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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net Income (Loss) $ 237,890 $ (137,051)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation and amortization 24,360 23,780
Debt extinguishment and commitment costs 17,720 0
Non-cash interest expense 898 1,017
Non-cash lower of cost and net realizable value adjustment 0 (463)
Deferred taxes 67 0
Stock-based compensation 2,317 3,658
Unrealized (gain) loss on derivative contracts (13,670) 15,452
Equity earnings from Laramie Energy, LLC (10,706) 0
Net changes in operating assets and liabilities:    
Trade accounts receivable (24,906) (40,262)
Prepaid and other assets 21,084 (25,233)
Inventories 112,340 (236,664)
Deferred turnaround expenditures 0 (28,929)
Obligations under inventory financing agreements (43,910) 201,996
Accounts payable, other accrued liabilities, and operating lease ROU assets and liabilities (184,389) 215,014
Net cash provided by (used in) operating activities 139,095 (7,685)
Cash flows from investing activities:    
Capital expenditures (13,213) (16,333)
Proceeds from sale of assets and other 50 60
Return of capital from Laramie Energy, LLC 10,706 0
Net cash used in investing activities (2,457) (16,273)
Cash flows from financing activities:    
Proceeds from borrowings 541,750 88,163
Repayments of borrowings (521,256) (70,059)
Net borrowings on deferred payment arrangements and receivable advances 22,407 41,712
Payment of deferred loan costs (4,210) (817)
Purchase of common stock for retirement (2,569) (6,388)
Exercise of stock options 6,374 0
Payments for debt extinguishment and commitment costs (8,742) 0
Net cash provided by financing activities 33,754 52,611
Net increase in cash, cash equivalents, and restricted cash 170,392 28,653
Cash, cash equivalents, and restricted cash at beginning of period 494,926 116,221
Cash, cash equivalents, and restricted cash at end of period 665,318 144,874
Net cash paid for:    
Interest (20,042) (11,085)
Taxes (454) 0
Non-cash investing and financing activities:    
Accrued capital expenditures 4,328 6,169
ROU assets obtained in exchange for new finance lease liabilities 731 594
ROU assets obtained in exchange for new operating lease liabilities 8,380 10,678
ROU assets terminated in exchange for release from finance lease liabilities 0 0
ROU assets terminated in exchange for release from operating lease liabilities $ 0 $ 1,029