v3.26.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 109.8 $ 125.1
Restricted cash 40.0 80.0
Accounts receivable, less allowance for credit losses of $1.9 and $1.1, respectively 417.0 232.5
Inventories 421.0 385.2
Derivative assets 0.0 6.7
Prepaid expenses and other current assets 35.0 28.3
Total current assets 1,022.8 857.8
Property, plant and equipment, net 1,321.2 1,353.0
Other noncurrent assets, net 458.8 478.1
Total assets 2,802.8 2,688.9
Current liabilities:    
Accounts payable 372.1 281.5
Accrued interest payable 55.0 46.1
Accrued salaries, wages and benefits 101.9 84.6
Current portion of RINs obligation 480.2 169.3
Derivative liabilities 64.9 0.0
Other current liabilities 109.2 103.0
Current portion of long-term debt 33.5 156.2
Total current liabilities 1,216.8 840.7
Other long-term liabilities 247.3 258.0
Long-term debt, less current portion 2,225.2 2,077.3
Total liabilities 3,689.3 3,176.0
Commitments and contingencies
Redeemable noncontrolling interest and other equity instruments 250.6 245.6
Stockholders' equity:    
Common stock: par value $0.01 per share, 700,000,000 shares authorized, and 87,843,035 and 86,776,552 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively. 0.9 0.9
Additional paid-in capital 854.5 838.8
Warrants: 2,000,000 warrants issued and outstanding December 31, 2025 0.0 7.8
Accumulated deficit (1,986.3) (1,573.4)
Accumulated other comprehensive loss (6.2) (6.8)
Total stockholders' equity (1,137.1) (732.7)
Total liabilities and stockholders' equity $ 2,802.8 $ 2,688.9