000,000		$ 3,200,000
Income tax expense		$ 23,982,000	$ 145,925,000	$ 109,456,000	$ 245,625,000
Effective income tax rate				18.90%	21.10%
Proceeds from inventory repurchase agreements				$ 13,100,000	$ 12,300,000
Payments under inventory repurchase agreements				$ 13,600,000	$ 13,400,000
HEP
Ownership Interest By Project Type [Line Items]
Conversion ratio	0.315
Common stock in cash	$ 4
Transaction cash consideration transferred	$ 267,600,000
Shares issued (in shares) | shares	21,072,326
WYOMING
Ownership Interest By Project Type [Line Items]
Number of facilities producing renewable diesel | facility		2		2

Cushing Connect Joint Venture -

Cushing Connect Joint Venture - Narrative (Details) - HEP - Cushing Connect bbl in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) bbl
Holly Energy Partners Entity [Line Items)
Barrels of crude oil per day	160
Barrels of crude oil, value	1,500
Percent of budget which construction costs payable by HEP	10%
Expected construction costs | $	$ 74

Cushing Connect Joint Venture_2

Cushing Connect Joint Venture - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Holly Energy Partners Entity [Line Items)
Cash and cash equivalents	$ 866,274	$ 1,353,747
Properties, plants and equipment, at cost	10,686,564	10,533,432
Less: accumulated depreciation	(4,135,103)	(3,906,600)
Intangibles and other	962,994	972,272
Variable Interest Entity, Not Primary Beneficiary | Cushing Connect
Holly Energy Partners Entity [Line Items)
Cash and cash equivalents	1,486	1,536
Properties, plants and equipment, at cost	102,977	102,936
Less: accumulated depreciation	(9,794)	(8,022)
Intangibles and other	$ 30,856	$ 32,473

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregated Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Sales and other revenues	$ 7,845,831	$ 7,833,646	$ 14,872,976	$ 15,398,788
Refining
Disaggregation of Revenue [Line Items]
Sales and other revenues	5,970,098	5,901,713	11,343,123	11,566,927
Lubricants & Specialties
Disaggregation of Revenue [Line Items]
Sales and other revenues	726,049	686,104	1,401,594	1,419,818
Total refined product revenues
Disaggregation of Revenue [Line Items]
Sales and other revenues	6,218,658	5,933,064	11,944,826	11,561,159
Total refined product revenues | Mid-Continent
Disaggregation of Revenue [Line Items]
Sales and other revenues	2,409,853	2,276,837	4,625,694	4,283,993
Total refined product revenues | Southwest
Disaggregation of Revenue [Line Items]
Sales and other revenues	1,082,895	890,586	2,058,597	1,723,288
Total refined product revenues | Rocky Mountains
Disaggregation of Revenue [Line Items]
Sales and other revenues	2,155,871	2,207,770	4,144,362	4,405,597
Total refined product revenues | Northeast
Disaggregation of Revenue [Line Items]
Sales and other revenues	212,722	233,695	432,069	497,599
Total refined product revenues | Canada
Disaggregation of Revenue [Line Items]
Sales and other revenues	288,276	254,952	544,048	505,676
Total refined product revenues | Europe, Asia and Latin America
Disaggregation of Revenue [Line Items]
Sales and other revenues	69,041	69,224	140,056	145,006
Transportation fuels
Disaggregation of Revenue [Line Items]
Sales and other revenues	5,005,535	4,725,169	9,634,166	9,233,063
Specialty lubricant products
Disaggregation of Revenue [Line Items]
Sales and other revenues	644,163	635,375	1,258,384	1,315,237
Asphalt, fuel oil and other products
Disaggregation of Revenue [Line Items]
Sales and other revenues	568,960	572,520	1,052,276	1,012,859
Asphalt, fuel oil and other products | Refining
Disaggregation of Revenue [Line Items]
Sales and other revenues	488,100	522,200	910,100	909,000
Asphalt, fuel oil and other products | Lubricants & Specialties
Disaggregation of Revenue [Line Items]
Sales and other revenues	80,900	50,300	142,100	103,800
Excess crude oil revenues
Disaggregation of Revenue [Line Items]
Sales and other revenues	436,796	621,750	703,892	1,332,647
Renewable diesel revenues
Disaggregation of Revenue [Line Items]
Sales and other revenues	190,137	175,063	369,806	377,476
Transportation and logistics services
Disaggregation of Revenue [Line Items]
Sales and other revenues	27,094	29,833	50,193	56,249
Marketing revenues
Disaggregation of Revenue [Line Items]
Sales and other revenues	942,362	1,040,933	1,718,169	1,978,318
Other revenues
Disaggregation of Revenue [Line Items]
Sales and other revenues	$ 30,784	$ 33,003	$ 86,090	$ 92,939

