Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
OPERATING ACTIVITIES    
Net Income $ 2,319 $ 17,476
Adjustments to Reconcile Net Income To Net Cash Provided by Operating Activities:    
Depreciation 4,226 3,667
Amortization of Intangible Assets 931 944
Unrealized Gain on Derivative Instruments (38) (55)
Share-based Compensation 1,289 1,274
Deferred Income Taxes 505 6,476
Postretirement Obligation (5) 94
Bargain purchase gain 0 (11,549)
Equity in (earnings) losses of AMAK 4,264 (4,350)
Amortization of loan fees 61 159
Changes in Operating Assets and Liabilities:    
(Increase) Decrease in Trade Receivables (2,839) 1,893
Decrease in Taxes Receivable 783 2,751
(Increase) Decrease in Inventories 2,752 (4,260)
Increase in Prepaid Expenses and Other Assets 36 212
Increase (Decrease) in Accounts Payable and Accrued Liabilities 114 (1,112)
Increase (Decrease) in Other Liabilities 1,129 (347)
Net Cash Provided by Operating Activities 15,527 13,273
INVESTING ACTIVITIES    
Additions to Plant, Pipeline and Equipment (27,833) (16,383)
Cash paid for acquisition of BASF facility 0 (2,011)
Advances to AMAK, net (55) 0
Cash Used in Investing Activities (27,888) (18,394)
FINANCING ACTIVITIES    
Issuance of Common Stock 25 11
Payments related to tax withholding for stock-based compensation (55) 0
Addition to Long-Term Debt 12,000 0
Repayment of Long-Term Debt (6,250) (4,167)
Net Cash Provided by (Used in) Financing Activities 5,720 (4,156)
NET DECREASE IN CASH AND CASH EQUIVALENTS (6,641) (9,277)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 8,389 18,623
CASH AND CASH EQUIVALENTS AT END OF PERIOD 1,748 9,346
Supplemental disclosure of cash flow information:    
Cash payments for interest 2,721 1,186
Cash payments for taxes, net of refunds 220 277
Supplemental disclosure of non-cash items:    
Capital expansion amortized to depreciation expense 435 637
Estimated earnout liability $ 0 $ 733