Subsequent Events

3 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

(16) Subsequent Events

Dividend

On April 25, 2018, the board of directors of the Company declared a cash dividend for the first quarter of 2018 to the Company's stockholders of $0.50 per share, or $43.4 million in the aggregate. The dividend will be paid on May 14, 2018 to stockholders of record at the close of business on May 7, 2018. IEP will receive $35.6 million in respect of its 82% ownership interest in the Company's shares.

Refining Partnership Distribution

On April 25, 2018, the board of directors of the Refining Partnership's general partner declared a cash distribution for the first quarter of 2018 to the Refining Partnership's unitholders of $0.51 per common unit, or $75.3 million in aggregate. The cash distribution will be paid on May 14, 2018 to unitholders of record at the close of business on May 7, 2018. The Company will receive $49.6 million in respect of its Refining Partnership common units.