{ "docId": "019de517-0921-73c5-a78a-4031cfaf4c19", "docSlug": "bac9bed0ff48c2d3ef9899b60a2a85a3", "documentTitle": "Par Pacific | Investor Presentation Deck | 26 slides", "authorId": "par-pacific", "authorName": "Par Pacific", "documentKindSlug": "pitchdeck", "documentKindLabel": "Pitch deck", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2023-10-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 21, "pageCount": 26, "prevPage": 20, "nextPage": 22, "slideType": "appendix_data", "function": "appendix", "density": "overcrowded", "nDataPoints": 36, "notes": null, "elementsJson": null, "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019de517-0921-73c5-a78a-4031cfaf4c19/21", "deckHref": "/decks/019de517-0921-73c5-a78a-4031cfaf4c19", "deckJsonHref": "/decks/019de517-0921-73c5-a78a-4031cfaf4c19.json", "deckAnchorHref": "/decks/019de517-0921-73c5-a78a-4031cfaf4c19#slide-21", "components": [ { "bbox": { "h": 0.03, "w": 0.09, "x": 0.45, "y": 0.94 }, "kind": "image", "text": "Par Pacific", "attrs": {}, "subkind": "logo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f430adca-728b-4b2c-9c5b-5b6156933c59", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.02, "x": 0.48, "y": 0.9 }, "kind": "other", "text": "20", "attrs": {}, "subkind": "unclassified", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6d543b86-fd10-42db-8c4f-ef283dd78f8a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.4, "x": 0.22, "y": 0.14 }, "kind": "paragraph", "text": "Consolidated Adjusted EBITDA by Segment Reconciliation (1)\nFor the twelve months ended June 30, 2023\n($ in thousands)", "attrs": {}, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "13156744-f7b2-43dd-b213-f8aabf4e1fa9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.29, "w": 0.8, "x": 0.09, "y": 0.66 }, "kind": "source-note", "text": "(1) Adjusted EBITDA by segment is defined as Operating income (loss) by segment excluding depreciation and amortization expense, inventory valuation adjustment (which adjusts for timing differences to reflect the economics of our\ninventory financing agreements, including lower of cost or net realizable value adjustments, the impact of the embedded derivative repurchase or terminal obligations, contango (gains) and backwardation losses associated with our\nWashington inventory and intermediation obligation, and purchase price allocation adjustments), the LIFO layer liquidation impacts associated with our Washington inventory, Environmental credit mark-to-market adjustments (which\nrepresents the income statement effect of reflecting our RINs liability and Washington net emissions liability on a net basis,), unrealized loss (gain) on derivatives, acquisition and integration costs, severance costs, loss (gain) on sale of\nassets, and impairment expense. Adjusted EBITDA by segment also includes Gain on curtailment of pension obligation and Other income (expense), net, which are presented below operating income (loss) on our condensed consolidated\nstatements of operations. Beginning with financial results reported for periods in fiscal year 2022, the inventory valuation adjustment was modified to include the first-in, first-out (\"FIFO\") inventory gains (losses) associated with our\ntitled manufactured inventory in Hawaii. Beginning with financial results reported for the second quarter of 2022, Adjusted Net Income and Adjusted EBITDA also exclude the mark-to-market losses (gains) associated with our net RINs\nliability. Beginning with the financial results reported in the first quarter of 2023, Adjusted Net Income and Adjusted EBITDA also exclude the mark-to-market losses (gains) associated with our net Washington CCA liability and the\nredevelopment and other costs of our Par West facility. Beginning with financial results report for the second quarter of 2023, Adjusted Gross Margin, Adjusted Net Income (Loss), and Adjusted EBITDA also exclude our portion of interest,\ntaxes, and depreciation expense from our refining and logistics investments. This modification was made to better reflect our operating performance and to improve comparability between periods. Adjusted EBITDA by segment has\nbeen recast for prior periods when reported to conform to the modified presentation. Adjusted EBITDA by segment presented by other companies may not be comparable to our presentation as other companies may define these terms\ndifferently. For the twelve months ended June 30, 2023, there was no gain on curtailment of pension obligation or LIFO liquidation adjustment.", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b0a85fcc-535a-40ef-beaf-b0f97c4e5b2a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.4, "w": 0.56, "x": 0.21, "y": 0.23 }, "kind": "table", "text": "Operating income (loss)\nAdjustments to operating income (loss):\nDepreciation and amortization\nPar's portion of interest, taxes, and depreciation\nexpense from refining and logistics investments\nInventory valuation adjustment\nEnvironmental credit mark-to-market\nadjustments\nUnrealized loss on derivatives\nAcquisition and integration costs\nPar West operating and redevelopment costs\nSeverance costs\nLoss (gain) on sale of assets, net\nOther income/expense\nAdjusted EBITDA", "attrs": {}, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a015637f-f8ab-4790-b6a9-0c5f6293b8a8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.56, "x": 0.22, "y": 0.06 }, "kind": "title", "text": "Non-GAAP Financial Measures", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "106f6d16-aaf8-4712-a71c-b8582c11e14b", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Table data", "slug": "table-data", "agent": null, "layer": "slide", "matchId": "e23f91f4-8121-44ba-be10-45cae864ff2e", "evidence": "table/data: Operating income (loss) Adjustments to operating income (loss):...", "confidence": 0.9 } ], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }