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%
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*    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.