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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 38 Months Ended
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Cash flows from operating activities:          
Net income $ 216,817 $ 276,486 $ 493,303 $ 651,775  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:          
Depreciation and amortization 126,908   248,329 214,720  
Goodwill, Impairment Loss 152,712   152,712 0  
Lower of cost or market inventory valuation adjustment (47,801)   184,545 210,764  
Earnings of equity method investments, inclusive of distributions     0 228  
(Gain) loss on sale of assets     73 (107)  
Deferred income taxes 25,972   58,193 56,550  
Equity-based compensation expense     21,562 17,306  
Change in fair value - derivative instruments     31,454 (17,807)  
(Increase) decrease in current assets:          
Accounts receivable     (72,300) (121,144)  
Inventories     (6,708) 21,255  
Income taxes receivable     (26,835) 24,512  
Prepayments and other     14,020 (6,053)  
Increase (decrease) in current liabilities:          
Accounts payable     292,893 61,425  
Income taxes payable     7,826 72,822  
Accrued liabilities     38,003 35,161  
Turnaround expenditures     (110,273) (76,384)  
Other, net     11,843 4,650  
Net cash provided by (used for) operating activities     969,550 728,145  
Cash flows from investing activities:          
Additions to properties, plants and equipment     (102,717) (117,907)  
Purchase of business, net of cash acquired     (662,665) 0  
Other, net     825 3,399  
Net cash used for investing activities     (782,309) (146,078)  
Cash flows from financing activities:          
Borrowings under credit agreement     175,000 305,500  
Repayments under credit agreement     (156,500) (417,500)  
Proceeds from issuance of common units - HEP     0 114,831 $ 82,300
Purchase of treasury stock     (266,996) (53,743)  
Dividends     (113,508) (117,500)  
Distributions to noncontrolling interest (33,030) (33,673)      
Shares withheld for tax withholding obligations     (783) 0  
Proceeds from (Payments for) Other Financing Activities     (374) (544)  
Net cash used for financing activities     (429,864) (229,715)  
Effect of exchange rate on cash flow     2,515 (3,237)  
Cash and cash equivalents:          
Increase (decrease) for the period     (240,108) 349,115  
Beginning of period   1,154,752 1,154,752    
End of period 914,644   914,644   914,644
Cash paid during the period for:          
Interest     (67,620) (64,711)  
Income taxes, net     (138,587) (48,561)  
HEP          
Cash flows from investing activities:          
Additions to properties, plants and equipment     (17,752) (31,570)  
Cash flows from financing activities:          
Distributions to noncontrolling interest     (66,703) $ (60,759)  
Cash and cash equivalents:          
Beginning of period   $ 3,045 3,045    
End of period $ 6,941   $ 6,941   $ 6,941