PBF Energy 2012 Annual Report Download - page 52

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The following data are in thousands of dollars, except for per share amounts:
Year Ended December 31,
Period From
March 1,
2008 (Date of
Inception)
through
December 31,
2008 (3)2012 2011 2010 2009 (3)
Statement of operations data:
Revenues (1) ................................... $20,138,687 $14,960,338 $ 210,671 $ 228 $ 134
Costs and expenses:
Cost of sales, excluding depreciation ............ 18,269,079 13,855,163 203,971 — —
Operating expenses, excluding depreciation ....... 738,824 658,831 25,140 — —
General and administrative expenses ............ 120,443 86,183 15,859 6,294 6,378
Gain on sale of asset ......................... (2,329) — — — —
Acquisition-related expenses (2) ................ — 728 6,051 — —
Depreciation and amortization expense .......... 92,238 53,743 1,402 44 18
19,218,254 14,654,648 252,423 6,338 6,396
Income (loss) from operations .................... 920,433 305,690 (41,752) (6,110) (6,262)
Other (expense) income:
Change in fair value of catalyst lease obligation . . . (2,768) 7,316 (1,217) — —
Change in fair value of contingent consideration . . . (3,724) (5,215) — — —
Interest income (expense), net .................. (108,629) (65,120) (1,388) 10 198
Income before income taxes ...................... 805,312 242,671 (44,357) (6,100) (6,064)
Income tax expense ............................. (1,275) — — — —
Net income (loss) ............................... 804,037 $ 242,671 $ (44,357) $ (6,100) $ (6,064)
Less: net income attributable to noncontrolling
interest .................................. 802,081
Net income attributable to PBF Energy Inc. ........ $ 1,956
Weighted-average shares of Class A common stock
outstanding:
Basic ..................................... 23,570,240
Diluted .................................... 97,230,904
Net income available to Class A common stock per
share:
Basic ..................................... $ .08
Diluted .................................... $ .08
Balance sheet data (at end of period) :
Total assets ................................ $ 4,253,702 $ 3,621,109 $1,274,393 $19,150 $25,040
Total long-term debt (4) ...................... 729,980 804,865 325,064 — —
Total equity ................................ 1,723,545 1,110,918 458,661 18,694 24,810
Other financial data :
Capital expenditures (5) ...................... $ 222,688 $ 574,883 $ 72,118 $ 70 $ 118
(1) Consulting services income provided to a related party was $10, $221, and $98 for the years ended December 31, 2010
and 2009, and for the period from March 1, 2008 (date of inception) to December 31, 2008, respectively. No consulting
services income was earned subsequent to 2010.
(2) Acquisition related expenses consist of consulting and legal expenses related to the Paulsboro and Toledo acquisition as
well as non-consummated acquisitions.
(3) December 31, 2009 and 2008 balance sheet data is that of PBF Investments LLC. See footnote 1, “Organization and
Basis of Presentation” in the PBF Energy Inc. consolidated financial statements, “Item 8. Financial Statements and
Supplementary Data.”
(4) Total long-term debt includes current maturities and our Delaware Economic Development Authority Loan.
(5) Includes expenditures for construction in progress, property, plant and equipment, deferred turnaround costs and other
assets.
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