a material adverse effect on our liquidity , as we would be required to finance our crude oil , intermediate and refined products inventory covered by the agreements . additionally , we are obligated to repurchase from j. aron certain j. aron products located at our j. aron storage tanks upon termination of these agreements ; restrictive covenants in our indebtedness that may adversely affect our operational flexibility ; payments by pbf energy to the current and former holders of pbf llc series a units and pbf llc series b units under pbf energy 's tax receivable agreement for certain tax benefits we may claim ; our assumptions regarding payments arising under pbf energy 's tax receivable agreement and other arrangements relating to our organizational structure are subject to change due to various factors , including , among other factors , the timing of exchanges of pbf llc series a units for shares of pbf energy class a common stock as contemplated by the tax receivable agreement , the price of pbf energy class a common stock at the time of such exchanges , the extent to which such exchanges are taxable , and the amount and timing of our income ; our expectations and timing with respect to our acquisition activity and whether such acquisitions are accretive or dilutive to shareholders ; the impact of disruptions to crude or feedstock supply to any of our refineries , including disruptions due to problems at pbfx or with third-party logistics infrastructure or operations , including pipeline , marine and rail transportation ; the possibility that we might not make further dividend payments ; the inability of our subsidiaries to freely pay dividends or make distributions to us ; the impact of current and future laws , rulings and governmental regulations , including the implementation of rules and regulations regarding transportation of crude oil by rail ; the threat of cyber-attacks ; our increased dependence on technology ; the effectiveness of our crude oil sourcing strategies , including our crude by rail strategy and related commitments ; adverse impacts related to legislation by the federal government lifting the restrictions on exporting u.s. crude oil ; adverse impacts from changes in our regulatory environment , such as the effects of compliance with ab32 , or from actions taken by environmental interest groups ; market risks related to the volatility in the price of rins required to comply with the renewable fuel standard and ghg emission credits required to comply with various ghg emission programs , such as ab32 ; our ability to complete the successful integration of the martinez refinery and any other acquisitions into our business and to realize the benefits from such acquisitions ; unforeseen liabilities associated with the martinez acquisition and any other acquisitions ; risk associated with the operation of pbfx as a separate , publicly-traded entity ; potential tax consequences related to our investment in pbfx ; and any decisions we continue to make with respect to our energy-related logistics assets that may be transferred to pbfx . 67 we caution you that the foregoing list of important factors may not contain all of the material factors that are important to you . in addition , in light of these risks and uncertainties , the matters referred to in the forward-looking statements contained in this annual report on form 10-k may not in fact occur . accordingly , investors should not place undue reliance on those statements . our forward-looking statements speak only as of the date of this annual report on form 10-k. except as required by applicable law , including the securities laws of the united states , we do not intend to update or revise any forward-looking statements . all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing . executive summary our business operations are conducted by pbf llc and its subsidiaries . we were formed in march 2008 to pursue the acquisitions of crude oil refineries and downstream assets in north america . we own and operate six domestic oil refineries and related assets located in delaware city , delaware , paulsboro , new jersey , toledo , ohio , chalmette , louisiana , torrance , california , and martinez , california . based on current configuration ( subsequent to the east coast refining reconfiguration ) , our refineries have a combined processing capacity , known as throughput , of approximately 1,000,000 bpd , and a weighted-average nelson complexity index of 13.2 based on current operating conditions . the complexity and throughput capacity of our refineries are subject to change dependent upon configuration changes we make to respond to market conditions as well as a result of investments made to improve our facilities and maintain compliance with environmental and governmental regulations . we operate in two reportable business segments : refining and logistics . our six oil refineries are all engaged