Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (80.8) $ (15.4)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion and amortization 97.1 106.0
Amortization of acquired unfavorable contracts   (5.7)
Stock-based compensation 0.9 1.1
Loss (gain) on disposal of assets, net (2.0) 3.4
Amortization of debt issuance costs 2.8 3.0
Loss (gain) on investments, net 0.0 (3.7)
Deferred tax expense 1.4 0.0
Other non-cash items, net 0.0 0.2
Changes in operating assets and liabilities:    
Accounts receivable (52.8) (94.5)
Inventories (8.0) 1.0
Prepaid expenses and other assets 3.5 (2.4)
Accounts payable 48.6 49.2
Accrued expenses (3.5) 7.8
Other liabilities 2.1 (11.3)
Net cash provided by operating activities 9.3 38.7
Cash flows from investing activities:    
Investment in property, plant & equipment (40.7) (52.5)
Proceeds from sale of assets 6.2 0.2
Other   0.6
Net cash used in investing activities (34.5) (51.7)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 25.0 0.0
Repayments of long-term debt (35.3) (42.5)
Borrowings from revolving credit agreements 416.5 419.1
Repayments of revolving credit agreements (368.7) (361.1)
Payment of debt issuance costs (1.3) 0.0
Cash settlement of vested stock awards   (1.0)
Tax withholding related to net share settlement of noncontrolling interest equity awards (0.5)  
Other 0.1 (0.3)
Net cash provided by financing activities 35.8 14.2
Net increase (decrease) in cash, cash equivalents, and restricted cash 10.6 1.2
Cash, cash equivalents, and restricted cash beginning of period 22.9 14.8
Cash, cash equivalents, and restricted cash end of period 33.5 16.0
Non-cash investing and financing activities    
Capital expenditures included in accounts payable 10.0 32.8
Operating lease liabilities incurred from obtaining right-of-use assets $ 0.0 $ 0.2