PBF ENERGY INC., 10-K filed on 2/12/2026
Annual Report
v3.25.4
Document and Entity Information Document - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Feb. 06, 2026
Jun. 30, 2025
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-35764    
Entity Registrant Name PBF ENERGY INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 45-3763855    
Entity Address, Address Line One One Sylvan Way, Second Floor    
Entity Address, City or Town Parsippany,    
Entity Address, State or Province NJ    
Entity Address, Postal Zip Code 07054    
City Area Code 973    
Local Phone Number 455-7500    
Title of 12(b) Security Class A Common Stock, par value $.001    
Trading Symbol PBF    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 2.5
Documents Incorporated by Reference
PBF Energy Inc. intends to file with the Securities and Exchange Commission a definitive Proxy Statement for its Annual Meeting of Stockholders within 120 days after December 31, 2025. Portions of the Proxy Statement are incorporated by reference in Part III of this Form 10-K to the extent stated herein.
    
Entity Central Index Key 0001534504    
Amendment Flag false    
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2025    
Class A Common Stock      
Entity Information [Line Items]      
Entity Common Stock, Shares Outstanding (in shares)   116,926,814  
Class B Common Stock      
Entity Information [Line Items]      
Entity Common Stock, Shares Outstanding (in shares)   12  
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location Short Hills, New Jersey
Auditor Firm ID 185
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 527.9 $ 536.1
Accounts receivable 1,166.7 1,165.0
Inventories 2,563.1 2,595.3
Prepaid and other current assets 194.1 247.5
Total current assets 4,451.8 4,543.9
Property, plant and equipment (net of accumulated depreciation of $2,393.1 and $2,165.6, respectively) 5,517.8 5,067.7
Equity method investment in SBR 826.3 866.8
Lease right of use assets 759.7 845.3
Deferred charges and other assets, net 1,464.3 1,379.5
Total assets 13,019.9 12,703.2
Current liabilities:    
Accounts payable 801.2 735.6
Accrued expenses 2,662.9 2,533.5
Payable pursuant to Tax Receivable Agreement 0.0 125.4
Deferred revenue 20.8 43.8
Current operating lease liabilities 184.4 187.8
Total current liabilities 3,669.3 3,626.1
Long-term debt 2,148.3 1,457.3
Payable pursuant to Tax Receivable Agreement 168.2 168.2
Deferred tax liabilities 763.6 836.0
Long-term operating lease liabilities 543.0 622.2
Long-term financing lease liabilities 25.8 35.4
Other long-term liabilities 251.8 279.4
Total liabilities 7,570.0 7,024.6
Commitments and contingencies (Note 11)
Common Stock, Shares, Issued 116,937,076 115,311,992
Equity:    
Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares outstanding at December 31, 2025 and December 31, 2024 $ 0.0 $ 0.0
Treasury stock, at cost, 32,042,692 shares outstanding at December 31, 2025 and 31,479,723 shares outstanding at December 31, 2024 (1,237.6) (1,222.8)
Additional paid in capital 3,397.3 3,338.7
Retained earnings 3,149.9 3,436.2
Accumulated other comprehensive income (loss) 9.8 (8.0)
Total PBF Energy Inc. equity 5,319.5 5,544.2
Noncontrolling interest 130.4 134.4
Total equity 5,449.9 5,678.6
Total liabilities and equity 13,019.9 12,703.2
Class A Common Stock    
Equity:    
Common stock, value, issued 0.1 0.1
Class B Common Stock    
Equity:    
Common stock, value, issued $ 0.0 $ 0.0
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Accumulated depreciation $ 2,393.1 $ 2,165.6
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (in shares) 100,000,000 100,000,000
Preferred stock, shares outstanding (in shares) 0 0
Treasury stock, at cost, 23,419,532 shares outstanding at December 31, 2023 and 10,937,916 shares outstanding at December 31, 2022 (in shares) 32,042,692 31,479,723
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 1,000,000,000 1,000,000,000
Common stock, shares outstanding (in shares) 116,937,076 115,311,992
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 1,000,000 1,000,000
Common stock, shares outstanding (in shares) 12 12
v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Revenues $ 29,332.3 $ 33,115.3 $ 38,324.8
Cost and expenses:      
Cost of products and other 26,627.0 30,266.7 32,671.3
Operating expenses (excluding depreciation and amortization expense as reflected below) 2,646.0 2,606.2 2,694.9
Depreciation and amortization expense 630.3 614.6 560.0
Cost of sales 29,903.3 33,487.5 35,926.2
General and administrative expenses (excluding depreciation and amortization expense as reflected below) 332.3 260.4 362.5
Gain on insurance recoveries, net (832.5) 0.0 0.0
Depreciation and amortization expense 14.4 13.2 11.5
Change in fair value of contingent consideration, net 0.0 (3.3) (45.8)
Equity loss in investee 62.2 47.4 45.3
Loss (gain) on formation of SBR equity method investment 0.0 8.7 (925.1)
(Gain) loss on sale of assets (93.1) 0.4 (1.3)
Total cost and expenses 29,386.6 33,814.3 35,373.3
Income (loss) from operations (54.3) (699.0) 2,951.5
Other income (expense):      
Interest expense (net of interest income of $24.3, $51.2, and $75.0, respectively) (181.6) (72.0) (63.8)
Change in Tax Receivable Agreement liability 0.0 0.0 2.0
Change in fair value of catalyst obligations 0.0 0.0 1.1
Loss on extinguishment of debt 0.0 0.0 (5.7)
Other non-service components of net periodic benefit cost 1.3 2.4 0.7
Income (loss) before income taxes (234.6) (768.6) 2,885.8
Income tax (benefit) expense (74.1) (228.4) 723.8
Net income (loss) (160.5) (540.2) 2,162.0
Less: net income (loss) attributable to noncontrolling interests (2.0) (6.4) 21.5
Net income (loss) attributable to PBF Energy Inc. stockholders $ (158.5) $ (533.8) $ 2,140.5
Weighted-average shares of Class A common stock outstanding      
Basic (in shares) [1] 114,052,733 116,248,827 124,953,858
Diluted (in shares) 114,915,513 117,111,607 130,509,448
Net income (loss) available to Class A common stock per share:      
Basic (in usd per share) $ (1.39) $ (4.59) $ 17.13
Diluted (in usd per share) $ (1.39) $ (4.60) $ 16.52
[1] The diluted earnings per share calculation generally assumes the conversion of all outstanding PBF LLC Series A Units to PBF Energy Class A common stock. The net income (loss) attributable to PBF Energy used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income (loss), as well as the corresponding income tax (benefit) expense (based on a 26.0% annualized statutory corporate tax rate for the years ended December 31, 2025, 2024 and 2023, respectively) attributable to the converted units.
v3.25.4
Condensed Consolidated Statement of Operations (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Interest income, other $ 24.3 $ 51.2 $ 75.0
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ (160.5) $ (540.2) $ 2,162.0
Other comprehensive income (loss):      
Unrealized gain (loss) on available for sale securities 1.3 (0.3) (0.4)
Net gain (loss) on pension and other post-retirement benefits 16.5 4.6 (10.4)
Total other comprehensive income (loss) 17.8 4.3 (10.8)
Comprehensive income (loss) (142.7) (535.9) 2,151.2
Less: comprehensive income (loss) attributable to noncontrolling interests (2.0) (6.4) 21.5
Comprehensive income (loss) attributable to PBF Energy Inc. stockholders $ (140.7) $ (529.5) $ 2,129.7
v3.25.4
Consolidated Statements of Changes in Equity Statement - USD ($)
$ in Millions
Total
Class A Common Stock
Class B Common Stock
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Treasury stock repurchases                 10,937,916  
Beginning balance (in shares) at Dec. 31, 2022       129,639,307 13          
Beginning balance at Dec. 31, 2022 $ 5,056.0     $ 0.1 $ 0.0 $ 3,201.6 $ 2,056.0 $ (1.5) $ (327.0) $ 126.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Comprehensive income (loss) 2,151.2           2,140.5 (10.8)   21.5
Distributions to PBF Energy Company LLC members (5.3)                 (5.3)
Dividends (106.6)           (106.6)      
Stock-based compensation expense 35.8         35.8        
Transactions in connection with stock-based compensation plans (in shares)       3,229,920            
Transactions in connection with stock-based compensation plans 44.5         44.5        
Effect of change in deferred tax assets and liabilities and tax receivable agreement obligation (4.5)         (4.5)        
Exchange of PBF Energy Company LLC Series A Units for Class A common stock (in shares)       53,009 (1)          
Exchange of PBF Energy Company LLC Series A Units for PBF Energy Class A common stock 0.0                  
Treasury stock purchases (in shares)       (12,481,616)         12,481,616  
Treasury stock purchases (539.9)         1.3     $ (541.2)  
Other 0.1         0.1        
Ending balance, shares (in shares) at Dec. 31, 2023       120,440,620 12          
Ending balance at Dec. 31, 2023 6,631.3     $ 0.1 $ 0.0 3,278.8 4,089.9 (12.3) $ (868.2) 143.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Treasury stock repurchases                 23,419,532  
Comprehensive income (loss) (535.9)           (533.8) 4.3   (6.4)
Distributions to PBF Energy Company LLC members (1.6)                 (1.6)
Dividends (119.9)           (119.9)      
Stock-based compensation expense 35.2         35.2        
Transactions in connection with stock-based compensation plans (in shares)       2,931,563            
Transactions in connection with stock-based compensation plans 24.7         24.7        
Effect of change in deferred tax assets and liabilities and tax receivable agreement obligation (0.6)         (0.6)        
Exchange of PBF Energy Company LLC Series A Units for PBF Energy Class A common stock 0.0         0.6       (0.6)
Treasury stock purchases (in shares)       (8,060,191)         8,060,191  
Treasury stock purchases (354.6)               $ (354.6)  
Ending balance, shares (in shares) at Dec. 31, 2024   115,311,992 12 115,311,992 12          
Ending balance at Dec. 31, 2024 $ 5,678.6     $ 0.1 $ 0.0 3,338.7 3,436.2 (8.0) $ (1,222.8) 134.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Treasury stock repurchases 31,479,723               31,479,723  
Comprehensive income (loss) $ (142.7)           (158.5) 17.8   (2.0)
Distributions to PBF Energy Company LLC members (0.8)                 (0.8)
Dividends (127.8)           (127.8)      
Stock-based compensation expense 41.0         41.0        
Transactions in connection with stock-based compensation plans (in shares)       2,188,053            
Transactions in connection with stock-based compensation plans 17.6         17.6        
Treasury stock purchases (in shares)       (562,969)         562,969  
Treasury stock purchases (14.8)               $ (14.8)  
Other 1.2                 1.2
Ending balance, shares (in shares) at Dec. 31, 2025   116,937,076 12 116,937,076 12          
Ending balance at Dec. 31, 2025 $ 5,449.9     $ 0.1 $ 0.0 $ 3,397.3 $ 3,149.9 $ 9.8 $ (1,237.6) $ 130.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Treasury stock repurchases 32,042,692               32,042,692  
v3.25.4
Consolidated Statements of Changes in Equity Statement (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Class A Common Stock      
Dividends per common share (in dollars per share) $ 1.10 $ 1.025 $ 0.85
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net income (loss) $ (160.5) $ (540.2) $ 2,162.0
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:      
Depreciation and amortization 662.8 643.0 591.6
Stock-based compensation expense 39.0 44.3 51.5
Change in fair value of catalyst obligations 0.0 0.0 (1.1)
Deferred income taxes (77.9) (239.2) 537.0
Change in Tax Receivable Agreement liability 0.0 0.0 (2.0)
Non-cash lower of cost or market inventory adjustment 313.0 0.0 0.0
Change in fair value of contingent consideration, net 0.0 (3.3) (45.8)
Loss on extinguishment of debt 0.0 0.0 5.7
Pension and other post-retirement benefit costs 52.6 51.9 47.9
Gain on insurance recoveries, net (832.5) 0.0 0.0
Insurance proceeds 360.6 0.0 0.0
Loss from equity method investment 62.2 47.4 45.3
Loss (gain) on formation of SBR equity method investment 0.0 8.7 (925.1)
(Gain) loss on sale of assets (93.1) 0.4 (1.3)
Changes in operating assets and liabilities:      
Accounts receivable (1.7) 197.5 93.8
Inventories (280.8) 587.9 (409.0)
Prepaid and other current assets 53.5 19.9 (102.0)
Accounts payable 3.5 (196.7) 124.7
Accrued expenses 24.1 (475.9) (743.5)
Deferred revenue (23.0) (20.3) 23.5
Payment related to Tax Receivable Agreement (125.4) (44.8) 0.0
Other assets and liabilities (54.4) (37.2) (114.7)
Net cash (used in) provided by operating activities (78.0) 43.4 1,338.5
Cash flows from investing activities:      
Expenditures for property, plant and equipment (705.2) (390.9) (659.6)
Expenditures for deferred turnaround costs (379.5) (576.7) (473.5)
Expenditures for other assets (77.1) (40.7) (40.5)
Equity method investment - contribution (25.0) (35.0) (15.4)
Equity method investment - return of capital 3.4 1.8 846.0
Proceeds from sale of assets 170.3 0.0 4.4
Insurance proceeds 532.9 0.0 0.0
Net cash used in investing activities (480.2) (1,041.5) (338.6)
Cash flows from financing activities:      
Dividend payments (125.6) (119.0) (105.8)
Distributions to PBF Energy Company LLC members other than PBF Energy (0.9) (1.6) (5.3)
Redemption of 2025 7.25% Senior Notes 0.0 0.0 (666.2)
Proceeds from revolver borrowings 3,225.0 200.0 0.0
Repayments of revolver borrowings (3,325.0) 0.0 0.0
Redemption of PBFX 2023 Senior Notes 0.0 0.0 (525.0)
Settlements of precious metal catalyst obligations 0.0 0.0 (3.1)
Payments on financing leases (11.2) (12.2) (14.1)
Proceeds from insurance premium financing 115.6 123.2 13.0
Payments of insurance premium financing (106.6) (111.9) 0.0
Transactions in connection with stock-based compensation plans, net 2.9 1.4 38.3
Payments of contingent consideration 0.0 0.0 (80.1)
Share repurchases of PBF Energy’s Class A common stock 0.0 (329.1) (532.5)
Deferred financing costs and other (12.7) (0.1) (35.8)
Net cash provided by (used in) financing activities 550.0 (249.3) (1,420.0)
Net change in cash and cash equivalents (8.2) (1,247.4) (420.1)
Cash and cash equivalents, beginning of period 536.1 1,783.5 2,203.6
Cash and cash equivalents, end of period 527.9 536.1 1,783.5
Non-cash activities:      
Accrued and unpaid capital expenditures 220.1 85.5 145.0
Assets acquired or remeasured under operating and financing leases 156.2 288.6 271.6
Contribution of assets to SBR equity method investment 0.0 (8.7) (748.3)
Settlement of affiliate note payable to fund investment in SBR working capital 0.0 0.0 (74.9)
Cash paid during the year for:      
Interest, net of capitalized interest of $30.0, $18.6 and $38.2 in 2025, 2024 and 2023, respectively 156.9 93.1 103.6
Income taxes 4.0 17.7 299.0
2030 9.875% Senior Notes      
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 788.5 0.0 0.0
2030 7.875% Senior Notes      
Cash flows from financing activities:      
Proceeds from issuance of long-term debt $ 0.0 $ 0.0 $ 496.6
v3.25.4
Consolidated Statements of Cash Flows (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Cash Flows [Abstract]      
Capitalized interest $ 30.0 $ 18.6 $ 38.2
v3.25.4
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION
Description of the Business
PBF Energy Inc. (“PBF Energy”) is the sole managing member of PBF Energy Company LLC (“PBF LLC”), with a controlling interest in PBF LLC and its subsidiaries. PBF Energy consolidates the financial results of PBF LLC and its subsidiaries and records a noncontrolling interest in its Consolidated Financial Statements representing the economic interests of PBF LLC’s members other than PBF Energy (refer to “Note 14 - Noncontrolling Interests”).
PBF Energy holds a 99.3% economic interest in PBF LLC as of December 31, 2025 through its ownership of PBF LLC Series C Units, which are held solely by PBF Energy. Holders of PBF LLC Series A Units, which are held by parties other than PBF Energy (“the members of PBF LLC other than PBF Energy”), hold the remaining 0.7% economic interest in PBF LLC. In addition, the amended and restated limited liability company agreement of PBF LLC provides that any PBF LLC Series A Units acquired by PBF Energy will automatically be reclassified as PBF LLC Series C Units in connection with such acquisition. PBF LLC, together with its consolidated subsidiaries, owns and operates oil refineries and related facilities in North America. Additionally, PBF LLC, together with its subsidiaries, own an interest in an equity method investment in St. Bernard Renewables LLC (“SBR”) that owns and operates a biorefinery co-located with the Chalmette refinery in Louisiana (the “Renewable Diesel Facility”).
Collectively, PBF Energy and its consolidated subsidiaries, are referred to hereinafter as the “Company” unless the context otherwise requires.
Substantially all of the Company’s operations are in the United States. The Company operates in two reportable segments: Refining and Logistics. The Company’s oil refineries are all engaged in the refining of crude oil and other feedstocks into petroleum products and represent the Refining segment. PBF Logistics LP (“PBFX”) operates logistics assets such as crude oil and refined products terminals, pipelines and storage facilities. The Logistics segment consists solely of PBFX’s operations.
Investment in Equity Method Investee
On June 27, 2023, the Company contributed certain assets to SBR, a jointly held investment between the Company and Eni Sustainable Mobility US. Inc., a controlled subsidiary of Eni S.p.A. (collectively “Eni”). The Company accounts for its 50% equity ownership of SBR as an equity method investment, as the Company has significant influence, but not control, over SBR.
Martinez Refinery Fire
On February 1, 2025, a fire occurred at the Company’s Martinez refinery, which is owned and operated by Martinez Refinery Company LLC (“MRC”), while the refinery was in the preliminary stages of its previously announced turnaround (the “Martinez refinery fire”). As a result, the refinery was fully shut down until April 2025, when certain unaffected units, including the crude unit, were restarted and the refinery began producing limited quantities of gasoline, jet fuel, and intermediates. Investigations are being conducted by various regulatory agencies, including the California Department of Industrial Relations - the Division of Occupational Safety and Health (“CalOSHA”), the Bay Area Air District (“BAAD”), Contra Costa County (“CCC”), the Department of Justice (“DOJ”), the United States Attorney’s Office (“USAO”), the Environmental Protection Agency (“EPA”), and the Chemical Safety Board. There are uncertainties around these inquiries and investigations and potential results and consequences, including whether any financial penalties will be assessed or changes to the operations of the Martinez refinery will result therefrom. At this time, the potential liabilities, including regulatory penalties, arising from the incident are unknown, and the full financial impact of this incident cannot reasonably be estimated.
Construction activities are expected to be complete by February 16, 2026. The commissioning phase of utility systems and certain idled equipment has been underway since early January, and a sequenced restart of the refinery will progress following successful completion of quality assurance and control processes. The Company expects that start-up of the Catalytic Cracking Unit will be complete in the first week of March.
The Company expects that the cost of repairs to the fire-damaged units and restoring the refinery to full operational status will largely be covered under its property insurance coverage, subject to the Company’s deductible and retentions totaling $30.0 million. The Company’s insurance policy also includes business interruption coverage, which contains a 60-day waiting period. This coverage commenced on April 3, 2025. While the Company expects its insurance coverage will significantly offset the financial impact of the Martinez refinery fire, other than for the business interruption waiting period, deductibles and retentions, the timing of insurance proceeds may impact the Company’s results and its cash flow in a given reporting period.
During 2025, the Company received unallocated insurance proceeds totaling $893.5 million, net of deductibles and retentions. As a result, for the year ended December 31, 2025, the Company recognized a Gain on insurance recoveries of $832.5 million, in the Consolidated Statements of Operations. This total is net of the $61.0 million receivable previously recorded at March 31, 2025, related to the recovery of the write down of the net book value of the damaged refinery units and certain fire response costs.
Any insurance proceeds attributable to property damage in excess of the recognized property loss is considered a gain contingency and will not be recognized until it is realizable.
In addition, during the year ended December 31, 2025, the Company incurred $163.7 million in operating expenses directly related to the fire response, recovery, and cleanup efforts as well as certain costs associated with the restart of the refinery. Certain of these expenses may be recoverable through the Company’s insurance claim process and will be recorded as a gain in the quarter in which insurance proceeds are probable of being received.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation and Presentation
These Consolidated Financial Statements include the accounts of PBF Energy and subsidiaries in which PBF Energy has a controlling interest. All intercompany accounts and transactions have been eliminated in consolidation.
Cost Classifications
Cost of products and other consists of the cost of crude oil, other feedstocks, blendstocks and purchased refined products and the related in-bound freight and transportation costs.
Operating expenses (excluding depreciation and amortization) consists of direct costs of labor, maintenance and services, utilities, property taxes, environmental compliance costs and other direct operating costs incurred in connection with the Company’s refining operations. Such expenses exclude depreciation related to refining and logistics assets that are integral to the refinery production process, which is presented separately as Depreciation and amortization expense as a component of Cost of sales on the Company’s Consolidated Statements of Operations.
Use of Estimates
The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the related disclosures. Actual results could differ from those estimates.
Impairment Assessment of Long-Lived Assets and Definite-Lived Intangibles
The Company evaluates long-lived assets for impairment on a continual basis and reassesses the reasonableness of their related useful lives whenever events or changes in circumstances warrant assessment. Possible triggering events may include, among other things, significant adverse changes in the business climate, market conditions, environmental regulations or a determination that it is more likely than not that an asset or an asset group will be sold or retired before its estimated useful life. These possible triggering events of impairment may impact the Company’s assumptions related to future throughput levels, future operating revenues, expenses and gross margin, levels of anticipated capital expenditures and remaining useful life. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. A long-lived asset is not recoverable if its carrying amount exceeds the sum of the undiscounted cash flows expected to result from its use, early retirement or disposition. Cash flows for long-lived assets/asset groups are determined at the lowest level for which identifiable cash flows exist. The cash flows from the refinery asset groups are evaluated individually regardless of product mix or fuel type produced. If a long-lived asset is not recoverable, an impairment loss is recognized for the amount by which the carrying amount of the long-lived asset exceeds its fair value, with fair value determined based on discounted estimated net cash flows or other appropriate methods. The Company’s assumptions incorporate inherent uncertainties that are at times difficult to predict and could result in impairment charges or accelerated depreciation in future periods if actual results materially differ from the estimated assumptions used.
Equity Method Investment
For equity investments that are not required to be consolidated under the variable or voting interest model, the Company evaluates the level of influence it is able to exercise over an entity’s operations to determine whether to use the equity method of accounting. The Company’s judgment regarding the level of influence over an equity method investment includes considering key factors such as its ownership interest, participation in policy-making and other significant decisions and material intercompany transactions. Equity investments for which the Company determines it has significant influence are accounted for as equity method investments. Amounts recognized for equity method investments are shown separately in the Company’s Consolidated Balance Sheets and adjusted for its share of the net earnings and losses of the investee and cash distributions, which is separately stated in its Consolidated Statements of Operations and its Consolidated Statements of Cash Flows.
Contributions made to equity method investees at times are in the form of loan agreements. Loans provided to equity method investees that are made based on the Company's proportionate ownership percentage are accounted for as “in-substance capital contributions” and are treated as an increase to the investment. In addition, the Company treats interest paid in kind on the loan agreements as an “in-substance return of capital” and reduces its investment accordingly, rather than recording interest income.
The Company evaluates its equity method investments presented for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may be impaired. There were no impairment losses recorded on equity method investments for the year ended December 31, 2025 and 2024. See “Note 6 - Equity Investment in SBR” for further information on the Company’s only current equity method investment.
Variable Interest Entities
The Company’s Consolidated Financial Statements include the financial statements of its subsidiaries and variable interest entities (“VIE”), of which the Company is the primary beneficiary. The Company evaluates all legal entities in which it holds an ownership or other financial interest to determine if the entity is a VIE. Variable interests can be contractual, ownership or other financial interests in an entity that change with changes in the fair value of the VIE’s assets. If the Company is not the primary beneficiary, the general partner or another limited partner may consolidate the VIE, and the Company records the investment as an equity method investment.
Cash and Cash Equivalents
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The carrying amount of the cash equivalents approximates fair value due to the short-term maturity of those instruments.
Concentrations of Credit Risk
For the years ended December 31, 2025 and December 31, 2024, only one customer, Shell plc (“Shell”), accounted for 10% or more of the Company’s revenues (approximately 13% and 13%, respectively).
As of December 31, 2025 and December 31, 2024, only one customer, Shell, accounted for 10% or more of the Company’s total trade accounts receivable (approximately 14% and 18%, respectively).
Revenue Recognition
The Company sells various refined products primarily through its refinery subsidiaries and recognizes revenue related to the sale of products when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Refer to “Note 17 - Revenues” for further discussion of the Company’s revenue recognition policy.
Accounts Receivable
Accounts receivable are carried at invoiced amounts. An allowance for doubtful accounts is established, if required, to report such amounts at their estimated net realizable value. In estimating probable losses, management reviews accounts that are past due and determines if there are any known disputes.
Excise taxes on sales of refined products that are collected from customers and remitted to various governmental agencies are reported on a net basis.
Inventory
Inventories are carried at the lower of cost or market (“LCM”). The cost of crude oil, feedstocks, blendstocks and refined products are determined under the last-in first-out (“LIFO”) method using the dollar value LIFO method with increments valued based on average purchase prices during the year. The cost of supplies and other inventories is determined principally on the weighted average cost method.
RINs
The Company is subject to obligations to purchase Renewable Identification Numbers (“RINs”) required to comply with the renewable fuel standard implemented by the EPA, which sets annual quotas for the quantity of renewable fuels (such as ethanol) that must be blended into motor fuels consumed in the United States (the “RFS”). The Company’s overall RINs obligation is based on a percentage of domestic shipments of on-road fuels as established by EPA. To the degree the Company is unable to blend the required amount of biofuels to satisfy its RINs obligation, RINs must be purchased on the open market to avoid penalties and fines. The Company records its RINs obligation on a net basis in Accrued expenses when its RINs liability is greater than the amount of RINs earned and purchased in a given period and in Prepaid and other current assets when the amount of RINs earned and purchased is greater than the RINs liability.
Leases
The Company leases office space, office equipment, refinery facilities and equipment, railcars and other logistics assets primarily under non-cancelable operating leases, with terms typically ranging from one to twenty years, subject to certain renewal options as applicable. The Company considers those renewal or termination options that are reasonably certain to be exercised in the determination of the lease term and initial measurement of lease liabilities and right-of-use assets. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Interest expense for finance leases is incurred based on the carrying value of the lease liability. Leases with an initial term of 12 months or less are not recorded on the Company’s Consolidated Balance Sheets.
The Company determines whether a contract is or contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company must discount lease payments based on an estimate of its incremental borrowing rate.
For substantially all classes of underlying assets, the Company has elected the practical expedient not to separate lease and non-lease components, which allows for combining the components if certain criteria are met. For certain leases of refinery support facilities, the Company accounts for the non-lease service component separately.
Property, Plant and Equipment
Property, plant and equipment additions are recorded at cost. The Company capitalizes costs associated with the preliminary, pre-acquisition and development/construction stages of a major construction project. The Company capitalizes the interest cost associated with major construction projects based on the effective interest rate of total borrowings. The Company also capitalizes costs incurred in the acquisition and development of software for internal use, including the costs of software, materials, consultants and payroll-related costs for employees incurred in the application development stage.
Depreciation is computed using the straight-line method over the following estimated useful lives:
Computers, furniture and fixtures
3-7 years
Leasehold improvements
20 years
Process units and equipment
5-25 years
Pipeline and equipment
5-25 years
Buildings
25 years
Railcars
50 years
Maintenance and repairs are charged to operating expenses as they are incurred. Improvements and betterments, which extend the lives of the assets, are capitalized.
Deferred Charges and Other Assets, Net
Deferred charges and other assets include refinery turnaround costs, catalyst, precious metal catalysts, linefill, deferred financing costs and intangible assets. Refinery turnaround costs, which are incurred in connection with planned major maintenance activities, are capitalized when incurred and amortized on a straight-line basis over the period of time estimated to lapse until the next turnaround occurs, which is based on an engineering assessment. The amortization period generally ranges from 3 to 6 years; however, based on the specific facts and circumstances, different periods of deferral may occur.
Precious metal catalysts, linefill and certain other intangibles are considered indefinite-lived assets as they are not expected to deteriorate in their prescribed functions. Such assets are assessed for impairment in connection with the Company’s review of its long-lived assets.
Deferred financing costs are capitalized when incurred and amortized over the life of the loan.
Intangible assets with finite lives primarily consist of emission credits, permits and customer relationships and are amortized over their estimated useful lives (generally 1 to 10 years).
Asset Retirement Obligations
The Company records an asset retirement obligation at fair value for the estimated cost to retire a tangible long-lived asset at the time the Company incurs that liability, which is generally when the asset is purchased, constructed, or leased. The Company records the liability when it has a legal or contractual obligation to incur costs to retire the asset and when a reasonable estimate of the fair value of the liability can be made. If a reasonable estimate cannot be made at the time the liability is incurred, the Company will record the liability when sufficient information is available to estimate the liability’s fair value. Certain of the Company’s asset retirement obligations are based on its legal obligation to perform remedial activity at its refinery sites when it permanently ceases operations of the long-lived assets. The Company therefore considers the settlement date of these obligations to be indeterminable. Accordingly, the Company cannot calculate an associated asset retirement liability for these obligations at this time. The Company will measure and recognize the fair value of these asset retirement obligations when the settlement date is determinable.
Environmental Matters
Liabilities for future remediation costs are recorded when environmental assessments and/or remedial efforts are probable, and the costs can be reasonably estimated. Other than for assessments, the timing and magnitude of these accruals generally are based on the completion of investigations or other studies or a commitment to a formal plan of action. Environmental liabilities are based on best estimates of probable future costs using currently available technology and applying current regulations, as well as the Company’s own internal environmental policies. The measurement of environmental remediation liabilities may be discounted to reflect the time value of money if the aggregate amount and timing of cash payments of the liabilities are fixed or reliably determinable. The actual settlement of the Company’s liability for environmental matters could materially differ from its estimates due to a number of uncertainties such as the extent of contamination, changes in environmental laws and regulations, potential improvements in remediation technologies and the participation of other responsible parties.
Stock-Based Compensation
Stock-based compensation includes the accounting effect of options to purchase PBF Energy Class A common stock granted by the Company to certain employees, Series A warrants issued or granted by PBF LLC to employees in connection with their acquisition of PBF LLC Series A units, options to acquire Series A units of PBF LLC granted by PBF LLC to certain employees, Series B units of PBF LLC that were granted to certain members of management and restricted PBF LLC Series A Units and restricted PBF Energy Class A common stock granted to certain directors and officers. The estimated fair value of the options to purchase PBF Energy Class A common stock and the PBF LLC Series A warrants and options is based on the Black-Scholes option pricing model and the fair value of the PBF LLC Series B units is estimated based on a Monte Carlo simulation model. The estimated fair value is amortized as stock-based compensation expense on a straight-line method over the vesting period and included in General and administrative expense with forfeitures recognized in the period they occur.
The Company grants performance share unit awards and performance unit awards to certain key employees. Performance awards granted to employees are based on a three-year performance cycle having a single measurement period. The payout for each, which ranges from zero to 200%, is based on the relative ranking of the total shareholder return (“TSR”) of PBF Energy’s common stock as compared to the TSR of a selected group of industry peer companies over an average of four measurement periods. The performance share unit awards and performance unit awards are each measured at fair value based on Monte Carlo simulation models. The performance share unit awards will be settled in PBF Energy Class A common stock and are accounted for as equity awards and the performance unit awards will be settled in cash and are accounted for as liability awards.
Income Taxes
As a result of the PBF Energy’s acquisition of PBF LLC Series A Units or exchanges of PBF LLC Series A Units for PBF Energy Class A common stock, PBF Energy expects to benefit from amortization and other tax deductions reflecting the step up in tax basis in the acquired assets. Those deductions will be allocated to PBF Energy and will be taken into account in reporting PBF Energy’s taxable income. As a result of a federal income tax election made by PBF LLC, applicable to a portion of PBF Energy’s acquisition of PBF LLC Series A Units, the income tax basis of the assets of PBF LLC, underlying a portion of the units PBF Energy acquired, has been adjusted based upon the amount that PBF Energy paid for that portion of its PBF LLC Series A Units. PBF Energy entered into a tax receivable agreement with the PBF LLC Series A and PBF LLC Series B unitholders (the “Tax Receivable Agreement”), which provides for the payment by PBF Energy equal to 85% of the amount of the benefits, if any, that PBF Energy is deemed to realize as a result of (i) increases in tax basis and (ii) certain other tax benefits related to entering into the Tax Receivable Agreement, including tax benefits attributable to payments under the Tax Receivable Agreement. As a result of these transactions, PBF Energy’s tax basis in its share of PBF LLC’s assets will be higher than the book basis of these same assets. This resulted in a deferred tax asset of $141.8 million as of December 31, 2025.
Deferred taxes are calculated using a liability method, whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences represent the differences between reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effect of changes in tax laws and rates on the date of enactment. PBF Energy recognizes tax benefits for uncertain tax positions only if it is more likely than not that the position is sustainable based on its technical merits. Interest and penalties on uncertain tax positions are included as a component of the provision for income taxes on the Consolidated Statements of Operations. The Company assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of existing deferred tax assets. On the basis of this evaluation, a valuation allowance is recorded to recognize only the portion of deferred tax assets that are more likely than not to be realized. The amount of the deferred tax assets considered realizable, however, could be adjusted if estimates of future taxable income during the carryover period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as PBF Energy’s projections for future taxable income.
The federal tax returns for all years since 2021 and state tax returns for all years since 2021 (see “Note 18 - Income Taxes”) are subject to examination by the respective tax authorities.
Net Income Per Share
Net income per share is calculated by dividing the net income available to PBF Energy Class A common stockholders by the weighted average number of shares of PBF Energy Class A common stock outstanding during the period. Diluted net income per share is calculated by dividing the net income available to PBF Energy Class A common stockholders, adjusted for the net income attributable to the noncontrolling interest and the assumed income tax expense thereon, by the weighted average number of PBF Energy Class A common shares outstanding during the period adjusted to include the assumed exchange of all PBF LLC Series A units outstanding for PBF Energy Class A common stock, if applicable under the if converted method, and the potentially dilutive effect of outstanding options to purchase shares of PBF Energy Class A common stock, performance share awards and options and warrants to purchase PBF LLC Series A Units, subject to forfeiture utilizing the treasury stock method.
Pension and Other Post-Retirement Benefits
The Company recognizes an asset for the overfunded status or a liability for the underfunded status of its pension and post-retirement benefit plans. The funded status is recorded within Other long-term liabilities or Other non-current assets. Changes in the plans’ funded status are recognized in other comprehensive income in the period the change occurs.
