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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (72,641) $ (51,122)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 22,387 21,487
Amortization of debt issuance costs and non-cash interest expense 486 609
Inventory lower of cost or net realizable value adjustment 2,519 4,202
Deferred income tax expense 713 233
Stock-based compensation 8,840 3,053
Loss from equity method investees, net of income taxes 850 1,077
Other 1,073 858
Changes in operating assets and liabilities    
Accounts receivable (2,202) 6,890
Inventories 38,360 20,459
Derivative financial instruments (8,082) 7,010
Prepaid expenses and other assets 5,419 (627)
Accounts payable and accrued liabilities (55,815) (65,787)
Current income taxes 140 446
Other 2,912 613
Net cash used in operating activities (55,041) (50,599)
Cash flows from investing activities    
Purchases of property and equipment, net (16,710) (21,795)
Investment in equity method investees, net (4,000) (8,408)
Net cash used in investing activities (20,710) (30,203)
Cash flows from financing activities    
Payments of principal on long-term debt (480) (2,009)
Proceeds from short-term borrowings 182,319 181,430
Payments on short-term borrowings (185,755) (157,570)
Payments on extinguishment of non-controlling interest 0 (29,196)
Payments of transaction costs 0 (5,951)
Payments related to tax withholdings for stock-based compensation (1,372) (4,222)
Other financing activities (1,753) (3,060)
Net cash used in financing activities (7,041) (20,578)
Net change in cash and cash equivalents, and restricted cash (82,792) (101,380)
Cash and cash equivalents, and restricted cash, beginning of period 209,395 378,762
Cash and cash equivalents, and restricted cash, end of period 126,603 277,382
Reconciliation of total cash and cash equivalents, and restricted cash    
Cash and cash equivalents 98,610 237,302
Restricted cash 27,993 40,080
Total cash and cash equivalents, and restricted cash 126,603 277,382
Supplemental disclosures of cash flow    
Cash paid (refunded) for income taxes, net 29 (9)
Cash paid for interest 9,689 8,888
Capital expenditures in accounts payable 5,662 5,413
Capital expenditures in other liabilities 28,509 0
Issuance of common stock as a result of the Merger 0 5
Non-cash extinguishment of non-controlling interest within additional paid-in capital 0 133,765
Non-cash asset retirement obligation additions $ 4,691 $ 568