PBF Energy 2013 Annual Report Download - page 159

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PBF ENERGY INC. AND
PBF HOLDING COMPANY LLC
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(IN THOUSANDS, EXCEPT SHARE, UNIT, PER SHARE, PER UNIT AND BARREL DATA)
F- 63
23. CONSOLIDATING FINANCIAL STATEMENTS OF PBF HOLDING
CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
Year Ended December 31, 2012
Issuer
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries
Combining
and
Consolidating
Adjustments Total
Revenues $ 7,622,924 $ 16,141,408 $ — $ (3,625,645) $20,138,687
Costs and expenses:
Cost of sales, excluding
depreciation 8,537,996 13,356,727 — (3,625,645) 18,269,078
Operating expenses, excluding
depreciation — 738,824 — — 738,824
General and administrative
expenses 105,135 15,308 — — 120,443
Loss on sale of asset — (2,329)— —
(2,329)
Depreciation and amortization
expense 8,051 84,187 — — 92,238
8,651,182 14,192,717 — (3,625,645) 19,218,254
(Loss) income from
operations (1,028,258) 1,948,691 — — 920,433
Other income (expense):
Equity in earnings (loss) of
subsidiaries 1,921,040 — — (1,921,040)—
Change in fair value of
contingent consideration — (2,768)— —
(2,768)
Change in fair value of catalyst
lease — (3,724)— —
(3,724)
Interest expense, net (87,470) (21,159)— —
(108,629)
Net income (loss) $ 805,312 $ 1,921,040 $ — $ (1,921,040) $ 805,312
Comprehensive Income (Loss) $ 798,747 $ 1,921,267 $ — $ (1,921,267) $ 798,747