XML 24 R6.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended 17 Months Ended
Sep. 30, 2018
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2020
Cash flow from operating activities:          
Net income $ 854,219 $ 434,374 $ 744,602 $ 854,219  
Adjustments to reconcile net income to cash provided by operations:          
Depreciation and amortization   62,963 61,819 66,413  
Related party Tax Receivable Agreement (benefit) expense   (21,090) 3,393 86,478  
Deferred income tax provision   20,241 17,503 (37,078)  
Loss on extinguishment of debt   8,329 0 23,827  
Non-cash interest expense   6,192 6,344 5,320  
Other charges, net   10,526 21,831 15,761  
Net change in working capital*   86,438 (47,687) (177,754)  
Repayments Of Related Party Payable   (27,857) 0 0  
Change in long-term assets and liabilities   (16,470) (2,489) (583)  
Net cash provided by operating activities   563,646 805,316 836,603  
Cash flow from investing activities:          
Capital expenditures   (36,075) (64,103) (68,221)  
Proceeds from the sale of fixed assets   379 219 926  
Net cash used in investing activities   (35,696) (63,884) (67,295)  
Cash flow from financing activities:          
Short-term debt (reductions) borrowings, net   (146) 0 (12,607)  
Credit Facility reductions   0 0 (45,692)  
Refinancing fees and debt issuance costs   (6,278) 0 (27,326)  
Proceeds from Issuance of Secured Debt   500,000 0 2,235,000  
Repayment of 2012 Senior Notes   0 0 (304,782)  
Related Party Stock Repurchase   0 (250,000) (225,000)  
Repurchase of common stock - non-related party   (30,099) (10,868) 0 $ (41,000)
Payment, Tax Withholding, Share-based Payment Arrangement   (71) 0 0  
Principal payments on long-term debt   (896,214) (350,140) (56,372)  
Payments of Dividends   (8,603) (20,613) (55,616)  
Payment Of Dividends- Related Party   (22,272) (78,010) (1,488,649)  
Repayments of Related Party Debt   0 0 (750,000)  
Net cash used in financing activities   (463,683) (709,631) (731,044)  
Net change in cash and cash equivalents   64,267 31,801 38,264  
Effect of exchange rate changes on cash and cash equivalents   240 (746) (1,749)  
Cash and cash equivalents at beginning of period $ 13,365 80,935 49,880 13,365  
Cash and cash equivalents at end of period   145,442 80,935 49,880 $ 145,442
Supplemental disclosures of cash flow information:          
Interest   86,962 121,075 108,006  
Income taxes   73,971 99,278 21,444  
Non-cash financing activities:          
Dividend payable - Promissory Note** [1]   0 0 750,000  
Decrease (increase) in current assets:          
Accounts and notes receivable, net   63,557 (404) (139,180)  
Inventories   44,633 (21,549) (126,355)  
Prepaid expenses and other current assets   3,028 3,929 7,116  
Increase (Decrease) in Income Taxes Payable   (12,420) (18,174) 67,054  
Accounts payable and accruals   (12,790) (11,551) 15,724  
Interest payable   430 62 (2,113)  
Net change in working capital*   $ 86,438 $ (47,687) $ (177,754)  
[1] During the second quarter of 2018, we declared a $750 million dividend in the form of a Promissory Note that was a non-cash transaction. See Note 5 "Debt and Liquidity" for details.