Fair Value Measurement
A fair value hierarchy (Level 1, Level 2, or Level 3) is used to categorize fair value amounts based on the quality of inputs used to measure fair value. Accordingly, fair values derived from Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities. Fair values derived from Level 2 inputs are based on quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are either directly or indirectly observable for the asset or liability. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.
The Company uses appropriate valuation techniques based on the available inputs to measure the fair values of its applicable assets and liabilities. When available, the Company measures fair value using Level 1 inputs because they generally provide the most reliable evidence of fair value. In some valuations, the inputs may fall into different levels in the hierarchy. In these cases, the asset or liability level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurements.
Financial Instruments
The estimated fair value of financial instruments has been determined based on the Company’s assessment of available market information and appropriate valuation methodologies. The Company’s non-derivative financial instruments that are included in current assets and current liabilities are recorded at cost in the Consolidated Balance Sheets. The estimated fair value of these financial instruments approximates their carrying value due to their short-term nature. Derivative instruments are recorded at fair value in the Consolidated Balance Sheets.
The Company’s commodity contracts are measured and recorded at fair value using Level 1 inputs based on quoted prices in an active market, Level 2 inputs based on quoted market prices for similar instruments, or Level 3 inputs based on third-party sources and other available market based data. The Company’s catalyst obligations and derivatives related to the Company’s crude oil and feedstocks and refined product purchase obligations are measured and recorded at fair value using Level 2 inputs on a recurring basis, based on observable market prices for similar instruments.
Derivative Instruments
The Company is exposed to market risk, primarily related to changes in commodity prices for the crude oil and feedstocks used in the refining process as well as the prices of the refined products sold, and the risk associated with the price of credits needed to comply with various governmental and regulatory environmental compliance programs. The accounting treatment for commodity and environmental compliance contracts depends on the intended use of the particular contract and on whether or not the contract meets the definition of a derivative.
All derivative instruments, not designated as normal purchases or sales, are recorded in the Consolidated Balance Sheets as either assets or liabilities measured at their fair values. Changes in the fair value of derivative instruments that either are not designated or do not qualify for hedge accounting treatment or normal purchase or normal sale accounting are recognized in earnings. Contracts qualifying for the normal purchase and sales exemption are accounted for upon settlement. Cash flows related to derivative instruments that are not designated or do not qualify for hedge accounting treatment are included in operating activities.
The Company designates certain derivative instruments as fair value hedges of a particular risk associated with a recognized asset or liability. At the inception of the hedge designation, the Company documents the relationship between the hedging instrument and the hedged item, as well as its risk management objective and strategy for undertaking various hedge transactions. Derivative gains and losses related to these fair value hedges, including hedge ineffectiveness, are recorded in cost of sales along with the change in fair value of the hedged asset or liability attributable to the hedged risk. Cash flows related to derivative instruments that are designated as fair value hedges are included in operating activities.
Economic hedges are hedges not designated as fair value or cash flow hedges for accounting purposes that are used to (i) manage price volatility in certain refinery feedstock and refined product inventories, and (ii) manage price volatility in certain forecasted refinery feedstock purchases and refined product sales. These instruments are recorded at fair value and changes in the fair value of the derivative instruments are recognized currently in cost of sales.
Derivative accounting is complex and requires management judgment in the following respects: identification of derivatives and embedded derivatives, determination of the fair value of derivatives, documentation of hedge relationships, assessment and measurement of hedge ineffectiveness and election and designation of the normal purchases and sales exemption. All of these judgments, depending upon their timing and effect, can have a significant impact on the Company’s earnings.
Recently Adopted Accounting Pronouncements
In November 2023, FASB issued Accounting Standard Update (“ASU”) 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures.” The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The Company’s adoption of this guidance in December 2024 resulted in additional disclosure requirements but did not have a significant impact on its Consolidated Financial Statements.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) - Improvements to Income Tax Disclosures” which focuses on the rate reconciliation and income taxes paid. This ASU requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The guidance applies to all entities subject to income taxes and is effective for annual periods beginning after December 15, 2024. The Company adopted this standard for the year ended December 31, 2025. See “Note 18 - Income Taxes” for additional information.
Recently Issued Accounting Pronouncements
In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”) which introduces new disclosure requirements aimed at enhancing the transparency of expense information presented in the financial statements. Specifically, it mandates that public business entities disaggregate certain expense captions presented on the face of the Consolidated Statements of Operations into specified natural expense categories within the notes to the financial statements. For public business entities, the amendments are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual periods, with early adoption permitted. An entity may apply the amendments in this ASU prospectively or retrospectively. The Company is currently evaluating the impact of adopting ASU 2024-03 on its consolidated financial statements. While the Company does not anticipate that the adoption of this ASU will have a material impact on its Consolidated Financial Statements, it will result in additional disclosure requirements in the notes to its financial statements. The Company will continue to monitor any further guidance or interpretations by the FASB related to this ASU and will provide updates in future filings.
v3.25.4
CURRENT EXPECTED CREDIT LOSSES
 12 Months Ended
Dec. 31, 2025
Credit Loss [Abstract]  
CURRENT EXPECTED CREDIT LOSSES CURRENT EXPECTED CREDIT LOSSES
Credit Losses
The Company has exposure to credit losses primarily through its sales of refined products. The Company evaluates creditworthiness on an individual customer basis. The Company utilizes a financial review model for purposes of evaluating creditworthiness which is based on information from financial statements and credit reports. The financial review model enables the Company to assess the customer’s risk profile and determine credit limits on the basis of their financial strength, including but not limited to, their liquidity, leverage, debt serviceability, longevity and how they pay their bills. The Company may require security in the form of letters of credit or cash payments in advance of product delivery for certain customers that are deemed higher risk.
The Company’s payment terms on its trade receivables are relatively short, generally 30 days or less for a substantial majority of its refined products. As a result, the Company’s collection risk is mitigated to a certain extent by the fact that sales are collected in a relatively short period of time, allowing for the ability to reduce exposure on defaults if collection issues are identified. Notwithstanding, the Company reviews each customer’s credit risk profile at least annually or more frequently if warranted.
The Company performs a quarterly allowance for doubtful accounts analysis to assess whether an allowance needs to be recorded for any outstanding trade receivables. In estimating credit losses, management reviews accounts that are past due, have known disputes or have experienced any negative credit events that may result in future collectability issues. There was no allowance for doubtful accounts recorded as of December 31, 2025 or December 31, 2024.
v3.25.4
INVENTORIES
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
Inventories consisted of the following:
(in millions)December 31, 2025December 31, 2024
Crude oil and feedstocks$1,438.0 $1,232.7 
Refined products and blendstocks1,260.5 1,194.6 
Warehouse stock and other177.6 168.0 
2,876.1 2,595.3 
Lower of cost or market adjustment(313.0)— 
Total inventories$2,563.1 $2,595.3 
During the year ended December 31, 2025, the Company recorded an adjustment to value its inventories to the LCM, which decreased income from operations by $313.0 million. As of December 31, 2024 there was no LCM inventory adjustment recorded as the replacement value of inventories exceeded the LIFO carrying value by approximately $7.7 million.
An actual valuation of inventories valued under the LIFO method is made at the end of each year based on inventory levels and costs at that time. During the year ended December 31, 2025, the Company recorded a pre-tax charge related to a LIFO layer decrement of $5.4 million in the Refining segment, primarily associated with the Martinez refinery. During the year ended December 31, 2024, the Company recorded a pre-tax charge related to a LIFO layer decrement of $124.5 million in the Refining segment, with the majority related to the Company’s East Coast and Gulf Coast LIFO inventory layers.
v3.25.4
PROPERTY, PLANT AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, NET PROPERTY, PLANT AND EQUIPMENT, NET
Property, plant and equipment, net consisted of the following:
(in millions)December 31,
2025		December 31,
2024
Processing units, pipelines and equipment$5,839.3 $5,727.4 
Construction in progress1,073.5 507.6 
Land519.2 527.9 
Computers, furniture and fixtures268.5 258.3 
Buildings and leasehold improvements210.4 212.1 
7,910.9 7,233.3 
Less—Accumulated depreciation(2,393.1)(2,165.6)
Total property, plant and equipment, net$5,517.8 $5,067.7 
Depreciation expense for the years ended December 31, 2025, 2024, and 2023 was $261.7 million, $255.5 million, and $243.2 million, respectively. The Company capitalized $30.0 million and $18.6 million in interest during 2025 and 2024, respectively, in connection with construction in progress.
Sale of Terminal Assets
On September 30, 2025, through a subsidiary of PBFX, the Company closed on the sale of two of its non-core refined product terminal facilities located in Philadelphia, PA, and Knoxville, TN, for total consideration of $175.4 million, excluding commissions and customary closing costs. The sale resulted in a gain of approximately $94.0 million for the year ended December 31, 2025, which is included within Gain on sale of assets in the Consolidated Statements of Operations.
v3.25.4
EQUITY INVESTMENT IN SBR
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
EQUITY INVESTMENT IN SBR EQUITY INVESTMENT IN SBR
On June 27, 2023, the Company and Eni consummated the closing of the equity method investment transaction and the capitalization of SBR, a jointly held investee designed to own, develop, and operate the Renewable Diesel Facility. The Company contributed the SBR business with an estimated fair value of approximately $1.69 billion, excluding working capital, in exchange for $431.0 million of cash contributed by Eni at close and its 50% interest in the entity, which includes rights to special distributions from SBR (with corresponding amounts funded by Eni) based on the achievement of certain project milestones and performance criteria. The Company received the first special distribution of $414.6 million subsequent to the commercial start up of the pre-treatment unit in July 2023. These special distributions are reflected as return of capital on the Company’s Consolidated Statement of Cash flows under investing activities. During the year ended December 31, 2023, the Company recorded a gain of $925.1 million resulting from the difference between the fair value of the consideration received, including its 50% noncontrolling interest, and the carrying value of the related assets contributed. During the year ended December 31, 2024, the Company recorded an $8.7 million reduction of that gain.
The Company determined that SBR is a VIE because the entity does not have sufficient equity at risk to fund its operations without additional financial support from its owners. The Company is not the primary beneficiary of this VIE because it does not have the ability to make the most relevant decisions that significantly affect its economic performance.
The investment in SBR is accounted for under the equity method, and the Company has a maximum exposure to loss from it based on its recognized investment value.
The Company has entered into agreements with SBR and/or its subsidiary that allow the Company to purchase environmental credits and hydrocarbon products at its election. The Company does not have any obligation to buy a specific amount of environmental credits under such agreements unless otherwise agreed. Refer to “Note 10- Related Party Transactions” for further information regarding related party transactions with SBR.
v3.25.4
DEFERRED CHARGES AND OTHER ASSETS, NET
 12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
DEFERRED CHARGES AND OTHER ASSETS, NET DEFERRED CHARGES AND OTHER ASSETS, NET
Deferred charges and other assets, net consisted of the following:
(in millions)
December 31,
2025		December 31,
2024
Deferred turnaround costs, net$1,131.7 $1,086.6 
Catalyst, net (a)232.9 191.1 
Environmental credits42.5 42.5 
Linefill34.2 27.4 
Pension plan assets 18.6 19.4 
Other4.4 12.5 
Total deferred charges and other assets, net$1,464.3 $1,379.5 
(a) Catalyst, net includes approximately $115.0 million of indefinite-lived precious metal catalysts as of both December 31, 2025 and December 31, 2024.
The Company recorded amortization expense related to deferred turnaround costs, catalyst and intangible assets of $371.6 million, $358.3 million, and $314.4 million for the years ended December 31, 2025, 2024, and 2023, respectively.
v3.25.4
ACCRUED EXPENSES
 12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
ACCRUED EXPENSES ACCRUED EXPENSES
Accrued expenses consisted of the following:
(in millions)
December 31,
2025		December 31,
2024
Inventory-related accruals$1,351.5 $1,398.8 
Renewable energy credit and emissions obligations (a)
574.8 465.9 
Accrued transportation costs136.6 175.2 
Accrued capital expenditures126.4 52.7 
Excise and sales tax payable92.8 150.7 
Accrued utilities82.6 71.5 
Accrued salaries and benefits61.4 23.9 
Accrued refinery maintenance and support costs56.7 45.5 
Accrued interest53.8 29.5 
Accrued purchases - SBR39.4 47.8 
Current finance lease liabilities12.2 11.2 
Environmental liabilities 9.7 9.7 
Other65.0 51.1 
Total accrued expenses$2,662.9 $2,533.5 
(a) The Company is subject to obligations to purchase RINs required to comply with RFS. The Company’s overall RINs obligation is based on a percentage of domestic shipments of on-road fuels as established by the EPA. To the degree the Company is unable to blend the required amount of biofuels to satisfy its RINs obligation, RINs must be purchased on the open market to avoid penalties and fines. The Company records its RINs obligation on a net basis in Accrued expenses when its RINs liability is greater than the amount of RINs earned and purchased in a given period and in Prepaid and other current assets when the amount of RINs earned and purchased is greater than the RINs liability. In addition, the Company is subject to obligations to comply with federal and state legislative and regulatory measures, including regulations in the state of California pursuant to Assembly Bill 32 (“AB 32”), to address environmental compliance and greenhouse gas (“GHG”) and other emissions. These requirements include incremental costs to operate and maintain the Company’s facilities as well as to implement and manage new emission controls and programs. Renewable energy credit and emissions obligations fluctuate with the volume of applicable product sales and timing of credit purchases. From time to time, the Company enters into forward purchase commitments in order to acquire its renewable energy and emissions credits at fixed prices. The Company’s RIN obligations will be settled in accordance with established regulatory deadlines. The majority of the Company’s current AB 32 liability is part of an ongoing triennial period program through 2026 which will be settled in 2027.
v3.25.4
CREDIT FACILITIES AND DEBT
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
CREDIT FACILITIES AND DEBT CREDIT FACILITIES AND DEBT
Debt outstanding consisted of the following:
(in millions)December 31,
2025		December 31,
2024
6.00% senior unsecured notes due 2028 (“2028 6.00% Senior Notes”)
$801.6 $801.6 
9.875% senior unsecured notes due 2030 (“2030 9.875% Senior Notes”)
800.0 — 
7.875% senior unsecured notes due 2030 (“2030 7.875% Senior Notes”)
500.0 500.0 
Revolving Credit Facility100.0 200.0 
2,201.6 1,501.6 
Unamortized deferred financing costs (41.0)(41.6)
Unamortized discount(12.3)(2.7)
Long-term debt$2,148.3 $1,457.3 
2030 9.875% Senior Notes
On March 17, 2025, PBF Holding entered into an indenture among PBF Holding and PBF Holding’s wholly-owned subsidiary, PBF Finance Corporation (together with PBF Holding, the “Issuers”), the guarantors named therein (collectively the “Guarantors”), Wilmington Trust, National Association, as Trustee and Deutsche Bank Trust Company Americas, as Paying Agent, Registrar, Transfer Agent and Authenticating Agent, under which the Issuers issued $800.0 million in aggregate principal amount of 2030 9.875% Senior Notes at an issue price of 98.563%. The Issuers received net proceeds of approximately $776.0 million from the offering after deducting the initial purchasers’ discount and offering expenses. The Company used the net proceeds, together with cash on hand, to repay outstanding borrowings under PBF Holding’s asset-based revolving credit facility (the “Revolving Credit Facility”) and for general corporate purposes.
The 2030 9.875% Senior Notes are guaranteed on a senior unsecured basis by certain of PBF Holding’s subsidiaries. The 2030 9.875% Senior Notes and guarantees are senior unsecured obligations and rank equal in right of payment with all of the Issuers’ and the Guarantors’ existing and future senior indebtedness, including the Revolving Credit Facility, the Issuers’ outstanding 2028 6.00% Senior Notes and outstanding 2030 7.875% Senior Notes. The 2030 9.875% Senior Notes and the guarantees rank senior in right of payment to the Issuers’ and the Guarantors’ existing and future indebtedness that is expressly subordinated in right of payment thereto. The 2030 9.875% Senior Notes and the guarantees are effectively subordinated to any of the Issuers’ and the Guarantors’ existing or future secured indebtedness (including the Revolving Credit Facility, as amended and restated from time to time) to the extent of the value of the collateral securing such indebtedness. The 2030 9.875% Senior Notes and the guarantees are structurally subordinated to any existing or future indebtedness and other obligations of the Issuers’ subsidiaries that do not guarantee the 2030 9.875% Senior Notes.
In addition, the 2030 9.875% Senior Notes contain customary terms, events of default and covenants for an issuer of non-investment grade debt securities. These covenants include limitations on, among other things, the incurrence of additional indebtedness, equity issuances, payments, and engagement in certain transactions and investments. These covenants are subject to a number of important exceptions and qualifications. Many of these covenants will cease to apply or will be modified following a covenant termination event, including in the event the 2030 9.875% Senior Notes are rated investment grade.
At any time prior to March 15, 2027, the Issuers may on any one or more occasions redeem up to 40% of the aggregate principal amount of the 2030 9.875% Senior Notes in an amount not greater than the net cash proceeds of certain equity offerings at a redemption price equal to 109.875% of the principal amount of the 2030 9.875% Senior Notes, plus any accrued and unpaid interest through the date of redemption; provided that at least 60% of the aggregate principal amount of the 2030 9.875% Senior Notes originally issued under the applicable indenture remains outstanding immediately after the occurrence of each such redemption. On or after March 15, 2027, the Issuers may redeem all or part of the 2030 9.875% Senior Notes, in each case at the redemption prices described in the indenture, together with any accrued and unpaid interest to the date of redemption. In addition, prior to March 15, 2027, the Issuers may redeem all or part of the 2030 9.875% Senior Notes at a “make-whole” redemption price described in the indenture, together with any accrued and unpaid interest to the date of redemption.
Upon a change of control that results in a ratings decline, the Issuers will be required to make an offer to purchase the 2030 9.875% Senior Notes at a purchase price of 101% of the principal amount of the 2030 9.875% Senior Notes on the date of purchase plus accrued interest. Prior to a covenant suspension event, in connection with certain asset dispositions, the Issuers may be required to use the net cash proceeds of the asset disposition (subject to a right to reinvest such net cash proceeds) to make an offer to purchase the 2030 9.875% Senior Notes at a purchase price equal to 100% of the principal amount of the 2030 9.875% Senior Notes, together with any accrued and unpaid interest to the date of purchase.
2028 6.00% Senior Notes
On January 24, 2020, PBF Holding entered into an indenture among the Issuers, the Guarantors, Wilmington Trust, National Association, as Trustee and Deutsche Bank Trust Company Americas, as Paying Agent, Registrar, Transfer Agent and Authenticating Agent, under which the Issuers issued $1.0 billion in aggregate principal amount of the 2028 6.00% Senior Notes. The Issuers received net proceeds of approximately $987.0 million from the offering after deducting the initial purchasers’ discount and offering expenses. The Company primarily used the net proceeds to fully redeem the 7.00% senior unsecured notes due 2023 (the “2023 Senior Notes”), including accrued and unpaid interest, on February 14, 2020, and to fund a portion of the cash consideration for the acquisition of the Martinez refinery and related logistics assets. The difference between the carrying value of the 2023 Senior Notes on the date they were reacquired and the amount for which they were reacquired has been classified as loss on extinguishment of debt in the Consolidated Statements of Operations.
The 2028 6.00% Senior Notes included a registration rights arrangement whereby the Issuer and the Guarantors consummated an offer to exchange the 2028 6.00% Senior Notes for an issue of registered notes with terms substantially identical to the notes during the fourth quarter of 2020. As such, the Company did not have to transfer any consideration as a result of the registration rights agreement and thus no loss contingency was recorded.
The 2028 6.00% Senior Notes are guaranteed on a senior unsecured basis by substantially all of PBF Holding’s subsidiaries. The 2028 6.00% Senior Notes and guarantees are senior unsecured obligations and rank equal in right of payment with all of the Issuers’ and the Guarantors’ existing and future indebtedness, including the Revolving Credit Facility and the 2030 7.875% Senior Notes. The 2028 6.00% Senior Notes and the guarantees rank senior in right of payment to the Issuers’ and the Guarantors’ existing and future indebtedness that is expressly subordinated in right of payment thereto. The 2028 6.00% Senior Notes and the guarantees are effectively subordinated to any of the Issuers’ and the Guarantors’ existing or future secured indebtedness (including the Revolving Credit Facility) to the extent of the value of the collateral securing such indebtedness. The 2028 6.00% Senior Notes and the guarantees are structurally subordinated to any existing or future indebtedness and other obligations of the Issuers’ non-guarantor subsidiaries. In addition, the 2028 6.00% Senior Notes contain customary terms, events of default and covenants for an issuer of non-investment grade debt securities. These covenants include limitations on the incurrence of additional indebtedness, equity issuances, and payments. Many of these covenants will cease to apply or will be modified if the 2028 6.00% Senior Notes are rated investment grade.
Subsequent to February 15, 2023, the Issuers may redeem all or part of the 2028 6.00% Senior Notes, in each case at the redemption prices described in the indenture, together with any accrued and unpaid interest through the date of redemption.
2030 7.875% Senior Notes
On August 21, 2023, PBF Holding entered into an indenture among the Issuers, the Guarantors, Wilmington Trust, National Association, as Trustee and Deutsche Bank Trust Company Americas, as Paying Agent, Registrar, Transfer Agent and Authenticating Agent, under which the Issuers issued $500.0 million in aggregate principal amount of the 2030 7.875% Senior Notes, at an issue price of 99.324%. The Issuers received net proceeds of approximately $488.8 million from the offering after deducting the initial purchasers’ discount and offering expenses. The Company used the net proceeds, together with cash on hand, to fully redeem the outstanding 7.25% senior unsecured notes due 2025, including accrued and unpaid interest, on September 13, 2023.
The 2030 7.875% Senior Notes are guaranteed on a senior unsecured basis by substantially all of PBF Holding’s subsidiaries. The 2030 7.875% Senior Notes and guarantees are senior unsecured obligations and rank equal in right of payment with all of the Issuers’ and the Guarantors’ existing and future senior indebtedness, including the Revolving Credit Facility and the 2028 6.00% Senior Notes. The 2030 7.875% Senior Notes and the guarantees rank senior in right of payment to the Issuers’ and the Guarantors’ existing and future indebtedness that is expressly subordinated in right of payment thereto. The 2030 7.875% Senior Notes and the guarantees are effectively subordinated to any of the Issuers’ and the Guarantors’ existing or future secured indebtedness (including the Revolving Credit Facility) to the extent of the value of the collateral securing such indebtedness. The 2030 7.875% Senior Notes and the guarantees are structurally subordinated to any existing or future indebtedness and other obligations of the Issuers’ non-guarantor subsidiaries.
In addition, the 2030 7.875% Senior Notes contain customary terms, events of default and covenants for an issuer of non-investment grade debt securities. These covenants include limitations on the incurrence of additional indebtedness, equity issuances, and payments. Many of these covenants will cease to apply or will be modified if the 2030 7.875% Senior Notes are rated investment grade.
At any time prior to September 15, 2026, the Issuers may on any one or more occasions redeem up to 35% of the aggregate principal amount of the 2030 7.875% Senior Notes in an amount not greater than the net cash proceeds of certain equity offerings at a redemption price equal to 107.875% of the principal amount of the 2030 7.875% Senior Notes, plus any accrued and unpaid interest through the date of redemption; provided that at least 65% of the aggregate principal amount of the notes originally issued under the indenture governing the 2030 7.875% Senior Notes remains outstanding immediately after the occurrence of each such redemption. On or after September 15, 2026, the Issuers may redeem all or part of the 2030 7.875% Senior Notes, in each case at the redemption prices described in the indenture, together with any accrued and unpaid interest through the date of redemption. In addition, prior to September 15, 2026, the Issuers may redeem all or part of the 2030 7.875% Senior Notes at a “make-whole” redemption price described in the indenture, together with any accrued and unpaid interest through the date of redemption.
PBF Holding Revolving Credit Facility
On August 23, 2023, PBF Holding and certain of its wholly-owned subsidiaries, as borrowers or subsidiary guarantors, entered into an amended and restated asset-based revolving credit agreement, among PBF Holding, Bank of America, National Association as administrative agent, and certain other lenders (the “Revolving Credit Agreement”). The Revolving Credit Agreement amended and restated the previously existing revolving credit agreement dated as of May 2, 2018 (as amended from time to time, the “Prior Credit Agreement”). Among other things, the Revolving Credit Agreement extended the Revolving Credit Facility through August 2028 and increased the maximum commitment amount under the facility to $3.5 billion from $2.85 billion. The commitment fees on the unused portion, the interest rate on advances and the fees for letters of credit are generally consistent with the Prior Credit Agreement. The Revolving Credit Facility contains representations, warranties and covenants by PBF Holding and the other borrowers, as well as customary events of default and indemnification obligations that are consistent with those in the Prior Credit Agreement.
PBF Holding may from time to time by written notice to the Administrative Agent (as defined in the Revolving Credit Agreement) elect to request after the commencement of the revolving availability period and prior to the revolving maturity date, increases to the existing revolving commitments by an amount not in excess of an aggregate amount equal to the sum of (1) $500.0 million, plus (2) an amount equal to all voluntary prepayments that have resulted in permanent reductions of the revolving commitments, plus (3) solely after the use of the amount set forth in clause (1), an amount equal to suppressed availability determined as of the date of such notice. Each such notice shall specify (i) the date on which PBF Holding proposes that the increased or new revolving commitments shall be effective, which shall be a date not less than 5 business days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Eligible Assignee (as defined in the Revolving Credit Agreement) to whom PBF Holding proposes any portion of such increased or new revolving commitments be allocated and the amounts of such allocations; provided that any existing lender approached to provide all or a portion of the increased or new revolving commitments may elect or decline, in its sole discretion, to provide such increased or new revolving commitment.
Borrowings under the Revolving Credit Facility bear interest at the Alternative Base Rate plus the Applicable Margin or at the Term SOFR Rate plus the Applicable Margin (all as defined in the Revolving Credit Agreement). The Applicable Margin ranges from 0.25% to 1.00% for Alternative Base Rate Loans and from 1.25% to 2.00% for Term SOFR Loans, in each case depending on the Company’s corporate credit rating. In addition, the LC Participation Fee ranges from 1.25% to 2.00% depending on the Company’s corporate credit rating and the Fronting Fee is capped at 0.25%.
The Revolving Credit Agreement contains customary covenants and restrictions on the activities of PBF Holding and its subsidiaries, including, but not limited to, limitations on incurring additional indebtedness, liens, negative pledges, guarantees, investments, loans, asset sales, mergers and acquisitions, prepayment of other debt, distributions, dividends and the repurchase of capital stock, transactions with affiliates and the ability of PBF Holding to change the nature of its business or its fiscal year; all as defined in the Revolving Credit Agreement.
In addition, the Revolving Credit Agreement has a financial covenant which requires that if at any time Excess Availability, as defined in the Revolving Credit Agreement, is less than the greater of (i) 10% of the lesser of the then existing Borrowing Base and the then aggregate Revolving Commitments of the Lenders (the “Financial Covenant Testing Amount”), and (ii) $100.0 million, and until such time as Excess Availability is greater than the Financial Covenant Testing Amount and $100.0 million for a period of 12 or more consecutive days, PBF Holding will not permit the Consolidated Fixed Charge Coverage Ratio, as defined in the Revolving Credit Agreement and determined as of the last day of the most recently completed quarter, to be less than 1 to 1.
PBF Holding’s obligations under the Revolving Credit Facility are (a) guaranteed by each of its domestic operating subsidiaries that are not Excluded Subsidiaries (as defined in the Revolving Credit Agreement) and (b) secured by a lien on (i) PBF LLC’s equity interest in PBF Holding and (ii) certain assets of PBF Holding and the subsidiary guarantors, including all deposit accounts (other than zero balance accounts, cash collateral accounts, trust accounts and/or payroll accounts, all of which are excluded from the definition of collateral), all accounts receivable, all hydrocarbon inventory (other than certain inventory owned by third parties under permittable inventory intermediation or similar agreements, as applicable) and to the extent evidencing, governing, securing or otherwise related to the foregoing, all general intangibles, chattel paper, instruments, documents, letter of credit rights and supporting obligations; and all products and proceeds of the foregoing.
The Revolving Credit Agreement also allows the Company to sell certain Eligible Receivables (as defined in the Revolving Credit Agreement) derived from the sale of refined product over truck racks. Under its $200.0 million uncommitted receivables purchase facility (the “Receivables Facility”), the Company sells such receivables to a bank subject to bank approval and certain conditions. The sales of receivables under the Receivables Facility are absolute and irrevocable but subject to certain repurchase obligations under certain circumstances.
There were $100.0 million and $200.0 million outstanding borrowings under the Revolving Credit Facility as of December 31, 2025 and December 31, 2024, respectively. Issued letters of credit were $167.3 million and $128.3 million as of December 31, 2025 and 2024, respectively.
As of December 31, 2025, the Company is in compliance with all covenants, including financial covenants, in all its debt agreements.
Debt Maturities
Debt maturing in the next five years and thereafter is as follows (in millions):
Year Ending December 31,(in millions)
2026$— 
2027— 
2028901.6 
2029— 
20301,300.0 
Thereafter— 
Total debt outstanding$2,201.6 
v3.25.4
RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Investments in PBF LLC
Pursuant to the amended and restated limited liability company agreement of PBF LLC, the holders of PBF LLC Series B Units are entitled to an interest in the amounts received by the investment funds associated with the initial investors in PBF LLC in excess of their original investment in the form of PBF LLC distributions and from the shares of PBF Energy Class A common stock issuable to such investment funds (for their own account and on behalf of the holders of PBF LLC Series B Units) upon an exchange, and the proceeds from the sale of such shares. Such proceeds received by the investment funds associated with the initial investors in PBF LLC are distributed to the holders of the PBF LLC Series B Units in accordance with the distribution percentages specified in the PBF LLC amended and restated limited liability company agreement. There were distributions of $16.2 million and $4.2 million to PBF LLC Series B unitholders for the years ended December 31, 2025 and December 31, 2024. There were no such distributions to PBF LLC Series B unitholders during the year ended and December 31, 2023.
Transactions and agreements with SBR
The Company and its subsidiaries have entered into various agreements with SBR, in which it has a 50% equity investment, but does not control. In connection with the commencement of operations at SBR, the Company has provided limited financial performance guarantees to certain of SBR’s third-party suppliers for various commercial transactions, primarily for the purchase of feedstock inventory. Although the Company does not currently expect to perform under such guarantees, it is entitled to certain indemnification protections from Eni in the event that it is required to perform.
Commercial Agreements
PBF Holding has entered into commercial agreements with SBR for the purchase and sale of RINs and Low Carbon Fuel Standard (“LCFS”) credits. The Agreement for the Sale and Purchase of Renewable Identification Numbers was initiated on June 1, 2023, and the Leadership for Energy Automated Processing Master Agreement for Purchasing and Selling of LCFS credits was initiated on August 1, 2023. Both agreements had initial terms of three months. Upon the expiration of the initial terms, both agreements have been, and may continue to be, automatically renewed for successive three-month periods, unless earlier terminated by the Company or SBR via written notice at least two months in advance of expiration.
Operating Agreement
The Company entered into an operation and management services and secondment agreement (the “Operating Agreement”) with SBR in June 2023, pursuant to which the Company provides SBR with the personnel necessary for SBR to operate so that it may perform its obligations under the commercial agreements. The Company charges SBR a fixed operating fee under the agreement and SBR reimburses the Company for the use of employees and the provision of certain infrastructure-related services to the extent applicable to its operations.
Other Agreements
In addition to the agreements described above, the Company entered into an omnibus agreement with SBR for the provision of executive management services and support for accounting and finance, legal, human resources, information technology, environmental, health and safety, and other administrative functions (the “Omnibus Agreement”). Pursuant to the Omnibus Agreement, the Company charges SBR a fixed administrative fee and SBR reimburses the Company for the services utilized. Furthermore, the Company entered into a common asset use and servitude agreement (the “CAUSA”) with SBR, pursuant to which the Company provides Chalmette Refining and SBR certain services with certain common use assets utilized. The cost of operations and maintenance for the common use assets is allocated between Chalmette Refining and SBR. Additionally, from time to time, the Company enters into short-term lease agreements for the use of marine vessels currently leased by SBR. Since these lease terms are less than one year, they are not recorded on the Company’s Consolidated Balance Sheet.
Summary of Transactions with SBR
A summary of the Company’s related party transactions with SBR is as follows:
Year Ended December 31,
(in millions)202520242023
Transactions under commercial agreements:
Sales $55.8 $39.7 $9.1 
Purchases(430.7)(323.5)(244.4)
Reimbursements under related party agreements:
Operating Agreement 136.2 163.7 62.8 
Omnibus Agreement4.0 4.1 — 
CAUSA 7.7 6.6 — 
Total lease expense under related party agreements(8.1)(4.1)— 
Total sales, consisting of refined product sales, and purchases, primarily related to environmental credit and hydrocarbon purchases, under the commercial agreements with SBR are included within Revenues and Cost of products and other, respectively, on the Company’s Consolidated Statements of Operations.
Additionally, the Consolidated Balance Sheets include $44.1 million and $39.4 million recorded within Accounts receivable and Accrued expenses, respectively, related to transactions with SBR as of December 31, 2025 ($18.7 million and $47.8 million, respectively, as of December 31, 2024).
SBR Loan
Contributions made to equity method investees at times are in the form of loan agreements. Loans provided to equity method investees that are made based on the Company’s proportionate ownership percentage are accounted for as “in-substance capital contributions” and are treated as an increase to the investment. Principal and interest payments received on loans treated as in-substance capital contributions are assessed under the cumulative earnings approach to determine if the distribution received represents a return on capital or a return of capital. Return on capital distributions are recorded as an operating cash flow whereas return of capital distributions are recorded as an investing cash flow.
SBR Term Loan
PBF Holding has agreed to provide a limited guaranty in connection with a $100.0 million term loan originally entered into by SBR and its wholly owned subsidiary, SBR Marketing LLC (“SBR Marketing”), in April 2025. Under the guaranty and subject to the terms and conditions set forth therein, PBF Holding is guaranteeing SBR and SBR Marketing’s certain payment and performance obligations under the term loan, with the guaranty capped at 50% of such obligations, commensurate with the Company’s 50% equity interest in SBR. The Company currently believes that the likelihood of performance under this guaranty is remote.
v3.25.4
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Other Commitments
In addition to commitments related to lease obligations accounted for in accordance with Accounting Standards Codification (“ASC”) 842, Leases and disclosed in “Note 12 - Leases”, the Company is party to agreements which provide for the treatment of wastewater and the supply of hydrogen, nitrogen, oxygen, chemical and steam for certain of its refineries. The Company made purchases of $139.0 million, $118.9 million and $121.4 million under these supply agreements for the years ended December 31, 2025, 2024 and 2023, respectively.