Revenues - Schedule Contract Li

Revenues - Schedule Contract Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Change In Contract With Customer, Liability [Roll Forward]
Balance at beginning of period	$ 7,533	$ 10,722
Increase	10,936	9,547
Recognized as revenue	(11,666)	(10,986)
Balance at end of period	$ 6,803	$ 9,283

Revenues - Schedule of Performa

Revenues - Schedule of Performance Obligations (Details) bbl in Thousands, $ in Thousands	Jun. 30, 2024 USD ($) bbl
Third-Party Customer | Midstream
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 72,758
Refined product sales volumes (barrels)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	108,349
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Third-Party Customer | Midstream
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 10,426
Remaining performance obligation satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Refined product sales volumes (barrels)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	16,254
Remaining performance obligation satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Third-Party Customer | Midstream
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 11,242
Remaining performance obligation satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Refined product sales volumes (barrels)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	26,553
Remaining performance obligation satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Third-Party Customer | Midstream
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 7,782
Remaining performance obligation satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | Refined product sales volumes (barrels)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	18,852
Remaining performance obligation satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Third-Party Customer | Midstream
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation revenues | $	$ 43,308
Remaining performance obligation satisfaction period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | Refined product sales volumes (barrels)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, sale of refined product barrels | bbl	46,690
Remaining performance obligation satisfaction period

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Derivative assets	$ 3,835	$ 3,744
Liabilities:
Derivative liabilities	6,958	17,549
Level 1
Assets:
Total assets	0	836
Liabilities:
RINs credit obligations	0
Total liabilities	4,674	0
Level 1 | Commodity forward contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Level 1 | Foreign currency forward contracts
Assets:
Derivative assets	0
Liabilities:
Derivative liabilities	0	0
Level 1 | NYMEX futures contracts
Assets:
Derivative assets		836
Liabilities:
Derivative liabilities	4,674
Level 1 | Commodity price swaps
Liabilities:
Derivative liabilities	0	0
Level 2
Assets:
Total assets	3,835	2,908
Liabilities:
RINs credit obligations	22,745
Total liabilities	25,029	17,549
Level 2 | Commodity forward contracts
Assets:
Derivative assets	574	2,908
Liabilities:
Derivative liabilities	738	1,848
Level 2 | Foreign currency forward contracts
Assets:
Derivative assets	3,261
Liabilities:
Derivative liabilities	51	7,893
Level 2 | NYMEX futures contracts
Assets:
Derivative assets		0
Liabilities:
Derivative liabilities	0
Level 2 | Commodity price swaps
Liabilities:
Derivative liabilities	1,495	7,808
Level 3
Assets:
Total assets	0	0
Liabilities:
RINs credit obligations	0
Total liabilities	0	0
Level 3 | Commodity forward contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Level 3 | Foreign currency forward contracts
Assets:
Derivative assets	0
Liabilities:
Derivative liabilities	0	0
Level 3 | NYMEX futures contracts
Assets:
Derivative assets		0
Liabilities:
Derivative liabilities	0
Level 3 | Commodity price swaps
Liabilities:
Derivative liabilities	0	0
Carrying Amount
Assets:
Total assets	3,835	3,744
Liabilities:
RINs credit obligations	22,745
Total liabilities	29,703	17,549
Carrying Amount | Commodity forward contracts
Assets:
Derivative assets	574	2,908
Liabilities:
Derivative liabilities	738	1,848
Carrying Amount | Foreign currency forward contracts
Assets:
Derivative assets	3,261
Liabilities:
Derivative liabilities	51	7,893
Carrying Amount | NYMEX futures contracts
Assets:
Derivative assets		836
Liabilities:
Derivative liabilities	4,674
Carrying Amount | Commodity price swaps
Liabilities:
Derivative liabilities	$ 1,495	$ 7,808

