PAR PACIFIC HOLDINGS, INC. (PARR) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Refining	7,046.1	4,471.1	2,886.7	5,167.9	3,210.1	2,319.6	1,702.5	1,895.7
Retail	570.2	456.4	363.7	458.9	441.0	326.1	290.4	283.5
Logistics	198.8	184.7	180.9	199.2	125.7	121.5	102.8	82.7
Total revenues	7,321.8	4,710.1	3,124.9	5,401.5	3,410.7	2,443.1	1,865.0	2,066.3
Revenue growth [+]	55.4%	50.7%	-42.1%	58.4%	39.6%	31.0%	-9.7%	-33.5%
Refining	57.6%	54.9%	-44.1%	61.0%	38.4%	36.3%	-10.2%	-32.7%
Retail	24.9%	25.5%	-20.7%	4.0%	35.3%	12.3%	2.4%	22.4%
Logistics	7.6%	2.1%	-9.2%	58.4%	3.5%	18.2%	24.3%	17.3%
Cost of goods sold [+]	342.2	299.7	277.4	312.9	215.3	202.0	1,805.7	1,929.0
Cost of product sales							1,636.3	1,787.4
Other direct costs							169.4	141.6
Gross profit	6,979.6	4,410.4	2,847.4	5,088.6	3,195.4	2,241.1	59.3	137.3
Gross margin	95.3%	93.6%	91.1%	94.2%	93.7%	91.7%	3.2%	6.6%
Selling, general and administrative [+]	62.4	48.1	41.3	46.2	47.4	46.1	42.1	44.3
General and administrative	62.4	48.1	41.3	46.2	47.4	46.1	42.1	44.3
Equity in earnings			-46.9	-89.8	9.5	18.4	-22.4	-56.0
Other operating expenses	6,422.7	4,404.1	2,924.6	4,830.0	2,977.7	2,055.9	13.0	9.5
EBITDA [+]	494.5	-41.7	-165.3	122.6	179.8	157.5	-18.1	27.6
EBITDA growth	-1285.1%	-74.8%	-234.8%	-31.8%	14.2%	-968.6%	-165.6%	-14418.1%
EBITDA margin	6.8%	-0.9%	-5.3%	2.3%	5.3%	6.4%	-1.0%	1.3%
Depreciation and amortization	99.8	94.2	90.0	86.1	52.6	46.0	31.6	19.9
EBIT [+]	394.8	-136.0	-255.4	36.5	127.2	111.5	-49.7	7.7
EBIT growth	-390.3%	-46.8%	-799.7%	-71.3%	14.1%	-324.1%	-744.7%	-151.1%
EBIT margin	5.4%	-2.9%	-8.2%	0.7%	3.7%	4.6%	-2.7%	0.4%
Non-recurring items [+]	-43.1	-128.4	109.5	-21.7	35.8	-0.8	-7.7	2.2
Asset impairment		1.8	85.8					9.6
Restructuring charges	3.7	0.1	0.6	4.7	10.3	0.4	5.3	2.0
Loss (gain) on sale of assets	-0.2	-64.7
Interest expense	68.3	66.5	70.2	74.8	39.8	31.6	28.5	20.2
Interest expense	68.3	66.5	70.2	74.8	39.8	31.6	28.5	20.2
Other income (expense), net [+]	-4.7	-6.2	5.3	-12.3	-11.9	-9.4	16.8	-42.1
Unrealized gain/loss on derivatives			4.3	-3.2	1.8	-1.7	3.0	-3.7
Change in fair value of warrants			4.3	-3.2	1.8	-1.7	3.0	-3.7
Change in value of contingent liability					-10.5		10.8	-18.5
Write-off of deferred debt issuance costs								-19.7
Other	0.6	-0.1	1.0	2.5	1.0	0.9	0.0	-0.3
Pre-tax income	364.9	-80.3	-429.8	-28.9	39.8	71.3	-53.7	-56.7
Income taxes	0.7	1.0	-20.7	-69.7	0.3	-1.3	-7.9	-16.8
Tax rate	0.2%		4.8%	241.3%	0.8%		14.7%	29.6%
Net income	364.2	-81.3	-409.1	40.8	39.4	72.6	-45.8	-39.9
Net margin	5.0%	-1.7%	-13.1%	0.8%	1.2%	3.0%	-2.5%	-1.9%

Basic EPS [+]	$6.12	($1.40)	($7.68)	$0.81	$0.86	$1.59	($1.08)	($1.06)
Growth	-538.4%	-81.8%	-1047.1%	-6.0%	-45.9%	-247.3%	2.2%	-26.3%
Diluted EPS [+]	$6.08	($1.40)	($7.68)	$0.81	$0.86	$1.59	($1.08)	($1.06)
Growth	-535.9%	-81.8%	-1049.3%	-6.2%	-45.9%	-247.2%	2.2%	-26.3%

Shares outstanding (basic) [+]	59.5	58.3	53.3	50.4	45.7	45.5	42.3	37.7
Growth	2.2%	9.3%	5.8%	10.1%	0.4%	7.5%	12.4%	15.1%
Shares outstanding (diluted) [+]	59.9	58.3	53.3	50.5	45.8	45.6	42.3	37.7
Growth	2.8%	9.3%	5.6%	10.3%	0.4%	7.6%	12.4%	15.1%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.