PBF ENERGY INC., 10-Q filed on 4/30/2026
Quarterly Report
v3.26.1
Document and Entity Information - shares
 3 Months Ended
Mar. 31, 2026
Apr. 24, 2026
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
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  
Trading Symbol PBF  
Security Exchange Name NYSE  
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  
Entity Shell Company false  
Entity Central Index Key 0001534504  
Amendment Flag false  
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2026  
Current Fiscal Year End Date --12-31  
Class A Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding (in shares)   118,308,459
Class B Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding (in shares)   11
v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 541.8 $ 527.9
Accounts receivable 1,936.9 1,166.7
Inventories 3,078.2 2,563.1
Prepaid and other current assets 274.4 194.1
Total current assets 5,831.3 4,451.8
Property, plant, and equipment (net of accumulated depreciation of $2,459.1 and $2,393.1, respectively) 5,708.5 5,517.8
Equity method investment in SBR 833.4 826.3
Lease right of use assets 796.9 759.7
Deferred charges and other assets, net 1,548.5 1,464.3
Total assets 14,718.6 13,019.9
Current liabilities:    
Accounts payable 862.4 801.2
Accrued expenses 3,320.0 2,662.9
Deferred revenue 55.2 20.8
Current operating lease liabilities 199.0 184.4
Total current liabilities 4,436.6 3,669.3
Long-term debt 2,802.3 2,148.3
Payable pursuant to Tax Receivable Agreement 168.2 168.2
Deferred tax liabilities 821.5 763.6
Long-term operating lease liabilities 565.3 543.0
Long-term financing lease liabilities 22.6 25.8
Other long-term liabilities 249.4 251.8
Total liabilities 9,065.9 7,570.0
Commitments and contingencies (Note 6)
Equity:    
Preferred stock, $0.001 par value, 100,000,000 shares authorized, no shares outstanding at March 31, 2026 and December 31, 2025 0.0 0.0
Treasury stock, at cost, 32,224,441 shares outstanding at March 31, 2026 and 32,042,692 shares outstanding at December 31, 2025 (1,246.6) (1,237.6)
Additional paid in capital 3,441.2 3,397.3
Retained earnings 3,316.0 3,149.9
Accumulated other comprehensive income 9.9 9.8
Total PBF Energy Inc. equity 5,520.6 5,319.5
Noncontrolling interest 132.1 130.4
Total equity 5,652.7 5,449.9
Total liabilities and equity 14,718.6 13,019.9
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
v3.26.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment $ 2,459.1 $ 2,393.1
Preferred Stock, Par Value Per Share (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, Shares (in shares) 32,224,441 32,042,692
Class A Common Stock    
Common Stock, Par Value Per Share (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) 118,296,525 116,937,076
Class B Common Stock    
Common Stock, Par Value Per Share (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) 11 12
v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Revenues $ 7,904.3 $ 7,066.4
Cost and expenses:    
Cost of products and other 6,781.9 6,587.1
Operating expenses (excluding depreciation and amortization expense as reflected below) 688.9 731.8
Depreciation and amortization expense 155.0 167.7
Cost of sales 7,625.8 7,486.6
General and administrative expenses (excluding depreciation and amortization expense as reflected below) 89.6 70.4
Depreciation and amortization expense 3.8 3.6
Gain on insurance recoveries, net (106.5) 0.0
Equity (gain) loss in investee (8.3) 17.0
Loss on sale of assets 0.3 0.0
Total cost and expenses 7,604.7 7,577.6
Income (loss) from operations 299.6 (511.2)
Other income (expense):    
Interest expense (net of interest income of $3.5 and $4.5, respectively) (42.1) (36.9)
Other non-service components of net periodic benefit cost 1.0 0.3
Income (loss) before income taxes 258.5 (547.8)
Income tax expense (benefit) 58.3 (141.9)
Net income (loss) 200.2 (405.9)
Less: net income (loss) attributable to noncontrolling interest 1.9 (4.1)
Net income (loss) attributable to PBF Energy Inc. stockholders $ 198.3 $ (401.8)
Weighted-average shares of Class A common stock outstanding    
Basic (in shares) [1] 117,194,615 113,754,290
Diluted (in shares) 120,581,062 114,617,070
Net income (loss) available to Class A common stock per share:    
Basic (in dollars per share) $ 1.69 $ (3.53)
Diluted (in dollars per share) $ 1.65 $ (3.53)
[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% estimated annualized statutory corporate tax rate for both the three months ended March 31, 2026 and 2025) attributable to the converted units.
v3.26.1
Condensed Consolidated Statement of Operations (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Interest income $ 3.5 $ 4.5
v3.26.1
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net income (loss) $ 200.2 $ (405.9)
Other comprehensive income:    
Unrealized gain on available for sale securities 0.0 0.6
Net gain on pension and other post-retirement benefits 0.1 0.1
Total other comprehensive income 0.1 0.7
Comprehensive income (loss) 200.3 (405.2)
Less: comprehensive income (loss) attributable to noncontrolling interest 1.9 (4.1)
Comprehensive income (loss) attributable to PBF Energy Inc. stockholders $ 198.4 $ (401.1)
v3.26.1
Condensed Consolidated Statements of Changes in Equity - 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
Balance, beginning of period (in shares) at Dec. 31, 2024       115,311,992 12          
Balance, beginning of period (in shares) (Treasusry stock) at Dec. 31, 2024                 31,479,723  
Balance, beginning of period 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]                    
Comprehensive income (405.2)           (401.8) 0.7   (4.1)
Distributions to PBF Energy Company LLC members 0.2                 0.2
Dividends (32.2)           (32.2)      
Stock-based compensation expense 8.8         8.8        
Transactions in connection with stock-based compensation plans (in shares)       574,720            
Transactions in connection with stock-based compensation plans 0.7         0.7        
Treasury stock purchases (in shares)       229,655         229,655  
Treasury stock purchases (5.5)               $ (5.5)  
Balance, end of period (in shares) at Mar. 31, 2025       115,657,057 12          
Balance, end of period (in shares) (Treasury stock) at Mar. 31, 2025                 31,709,378  
Balance, end of period at Mar. 31, 2025 $ 5,245.0     $ 0.1 $ 0.0 3,348.2 3,002.2 (7.3) $ (1,228.3) 130.1
Balance, beginning of period (in shares) at Dec. 31, 2025   116,937,076 12 116,937,076 12          
Balance, beginning of period (in shares) (Treasusry stock) at Dec. 31, 2025 32,042,692               32,042,692  
Balance, beginning of period 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]                    
Comprehensive income 200.3           198.3 0.1   1.9
Distributions to PBF Energy Company LLC members (0.2)                 (0.2)
Dividends (32.2)           (32.2)      
Stock-based compensation expense 7.0         7.0        
Transactions in connection with stock-based compensation plans (in shares)       1,539,256            
Transactions in connection with stock-based compensation plans 36.9         36.9        
Stock Issued During Period, Value, Conversion of Convertible Securities 0.0                  
Exchange of Series A Units (in shares)       1,942 (1)          
Treasury stock purchases (in shares)       181,749         181,749  
Treasury stock purchases $ (9.0)               $ (9.0)  
Balance, end of period (in shares) at Mar. 31, 2026   118,296,525 11 118,296,525 11          
Balance, end of period (in shares) (Treasury stock) at Mar. 31, 2026 32,224,441               32,224,441  
Balance, end of period at Mar. 31, 2026 $ 5,652.7     $ 0.1 $ 0.0 $ 3,441.2 $ 3,316.0 $ 9.9 $ (1,246.6) $ 132.1
v3.26.1
Condensed Consolidated Statements of Changes in Equity (Parenthetical) - $ / shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Class A Common Stock    
Dividends per common share (in dollars per share) $ 0.275 $ 0.275
v3.26.1
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income (loss) $ 200.2 $ (405.9)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 163.5 175.2
Stock-based compensation expense 8.4 11.4
Deferred income taxes 57.9 (142.4)
Non-cash lower of cost or market inventory adjustment (313.0) 0.0
Pension and other post-retirement benefit costs 13.5 13.1
Gain on insurance recoveries, net (106.5) 0.0
(Gain) loss from equity method investment (8.3) 17.0
Loss on sale of assets 0.3 0.0
Changes in operating assets and liabilities:    
Accounts receivable (770.3) 30.2
Inventories (202.2) (295.5)
Prepaid and other current assets (80.4) (64.5)
Accounts payable 85.8 133.8
Accrued expenses 614.0 (12.7)
Deferred revenue 34.4 19.9
Payment related to Tax Receivable Agreement 0.0 (125.4)
Other assets and liabilities (21.0) (15.6)
Net cash used in operating activities (323.7) (661.4)
Cash flows from investing activities:    
Expenditures for property, plant, and equipment (349.4) (111.0)
Expenditures for deferred turnaround costs (136.9) (92.7)
Expenditures for other assets (23.2) (14.6)
Equity method investment - return of capital 1.2 0.8
Insurance proceeds 106.5 0.0
Net cash used in investing activities (401.8) (217.5)
Cash flows from financing activities:    
Dividend payments (31.7) (31.3)
Distributions to PBF Energy Company LLC members other than PBF Energy (0.2) (0.2)
Proceeds from 2030 9.875% Senior Notes 0.0 788.5
Proceeds from revolver borrowings 900.0 1,150.0
Repayments of revolver borrowings (250.0) (1,150.0)
Payments on financing leases (3.0) (3.0)
Proceeds from insurance premium financing 141.8 100.7
Payments of insurance premium financing (45.3) (26.6)
Transactions in connection with stock-based compensation plans, net 27.8 (4.7)
Deferred financing costs and other, net 0.0 (12.0)
Net cash provided by financing activities 739.4 811.4
Net change in cash and cash equivalents 13.9 (67.5)
Cash and cash equivalents, beginning of period 527.9 536.1
Cash and cash equivalents, end of period 541.8 468.6
Non-cash activities:    
Accrued and unpaid capital expenditures 141.5 101.0
Assets acquired or remeasured under operating and financing leases 131.6 65.7
Cash paid during the period for:    
Interest (net of capitalized interest of $17.3 and $5.6 in 2026 and 2025, respectively) 75.9 48.7
Income taxes $ 0.1 $ 0.1
v3.26.1
Condensed Consolidated Statement of Cash Flows (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Cash Flows [Abstract]    
Capitalized interest $ 17.3 $ 5.6
v3.26.1
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION
 3 Months Ended
Mar. 31, 2026
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 Condensed Consolidated Financial Statements representing the economic interests of PBF LLC’s members other than PBF Energy (refer to “Note 7 - Equity”).
