XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income (loss) $ 3.5 $ (181.3)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash RINs gain (112.4) (1.6)
Unrealized (gain) loss on derivative instruments (9.1) 0.8
Other adjustments to reconcile net income (loss) to cash flow from operating activities 164.5 148.7
Changes in assets and liabilities (54.1) (9.6)
Net cash used in operating activities (7.6) (43.0)
Investing activities    
Additions to property, plant and equipment (39.6) (51.7)
Proceeds from sale of business, net 95.4  
Net cash provided by (used in) investing activities 55.8 (51.7)
Financing activities    
Proceeds from borrowings - revolving credit facility 1,896.4 1,605.6
Repayments of borrowings - revolving credit facility (2,015.4) (1,516.4)
Proceeds from borrowings - MRL revolving credit agreement 26.6 32.0
Repayments of borrowings - MRL revolving credit agreement (26.7) (45.0)
Proceeds from borrowings - senior notes 100.0 200.0
Repayments of borrowings - senior notes (230.0) (229.0)
Proceeds from inventory financing 264.9 550.0
Payments on inventory financing (306.4) (580.0)
Proceeds from DOE Loan 781.8  
Proceeds from other financing obligations 160.0 144.7
Repayments of borrowings - MRL Asset Financing Arrangements (396.1)  
Repayments of borrowings - MRL Term Loan Credit Agreement (86.0)  
Payments on other financing obligations (88.6) (39.6)
Net cash provided by financing activities 80.5 122.3
Net increase in cash, cash equivalents and restricted cash 128.7 27.6
Cash, cash equivalents and restricted cash at beginning of period 45.9 14.7
Cash, cash equivalents and restricted cash at end of period 174.6 42.3
Cash and cash equivalents 94.6 34.6
Restricted cash 80.0 7.7
Supplemental disclosure of cash flow information    
Interest paid, net of capitalized interest 150.9 175.3
Supplemental disclosure of non-cash investing activities    
Non-cash property, plant and equipment additions $ 28.8 $ 29.2