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Guarantor Subsidiaries (Tables)
12 Months Ended
Dec. 31, 2019
Guarantor Subsidiaries [Abstract]  
Consolidating Balance Sheet CONSOLIDATING BALANCE SHEET
 
(Millions of dollars)
December 31, 2019
Assets
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Current assets
 

 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
$
—

 
$
279.4

 
$
0.9

 
$
—

 
$
—

 
$
280.3

Accounts receivable—trade, less allowance for doubtful accounts of $1.2 in 2019
—

 
173.0

 
(0.1
)
 
—

 
—

 
172.9

Inventories, at lower of cost or market
—

 
227.6

 
—

 
—

 
—

 
227.6

Prepaid expenses and other current assets
—

 
29.6

 
0.4

 
—

 
—

 
30.0

Total current assets
—

 
709.6

 
1.2

 
—

 
—

 
710.8

Property, plant and equipment, at cost less accumulated depreciation and amortization of $1,079.2 in 2019
—

 
1,799.1

 
8.2

 
—

 
—

 
1,807.3

Investments in subsidiaries
2,591.8

 
143.9

 
—

 
—

 
(2,735.7
)
 
—

Other assets
—

 
169.1

 
—

 
—

 
—

 
169.1

Total assets
$
2,591.8

 
$
2,821.7

 
$
9.4

 
$
—

 
$
(2,735.7
)
 
$
2,687.2

Liabilities and Stockholders' Equity
 

 
 

 
 

 
 

 
 

 
 

Current liabilities
 

 
 

 
 

 
 

 
 

 
 

Current maturities of long-term debt
$
—

 
$
38.8

 
$
—

 
$
—

 
$
—

 
$
38.8

Inter-company accounts payable
(0.1
)
 
196.1

 
(41.7
)
 
(154.3
)
 
—

 
—

Trade accounts payable and accrued liabilities
—

 
466.2

 
—

 
—

 
—

 
466.2

Total current liabilities
(0.1
)
 
701.1

 
(41.7
)
 
(154.3
)
 
—

 
505.0

Long-term debt, including capitalized lease obligations
—

 
999.3

 
—

 
—

 
—

 
999.3

Deferred income taxes
—

 
216.7

 
—

 
—

 
—

 
216.7

Asset retirement obligations
—

 
32.8

 
—

 
—

 
—

 
32.8

Deferred credits and other liabilities
—

 
130.4

 
—

 
—

 
—

 
130.4

Total liabilities
(0.1
)
 
2,080.3

 
(41.7
)
 
(154.3
)
 
—

 
1,884.2

Stockholders' Equity
 

 
 

 
 

 
 

 
 

 
 

Preferred Stock, par $0.01 (authorized 20,000,000 shares, none outstanding)
—

 
—

 
—

 
—

 
—

 
—

Common Stock, par $0.01 (authorized 200,000,000 shares, 46,767,164 shares issued at December 31, 2019)
0.5

 
—

 
0.1

 
—

 
(0.1
)
 
0.5

Treasury stock (16,307,048 shares held at December 31, 2019)
(1,099.8
)
 
—

 
—

 
—

 
—

 
(1,099.8
)
Additional paid in capital (APIC)
1,188.8

 
578.8

 
52.0

 
87.5

 
(1,368.4
)
 
538.7

Retained earnings
2,502.4

 
161.9

 
(1.0
)
 
66.8

 
(1,367.2
)
 
1,362.9

Accumulated other comprehensive income (AOCI)
—

 
0.7

 
—

 
—

 
—

 
0.7

Total stockholders' equity
2,591.9

 
741.4

 
51.1

 
154.3

 
(2,735.7
)
 
803.0

Total liabilities and stockholders' equity
$
2,591.8

 
$
2,821.7

 
$
9.4

 
$
—

 
$
(2,735.7
)
 
$
2,687.2

CONSOLIDATING BALANCE SHEET
 
(Millions of dollars)
December 31, 2018
Assets
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Current assets
 
 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
$
—

 
$
184.0

 
$
0.5

 
$
—

 
$
—

 
$
184.5

Accounts receivable—trade, less allowance for doubtful accounts of $1.1 in 2018
—

