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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income (loss) available to common stockholders $ 26,799 $ (82,201)
Adjustments to reconcile net income (loss) available to common stockholders to cash used in operating activities:    
Depreciation and amortization 50,234 51,690
Stock compensation 799 350
Deferred income tax expense 8,752 (52,486)
Non-controlling interest in income (loss) of subsidiaries 837 (6,057)
Equity earnings of investees (net of dividends) 0 (775)
Amortization of debt issuance costs 2,872 2,880
Amortization of original issuance discount 1,294 812
Write-off of unamortized debt issuance costs 0 6,659
(Gain) loss on disposition of assets 68 (474)
Changes in operating assets and liabilities, net of acquisition effects:    
Accounts and other receivables, net (98,479) (49,417)
Income tax receivable 0 47,290
Inventories (143,723) (7,160)
Prepaid expenses and other current assets (1,770) (616)
Other assets, net (19,442) (25,032)
Accounts payable 55,828 51,453
Accrued liabilities 29,094 (533)
Other non-current liabilities 35,721 2,057
Net cash used in operating activities (51,116) (61,560)
Cash flows from investing activities:    
Capital expenditures (67,958) (12,688)
Capital expenditures for turnarounds and catalysts (4,262) (11,531)
Dividends from investees, net of equity earnings 480 0
Proceeds from disposition of assets 40 20,095
Proceeds from sale of securities 0 36,852
Acquisition of Bakersfield Refinery 0 (32,409)
Earnout payment related to Krotz Springs refinery acquisition (4,375) (4,375)
Net cash used in investing activities (76,075) (4,056)
Cash flows from financing activities:    
Dividends paid to stockholders (4,427) (4,335)
Dividends paid to non-controlling interest (430) (429)
Proceeds from issuance of common stock 11,900 0
Stock issuance costs (537) 0
Inventory supply agreement 1,165 45,807
Deferred debt issuance costs (1,900) (2,354)
Revolving credit facilities, net 142,498 (41,824)
Additions to long-term debt 30,136 0
Payments on long-term debt (5,759) (5,473)
Additions to short-term debt 0 76,500
Payments on short-term debt 0 (35,000)
Net cash provided by financing activities 172,646 32,892
Net increase (decrease) in cash and cash equivalents 45,455 (32,724)
Cash and cash equivalents, beginning of period 71,687 40,437
Cash and cash equivalents, end of period 117,142 7,713
Supplemental cash flow information:    
Cash paid (received) for income tax, net of refunds 2,819 (46,374)
Cash paid for interest $ 37,428 $ 38,846