CVR PARTNERS LP
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
UAN$112.45+1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for the Years Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in thousands) | 2023 | 2022 | 2021 |
| Cash flows from operating activities: | |||
| Net income | $172,433 | $286,801 | $78,155 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 79,720 | 82,137 | 73,480 |
| Amortization of deferred financing costs and original issue discount | 754 | 821 | 2,799 |
| Loss on asset disposal | 1,533 | 263 | 948 |
| Loss on debt extinguishment | — | 628 | 8,462 |
| Share-based compensation | 8,235 | 25,264 | 23,069 |
| Other adjustments | 222 | (107) | 142 |
| Changes in assets and liabilities: | |||
| Accounts receivable | 27,501 | (21,139) | (21,877) |
| Inventories | 6,704 | (24,807) | (7,508) |
| Prepaid expenses and other current assets | 1,911 | (2,278) | (785) |
| Accounts payable | (23,831) | (6,577) | 11,367 |
| Deferred revenue | (23,491) | (20,502) | 26,658 |
| Accrued expenses and other current liabilities | (8,412) | (14,939) | (7,182) |
| Other long-term assets and liabilities | 247 | (4,101) | 997 |
| Net cash provided by operating activities | 243,526 | 301,464 | 188,725 |
| Cash flows from investing activities: | |||
| Capital expenditures | (24,196) | (44,668) | (20,594) |
| Proceeds from the sale of assets | — | 45 | 252 |
| Return of equity method investment | 21,474 | — | — |
| Net cash used in investing activities | (2,722) | (44,623) | (20,342) |
| Cash flows from financing activities: | |||
| Principal payments on senior secured notes | — | (65,000) | (582,240) |
| Proceeds on issuance of senior secured notes | — | — | 550,000 |
| Payment of deferred financing costs | (500) | (829) | (3,892) |
| Repurchase of common units | — | (12,398) | (529) |
| Cash distributions to common unitholders – Affiliates | (103,605) | (75,193) | (18,098) |
| Cash distribution to common unitholders – Non-affiliates | (177,759) | (129,597) | (31,571) |
| Other financing activities | — | (1) | (96) |
| Net cash used in financing activities | (281,864) | (283,018) | (86,426) |
| Net (decrease) increase in cash and cash equivalents | (41,060) | (26,177) | 81,957 |
| Cash and cash equivalents, beginning of period | 86,339 | 112,516 | 30,559 |
| Cash and cash equivalents, end of period | $45,279 | $86,339 | $112,516 |
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