PBF Energy 2013 Annual Report Download - page 57

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contemplated by the tax receivable agreement, the price of our Class A common stock at the time of such
exchanges, the extent to which such exchanges are taxable, and the amount and timing of our income;
• our expectations and timing with respect to our acquisition activity and whether any acquisitions are accretive
or dilutive to shareholders;
• our expectations with respect to our capital improvement projects including the development and expansion
of our Delaware City crude unloading facilities and status of an air permit to transfer crude to Paulsboro;
• the impact of disruptions to crude or feedstock supply to any of our refineries, including disruptions due
to problems with third party logistics infrastructure or operations, including pipeline and rail transportation;
• the possibility that we might reduce or not make further dividend payments;
• the impact of current and future laws, rulings and governmental regulations, including any change by the
federal government in the restrictions on exporting U.S. crude oil;
• adverse impacts from changes in our regulatory environment or actions taken by environmental interest
groups;
• the costs of being a public company, including Sarbanes-Oxley Act compliance;
• any decisions we make with respect to our energy-related logistical assets that could qualify for an MLP
structure, including future opportunities that we may determine present greater potential value to stockholders
than the planned MLP initial public offering;
• the timing and structure of the planned MLP initial public offering may change;
• unanticipated developments may delay or negatively impact the planned MLP initial public offering;
• receipt of regulatory approvals and compliance with contractual obligations required in connection with the
planned MLP initial public offering;
• the impact of the planned MLP initial public offering on our relationships with our employees, customers
and vendors and our credit rating and cost of funds; and
• although we are no longer a “controlled company” following our January 2014 Secondary Offering,
Blackstone and First Reserve continue to be able to significantly influence our decisions, and it is possible
that their interests will conflict with ours.
We caution you that the foregoing list of important factors may not contain all of the material factors that
are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-
looking statements contained in this Annual Report on Form 10-K may not in fact occur. Accordingly, investors
should not place undue reliance on those statements.
Our forward-looking statements speak only as of the date of this Annual Report on Form 10-K or as of the
date which they are made. Except as required by applicable law, including the securities laws of the United States,
we do not intend to update or revise any forward-looking statements. All subsequent written and oral forward-
looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the
foregoing.
Explanatory Note
This consolidated Form 10-K is filed by PBF Energy Inc., PBF Holding Company LLC and PBF Finance
Corporation. Each Registrant hereto is filing on its own behalf all of the information contained in this report that
relates to such Registrant. Each Registrant hereto is not filing any information that does not relate to such Registrant,
and therefore makes no representation as to any such information as of December 31, 2013. PBF Energy is the
sole managing member of, and owner, as of December 31, 2013, of an equity interest representing approximately
40.9% of the outstanding economic interests in, PBF LLC. PBF Holding is a wholly-owned subsidiary of PBF