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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net income (loss) $ (14,148) $ (1,982)
Adjustments to reconcile net income (loss) to cash used in operating activities:    
Depreciation and amortization 33,760 22,679
Bad debt expense (recovery) 318 (531)
Equity in (earnings) losses of affiliates, net of dividends (1,465) (2,360)
Gains on sale of Rail Group assets and related leases (736) (2,280)
Loss (gain) on sale of assets 143 277
Stock-based compensation expense 4,799 1,268
Deferred federal income tax (5,640) 0
Other 4,385 (70)
Changes in operating assets and liabilities:    
Accounts receivable (79,295) (30,730)
Inventories 124,741 (85,262)
Commodity derivatives (9,149) (45,775)
Other assets 11,337 1,134
Payables and other accrued expenses (191,095) (235,075)
Net cash provided by (used in) operating activities (122,045) (378,707)
Investing Activities    
Acquisition of business, net of cash acquired (147,343) 0
Purchases of Rail Group assets (15,873) (29,516)
Proceeds from sale of Rail Group assets 1,948 14,575
Purchases of property, plant and equipment and capitalized software (44,728) (29,414)
Proceeds from sale of assets 400 6
Purchase of investments (240) 0
Net cash provided by (used in) investing activities (205,836) (44,349)
Financing Activities    
Net change in short-term borrowings 9,942 467,000
Proceeds from issuance of long-term debt 693,761 50,000
Payments of long-term debt (361,067) (106,515)
Proceeds from noncontrolling interest owner 4,715 14,700
Payments of debt issuance costs (5,788) (787)
Dividends paid (5,515) (4,650)
Other 2 (114)
Net cash provided by (used in) financing activities 336,050 419,634
Effect of exchange rates on cash and cash equivalents (771) 0
Increase (Decrease) in cash and cash equivalents 7,398 (3,422)
Cash and cash equivalents at beginning of period 22,593 34,919
Cash and cash equivalents at end of period $ 29,991 $ 31,497