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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
[1]
Current assets:    
Cash and cash equivalents $ 1,244.6 $ 856.5
Accounts receivable, net 1,319.4 776.6
Inventories, net of inventory valuation reserves 1,805.9 1,260.7
Other current assets 187.5 126.0
Total current assets 4,557.4 3,019.8
Property, plant and equipment:    
Property, plant and equipment 4,107.1 3,645.4
Less: accumulated depreciation (1,447.1) (1,338.1)
Property, plant and equipment, net 2,660.0 2,307.3
Operating lease right-of-use assets 190.7 208.5
Goodwill 740.0 729.7
Other intangibles, net 325.8 102.7
Equity method investments 354.6 344.1
Other non-current assets 96.1 100.5
Total assets 8,924.6 6,812.6
Current liabilities:    
Accounts payable 2,449.6 1,695.3
Current portion of long-term debt 72.0 92.2
Obligation under Supply and Offtake Agreements 770.5 487.5
Current portion of operating lease liabilities 51.4 53.9
Accrued expenses and other current liabilities 885.6 797.8
Total current liabilities 4,229.1 3,126.7
Non-current liabilities:    
Long-term debt, net of current portion 2,745.7 2,125.8
Environmental liabilities, net of current portion 112.7 109.5
Asset retirement obligations 41.1 38.3
Deferred tax liabilities 300.3 214.5
Operating lease liabilities, net of current portion 131.9 152.0
Other non-current liabilities 26.4 31.8
Total non-current liabilities 3,358.1 2,671.9
Stockholders’ equity:    
Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued and outstanding 0.0 0.0
Common stock, $0.01 par value, 110,000,000 shares authorized, 88,610,583 shares and 91,772,080 shares issued at June 30, 2022 and December 31, 2021, respectively 0.9 0.9
Additional paid-in capital 1,159.1 1,206.5
Accumulated other comprehensive loss (3.9) (3.8)
Treasury stock, 17,575,527 shares, at cost, as of June 30, 2022 and December 31, 2021 (694.1) (694.1)
Retained earnings 753.0 384.7
Non-controlling interests in subsidiaries 122.4 119.8
Total stockholders’ equity 1,337.4 1,014.0
Total liabilities and stockholders’ equity $ 8,924.6 $ 6,812.6
[1] Adjusted to reflect the retrospective change in accounting policy from LIFO to FIFO for certain inventories. See Note 7 for further discussion.