The fixed and determinable amounts related to obligations under these agreements are as follows (in millions):
Year Ending December 31,
2026$92.0 
202745.9 
202842.2 
202940.4 
203040.0 
Thereafter272.8 
Total obligations$533.3 
Employment Agreements
The Company has entered into various employment agreements with members of executive management and certain other key personnel that include automatic annual renewals, unless canceled. Under some of the agreements, certain of the executives would receive a lump sum payment of between 1.50 to 2.99 times their base salary and continuation of certain employee benefits for the same period upon termination by the Company “Without Cause”, or by the employee “For Good Reason”, or upon a “Change in Control”, as defined in the agreements. Upon death or disability, certain of the Company’s executives, or their estates, would receive a lump sum payment of at least one half of their base salary.
Environmental Matters
The Company’s refineries, pipelines and related operations are subject to extensive and frequently changing federal, state and local laws and regulations, including, but not limited to, those relating to the discharge of materials into the environment or that otherwise relate to the protection of the environment (including in response to the potential impacts of climate change), waste management and the characteristics and the compositions of fuels. Compliance with existing and anticipated laws and regulations can increase the overall cost of operating the refineries, including remediation, operating costs, and capital costs to construct, maintain and upgrade equipment and facilities.
These laws and regulations raise potential exposure to future claims and lawsuits involving environmental and safety matters which could include soil and water contamination, air pollution, personal injury and property damage allegedly caused by substances which the Company manufactured, handled, used, released, or disposed of, transported, or that relate to pre-existing conditions for which the Company has assumed responsibility. The Company believes that its current operations are in compliance with existing environmental and safety requirements. However, there have been and will continue to be ongoing discussions about environmental and safety matters between the Company and federal, state and local authorities, including notices of violations, citations and other enforcement actions, some of which have resulted or may result in changes to operating procedures and in capital expenditures. While it is often difficult to quantify future environmental or safety related expenditures, the Company anticipates that continuing capital investments and changes in operating procedures will be required for the foreseeable future to comply with existing and new requirements, as well as evolving interpretations and more strict enforcement of existing laws and regulations.
In connection with the acquisition of the Torrance refinery and related logistics assets, the Company assumed certain pre-existing environmental liabilities. The estimated costs related to these remediation obligations totaled $108.6 million as of December 31, 2025 ($110.6 million as of December 31, 2024) and related primarily to remediation obligations to address existing soil and groundwater contamination and the related monitoring and clean-up activities. Costs related to these obligations are reassessed periodically or when changes to the Company’s remediation approach are identified. The current portion of the environmental liability is recorded in Accrued expenses and the non-current portion is recorded in Other long-term liabilities.
The aggregate environmental liability reflected on the Company’s Consolidated Balance Sheets was $150.8 million and $152.1 million at December 31, 2025 and December 31, 2024, respectively, of which $141.1 million and $142.4 million, respectively, were classified as Other long-term liabilities. These liabilities include remediation and monitoring costs expected to be incurred over an extended period of time. Estimated liabilities could increase in the future when the results of ongoing investigations become known, are considered probable and can be reasonably estimated.
Applicable Federal and State Regulatory Requirements
The Company’s operations and many of the products it manufactures are subject to certain specific requirements of the Clean Air Act (the “CAA”) and related state and local regulations. The CAA contains provisions that require capital expenditures for the installation of certain air pollution control devices at the Company’s refineries. Subsequent rule making authorized by the CAA or similar laws or new agency interpretations of existing rules, may necessitate additional expenditures in future years.
The Company is required to comply with the RFS. Pursuant to the Energy Policy Act of 2005 and the Energy Independence and Security Act of 2007, the EPA has issued the RFS, implementing mandates to blend renewable fuels into the petroleum fuels produced and sold in the United States. Under the RFS, the volume of renewable fuels that obligated refineries must blend into their finished petroleum fuels historically has increased on an annual basis. In addition, certain states have passed legislation that requires minimum biodiesel blending in finished distillates. On October 13, 2010, the EPA raised the maximum amount of ethanol allowed under federal law from 10% to 15% for cars and light trucks manufactured since 2007. The maximum amount allowed under federal law currently remains at 10% ethanol for all other vehicles. Existing laws and regulations could change, and the minimum volumes of renewable fuels that must be blended with refined petroleum fuels may increase. Because we do not directly produce renewable fuels, increasing the volume of renewable fuels that must be blended into our products could displace an increasing volume of our refinery’s product pool, potentially resulting in lower earnings and profitability. In addition, in order to meet certain of these and future EPA requirements, we may be required to purchase RINs, which may have fluctuating costs based on market conditions. Our RINs purchase obligation is dependent on our actual shipment of on-road transportation fuels domestically and the amount of blending achieved which can cause variability in our profitability.
On June 21, 2023, the EPA finalized the volumes of renewable fuels that obligated refineries must blend into their final petroleum fuels for years 2023, 2024, and 2025, and finalized volume requirements and percentage standards under the RFS program for 2023, 2024, and 2025. In June 2025, the EPA proposed volume requirements and percentage standards under the RFS program for 2026 and 2027, as well as making a series of important modifications to strengthen and expand the RFS program. As a result, the Company could also experience fluctuating compliance costs in the future as the EPA continues to adjust the volume requirements and potentially enacts further changes to the program.
The EPA published a Final Rule to the Clean Water Act Section 316(b) in August 2014 regarding cooling water intake structures, which includes requirements for petroleum refineries. The purpose of this rule is to prevent fish from being trapped against cooling water intake screens (impingement) and to prevent fish from being drawn through cooling water systems (entrainment). Facilities will be required to implement best technology available as soon as possible, but state agencies have the discretion to establish implementation time lines. The Company has evaluated, and continues to evaluate, the impact of this regulation, and at this time does not expect this regulation to materially impact the Company’s financial position, results of operations or cash flows.
The Company is subject to GHG emission control regulations in the state of California pursuant to AB 32. AB 32 imposes a statewide cap on GHG emissions, including emissions from transportation fuels, with the aim of returning the state to 1990 emission levels by 2020. AB 32 is implemented through two market mechanisms including the LCFS and Cap and Trade. The Company is responsible for the AB 32 obligations related to the Torrance refinery beginning on July 1, 2016 and the Martinez refinery beginning on February 1, 2020 and must purchase emission credits to comply with these obligations. Additionally, in September 2016, the state of California enacted Senate Bill 32 (“SB 32”) which further reduces GHG emissions targets to 40 percent below 1990 levels by 2030. In 2022, California enacted Assembly Bill 1279 which requires the state to achieve a GHG reduction target of 85 percent below 1990 levels by 2045 and overall carbon neutrality by 2045. The California Air Resources Board also amended the LCFS in 2024, which requires a 30 percent reduction by 2030 and 90 percent reduction by 2045 in the carbon intensity of transportation fuels (compared to a 2010 baseline).
The Company recovers the majority of these costs from its customers, and does not expect these obligations to materially impact the Company’s financial position, results of operations, or cash flows. To the degree there are unfavorable changes to AB 32 or SB 32 regulations, or the Company is unable to recover such compliance costs from customers, these regulations could have a material adverse effect on our financial position, results of operations and cash flows.
As of January 1, 2011, the Company is required to comply with the EPA’s Control of Hazardous Air Pollutants From Mobile Sources, or MSAT2, regulations on gasoline that impose reductions in the benzene content of its produced gasoline. In addition, the RFS mandates the blending of prescribed percentages of renewable fuels (e.g., ethanol and biofuels) into the Company’s produced gasoline and diesel. These requirements, other requirements of the CAA and other presently existing or future environmental regulations may cause the Company to implement capital projects to reduce the amount of credits required to be purchased, make substantial capital expenditures as well as purchase credits at significant cost, to enable its refineries to produce products that meet applicable requirements.
The federal Comprehensive Environmental Response, Compensation and Liability Act of 1980 (“CERCLA”), also known as “Superfund,” imposes liability, without regard to fault or the legality of the original conduct, on certain classes of persons who are considered to be responsible for the release of a “hazardous substance” into the environment. These persons include the current or former owner or operator of the disposal site or sites where the release occurred and companies that disposed of or arranged for the disposal of the hazardous substances. Under CERCLA, such persons may be subject to joint and several liability for investigation and the costs of cleaning up the hazardous substances that have been released into the environment, for damages to natural resources and for the costs of certain health studies. As discussed more fully above, certain of the Company’s sites are subject to these laws and the Company may be held liable for investigation and remediation costs or claims for natural resource damages. It is not uncommon for neighboring landowners and other third parties to file claims for personal injury and property damage allegedly caused by hazardous substances or other pollutants released into the environment. Analogous state laws impose similar responsibilities and liabilities on responsible parties. In the Company’s current normal operations, it has generated waste, some of which falls within the statutory definition of a “hazardous substance” and some of which may have been disposed of at sites that may require cleanup under Superfund.
The Company is also currently subject to certain other existing environmental claims and proceedings. The Company believes that it is unlikely that future costs related to any of these other known contingent liability exposures would have a material impact on its financial position, results of operations or cash flows.
Contingent Consideration
In connection with the acquisition of the Martinez refinery and related logistics assets, the sale and purchase agreement dated June 11, 2019 included an earn-out provision based on certain earnings thresholds of the Martinez refinery. Pursuant to the agreement, the Company was to make payments to Equilon Enterprises LLC d/b/a Shell Oil Products US, based on future earnings at the Martinez refinery in excess of certain thresholds, as defined in the agreement, for a period of up to four years following the acquisition closing date (the “Martinez Contingent Consideration”). The final payment of $18.8 million was paid in full during the second quarter of 2024. The fair value of the Martinez Contingent Consideration was estimated to be $21.6 million as of December 31, 2023 and was included within Accrued expenses.
Tax Receivable Agreement
PBF Energy entered into the Tax Receivable Agreement that provides for the payment by PBF Energy to such persons of an amount equal to 85% of the amount of the benefits, if any, that PBF Energy is deemed to realize as a result of (i) increases in tax basis, as described below, and (ii) certain other tax benefits related to entering into the Tax Receivable Agreement, including tax benefits attributable to payments under the Tax Receivable Agreement. For purposes of the Tax Receivable Agreement, the benefits deemed realized by PBF Energy will be computed by comparing the actual income tax liability of PBF Energy (calculated with certain assumptions) to the amount of such taxes that PBF Energy would have been required to pay had there been no increase to the tax basis of the assets of PBF LLC as a result of purchases or exchanges of PBF LLC Series A Units for shares of PBF Energy Class A common stock and had PBF Energy not entered into the Tax Receivable Agreement. The term of the Tax Receivable Agreement will continue until all such tax benefits have been utilized or expired unless: (i) PBF Energy exercises its right to terminate the Tax Receivable Agreement, (ii) PBF Energy breaches any of its material obligations under the Tax Receivable Agreement or (iii) certain changes of control occur, in which case all obligations under the Tax Receivable Agreement will generally be accelerated and due as calculated under certain assumptions.
The payment obligations under the Tax Receivable Agreement are obligations of PBF Energy and not of any of its subsidiaries. In general, PBF Energy expects to obtain funding for these annual payments from PBF LLC, primarily through tax distributions, which PBF LLC makes on a pro-rata basis to its owners. Such owners include PBF Energy, which holds a 99.3% interest in PBF LLC as of both December 31, 2025 and December 31, 2024. PBF LLC generally obtains funding to pay its tax distributions by causing PBF Holding to distribute cash to PBF LLC and from distributions it receives from PBFX.
As of December 31, 2025, the Company recognized a liability of $168.2 million related to the Tax Receivable Agreement obligation. As of December 31, 2024 PBF Energy recognized a liability of $293.6 million, of which $125.4 million was recorded as a Current liability. In January 2025, the Company made payments under the Tax Receivable Agreement relating to the 2023 tax year of $130.8 million, inclusive of interest of $5.4 million. In January 2024, the Company made payments under the Tax Receivable Agreement relating to the 2022 tax year of $43.0 million. These liabilities reflect the estimate of the undiscounted amounts that PBF Energy expects to pay under the agreement, net of the impact of any deferred tax asset valuation allowance recognized in accordance with ASC 740, Income Taxes. As future taxable income is recognized, increases in PBF Energy’s Tax Receivable Agreement liability may be necessary in conjunction with the revaluation of deferred tax assets. Refer to “Note 18 - Income Taxes” for more details.
Legal Matters
On November 24, 2022, the Martinez refinery, owned and operated by MRC, experienced a catalyst release that is currently being investigated by the BAAD, CCC, the DOJ, the USAO, the EPA, and the California Department of Fish and Wildlife (“CDFW”). To date, the BAAD has issued 35 notices of violations (“NOVs”), CCC has issued two NOVs, and the CDFW has made findings relating to the catalyst incident. On July 11, 2023 and October 6, 2023, the Martinez refinery experienced unintentional releases of petroleum coke dust and received inquiries or notices of investigation from the BAAD, the CalOSHA, CCC, and the EPA. The BAAD also issued NOVs relating to the July 11, 2023 coke dust incident and NOVs relating to the October 6, 2023 coke dust incident. On December 15, 2023, the Martinez refinery experienced an unexpected flaring incident, and subsequently on December 18, 2023 a brush fire incident, and has received inquiries or notices of investigation from the BAAD, the CalOSHA, and CCC. The BAAD additionally issued NOVs relating to the December 15, 2023 flaring incident and NOVs relating to the December 18, 2023 brush fire incident. The CDFW, CCC, and the BAAD have referred their findings and/or NOVs to the CCC District Attorney for the catalyst incident and various other incidents. On November 16, 2023, the CCC District Attorney and the BAAD announced a joint civil enforcement action against MRC that will include enforcement of the BAAD’s, CCC’s, and the CDFW’s claims from the catalyst incident, as well as additional enforcement claims from various incidents. The Company is engaged in settlement discussions with the CCC District Attorney and the BAAD but no definitive penalties have been assessed to date by the various agencies. The Company presently believes the outcomes will not have a material impact on its financial position, results of operations, or cash flows.
v3.25.4
LEASES (Notes)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASES LEASES
Lease Position as of December 31, 2025 and December 31, 2024
The table below presents the lease related assets and liabilities recorded on the Company’s Consolidated Balance Sheets as of December 31, 2025 and December 31, 2024:
(in millions)Classification on the Balance SheetDecember 31, 2025December 31, 2024
Assets
Operating lease assetsLease right of use assets$725.7 $802.4 
Finance lease assetsLease right of use assets34.0 42.9 
Total lease right of use assets$759.7 $845.3 
Liabilities
Current liabilities:
Operating lease liabilitiesCurrent operating lease liabilities$184.4 $187.8 
Finance lease liabilitiesAccrued expenses12.2 11.2 
Noncurrent liabilities:
Operating lease liabilitiesLong-term operating lease liabilities543.0 622.2 
Finance lease liabilitiesLong-term financing lease liabilities25.8 35.4 
Total lease liabilities$765.4 $856.6 
Lease Costs
The table below presents certain information related to costs for the Company’s leases for the year ended December 31, 2025 and December 31, 2024:
Lease Costs (in millions)
December 31,
2025		December 31,
2024
Components of total lease costs:
Finance lease costs
Amortization of right of use assets$11.4 $14.0 
Interest on lease liabilities2.9 3.6 
Operating lease costs321.7 289.6 
Short-term lease costs69.7 78.7 
Variable lease costs39.2 27.0 
Sub-lease income(2.9)(3.0)
Total lease costs$442.0 $409.9 
Other Information
The table below presents supplemental cash flow information related to leases for the year ended December 31, 2025 and December 31, 2024 (in millions):
Years Ended December 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$327.4 $289.1 
Operating cash flows for finance leases2.9 3.6 
Financing cash flows for finance leases11.2 12.2 
Supplemental non-cash quantification of assets acquired or remeasured under operating and financing leases156.2 288.6 
Lease Term and Discount Rate
The table below presents certain information related to the weighted average remaining lease term and weighted average discount rate for the Company’s leases as of December 31, 2025:
Weighted average remaining lease term - operating leases8.8 years
Weighted average remaining lease term - finance leases2.9 years
Weighted average discount rate - operating leases13.9 %
Weighted average discount rate - finance leases7.2 %
Undiscounted Cash Flows
The table below reconciles the fixed component of the undiscounted cash flows for each of the periods presented to the lease liabilities recorded on the Consolidated Balance Sheets as of December 31, 2025:
Amounts due in the year ended December 31, (in millions)
Finance LeasesOperating Leases
2026$14.5 $268.7 
202714.5 147.5 
202811.8 113.2 
20291.4 98.7 
2030— 96.3 
Thereafter— 532.6 
Total minimum lease payments42.2 1,257.0 
Less: effect of discounting4.2 529.6 
Present value of future minimum lease payments38.0 727.4 
Less: current obligations under leases12.2 184.4 
Long-term lease obligations$25.8 $543.0 
As of December 31, 2025, the Company has entered into certain leases that have not yet commenced. No such pending leases, either individually or in the aggregate, are material. There are no material lease arrangements in which the Company is the lessor.
LEASES LEASES
Lease Position as of December 31, 2025 and December 31, 2024
The table below presents the lease related assets and liabilities recorded on the Company’s Consolidated Balance Sheets as of December 31, 2025 and December 31, 2024:
(in millions)Classification on the Balance SheetDecember 31, 2025December 31, 2024
Assets
Operating lease assetsLease right of use assets$725.7 $802.4 
Finance lease assetsLease right of use assets34.0 42.9 
Total lease right of use assets$759.7 $845.3 
Liabilities
Current liabilities:
Operating lease liabilitiesCurrent operating lease liabilities$184.4 $187.8 
Finance lease liabilitiesAccrued expenses12.2 11.2 
Noncurrent liabilities:
Operating lease liabilitiesLong-term operating lease liabilities543.0 622.2 
Finance lease liabilitiesLong-term financing lease liabilities25.8 35.4 
Total lease liabilities$765.4 $856.6 
Lease Costs
The table below presents certain information related to costs for the Company’s leases for the year ended December 31, 2025 and December 31, 2024:
Lease Costs (in millions)
December 31,
2025		December 31,
2024
Components of total lease costs:
Finance lease costs
Amortization of right of use assets$11.4 $14.0 
Interest on lease liabilities2.9 3.6 
Operating lease costs321.7 289.6 
Short-term lease costs69.7 78.7 
Variable lease costs39.2 27.0 
Sub-lease income(2.9)(3.0)
Total lease costs$442.0 $409.9 
Other Information
The table below presents supplemental cash flow information related to leases for the year ended December 31, 2025 and December 31, 2024 (in millions):
Years Ended December 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$327.4 $289.1 
Operating cash flows for finance leases2.9 3.6 
Financing cash flows for finance leases11.2 12.2 
Supplemental non-cash quantification of assets acquired or remeasured under operating and financing leases156.2 288.6 
Lease Term and Discount Rate
The table below presents certain information related to the weighted average remaining lease term and weighted average discount rate for the Company’s leases as of December 31, 2025:
Weighted average remaining lease term - operating leases8.8 years
Weighted average remaining lease term - finance leases2.9 years
Weighted average discount rate - operating leases13.9 %
Weighted average discount rate - finance leases7.2 %
Undiscounted Cash Flows
The table below reconciles the fixed component of the undiscounted cash flows for each of the periods presented to the lease liabilities recorded on the Consolidated Balance Sheets as of December 31, 2025:
Amounts due in the year ended December 31, (in millions)
Finance LeasesOperating Leases
2026$14.5 $268.7 
202714.5 147.5 
202811.8 113.2 
20291.4 98.7 
2030— 96.3 
Thereafter— 532.6 
Total minimum lease payments42.2 1,257.0 
Less: effect of discounting4.2 529.6 
Present value of future minimum lease payments38.0 727.4 
Less: current obligations under leases12.2 184.4 
Long-term lease obligations$25.8 $543.0 
As of December 31, 2025, the Company has entered into certain leases that have not yet commenced. No such pending leases, either individually or in the aggregate, are material. There are no material lease arrangements in which the Company is the lessor.
v3.25.4
STOCKHOLDERS' AND MEMBERS' EQUITY STRUCTURE
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
STOCKHOLDERS’ AND MEMBERS’ EQUITY STRUCTURE STOCKHOLDERS’ AND MEMBERS’ EQUITY STRUCTURE
Capital Structure
Class A Common Stock
Holders of Class A common stock are entitled to receive dividends when and if declared by the Board of Directors out of funds legally available therefore, subject to any statutory or contractual restrictions on the payment of dividends and to any restrictions on the payment of dividends imposed by the terms of any outstanding preferred stock. Upon the Company’s dissolution or liquidation or the sale of all or substantially all of the assets, after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences, if any, the holders of shares of Class A common stock will be entitled to receive pro rata remaining assets available for distribution. Holders of shares of Class A common stock do not have preemptive, subscription, redemption or conversion rights.
Class B Common Stock
Holders of shares of Class B common stock are entitled, without regard to the number of shares of Class B common stock held by such holder, to one vote for each PBF LLC Series A Unit beneficially owned by such holder. Accordingly, the members of PBF LLC other than PBF Energy collectively have a number of votes in PBF Energy that is equal to the aggregate number of PBF LLC Series A Units that they hold.
Holders of shares of Class A common stock and Class B common stock vote together as a single class on all matters presented to stockholders for their vote or approval, except as otherwise required by applicable law.
Holders of Class B common stock do not have any right to receive dividends or to receive a distribution upon a liquidation or winding up of PBF Energy.
Preferred Stock
Authorized preferred stock may be issued in one or more series, with designations, powers and preferences as shall be designated by the Board of Directors.
PBF LLC Capital Structure
PBF LLC Series A Units
The allocation of profits and losses and distributions to PBF LLC Series A unitholders is governed by the limited liability company agreement of PBF LLC. These allocations are made on a pro rata basis with PBF LLC Series C Units. PBF LLC Series A unitholders do not have voting rights.
PBF LLC Series B Units
The PBF LLC Series B Units are intended to be “profit interests” within the meaning of Revenue Procedures 93-27 and 2001-43 of the Internal Revenue Service (“IRS”) and have a stated value of zero at issuance. The PBF LLC Series B Units are held by certain of the Company’s current and former officers, have no voting rights and are designed to increase in value only after the Company’s financial sponsors achieve certain levels of return on their investment in PBF LLC Series A Units. Accordingly, the amounts paid to the holders of PBF LLC Series B Units, if any, will reduce only the amounts otherwise payable to the PBF LLC Series A Units held by the Company’s financial sponsors, and will not reduce or otherwise impact any amounts payable to PBF Energy (the holder of PBF LLC Series C Units), the holders of the Company’s Class A common stock or any other holder of PBF LLC Series A Units. The maximum number of PBF LLC Series B Units authorized to be issued is 1,000,000.
PBF LLC Series C Units
The PBF LLC Series C Units rank on a parity with the PBF LLC Series A Units as to distribution rights, voting rights and rights upon liquidation, winding up or dissolution. PBF LLC Series C Units are held solely by PBF Energy.
Treasury Stock
The Company’s Board of Directors has authorized the repurchase of PBF Energy's Class A common stock (as amended from time to time, the “Repurchase Program”). The Repurchase Program currently allows for share repurchases of up to $1.75 billion and does not have an expiration date. During the year ended December 31, 2025, the Company did not purchased any shares of PBF Energy’s Class A common stock under the Repurchase Program. During the year ended December 31, 2024, the Company purchased 7,554,269 shares of PBF Energy’s Class A common stock under the Repurchase Program for $329.1 million, inclusive of commissions paid, through open market transactions.
Treasury stock repurchases can be made from time to time through various methods, including open market transactions, block trades, accelerated share repurchases, privately negotiated transactions or otherwise, certain of which could be effected through Rule 10b5-1 plans. The timing and number of shares repurchased depends on a variety of factors, including price, capital availability, legal requirements, and economic and market conditions. The Company is not obligated to purchase any shares under the Repurchase Program, and repurchases could be suspended or discontinued at any time without prior notice.
The Company records PBF Energy Class A common stock surrendered to cover income tax withholdings for certain directors and employees and others pursuant to the vesting of certain awards under the Company’s equity-based compensation plans as treasury shares.
v3.25.4
NONCONTROLLING INTERESTS
 12 Months Ended
Dec. 31, 2025
Noncontrolling Interest [Abstract]  
NONCONTROLLING INTERESTS NONCONTROLLING INTERESTS
Noncontrolling Interest in PBF LLC
PBF Energy is the sole managing member of, and has a controlling interest in, PBF LLC. As the sole managing member of PBF LLC, PBF Energy operates and controls all of the business and affairs of PBF LLC and its subsidiaries. PBF Energy’s equity interest in PBF LLC was approximately 99.3% as of December 31, 2025 and 2024.
PBF Energy consolidates the financial results of PBF LLC and its subsidiaries, and records a noncontrolling interest for the economic interest in PBF Energy held by the members of PBF LLC other than PBF Energy. Noncontrolling interest on the Consolidated Statements of Operations includes the portion of net income or loss attributable to the economic interest in PBF Energy held by the members of PBF LLC other than PBF Energy. Noncontrolling interest on the Consolidated Balance Sheets reflects the portion of net assets of PBF Energy attributable to the members of PBF LLC other than PBF Energy.
The noncontrolling interest ownership percentages in PBF LLC as of the years ended December 31, 2025, 2024 and 2023 are calculated as follows:
Holders of
PBF LLC Series
A Units		Outstanding Shares
of PBF Energy
Class A
Common
Stock		Total
December 31, 2023862,780120,440,620121,303,400
0.7%99.3%100.0%
December 31, 2024862,780115,311,992116,174,772
0.7%99.3%100.0%
December 31, 2025862,780116,937,076117,799,856
0.7%99.3%100.0%
Noncontrolling Interest in PBF Holding
In connection with the acquisition of the Chalmette refinery, PBF Holding records noncontrolling interest in two subsidiaries of Chalmette Refining. PBF Holding, through Chalmette Refining, owns an 80% ownership interest in both Collins Pipeline Company and T&M Terminal Company.
Changes in Equity and Noncontrolling Interests
The following tables summarize the changes in equity for the controlling and noncontrolling interests of PBF Energy for the years ended December 31, 2025, 2024 and 2023:
(in millions)
PBF Energy
Inc. Equity		Noncontrolling
Interest in PBF LLC		Noncontrolling Interest in PBF HoldingTotal Equity
Balance at January 1, 2025$5,544.2 $121.7 $12.7 $5,678.6 
Comprehensive income (loss)
(140.7)(2.1)0.1 (142.7)
Dividends and distributions(127.8)(0.8)— (128.6)
Stock-based compensation expense41.0 — — 41.0 
Transactions in connection with stock-based compensation plans17.6 — — 17.6 
Treasury stock purchases(14.8)— — (14.8)
Other— (1.2)— (1.2)
Balance at December 31, 2025$5,319.5 $117.6 $12.8 $5,449.9 
(in millions)
PBF Energy
Inc. Equity		Noncontrolling
Interest in PBF LLC		Noncontrolling Interest in PBF HoldingTotal Equity
Balance at January 1, 2024$6,488.3 $129.9 $13.1 $6,631.3 
Comprehensive income (loss)
(529.5)(6.0)(0.4)(535.9)
Dividends and distributions(119.9)(1.6)— (121.5)
Effects of change in deferred tax assets and liabilities and tax receivable agreement obligation(0.6)— — (0.6)
Stock-based compensation expense35.2 — — 35.2 
Transactions in connection with stock-based compensation plans24.7 — — 24.7 
Exchanges of PBF Energy Company LLC Series A Units for PBF Energy Class A common stock0.6 (0.6)— — 
Treasury stock purchases(354.6)— — (354.6)
Balance at December 31, 2024$5,544.2 $121.7 $12.7 $5,678.6 
(in millions)
PBF Energy
Inc. Equity		Noncontrolling
Interest in PBF LLC		Noncontrolling Interest in PBF HoldingTotal Equity
Balance at January 1, 2023$4,929.2 $114.6 $12.2 $5,056.0 
Comprehensive income
2,129.7 20.6 0.9 2,151.2 
Dividends and distributions(106.6)(5.3)— (111.9)
Effects of change in deferred tax assets and liabilities and tax receivable agreement obligation(4.5)— — (4.5)
Stock-based compensation expense35.8 — — 35.8 
Transactions in connection with stock-based compensation plans44.5 — — 44.5 
Treasury stock purchases(539.9)— — (539.9)
Other0.1 — — 0.1 
Balance at December 31, 2023$6,488.3 $129.9 $13.1 $6,631.3 
Comprehensive Income (Loss)
Comprehensive income (loss) includes net income (loss) and other comprehensive income (loss) arising from activity related to the Company’s defined employee benefit plan and unrealized gain (loss) on available-for-sale securities. The following table summarizes the allocation of total comprehensive income (loss) of PBF Energy between the controlling and noncontrolling interests for the year ended December 31, 2025:
(in millions)
Attributable to
PBF Energy Inc. stockholders		Noncontrolling
Interests		Total
Net income (loss)$(158.5)$(2.0)$(160.5)
Other comprehensive income:
Unrealized gain on available for sale securities1.3 — 1.3 
Amortization of defined benefit plans unrecognized net gain16.5 — 16.5 
Total other comprehensive income17.8 — 17.8 
Total comprehensive income (loss)$(140.7)$(2.0)$(142.7)
The following table summarizes the allocation of total comprehensive income (loss) of PBF Energy between the controlling and noncontrolling interests for the year ended December 31, 2024:
(in millions)
Attributable to
PBF Energy Inc. stockholders		Noncontrolling
Interest		Total
Net income (loss)$(533.8)$(6.4)$(540.2)
Other comprehensive income (loss):
Unrealized loss on available for sale securities(0.3)— (0.3)
Amortization of defined benefit plans unrecognized net gain4.6 — 4.6 
Total other comprehensive income4.3 — 4.3 
Total comprehensive income (loss)$(529.5)$(6.4)$(535.9)
The following table summarizes the allocation of total comprehensive income of PBF Energy between the controlling and noncontrolling interests for the year ended December 31, 2023:
(in millions)
Attributable to
PBF Energy Inc. stockholders		Noncontrolling
Interest		Total
Net income$2,140.5 $21.5 $2,162.0 
Other comprehensive income (loss):
Unrealized loss on available for sale securities(0.4)— (0.4)
Amortization of defined benefit plans unrecognized net loss(10.4)— (10.4)
Total other comprehensive income (loss)(10.8)— (10.8)
Total comprehensive income$2,129.7 $21.5 $2,151.2 
v3.25.4
STOCK-BASED COMPENSATION
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company grants awards of PBF Energy Class A common stock under its equity incentive plans which authorize the granting of various stock and stock-related awards to directors, employees, prospective employees and non-employees. Awards include non-qualified or incentive stock options, stock appreciation rights, stock awards (including restricted stock) and phantom unit awards, cash awards and performance awards that vest over a period determined by the plans.
Stock-based compensation expense included in general and administrative expenses consisted of the following:
 Years Ended December 31,
(in millions)202520242023
PBF Energy options$0.0 $4.5 $11.9 
PBF Energy restricted shares31.4 21.7 17.9 
PBF Energy performance awards7.6 18.1 21.7 
Total stock-based compensation expense$39.0 $44.3 $51.5 
PBF Energy options
PBF Energy grants stock options which represent the right to purchase share of the Company’s common stock at its fair market value, which is the closing price of PBF Energy’s common stock on the date of grant. Stock options have a maximum term of ten years from the date they are granted, and vest over a requisite service period of three years, subject to acceleration in certain circumstances. The Company has not issued stock options since the year ended December 31, 2022. The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock options granted, which requires the input of subjective assumptions.
The following table summarizes activity for PBF Energy options for 2025:
Number of
PBF Energy
Class A
Common
Stock Options		Weighted
Average
Exercise Price		Weighted
Average
Remaining
Contractual
Life
(in years)
Stock-based awards, outstanding at January 1, 20256,430,875 $24.36 4.18
Exercised(983,802)23.22 — 
Forfeited(63,990)29.32 — 
Outstanding at December 31, 20255,383,083 $24.51 3.10
Exercisable and vested at December 31, 20255,383,083 $24.51 3.10
Total expected to vest as of December 31, 2025— $— — 
At December 31, 2025, the total intrinsic value of stock options outstanding and exercisable were $34.4 million and $34.4 million, respectively. The total intrinsic value of stock options exercised during the years ended December 31, 2025, 2024 and 2023 was $10.3 million, $30.3 million and $66.1 million, respectively.
There is no unrecognized compensation expense related to PBF Energy options at December 31, 2025.
Restricted Stock Awards
The Company grants restricted stock to employees and non-employee directors. Restricted stock granted to our employees generally vests over a requisite services period of three years, subject to acceleration in certain circumstances. Restricted stock recipients who received grants have voting rights; however, dividends are accrued and will be paid upon vesting. Restricted stock units granted to non-employee directors are considered to vest immediately at the time of the grant for accounting purposes, as they are non-forfeitable, but are issued in equal annual installments on each of the first three anniversaries of the grant date. The non-vested shares are not transferable and are held by our transfer agent. The fair values of restricted stock are equal to the market price of our common stock on the grant date.
The following table summarizes activity for PBF Energy restricted stock:
Number of
PBF Energy
Restricted Class A
Common Stock		Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 2025
1,923,895 $32.60 
Granted846,855 31.18 
Vested(798,280)34.56 
Forfeited(60,154)30.23 
Nonvested at December 31, 2025
1,912,316 $31.24 
Unrecognized compensation expense related to PBF Energy Restricted Class A common stock at December 31, 2025 was $32.2 million, which will be recognized from 2026 through 2028.
The following table reflects activity related to our restricted stock:
December 31, 2025December 31, 2024December 31, 2023
Weighted-average grant-date fair value per share of restricted stock granted$31.18 $28.60 $44.90 
Fair value of restricted stock vested (in millions)
$27.6 $15.5 $11.2 
Performance Awards
The Company grants performance share awards, which are paid in stock, and performance share unit awards, which are paid in cash, (collectively, the “performance awards”) to certain key employees. Performance awards are based on a three-year performance cycle having a single measurement period. The performance awards will vest on the last day of the performance cycle, subject to forfeiture or acceleration under certain circumstances set forth in the award agreement. The number of performance awards that will ultimately vest is based on the Company’s total shareholder return over the performance cycle. The number of shares ultimately issued, or cash paid under these awards can range from zero to 200% of target award amounts.
Performance Share Unit Awards
The performance share unit awards are accounted for as equity awards, for which the fair value was determined on the grant date by application of a Monte Carlo valuation model.
