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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income (loss) $ (181.3) $ 96.1
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Non-cash RINs gain (1.6) (134.0)
Unrealized (gain) loss on derivative instruments 0.8 (18.8)
Other non-cash activities 148.7 145.9
Changes in assets and liabilities (9.6) (96.6)
Net cash used in operating activities (43.0) (7.4)
Investing activities    
Additions to property, plant and equipment (51.7) (240.3)
Net cash used in investing activities (51.7) (240.3)
Financing activities    
Proceeds from borrowings - revolving credit facility 1,605.6 1,585.6
Repayments of borrowings - revolving credit facility (1,516.4) (1,618.5)
Proceeds from borrowings - MRL revolving credit agreement 32.0 79.0
Repayments of borrowings - MRL revolving credit agreement (45.0) (79.0)
Proceeds from borrowings - senior notes 200.0 325.0
Repayments of borrowings - senior notes (229.0) (121.0)
Proceeds from inventory financing 550.0 1,229.3
Payments on inventory financing (580.0) (1,235.2)
Proceeds from other financing obligations 144.7 101.5
Payments on other financing obligations (39.6) (33.8)
Net cash provided by financing activities 122.3 232.9
Net increase (decrease) in cash, cash equivalents and restricted cash 27.6 (14.8)
Cash, cash equivalents and restricted cash at beginning of period 14.7 35.2
Cash, cash equivalents and restricted cash at end of period 42.3 20.4
Cash and cash equivalents 34.6 13.7
Restricted cash 7.7 6.7
Supplemental disclosure of non-cash investing activities    
Non-cash property, plant and equipment additions $ 29.2 $ 31.7