 
138.8

 
—

 
—

 
—

 
138.8

Inventories, at lower of cost or market
—

 
221.5

 
—

 
—

 
—

 
221.5

Prepaid expenses and other current assets
—

 
25.1

 
0.2

 
—

 
—

 
25.3

Total current assets
—

 
569.4

 
0.7

 
—

 
—

 
570.1

Property, plant and equipment, at cost less accumulated depreciation and amortization of $974.2 in 2018
—

 
1,745.9

 
2.3

 
—

 
—

 
1,748.2

Investments in subsidiaries
2,437.0

 
144.4

 
—

 
—

 
(2,581.4
)
 
—

Other assets
—

 
42.5

 
—

 
—

 
—

 
42.5

Total assets
$
2,437.0

 
$
2,502.2

 
$
3.0

 
$
—

 
$
(2,581.4
)
 
$
2,360.8

Liabilities and Stockholders' Equity
 

 
 

 
 

 
 

 
 

 
 

Current liabilities
 

 
 

 
 

 
 

 
 

 
 

Current maturities of long-term debt
$
—

 
$
21.2

 
$
—

 
$
—

 
$
—

 
$
21.2

Inter-company accounts payable
(0.1
)
 
203.0

 
(48.6
)
 
(154.3
)
 
—

 
—

Trade accounts payable and accrued liabilities
—

 
456.9

 
—

 
—

 
—

 
456.9

Total current liabilities
(0.1
)
 
681.1

 
(48.6
)
 
(154.3
)
 
—

 
478.1

Long-term debt, including capitalized lease obligations
—

 
842.1

 
—

 
—

 
—

 
842.1

Deferred income taxes
—

 
192.2

 
—

 
—

 
—

 
192.2

Asset retirement obligations
—

 
30.7

 
—

 
—

 
—

 
30.7

Deferred credits and other liabilities
—

 
10.4

 
—

 
—

 
—

 
10.4

Total liabilities
(0.1
)
 
1,756.5

 
(48.6
)
 
(154.3
)
 
—

 
1,553.5

Stockholders' Equity
 

 
 

 
 

 
 

 
 

 
 

Preferred Stock, par $0.01 (authorized 20,000,000 shares, none outstanding)
—

 
—

 
—

 
—

 
—

 
—

Common Stock, par $0.01 (authorized 200,000,000 shares, 46,767,164 shares issued at December 31, 2018)
0.5

 
—

 
0.1

 
—

 
(0.1
)
 
0.5

Treasury stock (14,505,681 shares held at December 31, 2018)
(940.3
)
 
—

 
—

 
—

 
—

 
(940.3
)
Additional paid in capital (APIC)
1,195.1

 
572.8

 
52.0

 
87.5

 
(1,368.4
)
 
539.0

Retained earnings
2,181.8

 
172.9

 
(0.5
)
 
66.8

 
(1,212.9
)
 
1,208.1

Accumulated other comprehensive income (AOCI)
—

 
—

 
—

 
—

 
—

 
—

Total stockholders' equity
2,437.1

 
745.7

 
51.6

 
154.3

 
(2,581.4
)
 
807.3

Total liabilities and stockholders' equity
$
2,437.0

 
$
2,502.2

 
$
3.0

 
$
—

 
$
(2,581.4
)
 
$
2,360.8


Consolidating Income Statement
CONSOLIDATING INCOME STATEMENT AND COMPREHENSIVE INCOME

(Millions of dollars)
Year ended December 31, 2019
Operating Revenues
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Petroleum product sales
$
—

 
$
11,373.8

 
$
—

 
$
—

 
$
—

 
$
11,373.8

Merchandise sales
—

 
2,620.1

 
—

 
—

 
—

 
2,620.1

Other operating revenues
—

 
40.7

 
—

 
—

 
—

 
40.7

Total operating revenues
—

 
14,034.6

 
—

 
—

 
—

 
14,034.6

Operating expenses
 

 
 

 
 

 
 

 
 

 
 

Petroleum product cost of goods sold
—

 
10,707.4

 
—

 
—

 
—

 
10,707.4

Merchandise cost of goods sold
—

 
2,200.7

 
—

 
—

 
—

 
2,200.7

Station and other operating expenses
—

 
559.3

 
—

 
—

 
—

 
559.3

Depreciation and amortization
—

 
152.1

 
0.1

 
—

 
—

 
152.2

Selling, general and administrative
—

 
144.6

 
—

 
—

 
—

 
144.6

Accretion of asset retirement obligations
—

 
2.1

 
—

 
—

 
—

 
2.1

Total operating expenses
—

 
13,766.2

 
0.1

 
—

 
—

 
13,766.3

Net settlement proceeds
—

 
0.1

 
—

 
—

 
—

 
0.1

Gain (loss) on sale of assets
—

 
0.1

 
—

 
—

 
—

 
0.1

Income from operations
—

 
268.6

 
(0.1
)
 