in the refining of crude oil and other feedstocks into petroleum products , and are aggregated into the refining segment . pbfx operates certain logistical assets such as crude oil and refined petroleum products terminals , pipelines , and storage facilities , which are aggregated into the logistics segment . factors affecting comparability our results over the past three years have been affected by the following events , the understanding of which will aid in assessing the comparability of our period to period financial performance and financial condition . covid-19 and market developments the impact of the unprecedented global health and economic crisis sparked by the covid-19 pandemic was amplified late in the quarter ended march 31 , 2020 due to movements made by the world 's largest oil producers to increase market share . this created simultaneous shocks in oil supply and demand resulting in an economic challenge to our industry which has not occurred since our formation . story_separator_special_tag effective with completion of the initial public offering , pbf energy consolidates the financial results of pbf llc and its subsidiaries and records a noncontrolling interest in its consolidated financial statements representing the economic interests of pbf llc unitholders other than pbf energy . additionally , a series of secondary offerings were made subsequent to our ipo whereby funds affiliated with the blackstone group l.p. ( “ blackstone ” ) and first reserve management l.p. ( “ first reserve ” ) sold their interests in us . as a result of these secondary offerings , blackstone and first reserve no longer hold any pbf llc series a units . on august 14 , 2018 , pbf energy completed a public offering of an aggregate of 6,000,000 shares of pbf energy class a common stock for net proceeds of $ 287.3 million , after deducting underwriting discounts and commissions and other offering expenses ( the “ august 2018 equity offering ” ) . as of december 31 , 2020 , including the offerings described above , pbf energy owns 120,122,872 pbf llc series c units and our current and former executive officers and directors and certain employees and others beneficially own 970,647 pbf llc series a units . the holders of our issued and outstanding shares of pbf energy class a common stock have 99.2 % of the voting power in us and the members of pbf llc , other than pbf energy through their holdings of class b common stock , have the remaining 0.8 % of the voting power in us . pbfx equity offerings on april 24 , 2019 , pbfx entered into subscription agreements to sell an aggregate of 6,585,500 common units to certain institutional investors in a registered direct offering ( the “ 2019 registered direct offering ” ) for gross proceeds of approximately $ 135.0 million . the 2019 registered direct offering closed on april 29 , 2019. on july 30 , 2018 , pbfx closed on a common unit purchase agreement with certain funds managed by tortoise capital advisors , l.l.c . providing for the issuance and sale in a registered direct offering of an aggregate of 1,775,750 common units for net proceeds of approximately $ 34.9 million . as of december 31 , 2020 , pbf llc held a 48.0 % limited partner interest in pbfx with the remaining 52.0 % limited partner interest owned by public common unitholders . pbfx assets and transactions pbfx 's assets consist of various logistics assets ( as described in “ item 1. business ” ) . apart from business associated with certain third-party acquisitions , pbfx 's revenues are derived from long-term , fee-based commercial agreements with subsidiaries of pbf holding , which include minimum volume commitments , for receiving , handling , transferring and storing crude oil , refined products and natural gas . these transactions are eliminated by pbf energy and pbf llc in consolidation . since the inception of pbfx in 2014 , pbf llc and pbfx have entered into a series of drop-down transactions . such transactions and third-party acquisitions made by pbfx occurring in the three years ended december 31 , 2020 are discussed below . 73 tvpc acquisition on april 24 , 2019 , pbfx entered into the tvpc contribution agreement , pursuant to which pbf llc contributed to pbfx all of the issued and outstanding limited liability company interests of tvp holding for total consideration of $ 200.0 million . prior to the tvpc acquisition , tvp holding owned a 50 % membership interest in tvpc . subsequent to the closing of the tvpc acquisition on may 31 , 2019 , pbfx owns 100 % of the membership interests in tvpc . the transaction was financed through a combination of proceeds from the 2019 registered direct offering and borrowings under the pbfx revolving credit facility . pbfx idr restructuring on february 28 , 2019 , pbfx closed on the idr restructuring agreement with pbf llc and pbf gp , pursuant to which pbfx 's idrs held by pbf llc were canceled and converted into 10,000,000 