Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (unaudited)

v3.7.0.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income (loss) $ 10,274 $ (36,060)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:    
Depreciation and amortization 36,547 34,862
Stock compensation 901 2,120
Deferred income taxes (1,290) (18,511)
Equity (earnings) losses of investees, net of dividends 409 (378)
Amortization of debt issuance costs 787 880
Amortization of original issuance discount 1,783 1,634
(Gain) loss on disposition of assets (476) 2,088
Unrealized loss on commodity swaps 0 3,333
Changes in operating assets and liabilities:    
Accounts and other receivables, net 5,375 (30,748)
Income tax receivable 32,984 3,500
Inventories (10,926) 4,127
Prepaid expenses and other current assets (13,639) (2,980)
Other assets, net (3,318) (3,940)
Accounts payable 11,751 2,997
Accrued liabilities (405) 7,652
Other non-current liabilities 11,726 73
Net cash provided by (used in) operating activities 82,483 (29,351)
Cash flows from investing activities:    
Capital expenditures (13,067) (23,446)
Capital expenditures for turnarounds and catalysts (1,349) (16,610)
Proceeds from disposition of assets 1,177 975
Acquisition of California renewable fuels facility 0 (7,936)
Net cash used in investing activities (13,239) (47,017)
Cash flows from financing activities:    
Dividends paid to stockholders (10,727) (10,527)
Dividends paid to non-controlling interest (67) (133)
Distributions paid to non-controlling interest in the Partnership (1,267) (921)
Taxes paid due to the net settlement of stock compensation (368) 0
RINs financing transactions 7,115 51,313
Payments on long-term debt (14,103) (4,108)
Net cash provided by (used in) financing activities (19,417) 35,624
Net increase (decrease) in cash and cash equivalents 49,827 (40,744)
Cash and cash equivalents, beginning of period 136,302 234,127
Cash and cash equivalents, end of period 186,129 193,383
Supplemental cash flow information:    
Cash paid for interest, net of capitalized interest 13,355 16,514
Refunds received for income tax (35,469) (3,478)
Supplemental disclosure of non-cash activity:    
Capital expenditures included in accounts payable and accrued liabilities $ 907 $ 0