—

 
—

 
268.5

Other income (expense)
 
 
 
 
 
 
 
 
 
 
 
Interest income
—

 
3.2

 
—

 
—

 
—

 
3.2

Interest expense
—

 
(54.9
)
 
—

 
—

 
—

 
(54.9
)
Loss on early debt extinguishment
—

 
(14.8
)
 
—

 
—

 
—

 
(14.8
)
Other nonoperating income/expense
165.8

 
(164.8
)
 
(0.6
)
 
—

 
—

 
0.4

Total other income (expense)
165.8

 
(231.3
)
 
(0.6
)
 
—

 
—

 
(66.1
)
Income before income taxes
165.8

 
37.3

 
(0.7
)
 
—

 
—

 
202.4

Income tax expense (benefit)
—

 
47.8

 
(0.2
)
 
—

 
—

 
47.6

Income (loss)
165.8

 
(10.5
)
 
(0.5
)
 
—

 
—

 
154.8

Equity earnings in affiliates, net of tax
154.8

 
(0.5
)
 
—

 
—

 
(154.3
)
 
—

Net income (loss)
$
320.6

 
$
(11.0
)
 
$
(0.5
)
 
$
—

 
$
(154.3
)
 
$
154.8

Other comprehensive income
—

 
0.7

 
—

 
—

 
—

 
0.7

Comprehensive income (loss)
$
320.6

 
$
(10.3
)
 
$
(0.5
)
 
$
—

 
$
(154.3
)
 
$
155.5


CONSOLIDATING INCOME STATEMENT AND COMPREHENSIVE INCOME

(Millions of dollars)
Year ended December 31, 2018
Operating Revenues
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Petroleum product sales
$
—

 
$
11,858.4

 
$
—

 
$
—

 
$
—

 
$
11,858.4

Merchandise sales
—

 
2,423.0

 
—

 
—

 
—

 
2,423.0

Ethanol sales and other
—

 
81.5

 
—

 
—

 
—

 
81.5

Total operating revenues
—

 
14,362.9

 
—

 
—

 
—

 
14,362.9

Operating Expenses
 

 
 

 
 

 
 

 
 

 
 

Petroleum product cost of goods sold
—

 
11,251.1

 
—

 
—

 
—

 
11,251.1

Merchandise cost of goods sold
—

 
2,022.5

 
—

 
—

 
—

 
2,022.5

Station and other operating expenses
—

 
541.3

 
—

 
—

 
—

 
541.3

Depreciation and amortization
—

 
134.0

 
—

 
—

 
—

 
134.0

Selling, general and administrative
—

 
136.2

 
—

 
—

 
—

 
136.2

Accretion of asset retirement obligations
—

 
2.0

 
—

 
—

 
—

 
2.0

Total operating expenses
—

 
14,087.1

 
—

 
—

 
—

 
14,087.1

Net settlement proceeds
 
 
50.4

 
 
 
 
 
 
 
50.4

Gain (loss) on sale of assets
—

 
(1.1
)
 
—

 
—

 
—

 
(1.1
)
Income from operations
—

 
325.1

 
—

 
—

 
—

 
325.1

Other income (expense)
 

 
 

 
 

 
 

 
 

 
 

Interest income
—

 
1.5

 
—

 
—

 
—

 
1.5

Interest expense
—

 
(52.9
)
 
—

 
—

 
—

 
(52.9
)
Other nonoperating income
973.7

 
(972.9
)
 
(0.6
)
 
—

 
—

 
0.2

Total other income (expense)
973.7

 
(1,024.3
)
 
(0.6
)
 
—

 
—

 
(51.2
)
Income before income taxes
973.7

 
(699.2
)
 
(0.6
)
 
—

 
—

 
273.9

Income tax expense (benefit)
—

 
60.4

 
(0.1
)
 
—

 
—

 
60.3

Income
973.7

 
(759.6
)
 
(0.5
)
 
