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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income from continuing operations $ 6,504 $ 9,755
Income (loss) from discontinued operations, net of income taxes (554) 3,507
Net income 5,950 13,262
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 34,377 47,504
Bad debt expense, net 1,255 (1,686)
Equity in (earnings) losses of affiliates, net of dividends 244 (1,794)
Gain on sales of assets, net (81) (2,635)
Stock-based compensation expense 1,818 1,990
Deferred federal income tax (6,947) (2)
Other 2,885 4,579
Changes in operating assets and liabilities:    
Accounts receivable (215,012) (33,476)
Inventories (136,820) 5,007
Commodity derivatives (277,761) (53,295)
Other current and non-current assets (38,810) 16,740
Payables and other current and non-current liabilities (446,096) (441,921)
Net cash used in operating activities (1,074,998) (445,727)
Investing Activities    
Purchases of property, plant and equipment and capitalized software (20,722) (16,919)
Proceeds from sale of assets 72 385
Purchases of investments (1,333) (2,800)
Purchases of Rail assets (3,186) (2,611)
Proceeds from sale of Rail assets 248 5,383
Other 0 832
Net cash used in investing activities (24,921) (15,730)
Financing Activities    
Net receipts under short-term lines of credit 796,209 260,160
Proceeds from issuance of short-term debt 350,000 250,000
Payments of short-term debt (200,000) 0
Proceeds from issuance of long-term debt 0 89,700
Payments of long-term debt (7,566) (125,884)
Contributions from noncontrolling interest owner 2,450 1,960
Distributions to noncontrolling interest owner (9,980) 0
Payments of debt issuance costs (7,310) (1,225)
Dividends paid (6,144) (5,839)
Proceeds from exercises of stock options 5,024 0
Other (2,926) (1,110)
Net cash provided by financing activities 919,757 467,762
Effect of exchange rates on cash and cash equivalents 99 (35)
Increase (decrease) in cash and cash equivalents (180,063) 6,270
Cash and cash equivalents at beginning of period 216,444 29,123
Cash and cash equivalents at end of period $ 36,381 $ 35,393