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Additional Financial Information (Tables)
 6 Months Ended
Jun. 30, 2016
Supplemental Guarantor / Non-Guarantor Financial Information [Abstract]  
Condensed Consolidating Balance Sheet
Condensed Consolidating Balance Sheet
 
 
 
 
 
 
 
 
June 30, 2016
 
HollyFrontier
Corp. Before
Consolidation
of HEP
 
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
 
Consolidations and Eliminations
 
Consolidated
 
(In thousands)
ASSETS
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
447,108

 
$
4,882

 
$
—

 
$
451,990

Marketable securities
 
81,328

 
—

 
—

 
81,328

Accounts receivable, net
 
483,402

 
50,132

 
(52,026
)
 
481,508

Inventories
 
1,018,842

 
2,181

 
—

 
1,021,023

Income tax receivable
 
49,999

 
—

 
—

 
49,999

Prepayments and other
 
33,072

 
2,457

 
(3,279
)
 
32,250

Total current assets
 
2,113,751

 
59,652

 
(55,305
)
 
2,118,098

 
 
 
 
 
 
 
 
 
Properties, plants and equipment, net
 
3,099,417

 
1,093,001

 
(238,374
)
 
3,954,044

Intangibles and other assets
 
2,087,138

 
500,119

 
318

 
2,587,575

Total assets
 
$
7,300,306

 
$
1,652,772

 
$
(293,361
)
 
$
8,659,717

 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
Accounts payable
 
$
944,055

 
$
21,427

 
$
(52,026
)
 
$
913,456

Accrued liabilities
 
113,691

 
24,686

 
(3,279
)
 
135,098

Total current liabilities
 
1,057,746

 
46,113

 
(55,305
)
 
1,048,554

 
 
 
 
 
 
 
 
 
Long-term debt
 
594,987

 
1,083,136

 
—

 
1,678,123

Liability to HEP
 
214,888

 
—

 
(214,888
)
 
—

Deferred income tax liabilities
 
532,195

 
466

 
—

 
532,661

Other long-term liabilities
 
144,097

 
59,198

 
(826
)
 
202,469

 
 
 
 
 
 
 
 
 
Investment in HEP
 
126,943

 
—

 
(126,943
)
 
—

Equity – HollyFrontier
 
4,629,450

 
368,412

 
(361,488
)
 
4,636,374

Equity – noncontrolling interest
 
—

 
95,447

 
466,089

 
561,536

Total liabilities and equity
 
$
7,300,306

 
$
1,652,772

 
$
(293,361
)
 
$
8,659,717

Condensed Consolidating Balance Sheet
 
 
 
 
 
 
 
 
December 31, 2015
 
HollyFrontier
Corp. Before
Consolidation
of HEP
 
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
 
Consolidations and Eliminations
 
Consolidated
 
(In thousands)
ASSETS
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
51,520

 
$
15,013

 
$
—

 
$
66,533

Marketable securities
 
144,019

 
—

 
—

 
144,019

Accounts receivable, net
 
355,020

 
41,075

 
(44,117
)
 
351,978

Inventories
 
839,897

 
1,972

 
—

 
841,869

Prepayments and other
 
48,288

 
3,082

 
(7,704
)
 
43,666

Total current assets
 
1,438,744

 
61,142

 
(51,821
)
 
1,448,065

 
 
 
 
 
 
 
 
 
Properties, plants and equipment, net
 
3,261,494

 
1,099,683

 
(245,515
)
 
4,115,662

Intangibles and other assets
 
2,410,879

 
417,574

 
(3,881
)
 
2,824,572

Total assets
 
$
7,111,117

 
$
1,578,399

 
$
(301,217
)
 
$
8,388,299

 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
Accounts payable
 
$
738,024

 
$
22,583

 
$
(44,117
)
 
$
716,490

Income taxes payable
 
8,142

 
—

 
—

 
8,142

Accrued liabilities
 
117,346

 
26,341

 
(7,704
)
 
135,983

Total current liabilities
 
863,512

 
48,924

 
(51,821
)
 
860,615

 
 
 
 
 
 
 
 
 
Long-term debt
 
31,288

 
1,008,752

 
—

 
1,040,040

Liability to HEP
 
220,998

 
—

 
(220,998
)
 
