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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities    
Net income (loss) $ (31,078) $ 15,263
Adjustments to reconcile net income (loss) to cash used in operating activities:    
Depreciation and amortization 93,898 64,146
Bad debt expense 6,290 1,703
Equity in earnings of affiliates, net of dividends (209) (1,034)
Gains on sales of Rail Group assets and related leases (569) (1,298)
Gain (Loss) on Disposition of Assets 341 106
Stock-based compensation expense 5,016 7,292
Deferred federal income tax 21,761 5,793
Inventory write down 10,922 0
Asset impairment 0 3,081
Other 2,797 1,102
Changes in operating assets and liabilities:    
Accounts receivable (9,181) (181,917)
Inventories 536,951 394,630
Commodity derivatives 14,980 (82,933)
Other assets (24,784) 27,420
Payables and other accrued expenses (481,624) (338,201)
Net cash provided by (used in) operating activities 145,511 (84,847)
Investing Activities    
Acquisition of business, net of cash acquired 0 (147,693)
Purchases of Rail Group assets (24,649) (43,435)
Proceeds from sale of Rail Group assets 4,637 7,389
Purchases of property, plant and equipment and capitalized software (44,644) (87,209)
Proceeds from sale of assets 1,503 795
Purchase of investments (2,849) (1,240)
Net cash used in investing activities (66,002) (271,393)
Financing Activities    
Net change in short-term borrowings (47,564) (660)
Proceeds from issuance of long-term debt 165,975 748,099
Payments of long-term debt (203,835) (390,528)
Contributions by noncontrolling interest owner 4,409 4,715
Distributions to noncontrolling interest owner (10,298) 0
Payments of debt issuance costs (250) (5,788)
Dividends paid (11,469) (11,041)
Other (2,036) (387)
Net cash (used in) provided by financing activities (105,068) 344,410
Effect of exchange rates on cash, cash equivalents and restricted cash 675 324
Decrease in cash, cash equivalents and restricted cash (24,884) (11,506)
Cash, cash equivalents and restricted cash at beginning of period 54,895 22,593
Cash, cash equivalents and restricted cash at end of period $ 30,011 $ 11,087