PBF Energy 2012 Annual Report Download - page 98
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PBF ENERGY INC. AND SUBSIDIARIES
(COMBINED AND CONSOLIDATED WITH PBF ENERGY COMPANY LLC AND SUBSIDIARIES)
CONSOLIDATED STATEMENTS OF EQUITY
(IN THOUSANDS, EXCEPT SHARE DATA)
PBF Energy Inc. Stockholders’ Equity
Class A
Common Stock
Class B
Common Stock Additional
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income
(Loss)
Former
Controlling
Interest
Equity
Noncontrolling
Interest
Total
EquityShares Amount Shares Amount
Balance, December 31, 2009 ........ — $— — $— $ — $ — $ (18) $ (1,953) $ 20,665 $ 18,694
Comprehensive loss ........... — — — — — — (1,031) (44,357) — (45,388)
Equity reorganization .......... — — — — — — — 20,665 (20,665) —
Member capital contributions .... — — — — — — — 483,055 — 483,055
Stock based compensation ...... — — — — — — — 2,300 — 2,300
Balance, December 31, 2010 ........ — — — — — — (1,049) 459,710 — 458,661
Comprehensive income ......... — — — — — — (1,327) 242,671 241,344
Member capital contributions .... — — — — — — — 408,397 — 408,397
Stock based compensation ...... — — — — — — — 2,516 — 2,516
Balance, December 31, 2011 ........ — — — — — — (2,376) 1,113,294 — 1,110,918
Comprehensive income ......... — — — — — 1,956 (6,565) 792,076 10,005 797,472
Exercise of PBF Energy Company
LLC warrants and options ..... — — — — — — — 13,107 — 13,107
Distributions to former controlling
interest holders ............. — — — — — — — (160,965) — (160,965)
Stock based compensation ...... — — — — 88 — — 2,866 — 2,954
Issuance of Class B common
stock ..................... — — 39 — — — — — — —
Sale of Class A common stock in
initial public offering, net of
$42,109 in issuance costs and
underwriters’ discount ........ 23,567,686 24 — — 570,627 — — — — 570,651
Purchase PBF Energy Company
LLC units from former
controlling interest holders .... — — — — (570,650) — — (510) — (571,160)
Record deferred tax assets and
liabilities and tax receivable
agreement obligation ......... — — — — (39,432) — — — — (39,432)
Record initial allocation of non-
controlling interest upon
completion of initial public
offering ................... — — — — 457,202 — 8,689 (1,759,868) 1,293,977 —
Exchange of PBF Energy
Company LLC Series A Units
for Class A common stock .... 3,535 — 2 — — — — — — —
Noncontrolling Interest ......... — — — — — — 191 — (191) —
Balance, December 31, 2012 ........ 23,571,221 $ 24 41 $— $ 417,835 $1,956 $ (61) $ — $1,303,791 $1,723,545
See notes to consolidated financial statements.
F-6