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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income (loss) from continuing operations $ 66,069 $ (32,088)
Income from discontinued operations, net of income taxes 7,453 3,224
Net income (loss) 73,522 (28,864)
Adjustments to reconcile net income (loss) to cash (used in) provided by operating activities:    
Depreciation and amortization 142,137 141,167
Bad debt (recovery) expense, net (2,182) 8,049
Equity in earnings of affiliates, net of dividends (2,389) (228)
Gain on sale of business from continuing operations (14,619) 0
Loss on sale of business from discontinued operations 1,491 0
Gain on sales of assets, net (6,505) (1,037)
Stock-based compensation expense 6,727 7,742
Deferred federal income tax (93,725) 21,917
Inventory write down 3,399 10,933
Other 7,005 4,141
Changes in operating assets and liabilities:    
Accounts receivable (89,902) (1,952)
Inventories 266,865 400,262
Commodity derivatives (158,741) (2,574)
Other assets (3,357) (34,343)
Payables and other accrued expenses (10,659) (329,422)
Net cash provided by operating activities 119,067 195,791
Investing Activities    
Purchases of property, plant and equipment and capitalized software (52,730) (59,414)
Proceeds from sale of assets 3,999 8,121
Purchases of investments (5,993) (2,849)
Proceeds from sale of business from continuing operations 18,130 2,467
Proceeds from sale of business from discontinued operations 543,102 0
Purchases of Rail assets (6,039) (26,258)
Proceeds from sale of Rail assets 18,705 7,774
Other 349 0
Net cash provided by (used in) investing activities 519,523 (70,159)
Financing Activities    
Net payments under lines of credit (324,279) (44,183)
Proceeds from issuance of short-term debt 608,250 0
Payments of short-term debt (408,250) 0
Proceeds from issuance of long-term debt 186,800 213,906
Payments of long-term debt (485,527) (310,694)
Contributions from noncontrolling interest owner 4,655 6,493
Distributions to noncontrolling interest owner (25) (10,322)
Payments of debt issuance costs (2,059) (250)
Dividends paid (17,503) (17,234)
Other (12,709) (4,143)
Net cash used in financing activities (450,647) (166,427)
Effect of exchange rates on cash and cash equivalents (192) (407)
Increase (decrease) in cash and cash equivalents 187,751 (41,202)
Cash and cash equivalents at beginning of period 29,123 54,895
Cash and cash equivalents at end of period $ 216,874 $ 13,693