The grant date fair value was calculated using a Monte Carlo valuation model with the following assumptions:
December 31, 2025December 31, 2024December 31, 2023
Expected life (in years)
3.18
2.82 - 3.04
2.86 - 3.18
Expected volatility
63.25%
53.66% - 56.02%
56.68% - 59.98%
Dividend yield
3.34%
2.07% - 3.93%
1.73% - 1.80%
Risk-free rate of return
3.47%
4.17% - 4.35%
4.40% - 4.75%
Weighted average grant-date fair value per PSU$40.25 $34.04 $56.35 
The risk-free interest rate for the remaining performance period as of the grant date is based on a linear interpolation of published yields of traded U.S. Treasury Interest-Only STRIP Bonds. The dividend yield assumption is based on the annualized most recent quarterly dividend divided by the stock price on the grant date. The assumption for the expected volatility of the Company’s stock price reflects the average of PBF Energy’s common stock historical and implied volatility.
The following table summarizes activity for PBF Energy performance share awards:
Number of
PBF Energy
Performance Share Units (“PSU”)		Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 2025612,410 $44.14 
Granted228,771 40.25 
Vested(5,212)39.70 
Forfeited(186,927)46.85 
Nonvested at December 31, 2025649,042 $42.02 
In 2025, 2024 and 2023, PSU’s with a fair value of $0.0 million, $14.1 million and $30.9 million, respectively, were vested.
As of December 31, 2025, unrecognized compensation cost related to performance share unit awards was $17.2 million, which is expected to be recognized over a weighted average period of 2.32 years.
Performance Unit awards
The performance unit awards are dollar denominated with a target value of $1.00, with actual payout of up to $2.00 per unit (or 200 percent of target). The performance unit awards are settled in cash based on the payout amount determined at the end of the performance cycle. The Company accounts for the performance unit awards as liability awards which the Company recorded at fair market value on the date of grant. Subsequently, the performance unit awards will be marked-to-market at the end of each fiscal quarter by application of a Monte Carlo simulation model.
The following table summarizes activity for PBF Energy performance unit awards:
Number of
PBF Energy
Performance Units
Nonvested at January 1, 202546,004,030 
Granted16,741,373 
Vested(350,027)
Forfeited(15,367,121)
Nonvested at December 31, 202547,028,255 
In 2025, 2024 and 2023, Performance Units with a fair value of $0.0 million, $19.3 million and $12.1 million, respectively, were vested.
As of December 31, 2025, unrecognized compensation cost related to performance unit awards was $12.7 million, which is expected to be recognized over a weighted average period of 2.63 years.
v3.25.4
EMPLOYEE BENEFIT PLANS
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
Defined Contribution Plan
The Company’s defined contribution plan covers all employees. Employees are eligible to participate as of the first day of the month following 30 days of service. Participants can make basic contributions up to 50 percent of their annual salary subject to IRS limits. The Company matches participants’ contributions at the rate of 200 percent of the first 3 percent of each participant’s total basic contribution based on the participant’s total annual salary. The Company’s contribution to the qualified defined contribution plans was $36.8 million, $40.0 million and $37.5 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Defined Benefit and Post-Retirement Medical Plans
The Company sponsors a noncontributory defined benefit pension plan (the “Qualified Plan”) with a policy to fund pension liabilities in accordance with the limits imposed by the Employee Retirement Income Security Act of 1974 and Federal income tax laws. In addition, the Company sponsors a supplemental pension plan covering certain employees, which provides incremental payments that would have been payable from the Company’s principal pension plan, were it not for limitations imposed by income tax regulations (the “Supplemental Plan”). The funded status is measured as the difference between plan assets at fair value and the projected benefit obligation which is to be recognized in the Consolidated Balance Sheets. The plan assets and benefit obligations are measured as of the Consolidated Balance Sheet date.
The non-union Delaware City employees and all Paulsboro, Toledo, Chalmette, Torrance and Martinez employees became eligible to participate in the Company’s defined benefit plans as of the respective acquisition dates. The union Delaware City employees became eligible to participate in the Company’s defined benefit plans upon commencement of normal operations. The Company did not assume any of the employees’ pension liability accrued prior to the respective acquisitions.
The Company formed the Post-Retirement Medical Plan on December 31, 2010 to provide health care coverage continuation from date of retirement to age 65 for qualifying employees associated with the Paulsboro acquisition. The Company credited the qualifying employees with their prior service under Valero Energy Corporation which resulted in the recognition of a liability for the projected benefit obligation. The Post-Retirement Medical Plan includes all corporate and refinery employees.
The changes in the benefit obligation, the changes in fair value of plan assets, and the funded status of the Company’s Pension and Post-Retirement Medical Plans as of and for the years ended December 31, 2025 and 2024 were as follows:
Pension PlansPost-Retirement
Medical Plan
(in millions)2025202420252024
Change in benefit obligation:
Benefit obligation at beginning of year$489.8 $429.7 $15.6 $19.6 
Service cost53.2 53.4 0.7 0.9 
Interest cost25.0 20.3 0.8 0.9 
Benefit payments(32.5)(15.5)(2.7)(2.4)
Actuarial loss (gain)11.5 1.9 2.0 (3.4)
Projected benefit obligation at end of year$547.0 $489.8 $16.4 $15.6 
Change in plan assets:
Fair value of plan assets at beginning of year$394.7 $349.3 $— $— 
Actual return on plan assets59.8 25.9 — — 
Benefits paid(32.4)(15.5)(2.7)(2.4)
Employer contributions35.1 35.0 2.7 2.4 
Fair value of plan assets at end of year$457.2 $394.7 $— $— 
Reconciliation of funded status:
Fair value of plan assets at end of year$457.2 $394.7 $— $— 
Less projected benefit obligation at end of year547.0 489.8 16.4 15.6 
Funded status at end of year$(89.8)$(95.1)$(16.4)$(15.6)
The accumulated benefit obligation for the defined benefit plans approximated $508.4 million and $460.1 million at December 31, 2025 and 2024, respectively.
Benefit payments, which reflect expected future services that the Company expects to pay are as follows for the years ended December 31:
(in millions)Pension BenefitsPost-Retirement
Medical Plan
2026$41.3 $1.6 
202736.2 1.7 
202840.5 1.8 
202945.1 1.6 
203047.1 1.6 
Years 2031-2035296.9 7.8 
The Company’s funding policy for its defined benefit plans is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that may be appropriate considering the funded status of the plans, tax consequences, the cash flow generated by the Company and other factors. The Company plans to contribute approximately $36.0 million to the Company’s Pension Plans during 2026.
The components of net periodic benefit cost for the years ended December 31, 2025, 2024 and 2023 were as follows: 
Pension BenefitsPost-Retirement
Medical Plan
(in millions)202520242023202520242023
Components of net periodic benefit cost:
Service cost$53.2 $53.4 $48.1 $0.7 $0.9 $0.5 
Interest cost25.0 20.3 17.7 0.8 0.9 0.7 
Expected return on plan assets(27.6)(24.4)(19.2)— — — 
Amortization of prior service cost and actuarial loss0.2 0.3 — 0.3 0.5 0.1 
Net periodic benefit cost$50.8 $49.6 $46.6 $1.8 $2.3 $1.3 
Lump sum payments made by the Supplemental Plan to employees retiring in 2025, 2024 and 2023 did not exceed the Plan’s total service and interest costs expected for those years.
The pre-tax amounts recognized in other comprehensive loss (income) for the years ended December 31, 2025, 2024 and 2023 were as follows: 
Pension BenefitsPost-Retirement
Medical Plan
(in millions)202520242023202520242023
Prior service costs$— $— $— $— $— $6.1 
Net actuarial (gain) loss(20.7)0.4 9.5 2.0 (3.3)(0.2)
Amortization of losses and prior service cost(0.2)(0.3)(0.1)(0.3)(0.5)(0.1)
Total changes in other comprehensive (income) loss$(20.9)$0.1 $9.4 $1.7 $(3.8)$5.8 
The pre-tax amounts in accumulated other comprehensive (loss) income as of December 31, 2025 and 2024 that have not yet been recognized as components of net periodic costs were as follows: 
Pension BenefitsPost-Retirement
Medical Plan
(in millions)2025202420252024
Prior service costs$(0.2)$(0.3)$(6.5)$(7.6)
Net actuarial (loss) gain(3.7)(24.6)10.8 13.5 
Total$(3.9)$(24.9)$4.3 $5.9 
The weighted average assumptions used to determine the benefit obligations as of December 31, 2025 and 2024 were as follows: 
 Qualified PlanSupplemental PlanPost-Retirement Medical Plan
202520242025202420252024
Discount rate - benefit obligations5.54 %5.63 %5.27 %5.54 %5.04 %5.39 %
Rate of compensation increase4.55 %4.55 %5.00 %5.00 %— — 
The weighted average assumptions used to determine the net periodic benefit costs for the years ended December 31, 2025, 2024 and 2023 were as follows:
Qualified PlanSupplemental PlanPost-Retirement Medical Plan
202520242023202520242023202520242023
Discount rates:
Effective rate for service cost5.65%5.00%5.22%5.57%4.94%5.24%5.62%5.00%5.27%
Effective rate for interest cost5.32%4.90%5.14%5.20%4.90%5.14%5.10%4.82%5.05%
Effective rate for interest on service cost5.39%4.89%5.14%5.31%4.84%5.12%5.50%4.93%5.21%
Cash balance interest credit rate 4.63%3.99%4.04%4.63%3.99%4.04%N/AN/AN/A
Expected long-term rate of return on plan assets6.90%6.80%6.75%N/AN/AN/AN/AN/AN/A
Rate of compensation increase4.55%4.55%4.27%5.00%4.50%4.50%N/AN/AN/A
The assumed health care cost trend rates as of December 31, 2025 and 2024 were as follows: 
 Post-Retirement
Medical Plan
20252024
Health care cost trend rate assumed for next year6.8 %5.9 %
Rate to which the cost trend rate was assumed to decline (the ultimate trend rate)4.0 %4.0 %
Year that the rate reaches the ultimate trend rate20502049
The table below presents the fair values of the assets of the Company’s Qualified Plan as of December 31, 2025 and 2024 by level of fair value hierarchy. Assets consist of collective trusts and are measured at fair value based on the closing net asset value (“NAV”) as determined by the fund manager and reported daily. As noted above, the Company’s post-retirement medical plan is funded on a pay-as-you-go basis and has no assets. 
 Fair Value Measurements Using
NAV as Practical Expedient
(in millions)20252024
Equities:
Domestic equities$140.4 $121.7 
Developed international equities58.8 46.6 
Global low volatility equities— 7.9 
Emerging market equities24.8 19.2 
Fixed-income211.8 178.6 
Real Estate19.4 18.7 
Cash and cash equivalents2.0 2.0 
Total$457.2 $394.7 
The Company’s investment strategy for its Qualified Plan is to achieve a reasonable return on assets that supports the plan’s interest credit rating, subject to a moderate level of portfolio risk that provides liquidity. Consistent with these financial objectives as of December 31, 2025, the plan’s target allocations for plan assets are 48% invested in equity securities, 46% fixed income investments and 6% in real estate. Equity securities include international stocks and a blend of U.S. growth and value stocks of various sizes of capitalization. Fixed income securities include bonds and notes issued by the U.S. government and its agencies, corporate bonds, and mortgage-backed securities. The aggregate asset allocation is reviewed on an annual basis.
The overall expected long-term rate of return on plan assets for the Qualified Plan is based on the Company’s view of long-term expectations and asset mix.
v3.25.4
REVENUES
 12 Months Ended
Dec. 31, 2025
REVENUE [Abstract]  
REVENUES REVENUES
Revenue Recognition
In accordance with FASB ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), revenue is recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services.
As described in “Note 19 - Segment Information”, the Company’s business consists of the Refining Segment and Logistic Segment. The following table provides information relating to the Company’s revenues for each product or group of similar products for the periods presented.
Year Ended December 31,
(in millions)202520242023
Refining Segment:
Gasoline and distillates$25,810.6 $28,652.0 $34,002.5 
Feedstocks and other1,354.2 1,449.1 1,640.6 
Asphalt and blackoils1,263.6 1,940.1 1,650.1 
Chemicals539.0 662.8 650.6 
Lubricants330.3 373.9 344.7 
Total Refining Revenue$29,297.7 $33,077.9 $38,288.5 
Logistics Segment:
Logistics Revenue383.5 386.8 384.1 
Total revenue prior to eliminations29,681.2 33,464.7 38,672.6 
Elimination of intercompany revenue(348.9)(349.4)(347.8)
Total Revenues $29,332.3 $33,115.3 $38,324.8 
The majority of the Company’s revenues are generated from the sale of refined products. These revenues are largely based on the current spot (market) prices of the products sold, which represent consideration specifically allocable to the products being sold on a given day, and the Company recognizes those revenues upon delivery and transfer of title to the products to the Company’s customers. The time at which delivery and transfer of title occurs is the point when the Company’s control of the products is transferred to the Company’s customers and when its performance obligation to its customers is fulfilled. Delivery and transfer of title are specifically agreed to between the Company and customers within the contracts. The Company also has contracts which contain fixed pricing, tiered pricing, minimum volume features with makeup periods, or other factors that have not materially been affected by ASC 606.
The Company’s Logistics segment revenues are generated by charging fees for crude oil and refined products terminaling, storage and pipeline services based on the greater of contractual minimum volume commitments, as applicable, or the delivery of actual volumes based on contractual rates applied to throughput or storage volumes. A majority of the Company’s logistics revenues are generated by intercompany transactions and are eliminated in consolidation.
Deferred Revenue
The Company records deferred revenue when cash payments are received or are due in advance of performance, including amounts which are refundable. Deferred revenue was $20.8 million and $43.8 million as of December 31, 2025 and December 31, 2024, respectively. Fluctuations in the deferred revenue balance are primarily driven by the timing and extent of cash payments received or due in advance of satisfying the Company’s performance obligations.
The Company’s payment terms vary by type and location of customers and the products offered. The period between invoicing and when payment is due is not significant (i.e. generally within two months). For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer.
Crude Oil and Refined Product Exchanges and Matching Buy/Sell Transactions
The Company enters into buy/sell arrangements and exchange contracts where it agrees to deliver a specified quantity and quality of crude oil or refined products at a specified location and date to a particular counterparty and to receive from the same counterparty the same commodity at a specified location on the same or another specified date. The exchange receipts and deliveries are non-monetary transactions, with the exception of specific grade or location differentials settled in cash. The matching buy/sell purchase and sale transactions are settled in cash. No revenues are recorded for exchange and matching buy/sell transactions as they are accounted for as exchanges of inventory. The net difference in buy/sell transactions is recorded in Cost of Goods Sold. The exchange transactions are recognized at the carrying amount of the inventory transferred.
Significant Judgment and Practical Expedients
For performance obligations related to sales of products, the Company has determined that customers are able to direct the use of, and obtain substantially all of the benefits from, the products at the point in time that the products are delivered. The Company has determined that the transfer of control upon delivery to the customer’s requested destination accurately depicts the transfer of goods. Upon the delivery of the products and transfer of control, the Company generally has the present right to payment and the customers bear the risks and rewards of ownership of the products. The Company has elected the practical expedient to not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed.
v3.25.4
INCOME TAXES
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
PBF Energy is required to file federal and applicable state corporate income tax returns and recognizes income taxes on its pre-tax income, which to-date has consisted primarily of its share of PBF LLC’s pre-tax income (see “Note 13 - Stockholders’ and Members’ Equity Structure”). PBF LLC is organized as a limited liability company and PBFX is a partnership, both of which are treated as “flow-through” entities for federal income tax purposes and therefore are not subject to income taxes apart from the income tax attributable to the two subsidiaries acquired in connection with the acquisition of Chalmette Refining and PBF Holding’s wholly-owned Canadian subsidiary, PBF Energy Limited, that are treated as C-Corporations for income tax purposes, with the tax provision calculated based on the effective tax rate for the periods presented.
The income tax provision in the PBF Energy Consolidated Statements of Operations consists of the following:
Year Ended December 31,
(in millions)202520242023
Current expense (benefit):
Federal$1.7 $(10.6)$140.9 
Foreign— — (0.3)
State2.1 21.4 46.2 
Total current3.8 10.8 186.8 
  
Deferred (benefit) expense:
Federal(48.5)(156.6)387.7 
Foreign3.2 (4.8)3.1 
State(32.6)(77.8)146.2 
Total deferred(77.9)(239.2)537.0 
Total provision for income taxes$(74.1)$(228.4)$723.8 
Income Tax Payments (Refunds)
Disclosed below is a summary of income taxes paid (refunds received) by jurisdiction for the year ended December 31, 2025:
Year Ended December 31, 2025
Federal $(71.1)
State and local (6.4)
Foreign — 
Total income tax refund $(77.5)
In the year ended December 31, 2025, the Company received a federal income tax refund of approximately $72.0 million. There were no other individual jurisdictions with cash taxes paid or refunds received that equaled or exceeded 5% of total income taxes paid.
Reconciliation of Statutory Federal Income Tax Rate to the Effective Income Tax Rate
The difference between PBF Energy’s effective income tax rate and the United States statutory rate for the year ended December 31, 2025 is reconciled below:
Year Ended December 31, 2025
$%
Provision at Federal statutory rate$(48.8)21.0 %
Increase (decrease) attributable to flow-through of certain tax adjustments:
State and local income taxes (net of federal income tax) (a)
(22.5)9.7  %
Nondeductible/nontaxable items
Executive compensation 8.0 (3.4)%
Non-taxable incentive income (7.0)3.0 %
Equity compensation(2.5)1.1 %
Other 0.5 (0.2) %
Rate differential from foreign jurisdictions (0.7)0.3  %
Other(1.1)0.4  %
Effective tax rate$(74.1)31.9 %
(a) State and local taxes in California and Louisiana comprise the majority of this category.
The difference between PBF Energy’s effective income tax rate and the United States statutory rate for the years ended December 31, 2024 and December 31, 2023 are reconciled below:
Year Ended December 31,
20242023
Provision at Federal statutory rate21.0  %21.0  %
Increase (decrease) attributable to flow-through of certain tax adjustments:
State income taxes (net of federal income tax)5.0 %5.0 %
Nondeductible/nontaxable items3.3 %(0.5)%
Rate differential from foreign jurisdictions (0.2)%— %
Provision to return adjustment0.2 %(0.1)%
Other0.7 %(0.1)%
Effective tax rate30.0 %25.3 %
PBF Energy’s effective income tax rate for the years ended December 31, 2025, 2024 and 2023, including the impact of income (loss) attributable to noncontrolling interests of $(2.0) million, $(6.4) million and $21.5 million, respectively, was 31.6%, 29.7% and 25.1%, respectively.
For the years ended December 31, 2025 and December 31, 2024, PBF Energy’s effective tax rate differed from the United States statutory rate, inclusive of state income taxes, as a result of equity-based compensation activity and permanent book/tax differences related to the use of blender’s tax credits. For the year ended December 31, 2023, PBF Energy’s effective tax rate did not materially differ from the United States statutory rate, inclusive of state income taxes.
For financial reporting purposes, income (loss) before income taxes attributable to PBF Energy Inc. stockholders includes the following components:
Year Ended December 31,
(in millions)202520242023
United States income (loss)$(244.3)$(739.8)$2,852.4 
Foreign income (loss)11.7 (22.4)11.9 
Total income (loss) before income taxes attributable to PBF Energy Inc. stockholders$(232.6)$(762.2)$2,864.3 
A summary of the components of PBF Energy’s deferred tax assets and deferred tax liabilities consists of the following: 
(in millions)December 31, 2025December 31, 2024
Deferred tax assets
Purchase interest step-up$141.8 $165.0 
Inventory26.0 — 
Pension, employee benefits and compensation51.5 53.3 
Net operating loss carry forwards532.4 297.5 
Environmental liabilities38.6 39.0 
Lease liabilities 293.6 317.4 
Other50.4 50.7 
Total deferred tax assets1,134.3 922.9 
 
Deferred tax liabilities
Property, plant and equipment1,323.9 1,122.0 
Inventory— 60.3 
Right of use assets292.2 314.5 
Equity method investment in SBR 259.6 249.6 
Other22.2 12.5 
Total deferred tax liabilities1,897.9 1,758.9 
Net deferred tax liability$(763.6)$(836.0)
As of December 31, 2025, PBF Energy had $2,009.3 million of gross federal and $111.5 million of net state income tax operating loss carry forwards. The portion of the federal net operating loss carry forward that was generated in years prior to 2019 was utilized in 2022. The federal net operating loss carry forward was generated in 2024 and 2025, and it has an indefinite carryforward period but is limited to 80% of taxable income in each tax year. The state net operating loss carry forwards expire at various dates from 2028 through 2054 with certain jurisdictions having indefinite net operating loss carry forward periods.
Income tax years that remain subject to examination by material jurisdictions, where an examination has not already concluded are all years including and subsequent to:
United States
Federal2021
New Jersey2021
Michigan2021
Delaware2022
Indiana2022
Pennsylvania2022
New York2022
Louisiana2022
California2021
The Company does not have any unrecognized tax benefits.
Valuation Allowance
The Company assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of existing deferred tax assets. Negative evidence evaluated as part of this assessment includes cumulative losses incurred over a three-year period. Such objective evidence could limit PBF Energy’s ability to consider other subjective evidence, such as PBF Energy’s projections for future taxable income as market conditions, commodity prices and demand for refined products normalize.
On the basis of this evaluation, a valuation allowance is recorded to recognize only the portion of deferred tax assets that are more likely than not to be realized. The amount of the deferred tax assets considered realizable, however, could be adjusted if estimates of future taxable income during the carryover period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as PBF Energy’s projections for future taxable income.
One Big Beautiful Bill Act
On July 4, 2025, the One Big Beautiful Bill Act was signed into law in the United States. The legislation includes certain provisions related to the full expensing of qualified United States research and experimental costs and other depreciable property. The legislation also includes changes to the determination of the amount of United States interest expense that is deductible for United States. tax purposes. The legislation did not have a material impact on the Company’s income tax expense for the year ended December 31, 2025, and did not materially change its effective income tax rate for 2025.
v3.25.4
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company’s operations are organized into two reportable segments, Refining and Logistics. Operations that are not included in the Refining or Logistics segments, including the Company’s share of SBR’s results, are included in Corporate. Intersegment transactions are eliminated in the Consolidated Financial Statements and are included in the Eliminations column below.
The Company’s chief operating decision maker is the chief executive officer, who evaluates the performance of the reportable segments based primarily on income from operations. Income from operations includes those revenues and expenses that are directly attributable to management of the reporting segments.
Refining
The Company’s Refining segment includes the operations of its six refineries, including certain related logistics assets that are not owned by PBFX. The Company’s refineries are located in Delaware City, Delaware, Paulsboro, New Jersey, Toledo, Ohio, Chalmette, Louisiana, Torrance, California, and Martinez, California. The refineries produce unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. The Company purchases crude oil, other feedstocks and blending components from various third-party suppliers. The Company sells products throughout the Northeast, Midwest, Gulf Coast, and West Coast of the United States, as well as in other regions of the United States, Canada, and Mexico, and is able to ship products to other international destinations.
Logistics
The Company’s Logistics segment is comprised of PBFX, a partnership, formed to own or lease, operate, develop, and acquire crude oil and refined products terminals, pipelines, storage facilities and similar logistics assets. PBFX’s assets primarily consist of rail and truck terminals and unloading racks, tank farms and pipelines that were acquired from or contributed by PBF LLC and are located at, or nearby, the Company’s refineries. PBFX provides various rail, truck and marine terminaling services, pipeline transportation services and storage services to PBF Holding and/or its subsidiaries and third-party customers through fee-based commercial agreements. PBFX currently does not generate significant third-party revenues and intersegment related-party revenues are eliminated in consolidation. From a PBF Energy perspective, the Company’s chief operating decision maker evaluates the Logistics segment as a whole without regard to any of PBFX’s individual operating segments.
The Company evaluates the performance of its segments based primarily on income from operations. Income from operations includes those revenues and expenses that are directly attributable to management of the respective segment. The Logistics segment’s revenues include intersegment transactions with the Company’s Refining segment at prices the Company believes are substantially equivalent to the prices that could have been negotiated with unaffiliated parties with respect to similar services. Activities of the Company’s business that are not included in the two operating segments are included in Corporate. Such activities consist primarily of corporate staff operations and other items that are not specific to the normal operations of the two operating segments. The Company does not allocate non-operating income and expense items, including income taxes, to the individual segments. The Refining segment’s operating subsidiaries and PBFX are primarily pass-through entities with respect to income taxes.
Total assets of each segment consist of property, plant and equipment, inventories, cash and cash equivalents, accounts receivable and other assets directly associated with the segment’s operations. Corporate assets consist primarily of the Company’s equity method investment in SBR, non-operating property, plant and equipment and other assets not directly related to the Company’s refinery and logistics operations.
Disclosures regarding the Company’s reportable segments with reconciliations to consolidated totals for the years ended December 31, 2025, 2024 and 2023 are presented below.
Year Ended December 31, 2025
(in millions)
RefiningLogisticsCorporateEliminationsConsolidated Total
Revenues$29,297.7 $383.5 $— $(348.9)$29,332.3 
Cost of products and other 26,950.2 8.3 — (331.5)26,627.0 
Operating expenses (income)2,547.0 116.5 — (17.5)2,646.0 
Depreciation and amortization expense594.2 36.1 14.4 — 644.7 
Other segment (income) expenses, net (1)
(831.4)(86.9)387.2 — (531.1)
Income (loss) from operations37.6 309.6 (401.5)— (54.3)
Interest (income) expense, net(27.7)(1.6)210.9 — 181.6 
Capital expenditures (3)
598.1 17.0 13.8 — 628.9 
Year Ended December 31, 2024
RefiningLogistics Corporate  EliminationsConsolidated Total
Revenues$33,077.9 $386.8 $— $(349.4)$33,115.3 
Cost of products and other30,590.4 8.3 — (332.0)30,266.7 
Operating expenses (income)2,487.8 135.8 — (17.4)2,606.2 
Depreciation and amortization expense578.4 36.2 13.2 — 627.8 
Other segment expenses, net (1) (2)
0.9 7.3 305.4 — 313.6 
Income (loss) from operations (2)
(579.5)199.1 (318.6)— (699.0)
Interest (income) expense, net(14.1)(1.9)88.0 — 72.0 
Capital expenditures (3)
994.8 6.5 7.0 — 1,008.3 
Year Ended December 31, 2023
RefiningLogisticsCorporate  EliminationsConsolidated Total
Revenues$38,288.5 $384.1 $— $(347.8)$38,324.8 
Cost of products and other33,000.8 — — (329.5)32,671.3 
Operating expenses (income)2,581.3 131.9 — (18.3)2,694.9 
Depreciation and amortization expense523.9 36.1 11.5 — 571.5 
Other segment (income) expenses, net (1) (2)
(1.1)10.0 (573.3)— (564.4)
Income from operations (2)
2,183.6 206.1 561.8 — 2,951.5 
Interest (income) expense, net(4.8)2.3 66.3 — 63.8 
Capital expenditures (3)
1,152.9 11.9 8.8 — 1,173.6 
Balance at December 31, 2025
RefiningLogisticsCorporate  EliminationsConsolidated Total
Total assets (4)
$11,469.1 $683.4 $906.3 $(38.9)$13,019.9 
Balance at December 31, 2024
RefiningLogisticsCorporate  EliminationsConsolidated Total
Total assets (4)
$10,945.5 $781.9 $1,015.4 $(39.6)$12,703.2 
(1) Other segment (income) expenses, net include General and administrative expenses (excluding depreciation and amortization expenses), Gain on insurance recoveries, net, Change in fair value of contingent consideration, net, Equity loss in investee, Loss (gain) on formation of SBR equity method investment, and (Gain) loss on sale of assets.
(2) Income (loss) from operations and Other segment (income) expenses, net within Corporate for the year ended December 31, 2024, included a $8.7 million reduction of the gain associated with the formation of the SBR equity method investment.
(3) For the year ended December 31, 2025, the Company’s refining segment Capital expenditures exclude $532.9 million of costs associated with the rebuild of units damaged by the Martinez refinery fire. For the years ended December 31, 2024 and December 31, 2023, the Company’s refining segment includes $5.6 million and $312.7 million, respectively, of capital expenditures related to the Renewable Diesel Facility.
(4) As of December 31, 2025 and December 31, 2024, Corporate assets include the Company’s Equity method investment in SBR of $826.3 million and $866.8 million, respectively.
v3.25.4
NET INCOME PER SHARE OF PBF ENERGY
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
NET INCOME PER SHARE OF PBF ENERGY NET INCOME PER SHARE OF PBF ENERGY
The Company grants certain equity-based compensation awards to employees and non-employee directors that are considered to be participating securities. Due to the presence of participating securities, the Company has calculated net income (loss) per share of PBF Energy Class A common stock using the two-class method.
The following table sets forth the computation of basic and diluted net income (loss) per share of PBF Energy Class A common stock attributable to PBF Energy for the periods presented:
(in millions, except share and per share amounts)Year Ended December 31,
Basic Earnings Per Share:
202520242023
Allocation of earnings:
Net income (loss) attributable to PBF Energy Inc. stockholders
$(158.5)$(533.8)$2,140.5 
Less: Income allocated to participating securities
0.1 0.1 — 
Income (loss) available to PBF Energy Inc. stockholders - basic
$(158.6)$(533.9)$2,140.5 
Denominator for basic net income (loss) per PBF Energy Class A common share-weighted average shares
114,052,733 116,248,827 124,953,858 
Basic net income (loss) attributable to PBF Energy per Class A common share
$(1.39)$(4.59)$17.13 
Diluted Earnings Per Share:
Numerator:
Income (loss) available to PBF Energy Inc. stockholders - basic
$(158.6)$(533.9)$2,140.5 
Plus: Net income (loss) attributable to noncontrolling interest (1)
(2.1)(6.0)20.5 
Less: Income tax expense (benefit) on net income (loss) attributable to noncontrolling interest (1)
0.6 1.6 (5.3)
Numerator for diluted net income (loss) per Class A common share - net income (loss) attributable to PBF Energy Inc. stockholders (1)
$(160.1)$(538.3)$2,155.7 
Denominator (1):
Denominator for basic net income (loss) per PBF Energy Class A common share-weighted average shares
114,052,733 116,248,827 124,953,858 
Effect of dilutive securities:
Conversion of PBF LLC Series A Units
862,780 862,780 899,519 
Common stock equivalents (2)
— — 4,656,071 
Denominator for diluted net income (loss) per PBF Energy Class A common share-adjusted weighted average shares
114,915,513 117,111,607 130,509,448 
Diluted net income (loss) attributable to PBF Energy Inc. stockholders per Class A common share
$(1.39)$(4.60)$16.52 
 
——————————
(1)    The diluted earnings per share calculation generally assumes the conversion of all outstanding PBF LLC Series A Units to PBF Energy Class A common stock. The net income (loss) attributable to PBF Energy used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income (loss), as well as the corresponding income tax (benefit) expense (based on a 26.0% annualized statutory corporate tax rate for the years ended December 31, 2025, 2024 and 2023, respectively) attributable to the converted units.
(2)    Represents an adjustment to weighted-average diluted shares outstanding to assume the full exchange of common stock equivalents, including options and warrants for PBF LLC Series A Units and PSUs and options for shares of PBF Energy Class A common stock as calculated under the treasury stock method (to the extent the impact of such exchange would not be anti-dilutive). Common stock equivalents exclude the effects of performance share units and options and warrants to purchase 6,771,051, 4,413,417 and 18,431 shares of PBF Energy Class A common stock and PBF LLC Series A units because they are anti-dilutive for the years ended December 31, 2025, 2024 and 2023, respectively. For periods showing a net loss, all common stock equivalents and unvested restricted stock are considered anti-dilutive.
v3.25.4
FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The tables below present information about the Company’s financial assets and liabilities measured and recorded at fair value on a recurring basis and indicate the fair value hierarchy of the inputs utilized to determine the fair values as of December 31, 2025 and 2024.
The Company has elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty; however, fair value amounts by hierarchy level are presented on a gross basis in the tables below. The Company may be required to post margin collateral or reclaim cash collateral from derivative counterparties based on contractual terms. At December 31, 2025 and December 31, 2024, the Company had the obligation to receive cash collateral posted against its derivative obligations of $5.7 million and $15.1 million, respectively. Cash collateral related to derivative contracts is recorded net in the Consolidated Balance Sheets. The Company has no derivative contracts that are subject to master netting arrangements that are reflected gross on the Consolidated Balance Sheets.
As of December 31, 2025
Fair Value Hierarchy
(in millions)Level 1Level 2Level 3Total Gross Fair ValueEffect of Counter-party NettingNet Carrying Value on Balance Sheet
Assets:
Money market funds$14.2 $— $— $14.2 N/A$14.2 
Commodity contracts8.2 11.9 — 20.1 (9.7)10.4 
Liabilities:
Commodity contracts9.6 0.1 — 9.7 (9.7)— 
Renewable energy credit and emissions obligations— 574.8 — 574.8 — 574.8 

As of December 31, 2024
Fair Value Hierarchy
(in millions)Level 1Level 2Level 3Total Gross Fair ValueEffect of Counter-party NettingNet Carrying Value on Balance Sheet
Assets:
Money market funds$21.0 $— $— $21.0 N/A$21.0 
Commodity contracts16.0 — — 16.0 (14.0)2.0 
Liabilities:
Commodity contracts14.0 — — 14.0 (14.0)— 
Renewable energy credit and emissions obligations— 465.9 — 465.9 — 465.9 
The valuation methods used to measure financial instruments at fair value are as follows:
•Money market funds categorized in Level 1 of the fair value hierarchy are measured at fair value based on quoted market prices and included within Cash and cash equivalents.
•The commodity contracts categorized in Level 1 of the fair value hierarchy are measured at fair value based on quoted prices in an active market. The commodity contracts categorized in Level 2 of the fair value hierarchy are measured at fair value using a market approach based upon future commodity prices for similar instruments quoted in active markets.
•Renewable energy credit and emissions obligations primarily represent the Company’s liability for the purchase of (i) biofuel credits (primarily RINs in the U.S.) needed to satisfy its obligation to blend biofuels into the products the Company produces and (ii) emission credits under the AB 32 and similar programs (collectively, the cap-and-trade systems). To the degree the Company is unable to blend biofuels (such as ethanol and biodiesel) at percentages required under the biofuel programs, it must purchase biofuel credits to comply with these programs. Under the cap-and-trade systems, it must purchase emission credits to comply with these systems. The liability for environmental credits is in part based on the Company’s deficit for such credits as of the balance sheet date, if any, after considering any credits acquired, and is equal to the product of the credits deficit and the market price of these credits as of the balance sheet date. To the extent that the Company has a better estimate of the cost at which it settles its obligation, such as agreements to purchase RINs or cap and trade credits at prices other than the current spot price, the Company considers those costs in valuing the remaining obligation. The environmental credit obligations are categorized in Level 2 of the fair value hierarchy and are measured at fair value using a market approach based on quoted prices from an independent pricing service.
•When applicable, commodity contracts categorized in Level 3 of the fair value hierarchy consist of commodity price swap contracts that relate to forecasted purchases of crude oil for which quoted forward market prices are not readily available due to market illiquidity. The forward prices used to value these swaps are derived using broker quotes, prices from other third-party sources and other available market based data.
