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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)!Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }}$
HollyFrontier Corp10K
02/21/2018
$
Expected Cash Spending Range
(In millions)
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }a/}$
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HollyFrontier Corp10K
02/21/2018/'Contractual Obligations and Commitments
Payments Due by Period/'Contractual Obligations and Commitments
TotalLess than 1 Year
13 Years
35 YearsOver 5 Years(In thousands)!
HollyFrontier Corporation
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and ComCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018'Commodity Price Risk Management
5
Notional Contract Volumes by Year of Maturity
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementInterest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }}$
HollyFrontier Corp10K
02/21/2018'Commodity Price Risk Management
2
*Estimated Change in Fair Value at December~
~,$Commoditybased Derivative Contracts~
~
(In thousands)%Hypothetical 10% change in underlying~
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#commodity prices$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,ymaUubF:=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }}$
HollyFrontier Corp10K
02/21/2018%Interest Rate Risk Management
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }8}$
HollyFrontier Corp10K
02/21/2018kcReconciliations of earnings before interest, taxes, depreciation and amortization ( EBITDA ) to amo
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018kcReconciliation of average refining segment net operating margin per produced barrel sold to refiner
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }:}$
HollyFrontier Corp10K
02/21/2018kcReconciliation of average refining segment operating expenses per produced barrel sold to total ope
Years Ended December 31,~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)CONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }$4}
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HollyFrontier Corp10K
02/21/2018OGDefinition and Limitations of Internal Control Over Financial Reporting
Page Reference/'Report of Independent Registered Public~
Accounting Firm/'Consolidated Balance Sheets at December~
31, 2017 and 2016%Consolidated Statements of Income for~
/'the years ended December 31, 2017, 2016and 20150(Consolidated Statements of Comprehensive~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of I!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }8}$
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HollyFrontier Corp10K
02/21/2018#CONSOLIDATED BALANCE SHEETS
December 31,~
~
ASSETS
Current assets:
.&Cash and cash equivalents (HEP: $7,776~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETSCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
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PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)Revenue Recognition Continued
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3) Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }0}$
HollyFrontier Corp10K
02/21/2018Revenue Recognition
(in millions)!Cash and cash equivalents5@%Accounts receivable and other current]@
assetsInventoriesj@( Properties, plants and equipment~
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued
!
Fair Value by Input LevelFinancial InstrumentCarrying AmountLevel 1
Level 2
Level 3(In thousands)
December 31, 2017
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued
!
Fair Value by Input LevelFinancial InstrumentCarrying AmountLevel 1
Level 2
Level 3(In thousands)
December 31, 2016
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }1}$
HollyFrontier Corp10K
02/21/2018
Years Ended December 31,%Level 3 Financial Instruments~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) !Restricted Stock and Restricted
Continued (2)
Continued (3)
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Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
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Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }8}$
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HollyFrontier Corp10K
02/21/2018
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)
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Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/20183+Restricted Stock and Restricted Stock Units

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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
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HollyFrontier Corp10K
02/21/2018 Continued
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Gross Unrealized Gain
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Fair Value
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }8}$
HollyFrontier Corp10K
02/21/2018 Continued
December 31,~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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02/21/2018 Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018HEP Senior Notes
December 31,~
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ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
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Continued (5)
Continued (6)HEP Senior Notes
Continued (7)
Continued (8)
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02/21/2018HEP Senior Notes
December 31,~
~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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02/21/2018 Continued !
