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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities    
Net income $ 35,394 $ 94,678
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 57,365 44,307
Bad debt expense 802 198
Equity in earnings of affiliates, net of dividends (3,868) 8,643
Gain on sale of investments in affiliates 0 (17,055)
Gains on sales of Rail Group assets and related leases (12,438) (14,666)
Excess tax benefit from share-based payment arrangement (1,299) (1,770)
Deferred income taxes 18,921 9,441
Stock-based compensation expense 2,598 7,542
Goodwill impairment expense 1,985 0
Other 1,061 (446)
Changes in operating assets and liabilities:    
Accounts receivable (6,003) 10,161
Inventories 292,960 218,460
Commodity derivatives 16,160 127,655
Other assets (1,465) 11,755
Trade and other payables (344,400) (396,629)
Net cash provided by operating activities 57,773 102,274
Investing Activities    
Acquisition of business, net of cash acquired (124,592) 0
Purchases of Rail Group assets (112,346) (39,294)
Proceeds from sale of Rail Group assets 64,978 30,894
Purchases of property, plant and equipment (42,387) (39,624)
Proceeds from sale of property, plant and equipment 184 1,043
Proceeds from returns of investments in affiliates 1,480 35,920
Cash distributions to noncontrolling interests 0 (1,494)
Investments in affiliates 0 (238)
Change in restricted cash 248 235
Net cash used in investing activities (212,435) (12,558)
Financing Activities    
Net change in short-term borrowings 79,700 0
Proceeds from issuance of long-term debt 152,796 1,787
Payments of long-term debt (87,032) (64,442)
Purchase of treasury stock (49,089) 0
Distributions to noncontrolling interest owner (2,453) 0
Proceeds from sale of treasury shares to employees and directors 447 1,564
Payments of debt issuance costs (271) (3,175)
Dividends paid (12,011) (9,359)
Excess tax benefit from share-based payment arrangement 1,299 1,770
Other (2,770) 0
Net cash provided by (used in) financing activities 80,616 (71,855)
Increase (decrease) in cash and cash equivalents (74,046) 17,861
Cash and cash equivalents at beginning of period 114,704 309,085
Cash and cash equivalents at end of period $ 40,658 $ 326,946