XML 29 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 107,380 $ 104,088
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 71,906 69,417
Non-cash lease expense 5,689 7,407
Amortization of marketing contract intangible 4,206 5,408
Amortization of deferred revenue (2,055) (1,331)
Amortization of deferred financing costs and debt discount 3,955 3,476
Income from equity method investments (31,974) (22,897)
Dividends from equity method investments 28,309 24,118
Loss on extinguishment of debt 3,571 0
Other non-cash adjustments (4,015) 2,312
Changes in assets and liabilities:    
Accounts receivable (399) 21,430
Inventories and other current assets (332) (2,290)
Accounts payable and other current liabilities (5,982) (29,180)
Accounts receivable/payable to related parties (30,625) (73,144)
Net investment in leases - affiliate 6,168
Non-current assets and liabilities, net 639 1,816
Net cash provided by operating activities 156,441 110,630
Cash flows from investing activities:    
Asset acquisitions from Delek Holdings (83,903) 0
Purchases of property, plant and equipment (83,008) (58,564)
Proceeds from sales of property, plant and equipment 10,191 1,036
Purchases of intangible assets (1,690) (2,583)
Business combination (159,495) 0
Distributions from equity method investments 3,377 4,477
Net cash used in investing activities (314,528) (55,634)
Cash flows from financing activities:    
Distributions to common unitholders - public (37,987) (28,695)
Distributions to common unitholders - Delek Holdings (110,092) (105,679)
Proceeds from term debt 1,059,000 0
Payments on term debt (531,250) (11,250)
Proceeds from revolving facility 1,021,600 304,500
Payments on revolving facility (1,347,200) (213,800)
Proceeds from issuance of units 132,202 0
Payments on other financing agreements (6,214) 0
Deferred financing costs paid (18,154) (1,669)
Other financing activities (256) (2,191)
Net cash provided by (used in) financing activities 161,649 (58,784)
Net increase (decrease) in cash and cash equivalents 3,562 (3,788)
Cash and cash equivalents at the beginning of the period 3,755 7,970
Cash and cash equivalents at the end of the period 7,317 4,182
Cash paid during the period for:    
Interest expense 95,267 89,524
Income taxes 0 20
Non-cash investing activities:    
Equity attributable to W2W Holdings Acquisition (62,783) 0
Forgiveness of related party receivable in connection with W2W Holdings Acquisition 60,000 0
Preferred units issued in connection with H2O Acquisition 70,000 0
Increase in accrued capital expenditures 7,542 10,084
Non-cash financing activities:    
Non-cash lease liability arising from obtaining right of use assets during the period $ 1,398 $ 4,764