HollyFrontier 2014 Annual Report Download - page 16

Table of Content
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(1) Crude charge represents the barrels per day of crude oil processed at our refineries.
(2) Refinery throughput represents the barrels per day of crude and other refinery feedstocks input to the crude units and other conversion
units at our refineries.
(3) Refinery production represents the barrels per day of refined products yielded from processing crude and other refinery feedstocks
through the crude units and other conversion units at our refineries.
(4) Includes refined products purchased for resale.
(5) Represents crude charge divided by total crude capacity (BPSD). Our consolidated crude capacity is 443,000 BPSD.
(6) Represents average per barrel amount for produced refined products sold, which is a non-GAAP measure. Reconciliations to amounts
reported under GAAP are provided under “Reconciliations to Amounts Reported Under Generally Accepted Accounting Principles”
following Item 7A of Part II of this Form 10-K.
(7) Transportation, terminal and refinery storage costs billed from HEP are included in cost of products.
(8) Excludes lower of cost or market inventory valuation adjustment of $397.5 million for the year ended December 31, 2014.
(9) Represents operating expenses of our refineries, exclusive of depreciation and amortization and pension settlement costs.
(10) Represents refinery operating expenses, exclusive of depreciation and amortization and pension settlement costs, divided by refinery
throughput.
Principal Products and Customers
Set forth below is information regarding our principal products.
Years Ended December 31,
2014 2013 2012
Consolidated
Sales of produced refined products:
Gasolines 50% 50% 50%
Diesel fuels 34% 33% 31%
Jet fuels 4% 5% 6%
Fuel oil 2% 2% 2%
Asphalt 3% 3% 3%
Lubricants 2% 2% 3%
LPG and other 5% 5% 5%
Total 100% 100% 100%
Light products are shipped to customers via product pipelines or are available for loading at our refinery truck facilities and
terminals. Light products are also made available to customers at various other locations via exchange with other parties.
We have several significant customers, of which two accounted for more than 10% of our business in 2014. For the year ended
December 31, 2014, Shell Oil accounted for $2,097.4 million, or 11%, of our revenues, and Sinclair accounted for $2,018.8 million,
or 10%, of our revenues. Our principal customers for gasoline include other refiners, convenience store chains, independent
marketers and retailers. Diesel fuel is sold to other refiners, truck stop chains, wholesalers and railroads. Jet fuel is sold for
commercial airline use. Specialty lubricant products are sold in both commercial and specialty markets. LPG's are sold to LPG
wholesalers and LPG retailers. We produce and purchase asphalt products that are sold to governmental entities, paving contractors
or manufacturers. Asphalt is also blended into fuel oil and is either sold locally or is shipped to the Gulf Coast. See Note 21
“Significant Customers” in the Notes to Consolidated Financial Statements for additional information on our significant customers.
Mid-Continent Region (El Dorado and Tulsa Refineries)
Facilities
The El Dorado Refinery is a high-complexity coking refinery with a 135,000 barrels per stream day processing capacity and the
ability to process significant volumes of heavy and sour crudes. The integrated refining processes at the Tulsa West and East
refinery facilities provide us with a highly complex refining operation having a combined crude processing rate of approximately
125,000 barrels per stream day. For 2014, gasoline, diesel fuel, jet fuel and specialty lubricants (excluding volumes purchased for
resale) represented 47%, 33%, 7% and 4%, respectively, of our Mid-Continent sales volumes.