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FacilitiesFacilities (1) Principal Products6Facilities (2)Facilities (3)9Principal Products (1)Facilities (4)Principal Products (2)l&PART II<PART II (1)PPART II (2)xFinancial DataOther Financial Data^Refining Operating Data &3Contractual Obligations and Com (1)$,!Interest Rate Risk Management&0Reconciliations of earnings bef&xCReconciliation of produced prod&^Reconciliation of average cost &yReconciliation of average refin&Reconciliation of net operating&52REPORT OF INDEPENDENT REGISTE"4CONSOLIDATED BALANCE SHEETS& CONSOLIDATED STATEMENTS OF INCO&CONSOLIDATED STATEMENTS OF COMP&9CONSOLIDATED STATEMENTS OF CASH&3sCONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)$CLevel 3 Financial Instruments$1Level 3 Financial Instrum (1)&Restricted Stock and Restricted&
Continued (2)5
Continued (3)H
Continued (4)[
Continued (5)l
Continued (6)
Continued (7)w
Continued (8)Accounting Hedges `Economic HedgesxEconomic Hedges (1)
Continued (9)Continued (10)I6Continued (11)LVContinued (12)ZhContinued (13)x{Continued (14)hContinued (15)XContinued (16)Continued (17)Continued (18)HContinued (19)Continued (20)&+Postretirement Healthcare Plans&GPostretirement Healthcare P (1)TWContinued (21)iContinued (22){Continued (23)& (2)WContinued (24)Continued (25)4Continued (26)Continued (27)>Continued (28)bContinued (29)HContinued (30)ƩContinued (31)YContinued (32)Continued (33)&"Item 15 Exhibits Financial Stat%5INDEX TO EXHIBITSlINDEX TO EXHIBITS (1)
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??RTABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERATIONS (1)!Principal Products and Customer
FacilitiesFacilities (1)Principal ProductsFacilities (2)Facilities (3)Principal Products (1)Facilities (4)Principal Products (2) PART II
PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)!Postretirement Healthcare Plans!Postretirement Healthcare P (1)Continued (21)Continued (22)Continued (23)! (2)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Continued (30)Continued (31)Continued (32)Continued (33)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSINDEX TO EXHIBITS (1)U }0}$ }+
HollyFrontier Corp10K
02/24/2016Washington, D.C. 20549
Delaware
751056913'(State or other jurisdiction of,$(I.R.S. Employer Identification No.)&incorporation or organization)
#2828 N. Harwood, Suite 1300
752011507
Dallas, Texas0((Address of principal executive offices)
(Zip Code)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0vj^:sOW=PF0*8X>
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PART II (1)
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Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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HollyFrontier Corp10K
02/24/2016TABLE OF CONTENTS
Item
PagePART I
"ForwardLooking Statements~
Definitions~
( 1 and 2. Business and properties~
1A. Risk Factors~
Z%1B. Unresolved staff comments~
3. Legal proceedings~
"4. Mine safety disclosures~
PART II1)5. Market for Registrant's common equity,~
.&related stockholder matters and issuer&purchases of equity securities"6. Selected financial data~
/'7. Management's discussion and analysis~
80of financial condition and results of operationsDl{ocK+lTW? i5 !"#$%&'()*+,./0123456789:;<=>?4 ,7A. Quantitative and qualitative disclosures~
!about market risk""1#)Reconciliations to amounts reported under~
#0$(generally accepted accounting principles%%1&)8. Financial statements and supplementary~
&'data8(09. Changes in and disagreements with accountants~
(.)&on accounting and financial disclosure#*9A. Controls and procedures~
*+9B. Other information~
+,,PART III../%10. Directors, executive officers and~
/0corporate governance"111. Executive compensation~
142,12. Security ownership of certain beneficial~
253owners and management and related stockholder4matters5%13. Certain relationships and related~
5/6'transactions, and director independence27*14. Principal accounting fees and services~
7889PART IV9::3;+15. Exhibits, financial statement schedules~
;<<=
Signatures~
=>>?Index to exhibits~
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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02/24/2016REFINERY OPERATIONS
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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02/24/2016REFINERY OPERATIONS
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PART II (1)
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02/24/2016( Principal Products and Customers
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PART II (1)
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HollyFrontier Corp10K
02/24/2016
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PART II (1)
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HollyFrontier Corp10K
02/24/2016
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PART II (1)
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
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02/24/2016
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PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
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HollyFrontier Corp10K
02/24/2016
Facilities
Feedstocks:
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
