XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income from continuing operations $ 108,904 $ 53,780
Income (loss) from discontinued operations, net of income taxes (1,294) 5,606
Net income 107,610 59,386
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 67,945 95,154
Bad debt expense, net 3,069 (1,156)
Equity in (earnings) losses of affiliates, net of dividends 6,278 (2,639)
Gain on sales of assets, net (10,305) (6,253)
Stock-based compensation expense 4,708 4,112
Deferred federal income tax (13,755) 170
Other 8,549 5,570
Changes in operating assets and liabilities:    
Accounts receivable (289,196) (58,338)
Inventories 186,685 390,506
Commodity derivatives (189,090) (250,691)
Other current and non-current assets 5,106 35,568
Payables and other current and non-current liabilities (609,403) (516,883)
Net cash used in operating activities (721,799) (245,494)
Investing Activities    
Purchases of property, plant and equipment and capitalized software (43,472) (34,264)
Proceeds from sale of assets 4,672 3,794
Purchases of investments (2,105) (4,701)
Purchases of Rail assets (27,276) (4,751)
Proceeds from sale of Rail assets 36,341 15,616
Other 1,746 832
Net cash used in investing activities (30,094) (23,474)
Financing Activities    
Net receipts (payments) under short-term lines of credit 862,698 (258,157)
Proceeds from issuance of short-term debt 350,000 608,250
Payments of short-term debt (550,000) 0
Proceeds from issuance of long-term debt 0 108,300
Payments of long-term debt (15,077) (177,586)
Contributions from noncontrolling interest owner 2,450 2,940
Distributions to noncontrolling interest owner (9,980) (25)
Payments of debt issuance costs (7,802) (2,059)
Dividends paid (12,245) (11,677)
Proceeds from exercises of stock options 5,024 0
Other (2,955) (2,436)
Net cash provided by financing activities 622,113 267,550
Effect of exchange rates on cash and cash equivalents (629) (167)
Decrease in cash and cash equivalents (130,409) (1,585)
Cash and cash equivalents at beginning of period 216,444 29,123
Cash and cash equivalents at end of period $ 86,035 $ 27,538