PBF Energy 2012 Annual Report Download - page 154
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PAULSBORO REFINING BUSINESS
NOTES TO FINANCIAL STATEMENTS—(Continued)
As of December 16, 2010, various projects with a total cost of approximately $56 million had been temporarily
suspended. These costs were written off and included in the asset impairment charge discussed in Note 3.
6 - ACCRUED EXPENSES AND OTHER LONG-TERM LIABILITIES
Accrued expenses and other long-term liabilities as of December 16, 2010 consisted of the following (in
thousands):
Accrued
Expenses
Other
Long-Term
Liabilities
2010 2010
Asset retirement obligations .................................................. $3,500 $ 7,867
Environmental liabilities ..................................................... 1,405 11,459
Legal and regulatory liabilities ................................................ 625 1,983
Uncertain income tax position liabilities ........................................ — 1,981
Employee wage and benefit costs .............................................. 501 —
Other .................................................................... 15 —
Total ................................................................ $6,046 $23,290
Environmental Liabilities
In connection with the acquisition of the Paulsboro Refinery in 1998, Valero assumed certain environmental
liabilities including, but not limited to, certain remediation obligations related primarily to clean-up costs
associated with groundwater contamination, landfill closure and post-closure monitoring costs, and tank farm
spill prevention costs.
The table below reflects the changes in the environmental liabilities of the Business (in thousands):
Period from
January 1
through
December 16,
2010
Balance as of beginning of period .................................................... $15,008
Additions to liability ........................................................... 700
Payments, net of third-party recoveries ............................................ (2,844)
Balance as of end of period ......................................................... $12,864
F-62