—

 
—

 
213.6

Equity earnings in affiliates, net of tax
213.6

 
(0.5
)
 
—

 
—

 
(213.1
)
 
—

Net income (loss)
$
1,187.3

 
$
(760.1
)
 
$
(0.5
)
 
$
—

 
$
(213.1
)
 
$
213.6

Other comprehensive income
—

 
—

 
—

 
—

 
—

 
—

Comprehensive income (loss)
$
1,187.3

 
$
(760.1
)
 
$
(0.5
)
 
$
—

 
$
(213.1
)
 
$
213.6

CONSOLIDATING INCOME STATEMENT AND COMPREHENSIVE INCOME

(Millions of dollars)
Year ended December 31, 2017
Operating Revenues
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Petroleum product sales
$
—

 
$
10,287.9

 
$
—

 
$
—

 
$
—

 
$
10,287.9

Merchandise sales
—

 
2,372.7

 
—

 
—

 
—

 
2,372.7

Ethanol sales and other
—

 
166.0

 
—

 
—

 
—

 
166.0

Total operating revenues
—

 
12,826.6

 
—

 
—

 
—

 
12,826.6

Operating expenses
 

 
 

 
 

 
 

 
 

 
 

Petroleum product cost of goods sold
—

 
9,773.2

 
—

 
—

 
—

 
9,773.2

Merchandise cost of goods sold
—

 
1,991.4

 
—

 
—

 
—

 
1,991.4

Station and other operating expenses
—

 
514.9

 
—

 
—

 
—

 
514.9

Depreciation and amortization
—

 
116.9

 
—

 
—

 
—

 
116.9

Selling, general and administrative
—

 
141.2

 
—

 
—

 
—

 
141.2

Accretion of asset retirement obligations
—

 
1.8

 
—

 
—

 
—

 
1.8

Total operating expenses
—

 
12,539.4

 
—

 
—

 
—

 
12,539.4

Gain (loss) on sale of assets
—

 
(3.9
)
 
—

 
—

 
—

 
(3.9
)
Income from operations
—

 
283.3


—

 
—

 
—

 
283.3

Other income (expense)
 

 
 

 
 

 
 

 
 

 
 

Interest income
—

 
1.3

 
—

 
—

 
—

 
1.3

Interest expense
—

 
(46.7
)
 
—

 
—

 
—

 
(46.7
)
Other nonoperating income
—

 
2.2

 
—

 
—

 
—

 
2.2

Total other income (expense)
—

 
(43.2
)
 
—

 
—

 
—

 
(43.2
)
Income before income taxes
—

 
240.1

 
—

 
—

 
—

 
240.1

Income tax expense (benefit)
—

 
(5.2
)
 
—

 
—

 
—

 
(5.2
)
Income
—

 
245.3

 
—

 
—

 
—

 
245.3

Equity earnings in affiliates, net of tax
245.3

 
—

 
—

 
—

 
(245.3
)
 
—

Net income (loss)
$
245.3

 
$
245.3

 
$
—

 
$
—

 
$
(245.3
)
 
$
245.3

Other comprehensive income
—

 
—

 
—

 
—

 
—

 
—

Comprehensive income (loss)
$
245.3

 
$
245.3

 
$
—

 
$
—

 
$
(245.3
)
 
$
245.3


Consolidating Statement of Cash Flow
CONSOLIDATING STATEMENT OF CASH FLOWS
 
(Millions of dollars)
Year ended December 31, 2019
Operating Activities
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
320.6

 
$
(11.0
)
 
$
(0.5
)
 
$
—

 
$
(154.3
)

$
154.8

Adjustments to reconcile net income (loss) to net cash provided by operating activities
 

 
 

 
 

 
 

 
 

 
 
Depreciation and amortization
—

 
152.1

 
0.1

 
—

 
—

 
152.2

Deferred and noncurrent income tax charges (benefits)
—

 
23.7

 
—

 
—

 
—

 
23.7

Accretion of asset retirement obligations
—

 
2.1

 
—

 
—

 
—

 
2.1

(Gain) loss from sale of assets
—

 
(0.1
)
 
—

 
—

 
—

 
(0.1
)
Net decrease (increase) in noncash operating working capital
—

 
(48.6
)
 
(0.1
)
 
—

 
—

 
(48.7
)
Equity in earnings
(154.8
)
 
