HF Sinclair Corp
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 20, 2025
DINO$98.76-1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(In millions)
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net income | $184 | $1,711 | $3,041 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 832 | 771 | 657 |
| Asset impairments | 17 | — | — |
| Lower of cost or market inventory valuation adjustments | (43) | 271 | 52 |
| Earnings of equity method investments, net of distributions | 1 | 8 | 20 |
| Gain on early extinguishment of debt | — | — | (1) |
| Gain on sale of assets | (2) | (7) | (2) |
| Deferred income tax expense (benefit) | (49) | 193 | 53 |
| Equity-based compensation expense | 23 | 41 | 31 |
| Change in fair value – derivative instruments | (34) | 17 | 10 |
| (Increase) decrease in current assets: | |||
| Accounts receivable | 463 | (17) | (4) |
| Inventories | 138 | 30 | (224) |
| Income taxes receivable | (14) | (3) | 43 |
| Prepayments and other | 11 | 8 | (41) |
| Increase (decrease) in current liabilities: | |||
| Accounts payable | 25 | (109) | 194 |
| Income taxes payable | (6) | 1 | (17) |
| Accrued liabilities | (63) | (30) | 78 |
| Turnaround expenditures | (413) | (556) | (145) |
| Other, net | 40 | (32) | 32 |
| Net cash provided by operating activities | 1,110 | 2,297 | 3,777 |
| Cash flows from investing activities: | |||
| Additions to properties, plants and equipment | (470) | (385) | (524) |
| Acquisitions, net of cash acquired | — | — | (251) |
| Proceeds from sale of assets | 4 | 17 | 3 |
| HEP investment in Osage Pipe Line Company, LLC | (8) | (7) | (13) |
| Distributions in excess of equity in earnings of equity investments | 6 | 4 | 11 |
| Net cash used for investing activities | (468) | (371) | (774) |
| Cash flows from financing activities: | |||
| Borrowings under credit agreements | — | 60 | 510 |
| Repayments under credit agreements | (106) | (273) | (682) |
| Proceeds from issuance of senior notes | — | — | 400 |
| Redemption of senior notes | — | (308) | (41) |
| Purchase of treasury stock | (672) | (999) | (1,372) |
| Dividends | (386) | (341) | (256) |
| Distributions to noncontrolling interest | (7) | (102) | (96) |
| Payments on finance leases | (11) | (12) | (12) |
| HEP Merger Transaction consideration | — | (268) | — |
| Deferred financing costs | — | (1) | (9) |
| Other, net | — | — | (3) |
| Net cash used for financing activities | (1,182) | (2,244) | (1,561) |
| Effect of exchange rate on cash flow | (14) | 7 | (11) |
| Cash and cash equivalents: | |||
| Net change for the period | (554) | (311) | 1,431 |
| Cash and cash equivalents at beginning of period | 1,354 | 1,665 | 234 |
| Cash and cash equivalents at end of period | $800 | $1,354 | $1,665 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid during the period for: | |||
| Interest | $(164) | $(203) | $(160) |
| Income taxes, net | $(110) | $(251) | $(816) |
| Decrease in accrued and unpaid capital expenditures | $(1) | $(6) | $(32) |
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