| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
88,800 | 15,300 | 291,200 | 358,700 | 512,600 | 595,300 | 480,300 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
133,100 | 129,000 | 130,200 | 122,500 | 114,300 | 107,600 | 69,800 |
Allowance for doubtful accounts | ||||||
600 | 200 | 0 | -500 | -1,100 | 700 | 500 |
Amortization of deferred financing costs | ||||||
1,800 | 1,900 | 1,900 | 1,900 | 1,900 | 6,400 | 3,900 |
Amortization of original issue discount | ||||||
- | - | - | - | - | 500 | 500 |
Amortization of original issue premium | ||||||
- | - | - | - | - | 2,800 | -100 |
Loss on disposition of assets | ||||||
-1,600 | -300 | -900 | -200 | -100 | -1,200 | -2,700 |
Loss on extinguishment of debt | ||||||
- | - | - | - | -26,100 | -37,500 | -2,100 |
Share-based compensation | ||||||
13,200 | 4,900 | 9,300 | 8,000 | 11,600 | 18,500 | 8,900 |
Gain on derivatives, net | ||||||
-69,800 | -19,400 | -28,600 | 185,600 | 57,100 | -285,600 | 78,100 |
Current period settlements on derivative contracts | ||||||
16,600 | -36,400 | 26,000 | -122,200 | -6,400 | 137,600 | - |
Income from equity method investments, net of distributions | ||||||
700 | 0 | 0 | - | - | - | - |
Current period settlements on derivative contracts | ||||||
16,600 | -36,400 | 26,000 | - | - | - | 7,200 |
Changes in assets and liabilities: | ||||||
Accounts receivable | ||||||
31,400 | 49,400 | -41,100 | -105,400 | 29,300 | 30,400 | -58,900 |
Inventories | ||||||
40,100 | 38,500 | -41,300 | -200,300 | -5,800 | -113,900 | 172,000 |
Prepaid expenses and other current assets | ||||||
-33,700 | 4,800 | -12,900 | -3,900 | 47,800 | -15,400 | 14,100 |
Insurance receivable | ||||||
- | - | - | - | - | - | 2,400 |
Insurance receivable | ||||||
- | - | - | - | - | - | 0 |
Other long-term assets | ||||||
-300 | -500 | -4,300 | 600 | -200 | -2,200 | 1,300 |
Accounts payable | ||||||
88,700 | -17,000 | -16,300 | -58,500 | -18,900 | -101,300 | 7,100 |
Accrued expenses and other current liabilities | ||||||
-161,500 | 170,600 | -45,900 | 36,600 | -1,000 | 4,400 | -6,900 |
Accrued environmental liabilities | ||||||
- | - | - | - | - | 100 | -1,100 |
Other long-term liabilities | ||||||
-3,400 | -1,000 | 200 | 1,300 | -600 | 100 | 1,200 |
Net cash provided by operating activities | ||||||
177,900 | 267,800 | 473,700 | 715,800 | 601,000 | 917,300 | 352,700 |
Cash flows from investing activities: | ||||||
Capital expenditures | ||||||
99,700 | 102,300 | 194,700 | 191,300 | 204,500 | 120,200 | 68,800 |
Investment in affiliates, net of return of investment | ||||||
76,500 | 5,600 | 0 | 0 | - | - | - |
Proceeds from sale of assets | ||||||
100 | 0 | 0 | 100 | 100 | 400 | 0 |
Net cash used in investing activities | ||||||
-176,100 | -107,900 | -194,700 | -191,200 | -204,400 | -119,800 | -655,900 |
Acquisition of Gary-Williams | ||||||
- | - | - | - | - | - | 587,100 |
Cash flows from financing activities: | ||||||
Proceeds, gross on issuance of CVR Refining's senior notes | ||||||
- | - | - | - | - | 500,000 | 0 |
Payments on senior secured notes | ||||||
- | - | - | - | 243,400 | 478,700 | 2,700 |
Proceeds, gross of original issue premium on issuance of senior notes | ||||||
- | - | - | - | - | - | 206,000 |
Payment of capital lease obligations | ||||||
1,800 | 1,600 | 1,400 | 1,200 | 1,100 | 900 | 0 |
Revolving debt repayment - affiliates | ||||||
0 | 31,500 | 0 | 0 | 31,500 | 0 | 0 |
Proceeds from June 2014 issuance of common units, net of offering costs | ||||||
- | - | - | 178,500 | - | - | - |
Redemption of common units from CVR Refining Holdings, LLC - June 2014 | ||||||
- | - | - | 179,000 | - | - | 0 |
Deferred costs associated with the initial public offering | ||||||
- | - | - | - | - | 3,100 | 0 |
Net distributions to parent | ||||||
- | - | - | - | - | -651,600 | 110,600 |
Distributions to affiliates | ||||||
- | - | - | - | 235,100 | 0 | 0 |
Payment of deferred financing costs | ||||||
1,600 | 0 | 0 | - | 400 | 12,800 | 10,300 |
Net cash used in financing activities | ||||||
-142,100 | -33,100 | -461,900 | -434,200 | -269,900 | -647,100 | 303,600 |
Net increase in cash and cash equivalents | ||||||
-140,300 | 126,800 | -182,900 | 90,400 | 126,700 | 150,400 | 400 |
Cash paid for interest net of capitalized interest of $0.3 and $0.3 in 2018 and 2017, respectively | ||||||
45,100 | 41,500 | 40,600 | 32,400 | 49,400 | 75,200 | 43,800 |
Construction in process additions included in accounts payable | ||||||
6,900 | 9,200 | 20,600 | 19,900 | 30,400 | 37,400 | 19,900 |
Change in accounts payable related to construction in process additions | ||||||
-2,300 | -11,400 | 700 | -10,500 | -7,000 | 17,500 | 15,300 |
Reduction of proceeds for underwriting discount and financing costs | ||||||
- | - | - | - | - | 7,500 | 4,000 |