—

Deferred income tax liabilities
 
497,475

 
431

 
—

 
497,906

Other long-term liabilities
 
125,614

 
59,376

 
(5,025
)
 
179,965

 
 
 
 
 
 
 
 
 
Investment in HEP
 
120,721

 
—

 
(120,721
)
 
—

Equity – HollyFrontier
 
5,251,509

 
366,487

 
(364,581
)
 
5,253,415

Equity – noncontrolling interest
 
—

 
94,429

 
461,929

 
556,358

Total liabilities and equity
 
$
7,111,117

 
$
1,578,399

 
$
(301,217
)
 
$
8,388,299
Condensed Consolidating Statement of Income and Comprehensive Income
Condensed Consolidating Statement of Income and Comprehensive Income
 
 
 
 
Three Months Ended June 30, 2016
 
HollyFrontier
Corp. Before
Consolidation
of HEP
 
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
 
Consolidations and Eliminations
 
Consolidated
 
(In thousands)
Sales and other revenues
 
$
2,699,069

 
$
94,896

 
$
(79,327
)
 
$
2,714,638

Operating costs and expenses:
 
 
 
 
 
 
 
 
Cost of products sold
 
2,321,919

 
—

 
(73,764
)
 
2,248,155

Lower of cost or market inventory valuation adjustment
 
(138,473
)
 
—

 
—

 
(138,473
)
Operating expenses
 
228,792

 
27,255

 
(4,711
)
 
251,336

General and administrative
 
26,793

 
2,862

 
—

 
29,655

Depreciation and amortization
 
78,689

 
15,305

 
(3,571
)
 
90,423

Goodwill and asset impairment
 
654,084

 
—

 
—

 
654,084

Total operating costs and expenses
 
3,171,804

 
45,422

 
(82,046
)
 
3,135,180

Income (loss) from operations
 
(472,735
)
 
49,474

 
2,719

 
(420,542
)
Other income (expense):
 

 
 
 
 
 
 
Earnings of equity method investments
 
25,096

 
3,623

 
(25,096
)
 
3,623

Interest income (expense)
 
(339
)
 
(11,164
)
 
(2,221
)
 
(13,724
)
Gain on sale of assets and other
 
127

 
1

 
—

 
128

 
 
24,884

 
(7,540
)
 
(27,317
)
 
(9,973
)
Income (loss) before income taxes
 
(447,851
)
 
41,934

 
(24,598
)
 
(430,515
)
Income tax expense (benefit)
 
(38,098
)
 
53

 
—

 
(38,045
)
Net income (loss)
 
(409,753
)
 
41,881

 
(24,598
)
 
(392,470
)
Less net income (loss) attributable to noncontrolling interest
 
(9
)
 
2,355

 
14,552

 
16,898

Net income (loss) attributable to HollyFrontier stockholders
 
$
(409,744
)
 
$
39,526

 
$
(39,150
)
 
$
(409,368
)
Comprehensive income (loss) attributable to HollyFrontier stockholders
 
$
(399,324
)
 
$
39,470

 
$
(39,095
)
 
$
(398,949
)


Condensed Consolidating Statement of Income and Comprehensive Income
 
 
 
 
 
 
Three Months Ended June 30, 2015
 
HollyFrontier
Corp. Before
Consolidation
of HEP
 
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
 
Consolidations and Eliminations
 
Consolidated
 
(In thousands)
Sales and other revenues
 
$
3,686,644

 
$
83,479

 
$
(68,211
)
 
$
3,701,912

Operating costs and expenses:
 
 
 
 
 
 
 
 
Cost of products sold
 
2,954,989

 
—

 
(67,514
)
 
2,887,475

Lower of cost or market inventory valuation adjustment
 
(135,480
)
 
—

 
—

 
(135,480
)
Operating expenses
 
220,790

 
25,289

 
86

 
246,165

General and administrative
 
23,421

 
2,696

 
—

 
26,117

Depreciation and amortization
 
76,710

 
14,660

 
(3,567
)
 
87,803

Total operating costs and expenses
 
3,140,430

 
42,645

 
(70,995
)
 
3,112,080

Income from operations
 
546,214

 
40,834

 
2,784

 
589,832

Other income (expense):
 
 
 
 
 
 
 
 
Earnings of equity method investments
 
20,175

 
631

 
(20,175
)
 
