XML 23 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (51,122) $ (66,249)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 21,487 25,386
Amortization of debt issuance costs and non-cash interest expense 609 717
Inventory lower of average cost or net realizable value adjustment 4,202 0
Deferred income tax expense 233 3,491
Stock-based compensation 3,053 2,828
Loss (income) from equity method investees 1,077 (104)
Other 858 1,625
Changes in operating assets and liabilities    
Accounts receivable 6,890 2,064
Inventories 20,459 (757)
Derivative financial instruments 7,010 10,287
Prepaid expenses and other assets (627) (3,215)
Accounts payable and accrued liabilities (65,787) (94,131)
Current income taxes 446 452
Other 613 638
Net cash used in operating activities (50,599) (116,968)
Cash flows from investing activities    
Purchases of property and equipment, net (21,795) (32,591)
Investment in equity method investees, net (8,408) (2,829)
Net cash used in investing activities (30,203) (35,420)
Cash flows from financing activities    
Payments of principal on long-term debt (2,009) (515)
Proceeds from short-term borrowings 181,430 359,908
Payments on short-term borrowings (157,570) (285,231)
Payments on extinguishment of non-controlling interest (29,196) 0
Payments of transaction costs (5,951) 0
Payments of dividends and distributions 0 (5,305)
Payments related to tax withholdings for stock-based compensation (4,222) (8,402)
Other financing activities (3,060) 0
Net cash provided by (used in) financing activities (20,578) 60,455
Net change in cash and cash equivalents, and restricted cash (101,380) (91,933)
Cash and cash equivalents, and restricted cash, beginning of period 378,762 500,276
Cash and cash equivalents, and restricted cash, end of period 277,382 408,343
Reconciliation of total cash and cash equivalents, and restricted cash    
Cash and cash equivalents 237,302 354,204
Restricted cash 40,080 54,139
Total cash and cash equivalents, and restricted cash 277,382 408,343
Supplemental disclosures of cash flow    
Cash refunded for income taxes, net (9) (189)
Cash paid for interest 8,888 10,093
Capital expenditures in accounts payable 5,413 5,481
Issuance of common stock as a result of the Merger 5 0
Non-cash extinguishment of non-controlling interest within additional paid-in capital $ 133,765 $ 0