PBF Energy 2012 Annual Report Download - page 95

PBF ENERGY INC. AND SUBSIDIARIES
(COMBINED AND CONSOLIDATED WITH PBF ENERGY COMPANY LLC AND SUBSIDIARIES)
CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS, EXCEPT SHARE DATA)
December 31,
2012 2011
ASSETS
Current assets:
Cash and cash equivalents ................................................ $ 285,884 $ 50,166
Accounts receivable ..................................................... 503,796 316,252
Inventories ............................................................ 1,497,119 1,516,727
Deferred tax asset ....................................................... 7,717 —
Prepaid expenses and other current assets .................................... 13,388 63,359
Total current assets .................................................. 2,307,904 1,946,504
Property, plant and equipment, net .............................................. 1,635,587 1,513,947
Deferred tax assets .......................................................... 112,862 —
Deferred charges and other assets, net ........................................... 197,349 160,658
Total assets ........................................................ $4,253,702 $3,621,109
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable ....................................................... $ 360,057 $ 286,067
Accrued expenses ....................................................... 1,032,474 1,180,812
Current portion of long-term debt .......................................... — 4,014
Deferred revenue ....................................................... 210,543 189,234
Total current liabilities ............................................... 1,603,074 1,660,127
Delaware Economic Development Authority loan .................................. 20,000 20,000
Long-term debt ............................................................. 709,980 780,851
Payable to related parties pursuant to tax receivable agreement ....................... 159,004 —
Other long-term liabilities .................................................... 38,099 49,213
Total liabilities ..................................................... 2,530,157 2,510,191
Commitments and contingencies
Equity:
Class A common stock, $0.001 par value, 1,000,000,000 shares authorized,
23,571,221 shares issued and outstanding at December 31, 2012, no shares
authorized or outstanding at December 31, 2011 ............................. 24 —
Class B common stock, no par value, 1,000,000 shares authorized, 41 shares issued
and outstanding at December 31, 2012, no shares authorized or outstanding at
December 31, 2011 .................................................... — —
Preferred stock, no par value, 100,000,000 shares authorized, no shares outstanding at
December 31, 2012, no shares authorized or outstanding at December 31, 2011 .... — —
Additional paid in capital ................................................. 417,835 —
Retained earnings ....................................................... 1,956 —
Former controlling interest equity .......................................... — 1,113,294
Accumulated other comprehensive loss ...................................... (61) (2,376)
Total PBF Energy Inc. equity .......................................... 419,754 1,110,918
Noncontrolling interest ................................................... 1,303,791 —
Total equity ........................................................ 1,723,545 1,110,918
Total liabilities and equity ............................................ $4,253,702 $3,621,109
See notes to consolidated financial statements.
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