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Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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HollyFrontier Corp10K
02/24/2016Principal Products
Years Ended December 31,~
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FacilitiesFacilities (1)Principal ProductsFacilities (2)Facilities (3)Principal Products (1)Principal Products (2) PART II
PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
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Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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HollyFrontier Corp10K
02/24/2016
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
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HollyFrontier Corp10K
02/24/2016Principal Products
Years Ended December 31,~
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
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HollyFrontier Corp10K
02/24/2016PART II
Years Ended December 31,
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HollyFrontier Corp10K
02/24/2016PART II
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HollyFrontier Corp10K
02/24/2016PART II
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HollyFrontier Corp10K
02/24/2016
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02/24/2016/'Contractual Obligations and Commitments
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02/24/2016
5
Notional Contract Volumes by Year of Maturity
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HollyFrontier Corp10K
02/24/2016
2
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FacilitiesFacilities (1)Principal ProductsFacilities (2)Facilities (3)Principal Products (1)Facilities (4)Principal Products (2) PART II
PART II (1)
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FacilitiesFacilities (1)Principal ProductsFacilities (2)Facilities (3)Principal Products (1)Facilities (4)Principal Products (2) PART II
PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTE!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
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HollyFrontier Corp10K
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PART II (1)
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FacilitiesFacilities (1)Principal ProductsFacilities (2)Facilities (3)Principal Products (1)Facilities (4)Principal Products (2) PART II
PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI
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Continued (5)
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Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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HollyFrontier Corp10K
02/24/2016 Continued
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??RWashington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERATIONS (1)!Principal Products and Customer
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI ContinuedLevel 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
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Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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HollyFrontier Corp10K
02/24/2016 Continued
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
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PART II (1)
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02/24/2016 Continued
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HollyFrontier Corp10K
02/24/2016 Continued
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PART II (1)
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02/24/2016 Continued
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Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)!Postretirement Healthcare Plans!Postretirement Healthcare P (1)Continued (21)Continued (22)Continued (23)! (2)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Continued (30)Continued (31)Continued (32)Continued (33)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSINDEX TO EXHIBITS (1)U }'}$
HollyFrontier Corp10K
02/24/2016 Continued
December 31,~
~~
z(In thousands)(
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)!Postretirement Healthcare Plans!Postretirement Healthcare P (1)Continued (21)Continued (22)Continued (23)! (2)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Continued (30)Continued (31)Continued (32)Continued (33)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSINDEX TO EXHIBITS (1)U }0.}$
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HollyFrontier Corp10K
02/24/2016 Continued
December 31,~
~~
z(In thousands)
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PART II (1)
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Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)Accounting Hedges Economic HedgesEconomic Hedges (1)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)!Postretirement Healthcare Plans!Postretirement Healthcare P (1)Continued (21)Continued (22)Continued (23)! (2)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Continued (30)Continued (31)Continued (32)Continued (33)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSINDEX TO EXHIBITS (1)U }}$
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02/24/2016 Continued !