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income attributable to HF Sinclair stockholders	$ 151,788	$ 507,661	$ 466,452	$ 860,927
Participating securities' share in earnings	841	4,411	2,754	7,304
Net income attributable to common shares	$ 150,947	$ 503,250	$ 463,698	$ 853,623
Average number of shares of common stock outstanding (in shares)	191,510	192,348	195,110	193,888
Average number of shares of common stock outstanding assuming dilution (in shares)	191,510	192,348	195,110	193,888
Basic earnings per share (in USD per share)	$ 0.79	$ 2.62	$ 2.38	$ 4.40
Diluted earnings per share (in USD per share)	$ 0.79	$ 2.62	$ 2.38	$ 4.40

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost attributable to share-based compensation plans	$ 5.8	$ 11.3	$ 11.6	$ 14.6
HEP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost attributable to share-based compensation plans		$ 0.4		$ 0.7
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, 2024 $ / 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]
Outstanding at beginning of period (in shares)	1,102,755
Granted (in shares)	3,268
Vested (in shares)	(156,949)
Forfeited (in shares)	(198,404)
Outstanding at end of period (in shares)	750,670
Weighted average grant date fair value per unit (in USD per share) | $ / shares	$ 57.19
Performance Share Units
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period (in shares)	485,531
Granted (in shares)	1,248
Vested (in shares)	(1,859)
Forfeited (in shares)	(59,740)
Outstanding at end of period (in shares)	425,180
Weighted average grant date fair value per unit (in USD per share) | $ / shares	$ 53.43

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Crude oil	$ 829,845	$ 858,411
Other raw materials and unfinished products	736,298	683,066
Finished products	1,426,590	1,435,817
Lower of cost or market reserve	(109,077)	(331,570)
Process chemicals	48,713	50,917
Repair and maintenance supplies and other	227,789	225,190
Total inventory	$ 3,160,158	$ 2,921,831

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Inventory [Line Items]
Inventory valuation reserves	$ 109,077		$ 109,077		$ 331,570
Refining
Inventory [Line Items]
Inventory valuation reserves					220,600
Increase (decrease) to cost of sales		$ 26,800	(220,600)	$ 26,800
Renewables
Inventory [Line Items]
Inventory valuation reserves	109,100		109,100		$ 111,000
Increase (decrease) to cost of sales	$ (3,100)	$ (34,700)	$ (1,900)	$ 12,900

Environmental (Details)

Environmental (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Loss Contingencies [Line Items]
Environmental remediation costs	$ 0.7	$ 2.2	$ 2.4	$ 15.4
Accrued environmental liability	188.4		188.4		$ 195.4
Other Noncurrent Liabilities
Loss Contingencies [Line Items]
Accrued environmental liability	$ 161.2		$ 161.2		$ 161.4

