PBF Energy 2012 Annual Report Download - page 64
Download and view the complete annual report
Please find page 64 of the 2012 PBF Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
 |
 |
Results of Operations
The tables below summarize certain information relating to our operating results derived from our audited
consolidated financial data for years ended December 31, 2012, 2011 and 2010 (amounts in thousands, except
per share data). This data should be read in conjunction with our audited consolidated financial statements and
the notes thereto.
Year Ended December 31,
2012 2011 2010
Revenue ................................. $20,138,687 $14,960,338 $210,671
Cost of sales, excluding depreciation ........... 18,269,078 13,855,163 203,971
Non-GAAP gross margin (1) ................. 1,869,609 1,105,175 6,700
Operating expenses, excluding
depreciation ........................ 738,824 658,831 25,140
General and administrative expenses ....... 120,443 86,183 15,859
Gain on sale of asset .................... (2,329) — —
Acquisition-related expenses ............. — 728 6,051
Depreciation and amortization expense ..... 92,238 53,743 1,402
949,176 799,485 48,452
Income (loss) from operations ............ 920,433 305,690 (41,752)
Change in fair value of contingent
consideration ....................... (2,768) (5,215) —
Change in fair value of catalyst leases ...... (3,724) 7,316 (1,217)
Interest income (expense), net ............ (108,629) (65,120) (1,388)
Income before income taxes .................. 805,312 242,671 (44,357)
Income tax expense ........................ (1,275) — —
Net income (loss) .......................... 804,037 $ 242,671 $ (44,357)
Less: net income attributable to
noncontrolling interest ................ 802,081
Net income attributable to PBF Energy Inc. ..... $ 1,956
Gross margin ............................. $ 1,046,598 $ 417,962 $ (4,895)
Net income available to Class A common stock
per share:
Basic ................................ $ .08
Diluted .............................. $ .08
(1) See Non-GAAP Financial Measures below.
56