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PART II (1)
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Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8) Economic HedgesEconomic Hedges (1)
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HollyFrontier Corp10K
02/24/2016Accounting Hedges
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(Unrealized Gain (Loss) Recognized in OCI
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PART II (1)
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Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
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Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting HedgesEconomic HedgesEconomic Hedges (1)
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02/24/2016
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Notional Contract Volumes by Year of Maturity
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic Hedges (1)
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02/24/2016Economic Hedges
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FacilitiesFacilities (1)Principal ProductsFacilities (2)Facilities (3)Principal Products (1)Facilities (4)Principal Products (2) PART II
PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic Hedges
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)!Postretirement Healthcare Plans!Postretirement Healthcare P (1)Continued (21)Continued (22)Continued (23)! (2)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Continued (30)Continued (31)Continued (32)Continued (33)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSINDEX TO EXHIBITS (1)U }a/}$ }}$ }}$ }}
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HollyFrontier Corp10K
02/24/2016Economic Hedges
5
Notional Contract Volumes by Year of Maturity
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)!Postretirement Healthcare Plans!Postretirement Healthcare P (1)Continued (21)Continued (22)Continued (23)! (2)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Continued (30)Continued (31)Continued (32)Continued (33)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSINDEX TO EXHIBITS (1)U }:}$ }}
$
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HollyFrontier Corp10K
02/24/2016 Continued
0
(Unrealized Gain (Loss) Recognized in OCI
6
.Loss Recognized in Earnings Due to SettlementsLocationAmount(In thousands)$
Year Ended December 31, 2015
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PART II (1)
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Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
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Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
Continued (9)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)!Postretirement Healthcare Plans!Postretirement Healthcare P (1)Continued (21)Continued (22)Continued (23)! (2)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Continued (30)Continued (31)Continued (32)Continued (33)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSINDEX TO EXHIBITS (1)U }$}$
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HollyFrontier Corp10K
02/24/2016 Continued
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!Derivatives in Net Asset Position

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Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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02/24/2016 Continued
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Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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PART II (1)
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Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
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Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
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Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
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HollyFrontier Corp10K
02/24/2016 Continued
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HollyFrontier Corp10K
02/24/2016 Continued
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??RWashington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERATIONS (1)!Principal Products and Customer
