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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net Income $ 29,060 $ 14,887
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 71,298 64,800
Debt extinguishment and commitment costs 25 1,418
Non-cash interest expense 3,084 2,775
Non-cash lower of cost and net realizable value adjustment (2,288) 0
Deferred taxes 8,579 3,530
Loss (gain) on sale of assets, net (1,225) 114
Stock-based compensation 8,022 19,502
Unrealized (gain) loss on derivative contracts (37,523) 64,948
Equity earnings from Laramie Energy, LLC (2,582) (3,203)
Equity earnings from refining and logistics investments (14,819) (9,837)
Dividends received from refining and logistics investments 5,840 9,105
Net changes in operating assets and liabilities:    
Trade accounts receivable 11,447 (114,010)
Prepaid and other assets (4,220) 54,805
Inventories 46,582 (101,270)
Deferred turnaround expenditures (100,508) (42,159)
Obligations under inventory financing agreements (33,204) 3,362
Accounts payable, other accrued liabilities, and operating lease ROU assets and liabilities 144,611 51,988
Net cash provided by operating activities 132,179 20,755
Cash flows from investing activities:    
Capital expenditures (89,059) (59,532)
Proceeds from sale of assets and other 2,271 60
Return of capital from Laramie Energy, LLC 0 1,485
Net cash used in investing activities (86,788) (57,987)
Cash flows from financing activities:    
Proceeds from borrowings 3,306,000 1,857,000
Repayments of borrowings (3,319,617) (1,464,163)
Net borrowings (repayments) of deferred payment arrangements and receivable advances 0 (165,459)
Payment of deferred loan costs (47) (7,234)
Purchase of common stock for retirement (80,835) (103,509)
Proceeds from inventory financing agreements 25,122 203,074
Payments for termination of inventory financing agreements 0 (382,143)
Payments for debt extinguishment and commitment costs (25) (977)
Other financing activities, net 1,288 1,198
Net cash used in financing activities (68,114) (62,213)
Net decrease in cash, cash equivalents, and restricted cash (22,723) (99,445)
Cash, cash equivalents, and restricted cash at beginning of period 192,267 279,446
Cash, cash equivalents, and restricted cash at end of period 169,544 180,001
Net cash paid for:    
Interest (37,904) (27,205)
Taxes (39) (10,857)
Non-cash investing and financing activities:    
Accrued capital expenditures 16,269 17,052
ROU assets obtained in exchange for new finance lease liabilities 471 1,619
ROU assets obtained in exchange for new operating lease liabilities 52,634 42,058
ROU assets terminated in exchange for release from operating lease liabilities $ 23 $ 0