PBF Energy holds a 99.3% economic interest in PBF LLC as of March 31, 2026 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.
Collectively, PBF Energy and its consolidated subsidiaries, are referred to hereinafter as the “Company” unless the context otherwise requires.
Basis of Presentation
The unaudited condensed consolidated financial information furnished herein reflects all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, considered necessary for a fair presentation of the financial position and the results of operations and cash flows of the Company for the periods presented. All intercompany accounts and transactions have been eliminated in consolidation. These unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. These interim Condensed Consolidated Financial Statements should be read in conjunction with the PBF Energy financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2025. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the full year.
Recently Issued Accounting Pronouncements
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“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 beginning after December 15, 2027, 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.
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, the Bay Area Air District, Contra Costa County, the Department of Justice (“DOJ”), the United States Attorney’s Office (“USAO”), and the Environmental Protection Agency (“EPA”). 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.
Following completion of the construction activities in February, assets were transferred to Refinery Operations for commissioning and restart. The startup process extended beyond previous expectations due to the volume of safety and process checks required to ensure successful restoration of full operations. The Alkylation unit and Cat Feed Hydrotreater were successfully restarted and are producing finished products and intermediates required for the sequential startup of downstream units. The Fluid Catalytic Cracking unit is now in the restart process and expected to be producing finished products in early May.
The Company expects that the cost of repairs to the fire-damaged units and restoring the refinery to full operational status will be largely 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. 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.
During the three months ended March 31, 2026, the Company received $106.5 million of unallocated insurance proceeds, which were recognized as a Gain on insurance recoveries in the Condensed Consolidated Statements of Operations. Since the date of the fire, the Company has received cumulative insurance proceeds, net of deductibles and retentions, of $1.0 billion.
In addition, during the three months ended March 31, 2026 and 2025, the Company incurred $11.5 million and $78.1 million, respectively, 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.
v3.26.1
INVENTORIES
 3 Months Ended
Mar. 31, 2026
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
Inventories consisted of the following:
(in millions)March 31, 2026December 31, 2025
Crude oil and feedstocks$1,587.5 $1,438.0 
Refined products and blendstocks1,311.7 1,260.5 
Warehouse stock and other179.0 177.6 
3,078.2 2,876.1 
Lower of cost or market adjustment— (313.0)
Total inventories$3,078.2 $2,563.1 
At March 31, 2026, the replacement cost of inventories exceeded their carrying value under the last-in, first-out (“LIFO”) method by approximately $1.6 billion. During the three months ended March 31, 2026, the Company reversed the $313.0 million lower of cost or market (“LCM”) inventory reserve recorded at December 31, 2025. This reversal increased income from operations by $313.0 million and resulted in no LCM inventory reserve at March 31, 2026.
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.
v3.26.1
ACCRUED EXPENSES
 3 Months Ended
Mar. 31, 2026
Payables and Accruals [Abstract]  
ACCRUED EXPENSES ACCRUED EXPENSES
Accrued expenses consisted of the following:
(in millions)
March 31, 2026December 31, 2025
Inventory-related accruals$1,867.0 $1,351.5 
Renewable energy credit and emissions obligations (a)
653.5 574.8 
Excise and sales tax payable176.4 92.8 
Accrued transportation costs161.6 136.6 
Accrued capital expenditures72.4 126.4 
Accrued utilities67.9 82.6 
Accrued refinery maintenance and support costs51.9 56.7 
Accrued purchases - SBR48.1 39.4 
Accrued salaries and benefits20.5 61.4 
Accrued interest15.5 53.8 
Current finance lease liabilities 12.4 12.2 
Environmental liabilities10.1 9.7 
Other162.7 65.0 
Total accrued expenses$3,320.0 $2,662.9 
——————————
(a) The Company is subject to obligations to purchase Renewable Identification Numbers (“RINs”) required to comply with the Renewable Fuel Standard. 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 and other emissions. These requirements include incremental costs to operate, acquire renewable energy credits, 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 RINs obligation 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
v3.26.1
CREDIT FACILITIES AND DEBT
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
CREDIT FACILITIES AND DEBT CREDIT FACILITIES AND DEBT
Debt outstanding consisted of the following:
(in millions)March 31, 2026December 31, 2025
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”)
800.0 800.0 
7.875% senior unsecured notes due 2030 (“2030 7.875% Senior Notes”)
500.0 500.0 
Revolving Credit Facility750.0 100.0 
2,851.6 2,201.6 
Unamortized deferred financing costs(37.6)(41.0)
Unamortized discount(11.7)(12.3)
Long-term debt$2,802.3 $2,148.3 
As of March 31, 2026, the Company is in compliance with all covenants, including financial covenants, in all its debt agreements.
v3.26.1
RELATED PARTY TRANSACTIONS
 3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Summary of Transactions with SBR
A summary of the Company’s related party transactions with SBR is as follows:
Three Months Ended March 31,
(in millions)20262025
Transactions under commercial agreements:
Sales $21.6 $13.4 
Purchases(157.5)(60.3)
Reimbursements under related party agreements:
Operating agreement 70.1 40.0 
Omnibus agreement1.0 1.0 
Common asset use and servitude agreement 2.0 2.2 
Total lease expense under related party agreements— (5.3)
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 Condensed Consolidated Statements of Operations.
Additionally, the Condensed Consolidated Balance Sheets include $81.7 million and $48.1 million recorded within Accounts receivable and Accrued expenses, respectively, related to transactions with SBR as of March 31, 2026 ($44.1 million and $39.4 million, respectively, as of December 31, 2025).
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 Company LLC (“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.
v3.26.1
COMMITMENTS AND CONTINGENCIES
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
In the ordinary conduct of the Company’s business, the Company is from time to time subject to lawsuits, investigations, and claims, including class action proceedings, mass tort actions, tort actions, environmental claims, and employee-related matters. The outcome of these matters cannot always be predicted accurately, but the Company accrues liabilities for these matters if the Company has determined that it is probable a loss has been incurred and the loss can be reasonably estimated. For such ongoing matters for which the Company has not recorded a liability but losses are reasonably possible, the Company is unable to estimate a range of possible losses at this time due to various reasons that may include but are not limited to, matters being in an early stage and not fully developed through pleadings, discovery or court proceedings, number of potential claimants being unknown or uncertainty regarding a number of different factors underlying the potential claims. However, the ultimate resolution of one or more of these contingencies could result in an adverse outcome that may have a material effect on the Company’s financial position, results of operations or cash flows.
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 (“NOVs”), 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 approximately $108.6 million as of March 31, 2026 and December 31, 2025, 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 Condensed Consolidated Balance Sheets was $150.6 million and $150.8 million at March 31, 2026 and December 31, 2025, respectively, of which $140.5 million and $141.1 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.
Tax Receivable Agreement
PBF Energy entered into a tax receivable agreement with the PBF LLC Series A and PBF LLC Series B unitholders (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 March 31, 2026 and December 31, 2025. 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 PBF Logistics LP (“PBFX”).