FacilitiesFacilities (1)Principal ProductsFacilities (2)Facilities (3)Principal Products (1)Facilities (4)Principal Products (2) PART II
PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)!Postretirement Healthcare Plans!Postretirement Healthcare P (1)Continued (21)Continued (22)Continued (23)! (2)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Continued (30)Continued (31)Continued (32)Continued (33)!Item 15 Exhibits Financial StatINDEX TO EXHIBITS (1)U }}$ }=
HollyFrontier Corp10K
02/24/2016INDEX TO EXHIBITS
Exhibit Number
Description@0(Asset Sale and Purchase Agreement, dated
0
(October 19, 2009, between Holly Refining0(& MarketingTulsa LLC, HEP Tulsa LLC and5Sinclair Tulsa Refining Company (incorporated3+by reference to Exhibit 2.1 of Registrant's0(Current Report on Form 8K filed October$21, 2009, File No. 103876).@2*Amendment No. 1 to Asset Sale and Purchase2*Agreement, dated December 1, 2009, between%Holly Refining & MarketingTulsa LLC,1)HEP Tulsa LLC and Sinclair Tulsa Refining%Company (incorporated by reference to2*Exhibit 2.1 of Registrant's Current Report0(on Form 8K filed December 7, 2009, File
No. 103876).ffffff@0(Asset Sale and Purchase Agreement, dated.&April 15, 2009, between Holly Refining.&& MarketingMidcon, L.L.C. and Sunoco,D2 l{oc?@TPl#X4 !"#$%&'()*+,./0123456789:;<=>? 6 .Inc. (incorporated by reference to Exhibit 2.1!!.!&of Registrant's Current Report on Form""4",8K filed April 16, 2009, File No. 103876).###$333333@$0$(Agreement and Plan of Merger among Holly%%,%$Corporation, North Acquisition, Inc.&&4&,and Frontier Oil Corporation, dated February''.'&21, 2011 (incorporated by reference to((2(*Exhibit 2.1 of Registrant's Current Report))1))on Form 8K filed February 22, 2011, File***
No. 103876).+++,@,9,1Amended and Restated Certificate of Incorporation2*of HollyFrontier Corporation (incorporated..3.+by reference to Exhibit 3.1 of Registrant's//0/(Current Report on Form 8K filed July 8,00 02011, File No. 103876).1112 @242,Amended and Restated Bylaws of HollyFrontier33.3&Corporation (incorporated by reference44.4&to Exhibit 3.1 of Registrant's Current5535+Report on Form 8K filed February 20, 2014,666File No. 103876).7778ffffff@818)Indenture, dated November 22, 2010, among99;93HollyFrontier Corporation (as successorininterest::4:,to Frontier Oil Corporation), the Guarantors;;3;+and Wells Fargo Bank, National Association,<<3<+providing for the issuance of 6 7/8% Senior==1=)Notes due 2018 (incorporated by reference>>4>,to Exhibit 4.1 of Frontier Oil Corporation's??1?)Current Report on Form 8K filed NovemberDmldVn!q#L(>BL@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_@@'@22, 2010, File Number 107627).AAAB@B4B,First Supplemental Indenture, dated NovemberCC1C)22, 2010, among HollyFrontier CorporationDDD%(as successorininterest to FrontierEE2E*Oil Corporation), the Guarantors and WellsFF6F.Fargo Bank, National Association (incorporatedGG/G'by reference to Exhibit 4.2 of FrontierHH0H(Oil Corporation's Current Report on FormII0I(8K filed November 22, 2010, File NumberJJJ 107627).KKKL333333@L,L$Second Supplemental Indenture, datedMM5MMay 26, 2011, among HollyFrontier CorporationNNN%(as successorininterest to FrontierOO2O*Oil Corporation), the Guarantors and WellsPP6P.Fargo Bank, National Association (incorporatedQQ/Q'by reference to Exhibit 4.2 of FrontierRR0R(Oil Corporation's Current Report on FormSS2S*8K filed May 27, 2011, File No. 107627).TTTU@U0U(Third Supplemental Indenture, dated JulyVV0V(1, 2011, among HollyFrontier CorporationWWW%(as successorininterest to FrontierXX2X*Oil Corporation), the Guarantors and WellsYY6Y.Fargo Bank, National Association (incorporatedZZ3Z+by reference to Exhibit 4.1 of Registrant's[[0[(Current Report on Form 8K filed July 8,\\ \2011, File No. 103876).]]]^@^,^$Fourth Supplemental Indenture, dated__._&September 6, 2013, among HollyFrontierDRlC_
