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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income (loss) $ 13,262 $ (51,111)
Adjustments to reconcile net income (loss) to cash used in operating activities:    
Depreciation and amortization 47,504 46,898
Bad debt (recovery) expense, net (1,686) 4,310
Equity in earnings of affiliates, net of dividends (1,794) (129)
Gain on sales of Rail assets and related leases, net (2,635) (645)
Stock-based compensation expense 1,990 2,880
Deferred federal income tax (2) 16,474
Inventory write down 2,479 10,571
Other 2,100 4,001
Changes in operating assets and liabilities:    
Accounts receivable (33,476) (11,737)
Inventories 5,007 122,323
Commodity derivatives (53,295) 1,231
Other assets 16,740 (10,887)
Payables and other accrued expenses (441,921) (362,609)
Net cash used in operating activities (445,727) (228,430)
Investing Activities    
Purchases of Rail assets (2,611) (13,270)
Proceeds from sale of Rail assets 5,383 2,405
Purchases of property, plant and equipment and capitalized software (16,919) (19,307)
Proceeds from sale of assets 385 36
Purchase of investments (2,800) (280)
Other 832 0
Net cash used in investing activities (15,730) (30,416)
Financing Activities    
Net change in short-term borrowings 510,160 251,712
Proceeds from issuance of long-term debt 89,700 90,736
Payments of long-term debt (125,884) (104,913)
Contributions from noncontrolling interest owner 1,960 3,307
Distributions to noncontrolling interest owner 0 (10,298)
Payments of debt issuance costs (1,225) (250)
Dividends paid (5,839) (5,723)
Other (1,110) (994)
Net cash provided by financing activities 467,762 223,577
Effect of exchange rates on cash and cash equivalents (35) 67
Increase (decrease) in cash and cash equivalents 6,270 (35,202)
Cash and cash equivalents at beginning of period 29,123 54,895
Cash and cash equivalents at end of period $ 35,393 $ 19,693