As of both March 31, 2026 and December 31, 2025, PBF Energy recognized a liability of $168.2 million, related to its obligations under the Tax Receivable Agreement. In January 2025, the Company made payments under the Tax Receivable Agreement related to the 2023 tax year totaling $130.8 million, inclusive of $5.4 million of interest. 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 the FASB, Accounting Standards Codification (“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.
Legal Matters
On November 24, 2022, the Martinez refinery, owned and operated by MRC, experienced a catalyst release. An investigation is being conducted by the DOJ, the USAO, and the EPA. There are uncertainties around this inquiry and investigation 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.
v3.26.1
EQUITY
 3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Abstract]  
EQUITY EQUITY
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 both March 31, 2026 and December 31, 2025.
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 Condensed 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 Condensed 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 December 31, 2025 and March 31, 2026 are calculated as follows:
Holders of PBF LLC Series A UnitsOutstanding Shares of PBF Energy Class A Common Stock
Total *
December 31, 2025862,780116,937,076117,799,856
0.7%99.3%100.0%
March 31, 2026860,839118,296,525119,157,364
0.7%99.3%100.0%
——————————
*    Assumes all of the holders of PBF LLC Series A Units exchange their PBF LLC Series A Units for shares of PBF Energy’s Class A common stock on a one-for-one basis.
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, L.L.C. (“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 Interest
The following tables summarize the changes in equity for the controlling and noncontrolling interest of PBF Energy for the three months ended March 31, 2026 and 2025, respectively:
(in millions)PBF Energy Inc. EquityNoncontrolling
Interest in PBF LLC		Noncontrolling
Interest in PBF Holding 		Total Equity
Balance at January 1, 2026$5,319.5 $117.6 $12.8 $5,449.9 
Comprehensive income
198.4 1.8 0.1 200.3 
Dividends and distributions(32.2)(0.2)— (32.4)
Stock-based compensation expense7.0 — — 7.0 
Transactions in connection with stock-based compensation plans36.9 — — 36.9 
Treasury stock purchases(9.0)— — (9.0)
Balance at March 31, 2026$5,520.6 $119.2 $12.9 $5,652.7 
(in millions)PBF Energy Inc. EquityNoncontrolling
Interest in PBF LLC		Noncontrolling
Interest in PBF Holding		Total Equity
Balance at January 1, 2025$5,544.2 $121.7 $12.7 $5,678.6 
Comprehensive income (loss)
(401.1)(4.1)— (405.2)
Dividends and distributions(32.2)(0.2)— (32.4)
Stock-based compensation expense8.8 — — 8.8 
Transactions in connection with stock-based compensation plans0.7 — — 0.7 
Treasury stock purchases (5.5)— — (5.5)
Balance at March 31, 2025$5,114.9 $117.4 $12.7 $5,245.0 
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 allows for share repurchases of up to $1.75 billion and does not have an expiration date. During the three months ended March 31, 2026 and 2025, the Company did not purchase any shares of PBF Energy’s Class A common stock under the Repurchase Program.
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.
v3.26.1
DIVIDENDS AND DISTRIBUTIONS
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
DIVIDENDS AND DISTRIBUTIONS DIVIDENDS AND DISTRIBUTIONS With respect to dividends and distributions paid during the three months ended March 31, 2026, PBF LLC made aggregate non-tax distributions of $31.9 million, or $0.275 per unit to its members, of which $31.7 million was distributed pro-rata to PBF Energy and the balance was distributed to its other members. PBF Energy used this $31.7 million to pay quarterly cash dividends of $0.275 per share of Class A common stock on March 11, 2026
v3.26.1
REVENUES
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
As described in “Note 13 - Segment Information”, the Company’s business consists of the Refining Segment and Logistics Segment. The following table provides information relating to the Company’s revenues for each product or group of similar products or services by segment for the periods presented.
Three Months Ended March 31,
(in millions)20262025
Refining Segment:
Gasoline and distillates $7,058.8 $6,125.6 
Asphalt and blackoils 318.2 237.7 
Feedstocks and other 291.9 496.9 
Chemicals 145.0 121.4 
Lubricants 85.9 75.5 
Total Refining Revenue 7,899.8 7,057.1 
Logistics Segment:
Logistics Revenue93.2 94.5 
Total revenue prior to eliminations 7,993.0 7,151.6 
Elimination of intercompany revenue(88.7)(85.2)
Total Revenues $7,904.3 $7,066.4 
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, Revenue from Contracts with Customers.
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.
v3.26.1
INCOME TAXES
 3 Months Ended
Mar. 31, 2026
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 (loss), which to-date has consisted primarily of its share of PBF LLC’s pre-tax income (loss) (approximately 99.3% as of both March 31, 2026 and December 31, 2025). 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 federal 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 Condensed Consolidated Statements of Operations consists of the following: 
Three Months Ended March 31,
(in millions)20262025
Current income tax expense $0.4 $0.5 
Deferred income tax expense (benefit)57.9 (142.4)
Total income tax expense (benefit)$58.3 $(141.9)
The income tax provision is based on earnings before taxes attributable to PBF Energy and excludes earnings before taxes attributable to noncontrolling interest as such interests are generally not subject to income taxes except as noted above. PBF Energy’s effective income tax rate for the three months ended March 31, 2026 and March 31, 2025 was 22.7% and 26.1%, respectively.
PBF Energy’s effective income tax rate for the three months ended March 31, 2026, including the impact of income (loss) attributable to noncontrolling interest of $1.9 million, was 22.6%. PBF Energy’s effective income tax rate for the three months ended March 31, 2025, including the impact of income (loss) attributable to noncontrolling interest of $4.1 million, was 25.9%.
For the three months ended March 31, 2026, PBF Energy’s effective tax rate differs from the United States statutory rate, inclusive of state income taxes due to additional tax benefit as a result of equity-based compensation activity. For the three months ended March 31, 2025, PBF Energy’s effective tax rate did not materially differ from the United States statutory rate, inclusive of state income taxes.
The Company has determined there are no material uncertain tax positions as of March 31, 2026. The Company does not have any unrecognized tax benefits.
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 three months ended March 31, 2026, and did not materially change its effective income tax rate for 2026.
v3.26.1
FAIR VALUE MEASUREMENTS
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025.
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 March 31, 2026 and December 31, 2025, the Company had the obligation to receive cash collateral posted against its derivative obligations of $114.1 million and $5.7 million, respectively. Cash collateral related to derivative contracts is recorded net in the Condensed Consolidated Balance Sheets. The Company has no derivative contracts that are subject to master netting arrangements that are reflected gross on the Condensed Consolidated Balance Sheets.
As of March 31, 2026
Fair Value HierarchyTotal Gross Fair ValueEffect of Counter-party NettingNet Carrying Value on Balance Sheet
(in millions)Level 1Level 2Level 3
Assets:
Money market funds$5.9 $— $— $5.9 N/A$5.9 
Commodity contracts208.8 0.1 — 208.9 (208.9)— 
Liabilities:
Commodity contracts300.3 7.1 — 307.4 (208.9)98.5 
Renewable energy credit and emissions obligations— 653.5 — 653.5 — 653.5 
As of December 31, 2025
Fair Value HierarchyTotal Gross Fair ValueEffect of Counter-party NettingNet Carrying Value on Balance Sheet
(in millions)Level 1Level 2Level 3
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 
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 United States) 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.
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 March 31, 2026 and December 31, 2025 approximately $18.6 million was included within Deferred charges and other assets, net for these non-qualified pension plan assets.
There were no transfers between levels during the three months ended March 31, 2026 or March 31, 2025.
Fair value of debt
The table below summarizes the carrying value and fair value of debt as of March 31, 2026 and December 31, 2025.
March 31, 2026December 31, 2025
(in millions)
Carrying
value
Fair
 value
Carrying
 value
Fair
value
2028 6.00% Senior Notes (a)
$801.6 $801.6 $801.6 $794.6 
2030 9.875% Senior Notes (a)
800.0 858.7 800.0 824.3 
2030 7.875% Senior Notes (a)
500.0 514.2 500.0 481.3 
Revolving Credit Facility (b)
750.0 750.0 100.0 100.0 
2,851.6 2,924.5 2,201.6 2,200.2 
Less - Unamortized deferred financing costs(37.6)N/A(41.0)N/A
Unamortized discount(11.7)N/A(12.3)N/A
Long-term debt$2,802.3 $2,924.5 $2,148.3 $2,200.2 
_________________________
(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.
v3.26.1
DERIVATIVES
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVES DERIVATIVES
The Company uses derivative instruments to mitigate certain exposures to commodity price risk. 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 March 31, 2026, there were 32,820,000 barrels of crude oil and 3,025,000 barrels of refined products (5,889,000 and 4,037,000, respectively, as of December 31, 2025), 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 March 31, 2026 and December 31, 2025, and the line items in the Condensed Consolidated Balance Sheets in which fair values are reflected.
