STOCK-BASED COMPENSATION (Tables)
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12 Months Ended |
Dec. 31, 2019 |
|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Share-Based Payment Awards, Performance Awards, Valuation Assumptions [Table Text Block] |
The performance share awards are accounted for as equity awards, for which the fair value was determined on the grant date by application of a Monte Carlo valuation model. The grant date fair value was calculated using a Monte Carlo valuation model with the following assumptions: | | | | | | | | | | | | December 31, 2019 | | December 31, 2018 | Expected life (in years) | | 2.17 - 2.88 |
| | 2.17 |
| Expected volatility | | 37.19% - 41.70% |
| | 39.04 | % | Dividend yield | | 3.40% - 3.67% |
| | 2.95 | % | Risk-free rate of return | | 1.66% - 2.51% |
| | 2.89 | % | Weighted average fair value per PSU | | $ | 27.99 |
| | $ | 50.23 |
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| Schedule of stock-based compensation expense |
Stock-based compensation expense included in general and administrative expenses consisted of the following: | | | | | | | | | | | | | | | | Years Ended December 31, | (in millions) | | 2019 | | 2018 | | 2017 | PBF Energy options | | $ | 15.8 |
| | $ | 11.5 |
| | $ | 9.4 |
| PBF Energy restricted shares | | 6.5 |
| | 7.5 |
| | 12.1 |
| PBF Energy performance awards | | 8.2 |
| | 1.2 |
| | — |
| PBFX phantom units | | 6.8 |
| | 5.8 |
| | 5.3 |
| | | $ | 37.3 |
| | $ | 26.0 |
| | $ | 26.8 |
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| Weighted average assumptions |
The Black-Scholes option-pricing model values used to value stock option awards granted were determined based on the following weighted average assumptions: | | | | | | | | | | | | | | | | December 31, 2019 | | December 31, 2018 | | December 31, 2017 | Expected life (in years) | | 6.25 |
| | 6.25 |
| | 6.25 |
| Expected volatility | | 38.6 | % | | 35.8 | % | | 39.5 | % | Dividend yield | | 3.54 | % | | 3.49 | % | | 4.58 | % | Risk-free rate of return | | 2.16 | % | | 2.82 | % | | 2.09 | % | Exercise price | | $ | 34.11 |
| | $ | 35.25 |
| | $ | 26.52 |
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| PBF Energy [Member] | Performance share units [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Summary of Share-based compensation activity |
The following table summarizes activity for PBF Energy performance share awards: | | | | | | | | | | | Number of
PBF Energy
PSUs | | Weighted Average Grant Date Fair Value | Nonvested at January 1, 2018 | | — |
| | $ | — |
| Granted | | 179,072 |
| | 50.23 |
| Forfeited | | — |
| | — |
| Nonvested at December 31, 2018 | | 179,072 |
| | $ | 50.23 |
| Granted | | 181,725 |
| | 27.99 |
| Forfeited | | — |
| | — |
| Nonvested at December 31, 2019 | | 360,797 |
| | $ | 39.03 |
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| PBF Energy [Member] | Employee Stock Option [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Summary of Share-based compensation activity |
The following table summarizes activity for PBF Energy options for the years ended December 31, 2019, 2018 and 2017. | | | | | | | | | | | | | | Number of
PBF Energy
Class A
Common
Stock Options | | Weighted
Average
Exercise Price | | Weighted
Average
Remaining
Contractual
Life
(in years) | Stock-based awards, outstanding at January 1, 2017 | | 5,970,625 |
| | $ | 27.37 |
| | 8.02 |
| Granted | | 1,638,075 |
| | 26.52 |
| | 10.00 |
| Exercised | | (462,500 | ) | | 25.65 |
| | — |
