XML 35 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net income (loss) $ (16,045) $ 45,788
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,112 22,011
Allowance for doubtful accounts 90 123
Amortization of deferred financing costs 1,910 907
Amortization of original issue discount 133 121
Amortization of original issue premium (886)  
Deferred income taxes (5,309) 3,760
Loss on disposition of assets 566 639
Loss on extinguishment of debt   1,908
Share-based compensation 4,036 19,101
Unrealized loss on derivatives, net 128,167 3,258
Changes in assets and liabilities:    
Accounts receivable (63,521) (33,942)
Inventories 46,114 (147,904)
Prepaid expenses and other current assets (13,762) (16,954)
Insurance receivable (4) (8,600)
Business interruption insurance proceeds   2,315
Other long-term assets (114) (577)
Accounts payable 49,797 73,157
Accrued income taxes (4,924) 15,158
Deferred revenue 7,003 8,041
Other current liabilities 21,184 (4,101)
Accrued environmental liabilities (96) (208)
Other long-term liabilities (112) 51
Net cash (used in) provided by operating activities 186,339 (15,948)
Cash flows from investing activities:    
Capital expenditures (59,525) (7,337)
Proceeds from sale of assets 149 19
Insurance proceeds for UAN reactor rupture   225
Net cash used in investing activities (59,376) (7,093)
Cash flows from financing activities:    
Principal payments on long-term debt (49)  
Payment of capital lease obligations (196) (4,796)
Payment of financing costs (1,142) (4,701)
Deferred costs of CVR Partners' initial public offering   (1,615)
Distribution to CVR Partners' noncontrolling interest holders (13,001)  
Net cash used in financing activities (14,388) (11,112)
Net cash increase (decrease) in cash and cash equivalents 112,575 (34,153)
Cash and cash equivalents, beginning of period 388,328 200,049
Cash and cash equivalents, end of period 500,903 165,896
Supplemental disclosures    
Cash paid for income taxes, net of refunds (received) 485 8,200
Cash paid for interest net of capitalized interest of $2,009,and $86 in 2012 and 2011, respectively 2,420 680
Cash funding of margin account for other derivative activities, net of withdrawals (3,077) 9,237
Non-cash investing and financing activities:    
Accrual of construction in progress additions $ (8,253) $ (2,304)