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  "documentTitle": "Par Pacific | Investor Presentation Deck | 27 slides",
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  "presentationDate": "2024-02-01 00:00:00",
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      "text": "Consolidated Adjusted EBITDA by Segment Reconciliation (1)\nFor the twelve months ended December 31, 2022\n($ in thousands)",
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      "text": "(1) Please read slide 21 for the definition of Adjusted EBITDA by segment used herein. For the twelve months ended December 31, 2022, there was no gain on curtailment of pension obligation or LIFO liquidation adjustment. 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 titled 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 liability. 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 redevelopment 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, taxes, 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 been recast for prior periods when reported to conform to the modified presentation.",
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      "text": "Operating income (loss)\nAdjustments to operating income (loss):\nDepreciation and amortization\nInventory valuation adjustment\nEnvironmental credit mark-to-market adjustments\nUnrealized loss on commodity derivatives\nAcquisition and integration costs\nSeverance costs\nLoss (gain) on sale of assets, net\nOther income/expense\nAdjusted EBITDA",
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      "text": "Non-GAAP Financial Measures",
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