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018
5
Notional Contract Volumes by Year of Maturity
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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02/21/2018 Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }}$ }y}$ }
HollyFrontier Corp10K
02/21/2018 Continued
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Total Outstanding Notional
Unit of Measure#NYMEX futures (WTI)  short~
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~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018%Interest Rate Risk Management
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~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued
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!Derivatives in Net Asset Position

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Gross Liabilities,$Gross Assets Offset in Balance Sheet%Net Liabilities Recognized in Balance
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December 31, 20163+Derivatives designated as cash flow hedginginstruments:&Commodity price swap contracts
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Continued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued
December 31, 2017AssetsLiabilities
Total(In thousands)
Deferred income taxes
%Properties, plants and equipment (due
$?~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued
December 31, 2016AssetsLiabilities
Total(In thousands)
Deferred income taxes
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ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
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02/21/2018 Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
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Continued (1) (1)!Restricted Stock and Restricted
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Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
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Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }2}
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HollyFrontier Corp10K
02/21/2018 Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }2}$
HollyFrontier Corp10K
02/21/2018 Continued
Years Ended December 31,~
~
(In thousands)/
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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HollyFrontier Corp10K
02/21/2018 Continued

%February 1, 2017 to December 31, 2017(In thousands),$Change in plans' benefit obligations8
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }}$ } }$
HollyFrontier Corp10K
02/21/2018 Continued
December 31, 2017
Discount rate333333@ %
%Rate of future compensation increases
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }7}$
HollyFrontier Corp10K
02/21/2018 Continued

%February 1, 2017 to December 31, 2017(In thousands)0(Service cost  benefit earned during the~
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }$4}$ } }$
HollyFrontier Corp10K
02/21/2018 Continued

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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)Continued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }2}$
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02/21/2018( Postretirement Healthcare Plans
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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02/21/2018 Continued
December 31, 2017
December 31, 2016HFCPCLIHFC
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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02/21/2018 Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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02/21/2018 Continued
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
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PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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Continued (6)HEP Senior NotesHEP Senior Note (1)
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FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
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PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)INDEX TO EXHIBITSOMNIBUS AGREEMENTOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
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FacilitiesFacilities (1)
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PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
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HollyFrontier Corp10K
02/21/2018INDEX TO EXHIBITS
Exhibit Number
Description10.44+80Third Amendment to the HollyFrontier Corporation

