v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (117.1) $ (202.1)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 75.7 76.1
Gain on derivatives (59.5) (45.1)
Deferred income taxes 0.3 0.9
Gains on investments in Hycroft (18.0) (2.8)
Amortization of net discount on corporate borrowings to interest expense 4.1 4.2
Amortization of deferred financing costs to interest expense 5.0 1.9
PIK interest expense 15.4 8.6
Non-cash portion of stock-based compensation 7.3 5.7
Equity in earnings from non-consolidated entities, net of distributions (0.7) 0.1
Lease incentives 17.8 4.2
Non-cash rent benefit (29.3) (26.8)
Net periodic pension cost 0.5 0.3
Change in assets and liabilities:    
Receivables 55.2 73.9
Other assets (1.7) (14.4)
Accounts payable (92.0) (134.4)
Accrued expenses and other liabilities 1.4 (109.5)
Other, net 7.1 (10.8)
Net cash used in operating activities (128.5) (370.0)
Cash flows from investing activities:    
Capital expenditures (46.2) (47.0)
Proceeds from disposition of long-term assets 1.0  
Proceeds from sale of Hycroft common shares 29.7  
Other, net   0.1
Net cash used in investing activities (15.5) (46.9)
Cash flows from financing activities:    
Net proceeds from equity issuances 63.4 169.6
Principal payments under finance lease obligations (1.2) (0.8)
Scheduled principal payments under term loan borrowings (5.0) (5.0)
Repurchase of Senior Subordinated Notes due 2025   (1.3)
Cash used to pay deferred financing costs (4.2) (0.1)
Taxes paid for restricted unit withholdings (3.7) (4.4)
Net cash provided by financing activities 49.3 158.0
Effect of exchange rate changes on cash and cash equivalents and restricted cash (1.7) 5.8
Net decrease in cash and cash equivalents and restricted cash (96.4) (253.1)
Cash and cash equivalents and restricted cash at beginning of period 477.3 680.8
Cash and cash equivalents and restricted cash at end of period 380.9 427.7
Cash paid during the period for:    
Interest 69.2 92.9
Income taxes paid, net 1.1 0.9
Schedule of non-cash activities:    
Construction payables at period end 30.4 $ 28.5
Consent fees paid with shares of Common Stock 34.5  
Other third-party equity issuance costs payable $ 0.6