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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income (loss) $ (28,864) $ 9,393
Adjustments to reconcile net income (loss) to cash used in operating activities:    
Depreciation and amortization 141,167 98,396
Bad debt expense 8,049 3,615
Equity in (earnings) losses of affiliates, net of dividends (228) 2,894
(Gain) loss on sales of Rail Group assets and related leases, net (175) (1,515)
Gain (Loss) on Disposition of Assets (862) 101
Stock-based compensation expense 7,742 11,637
Deferred federal income tax 21,917 (11,671)
Inventory write down 10,933 0
Asset impairment 0 3,081
Other 4,141 3,637
Changes in operating assets and liabilities:    
Accounts receivable (1,952) 4,879
Inventories 400,262 405,620
Commodity derivatives (2,574) 29,942
Other assets (34,343) 18,782
Payables and other accrued expenses (329,422) (259,166)
Net cash provided by operating activities 195,791 319,625
Investing Activities    
Acquisition of business, net of cash acquired 0 (149,622)
Purchases of Rail Group assets (26,258) (68,441)
Proceeds from sale of Rail Group assets 7,774 9,182
Purchases of property, plant and equipment and capitalized software (59,414) (125,351)
Proceeds from sale of assets 8,121 851
Proceeds from sale of business 2,467 0
Purchase of investments (2,849) (1,490)
Net cash used in investing activities (70,159) (334,871)
Financing Activities    
Net change in short-term borrowings (44,183) (286,462)
Proceeds from issuance of long-term debt 213,906 811,698
Payments of long-term debt (310,694) (493,886)
Contributions from noncontrolling interest owner 6,493 4,714
Distributions to noncontrolling interest owner (10,322) 0
Payments of debt issuance costs (250) (5,649)
Dividends paid (17,234) (16,571)
Other (4,143) (1,587)
Net cash provided by (used in) financing activities (166,427) 12,257
Effect of exchange rates on cash, cash equivalents and restricted cash (407) 1,695
Decrease in cash, cash equivalents and restricted cash (41,202) (1,294)
Cash, cash equivalents and restricted cash at beginning of period 54,895 22,593
Cash, cash equivalents and restricted cash at end of period $ 13,693 $ 21,299