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
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (155.5) $ (122.6)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion and amortization 194.1 210.7
Amortization of acquired unfavorable contracts   (7.6)
Stock-based compensation 3.4 1.9
Loss on disposal of assets, net 2.5 8.6
Amortization of debt issuance costs 5.6 6.0
Loss on investments, net   6.8
Provision for credit losses, net of recoveries   12.8
Deferred tax expense 4.6  
Other non-cash items, net 0.2 0.2
Changes in operating assets and liabilities:    
Accounts receivable (68.2) (38.0)
Inventories (23.5) 9.9
Prepaid expenses and other assets (1.8) 4.7
Accounts payable 78.6 47.2
Accrued expenses (6.6) 5.6
Other liabilities (1.2) (10.8)
Net cash provided by operating activities 32.2 135.4
Cash flows from investing activities:    
Investment in property, plant & equipment (72.4) (95.3)
Proceeds from sale of assets 7.1 0.7
Other   0.4
Net cash used in investing activities (65.3) (94.2)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 25.0 21.6
Repayments of long-term debt (70.0) (71.9)
Borrowings from revolving credit agreements 844.0 916.7
Repayments of revolving credit agreements (744.4) (894.4)
Payment of debt issuance costs (1.4) (0.4)
Cash settlement of vested stock awards   (1.2)
Tax withholding related to net share settlement of noncontrolling interest equity awards (0.5)  
Payment of deferred financing costs (1.2)  
Other (0.4) (0.4)
Net cash provided by (used in) financing activities 51.1 (30.0)
Net increase in cash, cash equivalents, and restricted cash 18.0 11.2
Cash, cash equivalents, and restricted cash beginning of period 22.9 14.8
Cash, cash equivalents, and restricted cash end of period 40.9 26.0
Non-cash investing and financing activities    
Capital expenditures included in accounts payable 9.5 10.6
Operating lease liabilities incurred from obtaining right-of-use assets   0.8
Acquisition of equipment through settlement of accounts receivable - related party $ 15.0  
Finance lease liabilities incurred from obtaining property, plant & equipment   $ 0.5