%LongTerm Incentive Compensation Plan%(incorporated by reference to Exhibit6.4.6 of the Registrant's Registration Statement0(on Form S8 filed November 9, 2012, FileNo. 333184877).10.45+%Fourth Amendment to the HollyFrontier4,Corporation LongTerm Incentive Compensation2*Plan (incorporated by reference to Exhibit.&10.2 of Registrant's Current Report on7/Form 8K filed May 15, 2015, File No. 103876).10.46+80Fifth Amendment to the HollyFrontier Corporation/'LongTerm Incentive Plan, effective May.&11, 2016 (incorporated by reference to3+Exhibit 10.1 of Registrant's Current Report:2on Form 8K filed May 16, 2016, File No. 103876).10.47++#HollyFrontier Corporation LongTermD7 l{oc?;T ]rN_ !"#$%&'()*+,./0123456789:;<=>?  %Incentive Plan UK SubPlan, effective!!4!,February 14, 2017 (incorporated by reference""/"'to Exhibit 10.43 of Registrant's Annual##5#Report on Form 10K for the fiscal year ended$$$%December 31, 2016, File No. 103876).%%%&10.48+&.&&Holly Corporation Amended and Restated''8'0Change in Control Agreement Policy (incorporated((4(,by reference to Exhibit 10.1 of Registrant's))1))Current Report on Form 8K filed March 1,** *2011, File No. 103876).+++,10.49+,1,)Holly Corporation Employee Form of Change%in Control Agreement (incorporated by..2.*reference to Exhibit 10.46 of Registrant's//1/)Annual Report on Form 10K for the fiscal00800year ended December 31, 2016, File No. 103876).111210.50+202(Form of Performance Share Unit Agreement3343,(for 162(m) covered employees) (incorporated44840by reference to Exhibit 4.11 of the Registrant's5505(Registration Statement on Form S8 filed66/6'November 9, 2012, File No. 333184877).777810.51+808(Form of Performance Share Unit Agreement99890(for non162(m) covered employees) (incorporated::8:0by reference to Exhibit 4.12 of the Registrant's;;0;(Registration Statement on Form S8 filed<</<'November 9, 2012, File No. 333184877).===>10.52+*>0>(Form of Performance Share Unit Agreement??'?(for 162(m) covered employees).Dnlg^jj!2l]c@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_@@@A10.53+*A0A(Form of Performance Share Unit AgreementBB+B#(for non162(m) covered employees).CCCD10.54+D6D.Form of Restricted Stock Agreement (timebasedEE.E&vesting) (incorporated by reference toFF3F+Exhibit 10.49 of Registrant's Annual ReportGG7G/on Form 10K for the fiscal year ended DecemberHH$H31, 2016, File No. 103876).IIIJ10.55+J3J+Form of Notice of Grant of Restricted StockKKK%(incorporated by reference to ExhibitLL.L&10.50 of Registrant's Annual Report onMM4M,Form 10K for the fiscal year ended DecemberNN$N31, 2016, File No. 103876).OOOP10.56+P/P'Form of Restricted Stock Unit AgreementQQ2Q*(for nonemployee directors) (incorporatedRR5Rby reference to Exhibit 10.63 of Registrant'sSS1S)Annual Report on Form 10K for its fiscalTT8T0year ended December 31, 2012, File No. 103876).UUUV10.57+V3V+Form of Notice of Grant of Restricted StockWW8W0Units (for nonemployee directors) (incorporatedXX5Xby reference to Exhibit 10.64 of Registrant'sYY1Y)Annual Report on Form 10K for its fiscalZZ8Z0year ended December 31, 2012, File No. 103876).[[[\10.58+*\/\'Form of Restricted Stock Unit Agreement]]](for employees).^^^_10.59+*_3_+Form of Notice of Grant of Restricted StockDlBv!>;I%+f`abcdefghijklmnopqrstuvwxyz{}~```Units (for employees).aaab10.60+b1b)Form of Indemnification Agreement enteredcc1c)into with directors and officers of Hollydd.d&Corporation (incorporated by referenceee/e'to Exhibit 10.1 of Registrant's Currentff3f+Report on Form 8K filed December 13, 2006,gggFile No. 103876).hhhi10.61+i3i+HollyFrontier Corporation Omnibus Incentivejj0j(Compensation Plan (formerly the Frontierkk6k.Oil Corporation Omnibus Incentive Compensationll3l+Plan) (incorporated by reference to Exhibitmm.m&10.5 of Registrant's Current Report onnn7n/Form 8K filed July 8, 2011, File No. 103876).ooop10.62+p8p0First Amendment to the HollyFrontier Corporationqq9q1Omnibus Incentive Compensation Plan (incorporatedrr4r,by reference to Exhibit 10.1 of Registrant'sss0s(Current Report on Form 8K filed May 15,tt t2015, File No. 103876).uuuv10.63+vv%Second Amendment to the HollyFrontierww2w*Corporation Omnibus Incentive Compensationxx2x*Plan, dated November 9, 2016 (incorporatedyy5yby reference to Exhibit 10.56 of Registrant'szz1z)Annual Report on Form 10K for its fiscal{{8{0year ended December 31, 2016, File No. 103876).}10.64+}+}#HollyFrontier Corporation Executive~~/~'Nonqualified Deferred Compensation Plan4,(formerly the Frontier Deferred CompensationDSlOmo#8gv:y+93+Plan) (incorporated by reference to Exhibit.&10.73 of Registrant's Annual Report on4,Form 10K for its fiscal year ended December$31, 2012, File No. 103876).$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/g=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (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)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOmnibus Agreement AmendmentsPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }$ }@
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HollyFrontier Corp10K
02/21/2018OMNIBUS AGREEMENT 
%HollyFrontier Corporation, a Delaware2*corporation (? HFC ?), and its Affiliates1)listed below (singularly, ? HFC Entity ?;9
1and with HFC collectively, the ? HFC Entities ?):5El Paso Operating LLC (? El Paso Operating ?)=5HollyFrontier El Dorado Refining LLC (? HollyFrontierEl Dorado ?)<4HollyFrontier Cheyenne Refining LLC (? HollyFrontierCheyenne ?)91HollyFrontier Tulsa Refining LLC (? HollyFrontierTulsa ?).&HollyFrontier Woods Cross Refining LLC'(? HollyFrontier Woods Cross ?)5Navajo Pipeline Co., L.P., a Delaware limited)!partnership (? Navajo Pipeline ?):2HollyFrontier Navajo Refining LLC (? HollyFrontier Navajo ?).&HollyFrontier Refining & Marketing LLC
