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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Income (loss) before income taxes from continuing operations $ 132,529 $ 154,954 $ 131,542
Income from discontinued operations, net of income taxes 0 12,025 4,324
Net income 132,529 166,979 135,866
Adjustments to reconcile net income to cash provided by (used in) operating activities:      
Depreciation and amortization 125,106 134,742 178,934
Bad debt expense, net 11,519 6,001 237
Stock-based compensation expense 12,857 11,192 11,038
Deferred federal income tax (1,596) (20,009) (104,618)
Gain on sale of business from continuing operations (5,643) 0 (14,619)
Asset impairment 87,156 11,818 8,947
(Gain) loss on sale of business from discontinued operations 0 (27,091) 1,491
Damaged inventory 0 17,328 0
Other (10,698) 14,073 (481)
Changes in operating assets and liabilities:      
Accounts and notes receivable 468,968 (391,403) (184,002)
Inventories 572,235 56,859 (528,073)
Commodity derivatives 111,506 65,399 (107,188)
Other current and non-current assets 6,529 10,936 (116,403)
Payables and other current and non-current liabilities (563,718) 230,293 667,821
Net cash provided by (used in) operating activities 946,750 287,117 (51,050)
Investing Activities      
Acquisition of businesses, net of cash acquired (24,698) (20,245) (11,425)
Purchases of property, plant and equipment and capitalized software (150,443) (108,284) (75,766)
Proceeds from sale of assets 3,506 5,307 4,508
Purchase of investments (1,730) (2,105) (6,243)
Proceeds from sale of business from continuing operations 10,318 5,171 18,130
Proceeds from sale of Rail assets 2,871 36,706 19,150
Proceeds from sale of business from discontinued operations 0 56,302 543,102
Purchases of Rail assets 0 (31,458) (6,039)
Other 6,297 5,704 1,831
Net cash (used in) provided by investing activities (153,879) (52,902) 487,248
Financing Activities      
Net (payments) receipts under short-term lines of credit (233,696) (21,273) (105,895)
Proceeds from issuance of short-term debt 0 350,000 608,250
Payments of short-term debt 0 (550,000) (408,250)
Proceeds from issuance of long-term debt 100,000 0 203,000
Payments of long-term debt (49,620) (30,045) (530,733)
Distributions to noncontrolling interest owner (46,418) (44,910) (25)
Dividends paid (25,373) (24,609) (23,746)
Common stock repurchased (1,747) (12,721) 0
Other (7,139) (1,172) 8,630
Net cash used in financing activities (263,993) (334,730) (248,769)
Effect of exchange rates on cash and cash equivalents (293) (660) (108)
Increase (decrease) in Cash and cash equivalents 528,585 (101,175) 187,321
Cash and cash equivalents at beginning of year 115,269 216,444 29,123
Cash and cash equivalents at end of year $ 643,854 $ 115,269 $ 216,444