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HollyFrontier Corp10K
02/20/2020!HOLLYFRONTIER CORPORATION
Delaware
7510569135(State or other jurisdiction of incorporation,$(I.R.S. Employer Identification No.)or organization)#
2828 N. Harwood, Suite 1300
Dallas
Texas~
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HollyFrontier Corp10K
02/20/2020TABLE OF CONTENTS
Item
PagePART I
"ForwardLooking Statements~
Definitions~
( 1 and 2. Business and Properties~
1A. Risk Factors~
V%1B. Unresolved Staff Comments~
3. Legal Proceedings~
"4. Mine Safety Disclosures~
PART II1)5. Market for Registrant's Common Equity,~
.&Related Stockholder Matters and Issuer&Purchases of Equity Securities"6. Selected Financial Data~
/'7. Management's Discussion and Analysis~
80of Financial Condition and Results of OperationsDl{ocK+lTW? i5 !"#$%&'()*+,./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~
;<<=Index to Exhibits~
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Signatures~
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02/20/2020
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HollyFrontier Corp10K
02/20/2020
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HollyFrontier Corp10K
02/20/2020
Facilities
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HollyFrontier Corp10K
02/20/2020Products
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02/20/2020
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02/20/2020
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HollyFrontier Corp10K
02/20/2020Products
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02/20/20204,LUBRICANTS AND SPECIALTY PRODUCTS OPERATIONS
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HollyFrontier Corp10K
02/20/2020PART II
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02/20/2020PART II
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FacilitiesFacilities (1)
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HollyFrontier Corp10K
02/20/20207/CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Years Ended December 31,~
~
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HollyFrontier Corp10K
02/20/2020%CONSOLIDATED STATEMENTS OF CASH FLOWS
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~
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~
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FacilitiesFacilities (1)
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PART II (1)Financial DataOther Financial Data!Refining Segment Operating Data!Lubricants and Specialty Pr (1)!Lubricants and Specialty Pr (2)HEP!Contractual Obligations and Com!Foreign Currency Risk Managemen!Foreign Currency Risk Manag (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin!Reconciliation of average r (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH Continued
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HollyFrontier Corp10K
02/20/2020)!CONSOLIDATED STATEMENTS OF EQUITY
*
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FacilitiesFacilities (1)
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PART II (1)Financial DataOther Financial Data!Refining Segment Operating Data!Lubricants and Specialty Pr (1)!Lubricants and Specialty Pr (2)HEP!Contractual Obligations and Com!Foreign Currency Risk Managemen!Foreign Currency Risk Manag (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin!Reconciliation of average r (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI
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HollyFrontier Corp10K
02/20/2020 Continued
(In millions)!Cash and cash equivalents33333sC@%Accounts receivable and other current333333M@
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HollyFrontier Corp10K
02/20/2020 Continued
Years Ended December 31,~
~
(In thousands)
Sales and other revenues
~
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$( 116,254 )~
$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,wkQl`T,=PF0*8X>
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FacilitiesFacilities (1)
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HollyFrontier Corp10K
02/20/2020PCLI
December 31, 2019(In thousands)Operating leases:+
#Operating lease rightofuse assets
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~_.&Noncurrent operating lease liabilities~
>)!Total operating lease liabilities~
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FacilitiesFacilities (1)
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PART II (1)Financial DataOther Financial Data!Refining Segment Operating Data!Lubricants and Specialty Pr (1)!Lubricants and Specialty Pr (2)HEP!Contractual Obligations and Com!Foreign Currency Risk Managemen!Foreign Currency Risk Manag (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin!Reconciliation of average r (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)PCLI
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
IntangiblesContinued (19)Continued (20)Continued (21)Accounting HedgesContinued (22)Continued (23)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Foreign Tax EffectsContinued (30)Continued (31)Continued (32)Continued (33)Continued (34)Continued (35)Continued (36)Continued (37)Continued (38)Continued (39)Continued (40)Contractual CommitmentsContinued (41)Continued (42)Continued (43)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSROCE Performance PercentageTSR Performance PercentagePlanAgreementRSUsU }}$ }U}$
HollyFrontier Corp10K
02/20/2020 Continued
December 31, 2019%Weighted average remaining lease term
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PART II (1)Financial DataOther Financial Data!Refining Segment Operating Data!Lubricants and Specialty Pr (1)!Lubricants and Specialty Pr (2)HEP!Contractual Obligations and Com!Foreign Currency Risk Managemen!Foreign Currency Risk Manag (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin!Reconciliation of average r (1)!Definition and Limitations of ICONSOLIDATED 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
02/20/2020 Continued
Year EndedDecember 31, 2019(In thousands)
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FacilitiesFacilities (1)
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PART II (1)Financial DataOther Financial Data!Refining Segment Operating Data!Lubricants and Specialty Pr (1)!Lubricants and Specialty Pr (2)HEP!Contractual Obligations and Com!Foreign Currency Risk Managemen!Foreign Currency Risk Manag (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin!Reconciliation of average r (1)!Definition and Limitations of ICONSOLIDATED 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
02/20/2020 Continued
Year EndedDecember 31, 2019(In thousands)9
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HollyFrontier Corp10K
02/20/2020 Continued
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FacilitiesFacilities (1)
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HollyFrontier Corp10K
02/20/2020 Continued
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02/20/2020 Continued
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HollyFrontier Corp10K
02/20/2020 Continued
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HollyFrontier Corp10K
02/20/2020 Continued
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HollyFrontier Corp10K
02/20/2020 Continued
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HollyFrontier Corp10K
02/20/2020 Continued
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HollyFrontier Corp10K
02/20/2020 Continued
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HollyFrontier Corp10K
02/20/2020 Continued
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December 31, 2019
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HollyFrontier Corp10K
02/20/2020 Continued
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HollyFrontier Corp10K
02/20/2020 Continued
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Continued (6)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
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HollyFrontier Corp10K
02/20/2020 Continued !