631

Interest income (expense)
 
1,580

 
(9,053
)
 
(2,318
)
 
(9,791
)
Loss on early extinguishment of debt
 
(1,368
)
 
—

 
—

 
(1,368
)
Gain on sale of assets and other
 
801

 
72

 
—

 
873

 
 
21,188

 
(8,350
)
 
(22,493
)
 
(9,655
)
Income before income taxes
 
567,402

 
32,484

 
(19,709
)
 
580,177

Income tax expense (benefit)
 
207,054

 
(64
)
 
—

 
206,990

Net income
 
360,348

 
32,548

 
(19,709
)
 
373,187

Less net income (loss) attributable to noncontrolling interest
 
(10
)
 
1,743

 
10,630

 
12,363

Net income attributable to HollyFrontier stockholders
 
$
360,358

 
$
30,805

 
$
(30,339
)
 
$
360,824

Comprehensive income attributable to HollyFrontier stockholders
 
$
356,676

 
$
30,893

 
$
(30,427
)
 
$
357,142


Condensed Consolidating Statement of Income and Comprehensive Income
 
 
 
 
 
 
Six Months Ended June 30, 2016
 
HollyFrontier
Corp. Before
Consolidation
of HEP
 
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
 
Consolidations and Eliminations
 
Consolidated
 
(In thousands)
Sales and other revenues
 
$
4,698,766

 
$
196,906

 
$
(162,310
)
 
$
4,733,362

Operating costs and expenses:
 
 
 
 
 
 
 
 
Cost of products sold
 
4,024,987

 
—

 
(151,669
)
 
3,873,318

Lower of cost or market inventory valuation adjustment
 
(194,594
)
 
—

 
—

 
(194,594
)
Operating expenses
 
458,809

 
54,078

 
(8,968
)
 
503,919

General and administrative
 
49,323

 
5,953

 
—

 
55,276

Depreciation and amortization
 
154,110

 
31,334

 
(7,141
)
 
178,303

Goodwill and asset impairment
 
654,084

 
—

 
—

 
654,084

Total operating costs and expenses
 
5,146,719

 
91,365

 
(167,778
)
 
5,070,306

Income (loss) from operations
 
(447,953
)
 
105,541

 
5,468

 
(336,944
)
Other income (expense):
 
 
 
 
 
 
 
 
Earnings of equity method investments
 
50,893

 
6,388

 
(50,893
)
 
6,388

Interest income (expense)
 
369

 
(21,587
)
 
(4,518
)
 
(25,736
)
Loss on early extinguishment of debt
 
(8,718
)
 
—

 
—

 
(8,718
)
Gain (loss) on sale of assets and other
 
200

 
(7
)
 
—

 
193

 
 
42,744

 
(15,206
)
 
(55,411
)
 
(27,873
)
Income (loss) before income taxes
 
(405,209
)
 
90,335

 
(49,943
)
 
(364,817
)
Income tax expense (benefit)
 
(15,886
)
 
149

 
—

 
(15,737
)
Net income (loss)
 
(389,323
)
 
90,186

 
(49,943
)
 
(349,080
)
Less net income (loss) attributable to noncontrolling interest
 
(16
)
 
7,282

 
31,769

 
39,035

Net income (loss) attributable to HollyFrontier stockholders
 
$
(389,307
)
 
$
82,904

 
$
(81,712
)
 
$
(388,115
)
Comprehensive income (loss) attributable to HollyFrontier stockholders
 
$
(379,298
)
 
$
82,670

 
$
(81,479
)
 
$
(378,107
)



Condensed Consolidating Statement of Income and Comprehensive Income
 
 
 
 
 
 
Six Months Ended June 30, 2015
 
HollyFrontier
Corp. Before
Consolidation
of HEP
 
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
 
Consolidations and Eliminations
 
Consolidated
 
(In thousands)
Sales and other revenues
 
$
6,676,142

 
$
173,235

 
$
(140,839
)
 
$
6,708,538

Operating costs and expenses:
 
 
 
 
 
 
 
 
Cost of products sold
 
5,277,870

 
—

 
(139,022
)
 
5,138,848

Lower of cost or market inventory valuation adjustment
 
(142,026
)
 
—

 
—

 
(142,026
)
Operating expenses
 
456,793

 
53,255

 
(287
)
 