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Apr. 27, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
HEP Credit Agreement		$ 350,000,000		$ 350,000,000		$ 455,500,000
Fair value of financing arrangements		35,600,000		35,600,000		37,000,000
Capitalized interest		800,000	$ 1,200,000	1,500,000	$ 2,500,000
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
HEP Credit Agreement		350,000,000		350,000,000		455,500,000
Letters of credit amount outstanding		0		0
Maximum borrowing capacity with accordion feature		$ 1,700,000,000		$ 1,700,000,000
Line of Credit | HEP
Debt Instrument [Line Items]
Effective interest rate on debt		7.07%		7.07%
HF Sinclair Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity under revolving credit agreement		$ 1,650,000,000		$ 1,650,000,000
HEP Credit Agreement		0		0		$ 0
Letters of credit amount outstanding		300,000		$ 300,000
HF Sinclair Credit Agreement | Line of Credit | Fed Funds Effective Rate
Debt Instrument [Line Items]
Variable rate spread	0.50%
HF Sinclair Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Variable rate spread	1%
HF Sinclair Credit Agreement | Line of Credit | Base Rate | Minimum
Debt Instrument [Line Items]
Variable rate spread	0.25%
HF Sinclair Credit Agreement | Line of Credit | Base Rate | Minimum | HEP
Debt Instrument [Line Items]
Variable rate spread				0.75%
HF Sinclair Credit Agreement | Line of Credit | Base Rate | Maximum
Debt Instrument [Line Items]
Variable rate spread	1.125%
HF Sinclair Credit Agreement | Line of Credit | Base Rate | Maximum | HEP
Debt Instrument [Line Items]
Variable rate spread				1.75%
HF Sinclair Credit Agreement | Line of Credit | CDOR Rate | Minimum
Debt Instrument [Line Items]
Variable rate spread	1.25%
HF Sinclair Credit Agreement | Line of Credit | CDOR Rate | Maximum
Debt Instrument [Line Items]
Variable rate spread	2.125%
HF Sinclair Credit Agreement | Line of Credit | Adjusted Secured Overnight Financing Rate (SOFR) | Minimum
Debt Instrument [Line Items]
Variable rate spread	1.25%
HF Sinclair Credit Agreement | Line of Credit | Adjusted Secured Overnight Financing Rate (SOFR) | Minimum | HEP
Debt Instrument [Line Items]
Variable rate spread				1.75%
HF Sinclair Credit Agreement | Line of Credit | Adjusted Secured Overnight Financing Rate (SOFR) | Maximum
Debt Instrument [Line Items]
Variable rate spread	2.125%
HF Sinclair Credit Agreement | Line of Credit | Adjusted Secured Overnight Financing Rate (SOFR) | Maximum | HEP
Debt Instrument [Line Items]
Variable rate spread				2.75%
Letter of Credit | HEP
Debt Instrument [Line Items]
Line of credit, maximum capacity available		$ 50,000,000		$ 50,000,000

Debt - Carrying Amounts Of Long

Debt - Carrying Amounts Of Long-Term Debt (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Carrying amounts of long-term debt	$ 2,300,000,000	$ 2,300,000,000
Total Credit Agreements	350,000,000	455,500,000
Unamortized discount and debt issuance costs	(14,281,000)	(16,417,000)
Total long-term debt, net	2,635,719,000	2,739,083,000
Level 2
Debt Instrument [Line Items]
HollyFrontier Corporation, HF Sinclair and HEP Senior Notes	2,261,980,000	2,271,856,000
HEP
Debt Instrument [Line Items]
Carrying amounts of long-term debt	1,246,000	1,246,000
Total Credit Agreements	350,000,000	455,500,000
HollyFrontier Corporation Senior Notes:
Debt Instrument [Line Items]
Carrying amounts of long-term debt	277,866,000	277,866,000
5.875% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	202,900,000	202,900,000
4.500% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	74,966,000	74,966,000
HF Sinclair Senior Notes:
Debt Instrument [Line Items]
Carrying amounts of long-term debt	2,020,888,000	2,020,888,000
5.875% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	797,100,000	797,100,000
4.500% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	325,034,000	325,034,000
5.000% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	498,879,000	498,879,000
6.375% Senior Notes
Debt Instrument [Line Items]
Carrying amounts of long-term debt	399,875,000	399,875,000
HEP 5.000% Senior Notes | HEP
Debt Instrument [Line Items]
Carrying amounts of long-term debt	1,121,000	1,121,000
HEP 6.375% Senior Notes | HEP
Debt Instrument [Line Items]
Carrying amounts of long-term debt	125,000	125,000
HF Sinclair Credit Agreement
Debt Instrument [Line Items]
Total Credit Agreements	$ 0	$ 0
Senior Notes | 5.875% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.875%
Senior Notes | 4.500% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.50%
Senior Notes | 5.875% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5.875%
Senior Notes | 4.500% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.50%
Senior Notes | 5.000% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	5%
Senior Notes | 6.375% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	6.375%
Senior Notes | HEP 5.000% Senior Notes | HEP
Debt Instrument [Line Items]
Stated interest rate	5%
Senior Notes | HEP 6.375% Senior Notes | HEP
Debt Instrument [Line Items]
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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Trading Activity, Gains and Losses, Net [Line Items]
Net Unrealized Loss Recognized in OCI	$ (456)	$ (271)	$ (456)	$ 0
Gain (Loss) Reclassified into Earnings	(305)	271	(4,592)	270
Commodity contracts
Trading Activity, Gains and Losses, Net [Line Items]
Net Unrealized Loss Recognized in OCI	(456)	(271)	(456)	0
Gain (Loss) Reclassified into Earnings	$ (305)	$ 271	$ (4,592)	$ 270

