Par pacific holdings, inc. (PARR)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net Income (Loss)

-222,337

35,439

-83,891

28,169

61,092

13,886

-5,822

16,178

15,185

19,005

18,824

7,006

27,786

13,687

-27,761

-13,088

-18,673

-66,836

14,740

11,723

462

31,660

-39,456

-24,677

-14,568

-50,523

-14,621

-9,213

-4,816

-8,839

-11,579

-428,731

535

-30,265

Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Depreciation, Depletion and Amortization

21,283

21,018

22,227

21,919

20,957

13,638

13,192

12,775

13,037

12,141

11,304

11,284

11,260

11,778

9,643

5,101

5,095

7,066

4,596

5,005

3,251

4,628

3,918

3,290

3,061

2,960

1,218

1,037

767

401

-

-

10,528

11,951

Impairment expense

67,922

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt extinguishment and commitment costs

0

-2,401

0

-3,690

-5,496

-4,224

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on sale of assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

33

-33

50

-

-

-

-

-

Non cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,056

-

-

-

-

Depreciation, depletion, amortization - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-116

0

1,285

4,179

Change in asset values due to fresh - start accounting adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Loss on termination of financing agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Non-cash interest expense

1,634

2,054

2,096

2,394

2,574

1,769

1,755

1,739

1,864

1,087

1,707

2,118

2,364

6,695

7,549

2,847

1,030

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash lower of cost or net realizable value adjustment

182,366

-

-

-

-3,752

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,397

4,537

4,951

-

5,755

2,656

2,221

991

3,812

3,096

2,702

-

-

-

-

-

Fair Value Adjustment of Warrants

-4,270

134

826

957

1,282

-2,197

1,067

74

-745

-537

975

547

689

515

-657

-1,176

-1,644

932

1,023

-3,313

5,022

-315

-2,401

-140

-1,577

3,469

1,390

3,300

2,000

4,280

-

-

-

-

Change in value of contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

21,523

-1,025

-3,552

-6,176

-229

4,255

9,495

4,929

2,909

-996

-2,297

-2,465

0

0

0

0

-

-

-

-

-

Loss from unconsolidated affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,325

-

-

-

-

Deferred taxes

-18,373

2,677

-2,434

-2,000

-65,129

-178

808

0

31

-1,783

-1

261

202

630

8

-8,573

0

1,584

469

-18,607

65

-66

-112

-44

-35

179

0

0

0

-2,757

239

239

239

239

Gain on settlement of liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Loss on disposal of other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-33

82

-

-

-

-

Gain on sale of assets - discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,753

0

9,446

-500

Dry hole costs and impairments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

273

143

Stock-based compensation

1,615

1,791

1,448

1,663

1,535

1,397

1,696

1,664

1,439

1,401

1,677

1,590

2,536

1,522

1,624

1,294

2,185

1,125

1,064

1,708

1,268

-188

2,548

982

628

670

210

141

140

34

1,506

1,735

2,395

2,367

Amortization of deferred financing costs, bond discount, and installments payable discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,057

2,550

3,499

2,699

Unrealized Gain (Loss) on Derivatives

-28,351

-3,022

14,758

-15,831

-5,255

5,983

-3,227

-5,724

846

1,546

3,099

-5,144

1,488

9,675

396

7,017

-1,609

-6,110

-4,360

1,980

-2,406

698

508

-340

149

0

-45

285

-240

-

-1,144

6,749

8,341

-10,953

Income (Loss) from Equity Method Investments

-45,031

-4,910

-85,633

491

301

5,190

1,050

-2,352

5,576

6,718

553

2,352

8,746

-7,222

3,659

-16,947

-1,871

-49,852

-1,355

-2,950

-1,826

1,475

835

760

-221

-1,169

-907

1,495

-2,360

-

-

80

131

83

Net changes in operating assets and liabilities:
Professional fees paid through restricted cash related to trust activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-71