0.5

 
—

 
—

 
154.3

 
—

Loss on early debt extinguishment
—

 
14.8

 
—

 
—

 
—

 
14.8

Other operating activities - net
—

 
14.5

 
—

 
—

 
—

 
14.5

Net cash provided by (required by) operating activities
165.8

 
148.0

 
(0.5
)
 
—

 
—

 
313.3

Investing Activities
 
 
 
 
 
 
 
 
 
 
 
Property additions
—

 
(198.8
)
 
(6.0
)
 
—

 
—

 
(204.8
)
Proceeds from sale of assets
—

 
2.5

 
—

 
—

 
—

 
2.5

Other investing activities - net
—

 
(0.8
)
 
—

 
—

 
—

 
(0.8
)
Net cash provided by (required by) investing activities
—

 
(197.1
)
 
(6.0
)
 
—

 
—

 
(203.1
)
Financing Activities
 
 
 
 
 
 
 
 
 
 
 
Purchase of treasury stock
(165.8
)
 
—

 
—

 
—

 
—

 
(165.8
)
Repayments of debt
—

 
(573.4
)
 
—

 
—

 
—

 
(573.4
)
Borrowings of debt
—

 
743.8

 
—

 
—

 
—

 
743.8

Early debt extinguishment costs
—

 
(10.4
)
 
—

 
—

 
—

 
(10.4
)
Debt issuance costs
—

 
(4.1
)
 
—

 
—

 
—

 
(4.1
)
Amounts related to share-based compensation
—

 
(4.5
)
 
—

 
—

 
—

 
(4.5
)
Net distributions to parent
—

 
(6.9
)
 
6.9

 
—

 
—

 
—

Net cash provided by (required by) financing activities
(165.8
)
 
144.5

 
6.9

 
—

 
—

 
(14.4
)
Net change in cash, cash equivalents, and restricted cash
—

 
95.4

 
0.4

 
—

 
—

 
95.8

Cash, cash equivalents, and restricted cash at January 1
—

 
184.0

 
0.5

 
—

 
—

 
184.5

Cash, cash equivalents, and restricted cash at December 31
$
—

 
$
279.4

 
$
0.9

 
$
—

 
$
—

 
$
280.3

 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Cash, Cash Equivalents and Restricted Cash
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash equivalents at beginning of period
$
—

 
$
184.0

 
$
0.5

 
$
—

 
$
—

 
$
184.5

Restricted cash at beginning of period
—

 
—

 
—

 
—

 
—

 
—

Cash, cash equivalents, and restricted cash at beginning of period
$
—

 
$
184.0

 
$
0.5

 
$
—

 
$
—

 
$
184.5

 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at end of period
$
—

 
$
279.4

 
$
0.9

 
$
—

 
$
—

 
$
280.3

Restricted cash at end of period
—

 
—

 
—

 
—

 
—

 
—

Cash, cash equivalents, and restricted cash at end of period
$
—

 
$
279.4

 
$
0.9

 
$
—

 
$
—

 
$
280.3

CONSOLIDATING STATEMENT OF CASH FLOWS

(Millions of dollars)
Year ended December 31, 2018
Operating Activities
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
1,187.3

 
$
(760.1
)
 
$
(0.5
)
 
$
—

 
$
(213.1
)
 
$
213.6

Adjustments to reconcile net income (loss) to net cash provided by operating activities
 

 
 

 
 

 
 

 
 

 
 

Depreciation and amortization
—

 
134.0

 
—

 
—

 
—

 
134.0

Deferred and noncurrent income tax charges (credits)
—

 
37.9

 
—

 
—

 
—

 
37.9

Accretion of asset retirement obligations
—

 
2.0

 
—

 
—

 
—

 
2.0

(Gains) loss from sale of assets
—

 
1.1

 
—

 
—

 
—

 
1.1

Net decrease (increase) in noncash operating working capital
—

 
2.4

 
(0.1
)
 
—

 
—

 
2.3

Equity in earnings
(213.6
)
 
0.5

 
—

 
—

 
213.1

 
—

Other operating activities - net
—

 
7.8

 
—

 
—

 
—

 
7.8

Net cash provided by (required by) operating activities
973.7

 
(574.4
)
 
(0.6
)
 
—

 
—

 
398.7

Investing Activities
 

 
 

 
 

 
 

 
 

 
 

Property additions
—

 
(203.1
)
 
(1.2
)
 