•The contingent consideration obligation at December 31, 2023 was categorized in Level 3 of the fair value hierarchy and was estimated using discounted cash flow models based on management’s estimate of the future cash flows related to the earn-out periods. The Company’s final earn-out payment of $18.8 million was paid in full in 2024.
Non-qualified pension plan assets are measured at fair value using a market approach based on published net asset values of mutual funds as a practical expedient. As of December 31, 2025 and 2024, $18.6 million and $19.4 million, respectively, were included within Deferred charges and other assets, net for these non-qualified pension plan assets.
The table below summarizes the changes in fair value measurements categorized in Level 3 of the fair value hierarchy, which primarily includes the prior year change in estimated future earnings related to the Martinez Contingent Consideration:
(in millions)December 31,
2024
Balance at beginning of period $21.6 
Settlements(18.8)
Unrealized gain included in earnings(2.8)
Balance at end of period $— 
There were no transfers between levels during the years ended December 31, 2025 or December 31, 2024.
Fair value of debt
The table below summarizes the carrying value and fair value of debt as of December 31, 2025 and 2024.
December 31, 2025December 31, 2024
(in millions)Carrying
value		Fair
 value		Carrying
 value		Fair
value
2028 6.00% Senior Notes (a)
$801.6 $794.6 $801.6 $765.9 
2030 9.875% Senior Notes (a)
800.0 824.3 — — 
2030 7.875% Senior Notes (a)
500.0 481.3 500.0 490.0 
Revolving Credit Facility (b)
100.0 100.0 200.0 200.0 
2,201.6 2,200.2 1,501.6 1,455.9 
Less - Unamortized deferred financing costs(41.0)n/a(41.6)n/a
Unamortized discount(12.3)n/a(2.7)n/a
Long-term debt$2,148.3 $2,200.2 $1,457.3 $1,455.9 
_________________________
(a) The estimated fair value, categorized as a Level 2 measurement, was calculated based on the present value of future expected payments utilizing implied current market interest rates based on quoted prices of the outstanding senior notes.
(b) The estimated fair value approximates carrying value, categorized as a Level 2 measurement, as these borrowings bear interest based upon short-term floating market interest rates.
Fair Values - Non-recurring
Non-recurring fair value measurements and disclosures relate to the SBR equity method investment discussed in “Note 6 - Equity investment in SBR”. The fair value of the SBR equity method investment was primarily based on the cash consideration received from Eni for their 50 percent ownership.
v3.25.4
DERIVATIVES
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVES DERIVATIVES
The Company uses derivative instruments to mitigate certain exposures to commodity price risk. On July 31, 2023, the Company terminated the Inventory Intermediation Agreement. Prior to its termination, the Inventory Intermediation Agreement contained purchase obligations for certain volumes of crude oil, intermediates and refined products. The purchase obligations related to crude oil, intermediates and refined products under this agreement were derivative instruments designated as fair value hedges in order to hedge the commodity price volatility of certain refinery inventory. The fair value of these purchase obligation derivatives was based on market prices of the underlying crude oil, intermediates and refined products. The level of activity for these derivatives was based on the level of operating inventories.
The Company also enters into economic hedges primarily consisting of commodity derivative contracts that are not designated as hedges and are used to manage price volatility in certain crude oil and feedstock inventories as well as crude oil, feedstock, and refined product sales or purchases. The objective in entering into economic hedges is consistent with the objectives discussed above for fair value hedges. As of December 31, 2025, there were 5,889,000 barrels of crude oil and 4,037,000 barrels of refined products (13,911,000 and 4,704,000, respectively, as of December 31, 2024), outstanding under short and long term commodity derivative contracts not designated as hedges representing the notional value of the contracts.
The Company also uses derivative instruments to mitigate the risk associated with the price of credits needed to comply with various governmental and regulatory environmental compliance programs. For such contracts that represent derivatives the Company elects the normal purchase normal sale exception under ASC 815, Derivatives and Hedging, and therefore does not record them at fair value.
The following tables provide information regarding the fair values of derivative instruments as of December 31, 2025 and December 31, 2024 and the line items in the Consolidated Balance Sheets in which fair values are reflected.
Description
Balance Sheet Location		Fair Value
Asset
(in millions)
Derivatives not designated as hedging instruments:
December 31, 2025:
Commodity contractsAccounts receivable$10.4 
December 31, 2024:
Commodity contractsAccounts receivable$2.0 
The following table provides information regarding gains or losses recognized in income on derivative instruments and the line items in the Consolidated Statements of Operations in which such gains and losses are reflected.
DescriptionLocation of Gain or (Loss) Recognized in
 Income on Derivatives		Gain or (Loss)
Recognized in
Income on Derivatives
(in millions)
Derivatives designated as hedging instruments:
For the year ended December 31, 2025:
Derivatives included within the inventory intermediation agreement obligationsCost of products and other $— 
For the year ended December 31, 2024:
Derivatives included within the inventory intermediation agreement obligationsCost of products and other $— 
For the year ended December 31, 2023:
Derivatives included within the inventory intermediation agreement obligationsCost of products and other $21.0 
Derivatives not designated as hedging instruments:
For the year ended December 31, 2025:
Commodity contractsCost of products and other $0.7 
For the year ended December 31, 2024:
Commodity contractsCost of products and other $12.3 
For the year ended December 31, 2023:
Commodity contractsCost of products and other $38.1 
Hedged items designated in fair value hedges:
For the year ended December 31, 2025:
Crude oil, intermediate and refined product inventoryCost of products and other $— 
For the year ended December 31, 2024:
Crude oil, intermediate and refined product inventoryCost of products and other $— 
For the year ended December 31, 2023:
Crude oil, intermediate and refined product inventoryCost of products and other $(21.0)
There were no fair value hedges for the years ended December 31, 2025, 2024 or 2023.
v3.25.4
SUBSEQUENT EVENTS
 12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Dividend Declared
On February 12, 2026, PBF Energy announced a dividend of $0.275 per share on outstanding PBF Energy Class A common stock. The dividend is payable on March 11, 2026, to PBF Energy Class A common stockholders of record at the close of business on February 25, 2026.
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Our cybersecurity risk management program is managed by our current Chief Information Officer (“CIO”) who reports to our Chief Financial Officer and provides regular updates to the Board of Directors. Our CIO establishes our overall Information Technology (“IT”) security strategy, oversees our information, cyber, and technology security and manages our IT department, which includes our Cybersecurity team. His responsibilities include developing, implementing, and enforcing security policies to protect critical data. The head of our Cybersecurity team, our Director of Information Security, who reports to our CIO, runs the day-to-day management of our cybersecurity risks. Our IT department overall assists in implementing cybersecurity strategies and policies under the direction of the Cybersecurity team, as applicable.
Our cybersecurity risk management program aligns with the National Institute of Standards and Technology Cyber Security Framework, which establishes five areas of focus: identify, protect, detect, respond and recover. Our cybersecurity risk management program is designed to manage industry-specific threats, as well as threats arising from the overall evolving cybersecurity landscape and consists of two principal areas of focus: (i) enterprise systems, which consists of all business systems used in our daily operations and (ii) operational technology, which consists of all process control, supervisory control and data acquisition systems. Key elements of our cybersecurity management program include:
•identifying, monitoring and mitigating the cybersecurity risks to our systems, assets, data and capabilities;
•a critical response process for cybersecurity incidents, including the process for detection, investigation, containment and remediation of any such incidents;
•establishment of disaster recovery plans;
•testing, at least bi-annually, of select critical systems for disaster recovery and periodic walk-throughs of procedures for disaster recovery;
•identity access policies that aim to identify and monitor for potential cyber intrusions;
•periodic security tests, including monthly internal vulnerability scans, weekly external vulnerability scans, monthly phishing campaigns and recurring penetration testing by third-party cybersecurity firms;
•table-top exercises, at least quarterly, for incident response preparedness for the Cybersecurity team and Information Technology department; and
•annual drills for potential threats on various aspects of our technology assets based on the then-existing IT threat landscape for our industry.
Pursuant to our incident response plan, the Cybersecurity team has defined roles in responding to all cybersecurity incidents to provide an efficient and organized approach to handling cybersecurity threats, with the CIO receiving all reports and status updates regarding cybersecurity threats. The incident response plan provides a documented framework for when and how the CIO informs and updates our Board, the executive officers and other internal parties and when external parties are notified or consulted about a cybersecurity threat and the status thereof.
We also utilize third-party cybersecurity vendors to assist us with various aspects of our cybersecurity risk management program. For example, in order to support our cybersecurity incident response procedures, we have retained several third-party cybersecurity firms to monitor the IT threat landscape for our industry. As part of our efforts to manage the risk of cybersecurity threats associated with the use of third parties, we monitor and evaluate the cybersecurity risk profiles of third-party technology providers and consider such risk profiles when selecting third-party technology providers. Any third-party service provider that is granted access to our network is required to comply with our policies regarding information technology and cybersecurity. We also engage several third-party cybersecurity firms to perform independent assessments of the effectiveness of our cybersecurity risk management program and assist us in the continued review of our cybersecurity risk management program in order to reflect the evolving landscape of cybersecurity.
To date, there have been no significant threats, including as a result of any significant cybersecurity breaches or attacks, that have materially affected our business, results of operations or financial condition. However, if we were to be subject to a material successful cyber intrusion, it could result in remediation or service restoration costs, increased cybersecurity protection costs, lost revenues, litigation or regulatory actions by governmental authorities, increased insurance premiums, reputational damage and damage to our competitiveness, financial condition, results of operations and cash flows. See “Item 1A. Risk Factors−Risks Relating to Our Business and Industry−A cyber-attack on, or other failure of, our technology infrastructure could affect our business and assets, and have a material adverse effect on our financial condition, results of operations and cash flows.”
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Our cybersecurity risk management program is managed by our current Chief Information Officer (“CIO”) who reports to our Chief Financial Officer and provides regular updates to the Board of Directors. Our CIO establishes our overall Information Technology (“IT”) security strategy, oversees our information, cyber, and technology security and manages our IT department, which includes our Cybersecurity team. His responsibilities include developing, implementing, and enforcing security policies to protect critical data. The head of our Cybersecurity team, our Director of Information Security, who reports to our CIO, runs the day-to-day management of our cybersecurity risks. Our IT department overall assists in implementing cybersecurity strategies and policies under the direction of the Cybersecurity team, as applicable.
Our cybersecurity risk management program aligns with the National Institute of Standards and Technology Cyber Security Framework, which establishes five areas of focus: identify, protect, detect, respond and recover. Our cybersecurity risk management program is designed to manage industry-specific threats, as well as threats arising from the overall evolving cybersecurity landscape and consists of two principal areas of focus: (i) enterprise systems, which consists of all business systems used in our daily operations and (ii) operational technology, which consists of all process control, supervisory control and data acquisition systems. Key elements of our cybersecurity management program include:
•identifying, monitoring and mitigating the cybersecurity risks to our systems, assets, data and capabilities;
•a critical response process for cybersecurity incidents, including the process for detection, investigation, containment and remediation of any such incidents;
•establishment of disaster recovery plans;
•testing, at least bi-annually, of select critical systems for disaster recovery and periodic walk-throughs of procedures for disaster recovery;
•identity access policies that aim to identify and monitor for potential cyber intrusions;
•periodic security tests, including monthly internal vulnerability scans, weekly external vulnerability scans, monthly phishing campaigns and recurring penetration testing by third-party cybersecurity firms;
•table-top exercises, at least quarterly, for incident response preparedness for the Cybersecurity team and Information Technology department; and
•annual drills for potential threats on various aspects of our technology assets based on the then-existing IT threat landscape for our industry.
Pursuant to our incident response plan, the Cybersecurity team has defined roles in responding to all cybersecurity incidents to provide an efficient and organized approach to handling cybersecurity threats, with the CIO receiving all reports and status updates regarding cybersecurity threats. The incident response plan provides a documented framework for when and how the CIO informs and updates our Board, the executive officers and other internal parties and when external parties are notified or consulted about a cybersecurity threat and the status thereof.
We also utilize third-party cybersecurity vendors to assist us with various aspects of our cybersecurity risk management program. For example, in order to support our cybersecurity incident response procedures, we have retained several third-party cybersecurity firms to monitor the IT threat landscape for our industry. As part of our efforts to manage the risk of cybersecurity threats associated with the use of third parties, we monitor and evaluate the cybersecurity risk profiles of third-party technology providers and consider such risk profiles when selecting third-party technology providers. Any third-party service provider that is granted access to our network is required to comply with our policies regarding information technology and cybersecurity. We also engage several third-party cybersecurity firms to perform independent assessments of the effectiveness of our cybersecurity risk management program and assist us in the continued review of our cybersecurity risk management program in order to reflect the evolving landscape of cybersecurity.
To date, there have been no significant threats, including as a result of any significant cybersecurity breaches or attacks, that have materially affected our business, results of operations or financial condition. However, if we were to be subject to a material successful cyber intrusion, it could result in remediation or service restoration costs, increased cybersecurity protection costs, lost revenues, litigation or regulatory actions by governmental authorities, increased insurance premiums, reputational damage and damage to our competitiveness, financial condition, results of operations and cash flows. See “Item 1A. Risk Factors−Risks Relating to Our Business and Industry−A cyber-attack on, or other failure of, our technology infrastructure could affect our business and assets, and have a material adverse effect on our financial condition, results of operations and cash flows.”
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Our CIO, along with the head of our Cybersecurity team, periodically reports, no less than quarterly, to our Board and our executive officers regarding the state of our cybersecurity risk management program, including information on the status of ongoing efforts to manage and mitigate cybersecurity risks, as well as recent cybersecurity trends and events and any updates to cybersecurity matters.
The Audit Committee reviews our disclosures with respect to cybersecurity and information technology risks. The Audit Committee also reviews with management guidelines and policies to govern the process by which risk assessment and risk management is undertaken, including but not limited to cybersecurity and information technology risks. As part of the Company’s enterprise-wide risk management program, our Internal Audit team also reports to our Audit Committee regarding assessments of our cybersecurity and information technology risks, at least annually, based on regular updates by our CIO regarding such risks. Our Internal Audit team periodically reports to our executive officers and the Audit Committee regarding such risks.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee reviews our disclosures with respect to cybersecurity and information technology risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]
Our CIO, along with the head of our Cybersecurity team, periodically reports, no less than quarterly, to our Board and our executive officers regarding the state of our cybersecurity risk management program, including information on the status of ongoing efforts to manage and mitigate cybersecurity risks, as well as recent cybersecurity trends and events and any updates to cybersecurity matters.
The Audit Committee reviews our disclosures with respect to cybersecurity and information technology risks. The Audit Committee also reviews with management guidelines and policies to govern the process by which risk assessment and risk management is undertaken, including but not limited to cybersecurity and information technology risks. As part of the Company’s enterprise-wide risk management program, our Internal Audit team also reports to our Audit Committee regarding assessments of our cybersecurity and information technology risks, at least annually, based on regular updates by our CIO regarding such risks. Our Internal Audit team periodically reports to our executive officers and the Audit Committee regarding such risks.
Cybersecurity Risk Role of Management [Text Block] Our CIO establishes our overall Information Technology (“IT”) security strategy, oversees our information, cyber, and technology security and manages our IT department, which includes our Cybersecurity team. His responsibilities include developing, implementing, and enforcing security policies to protect critical data. The head of our Cybersecurity team, our Director of Information Security, who reports to our CIO, runs the day-to-day management of our cybersecurity risks. Our IT department overall assists in implementing cybersecurity strategies and policies under the direction of the Cybersecurity team, as applicable.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our CIO assumed his position effective June 1, 2024, following the retirement of his predecessor. He previously served as the head of our Cybersecurity team. Our CIO has 30 years of experience in highly regulated industries managing information security in complex, matrixed environments. He has created and maintained enterprise-level information security programs for our Company and other US and international companies in the refining industry.
Our CIO, along with the head of our Cybersecurity team, periodically reports, no less than quarterly, to our Board and our executive officers regarding the state of our cybersecurity risk management program, including information on the status of ongoing efforts to manage and mitigate cybersecurity risks, as well as recent cybersecurity trends and events and any updates to cybersecurity matters.
The Audit Committee reviews our disclosures with respect to cybersecurity and information technology risks. The Audit Committee also reviews with management guidelines and policies to govern the process by which risk assessment and risk management is undertaken, including but not limited to cybersecurity and information technology risks. As part of the Company’s enterprise-wide risk management program, our Internal Audit team also reports to our Audit Committee regarding assessments of our cybersecurity and information technology risks, at least annually, based on regular updates by our CIO regarding such risks. Our Internal Audit team periodically reports to our executive officers and the Audit Committee regarding such risks.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CIO has 30 years of experience in highly regulated industries managing information security in complex, matrixed environments.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Our CIO, along with the head of our Cybersecurity team, periodically reports, no less than quarterly, to our Board and our executive officers regarding the state of our cybersecurity risk management program, including information on the status of ongoing efforts to manage and mitigate cybersecurity risks, as well as recent cybersecurity trends and events and any updates to cybersecurity matters.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Principles of Consolidation and Presentation
Principles of Consolidation and Presentation
These Consolidated Financial Statements include the accounts of PBF Energy and subsidiaries in which PBF Energy has a controlling interest. All intercompany accounts and transactions have been eliminated in consolidation.
Cost Classifications
Cost Classifications
Cost of products and other consists of the cost of crude oil, other feedstocks, blendstocks and purchased refined products and the related in-bound freight and transportation costs.
Operating expenses (excluding depreciation and amortization) consists of direct costs of labor, maintenance and services, utilities, property taxes, environmental compliance costs and other direct operating costs incurred in connection with the Company’s refining operations. Such expenses exclude depreciation related to refining and logistics assets that are integral to the refinery production process, which is presented separately as Depreciation and amortization expense as a component of Cost of sales on the Company’s Consolidated Statements of Operations.
Use of Estimates
Use of Estimates
The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the related disclosures. Actual results could differ from those estimates.
Impairment Assessment of Long-Lived Assets and Definite-Lived Intangibles
Impairment Assessment of Long-Lived Assets and Definite-Lived Intangibles
The Company evaluates long-lived assets for impairment on a continual basis and reassesses the reasonableness of their related useful lives whenever events or changes in circumstances warrant assessment. Possible triggering events may include, among other things, significant adverse changes in the business climate, market conditions, environmental regulations or a determination that it is more likely than not that an asset or an asset group will be sold or retired before its estimated useful life. These possible triggering events of impairment may impact the Company’s assumptions related to future throughput levels, future operating revenues, expenses and gross margin, levels of anticipated capital expenditures and remaining useful life. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. A long-lived asset is not recoverable if its carrying amount exceeds the sum of the undiscounted cash flows expected to result from its use, early retirement or disposition. Cash flows for long-lived assets/asset groups are determined at the lowest level for which identifiable cash flows exist. The cash flows from the refinery asset groups are evaluated individually regardless of product mix or fuel type produced. If a long-lived asset is not recoverable, an impairment loss is recognized for the amount by which the carrying amount of the long-lived asset exceeds its fair value, with fair value determined based on discounted estimated net cash flows or other appropriate methods. The Company’s assumptions incorporate inherent uncertainties that are at times difficult to predict and could result in impairment charges or accelerated depreciation in future periods if actual results materially differ from the estimated assumptions used.
Equity Method Investments
Equity Method Investment
For equity investments that are not required to be consolidated under the variable or voting interest model, the Company evaluates the level of influence it is able to exercise over an entity’s operations to determine whether to use the equity method of accounting. The Company’s judgment regarding the level of influence over an equity method investment includes considering key factors such as its ownership interest, participation in policy-making and other significant decisions and material intercompany transactions. Equity investments for which the Company determines it has significant influence are accounted for as equity method investments. Amounts recognized for equity method investments are shown separately in the Company’s Consolidated Balance Sheets and adjusted for its share of the net earnings and losses of the investee and cash distributions, which is separately stated in its Consolidated Statements of Operations and its Consolidated Statements of Cash Flows.
Contributions made to equity method investees at times are in the form of loan agreements. Loans provided to equity method investees that are made based on the Company's proportionate ownership percentage are accounted for as “in-substance capital contributions” and are treated as an increase to the investment. In addition, the Company treats interest paid in kind on the loan agreements as an “in-substance return of capital” and reduces its investment accordingly, rather than recording interest income.
The Company evaluates its equity method investments presented for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may be impaired. There were no impairment losses recorded on equity method investments for the year ended December 31, 2025 and 2024. See “Note 6 - Equity Investment in SBR” for further information on the Company’s only current equity method investment.
Variable Interest Entities
Variable Interest Entities
The Company’s Consolidated Financial Statements include the financial statements of its subsidiaries and variable interest entities (“VIE”), of which the Company is the primary beneficiary. The Company evaluates all legal entities in which it holds an ownership or other financial interest to determine if the entity is a VIE. Variable interests can be contractual, ownership or other financial interests in an entity that change with changes in the fair value of the VIE’s assets. If the Company is not the primary beneficiary, the general partner or another limited partner may consolidate the VIE, and the Company records the investment as an equity method investment.
Cash and Cash Equivalents
Cash and Cash Equivalents
The Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The carrying amount of the cash equivalents approximates fair value due to the short-term maturity of those instruments.
Concentrations of Credit Risk
Concentrations of Credit Risk
For the years ended December 31, 2025 and December 31, 2024, only one customer, Shell plc (“Shell”), accounted for 10% or more of the Company’s revenues (approximately 13% and 13%, respectively).
As of December 31, 2025 and December 31, 2024, only one customer, Shell, accounted for 10% or more of the Company’s total trade accounts receivable (approximately 14% and 18%, respectively).
Revenue Recognition
Revenue Recognition
The Company sells various refined products primarily through its refinery subsidiaries and recognizes revenue related to the sale of products when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Refer to “Note 17 - Revenues” for further discussion of the Company’s revenue recognition policy.
Allowance for Doubtful Accounts Accounts receivable are carried at invoiced amounts. An allowance for doubtful accounts is established, if required, to report such amounts at their estimated net realizable value. In estimating probable losses, management reviews accounts that are past due and determines if there are any known disputes.
Excise Taxes
Excise taxes on sales of refined products that are collected from customers and remitted to various governmental agencies are reported on a net basis.
Inventory
Inventory
Inventories are carried at the lower of cost or market (“LCM”). The cost of crude oil, feedstocks, blendstocks and refined products are determined under the last-in first-out (“LIFO”) method using the dollar value LIFO method with increments valued based on average purchase prices during the year. The cost of supplies and other inventories is determined principally on the weighted average cost method.
RINs
RINs
The Company is subject to obligations to purchase Renewable Identification Numbers (“RINs”) required to comply with the renewable fuel standard implemented by the EPA, which sets annual quotas for the quantity of renewable fuels (such as ethanol) that must be blended into motor fuels consumed in the United States (the “RFS”). The Company’s overall RINs obligation is based on a percentage of domestic shipments of on-road fuels as established by EPA. To the degree the Company is unable to blend the required amount of biofuels to satisfy its RINs obligation, RINs must be purchased on the open market to avoid penalties and fines. The Company records its RINs obligation on a net basis in Accrued expenses when its RINs liability is greater than the amount of RINs earned and purchased in a given period and in Prepaid and other current assets when the amount of RINs earned and purchased is greater than the RINs liability.
Leases
Leases
The Company leases office space, office equipment, refinery facilities and equipment, railcars and other logistics assets primarily under non-cancelable operating leases, with terms typically ranging from one to twenty years, subject to certain renewal options as applicable. The Company considers those renewal or termination options that are reasonably certain to be exercised in the determination of the lease term and initial measurement of lease liabilities and right-of-use assets. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Interest expense for finance leases is incurred based on the carrying value of the lease liability. Leases with an initial term of 12 months or less are not recorded on the Company’s Consolidated Balance Sheets.
The Company determines whether a contract is or contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company must discount lease payments based on an estimate of its incremental borrowing rate.
For substantially all classes of underlying assets, the Company has elected the practical expedient not to separate lease and non-lease components, which allows for combining the components if certain criteria are met. For certain leases of refinery support facilities, the Company accounts for the non-lease service component separately.
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment additions are recorded at cost. The Company capitalizes costs associated with the preliminary, pre-acquisition and development/construction stages of a major construction project. The Company capitalizes the interest cost associated with major construction projects based on the effective interest rate of total borrowings. The Company also capitalizes costs incurred in the acquisition and development of software for internal use, including the costs of software, materials, consultants and payroll-related costs for employees incurred in the application development stage.
Depreciation is computed using the straight-line method over the following estimated useful lives:
Computers, furniture and fixtures
3-7 years
Leasehold improvements
20 years
Process units and equipment
5-25 years
Pipeline and equipment
5-25 years
Buildings
25 years
Railcars
50 years
Maintenance and repairs are charged to operating expenses as they are incurred. Improvements and betterments, which extend the lives of the assets, are capitalized.
Deferred Charges and Other Assets, Net
Deferred Charges and Other Assets, Net
Deferred charges and other assets include refinery turnaround costs, catalyst, precious metal catalysts, linefill, deferred financing costs and intangible assets. Refinery turnaround costs, which are incurred in connection with planned major maintenance activities, are capitalized when incurred and amortized on a straight-line basis over the period of time estimated to lapse until the next turnaround occurs, which is based on an engineering assessment. The amortization period generally ranges from 3 to 6 years; however, based on the specific facts and circumstances, different periods of deferral may occur.
Precious metal catalysts, linefill and certain other intangibles are considered indefinite-lived assets as they are not expected to deteriorate in their prescribed functions. Such assets are assessed for impairment in connection with the Company’s review of its long-lived assets.
Deferred financing costs are capitalized when incurred and amortized over the life of the loan.
Finite-Lived Intangible Assets
Intangible assets with finite lives primarily consist of emission credits, permits and customer relationships and are amortized over their estimated useful lives (generally 1 to 10 years).
Asset Retirement Obligations
Asset Retirement Obligations
The Company records an asset retirement obligation at fair value for the estimated cost to retire a tangible long-lived asset at the time the Company incurs that liability, which is generally when the asset is purchased, constructed, or leased. The Company records the liability when it has a legal or contractual obligation to incur costs to retire the asset and when a reasonable estimate of the fair value of the liability can be made. If a reasonable estimate cannot be made at the time the liability is incurred, the Company will record the liability when sufficient information is available to estimate the liability’s fair value. Certain of the Company’s asset retirement obligations are based on its legal obligation to perform remedial activity at its refinery sites when it permanently ceases operations of the long-lived assets. The Company therefore considers the settlement date of these obligations to be indeterminable. Accordingly, the Company cannot calculate an associated asset retirement liability for these obligations at this time. The Company will measure and recognize the fair value of these asset retirement obligations when the settlement date is determinable.
Environmental Matters
Environmental Matters
Liabilities for future remediation costs are recorded when environmental assessments and/or remedial efforts are probable, and the costs can be reasonably estimated. Other than for assessments, the timing and magnitude of these accruals generally are based on the completion of investigations or other studies or a commitment to a formal plan of action. Environmental liabilities are based on best estimates of probable future costs using currently available technology and applying current regulations, as well as the Company’s own internal environmental policies. The measurement of environmental remediation liabilities may be discounted to reflect the time value of money if the aggregate amount and timing of cash payments of the liabilities are fixed or reliably determinable. The actual settlement of the Company’s liability for environmental matters could materially differ from its estimates due to a number of uncertainties such as the extent of contamination, changes in environmental laws and regulations, potential improvements in remediation technologies and the participation of other responsible parties.
Stock-Based Compensation
Stock-Based Compensation
Stock-based compensation includes the accounting effect of options to purchase PBF Energy Class A common stock granted by the Company to certain employees, Series A warrants issued or granted by PBF LLC to employees in connection with their acquisition of PBF LLC Series A units, options to acquire Series A units of PBF LLC granted by PBF LLC to certain employees, Series B units of PBF LLC that were granted to certain members of management and restricted PBF LLC Series A Units and restricted PBF Energy Class A common stock granted to certain directors and officers. The estimated fair value of the options to purchase PBF Energy Class A common stock and the PBF LLC Series A warrants and options is based on the Black-Scholes option pricing model and the fair value of the PBF LLC Series B units is estimated based on a Monte Carlo simulation model. The estimated fair value is amortized as stock-based compensation expense on a straight-line method over the vesting period and included in General and administrative expense with forfeitures recognized in the period they occur.
The Company grants performance share unit awards and performance unit awards to certain key employees. Performance awards granted to employees are based on a three-year performance cycle having a single measurement period. The payout for each, which ranges from zero to 200%, is based on the relative ranking of the total shareholder return (“TSR”) of PBF Energy’s common stock as compared to the TSR of a selected group of industry peer companies over an average of four measurement periods. The performance share unit awards and performance unit awards are each measured at fair value based on Monte Carlo simulation models. The performance share unit awards will be settled in PBF Energy Class A common stock and are accounted for as equity awards and the performance unit awards will be settled in cash and are accounted for as liability awards.
Income Taxes
Income Taxes
As a result of the PBF Energy’s acquisition of PBF LLC Series A Units or exchanges of PBF LLC Series A Units for PBF Energy Class A common stock, PBF Energy expects to benefit from amortization and other tax deductions reflecting the step up in tax basis in the acquired assets. Those deductions will be allocated to PBF Energy and will be taken into account in reporting PBF Energy’s taxable income. As a result of a federal income tax election made by PBF LLC, applicable to a portion of PBF Energy’s acquisition of PBF LLC Series A Units, the income tax basis of the assets of PBF LLC, underlying a portion of the units PBF Energy acquired, has been adjusted based upon the amount that PBF Energy paid for that portion of its PBF LLC Series A Units. PBF Energy entered into a tax receivable agreement with the PBF LLC Series A and PBF LLC Series B unitholders (the “Tax Receivable Agreement”), which provides for the payment by PBF Energy equal to 85% of the amount of the benefits, if any, that PBF Energy is deemed to realize as a result of (i) increases in tax basis and (ii) certain other tax benefits related to entering into the Tax Receivable Agreement, including tax benefits attributable to payments under the Tax Receivable Agreement. As a result of these transactions, PBF Energy’s tax basis in its share of PBF LLC’s assets will be higher than the book basis of these same assets. This resulted in a deferred tax asset of $141.8 million as of December 31, 2025.
Deferred taxes are calculated using a liability method, whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences represent the differences between reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effect of changes in tax laws and rates on the date of enactment. PBF Energy recognizes tax benefits for uncertain tax positions only if it is more likely than not that the position is sustainable based on its technical merits. Interest and penalties on uncertain tax positions are included as a component of the provision for income taxes on the Consolidated Statements of Operations. The Company assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of existing deferred tax assets. On the basis of this evaluation, a valuation allowance is recorded to recognize only the portion of deferred tax assets that are more likely than not to be realized. The amount of the deferred tax assets considered realizable, however, could be adjusted if estimates of future taxable income during the carryover period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as PBF Energy’s projections for future taxable income.
The federal tax returns for all years since 2021 and state tax returns for all years since 2021 (see “Note 18 - Income Taxes”) are subject to examination by the respective tax authorities.
Net Income Per Share
Net Income Per Share
Net income per share is calculated by dividing the net income available to PBF Energy Class A common stockholders by the weighted average number of shares of PBF Energy Class A common stock outstanding during the period. Diluted net income per share is calculated by dividing the net income available to PBF Energy Class A common stockholders, adjusted for the net income attributable to the noncontrolling interest and the assumed income tax expense thereon, by the weighted average number of PBF Energy Class A common shares outstanding during the period adjusted to include the assumed exchange of all PBF LLC Series A units outstanding for PBF Energy Class A common stock, if applicable under the if converted method, and the potentially dilutive effect of outstanding options to purchase shares of PBF Energy Class A common stock, performance share awards and options and warrants to purchase PBF LLC Series A Units, subject to forfeiture utilizing the treasury stock method.
Pension and Other Post-Retirement Benefits
Pension and Other Post-Retirement Benefits
The Company recognizes an asset for the overfunded status or a liability for the underfunded status of its pension and post-retirement benefit plans. The funded status is recorded within Other long-term liabilities or Other non-current assets. Changes in the plans’ funded status are recognized in other comprehensive income in the period the change occurs.
Fair Value Measurement
Fair Value Measurement
A fair value hierarchy (Level 1, Level 2, or Level 3) is used to categorize fair value amounts based on the quality of inputs used to measure fair value. Accordingly, fair values derived from Level 1 inputs utilize quoted prices in active markets for identical assets or liabilities. Fair values derived from Level 2 inputs are based on quoted prices for similar assets and liabilities in active markets, and inputs other than quoted prices that are either directly or indirectly observable for the asset or liability. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.
The Company uses appropriate valuation techniques based on the available inputs to measure the fair values of its applicable assets and liabilities. When available, the Company measures fair value using Level 1 inputs because they generally provide the most reliable evidence of fair value. In some valuations, the inputs may fall into different levels in the hierarchy. In these cases, the asset or liability level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurements.
Financial Instruments
Financial Instruments
The estimated fair value of financial instruments has been determined based on the Company’s assessment of available market information and appropriate valuation methodologies. The Company’s non-derivative financial instruments that are included in current assets and current liabilities are recorded at cost in the Consolidated Balance Sheets. The estimated fair value of these financial instruments approximates their carrying value due to their short-term nature. Derivative instruments are recorded at fair value in the Consolidated Balance Sheets.
The Company’s commodity contracts are measured and recorded at fair value using Level 1 inputs based on quoted prices in an active market, Level 2 inputs based on quoted market prices for similar instruments, or Level 3 inputs based on third-party sources and other available market based data. The Company’s catalyst obligations and derivatives related to the Company’s crude oil and feedstocks and refined product purchase obligations are measured and recorded at fair value using Level 2 inputs on a recurring basis, based on observable market prices for similar instruments.
Derivative Instruments
Derivative Instruments
The Company is exposed to market risk, primarily related to changes in commodity prices for the crude oil and feedstocks used in the refining process as well as the prices of the refined products sold, and the risk associated with the price of credits needed to comply with various governmental and regulatory environmental compliance programs. The accounting treatment for commodity and environmental compliance contracts depends on the intended use of the particular contract and on whether or not the contract meets the definition of a derivative.
All derivative instruments, not designated as normal purchases or sales, are recorded in the Consolidated Balance Sheets as either assets or liabilities measured at their fair values. Changes in the fair value of derivative instruments that either are not designated or do not qualify for hedge accounting treatment or normal purchase or normal sale accounting are recognized in earnings. Contracts qualifying for the normal purchase and sales exemption are accounted for upon settlement. Cash flows related to derivative instruments that are not designated or do not qualify for hedge accounting treatment are included in operating activities.
The Company designates certain derivative instruments as fair value hedges of a particular risk associated with a recognized asset or liability. At the inception of the hedge designation, the Company documents the relationship between the hedging instrument and the hedged item, as well as its risk management objective and strategy for undertaking various hedge transactions. Derivative gains and losses related to these fair value hedges, including hedge ineffectiveness, are recorded in cost of sales along with the change in fair value of the hedged asset or liability attributable to the hedged risk. Cash flows related to derivative instruments that are designated as fair value hedges are included in operating activities.