newly issued pbfx common units . subsequent to the closing of the idr restructuring , no distributions were made to pbf llc with respect to the idrs and the newly issued pbfx common units are entitled to normal distributions by pbfx . east coast storage assets acquisition on october 1 , 2018 , pbfx closed on its agreement with crown point to purchase its wholly-owned subsidiary , cpi operations llc ( the “ east coast storage assets acquisition ” ) for total consideration of approximately $ 127.0 million , including working capital and the contingent consideration ( as defined in “ note 4 - acquisitions ” of our notes to consolidated financial statements ) , comprised of an initial payment at closing of $ 75.0 million with a remaining balance of $ 32.0 million that was paid on october 1 , 2019. the residual purchase consideration consists of an earn-out provision related to an existing commercial agreement with a third-party , based on the future results of certain of the acquired idled assets ( the “ pbfx contingent consideration ” ) . the consideration was financed through a combination of cash on hand and borrowings under the pbfx revolving credit facility . development assets acquisition on july 16 , 2018 , pbfx and pbf llc entered into the development assets contribution agreements , pursuant to which pbfx acquired from pbf llc all of the issued and outstanding limited liability company interests of toledo rail logistics company llc , whose assets consist of a loading and unloading rail facility located at pbf holding 's toledo refinery ( the “ toledo rail products facility ” ) ; chalmette logistics company llc , whose assets consist of a truck loading rack facility ( the “ chalmette truck rack ” ) and a rail yard facility ( the “ chalmette rosin yard ” ) , both of which

cash flow analysis cash flows from operating activities net cash used in operating activities was $ ( 631.6 ) million for the year ended december 31 , 2020 compared to net cash provided by operating activities of $ 933.5 million for the year ended december 31 , 2019. our operating cash flows for the year ended december 31 , 2020 included our net loss of $ 1,333.3 million , gain on sale of assets of $ 477.8 million mainly related to the sale of the hydrogen plants and the sale of land at our torrance refinery , change in the tax receivable agreement liability of $ 373.5 million , net non-cash charges relating to the change in the fair value of our inventory repurchase obligations of $ 12.6 million and change in the fair value of the contingent consideration of $ 93.7 million , partially offset by depreciation and amortization of $ 581.1 million , net non-cash charge of $ 268.0 million relating to an lcm inventory adjustment , impairment expense of $ 98.8 million , pension and other post-retirement benefits costs of $ 55.7 million , stock-based compensation of $ 34.2 million , debt extinguishment costs related to the early redemption of our 2023 senior notes of $ 22.2 million , change in the fair value of our catalyst obligations of $ 11.8 million and deferred income taxes of $ 1.6 million . in addition , net changes in operating assets and liabilities reflects cash inflows of $ 585.9 million driven by the timing of inventory purchases , payments for accrued expenses and accounts payable and collections of accounts receivable .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flow analysis cash flows from operating activities net cash used in operating activities was $ ( 631.6 ) million for the year ended december 31 , 2020 compared to net cash provided by operating activities of $ 933.5 million for the year ended december 31 , 2019. our operating cash flows for the year ended december 31 , 2020 included our net loss of $ 1,333.3 million , gain on sale of assets of $ 477.8 million mainly related to the sale of the hydrogen plants and the sale of land at our torrance refinery , change in the tax receivable agreement liability of $ 373.5 million , net non-cash charges relating to the change in the fair value of our inventory repurchase obligations of $ 12.6 million and change in the fair value of the contingent consideration of $ 93.7 million , partially offset by depreciation and amortization of $ 581.1 million , net non-cash charge of $ 268.0 million relating to an lcm inventory adjustment , impairment expense of $ 98.8 million , pension and other post-retirement benefits costs of $ 55.7 million , stock-based compensation of $ 34.2 million , debt extinguishment costs related to the early redemption of our 2023 senior notes of $ 22.2 million , change in the fair value of our catalyst obligations of $ 11.8 million and deferred income taxes of $ 1.6 million . in addition , net changes in operating assets and liabilities reflects cash inflows of $ 585.9 million driven by the timing of inventory purchases , payments for accrued expenses and accounts payable and collections of accounts receivable .
