v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income $ 29,332 $ 5,331
Adjustments to reconcile net income to cash used in operating activities:    
Depreciation and amortization 34,112 34,340
Other 4,701 17,303
Changes in operating assets and liabilities:    
Accounts receivable (120,542) (53,268)
Inventories (34,986) 38,531
Commodity derivatives (13,235) 1,076
Other current and non-current assets (22,535) (8,558)
Payables and other current and non-current liabilities (270,522) (384,775)
Net cash used in operating activities (393,675) (350,020)
Investing Activities    
Purchases of property, plant and equipment and capitalized software (51,712) (46,548)
Other 2,248 2,717
Net cash used in investing activities (49,464) (43,831)
Financing Activities    
Net proceeds under short-term lines of credit 467,584 56,044
Proceeds from issuance of long-term debt 86,250 14,700
Payments of long-term debt (116,774) (8,416)
Dividends paid (6,846) (6,693)
Value of shares withheld for taxes (6,996) (3,837)
Other 0 (1,353)
Net cash provided by financing activities 417,783 50,445
Effect of exchange rates on cash and cash equivalents (529) 854
Decrease in cash and cash equivalents (25,885) (342,552)
Cash and cash equivalents at beginning of period 98,283 561,771
Cash and cash equivalents at end of period 72,398 219,219
Payments of Debt Issuance Costs $ (5,435) $ 0