XML 16 R5.htm IDEA: XBRL DOCUMENT v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 61,092 $ 15,185
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Depreciation, depletion, and amortization 20,957 13,037
Debt extinguishment and commitment costs 5,496 0
Non-cash interest expense 2,574 1,864
Change in value of common stock warrants 1,282 (745)
Deferred taxes (65,129) 31
Stock-based compensation 1,535 1,439
Unrealized (gain) loss on derivative contracts 5,255 (846)
Equity earnings from Laramie Energy, LLC (301) (5,576)
Net changes in operating assets and liabilities:    
Trade accounts receivable (71,361) (6,086)
Prepaid and other assets (58,309) (79,117)
Inventories (80,518) 53,484
Obligations under inventory financing agreements 82,870 (1,494)
Accounts payable and other accrued liabilities 37,799 21,465
Net cash provided by (used in) operating activities (56,758) 12,641
Cash flows from investing activities:    
Acquisitions of businesses, net of cash acquired (271,065) (74,680)
Capital expenditures (17,864) (9,612)
Other investing activities 188 0
Net cash used in investing activities (288,741) (84,292)
Cash flows from financing activities:    
Proceeds from borrowings 383,006 25,000
Repayments of borrowings (89,038) (27,655)
Net borrowings on deferred payment arrangements and receivable advances 56,967 21,544
Payment of deferred loan costs (13,293) (72)
Payments for commitment costs (6,188) 0
Other financing activities, net (734) (543)
Net cash provided by financing activities 330,720 18,274
Net decrease in cash, cash equivalents, and restricted cash (14,779) (53,377)
Cash, cash equivalents, and restricted cash at beginning of period 75,819 119,077
Cash, cash equivalents, and restricted cash at end of period 61,040 65,700
Net cash received (paid) for:    
Interest paid (3,389) 3,219
Taxes 0 0
Non-cash investing and financing activities:    
Accrued capital expenditures 9,457 1,466
Common stock issued for business combination $ 36,980 $ 0