Other companies, including other companies in our industry, may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure.The information in this report is being furnished, not filed, pursuant to Regulation FD.
6Urj Code To Registration Statement FiledAccordingly, the information in Items 7.01 and 9.01 of this report will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.The furnishing of the information in this report is not intended to, and does not, constitute a determination or admission by the Company that the information in this report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company or any of its affiliates.Forward-Looking Statements Statements contained in the exhibit to this report reflecting the Companys or its managements expectations or predictions relating to future plans, results, performance, achievements and the like are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which may be beyond the Companys control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors and uncertainties that may cause actual results to differ include but are not limited to the risks disclosed in the Companys filings with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date hereof. 6Urj Code To Update Any ForwardThe Company undertakes no obligation to revise or update any forward-looking statements except as may be required by applicable law. Item 9.01. Financial Statements and Exhibits. Exhibits Exhibit No. Description 99.1 Presentation materials dated February 2015 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. Dated: February 25, 2015 PBF Energy Inc. ![]() Forward-looking statements should not be read as a guarantee of future performance or results, and may not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. Forward-looking statements are based on information available at the time, and are subject to various risks and uncertainties that could cause the Companies actual performance or results to differ materially from those expressed in such statements. ![]() The Companies assume no responsibility or obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information after such date. Schedule is subject to change based on current company plans and on current third party railcar manufacturer delivery schedules PBF has the flexibility to source either rail- delivered or waterborne crude oil depending on economics East Coast access to North American-produced crude oil delivered by rail provides optionality 130,000 bpd PBFX-owned light crude oil unloading facility 40,000 bpd PBFX-owned heavy crude oil unloading capacity through the West Rack 40,000 bpd PBF-owned heavy crude oil unloading capacity through the East Rack 4,020 leased railcars in the PBF fleet as of December 31, 2014 5,900 4,592 3,479 PBF and PBFX lead the way on rail safety All crude oil delivered to East Coast rail facilities is transported in the new-style DOT-111A rail cars PBF supports increased efforts to enhance the safety of rail operations through the use of a modernized rail fleet, improved operating standards, increased rail inspection and maintenance activities to ensure the safe transport of all crude oil and products. Excludes the impact of the fourth quarter 2014, non-cash lower-of-cost-or-market inventory adjustment 2. Net proceeds received by PBF Logistics from the sale of the 15,812,500 common units totaled approximately 341.0 million, after deducting the underwriting discount and structuring fee, but before taking into account estimated offering expenses 3. Net proceeds received by PBF Energy from the drop-down of the Delaware City West Rack and Toledo Storage Facility were approximately 270 million in cash and 30 million in PBF Logistics LP common units. Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Net Debt to Net Capitalization (1). Our outstanding indebtedness for borrowed money and other contractual obligations also include similar measures as a basis for certain covenants under those agreements which may differ from the Adjusted EBITDA definition described below. EBITDA and Adjusted EBITDA are not presentations made in accordance with GAAP and our computation of EBITDA and Adjusted EBITDA may vary from others in our industry. In addition, Adjusted EBITDA contains some, but not all, adjustments that are taken into account in the calculation of the components of various covenants in the agreements governing the senior secured notes and other credit facilities. EBITDA and Adjusted EBITDA should not be considered as alternatives to operating income or net income as measures of operating performance. ![]() Adjusted EBITDA is defined as EBITDA before equity-based compensation expense, gains (losses) from certain derivative activities and contingent consideration and the non-cash change in the deferral of gross profit related to the sale of certain finished products.
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