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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 65,135 $ 23,569
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 61,218 62,585
Asset impairment 0 87,156
Other 10,821 952
Changes in operating assets and liabilities:    
Accounts receivable 15,284 207,867
Inventories 477,723 734,855
Commodity derivatives 36,010 102,753
Other current and non-current assets (50,587) (1,247)
Payables and other current and non-current liabilities (550,797) (1,011,086)
Net cash provided by operating activities 64,807 207,404
Investing Activities    
Acquisition of businesses, net of cash acquired (9,561) 0
Purchases of property, plant and equipment and capitalized software (55,389) (74,991)
Other 6,812 3,318
Net cash used in investing activities (58,138) (71,673)
Financing Activities    
Net payments under short-term lines of credit (37,705) (173,384)
Proceeds from issuance of long-term debt 0 100,000
Payments of long-term debt (13,752) (35,861)
Distributions to noncontrolling interest owner (47,405) (24,344)
Dividends paid (12,993) (12,527)
Value of shares withheld for taxes (8,071) (6,616)
Other 0 (2,255)
Net cash used in financing activities (119,926) (154,987)
Effect of exchange rates on cash and cash equivalents (211) 280
Decrease in cash and cash equivalents (113,468) (18,976)
Cash and cash equivalents at beginning of period 643,854 115,269
Cash and cash equivalents at end of period $ 530,386 $ 96,293