Years Ending December 31,
(In thousands)~
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Continued (1)PCLI
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
IntangiblesContinued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Foreign Tax EffectsContinued (30)Continued (31)Continued (32)Continued (33)Continued (34)Continued (35)Continued (36)Continued (37)Continued (38)Continued (39)Continued (40)Contractual CommitmentsContinued (41)Continued (42)Continued (43)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSROCE Performance PercentageTSR Performance PercentagePlanAgreementRSUsU }$4}$ }$}$ }$}
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HollyFrontier Corp10K
02/20/2020Accounting Hedges

%Net Unrealized Gain (Loss) Recognized
.
&Gain (Loss) Reclassified into Earningsin OCI3+Derivatives Designated as Cash Flow Hedging Years Ended December 31,
!Income Statement Location Years Ended December 31,
Instruments
~
~
~
~
~
~
(In thousands)Commodity contracts$( 5,349 )~
V ~
*
Sales and other revenues$( 1,799 )$( 5,093 )~
rz
Cost of products sold~
re 
( 299 )
Operating expenses( 1,364 )
( 962 )( 19,244 )#Interest rate contracts (1)  
( 91 )
Interest expense  ~
Total$( 5,349 )~
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Continued (1)PCLI
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
IntangiblesContinued (19)Continued (20)Continued (21)Accounting HedgesContinued (23)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Foreign Tax EffectsContinued (30)Continued (31)Continued (32)Continued (33)Continued (34)Continued (35)Continued (36)Continued (37)Continued (38)Continued (39)Continued (40)Contractual CommitmentsContinued (41)Continued (42)Continued (43)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSROCE Performance PercentageTSR Performance PercentagePlanAgreementRSUsU }}$ }a/}$ }$} $ }
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HollyFrontier Corp10K
02/20/2020 Continued
*
"Gain (Loss) Recognized in Earnings%Derivatives Not Designated as Hedging Years Ended December 31,Instruments!Income Statement Location~
~
~
(In thousands)Commodity contractsCost of products sold$( 8,475 )~
>
$( 12,327 )Operating expenses  
( 6,697 )Interest expense( 6,427 )
( 198
) "Foreign currency contracts%Gain on foreign currency transactions( 17,430 )~
/'Gain on foreign currency swap contracts  
~
~
Total $( 32,332 )~
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HollyFrontier Corp10K
02/20/2020 Continued
5
Notional Contract Volumes by Year of Maturity
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HollyFrontier Corp10K
02/20/2020 Continued
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!Derivatives in Net Asset Position

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&Net Assets Recognized in Balance Sheet
Gross Liabilities,$Gross Assets Offset in Balance Sheet%Net Liabilities Recognized in Balance
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(In thousands)
December 31, 2019
3+Derivatives designated as cash flow hedginginstruments:&Commodity price swap contracts~
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HollyFrontier Corp10K
02/20/2020 Continued
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!Derivatives in Net Asset Position

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&Net Assets Recognized in Balance Sheet
Gross Liabilities,$Gross Assets Offset in Balance Sheet%Net Liabilities Recognized in Balance
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(In thousands)
December 31, 20183+Derivatives designated as cash flow hedginginstruments:&Commodity price swap contracts~
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~
n$( 799 )~
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Continued (3)
Continued (4)
Continued (5)
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Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
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HollyFrontier Corp10K
02/20/2020 Continued
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~
~
(In thousands)
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~
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FacilitiesFacilities (1)
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Continued (4)
Continued (5)
Continued (6)
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Continued (8)
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HollyFrontier Corp10K
02/20/2020 Continued
Years Ended December 31,~
~
~
(In thousands)&
Tax computed at statutory rate
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~
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( 307,101 )6.State income taxes, net of federal tax benefit~
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FacilitiesFacilities (1)