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	$ (580)	$ 10,600	$ (8,564)	$ 5,810
Commodity contracts | Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	1,538	13,154	(19,127)	19,902
Commodity contracts | Operating expenses
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	(1,665)	3,648	(1,878)	(10,410)
Commodity contracts | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	(3,993)	2,514	(1,230)	4,920
Foreign currency contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives Not Designated as Hedging Instruments	$ 3,540	$ (8,716)	$ 13,671	$ (8,602)

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Notional Contracts by Derivative Type (Details) bbl in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) MMBTU ozt bbl
Derivatives Designated as Hedging Instruments | Forward Contracts
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels)	125
Derivatives Designated as Hedging Instruments | Forward Contracts | 2024
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels)	125
Derivatives Designated as Hedging Instruments | Forward Contracts | 2025
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels)	0
Derivatives Not Designated as Hedging Instruments | Forward Contracts
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels)	150
Derivatives Not Designated as Hedging Instruments | Forward Contracts | 2024
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels)	150
Derivatives Not Designated as Hedging Instruments | Forward Contracts | 2025
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels)	0
Derivatives Not Designated as Hedging Instruments | NYMEX futures (WTI) - short
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels)	1,790
Derivatives Not Designated as Hedging Instruments | NYMEX futures (WTI) - short | 2024
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels)	1,790
Derivatives Not Designated as Hedging Instruments | NYMEX futures (WTI) - short | 2025
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in barrels)	0
Derivatives Not Designated as Hedging Instruments | Foreign currency forward contracts
Economic hedges by derivative type [Line Items]
Derivative notional amount | $	$ 385,904,193
Derivatives Not Designated as Hedging Instruments | Foreign currency forward contracts | 2024
Economic hedges by derivative type [Line Items]
Derivative notional amount | $	177,833,367
Derivatives Not Designated as Hedging Instruments | Foreign currency forward contracts | 2025
Economic hedges by derivative type [Line Items]
Derivative notional amount | $	$ 208,070,826
Derivatives Not Designated as Hedging Instruments | Forward commodity contracts (platinum)
Economic hedges by derivative type [Line Items]
Derivative notional amount (in troy ounce) | ozt	34,628
Derivatives Not Designated as Hedging Instruments | Forward commodity contracts (platinum) | 2024
Economic hedges by derivative type [Line Items]
Derivative notional amount (in troy ounce) | ozt	2,047
Derivatives Not Designated as Hedging Instruments | Forward commodity contracts (platinum) | 2025
Economic hedges by derivative type [Line Items]
Derivative notional amount (in troy ounce) | ozt	32,581
Derivatives Not Designated as Hedging Instruments | Natural gas price swaps (basis spread) - long
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in MMBTUs) | MMBTU	2,208,000
Derivatives Not Designated as Hedging Instruments | Natural gas price swaps (basis spread) - long | 2024
Economic hedges by derivative type [Line Items]
Derivative nonmonetary notional amount (in MMBTUs) | MMBTU	2,208,000
Derivatives Not Designated as Hedging Instruments | Natural gas price swaps (basis spread) - long | 2025
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, 2024	Dec. 31, 2023
Derivative [Line Items]
Net Assets Recognized in Balance Sheet	$ 3,835	$ 3,744
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepayments and other	Prepayments and other
Net Liabilities Recognized in Balance Sheet	$ 6,958	$ 17,549
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Gross Assets	$ 0
Gross Liabilities Offset in Balance Sheet	0
Net Assets Recognized in Balance Sheet	0
Gross Liabilities	210
Gross Assets Offset in Balance Sheet	0
Net Liabilities Recognized in Balance Sheet	210
Derivatives Designated as Hedging Instruments | Commodity forward contracts
Derivative [Line Items]
Gross Assets	0
Gross Liabilities Offset in Balance Sheet	0
Net Assets Recognized in Balance Sheet	0
Gross Liabilities	210
Gross Assets Offset in Balance Sheet	0
Net Liabilities Recognized in Balance Sheet	210
Derivatives Not Designated as Hedging Instruments
Derivative [Line Items]
Gross Assets	4,743	$ 3,744
Gross Liabilities Offset in Balance Sheet	(908)	0
Net Assets Recognized in Balance Sheet	3,835	3,744
Gross Liabilities	6,748	17,549
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	6,748	17,549
Derivatives Not Designated as Hedging Instruments | Commodity forward contracts
Derivative [Line Items]
Gross Assets	574	2,908
Gross Liabilities Offset in Balance Sheet	0	0
Net Assets Recognized in Balance Sheet	574	2,908
Gross Liabilities	528	1,848
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	528	1,848
Derivatives Not Designated as Hedging Instruments | NYMEX futures contracts
Derivative [Line Items]
Gross Assets	0	836
Gross Liabilities Offset in Balance Sheet	0	0
Net Assets Recognized in Balance Sheet	0	836
Gross Liabilities	4,674	0
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	4,674	0
Derivatives Not Designated as Hedging Instruments | Commodity price swap 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	1,495	7,808
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	1,495	7,808
Derivatives Not Designated as Hedging Instruments | Foreign currency forward contracts
Derivative [Line Items]
Gross Assets	4,169	0
Gross Liabilities Offset in Balance Sheet	(908)	0
Net Assets Recognized in Balance Sheet	3,261	0
Gross Liabilities	51	7,893
Gross Assets Offset in Balance Sheet	0	0
Net Liabilities Recognized in Balance Sheet	$ 51	$ 7,893