Description

Balance Sheet Location		Fair Value
Asset/(Liability)
(in millions)
Derivatives not designated as hedging instruments:
March 31, 2026:
Commodity contractsAccounts receivable$(98.5)
December 31, 2025:
Commodity contractsAccounts receivable$10.4 
The following table provides information regarding gains or losses recognized in income on derivative instruments and the line items in the Condensed Consolidated Statements of Operations in which such gains and losses are reflected.
DescriptionLocation of Gain or (Loss) Recognized in
 Income on Derivatives		Gain or (Loss)
Recognized in
Income on Derivatives
(in millions)
Derivatives not designated as hedging instruments:
For the three months ended March 31, 2026:
Commodity contractsCost of products and other$(208.8)
For the three months ended March 31, 2025:
Commodity contractsCost of products and other$(1.3)
There were no fair value hedges for the three months ended March 31, 2026 or
v3.26.1
SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2026
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 Condensed 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 three months ended March 31, 2026 and 2025 are presented below.
Three Months Ended March 31, 2026
(in millions)RefiningLogisticsCorporateEliminationsConsolidated Total
Revenues$7,899.8 $93.2 $— $(88.7)$7,904.3 
Cost of products and other6,862.9 3.2 — (84.2)6,781.9 
Operating expenses (income)661.2 32.2 — (4.5)688.9 
Depreciation and amortization expense146.7 8.3 3.8 — 158.8 
Other segment (income) expenses, net (1)
(106.2)1.8 79.5 — (24.9)
Income (loss) from operations
335.3 47.6 (83.3)— 299.6 
Interest (income) expense, net(16.4)(0.2)58.7 — 42.1 
Capital expenditures (2)
316.1 1.6 2.4 — 320.1 
Three Months Ended March 31, 2025
RefiningLogisticsCorporate  EliminationsConsolidated Total
Revenues$7,057.1 $94.5 $— $(85.2)$7,066.4 
Cost of products and other6,665.4 2.6 — (80.9)6,587.1 
Operating expenses (income)706.3 29.8 — (4.3)731.8 
Depreciation and amortization expense158.6 9.1 3.6 — 171.3 
Other segment expenses, net (1)
— 1.6 85.8 — 87.4 
Income (loss) from operations(473.2)51.4 (89.4)— (511.2)
Interest (income) expense, net(4.5)(0.2)41.6 — 36.9 
Capital expenditures215.6 2.4 0.3 — 218.3 
Balance at March 31, 2026
RefiningLogisticsCorporate  EliminationsConsolidated Total
Total assets (3)
$13,103.3 $670.0 $984.5 $(39.2)$14,718.6 
Balance at December 31, 2025
RefiningLogisticsCorporate  EliminationsConsolidated Total
Total assets (3)
$11,469.1 $683.4 $906.3 $(38.9)$13,019.9 
__________________________________
(1) Other segment (income) expenses, net include General and administrative expenses (excluding depreciation and amortization expenses), Gain on insurance recoveries, net, Equity (gain) loss in investee, and Loss on sale of assets.
(2) For the three months ended March 31, 2026, the Company’s refining segment Capital expenditures exclude $189.4 million of costs associated with the rebuild of units damaged by the Martinez refinery fire.
(3) As of March 31, 2026 and December 31, 2025, Corporate assets include the Company’s Equity method investment in SBR of $833.4 million and $826.3 million, respectively.
v3.26.1
NET INCOME PER SHARE
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
NET INCOME PER SHARE NET INCOME PER SHARE
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:
Three Months Ended March 31,
(in millions, except share and per share amounts)20262025
Basic Earnings Per Share:
Allocation of earnings:
Net income (loss) attributable to PBF Energy Inc. stockholders
$198.3 $(401.8)
Less: Income allocated to participating securities
— — 
Income (loss) available to PBF Energy Inc. stockholders - basic
$198.3 $(401.8)
Denominator for basic net income (loss) per PBF Energy Class A common share - weighted average shares
117,194,615 113,754,290 
Basic net income (loss) attributable to PBF Energy per Class A common share
$1.69 $(3.53)
Diluted Earnings Per Share:
Numerator:
Income (loss) available to PBF Energy Inc. stockholders - basic
$198.3 $(401.8)
Plus: Net income (loss) attributable to noncontrolling interest (1)
1.8 (4.1)
Less: Income tax (benefit) expense on net income (loss) attributable to noncontrolling interest (1)
(0.5)1.0 
Numerator for diluted net income (loss) per PBF Energy Class A common share - net income (loss) attributable to PBF Energy Inc. stockholders (1)
$199.6 $(404.9)
Denominator: (1)
Denominator for basic net income (loss) per PBF Energy Class A common share-weighted average shares
117,194,615 113,754,290 
Effect of dilutive securities: (2)
Conversion of PBF LLC Series A Units
862,219 862,780 
Common stock equivalents
2,524,228 — 
Denominator for diluted net income (loss) per PBF Energy Class A common share-adjusted weighted average shares
120,581,062 114,617,070 
Diluted net income (loss) attributable to PBF Energy Inc. stockholders per PBF Energy Class A common share
$1.65 $(3.53)
___________________________________________
(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% estimated annualized statutory corporate tax rate for both the three months ended March 31, 2026 and 2025) 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 performance share units 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 966,874 and 6,955,541 shares of PBF Energy Class A common stock and PBF LLC Series A Units because they are anti-dilutive for the three months ended March 31, 2026 and 2025, respectively. For periods showing a net loss, all common stock equivalents and unvested restricted stock are considered anti-dilutive.
v3.26.1
SUBSEQUENT EVENTS
 3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Dividend Declared
On April 30, 2026, PBF Energy announced a dividend of $0.275 per share on outstanding PBF Energy Class A common stock. The dividend is payable on May 29, 2026 to PBF Energy Class A common stockholders of record at the close of business on May 14, 2026.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
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
v3.26.1
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Policies)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation
The unaudited condensed consolidated financial information furnished herein reflects all adjustments (consisting of normal recurring accruals) which are, in the opinion of management, considered necessary for a fair presentation of the financial position and the results of operations and cash flows of the Company for the periods presented. All intercompany accounts and transactions have been eliminated in consolidation. These unaudited Condensed Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. These interim Condensed Consolidated Financial Statements should be read in conjunction with the PBF Energy financial statements included in the Annual Report on Form 10-K for the year ended December 31, 2025. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the full year.
Recently Adopted and Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“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 beginning after December 15, 2027, 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.
v3.26.1
INVENTORIES (Tables)
 3 Months Ended
Mar. 31, 2026
Inventory Disclosure [Abstract]  
Schedule of inventory
Inventories consisted of the following:
(in millions)March 31, 2026December 31, 2025
Crude oil and feedstocks$1,587.5 $1,438.0 
Refined products and blendstocks1,311.7 1,260.5 
Warehouse stock and other179.0 177.6 
3,078.2 2,876.1 
Lower of cost or market adjustment— (313.0)
Total inventories$3,078.2 $2,563.1 
v3.26.1
ACCRUED EXPENSES (Tables)
 3 Months Ended
Mar. 31, 2026
Payables and Accruals [Abstract]  
Schedule of accrued expenses
Accrued expenses consisted of the following:
(in millions)
March 31, 2026December 31, 2025
Inventory-related accruals$1,867.0 $1,351.5 
Renewable energy credit and emissions obligations (a)
653.5 574.8 
Excise and sales tax payable176.4 92.8 
Accrued transportation costs161.6 136.6 
Accrued capital expenditures72.4 126.4 
Accrued utilities67.9 82.6 
Accrued refinery maintenance and support costs51.9 56.7 
Accrued purchases - SBR48.1 39.4 
Accrued salaries and benefits20.5 61.4 
Accrued interest15.5 53.8 
Current finance lease liabilities 12.4 12.2 
Environmental liabilities10.1 9.7 
Other162.7 65.0 
Total accrued expenses$3,320.0 $2,662.9 
——————————
(a) The Company is subject to obligations to purchase Renewable Identification Numbers (“RINs”) required to comply with the Renewable Fuel Standard. 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 and other emissions. These requirements include incremental costs to operate, acquire renewable energy credits, 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 RINs obligation 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
v3.26.1
CREDIT FACILITIES AND DEBT (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Summary of long-term debt outstanding
Debt outstanding consisted of the following:
(in millions)March 31, 2026December 31, 2025
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”)
800.0 800.0 
7.875% senior unsecured notes due 2030 (“2030 7.875% Senior Notes”)
500.0 500.0 
Revolving Credit Facility750.0 100.0 
2,851.6 2,201.6 
Unamortized deferred financing costs(37.6)(41.0)
Unamortized discount(11.7)(12.3)
Long-term debt$2,802.3 $2,148.3 
v3.26.1
RELATED PARTY TRANSACTIONS (Tables)
 3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Schedule of related party transactions
A summary of the Company’s related party transactions with SBR is as follows:
Three Months Ended March 31,
(in millions)20262025
Transactions under commercial agreements:
Sales $21.6 $13.4 
Purchases(157.5)(60.3)
Reimbursements under related party agreements:
Operating agreement 70.1 40.0 
Omnibus agreement1.0 1.0 
Common asset use and servitude agreement 2.0 2.2 
Total lease expense under related party agreements— (5.3)
v3.26.1
EQUITY (Tables)
 3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Line Items]  
Schedule of stockholders equity
The following tables summarize the changes in equity for the controlling and noncontrolling interest of PBF Energy for the three months ended March 31, 2026 and 2025, respectively:
(in millions)PBF Energy Inc. EquityNoncontrolling
Interest in PBF LLC		Noncontrolling
Interest in PBF Holding 		Total Equity
Balance at January 1, 2026$5,319.5 $117.6 $12.8 $5,449.9 
Comprehensive income
198.4 1.8 0.1 200.3 
Dividends and distributions(32.2)(0.2)— (32.4)
Stock-based compensation expense7.0 — — 7.0 
Transactions in connection with stock-based compensation plans36.9 — — 36.9 
Treasury stock purchases(9.0)— — (9.0)
Balance at March 31, 2026$5,520.6 $119.2 $12.9 $5,652.7 
(in millions)PBF Energy Inc. EquityNoncontrolling
Interest in PBF LLC		Noncontrolling
Interest in PBF Holding		Total Equity
Balance at January 1, 2025$5,544.2 $121.7 $12.7 $5,678.6 
Comprehensive income (loss)
(401.1)(4.1)— (405.2)
Dividends and distributions(32.2)(0.2)— (32.4)
Stock-based compensation expense8.8 — — 8.8 
Transactions in connection with stock-based compensation plans0.7 — — 0.7 
Treasury stock purchases (5.5)— — (5.5)
Balance at March 31, 2025$5,114.9 $117.4 $12.7 $5,245.0 
PBF LLC  
Noncontrolling Interest [Line Items]  
Schedule of noncontrolling interest
The noncontrolling interest ownership percentages in PBF LLC as of December 31, 2025 and March 31, 2026 are calculated as follows:
Holders of PBF LLC Series A UnitsOutstanding Shares of PBF Energy Class A Common Stock
Total *
December 31, 2025862,780116,937,076117,799,856
0.7%99.3%100.0%
March 31, 2026860,839118,296,525119,157,364
0.7%99.3%100.0%
——————————
*    Assumes all of the holders of PBF LLC Series A Units exchange their PBF LLC Series A Units for shares of PBF Energy’s Class A common stock on a one-for-one basis.