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Continued (1)PCLI
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
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HollyFrontier Corp10K
02/20/2020 Continued
December 31, 2019AssetsLiabilities
Total(In thousands)
Deferred income taxes
%Properties, plants and equipment (due
$
$( 809,966 )
$( 809,966 )80primarily to tax in excess of book depreciation)Lease obligation~
Y  ~
Y!Accrued employee benefits~
 ~
( Accrued postretirement benefits~
N  ~
N#Accrued environmental costs~
 ~
Hedging instruments ( 2,439 )
( 2,439 )Inventory differences ( 43,500 )
( 43,500 )!Deferred turnaround costs  ( 135,920 )
( 135,920 )7/Net operating loss and tax credit carryforwards~
f  ~
fInvestment in HEP ( 95,037 )
( 95,037 )Valuation allowance ( 4,600 )
( 4,600 )
Other~
U  ~
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Continued (1)PCLI
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
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HollyFrontier Corp10K
02/20/2020 Continued
December 31, 2018AssetsLiabilities
Total(In thousands)
Deferred income taxes
%Properties, plants and equipment (due
$
$( 577,133 )
$( 577,133 )80primarily to tax in excess of book depreciation)!Accrued employee benefits~
 ~
( Accrued postretirement benefits~
 ~
#Accrued environmental costs~
 ~
Hedging instruments ( 4,099 )
( 4,099 )Inventory differences ( 22,518 )
( 22,518 )!Deferred turnaround costs ( 87,360 )
( 87,360 )7/Net operating loss and tax credit carryforwards~
 ~
Investment in HEP ( 94,587 )
( 94,587 )Valuation allowance ( 3,100 )
( 3,100 )
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( 1,295 )
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02/20/2020 Continued
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HollyFrontier Corp10K
02/20/2020 Continued
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02/20/2020 Continued
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02/20/2020 Continued
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HollyFrontier Corp10K
02/20/2020 Continued
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02/20/2020 Continued

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HollyFrontier Corp10K
02/20/2020 Continued
Years Ended December 31,~
~
(In thousands)+
#Change in plans' benefit obligation
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 beginning of yearSonneborn acquisition~
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Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
IntangiblesContinued (19)Continued (20)Continued (21)Accounting HedgesContinued (22)Continued (23)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Foreign Tax EffectsContinued (30)Continued (31)Continued (32)Continued (33)Continued (34)Continued (35)Continued (36)Continued (37)Continued (38)Continued (39)Continued (40)Contractual CommitmentsContinued (41)Continued (42)Continued (43)!Item 15 Exhibits Financial StatROCE Performance PercentageTSR Performance PercentagePlanAgreementRSUsU }}$ }6Corporation, as borrower, The Bank of TokyoMitsubishi/'UFJ, Ltd., as administrative agent, and/'the lenders party thereto (incorporated4,by reference to Exhibit 10.1 of Registrant's1)Current Report on Form 8K filed February$21, 2017, File No. 103876).(\B$@.&Release of Subsidiary Guarantee, dated5December 29, 2015, by and among HollyFrontier6.Corporation and Union Bank, N.A. (incorporated5by reference to Exhibit 10.40 of Registrant's1)Annual Report on Form 10K for the fiscal80year ended December 31, 2015, File No. 103876).HzG$@.&Amended and Restated Limited Liability.&Company Agreement of HEP UNEV Holdings0(LLC, dated July 12, 2012, among HEP UNEVDk l{oc??Ph(cs !"#$%&'()*+,./0123 , $Holdings LLC, HollyFrontier Holdings!!9!1LLC and Holly Energy Partners, L.P. (incorporated""8"0by reference to Exhibit 10.5 to the Registrant's##7#/Quarterly Report on Form 10Q for the quarterly$$6$.period ended June 30, 2012, File No. 103876).%%%&L$@&3&+Amended and Restated Unloading and Blending'''%Services Agreement, dated January 18,((.(&2017, effective September 16, 2016, by))6).and between HollyFrontier Refining & Marketing**/*'LLC, Holly Energy Partners  Operating,++2+*L.P. and HEP Refining L.L.C. (incorporated,,5,by reference to Exhibit 10.26 of Registrant's1)Annual Report on Form 10K for the fiscal..8.0year ended December 31, 2016, File No. 103876)./0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/,cjF^s"uiA=PF0*8X>
@332211
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??\HOLLYFRONTIER CORPORATION!Registrant s telephone number iTABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERATIONS (1)Products and Customers
FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)Financial DataOther Financial Data!Refining Segment Operating Data!Lubricants and Specialty Pr (1)!Lubricants and Specialty Pr (2)HEP!Contractual Obligations and Com!Foreign Currency Risk Managemen!Foreign Currency Risk Manag (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin!Reconciliation of average r (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)PCLI
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
IntangiblesContinued (19)Continued (20)Continued (21)Accounting HedgesContinued (22)Continued (23)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Foreign Tax EffectsContinued (30)Continued (31)Continued (32)Continued (33)Continued (34)Continued (35)Continued (36)Continued (37)Continued (38)Continued (39)Continued (40)Contractual CommitmentsContinued (41)Continued (42)Continued (43)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSTSR Performance PercentagePlanAgreementRSUsU }y<}<(
HollyFrontier Corp10K
02/20/2020#ROCE Performance Percentage 0
(Ranking of the Company within Peer Group#
ROCE Performance Percentage&90 th Percentile or Better Maximum (200% of Target):2th Percentile But Better than 50 th Percentile)!Interpolate between 100% and 200%
50 th Percentile
Target (100%):2th Percentile But Better than 25 th Percentile( Interpolate between 25% and 100%25 th Percentile25% of Target (Minimum)
th PercentileZero$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0C}qeYAG=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??\HOLLYFRONTIER CORPORATION!Registrant s telephone number iTABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERATIONS (1)Products and Customers
FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)Financial DataOther Financial Data!Refining Segment Operating Data!Lubricants and Specialty Pr (1)!Lubricants and Specialty Pr (2)HEP!Contractual Obligations and Com!Foreign Currency Risk Managemen!Foreign Currency Risk Manag (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin!Reconciliation of average r (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)PCLI
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
IntangiblesContinued (19)Continued (20)Continued (21)Accounting HedgesContinued (22)Continued (23)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Foreign Tax EffectsContinued (30)Continued (31)Continued (32)Continued (33)Continued (34)Continued (35)Continued (36)Continued (37)Continued (38)Continued (39)Continued (40)Contractual CommitmentsContinued (41)Continued (42)Continued (43)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSROCE Performance PercentagePlanAgreementRSUsU }y<}<(
HollyFrontier Corp10K
02/20/2020"TSR Performance Percentage 0
(Ranking of the Company within Peer Group"
TSR Performance Percentage&90 th Percentile or Better Maximum (200% of Target):2th Percentile But Better than 50 th Percentile)!Interpolate between 100% and 200%
50 th Percentile
Target (100%):2th Percentile But Better than 25 th Percentile( Interpolate between 25% and 100%25 th Percentile25% of Target (Minimum)
th PercentileZero$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0A~rfZB/I =PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??\HOLLYFRONTIER CORPORATION!Registrant s telephone number iTABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERATIONS (1)Products and Customers
FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)Financial DataOther Financial Data!Refining Segment Operating Data!Lubricants and Specialty Pr (1)!Lubricants and Specialty Pr (2)HEP!Contractual Obligations and Com!Foreign Currency Risk Managemen!Foreign Currency Risk Manag (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin!Reconciliation of average r (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCO!CONSOLIDATED STATEMENTS OF COMP!CONSOLIDATED STATEMENTS OF CASH!CONSOLIDATED STATEMENTS OF EQUI Continued
Continued (1)PCLI
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Performance Share UnitsContinued (17)Continued (18)Goodwill and longlived assets
IntangiblesContinued (19)Continued (20)Continued (21)Accounting HedgesContinued (22)Continued (23)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28)Continued (29)Foreign Tax EffectsContinued (30)Continued (31)Continued (32)Continued (33)Continued (34)Continued (35)Continued (36)Continued (37)Continued (38)Continued (39)Continued (40)Contractual CommitmentsContinued (41)Continued (42)Continued (43)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSROCE Performance PercentageTSR Performance PercentageU }0}$4
HollyFrontier Corp10K
02/20/2020PlanAgreementRSUs 0
(On Each of the Following Regular Vesting3
+Cumulative Portion of RSUs that will become
DatesVestedDecember 1, 2020 Onethird
December 1, 2021
OnethirdDecember 1, 2022 Onethird$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,{ocK[*=PF0*8X>
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