(? HFRM ?)91HollyFrontier Transportation LLC (? HollyFrontierTransportation ?)ANDDl{ocKrpMo*H& !"#$%&'()*+,./0123456789:;<=>?/ 'Holly Energy Partners, L.P., a Delaware:!2limited partnership (? HEP ?), and its Affiliates1")listed below (singularly, ? HEP Entity ?;9#1and with HEP collectively, the ? HEP Entities ?):$7$/Cheyenne Logistics LLC (? Cheyenne Logistics ?)%9%1El Dorado Logistics LLC (? El Dorado Logistics ?)&9&1El Dorado Operating LLC (? El Dorado Operating ?)'1')El Dorado Osage LLC (? El Dorado Osage ?)((Frontier Aspen LLC))%HEP El Dorado LLC (? HEP El Dorado ?)*1*)HEP Logistics GP, L.L.C. (the ? OLP GP ?)+0+(HEP Logistics Holdings, L.P., a Delaware,5,limited partnership (the ? General Partner ?)!HEP Mountain Home, L.L.C..5.HEP Navajo Southern, L.P., a Delaware limited//partnership010)HEP Pipeline Assets, Limited Partnership,1&1a Delaware limited partnership22HEP Pipeline GP, L.L.C.3/3'HEP Pipeline, L.L.C. (? HEP Pipeline ?)454HEP Refining Assets, L.P., a Delaware limited55%partnership (? HEP Refining Assets ?)66HEP Refining GP, L.L.C.7/7'HEP Refining, L.L.C. (? HEP Refining ?)8%8HEP Tulsa LLC (? HEP Tulsa ?)9,9$HEP UNEV Holdings LLC (? HEP UNEV ?):5:HEP UNEV Pipeline LLC (? HEP UNEV Pipeline ?);;HEP Woods Cross, L.L.C.<0<(Holly Energy Partners ? Operating, L.P.,=7=/a Delaware limited partnership (the ? Operating>>Partnership ?)?,?$Holly Energy Storage ? Lovington LLCD lZD[`=Xh3C@ABCDEFGHIJKL@0@(Holly Logistic Services, L.L.C. (? HollyAAGP ?),B!BLovingtonArtesia, L.L.C.CC NWNAL LLCD4D,Roadrunner Pipeline, L.L.C. (? Roadrunner ?)EESLC Pipeline LLCF0F(Woods Cross Operating LLC (? Woods CrossGGOperating ?)HI$J____________________________1K)Created by Morningstar Document Research.0L(http://documentresearch.morningstar.com/qPth@=PF0*8X>
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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??^Washington DC 20549TABLE OF CONTENTSREFINERY OPERATIONSREFINERY OPERAT (1)Products and Customers
FacilitiesFacilities (1)
ProductsFacilities (2)Facilities (3)Products (1)Facilities (4)Facilities (5)Products (2)!LUBRICANTS AND SPECIALTY PRODUC PART II
PART II (1)
PART II (2)Financial DataOther Financial Data!Refining Segment Operating DataLubricants and Specialty (1)Lubricants and Specialty (2)! !Contractual Obligations and Com!Commodity Price Risk ManagementCommodity Price Risk (1)Interest Rate Risk Management!Reconciliations of earnings bef!Reconciliation of average refin Reconciliation of average (1)!Definition and Limitations of ICONSOLIDATED BALANCE SHEETS!CONSOLIDATED STATEMENTS OF INCOCONSOLIDATED STATEMENTS (1)CONSOLIDATED STATEMENTS (2)CONSOLIDATED STATEMENTS (3)Revenue Recognition Continued
Continued (1) (1)!Restricted Stock and Restricted
Continued (2)
Continued (3)
Continued (4)
Continued (5)
Continued (6)HEP Senior NotesHEP Senior Note (1)
Continued (7)
Continued (8)
Continued (9)Continued (10)Interest Rate Risk (1)Continued (11)Continued (12)Provisional AmountsContinued (13)Continued (14)Continued (15)Continued (16)Continued (17)Continued (18)Continued (19)Continued (20)Continued (21)Continued (22)Continued (23)Continued (24)!Postretirement Healthcare PlansContinued (25)Continued (26)Continued (27)Continued (28) (1) (2)Continued (29)Continued (30)Continued (31)!Item 15 Exhibits Financial StatINDEX TO EXHIBITSOMNIBUS AGREEMENTPart 1 Transferred AssetsPart 1 Transferred (1)Part 1 Transferred (2)Part 2 Other AssetsPart 2 Other As (1)
Defined TermsDefined Terms (1)Defined Terms (2)Defined Terms (3)!NOTICE OF GRANT OF RESTRICTED SU }7}a}7
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HollyFrontier Corp10K
02/21/2018$Omnibus Agreement Amendments
Agreement
Effective Date
Reason for Amendment"Original Omnibus Agreement
July 13, 2004n/a4,First Amended and Restated Omnibus AgreementJune 1, 20093+16? Lovington/Artesia Intermediate Pipeline
Purchase Agreement5Second Amended and Restated Omnibus AgreementAugust 1, 20094,Tulsa West (Sunoco) Asset Purchase Agreement4,Third Amended and Restated Omnibus AgreementOctober 19, 20094,(i) Tulsa East (Sinclair) Purchase Agreement0((ii) Beeson Pipeline Purchase Agreement,and4,(iii) Roadrunner Pipeline Purchase Agreement5Fourth Amended and Restated Omnibus AgreementMarch 31, 20103+LLC Interest Purchase Agreement for certainTulsa East Assets4,Fifth Amended and Restated Omnibus AgreementAugust 31, 2011"Tulsa Throughput Agreement4,Sixth Amended and Restated Omnibus AgreementNovember 1, 20114,LLC Interest Purchase Agreement for Cheyenne#Assets and El Dorado Assets6.Seventh Amended and Restated Omnibus Agreement
July 12, 2012,$UNEV LLC Interest Purchase Agreement5Eighth Amended and Restated Omnibus AgreementJune 1, 2013#Malaga Throughput Agreement4,Ninth Amended and Restated Omnibus AgreementJanuary 7, 20141)Amended and Restated El Dorado Throughput0(Agreement for the El Dorado New Tank No.~
4,Tenth Amended and Restated Omnibus AgreementSeptember 26, 2014.&Amended and Restated Malaga Throughput Agreement%Eleventh Amended and Restated OmnibusJanuary 1, 20151)Unloading and Blending Services AgreementDlpdX4OwPvA