Economic hedges are hedges not designated as fair value or cash flow hedges for accounting purposes that are used to (i) manage price volatility in certain refinery feedstock and refined product inventories, and (ii) manage price volatility in certain forecasted refinery feedstock purchases and refined product sales. These instruments are recorded at fair value and changes in the fair value of the derivative instruments are recognized currently in cost of sales.
Derivative accounting is complex and requires management judgment in the following respects: identification of derivatives and embedded derivatives, determination of the fair value of derivatives, documentation of hedge relationships, assessment and measurement of hedge ineffectiveness and election and designation of the normal purchases and sales exemption. All of these judgments, depending upon their timing and effect, can have a significant impact on the Company’s earnings.
Recently Adopted and Issued Accounting Pronouncements
Recently Adopted Accounting Pronouncements
In November 2023, FASB issued Accounting Standard Update (“ASU”) 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures.” The amendments in this ASU improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The Company’s adoption of this guidance in December 2024 resulted in additional disclosure requirements but did not have a significant impact on its Consolidated Financial Statements.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) - Improvements to Income Tax Disclosures” which focuses on the rate reconciliation and income taxes paid. This ASU requires a public business entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The guidance applies to all entities subject to income taxes and is effective for annual periods beginning after December 15, 2024. The Company adopted this standard for the year ended December 31, 2025. See “Note 18 - Income Taxes” for additional information.
Recently Issued Accounting Pronouncements
In November 2024, the FASB issued ASU 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”) which introduces new disclosure requirements aimed at enhancing the transparency of expense information presented in the financial statements. Specifically, it mandates that public business entities disaggregate certain expense captions presented on the face of the Consolidated Statements of Operations into specified natural expense categories within the notes to the financial statements. For public business entities, the amendments are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual periods, with early adoption permitted. An entity may apply the amendments in this ASU prospectively or retrospectively. The Company is currently evaluating the impact of adopting ASU 2024-03 on its consolidated financial statements. While the Company does not anticipate that the adoption of this ASU will have a material impact on its Consolidated Financial Statements, it will result in additional disclosure requirements in the notes to its financial statements. The Company will continue to monitor any further guidance or interpretations by the FASB related to this ASU and will provide updates in future filings.
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Property, Plant and Equipment, Useful Lives
Depreciation is computed using the straight-line method over the following estimated useful lives:
Computers, furniture and fixtures
3-7 years
Leasehold improvements
20 years
Process units and equipment
5-25 years
Pipeline and equipment
5-25 years
Buildings
25 years
Railcars
50 years
v3.25.4
INVENTORIES (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory
Inventories consisted of the following:
(in millions)December 31, 2025December 31, 2024
Crude oil and feedstocks$1,438.0 $1,232.7 
Refined products and blendstocks1,260.5 1,194.6 
Warehouse stock and other177.6 168.0 
2,876.1 2,595.3 
Lower of cost or market adjustment(313.0)— 
Total inventories$2,563.1 $2,595.3 
v3.25.4
PROPERTY, PLANT AND EQUIPMENT, NET (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Summary of Property, Plant and Equipment
Property, plant and equipment, net consisted of the following:
(in millions)December 31,
2025		December 31,
2024
Processing units, pipelines and equipment$5,839.3 $5,727.4 
Construction in progress1,073.5 507.6 
Land519.2 527.9 
Computers, furniture and fixtures268.5 258.3 
Buildings and leasehold improvements210.4 212.1 
7,910.9 7,233.3 
Less—Accumulated depreciation(2,393.1)(2,165.6)
Total property, plant and equipment, net$5,517.8 $5,067.7 
v3.25.4
DEFERRED CHARGES AND OTHER ASSETS, NET (Tables)
 12 Months Ended
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Deferred Charges and Other Assets, Net
Deferred charges and other assets, net consisted of the following:
(in millions)
December 31,
2025		December 31,
2024
Deferred turnaround costs, net$1,131.7 $1,086.6 
Catalyst, net (a)232.9 191.1 
Environmental credits42.5 42.5 
Linefill34.2 27.4 
Pension plan assets 18.6 19.4 
Other4.4 12.5 
Total deferred charges and other assets, net$1,464.3 $1,379.5 
(a) Catalyst, net includes approximately $115.0 million of indefinite-lived precious metal catalysts as of both December 31, 2025 and December 31, 2024.
v3.25.4
ACCRUED EXPENSES (Tables)
 12 Months Ended
Dec. 31, 2025
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses
Accrued expenses consisted of the following:
(in millions)
December 31,
2025		December 31,
2024
Inventory-related accruals$1,351.5 $1,398.8 
Renewable energy credit and emissions obligations (a)
574.8 465.9 
Accrued transportation costs136.6 175.2 
Accrued capital expenditures126.4 52.7 
Excise and sales tax payable92.8 150.7 
Accrued utilities82.6 71.5 
Accrued salaries and benefits61.4 23.9 
Accrued refinery maintenance and support costs56.7 45.5 
Accrued interest53.8 29.5 
Accrued purchases - SBR39.4 47.8 
Current finance lease liabilities12.2 11.2 
Environmental liabilities 9.7 9.7 
Other65.0 51.1 
Total accrued expenses$2,662.9 $2,533.5 
(a) The Company is subject to obligations to purchase RINs required to comply with RFS. The Company’s overall RINs obligation is based on a percentage of domestic shipments of on-road fuels as established by the EPA. To the degree the Company is unable to blend the required amount of biofuels to satisfy its RINs obligation, RINs must be purchased on the open market to avoid penalties and fines. The Company records its RINs obligation on a net basis in Accrued expenses when its RINs liability is greater than the amount of RINs earned and purchased in a given period and in Prepaid and other current assets when the amount of RINs earned and purchased is greater than the RINs liability. In addition, the Company is subject to obligations to comply with federal and state legislative and regulatory measures, including regulations in the state of California pursuant to Assembly Bill 32 (“AB 32”), to address environmental compliance and greenhouse gas (“GHG”) and other emissions. These requirements include incremental costs to operate and maintain the Company’s facilities as well as to implement and manage new emission controls and programs. Renewable energy credit and emissions obligations fluctuate with the volume of applicable product sales and timing of credit purchases. From time to time, the Company enters into forward purchase commitments in order to acquire its renewable energy and emissions credits at fixed prices. The Company’s RIN obligations will be settled in accordance with established regulatory deadlines. The majority of the Company’s current AB 32 liability is part of an ongoing triennial period program through 2026 which will be settled in 2027.
v3.25.4
CREDIT FACILITIES AND DEBT (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Summary of Long-term Debt Outstanding
Debt outstanding consisted of the following:
(in millions)December 31,
2025		December 31,
2024
6.00% senior unsecured notes due 2028 (“2028 6.00% Senior Notes”)
$801.6 $801.6 
9.875% senior unsecured notes due 2030 (“2030 9.875% Senior Notes”)
800.0 — 
7.875% senior unsecured notes due 2030 (“2030 7.875% Senior Notes”)
500.0 500.0 
Revolving Credit Facility100.0 200.0 
2,201.6 1,501.6 
Unamortized deferred financing costs (41.0)(41.6)
Unamortized discount(12.3)(2.7)
Long-term debt$2,148.3 $1,457.3 
Schedule of Debt Maturing in the Next Five Years and Thereafter
Debt maturing in the next five years and thereafter is as follows (in millions):
Year Ending December 31,(in millions)
2026$— 
2027— 
2028901.6 
2029— 
20301,300.0 
Thereafter— 
Total debt outstanding$2,201.6 
v3.25.4
RELATED PARTY TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
A summary of the Company’s related party transactions with SBR is as follows:
Year Ended December 31,
(in millions)202520242023
Transactions under commercial agreements:
Sales $55.8 $39.7 $9.1 
Purchases(430.7)(323.5)(244.4)
Reimbursements under related party agreements:
Operating Agreement 136.2 163.7 62.8 
Omnibus Agreement4.0 4.1 — 
CAUSA 7.7 6.6 — 
Total lease expense under related party agreements(8.1)(4.1)— 
v3.25.4
COMMITMENTS AND CONTINGENCIES (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Unrecorded Unconditional Purchase Obligations
The fixed and determinable amounts related to obligations under these agreements are as follows (in millions):
Year Ending December 31,
2026$92.0 
202745.9 
202842.2 
202940.4 
203040.0 
Thereafter272.8 
Total obligations$533.3 
v3.25.4
LEASES (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Assets and Liabilities, Lessee
The table below presents the lease related assets and liabilities recorded on the Company’s Consolidated Balance Sheets as of December 31, 2025 and December 31, 2024:
(in millions)Classification on the Balance SheetDecember 31, 2025December 31, 2024
Assets
Operating lease assetsLease right of use assets$725.7 $802.4 
Finance lease assetsLease right of use assets34.0 42.9 
Total lease right of use assets$759.7 $845.3 
Liabilities
Current liabilities:
Operating lease liabilitiesCurrent operating lease liabilities$184.4 $187.8 
Finance lease liabilitiesAccrued expenses12.2 11.2 
Noncurrent liabilities:
Operating lease liabilitiesLong-term operating lease liabilities543.0 622.2 
Finance lease liabilitiesLong-term financing lease liabilities25.8 35.4 
Total lease liabilities$765.4 $856.6 
Summary of Lease Cost
The table below presents certain information related to costs for the Company’s leases for the year ended December 31, 2025 and December 31, 2024:
Lease Costs (in millions)
December 31,
2025		December 31,
2024
Components of total lease costs:
Finance lease costs
Amortization of right of use assets$11.4 $14.0 
Interest on lease liabilities2.9 3.6 
Operating lease costs321.7 289.6 
Short-term lease costs69.7 78.7 
Variable lease costs39.2 27.0 
Sub-lease income(2.9)(3.0)
Total lease costs$442.0 $409.9 
Summary of Cash Flow Information
The table below presents supplemental cash flow information related to leases for the year ended December 31, 2025 and December 31, 2024 (in millions):
Years Ended December 31,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases$327.4 $289.1 
Operating cash flows for finance leases2.9 3.6 
Financing cash flows for finance leases11.2 12.2 
Supplemental non-cash quantification of assets acquired or remeasured under operating and financing leases156.2 288.6 
Lease Term and Discount Rate
The table below presents certain information related to the weighted average remaining lease term and weighted average discount rate for the Company’s leases as of December 31, 2025:
Weighted average remaining lease term - operating leases8.8 years
Weighted average remaining lease term - finance leases2.9 years
Weighted average discount rate - operating leases13.9 %
Weighted average discount rate - finance leases7.2 %
Schedule of Operating Lease Maturity
The table below reconciles the fixed component of the undiscounted cash flows for each of the periods presented to the lease liabilities recorded on the Consolidated Balance Sheets as of December 31, 2025:
Amounts due in the year ended December 31, (in millions)
Finance LeasesOperating Leases
2026$14.5 $268.7 
202714.5 147.5 
202811.8 113.2 
20291.4 98.7 
2030— 96.3 
Thereafter— 532.6 
Total minimum lease payments42.2 1,257.0 
Less: effect of discounting4.2 529.6 
Present value of future minimum lease payments38.0 727.4 
Less: current obligations under leases12.2 184.4 
Long-term lease obligations$25.8 $543.0 
Schedule of Finance Lease Maturity
The table below reconciles the fixed component of the undiscounted cash flows for each of the periods presented to the lease liabilities recorded on the Consolidated Balance Sheets as of December 31, 2025:
Amounts due in the year ended December 31, (in millions)
Finance LeasesOperating Leases
2026$14.5 $268.7 
202714.5 147.5 
202811.8 113.2 
20291.4 98.7 
2030— 96.3 
Thereafter— 532.6 
Total minimum lease payments42.2 1,257.0 
Less: effect of discounting4.2 529.6 
Present value of future minimum lease payments38.0 727.4 
Less: current obligations under leases12.2 184.4 
Long-term lease obligations$25.8 $543.0 
v3.25.4
NONCONTROLLING INTERESTS (Tables)
 12 Months Ended
Dec. 31, 2025
Schedule of Stockholders Equity
The following tables summarize the changes in equity for the controlling and noncontrolling interests of PBF Energy for the years ended December 31, 2025, 2024 and 2023:
(in millions)
PBF Energy
Inc. Equity		Noncontrolling
Interest in PBF LLC		Noncontrolling Interest in PBF HoldingTotal Equity
Balance at January 1, 2025$5,544.2 $121.7 $12.7 $5,678.6 
Comprehensive income (loss)
(140.7)(2.1)0.1 (142.7)
Dividends and distributions(127.8)(0.8)— (128.6)
Stock-based compensation expense41.0 — — 41.0 
Transactions in connection with stock-based compensation plans17.6 — — 17.6 
Treasury stock purchases(14.8)— — (14.8)
Other— (1.2)— (1.2)
Balance at December 31, 2025$5,319.5 $117.6 $12.8 $5,449.9 
(in millions)
PBF Energy
Inc. Equity		Noncontrolling
Interest in PBF LLC		Noncontrolling Interest in PBF HoldingTotal Equity
Balance at January 1, 2024$6,488.3 $129.9 $13.1 $6,631.3 
Comprehensive income (loss)
(529.5)(6.0)(0.4)(535.9)
Dividends and distributions(119.9)(1.6)— (121.5)
Effects of change in deferred tax assets and liabilities and tax receivable agreement obligation(0.6)— — (0.6)
Stock-based compensation expense35.2 — — 35.2 
Transactions in connection with stock-based compensation plans24.7 — — 24.7 
Exchanges of PBF Energy Company LLC Series A Units for PBF Energy Class A common stock0.6 (0.6)— — 
Treasury stock purchases(354.6)— — (354.6)
Balance at December 31, 2024$5,544.2 $121.7 $12.7 $5,678.6 
(in millions)
PBF Energy
Inc. Equity		Noncontrolling
Interest in PBF LLC		Noncontrolling Interest in PBF HoldingTotal Equity
Balance at January 1, 2023$4,929.2 $114.6 $12.2 $5,056.0 
Comprehensive income
2,129.7 20.6 0.9 2,151.2 
Dividends and distributions(106.6)(5.3)— (111.9)
Effects of change in deferred tax assets and liabilities and tax receivable agreement obligation(4.5)— — (4.5)
Stock-based compensation expense35.8 — — 35.8 
Transactions in connection with stock-based compensation plans44.5 — — 44.5 
Treasury stock purchases(539.9)— — (539.9)
Other0.1 — — 0.1 
Balance at December 31, 2023$6,488.3 $129.9 $13.1 $6,631.3 
Schedule of Comprehensive Income (Loss) The following table summarizes the allocation of total comprehensive income (loss) of PBF Energy between the controlling and noncontrolling interests for the year ended December 31, 2025:
(in millions)
Attributable to
PBF Energy Inc. stockholders		Noncontrolling
Interests		Total
Net income (loss)$(158.5)$(2.0)$(160.5)
Other comprehensive income:
Unrealized gain on available for sale securities1.3 — 1.3 
Amortization of defined benefit plans unrecognized net gain16.5 — 16.5 
Total other comprehensive income17.8 — 17.8 
Total comprehensive income (loss)$(140.7)$(2.0)$(142.7)
The following table summarizes the allocation of total comprehensive income (loss) of PBF Energy between the controlling and noncontrolling interests for the year ended December 31, 2024:
(in millions)
Attributable to
PBF Energy Inc. stockholders		Noncontrolling
Interest		Total
Net income (loss)$(533.8)$(6.4)$(540.2)
Other comprehensive income (loss):
Unrealized loss on available for sale securities(0.3)— (0.3)
Amortization of defined benefit plans unrecognized net gain4.6 — 4.6 
Total other comprehensive income4.3 — 4.3 
Total comprehensive income (loss)$(529.5)$(6.4)$(535.9)
The following table summarizes the allocation of total comprehensive income of PBF Energy between the controlling and noncontrolling interests for the year ended December 31, 2023:
(in millions)
Attributable to
PBF Energy Inc. stockholders		Noncontrolling
Interest		Total
Net income$2,140.5 $21.5 $2,162.0 
Other comprehensive income (loss):
Unrealized loss on available for sale securities(0.4)— (0.4)
Amortization of defined benefit plans unrecognized net loss(10.4)— (10.4)
Total other comprehensive income (loss)(10.8)— (10.8)
Total comprehensive income$2,129.7 $21.5 $2,151.2 
PBF LLC  
Schedule of Noncontrolling Interest
The noncontrolling interest ownership percentages in PBF LLC as of the years ended December 31, 2025, 2024 and 2023 are calculated as follows:
Holders of
PBF LLC Series
A Units		Outstanding Shares
of PBF Energy
Class A
Common
Stock		Total
December 31, 2023862,780120,440,620121,303,400
0.7%99.3%100.0%
December 31, 2024862,780115,311,992116,174,772
0.7%99.3%100.0%
December 31, 2025862,780116,937,076117,799,856
0.7%99.3%100.0%
v3.25.4
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense included in general and administrative expenses consisted of the following:
 Years Ended December 31,
(in millions)202520242023
PBF Energy options$0.0 $4.5 $11.9 
PBF Energy restricted shares31.4 21.7 17.9 
PBF Energy performance awards7.6 18.1 21.7 
Total stock-based compensation expense$39.0 $44.3 $51.5 
Schedule of Share-Based Payment Awards, Performance Awards, Valuation Assumptions
The grant date fair value was calculated using a Monte Carlo valuation model with the following assumptions:
December 31, 2025December 31, 2024December 31, 2023
Expected life (in years)
3.18
2.82 - 3.04
2.86 - 3.18
Expected volatility
63.25%
53.66% - 56.02%
56.68% - 59.98%
Dividend yield
3.34%
2.07% - 3.93%
1.73% - 1.80%
Risk-free rate of return
3.47%
4.17% - 4.35%
4.40% - 4.75%
Weighted average grant-date fair value per PSU$40.25 $34.04 $56.35 
Summary of Share-Based Compensation Activity
The following table summarizes activity for PBF Energy options for 2025:
Number of
PBF Energy
Class A
Common
Stock Options		Weighted
Average
Exercise Price		Weighted
Average
Remaining
Contractual
Life
(in years)
Stock-based awards, outstanding at January 1, 20256,430,875 $24.36 4.18
Exercised(983,802)23.22 — 
Forfeited(63,990)29.32 — 
Outstanding at December 31, 20255,383,083 $24.51 3.10
Exercisable and vested at December 31, 20255,383,083 $24.51 3.10
Total expected to vest as of December 31, 2025— $— — 
The following table summarizes activity for PBF Energy restricted stock:
Number of
PBF Energy
Restricted Class A
Common Stock		Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 2025
1,923,895 $32.60 
Granted846,855 31.18 
Vested(798,280)34.56 
Forfeited(60,154)30.23 
Nonvested at December 31, 2025
1,912,316 $31.24 
Unrecognized compensation expense related to PBF Energy Restricted Class A common stock at December 31, 2025 was $32.2 million, which will be recognized from 2026 through 2028.
The following table reflects activity related to our restricted stock:
December 31, 2025December 31, 2024December 31, 2023
Weighted-average grant-date fair value per share of restricted stock granted$31.18 $28.60 $44.90 
Fair value of restricted stock vested (in millions)
$27.6 $15.5 $11.2 
The following table summarizes activity for PBF Energy performance share awards:
Number of
PBF Energy
Performance Share Units (“PSU”)		Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 2025612,410 $44.14 
Granted228,771 40.25 
Vested(5,212)39.70 
Forfeited(186,927)46.85 
Nonvested at December 31, 2025649,042 $42.02 
PBF Energy | Performance Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Share-Based Compensation Activity
The following table summarizes activity for PBF Energy performance unit awards:
Number of
PBF Energy
Performance Units
Nonvested at January 1, 202546,004,030 
Granted16,741,373 
Vested(350,027)
Forfeited(15,367,121)
Nonvested at December 31, 202547,028,255 
v3.25.4
EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Changes in Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The changes in the benefit obligation, the changes in fair value of plan assets, and the funded status of the Company’s Pension and Post-Retirement Medical Plans as of and for the years ended December 31, 2025 and 2024 were as follows:
Pension PlansPost-Retirement
Medical Plan
(in millions)2025202420252024
Change in benefit obligation:
Benefit obligation at beginning of year$489.8 $429.7 $15.6 $19.6 
Service cost53.2 53.4 0.7 0.9 
Interest cost25.0 20.3 0.8 0.9 
Benefit payments(32.5)(15.5)(2.7)(2.4)
Actuarial loss (gain)11.5 1.9 2.0 (3.4)
Projected benefit obligation at end of year$547.0 $489.8 $16.4 $15.6 
Change in plan assets:
Fair value of plan assets at beginning of year$394.7 $349.3 $— $— 
Actual return on plan assets59.8 25.9 — — 
Benefits paid(32.4)(15.5)(2.7)(2.4)
Employer contributions35.1 35.0 2.7 2.4 
Fair value of plan assets at end of year$457.2 $394.7 $— $— 
Reconciliation of funded status:
Fair value of plan assets at end of year$457.2 $394.7 $— $— 
Less projected benefit obligation at end of year547.0 489.8 16.4 15.6 
Funded status at end of year$(89.8)$(95.1)$(16.4)$(15.6)
Schedule of Expected Benefit Payments
Benefit payments, which reflect expected future services that the Company expects to pay are as follows for the years ended December 31:
(in millions)Pension BenefitsPost-Retirement
Medical Plan
2026$41.3 $1.6 
202736.2 1.7 
202840.5 1.8 
202945.1 1.6 
203047.1 1.6 
Years 2031-2035296.9 7.8 
Schedule of Net Periodic Benefit Cost
The components of net periodic benefit cost for the years ended December 31, 2025, 2024 and 2023 were as follows: 
Pension BenefitsPost-Retirement
Medical Plan
(in millions)202520242023202520242023
Components of net periodic benefit cost:
Service cost$53.2 $53.4 $48.1 $0.7 $0.9 $0.5 
Interest cost25.0 20.3 17.7 0.8 0.9 0.7 
Expected return on plan assets(27.6)(24.4)(19.2)— — — 
Amortization of prior service cost and actuarial loss0.2 0.3 — 0.3 0.5 0.1 
Net periodic benefit cost$50.8 $49.6 $46.6 $1.8 $2.3 $1.3 
Schedule of Pre-Tax Amounts Recognized in Other Comprehensive Income (Loss)
The pre-tax amounts recognized in other comprehensive loss (income) for the years ended December 31, 2025, 2024 and 2023 were as follows: 
Pension BenefitsPost-Retirement
Medical Plan
(in millions)202520242023202520242023
Prior service costs$— $— $— $— $— $6.1 
Net actuarial (gain) loss(20.7)0.4 9.5 2.0 (3.3)(0.2)
Amortization of losses and prior service cost(0.2)(0.3)(0.1)(0.3)(0.5)(0.1)
Total changes in other comprehensive (income) loss$(20.9)$0.1 $9.4 $1.7 $(3.8)$5.8 
Schedule of Pre-Tax Amounts in Accumulated Other Comprehensive Loss Not Yet Recognized as Components of Net Periodic Costs
The pre-tax amounts in accumulated other comprehensive (loss) income as of December 31, 2025 and 2024 that have not yet been recognized as components of net periodic costs were as follows: 
Pension BenefitsPost-Retirement
Medical Plan
(in millions)2025202420252024
Prior service costs$(0.2)$(0.3)$(6.5)$(7.6)
Net actuarial (loss) gain(3.7)(24.6)10.8 13.5 
Total$(3.9)$(24.9)$4.3 $5.9 
Schedule of Assumptions Used
The weighted average assumptions used to determine the benefit obligations as of December 31, 2025 and 2024 were as follows: 
 Qualified PlanSupplemental PlanPost-Retirement Medical Plan
202520242025202420252024
Discount rate - benefit obligations5.54 %5.63 %5.27 %5.54 %5.04 %5.39 %
Rate of compensation increase4.55 %4.55 %5.00 %5.00 %— — 
The weighted average assumptions used to determine the net periodic benefit costs for the years ended December 31, 2025, 2024 and 2023 were as follows:
Qualified PlanSupplemental PlanPost-Retirement Medical Plan
202520242023202520242023202520242023
Discount rates:
Effective rate for service cost5.65%5.00%5.22%5.57%4.94%5.24%5.62%5.00%5.27%
Effective rate for interest cost5.32%4.90%5.14%5.20%4.90%5.14%5.10%4.82%5.05%
Effective rate for interest on service cost5.39%4.89%5.14%5.31%4.84%5.12%5.50%4.93%5.21%
Cash balance interest credit rate 4.63%3.99%4.04%4.63%3.99%4.04%N/AN/AN/A
Expected long-term rate of return on plan assets6.90%6.80%6.75%N/AN/AN/AN/AN/AN/A
Rate of compensation increase4.55%4.55%4.27%5.00%4.50%4.50%N/AN/AN/A
Schedule of Assumed Health Care Cost Trend Rates
The assumed health care cost trend rates as of December 31, 2025 and 2024 were as follows: 
 Post-Retirement
Medical Plan
20252024
Health care cost trend rate assumed for next year6.8 %5.9 %
Rate to which the cost trend rate was assumed to decline (the ultimate trend rate)4.0 %4.0 %
Year that the rate reaches the ultimate trend rate20502049
Schedule of Fair Value of Assets of the Company's Qualified Plan
The table below presents the fair values of the assets of the Company’s Qualified Plan as of December 31, 2025 and 2024 by level of fair value hierarchy. Assets consist of collective trusts and are measured at fair value based on the closing net asset value (“NAV”) as determined by the fund manager and reported daily. As noted above, the Company’s post-retirement medical plan is funded on a pay-as-you-go basis and has no assets. 
 Fair Value Measurements Using
NAV as Practical Expedient
(in millions)20252024
Equities:
Domestic equities$140.4 $121.7 
Developed international equities58.8 46.6 
Global low volatility equities— 7.9 
Emerging market equities24.8 19.2 
Fixed-income211.8 178.6 
Real Estate19.4 18.7 
Cash and cash equivalents2.0 2.0 
Total$457.2 $394.7 
v3.25.4
REVENUES (Tables)
 12 Months Ended
Dec. 31, 2025
REVENUE [Abstract]  
Schedule of Revenues from External Customers for Each Product or Group of Similar Products The following table provides information relating to the Company’s revenues for each product or group of similar products for the periods presented.
Year Ended December 31,
(in millions)202520242023
Refining Segment:
Gasoline and distillates$25,810.6 $28,652.0 $34,002.5 
Feedstocks and other1,354.2 1,449.1 1,640.6 
Asphalt and blackoils1,263.6 1,940.1 1,650.1 
Chemicals539.0 662.8 650.6 
Lubricants330.3 373.9 344.7 
Total Refining Revenue$29,297.7 $33,077.9 $38,288.5 
Logistics Segment:
Logistics Revenue383.5 386.8 384.1 
Total revenue prior to eliminations29,681.2 33,464.7 38,672.6 
Elimination of intercompany revenue(348.9)(349.4)(347.8)
Total Revenues $29,332.3 $33,115.3 $38,324.8 
v3.25.4
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Summary of the Income Tax Provision
The income tax provision in the PBF Energy Consolidated Statements of Operations consists of the following:
Year Ended December 31,
(in millions)202520242023
Current expense (benefit):
Federal$1.7 $(10.6)$140.9 
Foreign— — (0.3)
State2.1 21.4 46.2 
Total current3.8 10.8 186.8 
  
Deferred (benefit) expense:
Federal(48.5)(156.6)387.7 
Foreign3.2 (4.8)3.1 
State(32.6)(77.8)146.2 
Total deferred(77.9)(239.2)537.0 
Total provision for income taxes$(74.1)$(228.4)$723.8 
Schedule of Cash Flow, Supplemental Disclosures
Disclosed below is a summary of income taxes paid (refunds received) by jurisdiction for the year ended December 31, 2025:
Year Ended December 31, 2025
Federal $(71.1)
State and local (6.4)
Foreign — 
Total income tax refund $(77.5)
Schedule of Effective Income Tax Rate Reconciliation
The difference between PBF Energy’s effective income tax rate and the United States statutory rate for the year ended December 31, 2025 is reconciled below:
Year Ended December 31, 2025
$%
Provision at Federal statutory rate$(48.8)21.0 %
Increase (decrease) attributable to flow-through of certain tax adjustments:
State and local income taxes (net of federal income tax) (a)
(22.5)9.7  %
Nondeductible/nontaxable items
Executive compensation 8.0 (3.4)%
Non-taxable incentive income (7.0)3.0 %
Equity compensation(2.5)1.1 %
Other 0.5 (0.2) %
Rate differential from foreign jurisdictions (0.7)0.3  %
Other(1.1)0.4  %
Effective tax rate$(74.1)31.9 %
(a) State and local taxes in California and Louisiana comprise the majority of this category.
The difference between PBF Energy’s effective income tax rate and the United States statutory rate for the years ended December 31, 2024 and December 31, 2023 are reconciled below:
Year Ended December 31,
20242023
Provision at Federal statutory rate21.0  %21.0  %
Increase (decrease) attributable to flow-through of certain tax adjustments:
State income taxes (net of federal income tax)5.0 %5.0 %
Nondeductible/nontaxable items3.3 %(0.5)%
Rate differential from foreign jurisdictions (0.2)%— %
Provision to return adjustment0.2 %(0.1)%
Other0.7 %(0.1)%
Effective tax rate30.0 %25.3 %
Schedule of Income Tax
For financial reporting purposes, income (loss) before income taxes attributable to PBF Energy Inc. stockholders includes the following components:
Year Ended December 31,
(in millions)202520242023
United States income (loss)$(244.3)$(739.8)$2,852.4 
Foreign income (loss)11.7 (22.4)11.9 
Total income (loss) before income taxes attributable to PBF Energy Inc. stockholders$(232.6)$(762.2)$2,864.3 
Summary of the Components of Deferred Tax Assets and Liabilities
A summary of the components of PBF Energy’s deferred tax assets and deferred tax liabilities consists of the following: 
(in millions)December 31, 2025December 31, 2024
Deferred tax assets
Purchase interest step-up$141.8 $165.0 
Inventory26.0 — 
Pension, employee benefits and compensation51.5 53.3 
Net operating loss carry forwards532.4 297.5 
Environmental liabilities38.6 39.0 
Lease liabilities 293.6 317.4 
Other50.4 50.7 
Total deferred tax assets1,134.3 922.9 
 
Deferred tax liabilities
Property, plant and equipment1,323.9 1,122.0 
Inventory— 60.3 
Right of use assets292.2 314.5 
Equity method investment in SBR 259.6 249.6 
Other22.2 12.5 
Total deferred tax liabilities1,897.9 1,758.9 
Net deferred tax liability$(763.6)$(836.0)
Summary of Income Tax Examinations
Income tax years that remain subject to examination by material jurisdictions, where an examination has not already concluded are all years including and subsequent to:
United States
Federal2021
New Jersey2021
Michigan2021
Delaware2022
Indiana2022
Pennsylvania2022
New York2022
Louisiana2022
California2021
v3.25.4
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Year Ended December 31, 2025
(in millions)
RefiningLogisticsCorporateEliminationsConsolidated Total
Revenues$29,297.7 $383.5 $— $(348.9)$29,332.3 
Cost of products and other 26,950.2 8.3 — (331.5)26,627.0 
Operating expenses (income)2,547.0 116.5 — (17.5)2,646.0 
Depreciation and amortization expense594.2 36.1 14.4 — 644.7 
Other segment (income) expenses, net (1)
(831.4)(86.9)387.2 — (531.1)
Income (loss) from operations37.6 309.6 (401.5)— (54.3)
Interest (income) expense, net(27.7)(1.6)210.9 — 181.6 
Capital expenditures (3)
598.1 17.0 13.8 — 628.9 
Year Ended December 31, 2024
RefiningLogistics Corporate  EliminationsConsolidated Total
Revenues$33,077.9 $386.8 $— $(349.4)$33,115.3 
Cost of products and other30,590.4 8.3 — (332.0)30,266.7 
Operating expenses (income)2,487.8 135.8 — (17.4)2,606.2 
Depreciation and amortization expense578.4 36.2 13.2 — 627.8 
Other segment expenses, net (1) (2)
0.9 7.3 305.4 — 313.6 
Income (loss) from operations (2)
(579.5)199.1 (318.6)— (699.0)
Interest (income) expense, net(14.1)(1.9)88.0 — 72.0 
Capital expenditures (3)
994.8 6.5 7.0 — 1,008.3 
Year Ended December 31, 2023
RefiningLogisticsCorporate  EliminationsConsolidated Total
Revenues$38,288.5 $384.1 $— $(347.8)$38,324.8 
Cost of products and other33,000.8 — — (329.5)32,671.3 
Operating expenses (income)2,581.3 131.9 — (18.3)2,694.9 
Depreciation and amortization expense523.9 36.1 11.5 — 571.5 
Other segment (income) expenses, net (1) (2)
(1.1)10.0 (573.3)— (564.4)
Income from operations (2)
2,183.6 206.1 561.8 — 2,951.5 
Interest (income) expense, net(4.8)2.3 66.3 — 63.8 
Capital expenditures (3)
1,152.9 11.9 8.8 — 1,173.6 
Balance at December 31, 2025
RefiningLogisticsCorporate  EliminationsConsolidated Total
Total assets (4)
$11,469.1 $683.4 $906.3 $(38.9)$13,019.9 
Balance at December 31, 2024
RefiningLogisticsCorporate  EliminationsConsolidated Total
Total assets (4)
$10,945.5 $781.9 $1,015.4 $(39.6)$12,703.2 
(1) Other segment (income) expenses, net include General and administrative expenses (excluding depreciation and amortization expenses), Gain on insurance recoveries, net, Change in fair value of contingent consideration, net, Equity loss in investee, Loss (gain) on formation of SBR equity method investment, and (Gain) loss on sale of assets.
(2) Income (loss) from operations and Other segment (income) expenses, net within Corporate for the year ended December 31, 2024, included a $8.7 million reduction of the gain associated with the formation of the SBR equity method investment.
(3) For the year ended December 31, 2025, the Company’s refining segment Capital expenditures exclude $532.9 million of costs associated with the rebuild of units damaged by the Martinez refinery fire. For the years ended December 31, 2024 and December 31, 2023, the Company’s refining segment includes $5.6 million and $312.7 million, respectively, of capital expenditures related to the Renewable Diesel Facility.