—

 
—

 
(204.3
)
Proceeds from sale of assets
—

 
1.2

 
—

 
—

 
—

 
1.2

Other investing activities - net
—

 
(6.0
)
 
—

 
—

 
—

 
(6.0
)
Net cash provided by (required by) investing activities
—

 
(207.9
)
 
(1.2
)
 
—

 
—

 
(209.1
)
Financing Activities
 

 
 

 
 

 
 

 
 

 
 

Purchase of treasury stock
(144.4
)
 
—

 
—

 
—

 
—

 
(144.4
)
Repayments of debt
—

 
(21.3
)
 
—

 
—

 
—

 
(21.3
)
Borrowings of debt
—

 
—

 
—

 
—

 
—

 
—

Debt issuance costs
—

 
—

 
—

 
—

 
—

 
—

Amounts related to share-based compensation
—

 
(9.4
)
 
—

 
—

 
—

 
(9.4
)
Net distributions to parent
(829.3
)
 
827.1

 
2.2

 
—

 
—

 
—

Net cash provided by (required by) financing activities
(973.7
)
 
796.4

 
2.2

 
—

 
—

 
(175.1
)
Net change in cash, cash equivalents, and restricted cash
—

 
14.1

 
0.4

 
—

 
—

 
14.5

Cash, cash equivalents, and restricted cash at January 1
—

 
169.9

 
0.1

 
—

 
—

 
170.0

Cash, cash equivalents, and restricted cash at December 31
$
—

 
$
184.0

 
$
0.5

 
$
—

 
$
—

 
$
184.5

 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Cash, Cash Equivalents and Restricted Cash
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at beginning of period
$
—

 
$
169.9

 
$
0.1

 
$
—

 
$
—

 
$
170.0

Restricted cash at beginning of period
—

 
—

 
—

 
—

 
—

 
—

Cash, cash equivalents and restricted cash at beginning of period
$
—

 
$
169.9

 
$
0.1

 
$
—

 
$
—

 
$
170.0

 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at end of period
$
—

 
$
184.0

 
$
0.5

 
$
—

 
$
—

 
$
184.5

Restricted cash at end of period
—

 
—

 
—

 
—

 
—

 
—

Cash, cash equivalents and restricted cash at end of period
$
—

 
$
184.0

 
$
0.5

 
$
—

 
$
—

 
$
184.5


CONSOLIDATING STATEMENT OF CASH FLOWS

(Millions of dollars)
Year ended December 31, 2017
Operating Activities
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Net income (loss)
$
245.3

 
$
245.3

 
$
—

 
$
—

 
$
(245.3
)
 
$
245.3

Adjustments to reconcile net income (loss) to net cash provided by operating activities
 

 
 

 
 

 
 

 
 

 
 

Depreciation and amortization
—

 
116.9

 
—

 
—

 
—

 
116.9

Deferred and noncurrent income tax charges (credits)
—

 
(50.4
)
 
—

 
—

 
—

 
(50.4
)
Accretion of asset retirement obligations
—

 
1.8

 
—

 
—

 
—

 
1.8

(Gains) loss from sale of assets
—

 
3.9

 
—

 
—

 
—

 
3.9

Net decrease (increase) in noncash operating working capital
—

 
(36.9
)
 
—

 
—

 
—

 
(36.9
)
Equity in earnings
(245.3
)
 
—

 
—

 
—

 
245.3

 
—

Other operating activities - net
—

 
3.0

 
—

 
—

 
—

 
3.0

Net cash provided by (required by) operating activities
—

 
283.6

 
—

 
—

 
—

 
283.6

Investing Activities
 
 
 

 
 

 
 

 
 

 
 

Property additions
—

 
(257.1
)
 
(1.2
)
 
—

 
—

 
(258.3
)
Proceeds from sale of assets
—

 
0.9

 
—

 
—

 
—

 
0.9

Other investing activities - net
—

 
(4.7
)
 
—

 
—

 
—

 
(4.7
)
Net cash provided by (required by) investing activities
—

 
(260.9
)
 
(1.2
)
 
—

 
—

 
(262.1
)
Financing Activities
 
 
 

 
 

 
 

 
 

 
 

Purchase of treasury stock
(206.0
)
 
—

 
—

 
—

 
—

 
(206.0
)
Repayments of debt
—

 
(131.4
)
 
