v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Summarized Financial Information
Summarized financial information concerning reportable segments consists of the following (in thousands).
Three Months Ended June 30, 2026RefiningLogisticsRetailCorporate, Eliminations and Other (1)Total
Revenues
Fuel revenue
$2,849,966 $— $153,696 $(96,691)$2,906,971 
Other revenue
55,116 79,584 27,829 (100,631)61,898 
Total revenues
2,905,082 79,584 181,525 (197,322)2,968,869 
Cost of revenues (excluding depreciation)
Refining intercompany logistics costs75,180 — — (75,180)— 
Other cost of revenues (excluding depreciation)2,049,514 48,353 140,805 (122,483)2,116,189 
Total cost of revenues (excluding depreciation)
2,124,694 48,353 140,805 (197,663)2,116,189 
Operating expense (excluding depreciation)
128,452 5,262 23,408 — 157,122 
Depreciation and amortization26,652 6,142 2,759 901 36,454 
General and administrative expense (excluding depreciation)— — — 28,047 28,047 
Equity earnings from refining and logistics investments(4,776)(2,692)— — (7,468)
Acquisition and integration costs— — — — — 
Par West redevelopment and other costs— — — 3,676 3,676 
Other operating loss, net144 — — 152 296 
Operating income (loss)$629,916 $22,519 $14,553 $(32,435)$634,553 
Interest expense and financing costs, net(14,268)
Debt extinguishment and commitment costs(11,461)
Other loss, net(171)
Equity losses from Laramie Energy, LLC(1,666)
Income before income taxes606,987 
Income tax expense(144,046)
Net income$462,941 
Less:
Net income attributable to noncontrolling interest810 
Net income attributable to Par Pacific stockholders$462,131 
Capital expenditures$28,917 $5,336 $4,747 $711 $39,711 
Three Months Ended June 30, 2025RefiningLogisticsRetailCorporate, Eliminations and Other (1)Total
Revenues
Fuel revenue$1,799,653 $— $118,687 $(83,514)$1,834,826 
Other revenue26,856 73,005 27,998 (69,247)58,612 
Total revenues1,826,509 73,005 146,685 (152,761)1,893,438 
Cost of revenues (excluding depreciation)
Refining intercompany logistics costs69,244 — — (69,244)— 
Other cost of revenues (excluding depreciation)1,532,731 41,166 103,096 (83,514)1,593,479 
Total cost of revenues (excluding depreciation)1,601,975 41,166 103,096 (152,758)1,593,479 
Operating expense (excluding depreciation)123,597 4,797 20,286 — 148,680 
Depreciation and amortization24,919 6,530 2,510 753 34,712 
General and administrative expense (excluding depreciation)— — — 23,648 23,648 
Equity earnings from refining and logistics investments(5,493)(1,812)— — (7,305)
Acquisition and integration costs— — — — — 
Par West redevelopment and other costs— — — 4,690 4,690 
Other operating loss (gain), net191 (1,417)— — (1,226)
Operating income (loss)$81,320 $23,741 $20,793 $(29,094)$96,760 
Interest expense and financing costs, net(22,106)
Debt extinguishment and commitment costs— 
Other loss, net(163)
Equity earnings from Laramie Energy, LLC1,856 
Loss before income taxes76,347 
Income tax expense(16,887)
Net income$59,460 
Less:
Net income attributable to noncontrolling interest— 
Net income attributable to Par Pacific stockholders$59,460 
Capital expenditures$39,221 $6,981 $1,469 455 $48,126 
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(1)Includes eliminations of intersegment revenues and cost of revenues of $197.3 million and $152.8 million for the three months ended June 30, 2026 and 2025, respectively.
Six Months Ended June 30, 2026RefiningLogisticsRetailCorporate, Eliminations and Other (1)Total
Revenues
Fuel revenue$4,590,834 $— $262,305 $(182,821)$4,670,318 
Other revenue86,775 156,430 52,328 (173,232)122,301 
Total revenues
4,677,609 156,430 314,633 (356,053)4,792,619 
Cost of revenues (excluding depreciation)
Refining intercompany logistics costs147,786 — — (147,786)— 
Other cost of revenues (excluding depreciation)3,554,429 91,314 237,767 (208,817)3,674,693 
Total cost of revenues (excluding depreciation)3,702,215 91,314 237,767 (356,603)3,674,693 
Operating expense (excluding depreciation)
244,372 11,154 44,114 — 299,640 
Depreciation and amortization52,073 11,942 5,194 1,705 70,914 
General and administrative expense (excluding depreciation)— — — 52,922 52,922 
Equity earnings from refining and logistics investments(8,153)(5,144)— — (13,297)
Acquisition and integration costs— — — 64 64 
Par West redevelopment and other costs— — — 6,661 6,661 
Other operating loss, net870 125 — 152 1,147 
Operating income (loss)$686,232 $47,039 $27,558 $(60,954)$699,875 
Interest expense and financing costs, net(30,202)
Debt extinguishment and commitment costs(11,523)
Other expense, net(185)
Equity earnings from Laramie Energy, LLC7,513 
Income before income taxes665,478 
Income tax expense(156,386)
Net income$509,092 
Less:
Net loss attributable to noncontrolling interest(7,489)
Net income attributable to Par Pacific stockholders$516,581 
Capital expenditures$60,870 $11,324 $7,979 $2,608 $82,781 
Six Months Ended June 30, 2025RefiningLogisticsRetailCorporate, Eliminations and Other (1)Total
Revenues
Fuel revenue$3,405,188 $— $230,308 $(164,332)$3,471,164 
Other revenue107,450 144,420 52,809 (137,369)167,310 
Total revenues3,512,638 144,420 283,117 $(301,701)3,638,474 
Cost of revenues (excluding depreciation)
Refining intercompany logistics costs137,393 — — (137,393)— 
Other cost of revenues (excluding depreciation)3,035,704 81,733 199,735 (164,333)3,152,839 
Total cost of revenues (excluding depreciation)3,173,097 81,733 199,735 (301,726)3,152,839 
Operating expense (excluding depreciation)242,217 9,162 41,455 — 292,834 
Depreciation and amortization51,316 13,349 5,172 1,461 71,298 
General and administrative expense (excluding depreciation)— — — 47,891 47,891 
Equity earnings from refining and logistics investments(10,782)(4,037)— — (14,819)
Acquisition and integration costs— — — — — 
Par West redevelopment and other costs— — — 8,672 8,672 
Other operating loss (gain), net191 (1,417)1 — (1,225)
Operating income (loss)$56,599 $45,630 $36,754 $(57,999)$80,984 
Interest expense and financing costs, net(43,954)
Debt extinguishment and commitment costs(25)
Other expense, net(534)
Equity earnings from Laramie Energy, LLC2,582 
Income before income taxes39,053 
Income tax expense(9,993)
Net income$29,060 
Less:
Net income attributable to noncontrolling interest— 
Net income attributable to Par Pacific stockholders$29,060 
Capital expenditures$73,195 $10,802 $3,927 $1,135 $89,059 
________________________________________________________ 
(1)Includes eliminations of intersegment revenues and cost of revenues of $356.1 million and $301.7 million for the six months ended June 30, 2026 and 2025, respectively.