509,761

General and administrative
 
49,700

 
5,986

 
—

 
55,686

Depreciation and amortization
 
145,968

 
28,950

 
(7,103
)
 
167,815

Total operating costs and expenses
 
5,788,305

 
88,191

 
(146,412
)
 
5,730,084

Income from operations
 
887,837

 
85,044

 
5,573

 
978,454

Other income (expense):
 
 
 
 
 
 
 
 
Earnings (loss) of equity method investments
 
32,076

 
1,365

 
(40,617
)
 
(7,176
)
Interest income (expense)
 
3,502

 
(17,820
)
 
(4,665
)
 
(18,983
)
Loss on early extinguishment of debt
 
(1,368
)
 
—

 
—

 
(1,368
)
Gain on sale of assets and other
 
1,409

 
230

 
—

 
1,639

 
 
35,619

 
(16,225
)
 
(45,282
)
 
(25,888
)
Income before income taxes
 
923,456

 
68,819

 
(39,709
)
 
952,566

Income tax expense (benefit)
 
336,681

 
37

 
—

 
336,718

Net income
 
586,775

 
68,782

 
(39,709
)
 
615,848

Less net income (loss) attributable to noncontrolling interest
 
(17
)
 
5,770

 
22,395

 
28,148

Net income attributable to HollyFrontier stockholders
 
$
586,792

 
$
63,012

 
$
(62,104
)
 
$
587,700

Comprehensive income attributable to HollyFrontier stockholders
 
$
571,588

 
$
62,805

 
$
(61,897
)
 
$
572,496



Condensed Consolidating Statement of Cash Flows
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
 
HollyFrontier
Corp. Before
Consolidation
of HEP
 
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
 
Consolidations and Eliminations
 
Consolidated
 
(In thousands)
Cash flows from operating activities
 
$
256,019

 
$
104,076

 
$
(49,769
)
 
$
310,326

 
 
 
 
 
 
 
 
 
Cash flows from investing activities
 
 
 
 
 
 
 
 
Additions to properties, plants and equipment
 
(257,378
)
 
—

 
—

 
(257,378
)
Additions to properties, plants and equipment – HEP
 
—

 
(32,667
)
 
—

 
(32,667
)
Purchase of equity method investment
 
—

 
(42,500
)
 
—

 
(42,500
)
Proceeds from sale of assets
 
390

 
18

 
—

 
408

Purchases of marketable securities
 
(86,798
)
 
—

 
—

 
(86,798
)
Sales and maturities of marketable securities
 
149,599

 
—

 
—

 
149,599

 
 
(194,187
)
 
(75,149
)
 
—

 
(269,336
)
 
 
 
 
 
 
 
 
 
Cash flows from financing activities
 
 
 
 
 
 
 
 
Net borrowings under credit agreements
 
—

 
74,000

 
—

 
74,000

Net proceeds from issuance of senior notes
 
246,690

 
—

 
—

 
246,690

Net proceeds from issuance of term loan
 
350,000

 
—

 
—

 
350,000

Proceeds from issuance of common units
 
—

 
13,690

 
—

 
13,690

Purchase of treasury stock
 
(133,430
)
 
—

 
—

 
(133,430
)
Dividends
 
(116,795
)
 
—

 
—

 
(116,795
)
Distributions to noncontrolling interest
 
—

 
(93,609
)
 
49,769

 
(43,840
)
Repayment of financing obligation
 
—

 
(39,500
)
 
—

 
(39,500
)
Contribution from general partner
 
(10,586
)
 
10,586

 
—

 
—

Other, net
 
(2,123
)
 
(4,225
)
 
—

 
(6,348
)
 
 
333,756

 
(39,058
)
 
49,769

 
344,467

 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
 
 
 
 
 
 
 
Increase (decrease) for the period
 
395,588

 
(10,131
)
 
—

 
385,457

Beginning of period
 
51,520

 
15,013

 
—

 
66,533

End of period
 
$
447,108

 
$
4,882

 
$
—

 
$
451,990
Condensed Consolidating Statement of Cash Flows
Condensed Consolidating Statement of Cash Flows
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
 
HollyFrontier
Corp. Before
Consolidation
of HEP
 
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
 
Consolidations and Eliminations
 
Consolidated
 
(In thousands)
Cash flows from operating activities
 
$
256,019

 
$
104,076

 
$
(49,769
)
 
