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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net Income (Loss) $ 279,470 $ (89,383)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation and amortization 74,488 70,046
Debt extinguishment and commitment costs 5,329 8,144
Non-cash interest expense 3,170 4,646
Non-cash lower of cost and net realizable value adjustment (463) (10,595)
Deferred taxes 682 9
Gain on sale of assets, net (170) (64,400)
Stock-based compensation 7,382 6,095
Unrealized (gain) loss on derivative contracts (10,151) 4,710
Net changes in operating assets and liabilities:    
Trade accounts receivable (91,413) (83,528)
Prepaid and other assets (83,483) 5,092
Inventories (124,405) (195,121)
Deferred turnaround expenditures (29,595) (6,300)
Obligations under inventory financing agreements 78,136 178,568
Accounts payable, other accrued liabilities, and operating lease ROU assets and liabilities 260,076 226,611
Net cash provided by operating activities 369,053 54,594
Cash flows from investing activities:    
Capital expenditures (38,058) (21,015)
Proceeds from sale of assets 397 103,371
Net cash provided by (used in) investing activities (37,661) 82,356
Cash flows from financing activities:    
Proceeds from sale of common stock, net of offering costs 0 87,193
Proceeds from borrowings 369,163 126,409
Repayments of borrowings (441,434) (275,108)
Net borrowings on deferred payment arrangements, discretionary draw facilities, and receivable advances 48,211 66,175
Purchase of common stock for retirement (7,330) (1,338)
Payments for debt extinguishment and commitment costs (3,483) (5,618)
Other financing activities, net 351 333
Net cash used in financing activities (34,522) (1,954)
Net increase in cash, cash equivalents, and restricted cash 296,870 134,996
Cash, cash equivalents, and restricted cash at beginning of period 116,221 70,309
Cash, cash equivalents, and restricted cash at end of period 413,091 205,305
Net cash paid for:    
Interest (43,161) (47,653)
Taxes (9) (760)
Non-cash investing and financing activities:    
Accrued capital expenditures 6,280 2,203
ROU assets obtained in exchange for new finance lease liabilities 594 2,658
ROU assets obtained in exchange for new operating lease liabilities 19,014 95,229
ROU assets terminated in exchange for release from operating lease liabilities $ 32,902 $ 800