STOCK-BASED COMPENSATION (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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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) | | 2024 | | 2023 | | 2022 | | | | | | | | | | | | | | | | PBF Energy options | | $ | 4.5 | | | $ | 11.9 | | | $ | 19.1 | | | PBF Energy restricted shares | | 21.7 | | | 17.9 | | | 11.6 | | | PBF Energy performance awards | | 18.1 | | | 21.7 | | | 13.4 | | | PBFX phantom units | | — | | | — | | | 10.2 | | | | $ | 44.3 | | | $ | 51.5 | | | $ | 54.3 | |
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| Schedule of Share-Based Payment Awards, Performance Awards, Valuation Assumptions |
The grant date fair value was calculated using a Monte Carlo valuation model with the following assumptions: | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | December 31, 2023 | | December 31, 2022 | | Expected life (in years) | | 2.82 - 3.04 | | 2.86 - 3.18 | | 3.08 | | Expected volatility | | 53.66% - 56.02% | | 56.68% - 59.98% | | 65.16% | | Dividend yield | | 2.07% - 3.93% | | 1.73% - 1.80% | | 2.18% | | Risk-free rate of return | | 4.17% - 4.35% | | 4.40% - 4.75% | | 3.90% | | Weighted average grant-date fair value per PSU | | $ | 34.04 | | | $ | 56.35 | | | $ | 45.91 | |
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| PBF Energy | Employee Stock Option |
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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 2024: | | | | | | | | | | | | | | | | | | | | | | | 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, 2024 | | 7,453,454 | | | $ | 23.98 | | | 5.26 | | | | | | | | | Exercised | | (1,004,884) | | | 21.69 | | | — | | | Forfeited | | (17,695) | | | 15.37 | | | — | | | Outstanding at December 31, 2024 | | 6,430,875 | | | $ | 24.36 | | | 4.18 | | Exercisable and vested at December 31, 2024 | | 6,426,041 | | | $ | 24.35 | | | 4.18 | | Total expected to vest as of December 31, 2024 | | 4,834 | | | $ | 28.81 | | | 7.44 |
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| PBF Energy | Restricted Stock |
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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, 2024 | | 1,052,506 | | | $ | 41.43 | | | Granted | | 1,350,576 | | | 28.60 | | | Vested | | (460,294) | | | 40.01 | | | Forfeited | | (18,893) | | | 41.81 | | | Nonvested at December 31, 2024 | | 1,923,895 | | | $ | 32.60 | |
Unrecognized compensation expense related to PBF Energy Restricted Class A common stock at December 31, 2024 was $38.9 million, which will be recognized from 2025 through 2027. The following table reflects activity related to our restricted stock: | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | December 31, 2023 | | December 31, 2022 | | Weighted-average grant-date fair value per share of restricted stock granted | | $ | 28.60 | | | $ | 44.90 | | | $ | 35.73 | | Fair value of restricted stock vested (in millions) | | $ | 15.5 | | | $ | 11.2 | | | $ | 3.3 | |
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| PBF Energy | Performance share units |
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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
Performance Share Units (“PSU”) | | Weighted Average
Grant Date
Fair Value | | Nonvested at January 1, 2024 | | 631,443 | | | $ | 38.48 | | | Granted | | 253,223 | | | 34.04 | | | Vested | | (246,862) | | | 18.73 | | | Forfeited | | (25,394) | | | 49.78 | | | Nonvested at December 31, 2024 | | 612,410 | | | $ | 44.14 | |
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| PBF Energy | Performance Units |
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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 | | Nonvested at January 1, 2024 | | 43,557,161 | | | Granted | | 14,274,646 | | | Vested | | (2,194,890) | | | Forfeited | | (9,632,887) | | | Nonvested at December 31, 2024 | | 46,004,030 | |
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