v*:QlHar&`abcdefghijklmnopqrstuvwxyz{}~``8`0Corporation, as issuer (as successorininterestaa4a,to Frontier Oil Corporation), the Guarantorsbb2b*and Wells Fargo Bank, National Associationccc%(incorporated by reference to Exhibitdd/d'4.1 of Registrant?s Quarterly Report onee0e(Form 10Q for the quarterly period endedff.f&September 30, 2013, File No. 103876).ggghffffff@h9h1Form of 6 7/8% Senior Note Due 2018 (incorporatedii/i'by reference to Exhibit 4.3 of Frontierjj0j(Oil Corporation's Current Report on Formkk0k(8K filed November 22, 2010, file Numberlll 107627).mmmn@n.n&Indenture, dated March 12, 2012, amongoo1o)Holly Energy Partners, L.P., Holly Energypp.p&Finance Corp., the Guarantors and U.S.qq,q$Bank National Association, providingrr2r*for the issuance of 6.50% Senior Notes duess2s*2020 (incorporated by reference to Exhibittt4t,4.1 of Holly Energy Partners, L.P.'s Currentuu0u(Report on Form 8K filed March 12, 2012,vvvFile No. 132225).wwwx333333@x2x*First Supplemental Indenture, dated Augustyy1y)6, 2012, among HEP UNEV Holdings LLC, HEPzz1z)UNEV Pipeline LLC, Holly Energy Partners,{{3{+L.P., Holly Energy Finance Corp., the other5Guarantors and U.S. Bank National Association}}}%(incorporated by reference to Exhibit~~0~(4.2 of the Registrant's Quarterly Report3+on Form 10Q for the quarterly period endedDl\z.eU1Jfp3.&September 30, 2012, File No. 103876).$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/kdv=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??RWashington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERATIONS (1)!Principal Products and Customer
FacilitiesFacilities (1)Principal ProductsFacilities (2)Facilities (3)Principal Products (1)Facilities (4)Principal Products (2) PART II
PART II (1)
PART II (2)Financial DataOther Financial DataRefining Operating Data !Contractual Obligations and Com (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of produced prod!Reconciliation of average cost !Reconciliation of average refin!Reconciliation of net operating!52REPORT OF INDEPENDENT REGISTECONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)Level 3 Financial InstrumentsLevel 3 Financial Instrum (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)Accounting Hedges Economic HedgesEconomic Hedges (1)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)!Postretirement Healthcare Plans!Postretirement Healthcare P (1)Continued (21)Continued (22)Continued (23)! (2)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Continued (30)Continued (31)Continued (32)Continued (33)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSU }}$ }>
HollyFrontier Corp10K
02/24/2016INDEX TO EXHIBITS
Exhibit Number
Description$@3+First Amended and Restated Tankage, Loading
/
'Rack and Crude Oil Receiving Throughput,$Agreement (Cheyenne), dated November/'11, 2011, between Frontier Refining LLC0(and Cheyenne Logistics LLC (incorporated5by reference to Exhibit 10.26 of Registrant's1)Annual Report on Form 10K for its fiscal80year ended December 31, 2011, File No. 103876).Q$@6.Second Amended and Restated Pipeline Delivery,5Tankage and Loading Rack Throughput Agreement3+(El Dorado), dated January 7, 2014, between5Frontier El Dorado Refining LLC and El Dorado0(Logistics LLC (incorporated by reference/'to Exhibit 10.1 to Registrant's Current2*Report on Form 8K filed January 13, 2014,File No. 103876).
ףp=$@5Tenth Amended and Restated Omnibus Agreement,<4dated September 26, 2014, by and among HollyFrontierDn l{oc?>_mIQi !"#$%&'()*+,./0123456789:;<=>? 0 (Corporation, Holly Energy Partners, L.P.!!4!,and certain of their respective subsidiaries"""%(incorporated by reference to Exhibit##.#&10.2 of Registrant's Current Report on$$/$'Form 8K filed September 29, 2014, File%%%
No. 103876).&&&'(\$@''%Eleventh Amended and Restated Omnibus((/('Agreement, dated March 12, 2015, by and)).)&among HollyFrontier Corporation, Holly**2**Energy Partners, L.P. and certain of their+++%respective subsidiaries (incorporated,,4,,by reference to Exhibit 10.3 of Registrant's2*Current Report on Form 8K filed March 16,.. .2015, File No. 103876).///0Gz$@070/Twelfth Amended and Restated Omnibus Agreement,11:12dated October 16, 2015, by and among HollyFrontier2202(Corporation, Holly Energy Partners, L.P.3343,and certain of their respective subsidiaries444%(incorporated by reference to Exhibit55.5&10.4 of Registrant's Current Report on6616)Form 8K filed October 21, 2015, File No.777 103876).8889$@9/9'Thirteenth Amended and Restated Omnibus::0:(Agreement, dated as of November 2, 2015,;;/;'by and among HollyFrontier Corporation,<</<'Holly Energy Partners, L.P. and certain==6=.of their respective subsidiaries (incorporated>>4>,by reference to Exhibit 10.4 of Registrant's??1?)Current Report on Form 8K dated NovemberDfldU1Mf_ m$`
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