—

 
—

 
—

 
(131.4
)
Borrowings of debt
—

 
338.8

 
—

 
—

 
—

 
338.8

Debt issuance costs
—

 
(1.1
)
 
—

 
—

 
—

 
(1.1
)
Amounts related to share-based compensation
—

 
(5.6
)
 
—

 
—

 
—

 
(5.6
)
Net distributions to parent
206.0

 
(207.3
)
 
1.3

 
—

 
—

 
—

Net cash provided by (required by) financing activities
—

 
(6.6
)
 
1.3

 
—

 
—

 
(5.3
)
Net change in cash, cash equivalents, and restricted cash
—

 
16.1

 
0.1

 
—

 
—

 
16.2

Cash, cash equivalents and restricted cash at January 1
—

 
153.8

 
—

 
—

 
—

 
153.8

Cash, cash equivalents and restricted cash at December 31
$
—

 
$
169.9

 
$
0.1

 
$
—

 
$
—

 
$
170.0

 
 
 
 
 
 
 
 
 
 
 
 
Reconciliation of Cash, Cash Equivalents and Restricted Cash
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at beginning of period
$
—

 
$
153.8

 
$
—

 
$
—

 
$
—

 
$
153.8

Restricted cash at beginning of period
—

 
—

 
—

 
—

 
—

 
—

Cash, cash equivalents and restricted cash at beginning of period
$
—

 
$
153.8

 
$
—

 
$
—

 
$
—

 
$
153.8

 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents at end of period
$
—

 
$
169.9

 
$
0.1

 
$
—

 
$
—

 
$
170.0

Restricted cash at end of period
—

 
—

 
—

 
—

 
—

 
$
—

Cash, cash equivalents and restricted cash at end of period
$
—

 
$
169.9

 
$
0.1

 
$
—

 
$
—

 
$
170.0



Consolidating Statement of Changes in Equity
CONSOLIDATING STATEMENT OF CHANGES IN EQUITY
 
(Millions of dollars)
Year ended December 31, 2019
Statement of Stockholders' Equity
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Common Stock
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2018
$
0.5

 
$
—

 
$
0.1

 
$
—

 
$
(0.1
)
 
$
0.5

Issuance of common stock
—

 
—

 
—

 
—

 
—

 
—

Balance as of December 31, 2019
$
0.5

 
$
—

 
$
0.1

 
$
—

 
$
(0.1
)
 
$
0.5

Treasury Stock
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2018
$
(940.3
)
 
$
—

 
$
—

 
$
—

 
$
—

 
$
(940.3
)
Issuance of treasury stock
6.3

 
—

 
—

 
—

 
—

 
6.3

Purchase of treasury stock
(165.8
)
 
—

 
—

 
—

 
—

 
(165.8
)
Balance as of December 31, 2019
$
(1,099.8
)
 
$
—

 
$
—

 
$
—

 
$
—

 
$
(1,099.8
)
APIC
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2018
$
1,195.1

 
$
572.8

 
$
52.0

 
$
87.5

 
$
(1,368.4
)
 
$
539.0

Issuance of treasury stock
(6.3
)
 
—

 
—

 
—

 
—

 
(6.3
)
Amounts related to share-based compensation
—

 
(4.5
)
 
—

 
—

 
—

 
(4.5
)
Share-based compensation expense
—

 
10.5

 
—

 
—

 
—

 
10.5

Balance as of December 31, 2019
$
1,188.8

 
$
578.8

 
$
52.0

 
$
87.5

 
$
(1,368.4
)
 
$
538.7

Retained Earnings
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2018
$
2,181.8

 
$
172.9

 
$
(0.5
)
 
$
66.8

 
$
(1,212.9
)
 
$
1,208.1

Net income
320.6

 
(11.0
)
 
(0.5
)
 
—

 
(154.3
)
 
154.8

Balance as of December 31, 2019
$
2,502.4

 
$
161.9

 
$
(1.0
)
 
$
66.8

 
$
(1,367.2
)
 
$
1,362.9

AOCI
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2018
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Other comprehensive income
—

 
0.7

 
—

 
—

 
—

 
0.7

Balance as of December 31, 2019
$
—

 
$
0.7

 
$
—

 
$
—

 
$
—

 
$
0.7

CONSOLIDATING STATEMENTS OF CHANGES IN EQUITY
 
(Millions of dollars)
Year ended December 31, 2018
Statement of Stockholders' Equity
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Common Stock
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2017
$
0.5

