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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 26 Months Ended
Jun. 30, 2018
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Cash flows from operating activities:        
Net income $ 362,913 $ 651,775 $ 36,291  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization 110,379 214,720 201,322  
Long-lived asset impairment 0 0 19,247  
Lower of cost or market inventory valuation adjustment (106,926) (210,764) 95,805  
Earnings of equity method investments, inclusive of distributions   228 594  
(Gain) loss on sale of assets   (107) 679  
Loss on early extinguishment of debt attributable to unamortized discount   0 2,475  
Deferred income taxes 29,164 56,550 7,272  
Equity-based compensation expense   17,306 16,557  
Change in fair value - derivative instruments   (17,807) (5,597)  
(Increase) decrease in current assets:        
Accounts receivable   (121,144) (5,545)  
Inventories   21,255 60,963  
Income taxes receivable   24,512 66,943  
Prepayments and other   (6,053) (9,272)  
Increase (decrease) in current liabilities:        
Accounts payable   61,425 495  
Income taxes payable   72,822 22,340  
Accrued liabilities   35,161 40,141  
Turnaround expenditures   (76,384) (86,036)  
Other, net   4,650 8,724  
Net cash provided by (used for) operating activities   728,145 473,398  
Cash flows from investing activities:        
Additions to properties, plants and equipment   (117,907) (116,526)  
Purchase of PCLI, net of cash acquired   0 (870,627)  
Purchases of marketable securities   0 (41,565)  
Sales and maturities of marketable securities   0 465,716  
Other, net   3,399 3,017  
Net cash used for investing activities   (146,078) (580,509)  
Cash flows from financing activities:        
Borrowings under credit agreement   305,500 505,000  
Repayments under credit agreement   (417,500) (215,000)  
Redemption of senior notes - HEP   0 (309,750)  
Proceeds from issuance of common units - HEP   114,831 52,634 $ 82,300
Purchase of treasury stock   (53,743) 0  
Dividends   (117,500) (117,754)  
Distributions to noncontrolling interest   (60,759)    
Shares withheld for tax withholding obligations   (544) (274)  
Other, net   0 (4,546)  
Net cash used for financing activities   (229,715) (143,466)  
Effect of exchange rate on cash flow   (3,237) 324  
Cash and cash equivalents:        
Increase (decrease) for the period   349,115 (250,253)  
Beginning of period   630,757 710,579  
End of period 979,872 979,872 460,326 979,872
Cash paid during the period for:        
Interest   (64,711) (64,205)  
Income taxes, net   (48,561) 80,348  
HEP        
Cash flows from investing activities:        
Additions to properties, plants and equipment   (31,570) (20,524)  
Cash flows from financing activities:        
Borrowings under credit agreement   500,000    
Distributions to noncontrolling interest   (60,759) $ (53,776)  
Cash and cash equivalents:        
Beginning of period   7,776    
End of period $ 6,656 $ 6,656   $ 6,656