v3.26.1
REVENUES (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of revenue from external customers by products and services The following table provides information relating to the Company’s revenues for each product or group of similar products or services by segment for the periods presented.
Three Months Ended March 31,
(in millions)20262025
Refining Segment:
Gasoline and distillates $7,058.8 $6,125.6 
Asphalt and blackoils 318.2 237.7 
Feedstocks and other 291.9 496.9 
Chemicals 145.0 121.4 
Lubricants 85.9 75.5 
Total Refining Revenue 7,899.8 7,057.1 
Logistics Segment:
Logistics Revenue93.2 94.5 
Total revenue prior to eliminations 7,993.0 7,151.6 
Elimination of intercompany revenue(88.7)(85.2)
Total Revenues $7,904.3 $7,066.4 
v3.26.1
INCOME TAXES (Tables)
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Summary of the income tax provision
Three Months Ended March 31,
(in millions)20262025
Current income tax expense $0.4 $0.5 
Deferred income tax expense (benefit)57.9 (142.4)
Total income tax expense (benefit)$58.3 $(141.9)
v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025.
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 March 31, 2026 and December 31, 2025, the Company had the obligation to receive cash collateral posted against its derivative obligations of $114.1 million and $5.7 million, respectively. Cash collateral related to derivative contracts is recorded net in the Condensed Consolidated Balance Sheets. The Company has no derivative contracts that are subject to master netting arrangements that are reflected gross on the Condensed Consolidated Balance Sheets.
As of March 31, 2026
Fair Value HierarchyTotal Gross Fair ValueEffect of Counter-party NettingNet Carrying Value on Balance Sheet
(in millions)Level 1Level 2Level 3
Assets:
Money market funds$5.9 $— $— $5.9 N/A$5.9 
Commodity contracts208.8 0.1 — 208.9 (208.9)— 
Liabilities:
Commodity contracts300.3 7.1 — 307.4 (208.9)98.5 
Renewable energy credit and emissions obligations— 653.5 — 653.5 — 653.5 
As of December 31, 2025
Fair Value HierarchyTotal Gross Fair ValueEffect of Counter-party NettingNet Carrying Value on Balance Sheet
(in millions)Level 1Level 2Level 3
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 
Schedule of fair value of debt
The table below summarizes the carrying value and fair value of debt as of March 31, 2026 and December 31, 2025.
March 31, 2026December 31, 2025
(in millions)
Carrying
value
Fair
 value
Carrying
 value
Fair
value
2028 6.00% Senior Notes (a)
$801.6 $801.6 $801.6 $794.6 
2030 9.875% Senior Notes (a)
800.0 858.7 800.0 824.3 
2030 7.875% Senior Notes (a)
500.0 514.2 500.0 481.3 
Revolving Credit Facility (b)
750.0 750.0 100.0 100.0 
2,851.6 2,924.5 2,201.6 2,200.2 
Less - Unamortized deferred financing costs(37.6)N/A(41.0)N/A
Unamortized discount(11.7)N/A(12.3)N/A
Long-term debt$2,802.3 $2,924.5 $2,148.3 $2,200.2 
_________________________
(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.
v3.26.1
DERIVATIVES (Tables)
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025, and the line items in the Condensed Consolidated Balance Sheets in which fair values are reflected.
Description

Balance Sheet Location		Fair Value
Asset/(Liability)
(in millions)
Derivatives not designated as hedging instruments:
March 31, 2026:
Commodity contractsAccounts receivable$(98.5)
December 31, 2025:
Commodity contractsAccounts receivable$10.4 
Schedule of derivative instruments, gain (loss) recognized in income
The following table provides information regarding gains or losses recognized in income on derivative instruments and the line items in the Condensed Consolidated Statements of Operations in which such gains and losses are reflected.
DescriptionLocation of Gain or (Loss) Recognized in
 Income on Derivatives		Gain or (Loss)
Recognized in
Income on Derivatives
(in millions)
Derivatives not designated as hedging instruments:
For the three months ended March 31, 2026:
Commodity contractsCost of products and other$(208.8)
For the three months ended March 31, 2025:
Commodity contractsCost of products and other$(1.3)
v3.26.1
SEGMENT INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of segment reporting information
Disclosures regarding the Company’s reportable segments with reconciliations to consolidated totals for the three months ended March 31, 2026 and 2025 are presented below.
Three Months Ended March 31, 2026
(in millions)RefiningLogisticsCorporateEliminationsConsolidated Total
Revenues$7,899.8 $93.2 $— $(88.7)$7,904.3 
Cost of products and other6,862.9 3.2 — (84.2)6,781.9 
Operating expenses (income)661.2 32.2 — (4.5)688.9 
Depreciation and amortization expense146.7 8.3 3.8 — 158.8 
Other segment (income) expenses, net (1)
(106.2)1.8 79.5 — (24.9)
Income (loss) from operations
335.3 47.6 (83.3)— 299.6 
Interest (income) expense, net(16.4)(0.2)58.7 — 42.1 
Capital expenditures (2)
316.1 1.6 2.4 — 320.1 
Three Months Ended March 31, 2025
RefiningLogisticsCorporate  EliminationsConsolidated Total
Revenues$7,057.1 $94.5 $— $(85.2)$7,066.4 
Cost of products and other6,665.4 2.6 — (80.9)6,587.1 
Operating expenses (income)706.3 29.8 — (4.3)731.8 
Depreciation and amortization expense158.6 9.1 3.6 — 171.3 
Other segment expenses, net (1)
— 1.6 85.8 — 87.4 
Income (loss) from operations(473.2)51.4 (89.4)— (511.2)
Interest (income) expense, net(4.5)(0.2)41.6 — 36.9 
Capital expenditures215.6 2.4 0.3 — 218.3 
Balance at March 31, 2026
RefiningLogisticsCorporate  EliminationsConsolidated Total
Total assets (3)
$13,103.3 $670.0 $984.5 $(39.2)$14,718.6 
Balance at December 31, 2025
RefiningLogisticsCorporate  EliminationsConsolidated Total
Total assets (3)
$11,469.1 $683.4 $906.3 $(38.9)$13,019.9 
__________________________________
(1) Other segment (income) expenses, net include General and administrative expenses (excluding depreciation and amortization expenses), Gain on insurance recoveries, net, Equity (gain) loss in investee, and Loss on sale of assets.