1,297

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-796

-1,539

147

248

Net changes in operating assets and liabilities:
Trade accounts receivable

-30,989

-2,803

-21,225

-10,681

71,361

22,971

2,215

4,518

6,086

31,170

9,165

-14,873

-6,362

20,395

2,321

4,912

-10,466

-12,097

10,557

-5,816

-47,173

-26,304

40,610

598

-20,512

24,117

23,687

-10,320

2,794

2,234

-1,838

236

-1,644

1,711

Prepaid and other assets

-20,719

37,959

-1,809

-70,338

58,309

7,389

-73,911

-7,074

79,117

9,102

-6,298

-8,400

-32,049

28,313

-24,430

39,166

-43,994

34,846

-3,853

6,002

-1,298

6,493

-51,102

49,947

628

2,625

-151

364

-269

538

2,910

-789

1,000

-103

Inventories

-119,888

-51,878

92,440

78,112

76,766

-40,834

24,888

37,590

-53,484

25,493

12,662

13,635

94,743

1,375

-69,451

92,009

-72,948

-12,531

-41,639

80,740

-58,483

-74,088

-16,189

-7,425

36,173

-

-

-

-

0

0

4

0

64

Deferred turnaround expenditures

1,593

814

7,092

1,894

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Obligations under inventory financing agreements

-204,375

-90,877

138,575

-8,583

82,870

26,112

-65,561

23,805

-1,494

53,485

20,547

-7,513

76,515

5,818

-38,731

111,559

-84,623

15,126

-25,992

60,910

-15,199

-115,744

-2,618

-3,493

8,971

-

-

-

-

0

-

-

-

-

Accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,718

-108

857

-813

925

Inventories and obligations under supply and exchange agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,875

-

-

-

-

-

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6

-

-

-

-

-

Accounts payable, other accrued liabilities, and operating lease ROU assets and liabilities

-54,351

17,318

1,171

12,681

37,799

-15,442

24,453

-10,591

21,465

-19,071

7,408

7,675

-29,792

9,243

-15,628

-4,260

-16,053

7,973

-6,106

1,108

-29,163

2,839

3,901

1,975

12,089

-29,773

49,703

6,992

-7,905

-

-

-

-

-

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-5,856

3,988

-3,982

2,128

Settlement claim liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Assets held for sale working capital, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,851

721

-419

-1,794

Net cash provided by (used in) operating activities

14,499

6,998

74,395

80,995

-56,758

38,720

20,573

18,686

12,641

1,027

43,260

37,202

24,994

17,855

-12,442

-40,835

12,029

-11,988

45,735

11,839

86,772

22,075

-3,499

-65,288

-7,892

-44,709

-2,798

20,456

-8,626

-4,636

-5,530

6,408

-5,498

5,610

Cash flows from investing activities:
Acquisitions of businesses, net of cash acquired

0

-892

0

0

274,291

0

0

-349

74,680

0

0

0

0

-

-

-

-

-29

1,091

58,269

5,000

10,000

0

0

582

-

-

-

-

17,439

-

-

-

-

Proceeds from purchase price settlement related to asset acquisition

0

-

-

-

3,226

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of Par Hawaii, Inc., net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

10,000

0

-

-

-

-

-

-

-

-

-

Capital expenditures

14,948

19,834

22,682

23,540

17,864

18,241

12,541

8,045

9,612

11,820

8,111

4,198

7,579

5,557

7,585

7,215

4,476

6,488

5,984

5,126

4,747

7,574

817

3,891

2,018

3,141

4,496

121

10

0

5,306

14,025

19,422

17,305

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

450

0

88

2,235

0

0

0

0

-

-

-

-

0

0

0

2,850

-

-

-

-

-

Additions to drilling and trucking equipment - assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

707

664

158

Proceeds from asset sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Proceeds from sale of drilling assets - assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

62

3,329

38

Proceeds from sale of other fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

39

0

0

0

61

Investment in Laramie Energy, LLC

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

55,000

0

0

13,765

13,764

0

12

0

0

-

-

28

218

415

-

-

-

-

Proceeds from sale of unconsolidated affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

125

0

619

339

559

Other investing activities

-5

0

-676

0

-188

-11

-8

-797

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7

Net cash used in investing activities

-14,943

-18,942

-22,006

-23,540

-288,741

-72,097

-12,533

-6,899

-84,292

-11,804

-8,092

-4,198

-7,579

4,893

-221,768

-12,127

-57,241

-6,459

-7,075

-77,160

-23,511

-7,574

-234

-13,891

-2,600

-1,825

-525,148

-40,149

2,622

-17,690

92,845

-13,189

24,791

-16,798

Cash flows from financing activities:
Funding of purchase of HIE from supply and exchange agreements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Proceeds from sale of common stock, net of offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