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		6 Months Ended		9 Months Ended
	Aug. 01, 2024	May 14, 2024	Apr. 01, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 07, 2024
Class of Stock [Line Items]
Shares purchased under share repurchase program (in shares)				6,348,435	0	9,279,177	4,793,857
Cash paid for shares repurchased				$ 374,935	$ 137	$ 545,905	$ 243,329
Common stock withheld under stock-based compensation agreements (in shares)						59,626	18,349
Dividends declared per common share (in USD per share)				$ 0.50	$ 0.45	$ 1	$ 0.90
Subsequent Event
Class of Stock [Line Items]
Dividends declared per common share (in USD per share)	$ 0.50
REH Company
Class of Stock [Line Items]
Shares purchased under share repurchase program (in shares)						7,864,761	1,969,279
August 2023 Share Repurchase Program
Class of Stock [Line Items]
Cash paid for shares repurchased								$ 785,800
Remaining authorized share repurchase amount								214,200
August 2023 Share Repurchase Program | REH Company
Class of Stock [Line Items]
Shares purchased under share repurchase program (in shares)			5,000,000
Price per share of stock repurchased (in USD per share)			$ 59.22
Cash paid for shares repurchased			$ 296,100
May 2024 Share Repurchase Program
Class of Stock [Line Items]
Authorized share repurchase amount								$ 1,000,000
Remaining authorized share repurchase amount				$ 925,000		$ 925,000
May 2024 Share Repurchase Program | REH Company
Class of Stock [Line Items]
Shares purchased under share repurchase program (in shares)		1,348,435
Price per share of stock repurchased (in USD per share)		$ 55.62
Cash paid for shares repurchased		$ 75,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Share Repurchases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Number of shares repurchased (in shares)	6,348,435	0	9,279,177	4,793,857
Cash paid for shares repurchased	$ 371,100	$ 0	$ 537,228	$ 240,323
REH Company
Class of Stock [Line Items]
Number of shares repurchased (in shares)			7,864,761	1,969,279
Cash paid for shares repurchased			$ 456,100	$ 100,000

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Components And Allocated Tax Effects Of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before-Tax	$ (6,413)	$ 8,621	$ (19,718)	$ 10,858
Tax Expense (Benefit)	(1,377)	1,777	(4,189)	2,224
Other comprehensive income (loss)	(5,036)	6,844	(15,529)	8,634
Net change in foreign currency translation adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before-Tax	(5,241)	9,852	(17,847)	12,778
Tax Expense (Benefit)	(1,101)	2,076	(3,744)	2,690
Other comprehensive income (loss)	(4,140)	7,776	(14,103)	10,088
Net unrealized loss on hedging instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before-Tax	(456)	(271)	(456)
Tax Expense (Benefit)	(110)	(66)	(110)
Other comprehensive income (loss)	(346)	(205)	(346)
Net change in pension and other post-retirement benefit obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Before-Tax	(716)	(960)	(1,415)	(1,920)
Tax Expense (Benefit)	(166)	(233)	(335)	(466)
Other comprehensive income (loss)	$ (550)	$ (727)	$ (1,080)	$ (1,454)

