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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 116,596 $ 54,092
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 91,626 93,800
Asset impairment 0 87,156
Other 15,146 1,347
Changes in operating assets and liabilities:    
Accounts receivable 3,498 406,263
Inventories 278,947 748,118
Commodity derivatives 49,327 99,479
Other current and non-current assets (59,376) 2,048
Payables and other current and non-current liabilities (433,069) (796,216)
Net cash provided by operating activities 62,695 696,087
Investing Activities    
Purchases of property, plant and equipment and capitalized software (93,230) (108,718)
Acquisition of businesses, net of cash acquired (9,561) (24,385)
Insurance proceeds 9,219 0
Proceeds from sale of a business 0 10,318
Other 2,980 5,522
Net cash used in investing activities (90,592) (117,263)
Financing Activities    
Net payments under short-term lines of credit (27,054) (261,152)
Proceeds from issuance of long-term debt 0 100,000
Payments of long-term debt (20,649) (42,734)
Distributions to noncontrolling interest owner (87,325) (44,304)
Dividends paid (19,466) (18,771)
Value of shares withheld for taxes (8,101) (6,627)
Other 0 (2,258)
Net cash used in financing activities (162,595) (275,846)
Effect of exchange rates on cash and cash equivalents 703 (192)
(Decrease) increase in cash and cash equivalents (189,789) 302,786
Cash and cash equivalents at beginning of period 643,854 115,269
Cash and cash equivalents at end of period $ 454,065 $ 418,055