 
$
—

 
$
0.1

 
$
—

 
$
(0.1
)
 
$
0.5

Issuance of common stock
—

 
—

 
—

 
—

 
—

 
—

Balance as of December 31, 2018
$
0.5

 
$
—

 
$
0.1

 
$
—

 
$
(0.1
)
 
$
0.5

Treasury Stock
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2017
$
(806.5
)
 
$
—

 
$
—

 
$
—

 
$
—

 
$
(806.5
)
Issuance of treasury stock
10.6

 
—

 
—

 
—

 
—

 
10.6

Purchase of treasury stock
(144.4
)
 
—

 
—

 
—

 
—

 
(144.4
)
Balance as of December 31, 2018
$
(940.3
)
 
$
—

 
$
—

 
$
—

 
$
—

 
$
(940.3
)
APIC
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2017
$
1,205.7

 
$
573.1

 
$
52.0

 
$
87.5

 
$
(1,368.4
)
 
$
549.9

Issuance of treasury stock
(10.6
)
 
—

 
—

 
—

 
—

 
(10.6
)
Amounts related to share-based compensation
—

 
(9.4
)
 
—

 
—

 
—

 
(9.4
)
Share-based compensation expense
—

 
9.1

 
—

 
—

 
—

 
9.1

Balance as of December 31, 2018
$
1,195.1

 
$
572.8

 
$
52.0

 
$
87.5

 
$
(1,368.4
)
 
$
539.0

Retained Earnings
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2017
$
994.5

 
$
933.0

 
$
—

 
$
66.8

 
$
(999.8
)
 
$
994.5

Net income
1,187.3

 
(760.1
)
 
(0.5
)
 
—

 
(213.1
)
 
213.6

Balance as of December 31, 2018
$
2,181.8

 
$
172.9

 
$
(0.5
)
 
$
66.8

 
$
(1,212.9
)
 
$
1,208.1

AOCI
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2017
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Other comprehensive income
—

 
—

 
—

 
—

 
—

 
—

Balance as of December 31, 2018
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(Millions of dollars)
Year ended December 31, 2017
Statement of Stockholders' Equity
Parent Company
 
Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Common Stock
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2016
$
0.5

 
$
—

 
$
0.1

 
$
—

 
$
(0.1
)
 
$
0.5

Issuance of common stock
—

 
—

 
—

 
—

 
—

 
—

Balance as of December 31, 2017
$
0.5

 
$
—

 
$
0.1

 
$
—

 
$
(0.1
)
 
$
0.5

Treasury Stock
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2016
$
(608.0
)
 
$
—

 
$
—

 
$
—

 
$
—

 
$
(608.0
)
Issuance of treasury stock
7.5

 
—

 
—

 
—

 
—

 
7.5

Purchase of treasury stock
(206.0
)
 
—

 
—

 
—

 
—

 
(206.0
)
Balance as of December 31, 2017
$
(806.5
)
 
$
—

 
$
—

 
$
—

 
$
—

 
$
(806.5
)
APIC
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2016
$
1,213.1

 
$
571.1

 
$
52.0

 
$
87.5

 
$
(1,368.4
)
 
$
555.3

Issuance of treasury stock
(7.4
)
 
—

 
—

 
—

 
—

 
(7.4
)
Amounts related to share-based compensation
—

 
(5.6
)
 
—

 
—

 
—

 
(5.6
)
Share-based compensation expense
—

 
7.6

 
—

 
—

 
—

 
7.6

Balance as of December 31, 2017
$
1,205.7

 
$
573.1

 
$
52.0

 
$
87.5

 
$
(1,368.4
)
 
$
549.9

Retained Earnings
 

 
 

 
 

 
 

 
 

 
 

Balance as of December 31, 2016
$
749.2

 
$
687.7

 
$
—

 
$
66.8

 
$
(754.5
)
 
$
749.2

Net income
245.3

 
245.3

 
—

 
—

 
(245.3
)
 
245.3

Balance as of December 31, 2017
$
994.5

 
$
933.0

 
$
—

 
$
66.8

 
$
(999.8
)
 
$
994.5

AOCI
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2016
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Other comprehensive income
—

 
—

 
—

 
—

 
—

 
—

Balance as of December 31, 2017
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—