XML 43 R2.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 821.6 $ 841.3
Accounts receivable, net 1,003.5 1,234.4
Inventories, net of inventory valuation reserves 1,276.4 1,518.5
Other current assets 94.6 122.7
Total current assets 3,196.1 3,716.9
Property, plant and equipment:    
Property, plant and equipment 4,577.2 4,349.0
Less: accumulated depreciation (1,708.0) (1,572.6)
Property, plant and equipment, net 2,869.2 2,776.4
Operating lease right-of-use assets 169.5 179.5
Goodwill 744.3 744.3
Other intangibles, net 305.1 315.6
Equity method investments 363.7 359.7
Other non-current assets 121.6 100.4
Total assets 7,769.5 8,192.8
Current liabilities:    
Accounts payable 1,990.1 1,745.6
Current portion of long-term debt 49.5 74.5
Current portion of obligation under Inventory Intermediation Agreement 0.0 49.9
Current portion of operating lease liabilities 50.2 49.6
Accrued expenses and other current liabilities 824.8 1,166.8
Total current liabilities 2,914.6 3,086.4
Non-current liabilities:    
Long-term debt, net of current portion 2,761.4 2,979.2
Obligation under Inventory Intermediation Agreement 453.4 491.8
Environmental liabilities, net of current portion 111.6 111.5
Asset retirement obligations 42.5 41.8
Deferred tax liabilities 280.7 266.5
Operating lease liabilities, net of current portion 113.4 122.4
Other non-current liabilities 29.0 23.7
Total non-current liabilities 3,792.0 4,036.9
Stockholders’ equity:    
Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued and outstanding 0.0 0.0
Common stock, $0.01 par value, 110,000,000 shares authorized, 83,150,295 shares and 84,509,517 shares issued at June 30, 2023 and December 31, 2022, respectively 0.8 0.9
Additional paid-in capital 1,121.8 1,134.1
Accumulated other comprehensive loss (5.3) (5.2)
Treasury stock, 17,575,527 shares, at cost, at June 30, 2023 and December 31, 2022, respectively (694.1) (694.1)
Retained earnings 518.1 507.9
Non-controlling interests in subsidiaries 121.6 125.9
Total stockholders’ equity 1,062.9 1,069.5
Total liabilities and stockholders’ equity $ 7,769.5 $ 8,192.8