$
310,326

 
 
 
 
 
 
 
 
 
Cash flows from investing activities
 
 
 
 
 
 
 
 
Additions to properties, plants and equipment
 
(257,378
)
 
—

 
—

 
(257,378
)
Additions to properties, plants and equipment – HEP
 
—

 
(32,667
)
 
—

 
(32,667
)
Purchase of equity method investment
 
—

 
(42,500
)
 
—

 
(42,500
)
Proceeds from sale of assets
 
390

 
18

 
—

 
408

Purchases of marketable securities
 
(86,798
)
 
—

 
—

 
(86,798
)
Sales and maturities of marketable securities
 
149,599

 
—

 
—

 
149,599

 
 
(194,187
)
 
(75,149
)
 
—

 
(269,336
)
 
 
 
 
 
 
 
 
 
Cash flows from financing activities
 
 
 
 
 
 
 
 
Net borrowings under credit agreements
 
—

 
74,000

 
—

 
74,000

Net proceeds from issuance of senior notes
 
246,690

 
—

 
—

 
246,690

Net proceeds from issuance of term loan
 
350,000

 
—

 
—

 
350,000

Proceeds from issuance of common units
 
—

 
13,690

 
—

 
13,690

Purchase of treasury stock
 
(133,430
)
 
—

 
—

 
(133,430
)
Dividends
 
(116,795
)
 
—

 
—

 
(116,795
)
Distributions to noncontrolling interest
 
—

 
(93,609
)
 
49,769

 
(43,840
)
Repayment of financing obligation
 
—

 
(39,500
)
 
—

 
(39,500
)
Contribution from general partner
 
(10,586
)
 
10,586

 
—

 
—

Other, net
 
(2,123
)
 
(4,225
)
 
—

 
(6,348
)
 
 
333,756

 
(39,058
)
 
49,769

 
344,467

 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
 
 
 
 
 
 
 
Increase (decrease) for the period
 
395,588

 
(10,131
)
 
—

 
385,457

Beginning of period
 
51,520

 
15,013

 
—

 
66,533

End of period
 
$
447,108

 
$
4,882

 
$
—

 
$
451,990




Condensed Consolidating Statement of Cash Flows
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2015
 
HollyFrontier
Corp. Before
Consolidation
of HEP
 
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
 
Consolidations and Eliminations
 
Consolidated
 
(In thousands)
Cash flows from operating activities
 
$
502,802

 
$
111,031

 
$
(43,893
)
 
$
569,940

 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
Additions to properties, plants and equipment
 
(247,070
)
 
—

 
—

 
(247,070
)
Additions to properties, plants and equipment – HEP
 
—

 
(69,843
)
 
—

 
(69,843
)
Purchases of marketable securities
 
(246,008
)
 
—

 
—

 
(246,008
)
Sales and maturities of marketable securities
 
327,310

 
—

 
—

 
327,310

Proceeds from sale of assets
 
1,846

 
386

 
—

 
2,232

 
 
(163,922
)
 
(69,457
)
 
—

 
(233,379
)
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
Net borrowings under credit agreement
 
—

 
33,000

 
—

 
33,000

Redemption of senior notes
 
(155,156
)
 
—

 
—

 
(155,156
)
Purchase of treasury stock
 
(320,132
)
 
—

 
—

 
(320,132
)
Accelerated stock repurchase forward contract
 
(60,000
)
 
—

 
—

 
(60,000
)
Dividends
 
(125,192
)
 
—

 
—

 
(125,192
)
Distributions to noncontrolling interest
 
—

 
(85,489
)
 
43,893

 
(41,596
)
Contribution from general partner
 
(19,610
)
 
19,610

 
—

 
—

Other, net
 
(1,010
)
 
(1,101
)
 
—

 
(2,111
)
 
 
(681,100
)
 
(33,980
)
 
43,893

 
(671,187
)
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
 
 
 
 
 
 
 
Increase (decrease) for the period:
 
(342,220
)
 
7,594

 
—

 
(334,626
)
Beginning of period
 
565,155

 
2,830

 
—

 
567,985

End of period
 
$
222,935

 
$
10,424

 
$
—

 
$
233,359