XML 20 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (137,051) $ (62,227)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation, depletion, and amortization 23,780 22,880
Debt extinguishment and commitment costs 0 1,507
Non-cash interest expense 1,017 1,843
Non-cash lower of cost and net realizable value adjustment (463) (10,595)
Gain on sale of assets, net 0 (64,912)
Stock-based compensation 3,658 1,886
Unrealized (gain) loss on derivative contracts 15,452 (6,922)
Net changes in operating assets and liabilities:    
Trade accounts receivable (40,262) (45,029)
Prepaid and other assets (25,233) 2,867
Inventories (236,664) (139,143)
Deferred turnaround expenditures (28,929) (5,602)
Obligations under inventory financing agreements 201,996 124,393
Accounts payable, other accrued liabilities, and operating lease ROU assets and liabilities 215,014 148,317
Net cash used in operating activities (7,685) (30,737)
Cash flows from investing activities:    
Capital expenditures (16,333) (8,178)
Proceeds from sale of assets 60 102,856
Net cash provided by (used in) investing activities (16,273) 94,678
Cash flows from financing activities:    
Proceeds from sale of common stock, net of offering costs 0 87,401
Proceeds from borrowings 88,163 39,409
Repayments of borrowings (70,059) (86,719)
Net borrowings on deferred payment arrangements, discretionary draw facilities, and receivable advances 41,712 44,542
Purchase of common stock for retirement (6,388) (1,321)
Payments for debt extinguishment and commitment costs 0 (887)
Other financing activities, net (817) 58
Net cash provided by financing activities 52,611 82,483
Net increase in cash, cash equivalents, and restricted cash 28,653 146,424
Cash, cash equivalents, and restricted cash at beginning of period 116,221 70,309
Cash, cash equivalents, and restricted cash at end of period 144,874 216,733
Net cash received (paid) for:    
Interest (11,085) (17,373)
Taxes 0 0
Non-cash investing and financing activities:    
Accrued capital expenditures 6,169 2,295
ROU assets obtained in exchange for new finance lease liabilities 594 1,072
ROU assets obtained in exchange for new operating lease liabilities 10,678 85,426
ROU assets terminated in exchange for release from operating lease liabilities $ 1,029 $ 0