(2) For the three months ended March 31, 2026, the Company’s refining segment Capital expenditures exclude $189.4 million of costs associated with the rebuild of units damaged by the Martinez refinery fire.
(3) As of March 31, 2026 and December 31, 2025, Corporate assets include the Company’s Equity method investment in SBR of $833.4 million and $826.3 million, respectively.
v3.26.1
NET INCOME PER SHARE (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Computation of basic and diluted net income (loss) 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:
Three Months Ended March 31,
(in millions, except share and per share amounts)20262025
Basic Earnings Per Share:
Allocation of earnings:
Net income (loss) attributable to PBF Energy Inc. stockholders
$198.3 $(401.8)
Less: Income allocated to participating securities
— — 
Income (loss) available to PBF Energy Inc. stockholders - basic
$198.3 $(401.8)
Denominator for basic net income (loss) per PBF Energy Class A common share - weighted average shares
117,194,615 113,754,290 
Basic net income (loss) attributable to PBF Energy per Class A common share
$1.69 $(3.53)
Diluted Earnings Per Share:
Numerator:
Income (loss) available to PBF Energy Inc. stockholders - basic
$198.3 $(401.8)
Plus: Net income (loss) attributable to noncontrolling interest (1)
1.8 (4.1)
Less: Income tax (benefit) expense on net income (loss) attributable to noncontrolling interest (1)
(0.5)1.0 
Numerator for diluted net income (loss) per PBF Energy Class A common share - net income (loss) attributable to PBF Energy Inc. stockholders (1)
$199.6 $(404.9)
Denominator: (1)
Denominator for basic net income (loss) per PBF Energy Class A common share-weighted average shares
117,194,615 113,754,290 
Effect of dilutive securities: (2)
Conversion of PBF LLC Series A Units
862,219 862,780 
Common stock equivalents
2,524,228 — 
Denominator for diluted net income (loss) per PBF Energy Class A common share-adjusted weighted average shares
120,581,062 114,617,070 
Diluted net income (loss) attributable to PBF Energy Inc. stockholders per PBF Energy Class A common share
$1.65 $(3.53)
___________________________________________
(1)    The diluted earnings per share calculation generally assumes the conversion of all outstanding PBF LLC Series A Units to PBF Energy Class A common stock. The net income (loss) attributable to PBF Energy used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income (loss), as well as the corresponding income tax (benefit) expense (based on a 26.0% estimated annualized statutory corporate tax rate for both the three months ended March 31, 2026 and 2025) attributable to the converted units.
(2)    Represents an adjustment to weighted-average diluted shares outstanding to assume the full exchange of common stock equivalents, including options and warrants for PBF LLC Series A Units and performance share units and options for shares of PBF Energy Class A common stock as calculated under the treasury stock method (to the extent the impact of such exchange would not be anti-dilutive). Common stock equivalents exclude the effects of performance share units and options and warrants to purchase 966,874 and 6,955,541 shares of PBF Energy Class A common stock and PBF LLC Series A Units because they are anti-dilutive for the three months ended March 31, 2026 and 2025, respectively. For periods showing a net loss, all common stock equivalents and unvested restricted stock are considered anti-dilutive.
v3.26.1
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION (Details) - USD ($)
$ in Millions
 3 Months Ended 15 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Dec. 31, 2025
Description of Business [Line Items]        
Percentage of ownership in PBF LLC [1] 100.00%   100.00% 100.00%
Gain on insurance recoveries, net $ (106.5) $ 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 106.5   $ 1,000.0  
Gain on insurance recoveries, net (106.5)      
Operating Expenses $ 11.5 $ 78.1    
Class A Common Stock | PBF Energy Inc.        
Description of Business [Line Items]        
Percentage of ownership in PBF LLC 99.30%   99.30% 99.30%
Series A Units | PBF LLC        
Description of Business [Line Items]        
Percentage of ownership in PBF LLC 0.70%   0.70% 0.70%
[1] Assumes all of the holders of PBF LLC Series A Units exchange their PBF LLC Series A Units for shares of PBF Energy’s Class A common stock on a one-for-one basis.
v3.26.1
INVENTORIES (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Inventory [Line Items]      
Refined products and blendstocks $ 1,311.7   $ 1,260.5
Crude oil and feedstocks 1,587.5   1,438.0
Warehouse stock and other 179.0   177.6
Inventory, Gross 3,078.2   2,876.1
Lower of cost or market adjustment 0.0   (313.0)
Total inventories 3,078.2   2,563.1
Excess of replacement or current costs over stated LIFO value 1,600.0    
Income (loss) from operations (299.6) $ 511.2  
Inventory, LIFO Reserve, Effect on Income, Net     $ 5.4
Scenario, Adjustment      
Inventory [Line Items]      
Income (loss) from operations $ 313.0    
v3.26.1
ACCRUED EXPENSES (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Accrued Expenses:    
Inventory-related accruals $ 1,867.0 $ 1,351.5
Renewable energy credit and emissions obligations [1] 653.5 574.8
Excise and sales tax payable 176.4 92.8
Accrued transportation costs 161.6 136.6
Accrued capital expenditures 72.4 126.4
Accrued utilities 67.9 82.6
Accrued refinery maintenance and support costs 51.9 56.7
Accrued purchases - SBR 48.1 39.4
Accrued salaries and benefits 20.5 61.4
Accrued interest 15.5 53.8
Current finance lease liabilities 12.4 12.2
Environmental liabilities 10.1 9.7
Other 162.7 65.0
Total accrued expenses $ 3,320.0 $ 2,662.9
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 Renewable Identification Numbers (“RINs”) required to comply with the Renewable Fuel Standard. 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 and other emissions. These requirements include incremental costs to operate, acquire renewable energy credits, 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 RINs obligation 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
v3.26.1
CREDIT FACILITIES AND DEBT (Summary of Long-Term Debt) (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Long-term debt, gross $ 2,851.6 $ 2,201.6
Unamortized deferred financing costs (37.6) (41.0)
Unamortized discount (11.7) (12.3)
Long-term debt $ 2,802.3 2,148.3
2028 6.00% Senior Notes    
Debt Instrument [Line Items]    
Interest rate 6.00%  
2030 9.875% Senior Notes    
Debt Instrument [Line Items]    
Interest rate 9.875%  
2030 7.875% Senior Notes    
Debt Instrument [Line Items]    
Interest rate 7.875%  
Revolving Credit Facility    
Debt Instrument [Line Items]    
Long-term line of credit [1] $ 750.0 100.0
2028 6.00% Senior Notes    
Debt Instrument [Line Items]    
Long-term debt [2] 801.6 801.6
2030 9.875% Senior Notes    
Debt Instrument [Line Items]    
Long-term debt [2] 800.0 800.0
2030 7.875% Senior Notes    
Debt Instrument [Line Items]    
Long-term debt [2] $ 500.0 $ 500.0
[1] 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.
[2] 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.
v3.26.1
RELATED PARTY TRANSACTIONS (Additional Information) (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Related Party Transaction [Line Items]    
Accounts receivable $ 1,936.9 $ 1,166.7
Accrued expenses 3,320.0 2,662.9
St. Bernard Renewables LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees    
Related Party Transaction [Line Items]    
Accounts receivable 81.7 44.1
Accrued expenses 48.1 $ 39.4
Limited Financial Performance Guarantee of a Term Loan $ 100.0  
Ownership percentage 50.00%  
Guarantor Obligations, Maximum Exposure, Percentage 50.00%  
v3.26.1
RELATED PARTY TRANSACTIONS (Summary of Related Party Transactions) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Transactions under commercial agreements:    
Sales $ 7,904.3 $ 7,066.4
St. Bernard Renewables LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees    
Transactions under commercial agreements:    
Sales 21.6 13.4
Purchases (157.5) (60.3)
St. Bernard Renewables LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees | General and Administrative Expense | Operating agreement    
Reimbursements under related party agreements:    
Transactions with related party 70.1 40.0
St. Bernard Renewables LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees | General and Administrative Expense | Omnibus agreement    
Reimbursements under related party agreements:    
Transactions with related party 1.0 1.0
St. Bernard Renewables LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees | General and Administrative Expense | Common asset use and servitude agreement    
Reimbursements under related party agreements:    
Transactions with related party 2.0 2.2
St. Bernard Renewables LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees | Cost of Sales | Lease Agreements    
Reimbursements under related party agreements:    
Transactions with related party $ 0.0 $ (5.3)
v3.26.1
COMMITMENTS AND CONTINGENCIES (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended
Jan. 31, 2025
Mar. 31, 2026
Dec. 31, 2025
Loss Contingencies [Line Items]      
Environmental liability   $ 150.6 $ 150.8
Environmental liability, noncurrent   $ 140.5 $ 141.1
Percent of tax benefit received from increases in tax basis paid to stockholders   85.00%  
Percentage of ownership in PBF LLC [1]   100.00% 100.00%
Payable to related party, Tax Receivable Agreement   $ 168.2  
Payment Made to Related Parties, Tax Receivable Agreement, Current, Including Interest $ 130.8    
Interest included in Tax Receivable Payment   $ 5.4  
PBF Energy Inc. | Class A Common Stock      
Loss Contingencies [Line Items]      
Percentage of ownership in PBF LLC   99.30% 99.30%
Environmental Issue | Torrance Refinery      
Loss Contingencies [Line Items]      
Environmental liability   $ 108.6 $ 108.6
[1] Assumes all of the holders of PBF LLC Series A Units exchange their PBF LLC Series A Units for shares of PBF Energy’s Class A common stock on a one-for-one basis.
