v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income (loss) $ 100,671 $ (144,868)
Adjustments to reconcile net income (loss) to net cash provided by operating activities    
Depreciation and amortization 47,086 49,947
Amortization of debt issuance costs and non-cash interest expense 1,248 6,166
Loss on sale of assets 0 4,044
Impairment of assets held for sale 0 10,724
Inventory lower of cost or net realizable value adjustment 0 2,255
Deferred income taxes (2,605) 2,600
Stock-based compensation 4,203 11,123
(Income) loss from equity method investees, net of income taxes (34) 29,116
Other (497) 64
Changes in operating assets and liabilities    
Accounts receivable (5,675) 16,428
Inventories 19,747 69,287
Production tax credits 92,854 0
Derivative financial instruments 9,720 (5,547)
Prepaid expenses and other assets (2,791) 12,639
Accounts payable and accrued liabilities (35,785) (61,235)
Current income taxes 3,910 685
Other 423 326
Net cash provided by operating activities 46,767 3,754
Cash flows from investing activities    
Purchases of property and equipment, net (17,140) (27,853)
Proceeds from the sale of assets 2,000 421
Investment in equity method investees 0 (4,909)
Net cash used in investing activities (15,140) (32,341)
Cash flows from financing activities    
Payments of principal on long-term debt (3,098) (962)
Proceeds from short-term borrowings 145,369 301,841
Payments on short-term borrowings (151,949) (362,803)
Payments of dividends and distributions 1,617 0
Purchase of minority interests (4,700) 0
Net proceeds from product financing arrangement 0 37,146
Payments of loan fees 250 81
Payments related to tax withholdings for stock-based compensation (2,439) (1,476)
Other financing activities 0 (1,753)
Net cash used in financing activities (18,684) (28,088)
Net change in cash and cash equivalents, and restricted cash 12,943 (56,675)
Cash and cash equivalents, and restricted cash, beginning of period 230,132 209,395
Cash and cash equivalents, and restricted cash, end of period 243,075 152,720
Reconciliation of total cash and cash equivalents, and restricted cash    
Cash and cash equivalents 185,384 108,624
Restricted cash 57,691 44,096
Total cash and cash equivalents, and restricted cash 243,075 152,720
Supplemental disclosures of cash flow    
Cash paid (refunded) for income taxes, net (3,875) 497
Cash paid for interest 16,318 16,642
Capital expenditures in accounts payable 3,660 2,215
Capital expenditures in carbon equipment liabilities 12,360 82,008
Non-cash asset retirement obligation additions 0 4,691
Non-cash issuance of warrants 738 5,656
Non-cash modification of warrants $ 0 $ 7,520