PBF Energy 2013 Annual Report Download - page 102

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See notes to consolidated financial statements.
F- 6
PBF ENERGY INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(COMBINED AND CONSOLIDATED WITH PBF ENERGY COMPANY LLC AND SUBSIDIARIES)
(in thousands, except share and per share data)
Year Ended December 31,
2013 2012 2011
Revenues $ 19,151,455 $ 20,138,687 $ 14,960,338
Cost and expenses:
Cost of sales, excluding depreciation 17,803,314 18,269,078 13,855,163
Operating expenses, excluding depreciation 812,652 738,824 658,831
General and administrative expenses 104,334 120,443 86,183
Gain on sale of assets (183)(2,329)—
Acquisition related expenses — — 728
Depreciation and amortization expense 111,479 92,238 53,743
18,831,596 19,218,254 14,654,648
Income from operations 319,859 920,433 305,690
Other income (expense)
Change in fair value of contingent
consideration — (2,768)(5,215)
Change in fair value of catalyst lease 4,691 (3,724) 7,316
Interest expense, net (93,784)(108,629)(65,120)
Income before income taxes 230,766 805,312 242,671
Income tax expense 16,681 1,275 —
Net income 214,085 804,037 $ 242,671
Less: net income attributable to
noncontrolling interest 174,545 802,081
Net income attributable to PBF Energy Inc. $ 39,540 $ 1,956
Weighted-average shares of Class A
common stock outstanding
Basic 32,488,369 23,570,240
Diluted 33,061,081 97,230,904
Net income available to Class A common
stock per share:
Basic $ 1.22 $ 0.08
Diluted $ 1.20 $ 0.08
Dividends per common share $ 1.20 $ —