(4) As of December 31, 2025 and December 31, 2024, Corporate assets include the Company’s Equity method investment in SBR of $826.3 million and $866.8 million, respectively.
v3.25.4
NET INCOME PER SHARE OF PBF ENERGY (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Computation of basic and diluted net income per common share
The following table sets forth the computation of basic and diluted net income (loss) per share of PBF Energy Class A common stock attributable to PBF Energy for the periods presented:
(in millions, except share and per share amounts)Year Ended December 31,
Basic Earnings Per Share:
202520242023
Allocation of earnings:
Net income (loss) attributable to PBF Energy Inc. stockholders
$(158.5)$(533.8)$2,140.5 
Less: Income allocated to participating securities
0.1 0.1 — 
Income (loss) available to PBF Energy Inc. stockholders - basic
$(158.6)$(533.9)$2,140.5 
Denominator for basic net income (loss) per PBF Energy Class A common share-weighted average shares
114,052,733 116,248,827 124,953,858 
Basic net income (loss) attributable to PBF Energy per Class A common share
$(1.39)$(4.59)$17.13 
Diluted Earnings Per Share:
Numerator:
Income (loss) available to PBF Energy Inc. stockholders - basic
$(158.6)$(533.9)$2,140.5 
Plus: Net income (loss) attributable to noncontrolling interest (1)
(2.1)(6.0)20.5 
Less: Income tax expense (benefit) on net income (loss) attributable to noncontrolling interest (1)
0.6 1.6 (5.3)
Numerator for diluted net income (loss) per Class A common share - net income (loss) attributable to PBF Energy Inc. stockholders (1)
$(160.1)$(538.3)$2,155.7 
Denominator (1):
Denominator for basic net income (loss) per PBF Energy Class A common share-weighted average shares
114,052,733 116,248,827 124,953,858 
Effect of dilutive securities:
Conversion of PBF LLC Series A Units
862,780 862,780 899,519 
Common stock equivalents (2)
— — 4,656,071 
Denominator for diluted net income (loss) per PBF Energy Class A common share-adjusted weighted average shares
114,915,513 117,111,607 130,509,448 
Diluted net income (loss) attributable to PBF Energy Inc. stockholders per Class A common share
$(1.39)$(4.60)$16.52 
 
——————————
(1)    The diluted earnings per share calculation generally assumes the conversion of all outstanding PBF LLC Series A Units to PBF Energy Class A common stock. The net income (loss) attributable to PBF Energy used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income (loss), as well as the corresponding income tax (benefit) expense (based on a 26.0% annualized statutory corporate tax rate for the years ended December 31, 2025, 2024 and 2023, respectively) attributable to the converted units.
(2)    Represents an adjustment to weighted-average diluted shares outstanding to assume the full exchange of common stock equivalents, including options and warrants for PBF LLC Series A Units and PSUs and options for shares of PBF Energy Class A common stock as calculated under the treasury stock method (to the extent the impact of such exchange would not be anti-dilutive). Common stock equivalents exclude the effects of performance share units and options and warrants to purchase 6,771,051, 4,413,417 and 18,431 shares of PBF Energy Class A common stock and PBF LLC Series A units because they are anti-dilutive for the years ended December 31, 2025, 2024 and 2023, respectively. For periods showing a net loss, all common stock equivalents and unvested restricted stock are considered anti-dilutive.
v3.25.4
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The tables below present information about the Company’s financial assets and liabilities measured and recorded at fair value on a recurring basis and indicate the fair value hierarchy of the inputs utilized to determine the fair values as of December 31, 2025 and 2024.
The Company has elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty; however, fair value amounts by hierarchy level are presented on a gross basis in the tables below. The Company may be required to post margin collateral or reclaim cash collateral from derivative counterparties based on contractual terms. At December 31, 2025 and December 31, 2024, the Company had the obligation to receive cash collateral posted against its derivative obligations of $5.7 million and $15.1 million, respectively. Cash collateral related to derivative contracts is recorded net in the Consolidated Balance Sheets. The Company has no derivative contracts that are subject to master netting arrangements that are reflected gross on the Consolidated Balance Sheets.
As of December 31, 2025
Fair Value Hierarchy
(in millions)Level 1Level 2Level 3Total Gross Fair ValueEffect of Counter-party NettingNet Carrying Value on Balance Sheet
Assets:
Money market funds$14.2 $— $— $14.2 N/A$14.2 
Commodity contracts8.2 11.9 — 20.1 (9.7)10.4 
Liabilities:
Commodity contracts9.6 0.1 — 9.7 (9.7)— 
Renewable energy credit and emissions obligations— 574.8 — 574.8 — 574.8 

As of December 31, 2024
Fair Value Hierarchy
(in millions)Level 1Level 2Level 3Total Gross Fair ValueEffect of Counter-party NettingNet Carrying Value on Balance Sheet
Assets:
Money market funds$21.0 $— $— $21.0 N/A$21.0 
Commodity contracts16.0 — — 16.0 (14.0)2.0 
Liabilities:
Commodity contracts14.0 — — 14.0 (14.0)— 
Renewable energy credit and emissions obligations— 465.9 — 465.9 — 465.9 
Schedule of Effect of Significant Unobservable Inputs
The table below summarizes the changes in fair value measurements categorized in Level 3 of the fair value hierarchy, which primarily includes the prior year change in estimated future earnings related to the Martinez Contingent Consideration:
(in millions)December 31,
2024
Balance at beginning of period $21.6 
Settlements(18.8)
Unrealized gain included in earnings(2.8)
Balance at end of period $— 
There were no transfers between levels during the years ended December 31, 2025 or December 31, 2024.
Schedule of Fair Value of Debt
The table below summarizes the carrying value and fair value of debt as of December 31, 2025 and 2024.
December 31, 2025December 31, 2024
(in millions)Carrying
value		Fair
 value		Carrying
 value		Fair
value
2028 6.00% Senior Notes (a)
$801.6 $794.6 $801.6 $765.9 
2030 9.875% Senior Notes (a)
800.0 824.3 — — 
2030 7.875% Senior Notes (a)
500.0 481.3 500.0 490.0 
Revolving Credit Facility (b)
100.0 100.0 200.0 200.0 
2,201.6 2,200.2 1,501.6 1,455.9 
Less - Unamortized deferred financing costs(41.0)n/a(41.6)n/a
Unamortized discount(12.3)n/a(2.7)n/a
Long-term debt$2,148.3 $2,200.2 $1,457.3 $1,455.9 
_________________________
(a) The estimated fair value, categorized as a Level 2 measurement, was calculated based on the present value of future expected payments utilizing implied current market interest rates based on quoted prices of the outstanding senior notes.
(b) The estimated fair value approximates carrying value, categorized as a Level 2 measurement, as these borrowings bear interest based upon short-term floating market interest rates.
v3.25.4
DERIVATIVES (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments
The following tables provide information regarding the fair values of derivative instruments as of December 31, 2025 and December 31, 2024 and the line items in the Consolidated Balance Sheets in which fair values are reflected.
Description
Balance Sheet Location		Fair Value
Asset
(in millions)
Derivatives not designated as hedging instruments:
December 31, 2025:
Commodity contractsAccounts receivable$10.4 
December 31, 2024:
Commodity contractsAccounts receivable$2.0 
Schedule of Derivative Instruments, Gain (Loss) Recognized in Income
The following table provides information regarding gains or losses recognized in income on derivative instruments and the line items in the Consolidated Statements of Operations in which such gains and losses are reflected.
DescriptionLocation of Gain or (Loss) Recognized in
 Income on Derivatives		Gain or (Loss)
Recognized in
Income on Derivatives
(in millions)
Derivatives designated as hedging instruments:
For the year ended December 31, 2025:
Derivatives included within the inventory intermediation agreement obligationsCost of products and other $— 
For the year ended December 31, 2024:
Derivatives included within the inventory intermediation agreement obligationsCost of products and other $— 
For the year ended December 31, 2023:
Derivatives included within the inventory intermediation agreement obligationsCost of products and other $21.0 
Derivatives not designated as hedging instruments:
For the year ended December 31, 2025:
Commodity contractsCost of products and other $0.7 
For the year ended December 31, 2024:
Commodity contractsCost of products and other $12.3 
For the year ended December 31, 2023:
Commodity contractsCost of products and other $38.1 
Hedged items designated in fair value hedges:
For the year ended December 31, 2025:
Crude oil, intermediate and refined product inventoryCost of products and other $— 
For the year ended December 31, 2024:
Crude oil, intermediate and refined product inventoryCost of products and other $— 
For the year ended December 31, 2023:
Crude oil, intermediate and refined product inventoryCost of products and other $(21.0)
v3.25.4
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
reportable_segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Mar. 31, 2025
USD ($)
Description of Business [Line Items]        
Ownership percentage of equity held 100.00% 100.00% 100.00%  
Number of reporting segments | reportable_segment 2      
Gain on insurance recoveries, net $ 832.5 $ 0.0 $ 0.0  
Martinez Fire        
Description of Business [Line Items]        
Insurance deductibles and retentions $ 30.0      
Duration of waiting period before business interruption coverage begins 60 days      
Unusual or infrequent item, or both, insurance proceeds $ 893.5      
Gain on insurance recoveries, net 832.5      
Insurance settlements receivable       $ 61.0
Operating expenses $ 163.7      
St. Bernard Renewables LLC        
Description of Business [Line Items]        
Equity method investment, ownership percentage 50.00%      
PBF Energy Inc. | Class A Common Stock        
Description of Business [Line Items]        
Ownership percentage of equity held 99.30% 99.30% 99.30%  
PBF LLC | Series A Units        
Description of Business [Line Items]        
Ownership percentage of equity held 0.70% 0.70% 0.70%  
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Concentration of Credit Risk) (Details) - Customer Concentration Risk - numberOfCustomer
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revenues    
Concentration Risk [Line Items]    
Number of customers 1 1
Concentration risk, benchmark description 10 10
Accounts Receivables    
Concentration Risk [Line Items]    
Number of customers 1 1
Concentration risk, benchmark description 10 10
Royal Dutch Shell | Revenues    
Concentration Risk [Line Items]    
Concentration risk percentage 13.00% 13.00%
Royal Dutch Shell | Accounts Receivables    
Concentration Risk [Line Items]    
Concentration risk percentage 14.00% 18.00%
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Leases) (Details)
Dec. 31, 2025
Minimum  
Lessee, Lease, Description [Line Items]  
Non-cancelable operating lease term 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Non-cancelable operating lease term 20 years
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Property, Plant, and Equipment) (Details)
Dec. 31, 2025
Computers, Furniture and Fixtures | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 3 years
Computers, Furniture and Fixtures | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 7 years
Leasehold Improvements  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 20 years
Process Units and Equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 5 years
Process Units and Equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 25 years
Pipeline and Equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 5 years
Pipeline and Equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 25 years
Buildings  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 25 years
Railcars  
Property, Plant and Equipment [Line Items]  
Estimated useful lives 50 years
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Deferred Charges and Other Assets, Net) (Details)
 12 Months Ended
Dec. 31, 2025
Minimum  
Finite-Lived Intangible Assets [Line Items]  
Refinery turnaround amortization period 3 years
Intangible assets estimated useful lives 1 year
Maximum  
Finite-Lived Intangible Assets [Line Items]  
Refinery turnaround amortization period 6 years
Intangible assets estimated useful lives 10 years
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Stock-Based Compensation) (Details) - Performance Share Units And Performance Share Awards - PBF Energy
 12 Months Ended 14 Months Ended
Dec. 31, 2025
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Vesting period 3 years 3 years
Minimum    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation, Performance Unit, payout 0.00%  
Maximum    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation, Performance Unit, payout 200.00%  
v3.25.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Income Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounting Policies [Abstract]    
Percent of tax benefit received from increases in tax basis paid to stockholders 85.00%  
Unrealized deferred tax asset $ 141.8 $ 165.0
v3.25.4
CURRENT EXPECTED CREDIT LOSSES (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Credit Loss [Abstract]    
Allowance for doubtful accounts $ 0 $ 0
v3.25.4
INVENTORIES (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Inventory [Line Items]      
Crude oil and feedstocks $ 1,438,000,000 $ 1,232,700,000  
Refined products and blendstocks 1,260,500,000 1,194,600,000  
Warehouse stock and other 177,600,000 168,000,000.0  
Inventory, gross 2,876,100,000 2,595,300,000  
Inventory Adjustments 313,000,000.0 0  
Total inventories 2,563,100,000 2,595,300,000  
Income (loss) from operations (54,300,000) (699,000,000.0) $ 2,951,500,000
Excess of replacement or current costs over stated LIFO value   7,700,000  
Inventory, LIFO reserve, effect on income, net 5,400,000 124,500,000  
Scenario, Adjustment      
Inventory [Line Items]      
Income (loss) from operations $ (313,000,000) $ 0  
v3.25.4
PROPERTY, PLANT AND EQUIPMENT, NET (Details)
$ in Millions
 12 Months Ended
Sep. 30, 2025
USD ($)
terminal
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Property, Plant and Equipment [Line Items]        
Property, plant and equipment, gross   $ 7,910.9 $ 7,233.3  
Less - Accumulated depreciation   (2,393.1) (2,165.6)  
Total property, plant and equipment, net   5,517.8 5,067.7  
Depreciation   261.7 255.5 $ 243.2
Number of terminal facilities sold | terminal 2      
Proceeds from sale of assets, excluding commissions and fees $ 175.4      
Gain (loss) on sale of assets   93.1 (0.4) $ 1.3
Terminals Assets Sale        
Property, Plant and Equipment [Line Items]        
Gain (loss) on sale of assets   94.0    
Processing units, pipelines and equipment        
Property, Plant and Equipment [Line Items]        
Property, plant and equipment, gross   5,839.3 5,727.4  
Land        
Property, Plant and Equipment [Line Items]        
Property, plant and equipment, gross   519.2 527.9  
Construction in progress        
Property, Plant and Equipment [Line Items]        
Property, plant and equipment, gross   1,073.5 507.6  
Capitalized interest   30.0 18.6  
Computers, furniture and fixtures        
Property, Plant and Equipment [Line Items]        
Property, plant and equipment, gross   268.5 258.3  
Buildings and leasehold improvements        
Property, Plant and Equipment [Line Items]        
Property, plant and equipment, gross   $ 210.4 $ 212.1  
v3.25.4
EQUITY INVESTMENT IN SBR (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 27, 2023
Sep. 30, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]          
Equity method investment - return of capital     $ 3.4 $ 1.8 $ 846.0
Loss (gain) on formation of SBR equity method investment     $ 0.0 $ (8.7) $ 925.1
St. Bernard Renewables LLC          
Schedule of Equity Method Investments [Line Items]          
Fair value of assets contributed $ 1,690.0        
Equity method investment - return of capital   $ 414.6      
Equity method investment, ownership percentage     50.00%    
St. Bernard Renewables LLC | Eni SpA          
Schedule of Equity Method Investments [Line Items]          
Payments to acquire interest in joint venture $ 431.0        
v3.25.4
DEFERRED CHARGES AND OTHER ASSETS, NET (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Indefinite-Lived Intangible Assets [Line Items]      
Deferred turnaround costs, net $ 1,131.7 $ 1,086.6  
Catalyst, net [1] 232.9 191.1  
Environmental credits 42.5 42.5  
Linefill 34.2 27.4  
Pension plan assets 18.6 19.4  
Other 4.4 12.5  
Total deferred charges and other assets, net 1,464.3 1,379.5  
Amortization expense $ 371.6 358.3 $ 314.4
Indefinite-lived precious metal catalysts      
Indefinite-Lived Intangible Assets [Line Items]      
Catalyst, net   $ 115.0  
[1] Catalyst, net includes approximately $115.0 million of indefinite-lived precious metal catalysts as of both December 31, 2025 and December 31, 2024.
v3.25.4
ACCRUED EXPENSES (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Accrued Expenses:    
Inventory-related accruals $ 1,351.5 $ 1,398.8
Renewable energy credit and emissions obligations [1] 574.8 465.9
Accrued transportation costs 136.6 175.2
Accrued capital expenditures 126.4 52.7
Excise and sales tax payable 92.8 150.7
Accrued utilities 82.6 71.5
Accrued refinery maintenance and support costs 56.7 45.5
Accrued interest 53.8 29.5
Accrued purchases - SBR 39.4 47.8
Accrued salaries and benefits 61.4 23.9
Current finance lease liabilities 12.2 11.2
Environmental liabilities 9.7 9.7
Other 65.0 51.1
Total accrued expenses $ 2,662.9 $ 2,533.5
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Total accrued expenses Total accrued expenses
[1] The Company is subject to obligations to purchase RINs required to comply with RFS. The Company’s overall RINs obligation is based on a percentage of domestic shipments of on-road fuels as established by the EPA. To the degree the Company is unable to blend the required amount of biofuels to satisfy its RINs obligation, RINs must be purchased on the open market to avoid penalties and fines. The Company records its RINs obligation on a net basis in Accrued expenses when its RINs liability is greater than the amount of RINs earned and purchased in a given period and in Prepaid and other current assets when the amount of RINs earned and purchased is greater than the RINs liability. In addition, the Company is subject to obligations to comply with federal and state legislative and regulatory measures, including regulations in the state of California pursuant to Assembly Bill 32 (“AB 32”), to address environmental compliance and greenhouse gas (“GHG”) and other emissions. These requirements include incremental costs to operate and maintain the Company’s facilities as well as to implement and manage new emission controls and programs. Renewable energy credit and emissions obligations fluctuate with the volume of applicable product sales and timing of credit purchases. From time to time, the Company enters into forward purchase commitments in order to acquire its renewable energy and emissions credits at fixed prices. The Company’s RIN obligations will be settled in accordance with established regulatory deadlines. The majority of the Company’s current AB 32 liability is part of an ongoing triennial period program through 2026 which will be settled in 2027.
v3.25.4
CREDIT FACILITIES AND DEBT (Summary of Long-Term Debt) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Mar. 17, 2025
Dec. 31, 2024
Aug. 21, 2023
Jan. 24, 2020
Debt Instrument [Line Items]          
Long-term debt, gross $ 2,201.6   $ 1,501.6    
Unamortized deferred financing costs (41.0)   (41.6)    
Unamortized discount (12.3)   (2.7)    
Long-term debt $ 2,148.3   1,457.3    
2028 6.00% Senior Notes          
Debt Instrument [Line Items]          
Senior unsecured notes         $ 1,000.0
Debt fixed interest rate 6.00%        
2030 9.875% Senior Notes          
Debt Instrument [Line Items]          
Senior unsecured notes   $ 800.0      
Debt fixed interest rate 9.875%        
2030 7.875% Senior Notes          
Debt Instrument [Line Items]          
Senior unsecured notes       $ 500.0  
Debt fixed interest rate 7.875%        
Revolving Credit Facility          
Debt Instrument [Line Items]          
Revolving Credit Facility $ 100.0   200.0    
2028 6.00% Senior Notes          
Debt Instrument [Line Items]          
Senior unsecured notes 801.6   801.6    
2030 9.875% Senior Notes          
Debt Instrument [Line Items]          
Senior unsecured notes 800.0   0.0    
2030 7.875% Senior Notes          
Debt Instrument [Line Items]          
Senior unsecured notes $ 500.0   $ 500.0    
v3.25.4
CREDIT FACILITIES AND DEBT (Additional Information) (Details)
 1 Months Ended
Mar. 17, 2025
USD ($)
Aug. 23, 2023
USD ($)
Aug. 21, 2023
USD ($)
Jan. 24, 2020
USD ($)
Oct. 31, 2012
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
May 02, 2023
USD ($)
Feb. 18, 2020
USD ($)
May 30, 2017
Debt Instrument [Line Items]                    
Uncommitted receivables purchase facility, maximum borrowing                 $ 200,000,000  
2023 Senior Notes                    
Debt Instrument [Line Items]                    
Debt fixed interest rate       7.00%            
2025 Senior Notes                    
Debt Instrument [Line Items]                    
Debt fixed interest rate                   7.25%
2028 6.00% Senior Notes                    
Debt Instrument [Line Items]                    
Debt fixed interest rate           6.00%        
Senior unsecured notes       $ 1,000,000,000            
Proceeds from debt, net of issuance costs       $ 987,000,000            
2030 9.875% Senior Notes                    
Debt Instrument [Line Items]                    
Debt fixed interest rate           9.875%        
Senior unsecured notes $ 800,000,000                  
Debt instrument, issuance, percentage of face amount 98.563%                  
Proceeds from debt, net of issuance costs $ 776,000,000.0                  
Debt instrument, redemption price, percentage of principal amount redeemed 40.00%                  
Redemption price as a percentage 109.875%                  
Debt instrument, conditional redemption threshold percentage of aggregate principal amount originally issued, remains outstanding 60.00%                  
2030 9.875% Senior Notes | Change of Control that Results in a Ratings Decline                    
Debt Instrument [Line Items]                    
Redemption price as a percentage 101.00%                  
2030 9.875% Senior Notes | Covenant Termination Event in Connection with Certain Asset Disposition                    
Debt Instrument [Line Items]                    
Redemption price as a percentage 100.00%                  
2030 7.875% Senior Notes                    
Debt Instrument [Line Items]                    
Debt fixed interest rate           7.875%        
Senior unsecured notes     $ 500,000,000.0              
Debt instrument, issuance, percentage of face amount     99.324%              
Proceeds from debt, net of issuance costs     $ 488,800,000              
Debt instrument, redemption price, percentage of principal amount redeemed     35.00%              
Redemption price as a percentage     107.875%              
Debt instrument, conditional redemption threshold percentage of aggregate principal amount originally issued, remains outstanding     65.00%              
Revolving Loan                    
Debt Instrument [Line Items]                    
Revolving credit facility           $ 100,000,000.0 $ 200,000,000      
Line of Credit | Revolving Loan                    
Debt Instrument [Line Items]                    
Maximum borrowing capacity   $ 3,500,000,000           $ 2,850,000,000    
Line of credit facility, available increase in borrowing capacity   $ 500,000,000                
Maximum borrowing capacity, as a percentage of aggregate borrowing capacity   10.00%                
Alternative maximum borrowing capacity   $ 100,000,000.0                
Effective consolidated fixed charge coverage ratio during period         1          
Letters of credit outstanding, amount           167,300,000 128,300,000      
Line of Credit | Revolving Loan | Maximum                    
Debt Instrument [Line Items]                    
Line of credit facility, commitment fee percentage   0.25%                
Line of Credit | Revolving Loan | Company Credit Rating | Minimum                    
Debt Instrument [Line Items]                    
Basis spread on variable rate   1.25%                
Line of Credit | Revolving Loan | Company Credit Rating | Maximum                    
Debt Instrument [Line Items]                    
Basis spread on variable rate   2.00%                
Line of Credit | Revolving Loan | Base Rate | Minimum                    
Debt Instrument [Line Items]                    
Basis spread on variable rate   0.25%                
Line of Credit | Revolving Loan | Base Rate | Maximum                    
Debt Instrument [Line Items]                    
Basis spread on variable rate   1.00%                
Line of Credit | Revolving Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum                    
Debt Instrument [Line Items]                    
Basis spread on variable rate   1.25%                
Line of Credit | Revolving Loan | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum                    
Debt Instrument [Line Items]                    
Basis spread on variable rate   2.00%                
2028 6.00% Senior Notes                    
Debt Instrument [Line Items]                    
Senior unsecured notes           $ 801,600,000 $ 801,600,000      
v3.25.4
CREDIT FACILITIES AND DEBT (Debt Maturities) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Long-term Debt, Fiscal Year Maturity [Abstract]    
2026 $ 0.0  
2027 0.0  
2028 901.6  
2029 0.0  
2030 1,300.0  
Thereafter 0.0  
Total debt outstanding $ 2,201.6 $ 1,501.6
v3.25.4
RELATED PARTY TRANSACTIONS (Additional Information) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Related Party Transaction [Line Items]      
Accounts receivable $ 1,166,700,000 $ 1,165,000,000  
Accrued expenses $ 2,662,900,000 2,533,500,000  
St. Bernard Renewables LLC      
Related Party Transaction [Line Items]      
Equity method investment, ownership percentage 50.00%    
St. Bernard Renewables LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Related Party Transaction [Line Items]      
Accounts receivable $ 44,100,000 18,700,000  
Accrued expenses $ 39,400,000 47,800,000  
St. Bernard Renewables LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Related Party Transaction [Line Items]      
Equity method investment, ownership percentage 50.00%    
Limited financial performance guarantee of a term loan $ 100,000,000    
Guarantor obligations, maximum exposure, percentage 50.00%    
Blackstone and First Reserve | Series B Units      
Related Party Transaction [Line Items]      
Distribution to unitholders $ 16,200,000 $ 4,200,000 $ 0
v3.25.4
RELATED PARTY TRANSACTIONS (Summary of Related Party Transactions) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Related Party Transaction [Line Items]      
Sales $ 29,332.3 $ 33,115.3 $ 38,324.8
St. Bernard Renewables LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Related Party Transaction [Line Items]      
Sales 55.8 39.7 9.1
Purchases (430.7) (323.5) (244.4)
St. Bernard Renewables LLC | Operating Agreement | General and Administrative Expense | Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Related Party Transaction [Line Items]      
Total lease expense under related party agreements 136.2 163.7 62.8
St. Bernard Renewables LLC | Omnibus Agreement | General and Administrative Expense | Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Related Party Transaction [Line Items]      
Total lease expense under related party agreements 4.0 4.1 0.0
St. Bernard Renewables LLC | Common Asset Use and Servitude Agreement | General and Administrative Expense | Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Related Party Transaction [Line Items]      
Total lease expense under related party agreements 7.7 6.6 0.0
St. Bernard Renewables LLC | Lease Agreements | Cost of Sales | Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Related Party Transaction [Line Items]      
Total lease expense under related party agreements $ (8.1) $ (4.1) $ 0.0
v3.25.4
COMMITMENTS AND CONTINGENCIES (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Feb. 01, 2020
Jan. 31, 2025
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loss Contingencies [Line Items]            
Purchases made under contractually obligated supply agreements       $ 139.0 $ 118.9 $ 121.4
Environmental Matters            
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]       Accrued expenses Accrued expenses  
Accrual for environmental loss contingencies       $ 150.8 $ 152.1  
Environmental Loss Contingency, Noncurrent, Statement of Financial Position [Extensible Enumeration]       Other long-term liabilities Other long-term liabilities  
Aggregate environmental liability       $ 141.1 $ 142.4  
Tax Receivable Agreement [Abstract]            
Percent of tax benefit received from increases in tax basis paid to stockholders       85.00%    
Ownership percentage of equity held       100.00% 100.00% 100.00%
Payable to related parties, tax receivable agreement       $ 168.2 $ 293.6  
Payable pursuant to Tax Receivable Agreement       0.0 125.4  
Payment made to related parties, tax receivable agreement, current, including interest   $ 130.8     $ 43.0  
Interest included in tax receivable payment       $ 5.4    
PBF Energy Inc. | Class A Common Stock            
Tax Receivable Agreement [Abstract]            
Ownership percentage of equity held       99.30% 99.30% 99.30%
Environmental Issue | Torrance Refinery            
Environmental Matters            
Environmental liability       $ 108.6 $ 110.6  
Executive | Minimum            
Employee Agreements            
Potential lump sum payment as a multiple of base salary       1.50    
Executive | Maximum            
Employee Agreements            
Potential lump sum payment as a multiple of base salary       2.99    
Martinez Acquistion            
Contingent Consideration            
Term of agreement 4 years          
Payment for contingent consideration liability     $ 18.8 $ 18.8    
Contingent consideration, liability           $ 21.6
v3.25.4
COMMITMENTS AND CONTINGENCIES (Future Minimum Payments) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]  
2026 $ 92.0
2027 45.9
2028 42.2
2029 40.4
2030 40.0
Thereafter 272.8
Total obligations $ 533.3
v3.25.4
LEASES (Lease Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Operating lease right of use assets $ 725.7 $ 802.4
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Total lease right of use assets Total lease right of use assets
Finance lease, right-of-use asset $ 34.0 $ 42.9
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Total lease right of use assets Total lease right of use assets
Total lease right of use assets $ 759.7 $ 845.3
Current operating lease liabilities 184.4 187.8
Current finance lease liabilities $ 12.2 $ 11.2
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Accrued expenses Accrued expenses
Long-term operating lease liabilities $ 543.0 $ 622.2
Long-term financing lease liabilities 25.8 35.4
Total lease liabilities $ 765.4 $ 856.6
v3.25.4
LEASES (Lease Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Finance lease costs    
Amortization of right of use assets $ 11.4 $ 14.0
Interest on lease liabilities 2.9 3.6
Operating lease costs 321.7 289.6
Short-term lease costs 69.7 78.7
Variable lease costs 39.2 27.0
Sub-lease income (2.9) (3.0)
Total lease costs $ 442.0 $ 409.9
v3.25.4
LEASES (Supplemental Cash Flow and Other Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows for operating leases $ 327.4 $ 289.1  
Operating cash flows for finance leases 2.9 3.6  
Financing cash flows for finance leases 11.2 12.2  
Supplemental non-cash quantification of assets acquired or remeasured under operating and financing leases $ 156.2 $ 288.6 $ 271.6
Weighted average remaining lease term - operating leases 8 years 9 months 18 days    
Weighted average remaining lease term - finance leases 2 years 10 months 24 days    
Weighted average discount rate - operating leases 13.90%    
Weighted average discount rate - finance leases 7.20%    
v3.25.4
LEASES (Maturity of Lease Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Finance Leases    
2026 $ 14.5  
2027 14.5  
2028 11.8  
2029 1.4  
2030 0.0  
Thereafter 0.0  
Total minimum lease payments 42.2  
Less: effect of discounting 4.2  
Present value of future minimum lease payments 38.0  
Less: current obligations under leases 12.2 $ 11.2
Long-term lease obligations 25.8 35.4
Operating Leases    
2026 268.7  
2027 147.5  
2028 113.2  
2029 98.7  
2030 96.3  
Thereafter 532.6  
Total minimum lease payments 1,257.0  
Less: effect of discounting 529.6  
Present value of future minimum lease payments 727.4  
Less: current obligations under leases 184.4 187.8
Long-term lease obligations $ 543.0 $ 622.2
v3.25.4
STOCKHOLDERS' AND MEMBERS' EQUITY STRUCTURE (Additional Information) (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
vote
shares
Class B Common Stock  
Class of Stock [Line Items]  
Number of votes per share | vote 1
PBF LLC | Series B Units  
Class of Stock [Line Items]  
Units, issuance value | $ $ 0
Number of units authorized | shares 1,000,000,000
v3.25.4
STOCKHOLDERS' AND MEMBERS' EQUITY STRUCTURE Treasury Stock (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Feb. 13, 2024
Class of Stock [Line Items]    
Share repurchase program, authorized, amount   $ 1,750.0
Repurchase Program | Class A Common Stock    
Class of Stock [Line Items]    
Treasury stock, shares, acquired (in shares) 7,554,269  
Treasury stock, value, acquired, cost method $ 329.1  
v3.25.4
NONCONTROLLING INTERESTS (PBF LLC Noncontrolling Interest) (Details) - shares
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Noncontrolling Interest [Line Items]      
Ownership percentage of equity held 100.00% 100.00% 100.00%
Shares outstanding (in shares) 117,799,856 116,174,772 121,303,400
Class A Common Stock | PBF Energy Inc.      