75,517

239

0

300

2,388

101,561

0

0

-

-

-

-

0

-

-

-

-

Proceeds from borrowings

55,000

40,401

20,000

67,499

383,006

12,241

0

81,500

25,000

377,168

62,799

102,039

74,700

52,900

190,232

111,550

0

117,258

0

83,400

7,500

74,229

91,854

116,437

81,100

92,145

22,790

36,865

8,000

35,000

62,348

6,000

19,000

30,202

Repayments of borrowings

64,762

34,215

26,580

91,503

89,038

3,825

3,082

84,189

27,655

311,086

74,662

126,386

91,636

64,374

120,653

12,024

5,114

113,048

6,606

72,846

34,712

99,275

58,350

86,150

87,755

69,902

50,672

1,335

0

0

38,375

0

39,917

26,700

Net borrowings (repayments) on deferred payment arrangements and receivable advances

-52,069

15,639

-43,664

14,480

56,967

-3,418

469

8,669

21,544

-705

904

-485

-1,912

-18,627

11,057

10,031

5,566

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of common stock warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Payment of deferred loan costs

0

0

37

120

13,293

0

307

0

72

10,014

50

0

0

-

-

-

-

1,394

69

4,618

1,254

362

4,547

1,136

0

-

-

-

-

0

550

0

15

964

Purchase of common stock for retirement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

186

-

0

0

0

-

0

0

287

0

0

0

0

-

-23

1,012

6

1

Contingent consideration settlements

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

10,896

1,084

0

0

0

0

-

-

-

-

-

-

0

0

-

-

-

-

-

Payments for debt extinguishment and commitment costs

0

945

0

954

6,188

3,390

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities, net

-1,660

-1,814

2,390

740

-734

-207

-89

-21

-543

-121

-524

-220

-128

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fund distribution agent account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Proceeds from (funding of) Wapiti and General Recovery Trusts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,446

-

-

-

-

Recoveries from bankruptcy settlements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,183

-

-

-

-

Restricted cash released

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1

51

0

0

12,500

6,500

-19,000

-

-

-

-

Net cash provided by (used in) financing activities

-63,491

27,237

-47,891

-9,858

330,720

20,719

-3,009

5,959

18,274

50,810

-11,533

-25,052

-18,976

-30,732

126,327

95,341

-818

84,394

-15,022

19,219

-28,166

-22,727

83,318

76,352

-6,891

15,551

553,972

48,030

14,500

23,629

-76,554

4,988

-20,938

2,537

Net decrease in cash, cash equivalents, and restricted cash

-63,935

15,293

4,498

47,597

-14,779

-12,658

5,031

17,746

-53,377

40,033

23,635

7,952

-1,561

-7,984

-107,883

42,379

-46,030

65,947

23,638

-46,102

35,095

-8,226

79,585

-2,827

-17,383

-30,983

26,026

28,337

8,496

1,303

10,761

-1,793

-1,645

-8,651

Supplemental cash flow information:
Net cash received (paid) for:
Net cash received (paid) for:
Interest

8,552

22,337

9,173

23,351

3,389

15,205

969

15,231

-3,219

8,705

2,554

7,365

5,249

5,644

3,231

1,596

2,746

2,667

3,000

809

415

1,178

1,321

889

1,138

2,093

65

-21

49

0

8,936

437

8,601

1,410

Taxes

-97

-3,838

8

3,966

0

1

48

0

0

363

705

410

0

-450

-1

1

-139

-45

-95

-262

0

-476

-2

-274

509

0

0

21

-21

-

-

-

-

-

Non-cash investing and financing activities:
Non-cash investing and financing activities:
Accrued capital expenditures

7,301

-821

-878

-1,372

9,457

2,151

1,903

679

1,466

-1,543

2,614

179

1,676

2,324

-1,959

2,103

2,439

-750

1,165

-373

2,060

-902

1,851

712

667

0

0

0

0

-

-

-

-

-

Stock issued used to settle bankruptcy claims

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

137

534

0

1,934

0

-

-

-

-

Value of warrants reclassified to equity

3,936

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

ROU assets obtained in exchange for new finance lease liabilities

1,590

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

ROU assets obtained in exchange for new operating lease liabilities

2,996

-

-

-

14,130

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

ROU assets terminated in exchange for release from operating lease liabilities

7,738

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Common stock issued for business combination

0

0

0

0

36,980

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash used to settle bankruptcy claims

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

824

2,643

783

-

-

-

-

-

Interest payable capitalized to principal balance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

1,616

Non-cash additions to property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

209

-

-

-

-