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) - Other Comprehensive Income Amounts Reclassified to Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain (loss) on sale of assets and other	$ (264)	$ 1,152	$ 1,755	$ 2,783
Income tax expense (benefit)	23,982	145,925	109,456	245,625
Net of tax	153,480	534,485	470,102	919,490
Reclassification out of Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net of tax	319	932	(2,399)	1,659
Reclassification out of Accumulated Other Comprehensive Income (Loss) | Hedging instruments:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense (benefit)	(74)	66	(1,113)	65
Net of tax	(231)	205	(3,479)	205
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	(305)	271	(4,592)	270
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 (loss) on sale of assets and other	(215)	45	(432)	90
Income tax expense (benefit)	(61)	11	(114)	22
Net of tax	(154)	34	(318)	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 (loss) on sale of assets and other	935	918	1,857	1,836
Income tax expense (benefit)	228	223	451	445
Net of tax	707	695	1,406	1,391
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 (loss) on sale of assets and other	(4)	(3)	(10)	(6)
Income tax expense (benefit)	(1)	(1)	(2)	(1)
Net of tax	$ (3)	$ (2)	$ (8)	$ (5)

Other Comprehensive Income (L_5

Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) In Equity (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	$ 9,957,114	$ 10,276,089	$ 10,237,298	$ 10,490,704	$ 10,050,527	$ 10,017,572
Accumulated other comprehensive loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	(27,313)	$ (22,277)	(11,784)	$ (13,379)	$ (20,223)	$ (22,013)
Foreign currency translation adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	(37,129)		(23,026)
Unrealized gain on defined benefit plans | Unrealized gain on pension obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	1,051		619
Unrealized gain on defined benefit plans | Unrealized gain on post-retirement benefit obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	9,111		10,623
Unrealized loss on hedging instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Stockholders' equity	$ (346)		$ 0

Contingencies (Details)

Contingencies (Details)	Jun. 24, 2022 lawsuit
Growth Energy
Commitments And Contingencies [Line Items]
Number of lawsuit	2

