Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (118.9) $ (62.6)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 210.7 216.2
Amortization of acquired unfavorable contracts (7.6) (27.4)
Stock-based compensation - equity classified 1.9 5.0
Gain on insurance recoveries   (3.2)
Loss (gain) on disposal of assets, net 8.6 (1.1)
Non-cash loss on extinguishment of debt   0.8
Amortization of debt issuance costs 6.0 7.6
Loss (gain) on investments, net 6.8 (0.2)
Provision for credit losses, net of recoveries 12.8  
Goodwill impairment   67.7
Deferred tax benefit   (27.2)
Other non-cash items, net 0.2  
Changes in operating assets and liabilities:    
Accounts receivable (38.0) (6.0)
Inventories 9.9 6.9
Prepaid expenses and other assets 4.7 13.6
Accounts payable 47.2 (10.1)
Accrued expenses 5.6 25.7
Other liabilities (10.8) (13.1)
Net cash provided by operating activities 139.1 192.6
Cash flows from investing activities:    
Acquisitions, net of cash acquired   (194.4)
Investment in property, plant & equipment (99.0) (121.8)
Proceeds from sale of assets 0.7 29.0
Proceeds from insurance recoveries   4.4
Other 0.4 (2.0)
Net cash used in investing activities (97.9) (284.8)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 21.6 120.9
Repayments of long-term debt (71.9) (55.6)
Borrowings from revolving credit agreements 916.7 1,034.2
Repayments of revolving credit agreements (894.4) (1,003.7)
Payment of debt issuance costs (0.4) (3.4)
Cash settlement of vested stock awards (1.2)  
Tax withholding related to net share settlement of equity awards   (1.5)
Other (0.4)  
Net cash provided by (used in) financing activities (30.0) 90.9
Net increase (decrease) in cash, cash equivalents, and restricted cash 11.2 (1.3)
Cash, cash equivalents, and restricted cash beginning of period 14.8 25.3
Cash, cash equivalents, and restricted cash end of period 26.0 24.0
Non-cash investing and financing activities    
Capital expenditures included in accounts payable 10.6 44.2
Operating lease liabilities incurred from obtaining right-of-use assets 0.8 26.9
Finance lease liabilities incurred from obtaining property, plant & equipment $ 0.5 $ 9.3