| Forfeited | | (263,425 | ) | | 27.71 |
| | — |
| Outstanding at December 31, 2017 | | 6,882,775 |
| | $ | 27.27 |
| | 7.82 |
| Granted | | 2,500,742 |
| | 35.25 |
| | 10.00 |
| Exercised | | (884,878 | ) | | 27.57 |
| | — |
| Forfeited | | (141,981 | ) | | 33.49 |
| | — |
| Outstanding at December 31, 2018 | | 8,356,658 |
| | $ | 29.60 |
| | 7.48 |
| Granted | | 1,899,909 |
| | 34.11 |
| | 10.00 |
| Exercised | | (49,656 | ) | | 24.23 |
| | — |
| Forfeited | | (132,995 | ) | | 31.65 |
| | — |
| Outstanding at December 31, 2019 | | 10,073,916 |
| | $ | 30.47 |
| | 7.17 |
| Exercisable and vested at December 31, 2019 | | 5,345,051 |
| | $ | 28.37 |
| | 5.94 |
| Exercisable and vested at December 31, 2018 | | 3,531,066 |
| | $ | 27.39 |
| | 6.27 |
| Exercisable and vested at December 31, 2017 | | 2,958,875 |
| | $ | 27.58 |
| | 6.77 |
| Expected to vest at December 31, 2019 | | 10,073,916 |
| | $ | 30.47 |
| | 7.17 |
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| PBF Energy [Member] | Restricted Stock [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Summary of Share-based compensation activity |
The following table summarizes activity for PBF Energy restricted stock: | | | | | | | | | | | Number of
PBF Energy
Restricted Class A
Common Stock | | Weighted Average Grant Date Fair Value | Nonvested at January 1, 2017 | | 521,369 |
| | $ | 24.89 |
| Granted | | 762,425 |
| | 25.86 |
| Vested | | (172,978 | ) | | 24.99 |
| Forfeited | | (15,100 | ) | | 24.18 |
| Nonvested at December 31, 2017 | | 1,095,716 |
| | $ | 25.56 |
| Granted | | 58,830 |
| | 47.24 |
| Vested | | (345,073 | ) | | 26.13 |
| Forfeited | | (15,519 | ) | | 24.18 |
| Nonvested at December 31, 2018 | | 793,954 |
| | $ | 26.88 |
| Granted | | 58,324 |
| | 28.20 |
| Vested | | (356,204 | ) | | 26.68 |
| Forfeited | | (3,849 | ) | | 24.18 |
| Nonvested at December 31, 2019 | | 492,225 |
| | $ | 27.21 |
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| PBF Energy [Member] | Performance Units [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Summary of Share-based compensation activity |
The following table summarizes activity for PBF Energy performance unit awards: | | | | | | | Number of
PBF Energy
Performance Units (in equivalent $’s) | Nonvested at January 1, 2018 | | — |
| Granted | | 7,279,188 |
| Forfeited | | — |
| Nonvested at December 31, 2018 | | 7,279,188 |
| Granted | | 7,751,658 |
| Forfeited | | — |
| Nonvested at December 31, 2019 | | 15,030,846 |
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| PBFX [Member] | Phantom Share Units (PSUs) [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Summary of Share-based compensation activity |
A summary of PBFX’s unit award activity for the years ended December 31, 2019, 2018 and 2017 is set forth below: | | | | | | | | | | | Number of Phantom Units | | Weighted Average Grant Date Fair Value | Nonvested at January 1, 2017 | | 564,880 |
| | $ | 22.47 |
| Granted | | 319,940 |
| | 20.97 |
| Vested | | (217,171 | ) | | 23.15 |
| Forfeited | | (24,875 | ) | | 21.23 |
| Nonvested at December 31, 2017 | | 642,774 |
| | $ | 21.54 |
| Granted | | 328,052 |
| | 19.95 |
| Vested | | (233,993 | ) | | 22.71 |
| Forfeited | | (20,125 | ) | | 18.81 |
| Nonvested at December 31, 2018 | | 716,708 |
| | $ | 20.53 |
| Granted | | 343,848 |
| | 21.39 |
| Vested | | (292,341 | ) | | 20.20 |
| Forfeited | | (6,375 | ) | | 20.31 |
| Nonvested at December 31, 2019 | | 761,840 |
| | $ | 20.77 |
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