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  "documentTitle": "Par Pacific | Investor Presentation Deck | 27 slides",
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      "text": "Consolidated Adjusted EBITDA by Segment Reconciliation (1)\nFor the twelve months ended December 31, 2020\n($ in thousands)",
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      "text": "(1) Please read slide 21 for the definition of Adjusted EBITDA by segment used herein. Beginning in the third quarter of 2020, Adjusted EBITDA by segment excludes the LIFO layer liquidation impacts associated with our Washington inventory. There was no LIFO liquidation adjustment for the twelve months ended December 31, 2020. 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 For the twelve months ended December 31, 2020, there was no gain on curtailment of post retirement medical plan obligation.",
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      "text": "Operating income (loss)\nAdjustments to operating income (loss):\nDepreciation and amortization\nInventory valuation adjustment\nEnvironmental credit mark-to-market\nadjustments\nUnrealized loss on commodity derivatives\nAcquisition and integration costs\nSeverance costs\nImpairment expense\nOther income/expense\nAdjusted EBITDA",
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      "text": "Non-GAAP Financial Measures",
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