PAR PACIFIC HOLDINGS INC
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
PARR$67.04-2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net Income (Loss) | $(3,751) | $237,890 |
| Adjustments to reconcile net income (loss) to cash provided by operating activities: | ||
| Depreciation and amortization | 32,656 | 24,360 |
| Debt extinguishment and commitment costs | — | 17,720 |
| Non-cash interest expense | 1,412 | 898 |
| Deferred taxes | (2,631) | 67 |
| Loss on sale of assets, net | 51 | — |
| Stock-based compensation | 16,410 | 2,317 |
| Unrealized (gain) loss on derivative contracts | 43,849 | (13,670) |
| Equity earnings from Laramie Energy, LLC | (4,563) | (10,706) |
| Equity earnings from refining and logistics investments | (6,094) | — |
| Dividends received from refining and logistics investments | 5,265 | — |
| Net changes in operating assets and liabilities: | ||
| Trade accounts receivable | (81,167) | (24,906) |
| Prepaid and other assets | 90,745 | 21,084 |
| Inventories | 27,269 | 112,340 |
| Deferred turnaround expenditures | (13,347) | — |
| Obligations under inventory financing agreements | 65,883 | (43,910) |
| Accounts payable, other accrued liabilities, and operating lease ROU assets and liabilities | (146,556) | (184,389) |
| Net cash provided by operating activities | 25,431 | 139,095 |
| Cash flows from investing activities: | ||
| Capital expenditures | (22,642) | (13,213) |
| Proceeds from sale of assets and other | 10 | 50 |
| Return of capital from Laramie Energy, LLC | — | 10,706 |
| Net cash used in investing activities | (22,632) | (2,457) |
| Cash flows from financing activities: | ||
| Proceeds from borrowings | 527,000 | 541,750 |
| Repayments of borrowings | (545,565) | (521,256) |
| Net borrowings on deferred payment arrangements and receivable advances | 2,443 | 22,407 |
| Payment of deferred loan costs | (3,377) | (4,210) |
| Purchase of common stock for retirement | (34,107) | (2,569) |
| Exercise of stock options | — | 6,374 |
| Payments for debt extinguishment and commitment costs | — | (8,742) |
| Net cash provided by (used in) financing activities | (53,606) | 33,754 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (50,807) | 170,392 |
| Cash, cash equivalents, and restricted cash at beginning of period | 279,446 | 494,926 |
| Cash, cash equivalents, and restricted cash at end of period | $228,639 | $665,318 |
| Supplemental cash flow information: | ||
| Net cash paid for: | ||
| Interest | $(16,320) | $(20,042) |
| Taxes | (3,155) | (454) |
| Non-cash investing and financing activities: | ||
| Accrued capital expenditures | $20,313 | $4,328 |
| ROU assets obtained in exchange for new finance lease liabilities | 1,544 | 731 |
| ROU assets obtained in exchange for new operating lease liabilities | 18,756 | 8,380 |
| ROU assets terminated in exchange for release from finance lease liabilities | — | — |
| ROU assets terminated in exchange for release from operating lease liabilities | 4,177 | — |
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