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 Suspicious Activity Report : a material adverse effect on our liquidity , as we would be required to finance our crude oil , intermediate and refined products inventory covered by the agreements . additionally , we are obligated to repurchase from j. aron certain j. aron products located at our j. aron storage tanks upon termination of these agreements ; restrictive covenants in our indebtedness that may adversely affect our operational flexibility ; payments by pbf energy to the current and former holders of pbf llc series a units and pbf llc series b units under pbf energy 's tax receivable agreement for certain tax benefits we may claim ; our assumptions regarding payments arising under pbf energy 's tax receivable agreement and other arrangements relating to our organizational structure are subject to change due to various factors , including , among other factors , the timing of exchanges of pbf llc series a units for shares of pbf energy class a common stock as contemplated by the tax receivable agreement , the price of pbf energy class a common stock at the time of such exchanges , the extent to which such exchanges are taxable , and the amount and timing of our income ; our expectations and timing with respect to our acquisition activity and whether such acquisitions are accretive or dilutive to shareholders ; the impact of disruptions to crude or feedstock supply to any of our refineries , including disruptions due to problems at pbfx or with third-party logistics infrastructure or operations , including pipeline , marine and rail transportation ; the possibility that we might not make further dividend payments ; the inability of our subsidiaries to freely pay dividends or make distributions to us ; the impact of current and future laws , rulings and governmental regulations , including the implementation of rules and regulations regarding transportation of crude oil by rail ; the threat of cyber-attacks ; our increased dependence on technology ; the effectiveness of our crude oil sourcing strategies , including our crude by rail strategy and related commitments ; adverse impacts related to legislation by the federal government lifting the restrictions on exporting u.s. crude oil ; adverse impacts from changes in our regulatory environment , such as the effects of compliance with ab32 , or from actions taken by environmental interest groups ; market risks related to the volatility in the price of rins required to comply with the renewable fuel standard and ghg emission credits required to comply with various ghg emission programs , such as ab32 ; our ability to complete the successful integration of the martinez refinery and any other acquisitions into our business and to realize the benefits from such acquisitions ; unforeseen liabilities associated with the martinez acquisition and any other acquisitions ; risk associated with the operation of pbfx as a separate , publicly-traded entity ; potential tax consequences related to our investment in pbfx ; and any decisions we continue to make with respect to our energy-related logistics assets that may be transferred to pbfx . 67 we caution you that the foregoing list of important factors may not contain all of the material factors that are important to you . in addition , in light of these risks and uncertainties , the matters referred to in the forward-looking statements contained in this annual report on form 10-k may not in fact occur . accordingly , investors should not place undue reliance on those statements . our forward-looking statements speak only as of the date of this annual report on form 10-k. except as required by applicable law , including the securities laws of the united states , we do not intend to update or revise any forward-looking statements . all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing . executive summary our business operations are conducted by pbf llc and its subsidiaries . we were formed in march 2008 to pursue the acquisitions of crude oil refineries and downstream assets in north america . we own and operate six domestic oil refineries and related assets located in delaware city , delaware , paulsboro , new jersey , toledo , ohio , chalmette , louisiana , torrance , california , and martinez , california . based on current configuration ( subsequent to the east coast refining reconfiguration ) , our refineries have a combined processing capacity , known as throughput , of approximately 1,000,000 bpd , and a weighted-average nelson complexity index of 13.2 based on current operating conditions . the complexity and throughput capacity of our refineries are subject to change dependent upon configuration changes we make to respond to market conditions as well as a result of investments made to improve our facilities and maintain compliance with environmental and governmental regulations . we operate in two reportable business segments : refining and logistics . our six oil refineries are all engaged in the refining of crude oil and other feedstocks into petroleum products , and are aggregated into the refining segment . pbfx operates certain logistical assets such as crude oil and refined petroleum products terminals , pipelines , and storage facilities , which are aggregated into the logistics segment . factors affecting comparability our results over the past three years have been affected by the following events , the understanding of which will aid in assessing the comparability of our period to period financial performance and financial condition . covid-19 and market developments the impact of the unprecedented global health and economic crisis sparked by the covid-19 pandemic was amplified late in the quarter ended march 31 , 2020 due to movements made by the world 's largest oil producers to increase market share . this created simultaneous