ACCRUED EXPENSES

9 Months Ended

Sep. 30, 2020

Accrued expenses consisted of the following:


PBF Energy (in millions)	September 30, 2020		December 31, 2019
Inventory-related accruals	$	697.2	$	1,103.2
Renewable energy credit and emissions obligations	236.2		17.7
Inventory intermediation agreements	217.4		278.1
Excise and sales tax payable	122.4		98.6
Accrued transportation costs	87.6		88.7
Accrued interest	72.5		12.1
Accrued utilities	42.8		40.1
Accrued refinery maintenance and support costs	42.5		16.9
Accrued salaries and benefits	35.7		81.1
Current finance lease liabilities	14.2		6.5
Contingent consideration	13.7		10.0
Environmental liabilities	12.2		12.8
Accrued capital expenditures	8.6		32.2
Customer deposits	4.9		1.8
Other	26.2		15.8
Total accrued expenses	$	1,634.1	$	1,815.6


PBF LLC (in millions)	September 30, 2020		December 31, 2019
Inventory-related accruals	$	697.2	$	1,103.2
Renewable energy credit and emissions obligations	236.2		17.7
Inventory intermediation agreements	217.4		278.1
Excise and sales tax payable	122.4		98.6
Accrued interest	107.7		39.5
Accrued transportation costs	87.6		88.7
Accrued utilities	42.8		40.1
Accrued refinery maintenance and support costs	42.5		16.9
Accrued salaries and benefits	35.7		81.1
Current finance lease liabilities	14.2		6.5
Contingent consideration	13.7		10.0
Environmental liabilities	12.2		12.8
Accrued capital expenditures	8.6		32.2
Customer deposits	4.9		1.8
Other	30.3		19.0
Total accrued expenses	$	1,673.4	$	1,846.2

The Company has the obligation to repurchase the J. Aron Products that are held in its J. Aron Storage Tanks in accordance with the Inventory Intermediation Agreements with J. Aron. As of September 30, 2020 and December 31, 2019, a liability is recognized for the Inventory Intermediation Agreements and is recorded at market price for the J. Aron owned inventory held in the Company’s J. Aron Storage Tanks under the Inventory Intermediation Agreements, with any change in the market price being recorded in Cost of products and other.

The Company is subject to obligations to purchase Renewable Identification Numbers (“RINs”) required to comply with the Renewable Fuels Standard. The Company’s overall RINs obligation is based on a percentage of domestic shipments of on-road fuels as established by Environmental Protection Agency. 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, to address environmental compliance and greenhouse gas and other emissions. These requirements include incremental costs to operate and maintain our 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.