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 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	25.12%
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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Sales and other revenues	$ 7,845,831	$ 7,833,646	$ 14,872,976	$ 15,398,788
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	6,750,525	6,273,605	12,677,025	12,377,662
Lower of cost or market inventory valuation adjustment	(3,123)	(7,863)	(222,493)	39,734
Operating expenses	591,317	546,800	1,198,429	1,186,183
Total cost of products sold (exclusive of depreciation and amortization)	7,338,719	6,812,542	13,652,961	13,603,579
Selling, general and administrative expenses	104,858	127,388	208,232	223,301
Depreciation and amortization	205,320	189,360	404,049	363,343
Income from operations	196,934	704,356	607,734	1,208,565
Earnings of equity method investments	8,115	3,545	15,461	7,427
Capital expenditures	84,209	80,181	173,317	180,250
Corporate, Other and Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	(1,212,198)	(1,346,860)	(2,237,666)	(2,611,176)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	(1,212,198)	(1,346,860)	(2,237,666)	(2,611,176)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Sales and other revenues	0	0	0	0
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	(1,211,561)	(1,346,661)	(2,235,232)	(2,609,382)
Lower of cost or market inventory valuation adjustment	0	0	0	0
Operating expenses	1,981	1,216	1,028	2,197
Total cost of products sold (exclusive of depreciation and amortization)	(1,209,580)	(1,345,445)	(2,234,204)	(2,607,185)
Selling, general and administrative expenses	4,255	14,461	11,257	19,519
Depreciation and amortization	19,286	9,636	31,439	18,561
Income from operations	(26,159)	(25,512)	(46,158)	(42,071)
Earnings of equity method investments	957	0	915	0
Capital expenditures	13,967	10,873	24,454	16,806
Refining
Segment Reporting Information [Line Items]
Sales and other revenues	5,970,098	5,901,713	11,343,123	11,566,927
Refining | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	6,977,809	7,039,382	13,182,054	13,757,997
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	6,291,029	5,842,573	11,765,551	11,483,704
Lower of cost or market inventory valuation adjustment	0	26,842	(220,558)	26,842
Operating expenses	449,097	411,324	921,183	913,083
Total cost of products sold (exclusive of depreciation and amortization)	6,740,126	6,280,739	12,466,176	12,423,629
Selling, general and administrative expenses	50,740	53,038	99,457	92,116
Depreciation and amortization	122,215	112,542	239,585	212,625
Income from operations	64,728	593,063	376,836	1,029,627
Earnings of equity method investments	0	0	0	0
Capital expenditures	35,694	45,187	90,718	112,961
Refining | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	(1,007,711)	(1,137,669)	(1,838,931)	(2,191,070)
Renewables
Segment Reporting Information [Line Items]
Sales and other revenues	180,228	175,063	359,897	377,476
Renewables | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	248,278	273,185	487,837	571,201
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	220,056	258,806	450,329	521,544
Lower of cost or market inventory valuation adjustment	(3,123)	(34,705)	(1,935)	12,892
Operating expenses	24,705	24,373	51,166	55,744
Total cost of products sold (exclusive of depreciation and amortization)	241,638	248,474	499,560	590,180
Selling, general and administrative expenses	1,384	1,336	2,786	2,251
Depreciation and amortization	19,786	18,968	40,058	38,942
Income from operations	(14,530)	4,407	(54,567)	(60,172)
Earnings of equity method investments	0	0	0	0
Capital expenditures	3,271	3,537	5,921	8,381
Renewables | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	(68,050)	(98,122)	(127,940)	(193,725)
Marketing
Segment Reporting Information [Line Items]
Sales and other revenues	942,362	1,040,933	1,718,169	1,978,318
Marketing | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	942,362	1,040,933	1,718,169	1,978,318
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	919,611	1,008,306	1,672,141	1,932,355
Lower of cost or market inventory valuation adjustment	0	0	0	0
Operating expenses	0	0	0	0
Total cost of products sold (exclusive of depreciation and amortization)	919,611	1,008,306	1,672,141	1,932,355
Selling, general and administrative expenses	7,345	8,127	15,101	15,090
Depreciation and amortization	6,374	6,016	12,677	11,887
Income from operations	9,032	18,484	18,250	18,986
Earnings of equity method investments	0	0	0	0
Capital expenditures	12,960	6,200	20,491	11,455
Marketing | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	0	0	0	0
Lubricants & Specialties
Segment Reporting Information [Line Items]
Sales and other revenues	726,049	686,104	1,401,594	1,419,818
Lubricants & Specialties | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	731,399	690,633	1,409,386	1,430,143
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	531,390	510,581	1,024,236	1,049,441
Lower of cost or market inventory valuation adjustment	0	0	0	0
Operating expenses	64,445	64,034	128,445	127,627
Total cost of products sold (exclusive of depreciation and amortization)	595,835	574,615	1,152,681	1,177,068
Selling, general and administrative expenses	38,209	44,914	72,777	84,178
Depreciation and amortization	22,716	20,379	45,227	39,747
Income from operations	74,639	50,725	138,701	129,150
Earnings of equity method investments	0	0	0	0
Capital expenditures	7,173	5,734	12,484	14,383
Lubricants & Specialties | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	(5,350)	(4,529)	(7,792)	(10,325)
Midstream
Segment Reporting Information [Line Items]
Sales and other revenues	27,094	29,833	50,193	56,249
Midstream | Operating Segments
Segment Reporting Information [Line Items]
Sales and other revenues	158,181	136,373	313,196	272,305
Cost of sales (exclusive of depreciation and amortization):
Cost of materials and other (exclusive of lower of cost or market inventory valuation adjustment)	0	0	0	0
Lower of cost or market inventory valuation adjustment	0	0	0	0
Operating expenses	51,089	45,853	96,607	87,532
Total cost of products sold (exclusive of depreciation and amortization)	51,089	45,853	96,607	87,532
Selling, general and administrative expenses	2,925	5,512	6,854	10,147
Depreciation and amortization	14,943	21,819	35,063	41,581
Income from operations	89,224	63,189	174,672	133,045
Earnings of equity method investments	7,158	3,545	14,546	7,427
Capital expenditures	11,144	8,650	19,249	16,264
Midstream | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other revenues	$ (131,087)	$ (106,540)	$ (263,003)	$ (216,056)