shocks in oil supply and demand resulting in an economic challenge to our industry which has not occurred since our formation . story_separator_special_tag effective with completion of the initial public offering , pbf energy consolidates the financial results of pbf llc and its subsidiaries and records a noncontrolling interest in its consolidated financial statements representing the economic interests of pbf llc unitholders other than pbf energy . additionally , a series of secondary offerings were made subsequent to our ipo whereby funds affiliated with the blackstone group l.p. ( “ blackstone ” ) and first reserve management l.p. ( “ first reserve ” ) sold their interests in us . as a result of these secondary offerings , blackstone and first reserve no longer hold any pbf llc series a units . on august 14 , 2018 , pbf energy completed a public offering of an aggregate of 6,000,000 shares of pbf energy class a common stock for net proceeds of $ 287.3 million , after deducting underwriting discounts and commissions and other offering expenses ( the “ august 2018 equity offering ” ) . as of december 31 , 2020 , including the offerings described above , pbf energy owns 120,122,872 pbf llc series c units and our current and former executive officers and directors and certain employees and others beneficially own 970,647 pbf llc series a units . the holders of our issued and outstanding shares of pbf energy class a common stock have 99.2 % of the voting power in us and the members of pbf llc , other than pbf energy through their holdings of class b common stock , have the remaining 0.8 % of the voting power in us . pbfx equity offerings on april 24 , 2019 , pbfx entered into subscription agreements to sell an aggregate of 6,585,500 common units to certain institutional investors in a registered direct offering ( the “ 2019 registered direct offering ” ) for gross proceeds of approximately $ 135.0 million . the 2019 registered direct offering closed on april 29 , 2019. on july 30 , 2018 , pbfx closed on a common unit purchase agreement with certain funds managed by tortoise capital advisors , l.l.c . providing for the issuance and sale in a registered direct offering of an aggregate of 1,775,750 common units for net proceeds of approximately $ 34.9 million . as of december 31 , 2020 , pbf llc held a 48.0 % limited partner interest in pbfx with the remaining 52.0 % limited partner interest owned by public common unitholders . pbfx assets and transactions pbfx 's assets consist of various logistics assets ( as described in “ item 1. business ” ) . apart from business associated with certain third-party acquisitions , pbfx 's revenues are derived from long-term , fee-based commercial agreements with subsidiaries of pbf holding , which include minimum volume commitments , for receiving , handling , transferring and storing crude oil , refined products and natural gas . these transactions are eliminated by pbf energy and pbf llc in consolidation . since the inception of pbfx in 2014 , pbf llc and pbfx have entered into a series of drop-down transactions . such transactions and third-party acquisitions made by pbfx occurring in the three years ended december 31 , 2020 are discussed below . 73 tvpc acquisition on april 24 , 2019 , pbfx entered into the tvpc contribution agreement , pursuant to which pbf llc contributed to pbfx all of the issued and outstanding limited liability company interests of tvp holding for total consideration of $ 200.0 million . prior to the tvpc acquisition , tvp holding owned a 50 % membership interest in tvpc . subsequent to the closing of the tvpc acquisition on may 31 , 2019 , pbfx owns 100 % of the membership interests in tvpc . the transaction was financed through a combination of proceeds from the 2019 registered direct offering and borrowings under the pbfx revolving credit facility . pbfx idr restructuring on february 28 , 2019 , pbfx closed on the idr restructuring agreement with pbf llc and pbf gp , pursuant to which pbfx 's idrs held by pbf llc were canceled and converted into 10,000,000 newly issued pbfx common units . subsequent to the closing of the idr restructuring , no distributions were made to pbf llc with respect to the idrs and the newly issued pbfx common units are entitled to normal distributions by pbfx . east coast storage assets acquisition on october 1 , 2018 , pbfx closed on its agreement with crown point to purchase its wholly-owned subsidiary , cpi operations llc ( the “ east coast storage assets acquisition ” ) for total consideration of approximately $ 127.0 million , including working capital and the contingent consideration ( as defined in “ note 4 - acquisitions ” of our notes to consolidated financial statements ) , comprised of an initial payment at closing of $ 75.0 million with a remaining balance of $ 32.0 million that was paid on october 1 , 2019. the residual purchase consideration consists of an earn-out provision related to an existing commercial agreement with a third-party , based on the future results of certain of the acquired idled assets ( the “ pbfx contingent consideration ” ) . the consideration was financed through a combination of cash on hand and borrowings under the pbfx revolving credit facility . development assets acquisition on july 16 , 2018 , pbfx and pbf llc entered into the development assets contribution agreements , pursuant to which pbfx acquired from pbf llc all of the issued and outstanding limited liability company interests of toledo rail logistics company llc , whose assets consist of a loading and unloading rail facility located at pbf holding 's toledo refinery ( the “ toledo rail products facility ” ) ; chalmette logistics company llc , whose assets consist of a truck loading rack facility ( the “ chalmette truck rack ” ) and a rail yard facility ( the “ chalmette rosin yard ” ) , both of which