Noncontrolling Interest [Line Items]      
Ownership percentage of equity held 99.30% 99.30% 99.30%
Shares outstanding (in shares) 116,937,076 115,311,992 120,440,620
Series A Units | PBF LLC      
Noncontrolling Interest [Line Items]      
Ownership percentage of equity held 0.70% 0.70% 0.70%
Shares outstanding (in shares) 862,780 862,780 862,780
v3.25.4
NONCONTROLLING INTERESTS (Noncontrolling Interest in PBF Holding) (Details) - Chalmette Refining - subsidiary
 12 Months Ended
Dec. 31, 2025
Nov. 01, 2015
Noncontrolling Interest [Line Items]    
Number of subsidiaries 2  
Collins Pipeline Company    
Noncontrolling Interest [Line Items]    
Ownership interest   80.00%
T&M Terminal Company    
Noncontrolling Interest [Line Items]    
Ownership interest   80.00%
v3.25.4
NONCONTROLLING INTERESTS (Changes in Equity and Noncontrolling Interest) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]      
Beginning balance $ 5,678.6 $ 6,631.3 $ 5,056.0
Comprehensive income (loss), PBF Energy Inc. Equity (140.7) (529.5) 2,129.7
Comprehensive income (loss), noncontrolling interest (2.0) (6.4) 21.5
Comprehensive income (loss), total equity (142.7) (535.9) 2,151.2
Dividends and distributions (128.6) (121.5) (111.9)
Effect of change in deferred tax assets and liabilities and tax receivable agreement obligation   (0.6) (4.5)
Stock-based compensation expense 41.0 35.2 35.8
Transactions in connection with stock-based compensation plans 17.6 24.7 44.5
Exchange of PBF Energy Company LLC Series A Units for PBF Energy Class A common stock   0.0 0.0
Treasury stock purchases (14.8) (354.6) (539.9)
Other (1.2)   0.1
Ending balance 5,449.9 5,678.6 6,631.3
Parent      
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]      
Beginning balance 5,544.2 6,488.3 4,929.2
Comprehensive income (loss), PBF Energy Inc. Equity (140.7) (529.5) 2,129.7
Comprehensive income (loss), total equity (140.7) (529.5) 2,129.7
Dividends and distributions (127.8) (119.9) (106.6)
Effect of change in deferred tax assets and liabilities and tax receivable agreement obligation   (0.6) (4.5)
Stock-based compensation expense 41.0 35.2 35.8
Transactions in connection with stock-based compensation plans 17.6 24.7 44.5
Exchange of PBF Energy Company LLC Series A Units for PBF Energy Class A common stock   0.6  
Treasury stock purchases 14.8 354.6 (539.9)
Other     0.1
Ending balance 5,319.5 5,544.2 6,488.3
Noncontrolling Interest - PBF LLC      
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]      
Beginning balance 121.7 129.9 114.6
Comprehensive income (loss), noncontrolling interest (2.1) (6.0) 20.6
Dividends and distributions (0.8) (1.6) (5.3)
Exchange of PBF Energy Company LLC Series A Units for PBF Energy Class A common stock   (0.6)  
Other (1.2)    
Ending balance 117.6 121.7 129.9
Noncontrolling Interest - PBF Holding      
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]      
Beginning balance 12.7 13.1 12.2
Comprehensive income (loss), noncontrolling interest 0.1 (0.4) 0.9
Ending balance $ 12.8 $ 12.7 $ 13.1
v3.25.4
NONCONTROLLING INTERESTS (Other Comprehensive Income) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Net income (loss) $ (160.5) $ (540.2) $ 2,162.0
Other comprehensive income (loss):      
Unrealized gain (loss) on available for sale securities 1.3 (0.3) (0.4)
Amortization of defined benefit plans unrecognized net gain 16.5 4.6 (10.4)
Total other comprehensive income (loss) 17.8 4.3 (10.8)
Comprehensive income (loss) (142.7) (535.9) 2,151.2
Total comprehensive income (loss) (142.7) (535.9) 2,151.2
Parent      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Net income (loss) (158.5) (533.8) 2,140.5
Other comprehensive income (loss):      
Unrealized gain (loss) on available for sale securities 1.3   (0.4)
Amortization of defined benefit plans unrecognized net gain 16.5 4.6 (10.4)
Total other comprehensive income (loss) 17.8 4.3 (10.8)
Comprehensive income (loss) (140.7) (529.5) 2,129.7
Noncontrolling Interest      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Net income (loss) (2.0) (6.4) 21.5
Other comprehensive income (loss):      
Amortization of defined benefit plans unrecognized net gain 0.0    
Total other comprehensive income (loss) 0.0 0.0 0.0
Comprehensive income (loss) (2.0) (6.4) 21.5
Total comprehensive income (loss), noncontrolling interest $ (2.0) (6.4) $ 21.5
PBF LLC | Parent      
Other comprehensive income (loss):      
Unrealized gain (loss) on available for sale securities   $ (0.3)  
v3.25.4
STOCK-BASED COMPENSATION (Share-Based Compensation Expense) (Details) - General and Administrative Expense - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Allocated share-based compensation expense $ 39.0 $ 44.3 $ 51.5
PBF Energy options | PBF Energy      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Allocated share-based compensation expense 0.0 4.5 11.9
PBF Energy restricted shares | PBF Energy      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Allocated share-based compensation expense 31.4 21.7 17.9
PBF Energy performance awards | PBF Energy      
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]      
Allocated share-based compensation expense $ 7.6 $ 18.1 $ 21.7
v3.25.4
STOCK-BASED COMPENSATION (Additional Information) (Details) - PBF Energy - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended 14 Months Ended 26 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2021
Dec. 31, 2022
PBF Energy options          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Expiration period 10 years        
Vesting period         3 years
Granted (in shares) 0        
Total intrinsic value of stock options outstanding $ 34.4        
Total intrinsic value of stock options exercisable 34.4        
Total intrinsic value of stock options exercised during period 10.3 $ 30.3 $ 66.1    
Performance share units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Unrecognized compensation expense $ 17.2        
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition 2 years 3 months 25 days        
Total estimated fair value, granted in period $ 0.0 14.1 30.9    
Performance Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Unrecognized compensation expense $ 12.7        
Share-based compensation, performance unit, payout, at target, per unit (in shares) $ 1.00        
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition 2 years 7 months 17 days        
Total estimated fair value, granted in period $ 0.0 $ 19.3 $ 12.1    
PBF Energy restricted shares          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Unrecognized compensation expense $ 32.2        
PBF Energy restricted shares | Share-Based Payment Arrangement, Employee          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period 3 years        
PBF Energy restricted shares | Share-Based Payment Arrangement, Nonemployee          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period 3 years        
Performance Share Units And Performance Share Awards          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period 3 years     3 years  
Minimum | Performance Share Units And Performance Share Awards          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation, Performance Unit, payout 0.00%        
Maximum | Performance Units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation, performance unit, payout, at target, per unit (in shares) $ 2.00        
Share-based compensation, Performance Unit, payout 200.00%        
Maximum | Performance Share Units And Performance Share Awards          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Share-based compensation, Performance Unit, payout 200.00%        
v3.25.4
STOCK-BASED COMPENSATION (Share-Based Compensation Activity, PBF Energy Options) (Details) - PBF Energy options - PBF Energy - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Options Activity    
Beginning balance (in shares) 6,430,875  
Exercised (in shares) (983,802)  
Forfeited (in shares) (63,990)  
Ending balance (in shares) 5,383,083 6,430,875
Options exercisable and vested (in shares) 5,383,083  
Options expected to vest (in shares) 0  
Weighted Average Exercise Price    
Weighted average exercise price, beginning balance (in usd per share) $ 24.36  
Exercised (in usd per share) 23.22  
Forfeited (in usd per share) 29.32  
Weighted average exercise price, ending balance (in usd per share) 24.51 $ 24.36
Weighted average exercise price, exercisable and vested (in usd per share) 24.51  
Weighted average exercise price, expected to vest (in usd per share) $ 0  
Weighted Average Remaining Contractual Life [Abstract]    
Weighted average remaining contractual term, outstanding (in years) 3 years 1 month 6 days 4 years 2 months 4 days
Weighted average remaining contractual term, exercisable and vested (in years) 3 years 1 month 6 days  
v3.25.4
STOCK-BASED COMPENSATION (Share-Based Compensation Activity, Restricted Stock Awards) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of PBF Energy Restricted Class A Common Stock      
Ending balance (in shares) 47,028,255    
PBF Energy | PBF Energy restricted shares      
Number of PBF Energy Restricted Class A Common Stock      
Beginning balance (in shares) 1,923,895    
Granted (in shares) 846,855    
Vested (in shares) (798,280)    
Forfeited (in shares) (60,154)    
Ending balance (in shares) 1,912,316 1,923,895  
Weighted Average Grant Date Fair Value      
Beginning balance (in usd per share) $ 32.60    
Granted (in usd per share) 31.18 $ 28.60 $ 44.90
Vested (in usd per share) 34.56    
Forfeited (in usd per share) 30.23    
Ending balance (in usd per share) $ 31.24 $ 32.60  
v3.25.4
STOCK-BASED COMPENSATION (Share-Based Compensation, Fair Value of Restricted Stock) (Details) - PBF Energy - PBF Energy restricted shares - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average grant-date fair value per PSU (in usd per share) $ 31.18 $ 28.60 $ 44.90
Fair value of restricted stock vested (in millions) $ 27.6 $ 15.5 $ 11.2
v3.25.4
STOCK-BASED COMPENSATION (Weighted Average Assumptions) (Details) - Performance share units - PBF Energy - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected life (in years) 3 years 2 months 4 days    
Expected volatility 63.25%    
Dividend yield 3.34%    
Risk-free rate of return 3.47%    
Weighted average grant-date fair value per PSU (in usd per share) $ 40.25 $ 34.04 $ 56.35
Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected life (in years)   2 years 9 months 25 days 2 years 10 months 9 days
Expected volatility   53.66% 56.68%
Dividend yield   2.07% 1.73%
Risk-free rate of return   4.17% 4.40%
Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected life (in years)   3 years 14 days 3 years 2 months 4 days
Expected volatility   56.02% 59.98%
Dividend yield   3.93% 1.80%
Risk-free rate of return   4.35% 4.75%
v3.25.4
STOCK-BASED COMPENSATION (Share-Based Compensation Activity, Performance Share Unit Awards) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Number of PBF Energy Performance Share Units (“PSU”)      
Ending balance (in shares) 47,028,255    
PBF Energy | Performance share units      
Number of PBF Energy Performance Share Units (“PSU”)      
Beginning balance (in shares) 612,410    
Granted (in shares) 228,771    
Vested (in shares) (5,212)    
Forfeited (in shares) (186,927)    
Ending balance (in shares) 649,042 612,410  
Weighted Average Grant Date Fair Value      
Beginning balance (in usd per share) $ 44.14    
Granted (in usd per share) 40.25 $ 34.04 $ 56.35
Vested (in usd per share) 39.70    
Forfeited (in usd per share) 46.85    
Ending balance (in usd per share) $ 42.02 $ 44.14  
PBF Energy | Performance Units      
Number of PBF Energy Performance Share Units (“PSU”)      
Beginning balance (in shares) 46,004,030    
Granted (in shares) 16,741,373    
Vested (in shares) (350,027)    
Forfeited (in shares) (15,367,121)    
Ending balance (in shares)   46,004,030  
v3.25.4
EMPLOYEE BENEFIT PLANS (Additional Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Maximum age to receive health care coverage 65 years    
Accumulated benefit obligation $ 508.4 $ 460.1  
Qualified Plan      
Defined Benefit Plan Disclosure [Line Items]      
Required service period for employee participation 30 days    
Basic contributions as a percentage of annual salary 50.00%    
Company matching contribution, percent of match 200.00%    
Company matching contribution, percent of employees' annual pay 3.00%    
Contribution to the qualified defined contribution plans $ 36.8 $ 40.0 $ 37.5
Expected future employer contributions in 2025 $ 36.0    
Qualified Plan | Equity Securities      
Defined Benefit Plan Disclosure [Line Items]      
Plan asset allocations 48.00%    
Qualified Plan | Fixed Income Securities      
Defined Benefit Plan Disclosure [Line Items]      
Plan asset allocations 46.00%    
Qualified Plan | Real Estate      
Defined Benefit Plan Disclosure [Line Items]      
Plan asset allocations 6.00%    
v3.25.4
EMPLOYEE BENEFIT PLANS (Changes in Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Qualified Plan      
Change in benefit obligation:      
Benefit obligation at beginning of year $ 489.8 $ 429.7  
Service cost 53.2 53.4 $ 48.1
Interest cost 25.0 20.3 17.7
Benefit payments (32.5) (15.5)  
Actuarial loss (gain) 11.5 1.9  
Projected benefit obligation at end of year 547.0 489.8 429.7
Change in plan assets:      
Fair value of plan assets at beginning of year 394.7 349.3  
Actual return on plan assets 59.8 25.9  
Benefits paid (32.4) (15.5)  
Employer contributions 35.1 35.0  
Fair value of plan assets at end of year 457.2 394.7 349.3
Reconciliation of funded status:      
Fair value of plan assets at end of year 457.2 394.7 349.3
Less projected benefit obligation at end of year 547.0 489.8 429.7
Funded status at end of year (89.8) (95.1)  
Post-Retirement Medical Plan      
Change in benefit obligation:      
Benefit obligation at beginning of year 15.6 19.6  
Service cost 0.7 0.9 0.5
Interest cost 0.8 0.9 0.7
Benefit payments (2.7) (2.4)  
Actuarial loss (gain) 2.0 (3.4)  
Projected benefit obligation at end of year 16.4 15.6 19.6
Change in plan assets:      
Fair value of plan assets at beginning of year 0.0 0.0  
Actual return on plan assets 0.0 0.0  
Benefits paid (2.7) (2.4)  
Employer contributions 2.7 2.4  
Fair value of plan assets at end of year 0.0 0.0 0.0
Reconciliation of funded status:      
Fair value of plan assets at end of year 0.0 0.0 0.0
Less projected benefit obligation at end of year 16.4 15.6 $ 19.6
Funded status at end of year $ (16.4) $ (15.6)  
v3.25.4
EMPLOYEE BENEFIT PLANS (Expected Benefit Payments) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Qualified Plan  
Defined Benefit Plan Disclosure [Line Items]  
2026 $ 41.3
2027 36.2
2028 40.5
2029 45.1
2030 47.1
Years 2031-2035 296.9
Post-Retirement Medical Plan  
Defined Benefit Plan Disclosure [Line Items]  
2026 1.6
2027 1.7
2028 1.8
2029 1.6
2030 1.6
Years 2031-2035 $ 7.8
v3.25.4
EMPLOYEE BENEFIT PLANS (Net Periodic Benefit Cost) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Qualified Plan      
Defined Benefit Plan Disclosure [Line Items]      
Service cost $ 53.2 $ 53.4 $ 48.1
Interest cost 25.0 20.3 17.7
Expected return on plan assets (27.6) (24.4) (19.2)
Amortization of prior service cost and actuarial loss 0.2 0.3 0.0
Net periodic benefit cost 50.8 49.6 46.6
Post-Retirement Medical Plan      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 0.7 0.9 0.5
Interest cost 0.8 0.9 0.7
Expected return on plan assets 0.0 0.0 0.0
Amortization of prior service cost and actuarial loss 0.3 0.5 0.1
Net periodic benefit cost $ 1.8 $ 2.3 $ 1.3
v3.25.4
EMPLOYEE BENEFIT PLANS (Pre-tax Amounts Recognized in Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Qualified Plan      
Defined Benefit Plan Disclosure [Line Items]      
Prior service costs $ 0.0 $ 0.0 $ 0.0
Net actuarial (gain) loss (20.7) 0.4 9.5
Amortization of losses and prior service cost (0.2) (0.3) (0.1)
Total changes in other comprehensive (income) loss (20.9) 0.1 9.4
Post-Retirement Medical Plan      
Defined Benefit Plan Disclosure [Line Items]      
Prior service costs 0.0 0.0 6.1
Net actuarial (gain) loss 2.0 (3.3) (0.2)
Amortization of losses and prior service cost (0.3) (0.5) (0.1)
Total changes in other comprehensive (income) loss $ 1.7 $ (3.8) $ 5.8
v3.25.4
EMPLOYEE BENEFIT PLANS (Pre-tax Amounts in AOCI Not Yet Recognized as Components of Net Periodic Costs) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Qualified Plan    
Defined Benefit Plan Disclosure [Line Items]    
Prior service costs $ (0.2) $ (0.3)
Net actuarial (loss) gain (3.7) (24.6)
Total (3.9) (24.9)
Post-Retirement Medical Plan    
Defined Benefit Plan Disclosure [Line Items]    
Prior service costs (6.5) (7.6)
Net actuarial (loss) gain 10.8 13.5
Total $ 4.3 $ 5.9
v3.25.4
EMPLOYEE BENEFIT PLANS (Assumptions Used) (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Qualified Plan      
Weighted Average Assumptions Used to Determine Benefit Obligations      
Discount rate - benefit obligations 5.54% 5.63%  
Rate of compensation increase 4.55% 4.55%  
Discount rates:      
Effective rate for service cost 5.65% 5.00% 5.22%
Effective rate for interest cost 5.32% 4.90% 5.14%
Effective rate for interest on service cost 5.39% 4.89% 5.14%
Cash balance interest credit rate 4.63% 3.99% 4.04%
Expected long-term rate of return on plan assets 6.90% 6.80% 6.75%
Rate of compensation increase 4.55% 4.55% 4.27%
Supplemental Plan      
Weighted Average Assumptions Used to Determine Benefit Obligations      
Discount rate - benefit obligations 5.27% 5.54%  
Rate of compensation increase 5.00% 5.00%  
Discount rates:      
Effective rate for service cost 5.57% 4.94% 5.24%
Effective rate for interest cost 5.20% 4.90% 5.14%
Effective rate for interest on service cost 5.31% 4.84% 5.12%
Cash balance interest credit rate 4.63% 3.99% 4.04%
Rate of compensation increase 5.00% 4.50% 4.50%
Post-Retirement Medical Plan      
Weighted Average Assumptions Used to Determine Benefit Obligations      
Discount rate - benefit obligations 5.04% 5.39%  
Rate of compensation increase 0.00% 0.00%  
Discount rates:      
Effective rate for service cost 5.62% 5.00% 5.27%
Effective rate for interest cost 5.10% 4.82% 5.05%
Effective rate for interest on service cost 5.50% 4.93% 5.21%
v3.25.4
EMPLOYEE BENEFIT PLANS (Assumed Health Care Cost Trend Rates) (Details) - Post-Retirement Medical Plan
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Health care cost trend rate assumed for next year 6.80% 5.90%
Rate to which the cost trend rate was assumed to decline (the ultimate trend rate) 4.00% 4.00%
Year that the rate reaches the ultimate trend rate 2050 2049
v3.25.4
EMPLOYEE BENEFIT PLANS (Fair Value of Assets of the Company's Qualified Plan) (Details) - Qualified Plan - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at beginning of year $ 457.2 $ 394.7 $ 349.3
Level 2      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at beginning of year 457.2 394.7  
Level 2 | Domestic Equities      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at beginning of year 140.4 121.7  
Level 2 | Developed International Equities      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at beginning of year 58.8 46.6  
Level 2 | Global Low Volatility Equities      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at beginning of year 0.0 7.9  
Level 2 | Emerging Market Equities      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at beginning of year 24.8 19.2  
Level 2 | Fixed-Income      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at beginning of year 211.8 178.6  
Level 2 | Real Estate      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at beginning of year 19.4 18.7  
Level 2 | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at beginning of year $ 2.0 $ 2.0  
v3.25.4
REVENUES (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Product Information [Line Items]      
Sales $ 29,332.3 $ 33,115.3 $ 38,324.8
Deferred revenue 20.8 43.8  
Eliminations      
Product Information [Line Items]      
Sales (348.9) (349.4) (347.8)
Refining | Operating Segments      
Product Information [Line Items]      
Sales 29,297.7 33,077.9 38,288.5
Refining | Gasoline and distillates      
Product Information [Line Items]      
Sales 25,810.6 28,652.0 34,002.5
Refining | Feedstocks and other      
Product Information [Line Items]      
Sales 1,354.2 1,449.1 1,640.6
Refining | Asphalt and blackoils      
Product Information [Line Items]      
Sales 1,263.6 1,940.1 1,650.1
Refining | Chemicals      
Product Information [Line Items]      
Sales 539.0 662.8 650.6
Refining | Lubricants      
Product Information [Line Items]      
Sales 330.3 373.9 344.7
Logistics | Operating Segments      
Product Information [Line Items]      
Sales 383.5 386.8 384.1
Total revenue prior to eliminations      
Product Information [Line Items]      
Sales $ 29,681.2 $ 33,464.7 $ 38,672.6
v3.25.4
INCOME TAXES (Components of Income Tax) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
subsidiary
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Class of Stock [Line Items]      
Number of subsidiaries acquired | subsidiary 2    
Current expense (benefit):      
Federal $ 1.7 $ (10.6) $ 140.9
Foreign 0.0 0.0 (0.3)
State 2.1 21.4 46.2
Total current 3.8 10.8 186.8
Deferred (benefit) expense:      
Federal (48.5) (156.6) 387.7
Foreign 3.2 (4.8) 3.1
State (32.6) (77.8) 146.2
Total deferred (77.9) (239.2) 537.0
Total provision for income taxes $ (74.1) $ (228.4) $ 723.8
v3.25.4
INCOME TAXES (Income Tax Payment (Refund) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Income Tax Disclosure [Abstract]  
Federal $ (71.1)
State and local (6.4)
Foreign 0.0
Total income tax refund (77.5)
Proceeds from income tax refund, federal $ 72.0
v3.25.4
INCOME TAXES (Effective Income Tax Rate Reconciliation) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Provision at Federal statutory rate $ (48.8)    
State and local income taxes (net of federal income tax) (a) [1] (22.5)    
Executive compensation 8.0    
Non-taxable incentive income (7.0)    
Equity compensation (2.5)    
Other 0.5    
Rate differential from foreign jurisdictions (0.7)    
Other (1.1)    
Total provision for income taxes $ (74.1) $ (228.4) $ 723.8
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Provision at Federal statutory rate 21.00% 21.00% 21.00%
State and local income taxes (net of federal income tax) (a) 9.70% [1] 5.00% 5.00%
Nondeductible/nontaxable items   3.30% (0.50%)
Executive compensation (3.40%)    
Non-taxable incentive income 3.00%    
Equity compensation 1.10%    
Other (0.20%)    
Rate differential from foreign jurisdictions 0.30% (0.20%) 0.00%
Provision to return adjustment   0.20% (0.10%)
Other 0.40% 0.70% (0.10%)
Effective tax rate 31.90% 30.00% 25.30%
Less: net income (loss) attributable to noncontrolling interests $ (2.0) $ (6.4) $ 21.5
Effective tax rate 31.60% 29.70% 25.10%
[1] State and local taxes in California and Louisiana comprise the majority of this category.
v3.25.4
INCOME TAXES (Income by Jurisdiction) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax [Line Items]      
Income (loss) before income taxes $ (234.6) $ (768.6) $ 2,885.8
PBF Energy      
Income Tax [Line Items]      
United States income (loss) (244.3) (739.8) 2,852.4
Foreign income (loss) 11.7 (22.4) 11.9
Income (loss) before income taxes $ (232.6) $ (762.2) $ 2,864.3
v3.25.4
INCOME TAXES (Components of Deferred Tax Assets and Liabilities) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets    
Purchase interest step-up $ 141.8 $ 165.0
Inventory 26.0 0.0
Pension, employee benefits and compensation 51.5 53.3
Net operating loss carry forwards 532.4 297.5
Environmental liabilities 38.6 39.0
Lease liabilities 293.6 317.4
Other 50.4 50.7
Total deferred tax assets 1,134.3 922.9
Deferred tax liabilities    
Property, plant and equipment 1,323.9 1,122.0
Inventory 0.0 60.3
Right of use assets 292.2 314.5
Equity method investment in SBR 259.6 249.6
Other 22.2 12.5
Total deferred tax liabilities 1,897.9 1,758.9
Net deferred tax liability (763.6) $ (836.0)
Net operating loss carry forwards $ 2,009.3  
Net operating loss carry forwards, limitations on use, percentage 80  
State and Local Jurisdiction    
Deferred tax liabilities    
Net operating loss carry forwards $ 111.5  
v3.25.4
SEGMENT INFORMATION (Additional Information) (Details)
 12 Months Ended
Dec. 31, 2025
segment
reportable_segment
number_refinery
Segment Reporting Information [Line Items]  
Number of reporting segments | reportable_segment 2
Number of refineries | number_refinery 6
Number of operating segments | segment 2
v3.25.4
SEGMENT INFORMATION (Schedule of Segment Reporting) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Sales $ 29,332.3 $ 33,115.3 $ 38,324.8
Cost of products and other 26,627.0 30,266.7 32,671.3
Operating expenses (excluding depreciation and amortization expense as reflected below) 2,646.0 2,606.2 2,694.9
Depreciation and amortization expense 644.7 627.8 571.5
Other segment (income) expenses, net [1] (531.1) 313.6 (564.4)
Income (loss) from operations (54.3) (699.0) 2,951.5
Interest (income) expense, net 181.6 72.0 63.8
Capital expenditures 628.9 1,008.3 1,173.6
Total assets 13,019.9 12,703.2  
Loss (gain) on formation of SBR equity method investment 0.0 (8.7) 925.1
Equity method investment in SBR 826.3 866.8  
Martinez Fire Rebuild      
Segment Reporting Information [Line Items]      
Capital expenditures 532.9    
Renewable Diesel Facility      
Segment Reporting Information [Line Items]      
Capital expenditures   5.6 312.7
Eliminations      
Segment Reporting Information [Line Items]      
Sales (348.9) (349.4) (347.8)
Cost of products and other (331.5) (332.0) (329.5)
Operating expenses (excluding depreciation and amortization expense as reflected below) (17.5) (17.4) (18.3)
Depreciation and amortization expense 0.0 0.0 0.0
Other segment (income) expenses, net [1] 0.0 0.0 0.0
Income (loss) from operations 0.0 0.0 0.0
Interest (income) expense, net 0.0 0.0 0.0
Capital expenditures 0.0 0.0 0.0
Total assets (38.9) (39.6)  
Refining | Operating Segments      
Segment Reporting Information [Line Items]      
Sales 29,297.7 33,077.9 38,288.5
Cost of products and other 26,950.2 30,590.4 33,000.8
Operating expenses (excluding depreciation and amortization expense as reflected below) 2,547.0 2,487.8 2,581.3
Depreciation and amortization expense 594.2 578.4 523.9
Other segment (income) expenses, net [1] (831.4) 0.9 (1.1)
Income (loss) from operations 37.6 (579.5) 2,183.6
Interest (income) expense, net (27.7) (14.1) (4.8)
Capital expenditures [2] 598.1 994.8 1,152.9
Total assets 11,469.1 10,945.5  
Logistics | Operating Segments      
Segment Reporting Information [Line Items]      
Sales 383.5 386.8 384.1
Cost of products and other 8.3 8.3 0.0
Operating expenses (excluding depreciation and amortization expense as reflected below) 116.5 135.8 131.9
Depreciation and amortization expense 36.1 36.2 36.1
Other segment (income) expenses, net [1] (86.9) 7.3 10.0
Income (loss) from operations 309.6 199.1 206.1
Interest (income) expense, net (1.6) (1.9) 2.3
Capital expenditures 17.0 6.5 11.9
Total assets 683.4 781.9  
Corporate | Segment Reporting, Reconciling Item, Corporate Nonsegment      
Segment Reporting Information [Line Items]      
Sales 0.0 0.0 0.0
Cost of products and other 0.0 0.0 0.0
Operating expenses (excluding depreciation and amortization expense as reflected below) 0.0 0.0 0.0
Depreciation and amortization expense 14.4 13.2 11.5
Other segment (income) expenses, net [1] 387.2 305.4 [3] (573.3)
Income (loss) from operations (401.5) [3] (318.6) [3] 561.8
Interest (income) expense, net 210.9 88.0 66.3
Capital expenditures 13.8 7.0 $ 8.8
Total assets [4] $ 906.3 $ 1,015.4  
[1] Other segment (income) expenses, net include General and administrative expenses (excluding depreciation and amortization expenses), Gain on insurance recoveries, net, Change in fair value of contingent consideration, net, Equity loss in investee, Loss (gain) on formation of SBR equity method investment, and (Gain) loss on sale of assets.
[2] For the year ended December 31, 2025, the Company’s refining segment Capital expenditures exclude $532.9 million of costs associated with the rebuild of units damaged by the Martinez refinery fire. For the years ended December 31, 2024 and December 31, 2023, the Company’s refining segment includes $5.6 million and $312.7 million, respectively, of capital expenditures related to the Renewable Diesel Facility.
[3] Income (loss) from operations and Other segment (income) expenses, net within Corporate for the year ended December 31, 2024, included a $8.7 million reduction of the gain associated with the formation of the SBR equity method investment.
[4] As of December 31, 2025 and December 31, 2024, Corporate assets include the Company’s Equity method investment in SBR of $826.3 million and $866.8 million, respectively.
v3.25.4
NET INCOME PER SHARE OF PBF ENERGY (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Basic Earnings Per Share:      
Net income (loss) attributable to PBF Energy Inc. stockholders $ (158.5) $ (533.8) $ 2,140.5
Less: Income allocated to participating securities 0.1 0.1 0.0
Income (loss) available to PBF Energy Inc. stockholders - basic $ (158.6) $ (533.9) $ 2,140.5
Denominator for basic net income (loss) per Class A common share-weighted average shares (in shares) [1] 114,052,733 116,248,827 124,953,858
Basic net income (loss) attributable to PBF Energy per Class A common share (in usd per share) $ (1.39) $ (4.59) $ 17.13
Diluted Earnings Per Share:      
Income (loss) available to PBF Energy Inc. stockholders - basic $ (158.6) $ (533.9) $ 2,140.5
Plus: Net income (loss) attributable to noncontrolling interest [1] (2.1) (6.0) 20.5
Less: Income tax expense (benefit) on net income (loss) attributable to noncontrolling interest [1] 0.6 1.6 (5.3)
Numerator for diluted net income (loss) per Class A common share - net income (loss) attributable to PBF Energy Inc. stockholders [1] $ (160.1) $ (538.3) $ 2,155.7
Denominator for basic net income (loss) per Class A common share-weighted average shares (in shares) [1] 114,052,733 116,248,827 124,953,858
Effect of dilutive securities:      
Conversion of PBF LLC Series A Units (in shares) [1] 862,780 862,780 899,519
Common stock equivalents (in shares) [1],[2] 0 0 4,656,071
Denominator for diluted net income (loss) per PBF energy Class A common share-adjusted weighted average shares (in shares) 114,915,513 117,111,607 130,509,448
Diluted net income (loss) attributable to PBF Energy Inc. stockholders per Class A common share (in usd per share) $ (1.39) $ (4.60) $ 16.52
Effective tax rate 26.00%    
PBF Energy options      
Effect of dilutive securities:      
Antidilutive common stock excluded from computation of dilutive earnings per share (in shares) 6,771,051 4,413,417 18,431
[1] The diluted earnings per share calculation generally assumes the conversion of all outstanding PBF LLC Series A Units to PBF Energy Class A common stock. The net income (loss) attributable to PBF Energy used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income (loss), as well as the corresponding income tax (benefit) expense (based on a 26.0% annualized statutory corporate tax rate for the years ended December 31, 2025, 2024 and 2023, respectively) attributable to the converted units.
[2] Represents an adjustment to weighted-average diluted shares outstanding to assume the full exchange of common stock equivalents, including options and warrants for PBF LLC Series A Units and PSUs and options for shares of PBF Energy Class A common stock as calculated under the treasury stock method (to the extent the impact of such exchange would not be anti-dilutive). Common stock equivalents exclude the effects of performance share units and options and warrants to purchase 6,771,051, 4,413,417 and 18,431 shares of PBF Energy Class A common stock and PBF LLC Series A units because they are anti-dilutive for the years ended December 31, 2025, 2024 and 2023, respectively. For periods showing a net loss, all common stock equivalents and unvested restricted stock are considered anti-dilutive.
v3.25.4
FAIR VALUE MEASUREMENTS (Measured on Recurring Basis) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Obligation to receive cash collateral posted against derivative obligations $ 5.7 $ 15.1
ASSETS    
Commodity contracts, effect of counter-party netting (5.7) (15.1)
Fair Value, Measurements, Recurring | Commodity Contract    
Liabilities    
Commodity contracts 9.7 14.0
Commodity contracts, effect of counter-party netting (9.7) (14.0)
Commodity contracts, net carrying value on Balance Sheet 0.0 0.0
Fair Value, Measurements, Recurring | Renewable Energy Credit and Emissions Obligation    
Liabilities    
Commodity contracts, effect of counter-party netting 0.0 0.0
Renewable energy credit and emissions obligations 574.8 465.9
Level 1 | Fair Value, Measurements, Recurring | Commodity Contract    
Liabilities    
Commodity contracts 9.6 14.0
Level 1 | Fair Value, Measurements, Recurring | Renewable Energy Credit and Emissions Obligation    
Liabilities    
Renewable energy credit and emissions obligations 0.0 0.0
Level 2 | Fair Value, Measurements, Recurring | Commodity Contract    
Liabilities    
Commodity contracts 0.1 0.0
Level 2 | Fair Value, Measurements, Recurring | Renewable Energy Credit and Emissions Obligation    
Liabilities    
Renewable energy credit and emissions obligations 574.8 465.9
Level 3 | Fair Value, Measurements, Recurring | Commodity Contract    
Liabilities    
Commodity contracts 0.0 0.0
Level 3 | Fair Value, Measurements, Recurring | Renewable Energy Credit and Emissions Obligation    
Liabilities    
Renewable energy credit and emissions obligations 0.0 0.0
Money market funds | Fair Value, Measurements, Recurring    
ASSETS    
Money market funds 14.2 21.0
Money market funds | Level 1 | Fair Value, Measurements, Recurring    
ASSETS    
Money market funds 14.2 21.0
Money market funds | Level 2 | Fair Value, Measurements, Recurring    
ASSETS    
Money market funds 0.0 0.0
Money market funds | Level 3 | Fair Value, Measurements, Recurring    
ASSETS    
Money market funds 0.0 0.0
Commodity Contract | Fair Value, Measurements, Recurring    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Obligation to receive cash collateral posted against derivative obligations 9.7 14.0
ASSETS    
Commodity contracts 20.1 16.0
Commodity contracts, effect of counter-party netting (9.7) (14.0)
Commodity contracts, net carrying value on Balance Sheet 10.4 2.0
Commodity Contract | Level 1 | Fair Value, Measurements, Recurring    
ASSETS    
Commodity contracts 8.2 16.0
Commodity Contract | Level 2 | Fair Value, Measurements, Recurring    
ASSETS    
Commodity contracts 11.9 0.0
Commodity Contract | Level 3 | Fair Value, Measurements, Recurring    
ASSETS    
Commodity contracts $ 0.0 $ 0.0
v3.25.4
FAIR VALUE MEASUREMENTS (Change in Fair Value at Level 3) (Details) - USD ($)
 3 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Liability, Transfers Into Level 3   $ 0 $ 0  
Martinez Acquistion        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Payment for contingent consideration liability $ 18,800,000 18,800,000    
Qualified Plan        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Defined Benefit Plan, Plan Assets, Amount   457,200,000 394,700,000 $ 349,300,000
Other Assets | Qualified Plan        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Defined Benefit Plan, Plan Assets, Amount   18,600,000 19,400,000  
Contingent consideration obligation        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at beginning of period   $ 0 21,600,000  
Settlements     (18,800,000)  
Unrealized gain included in earnings     (2,800,000)  
Balance at end of period     $ 0  
v3.25.4
FAIR VALUE MEASUREMENTS (Fair Value and Carrying Value of Debt) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt, gross $ 2,201.6 $ 1,501.6
Unamortized deferred financing costs (41.0) (41.6)
Unamortized discount (12.3) (2.7)
Long-term debt 2,148.3 1,457.3
Long-term debt, Fair Value 2,200.2 1,455.9
Long-term debt, Fair value 2,200.2 1,455.9
2028 6.00% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Senior Notes 801.6 801.6
Long-term debt, Fair Value [1] 794.6 765.9
2030 9.875% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Senior Notes 800.0 0.0
Long-term debt, Fair Value 824.3 0.0
2030 7.875% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Senior Notes 500.0 500.0
Long-term debt, Fair Value [1] 481.3 490.0
Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Revolving Credit Facility 100.0 200.0
Revolving Credit Facility, Fair Value [2] $ 100.0 $ 200.0
[1] The estimated fair value, categorized as a Level 2 measurement, was calculated based on the present value of future expected payments utilizing implied current market interest rates based on quoted prices of the outstanding senior notes.
[2] The estimated fair value approximates carrying value, categorized as a Level 2 measurement, as these borrowings bear interest based upon short-term floating market interest rates.
v3.25.4
DERIVATIVES (Additional Information) (Details)
Dec. 31, 2025
USD ($)
bbl
Dec. 31, 2024
USD ($)
bbl
Dec. 31, 2023
USD ($)
Derivative [Line Items]      
Fair value hedges | $ $ 0 $ 0 $ 0
Crude Oil Commodity Contract | Not Designated as Hedging Instrument      
Derivative [Line Items]      
Notional, nonmonetary amounts of derivative contracts 5,889,000 13,911,000  
Refined Product Commodity Contract | Not Designated as Hedging Instrument      
Derivative [Line Items]      
Notional, nonmonetary amounts of derivative contracts 4,037,000 4,704,000  
v3.25.4
DERIVATIVES (Fair Value of Derivative Instruments) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Not Designated as Hedging Instrument | Commodity contracts | Accounts Receivable    
Derivatives, Fair Value [Line Items]    
Fair Value Asset $ 10.4 $ 2.0
v3.25.4
DERIVATIVES (Gain (Loss) Recognized in Income) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Designated as Hedging Instrument | Inventory Intermediation Agreement Obligation      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain or (Loss) Recognized in Income on Derivatives $ 0.0 $ 0.0 $ 21.0
Designated as Hedging Instrument | Intermediates and Refined Products Inventory | Fair Value Hedging      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain or (Loss) Recognized in Income on Derivatives 0.0 0.0 (21.0)
Not Designated as Hedging Instrument | Commodity contracts      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain or (Loss) Recognized in Income on Derivatives $ 0.7 $ 12.3 $ 38.1
v3.25.4
SUBSEQUENT EVENTS (Details)
Feb. 12, 2026
$ / shares
Subsequent Event | Class A Common Stock  
Subsequent Event [Line Items]  
Dividends declared per share (in usd per share) $ 0.275