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PBF Energy Reports 2012 Fourth Quarter And Full Year Results, Announces Board Approval For Rail Expansion Project, Declares Fourth Quarter 2012 Dividend Of $0.30 Per Share And Provides Other Updates

In addition, because EBITDA and Adjusted EBITDA are not calculated in the same manner by all companies, they are not necessarily comparable to other similarly titled measures used by other companies. EBITDA and Adjusted EBITDA have their limitations as an analytical tool, and you should not consider them in isolation or as substitutes for analysis of our results as reported under GAAP.

   
PBF ENERGY INC. AND SUBSIDIARIES
MARKET INDICATORS
(dollars per barrel, except as noted)
                       
Three Months Ended

December 31,

Year Ended

December 31,

Market Indicators (1)   2012     2011   2012   2011  
Dated Brent Crude $ 110.08 $ 109.35 $ 111.67 $ 111.26
West Texas Intermediate (WTI) crude oil $ 88.15 $ 94.02 $ 94.13 $ 95.04
Crack Spreads
Dated Brent (NYH) 2-1-1 $ 13.61 $ 9.13 $ 14.29 $ 9.93
WTI (Chicago) 4-3-1 $ 25.68 $ 17.90 $ 27.13 $ 24.14
Crude Oil Differentials
Dated Brent (foreign) less WTI $ 21.92 $ 15.34 $ 17.54 $ 16.22
Dated Brent less Maya (heavy, sour) $ 17.04 $ 5.96 $ 12.04 $ 12.63
Dated Brent less WTS (sour) $ 31.22 $ 16.18 $ 22.95 $ 18.28
Dated Brent less ASCI (sour) $ 6.50 $ 2.55 $ 4.97 $ 3.82
WTI less WCS (heavy, sour) $ 26.32 $ 12.29 $ 21.80 $ 15.63
WTI less Bakken (light, sweet) $ 3.03 $ 1.02 $ 5.77 $ (3.31 )
WTI less Syncrude (light, sweet) $ (0.10 ) $ 5.75 $ 0.96 $ (9.79 )
Natural gas (dollars per MMBTU) $ 3.54 $ 3.48 $ 2.83 $ 4.00
 
Key Operating Information
Production (barrels per day in thousands) 462.5 460.6 464.4 427.9
Crude oil and feedstocks throughput (barrels per day in thousands) 461.0 461.1 463.2 429.4
Total crude oil and feedstocks throughput (millions of barrels) 42.4 42.4 169.5 128.7
 
(1) As reported by Platts.
 
   
PBF ENERGY INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET DATA
(Unaudited, in thousands)
           
December 31, December 31,
  2012     2011  
Balance Sheet Data:
Cash and cash equivalents $ 285,884 $ 50,166
Inventories $ 1,497,119 $ 1,516,727
Total assets $ 4,253,702 $ 3,621,109
Total long-term debt $ 729,980 $ 804,865
Total equity $ 1,723,545 $ 1,110,918
   
Total debt to capitalization ratio 30 % 42 %
Net debt to capitalization ratio 20 % 40 %




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