HollyFrontier 2015 Annual Report Download - page 43

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Table of Content
35
Item 6. Selected Financial Data
The following table shows our selected financial information as of the dates or for the periods indicated. This table should be read
in conjunction with Item 7, “Management's Discussion and Analysis of Financial Condition and Results of Operations” and our
consolidated financial statements and related notes thereto included elsewhere in this Annual Report on Form 10-K.
Years Ended December 31,
2015 2014 2013 2012 2011
(In thousands, except per share data)
FINANCIAL DATA (1)
For the period
Sales and other revenues $ 13,237,920 $ 19,764,327 $ 20,160,560 $ 20,090,724 $ 15,439,528
Income before income taxes (2) 1,208,568 467,500 1,159,399 2,787,995 1,641,695
Income tax provision 406,060 141,172 391,576 1,027,962 581,991
Net income 802,508 326,328 767,823 1,760,033 1,059,704
Less net income attributable to noncontrolling interest 62,407 45,036 31,981 32,861 36,307
Net income attributable to HollyFrontier stockholders $ 740,101 $ 281,292 $ 735,842 $ 1,727,172 $ 1,023,397
Earnings per share attributable to HollyFrontier
stockholders - basic $ 3.91 $ 1.42 $ 3.66 $ 8.41 $ 6.46
Earnings per share attributable to HollyFrontier
stockholders - diluted $ 3.90 $ 1.42 $ 3.64 $ 8.38 $ 6.42
Cash dividends declared per common share $ 1.31 $ 3.26 $ 3.20 $ 3.10 $ 1.34
Average number of common shares outstanding:
Basic 188,731 197,243 200,419 204,379 157,948
Diluted 188,940 197,428 201,234 205,274 158,756
Net cash provided by operating activities $ 979,626 $ 758,596 $ 869,174 $ 1,662,687 $ 1,338,391
Net cash provided by (used for) investing activities $ (381,748) $ (292,322) $ (526,735) $ (711,104) $ 228,494
Net cash used for financing activities $ (1,099,330) $ (838,392) $ (1,160,035) $ (772,788) $ (217,082)
At end of period
Cash, cash equivalents and investments in marketable
securities $ 210,552 $ 1,042,095 $ 1,665,263 $ 2,393,401 $ 1,840,610
Working capital (3) $ 587,450 $ 1,549,004 $ 2,445,953 $ 2,961,037 $ 2,205,746
Total assets (4) $ 8,388,299 $ 9,230,047 $ 10,055,763 $ 10,326,628 $ 9,573,896
Total debt (4,5) $ 1,040,040 $ 1,054,297 $ 996,543 $ 1,333,869 $ 1,212,395
Total equity $ 5,809,773 $ 6,100,719 $ 6,609,398 $ 6,642,658 $ 5,835,900
(1) We merged with Frontier on July 1, 2011. Our consolidated financial and operating results reflect the operations of the merged Frontier
businesses beginning July 1, 2011. See “Company Overview” under Items 1 and 2, “Business and Properties” for information on our
merger.
(2) Reflects non-cash lower of cost or market inventory valuation adjustment charges of $227.0 million and $397.5 million for the years
ended December 31, 2015 and 2014, respectively.
(3) Prior period working capital has been recast to reflect the early adoption of a November 2015 accounting standard update requiring
current deferred tax liabilities and assets to be classified as noncurrent amounts. See Note 1 "Description of Business and Summary
of Significant Accounting Policies" in the Notes to Consolidated Financial Statements.
(4) Prior period total assets and debt have been recast to reflect the early adoption of an April 2015 accounting standard update requiring
debt issuance costs to be presented as a direct deduction from the carrying amount of the debt liability. See Note 1 "Description of
Business and Summary of Significant Accounting Policies" in the Notes to Consolidated Financial Statements.
(5) Includes total HEP debt of $1,008.8 million, $867.0 million, $806.7 million, $863.5 million and $525.0 million, respectively, which
is non-recourse to HollyFrontier.