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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 298.2 $ 247.5 [1],[2],[3]
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 146.7 146.4 [2]
Other amortization/accretion 7.1 6.7
Non-cash lease expense 29.6  
Deferred income taxes 26.3 (29.2) [2]
Income from equity method investments (28.4) (6.9) [1],[2],[3]
Dividends from equity method investments 11.7 5.2 [2]
Loss on disposal of assets 3.8 1.3 [2]
Loss on extinguishment of debt 0.0 9.1 [1],[2],[3]
Gain on sale of business 0.0 (13.2) [1],[2],[3]
Impairment of assets held for sale 0.0 27.5 [1],[2],[3]
Equity-based compensation expense 19.2 15.6 [2]
Income tax benefit of equity-based compensation (2.0) 0.0 [2]
Loss from discontinued operations 0.8 8.5 [1],[2],[3]
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (319.4) (112.7) [2]
Inventories and other current assets (211.5) (78.7) [2]
Fair value of derivatives (12.8) (64.1) [2]
Accounts payable and other current liabilities 474.3 50.5 [2]
Obligation under Supply and Offtake Agreement 46.4 32.2 [2]
Non-current assets and liabilities, net (41.6) (14.4) [2]
Cash provided by operating activities - continuing operations 448.4 231.3 [2]
Cash used in operating activities - discontinued operations 0.0 (30.1) [2]
Net cash provided by operating activities 448.4 201.2 [2]
Cash flows from investing activities:    
Equity method investment contributions (214.0) (0.2) [2]
Distribution from equity method investments 0.8 1.0 [2]
Purchases of property, plant and equipment (305.7) (228.0) [2]
Purchase of intangible assets (0.8) (1.7) [2]
Proceeds from sale of property, plant and equipment 0.3 5.4 [2]
Proceeds from sale of retail stores 9.9 0.0 [2]
Proceeds from sale of business 0.0 110.8 [2]
Proceeds from sales of discontinued operations 0.0 55.5 [2]
Cash used in investing activities - continuing operations (509.5) (57.2) [2]
Cash provided by investing activities - discontinued operations 0.0 20.0 [2]
Net cash used in investing activities (509.5) (37.2) [2]
Cash flows from financing activities:    
Proceeds from long-term revolvers 1,278.4 1,749.1 [2]
Payments on long-term revolvers (1,278.9) (1,227.8) [2]
Proceeds from term debt 246.8 690.6 [2]
Payments on term debt (31.5) (824.6) [2]
Proceeds from product financing agreements 40.8 0.0 [2]
Repayments of product financing agreements (22.2) (72.4) [2]
Taxes paid due to the net settlement of equity-based compensation (8.4) (10.8) [2]
Repurchase of common stock (147.8) (207.4) [2]
Distribution to non-controlling interest (23.8) (21.5) [2]
Dividends paid (64.3) (58.8) [2]
Deferred financing costs paid (0.9) (13.2) [2]
Cash (used in) provided by financing activities - continuing operations (11.8) 3.2 [2]
Cash provided by (used in) financing activities - discontinued operations 0.0 0.0 [2]
Net cash (used in) provided by financing activities (11.8) 3.2 [2]
Net (decrease) increase in cash and cash equivalents (72.9) 167.2 [2]
Cash and cash equivalents at the beginning of the period 1,079.3 941.9 [2]
Cash and cash equivalents of continuing operations at the end of the period 1,006.4 1,109.1 [2]
Cash paid during the period for:    
Interest, net of capitalized interest 88.3 87.2
Income taxes 73.3 53.3
Non-cash investing activities:    
Common stock issued in connection with the buyout of Alon Partnership non-controlling interest 0.0 127.0
Increase (decrease) in accrued capital expenditures 19.1 (17.1)
Non-cash financing activities:    
Non-cash lease liability arising from recognition of right of use assets upon adoption of ASU 2016-02 211.0  
Non-cash lease liability arising from obtaining right of use assets during the period 9.6  
Common Stock Issued In Settlement Of Convertible Notes 0.0 123.9
Treasury Stock Received During Exercise Of Call Options $ 0.0 (123.9)
Footnote:    
Deferred Tax Expense, Additional Expense Recorded For Correction   $ 5.5
[1]
Income tax expense for the nine months ended September 30, 2018 reflects a correction made in our 2018 Annual Report on Form 10-K (as originally filed on March 1, 2019) to record additional deferred tax expense totaling $5.5 million related to the recognition of a valuation allowance on deferred tax assets recognized in connection with the Big Spring Logistic Assets Acquisition (see Note 5) not previously reported in our September 30, 2018 Quarterly Report on Form 10-Q filed on November 09, 2018. Such amount is not considered material to the financial statements or the trend of earnings for that period. See Note 23 to our annual audited consolidated financial statements included in Part II, Item 8 of our 2018 Annual Report on Form 10-K, as amended and filed on June 27, 2019, for further discussion.
[2]
Net income and deferred income taxes for the nine months ended September 30, 2018 reflects a correction made in our 2018 Annual Report on Form 10-K (as originally filed on March 1, 2019) to record additional deferred tax expense totaling $5.5 million related to the recognition of a valuation allowance on deferred tax assets recognized in connection with the Big Spring Logistic Assets Acquisition (see Note 5) not previously reported in our September 30, 2018 Quarterly Report on Form 10-Q filed on November 09, 2018. Such amount is not considered material to the financial statements or the trend of earnings for that period. See Note 23 to our annual audited consolidated financial statements included in Part II, Item 8 of our 2018 Annual Report on Form 10-K, as amended and filed on June 27, 2019, for further discussion.
[3]
Net revenues and cost of materials and other for the three and nine months ended September 30, 2018 reflect a correction of an intercompany elimination which resulted in an increase in those accounts of $273.7 million and $347.1 million, respectively, not previously reflected on the unaudited consolidated financial statements in our September 30, 2018 Quarterly Report on Form 10-Q filed on November 9, 2018. Such amounts are not considered material to the financial statements and had no impact to operating income or net income for those periods. See Note 23 to our annual audited consolidated financial statements included in Part II, Item 8 of our 2018 Annual Report on Form 10-K, as amended and filed on June 27, 2019, for further discussion.