PBF Energy 2013 Annual Report Download - page 108

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See notes to consolidated financial statements.
F- 12
PBF HOLDING COMPANY LLC
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands)
Year ended December 31,
2013 2012 2011
Revenues $ 19,151,455 $ 20,138,687 $ 14,960,338
Costs 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 95,794 120,443 86,183
Gain on sale of assets (183)(2,329)—
Acquisition related expenses — — 728
Depreciation and amortization expense 111,479 92,238 53,743
18,823,056 19,218,254 14,654,648
Income from operations 328,399 920,433 305,690
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 (94,214)(108,629)(65,120)
Net income $ 238,876 $ 805,312 $ 242,671