v3.26.1
EQUITY (Noncontrolling Interest) (Details) - subsidiary
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Noncontrolling Interest [Line Items]    
Percentage of ownership in PBF LLC [1] 100.00% 100.00%
Chalmette Refining    
Noncontrolling Interest [Line Items]    
Number of subsidiaries 2  
Chalmette Refining | T&M Terminal Company    
Noncontrolling Interest [Line Items]    
Noncontrolling interest, ownership percentage 80.00%  
Chalmette Refining | Collins Pipeline Company    
Noncontrolling Interest [Line Items]    
Noncontrolling interest, ownership percentage 80.00%  
[1] Assumes all of the holders of PBF LLC Series A Units exchange their PBF LLC Series A Units for shares of PBF Energy’s Class A common stock on a one-for-one basis.
v3.26.1
EQUITY (Ownership Percentage) (Details) - shares
Mar. 31, 2026
Dec. 31, 2025
Noncontrolling Interest [Line Items]    
Percentage of ownership in PBF LLC [1] 100.00% 100.00%
PBF LLC    
Noncontrolling Interest [Line Items]    
Partners' Capital Account, Units, Conversion Ratio To Common Units (in shares) 1 1
Series A Units | PBF LLC    
Noncontrolling Interest [Line Items]    
Shares, outstanding (in shares) 860,839 862,780
Percentage of ownership in PBF LLC 0.70% 0.70%
Class A Common Stock | PBF Energy    
Noncontrolling Interest [Line Items]    
Shares, outstanding (in shares) 118,296,525 116,937,076
Percentage of ownership in PBF LLC 99.30% 99.30%
Total Common Class A and Series A Units    
Noncontrolling Interest [Line Items]    
Shares, outstanding (in shares) [1] 119,157,364 117,799,856
[1] Assumes all of the holders of PBF LLC Series A Units exchange their PBF LLC Series A Units for shares of PBF Energy’s Class A common stock on a one-for-one basis.
v3.26.1
EQUITY (Allocation of Equity) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]    
Balance, beginning of period $ 5,449.9 $ 5,678.6
Comprehensive income (loss) attributable to PBF Energy Company LLC 198.4 (401.1)
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 1.9 (4.1)
Comprehensive income 200.3 (405.2)
Dividends and distributions (32.4) (32.4)
Stock-based compensation expense 7.0 8.8
Transactions in connection with stock-based compensation plans 36.9 0.7
Treasury stock purchases (9.0) (5.5)
Balance, end of period 5,652.7 5,245.0
PBF Energy Inc. Equity    
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]    
Balance, beginning of period 5,319.5 5,544.2
Comprehensive income (loss) attributable to PBF Energy Company LLC 198.4 (401.1)
Dividends and distributions (32.2) (32.2)
Stock-based compensation expense 7.0 8.8
Transactions in connection with stock-based compensation plans 36.9 0.7
Treasury stock purchases (9.0) (5.5)
Balance, end of period 5,520.6 5,114.9
Noncontrolling Interest in PBF LLC    
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]    
Balance, beginning of period 117.6 121.7
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 1.8 (4.1)
Dividends and distributions (0.2) (0.2)
Balance, end of period 119.2 117.4
Noncontrolling Interest in PBF Holding    
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]    
Balance, beginning of period 12.8 12.7
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 0.1  
Balance, end of period $ 12.9 $ 12.7
v3.26.1
EQUITY (Treasury Stock) (Details)
Feb. 13, 2024
USD ($)
Repurchase Program | Class A Common Stock  
Class of Stock [Line Items]  
Stock repurchase program, authorized amount $ 1,750,000,000
v3.26.1
DIVIDENDS AND DISTRIBUTIONS (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 11, 2026
Mar. 31, 2026
Mar. 31, 2025
Class A Common Stock      
Distribution Made to Member or Limited Partner [Line Items]      
Dividends per common share (in dollars per share)   $ 0.275 $ 0.275
PBF Energy | Class A Common Stock      
Distribution Made to Member or Limited Partner [Line Items]      
Distribution made to partner (in dollars per share)   $ 0.275  
Dividends per common share (in dollars per share) $ 0.275    
PBF LLC | Cash Distribution      
Distribution Made to Member or Limited Partner [Line Items]      
Distribution made to partners   $ 31.9  
PBF Energy Inc. | PBF LLC | Cash Distribution      
Distribution Made to Member or Limited Partner [Line Items]      
Cash distribution made to Limited Liability Company (LLC) member   $ 31.7  
v3.26.1
REVENUES (Disaggregated by Product) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues $ 7,904.3 $ 7,066.4
Intersegment Eliminations    
Revenues (88.7) (85.2)
Refining Group    
Revenues 7,899.8 7,057.1
PBF Logistics LP    
Revenues 93.2 94.5
Prior to elimination    
Revenues 7,993.0 7,151.6
Gasoline and distillates | Refining Group    
Revenues 7,058.8 6,125.6
Asphalt and blackoils | Refining Group    
Revenues 318.2 237.7
Feedstocks and other | Refining Group    
Revenues 291.9 496.9
Chemicals | Refining Group    
Revenues 145.0 121.4
Lubricants | Refining Group    
Revenues $ 85.9 $ 75.5
v3.26.1
INCOME TAXES (Additional Information) (Details)
 3 Months Ended
Mar. 31, 2026
USD ($)
subsidiary
Mar. 31, 2025
USD ($)
Dec. 31, 2025
Income Taxes [Line Items]      
Percentage of ownership in PBF LLC [1] 100.00%   100.00%
Number of subsidiaries acquired | subsidiary 2    
Effective tax rate 22.70% 26.10%  
Income (loss) attributable to noncontrolling interest $ 1,900,000 $ (4,100,000)  
Noncontrolling interests, as a percent 22.60% 25.90%  
Uncertain tax position $ 0    
PBF Energy Inc. | Class A Common Stock      
Income Taxes [Line Items]      
Percentage of ownership in PBF LLC 99.30%   99.30%
[1] Assumes all of the holders of PBF LLC Series A Units exchange their PBF LLC Series A Units for shares of PBF Energy’s Class A common stock on a one-for-one basis.
v3.26.1
INCOME TAXES (Tax Provision) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount [Abstract]    
Current income tax expense $ 0.4 $ 0.5
Deferred income tax expense (benefit) 57.9 (142.4)
Total income tax expense (benefit) $ 58.3 $ (141.9)
v3.26.1
FAIR VALUE MEASUREMENTS (Measured on Recurring Basis) (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, effect of counter-party netting $ (114.1) $ (5.7)
Fair Value, Measurements, Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Non-qualified pension plan assets 18.6 18.6
Fair Value, Measurements, Recurring | Commodity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liability, gross carrying value 307.4 9.7
Derivative liability, effect of counter-party netting (208.9) (9.7)
Derivative Liability 98.5 0.0
Fair Value, Measurements, Recurring | Commodity contracts | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liability, gross carrying value 300.3 9.6
Fair Value, Measurements, Recurring | Commodity contracts | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liability, gross carrying value 7.1 0.1
Fair Value, Measurements, Recurring | Commodity contracts | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative liability, gross carrying value 0.0 0.0
Fair Value, Measurements, Recurring | Renewable energy credit and emissions obligations    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Obligations, Fair Value Disclosure 653.5 574.8
Derivative liability, effect of counter-party netting 0.0 0.0
Fair Value, Measurements, Recurring | Renewable energy credit and emissions obligations | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Obligations, Fair Value Disclosure 0.0 0.0
Fair Value, Measurements, Recurring | Renewable energy credit and emissions obligations | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Obligations, Fair Value Disclosure 653.5 574.8
Fair Value, Measurements, Recurring | Renewable energy credit and emissions obligations | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Obligations, Fair Value Disclosure 0.0 0.0
Fair Value, Measurements, Recurring | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and cash equivalents 5.9 14.2
Fair Value, Measurements, Recurring | Money market funds | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and cash equivalents 5.9 14.2
Fair Value, Measurements, Recurring | Money market funds | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and cash equivalents 0.0 0.0
Fair Value, Measurements, Recurring | Money market funds | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and cash equivalents 0.0 0.0
Fair Value, Measurements, Recurring | Commodity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, gross carrying value 208.9 20.1
Derivative assets, effect of counter-party netting (208.9) (9.7)
Derivative assets, net carrying value 0.0 10.4
Fair Value, Measurements, Recurring | Commodity contracts | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, gross carrying value 208.8 8.2
Fair Value, Measurements, Recurring | Commodity contracts | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, gross carrying value 0.1 11.9
Fair Value, Measurements, Recurring | Commodity contracts | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative assets, gross carrying value $ 0.0 $ 0.0
v3.26.1
FAIR VALUE MEASUREMENTS (Change in Fair Value at Level 3) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Transfers into Level 3 $ 0.0 $ 0.0
Transfers out of Level 3 $ 0.0 $ 0.0
v3.26.1
FAIR VALUE MEASUREMENTS (Fair Value and Carrying Value of Debt) (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt, gross $ 2,851.6 $ 2,201.6
Unamortized deferred financing costs (37.6) (41.0)
Unamortized discount (11.7) (12.3)
Long-term debt 2,802.3 2,148.3
Long-term debt, Fair value 2,924.5 2,200.2
Long-term debt excluding current maturities, Fair value 2,924.5 2,200.2
Revolving Credit Facility    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term line of credit [1] 750.0 100.0
Line of credit, Fair value [1] 750.0 100.0
2028 6.00% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term Debt [2] 801.6 801.6
Long-term debt, Fair value [2] 801.6 794.6
2030 9.875% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term Debt [2] 800.0 800.0
Long-term debt, Fair value [2] 858.7 824.3
2030 7.875% Senior Notes    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term Debt [2] 500.0 500.0
Long-term debt, Fair value [2] $ 514.2 $ 481.3
[1] 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.
