Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities:    
Net loss $ (17,272) $ (9,060)
Adjustments to reconcile net loss to Net cash provided by operating activities:    
Depreciation and amortization 17,860 17,382
Gains on derivative instruments (9,002) (2,463)
Gain on sale of assets (830)
Asset impairments 574
Stock-based compensation 3,650 2,718
Amortization of deferred financing fees 761 793
Amortization of debt discount 602 599
Credit loss recovery (23) (54)
Changes in operating assets and liabilities:    
Accounts receivable 6,714 2,644
Inventories 8,434 9,536
Other assets 4,702 3,253
Operating leases (4,424) (4,014)
Accounts payable and accrued liabilities (4,903) (11,679)
Net cash provided by operating activities 6,269 10,229
Investing Activities:    
Additions to property and equipment (9,788) (24,611)
Proceeds from sale of assets 400
Deferred purchase price payments for Eagle Alcohol (2,800) (3,500)
Net cash used in investing activities (12,188) (28,111)
Financing Activities:    
Net (payments on) proceeds from Kinergy’s line of credit (117) 6,847
Stock repurchases (2,683)
Preferred stock dividends paid (950) (946)
Net cash (used in) provided by financing activities (1,067) 3,218
Net change in cash, cash equivalents and restricted cash (6,986) (14,664)
Cash, cash equivalents and restricted cash at beginning of period 45,480 49,525
Cash, cash equivalents and restricted cash at end of period 38,494 34,861
Reconciliation of total cash, cash equivalents and restricted cash:    
Cash and cash equivalents 33,591 26,162
Restricted cash 4,903 8,699
Total cash, cash equivalents and restricted cash 38,494 34,861
Supplemental Information:    
Interest paid 6,211 6,063
Proceeds from sale of assets – note receivable 1,012
ROU Assets obtained in exchange for new lease obligations 7,167
Capitalized interest $ 2,411 $ 2,185