[2] 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.
v3.26.1
DERIVATIVES (Additional Information) (Details)
Mar. 31, 2026
barrel
Dec. 31, 2025
barrel
Mar. 31, 2025
USD ($)
Derivative [Line Items]      
Fair Value Hedges, Net | $     $ 0
Crude Oil Commodity Contract | Not Designated as Hedging Instrument      
Derivative [Line Items]      
Derivative, notional amount, volume 32,820,000 5,889,000  
Refined Product Commodity Contract | Not Designated as Hedging Instrument      
Derivative [Line Items]      
Derivative, notional amount, volume 3,025,000 4,037,000  
v3.26.1
DERIVATIVES (Fair Value of Derivative Instruments) (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Not Designated as Hedging Instrument | Commodity contracts | Accounts receivable    
Derivatives, Fair Value [Line Items]    
Fair Value Asset/(Liability) $ (98.5) $ 10.4
v3.26.1
DERIVATIVES (Gain (Loss) Recognized in Income) (Details) - Not Designated as Hedging Instrument - Commodity contracts - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Derivative Instruments, Gain (Loss) [Line Items]    
Gain or (Loss) Recognized in Income on Derivatives $ (208.8) $ (1.3)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of Revenue Cost of Revenue
v3.26.1
SEGMENT INFORMATION (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
segment
refinery
reportable_segment
Mar. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
Segment Reporting Information [Line Items]      
Number of reportable segments | reportable_segment 2    
Number of operating refineries | refinery 6    
Number of operating segments | segment 2    
Revenues $ 7,904.3 $ 7,066.4  
Cost of products and other 6,781.9 6,587.1  
Operating expenses (excluding depreciation and amortization expense as reflected below) 688.9 731.8  
Depreciation and amortization expense 158.8 171.3  
Other segment expenses, net [1] (24.9) 87.4  
Income (loss) from operations 299.6 (511.2)  
Interest (income) expense, net 42.1 36.9  
Capital expenditures (2) 320.1 218.3  
Total assets 14,718.6   $ 13,019.9
Equity method investment in SBR 833.4   826.3
Martinez Fire Rebuild      
Segment Reporting Information [Line Items]      
Capital expenditures (2) 189.4    
Intersegment Eliminations      
Segment Reporting Information [Line Items]      
Revenues (88.7) (85.2)  
Cost of products and other (84.2) (80.9)  
Operating expenses (excluding depreciation and amortization expense as reflected below) (4.5) (4.3)  
Depreciation and amortization expense 0.0 0.0  
Other segment expenses, net [1] 0.0 0.0  
Income (loss) from operations 0.0 0.0  
Interest (income) expense, net 0.0 0.0  
Capital expenditures (2) 0.0 0.0  
Total assets (39.2)   (38.9)
Refining Group      
Segment Reporting Information [Line Items]      
Revenues 7,899.8 7,057.1  
Refining Group | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 7,899.8 7,057.1  
Cost of products and other 6,862.9 6,665.4  
Operating expenses (excluding depreciation and amortization expense as reflected below) 661.2 706.3  
Depreciation and amortization expense 146.7 158.6  
Other segment expenses, net [1] (106.2) 0.0  
Income (loss) from operations 335.3 (473.2)  
Interest (income) expense, net (16.4) (4.5)  
Capital expenditures (2) 316.1 [2] 215.6  
Total assets 13,103.3   11,469.1
PBF Logistics LP | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 93.2 94.5  
Cost of products and other 3.2 2.6  
Operating expenses (excluding depreciation and amortization expense as reflected below) 32.2 29.8  
Depreciation and amortization expense 8.3 9.1  
Other segment expenses, net [1] 1.8 1.6  
Income (loss) from operations 47.6 51.4  
Interest (income) expense, net (0.2) (0.2)  
Capital expenditures (2) 1.6 2.4  
Total assets 670.0   683.4
Corporate | Operating Segments      
Segment Reporting Information [Line Items]      
Revenues 0.0 0.0  
Cost of products and other 0.0 0.0  
Operating expenses (excluding depreciation and amortization expense as reflected below) 0.0 0.0  
Depreciation and amortization expense 3.8 3.6  
Other segment expenses, net [1] 79.5 85.8  
Income (loss) from operations (83.3) (89.4)  
Interest (income) expense, net 58.7 41.6  
Capital expenditures (2) 2.4 $ 0.3  
Total assets [3] $ 984.5   $ 906.3
[1] Other segment (income) expenses, net include General and administrative expenses (excluding depreciation and amortization expenses), Gain on insurance recoveries, net, Equity (gain) loss in investee, and Loss on sale of assets.
[2] For the three months ended March 31, 2026, the Company’s refining segment Capital expenditures exclude $189.4 million of costs associated with the rebuild of units damaged by the Martinez refinery fire.
[3] As of March 31, 2026 and December 31, 2025, Corporate assets include the Company’s Equity method investment in SBR of $833.4 million and $826.3 million, respectively
v3.26.1
NET INCOME PER SHARE (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Basic Earnings Per Share:    
Net income (loss) attributable to PBF Energy Inc. stockholders $ 198.3 $ (401.8)
Less: Income allocated to participating securities 0.0 0.0
Income (loss) available to PBF Energy Inc. stockholders - basic $ 198.3 $ (401.8)
Denominator for basic net income (loss) per Class A common share-weighted average shares (in shares) [1] 117,194,615 113,754,290
Basic net income (loss) attributable to PBF Energy per Class A common share (in dollars per share) $ 1.69 $ (3.53)
Diluted Earnings Per Share:    
Plus: Net income attributable to noncontrolling interest [1] $ 1.8 $ (4.1)
Less: Income tax expense (benefit) [1] (0.5) 1.0
Numerator for diluted net income (loss) per PBF Energy Class A common share - net income (loss) attributable to PBF Energy Inc. stockholders [1] $ 199.6 $ (404.9)
Denominator for basic net income (loss) per Class A common share-weighted average shares (in shares) [1] 117,194,615 113,754,290
Effect of dilutive securities:    
Conversion of PBF LLC Series A Units (in shares) [2] 862,219 862,780
Common stock equivalents (in shares) [2] 2,524,228 0
Denominator for diluted net income (loss) per PBF Energy Class A common share-adjusted weighted average shares (in shares) 120,581,062 114,617,070
Diluted net income (loss) attributable to PBF Energy per Class A common share (in dollars per share) $ 1.65 $ (3.53)
Statutory tax rate 26.00% 26.00%
Stock Options    
Effect of dilutive securities:    
Antidilutive common stock excluded from computation of dilutive earnings per share (in shares) 966,874 6,955,541
[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% estimated annualized statutory corporate tax rate for both the three months ended March 31, 2026 and 2025) 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 performance share units 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 966,874 and 6,955,541 shares of PBF Energy Class A common stock and PBF LLC Series A Units because they are anti-dilutive for the three months ended March 31, 2026 and 2025, respectively. For periods showing a net loss, all common stock equivalents and unvested restricted stock are considered anti-dilutive.
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SUBSEQUENT EVENTS (Details)
Apr. 30, 2026
$ / shares
Subsequent Event | Class A Common Stock  
Subsequent Event [Line Items]  
Dividends declared (in dollars per share) $ 0.275