HollyFrontier 2013 Annual Report Download - page 106

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98
Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2012 Parent
Guarantor
Restricted
Subsidiaries
Non-
Guarantor
Restricted
Subsidiaries Eliminations
HollyFrontier
Corp. Before
Consolidation
of HEP
Non-Guarantor
Non-Restricted
Subsidiaries
(HEP Segment)
Consolidations
and
Eliminations Consolidated
(In thousands)
Cash flows from operating
activities (1) $1,571,928 $ 2,656,514 $ 63,759 $ (2,727,561) $ 1,564,640 $ 162,036 $ (63,989) $ 1,662,687
Cash flows from investing
activities:
Additions to properties, plants
and equipment (7,965) (282,369) — — (290,334) — — (290,334)
Additions to properties, plants
and equipment – HEP — — — — — (44,929) — (44,929)
Investment in Sabine Biofuels — (2,000) — — (2,000) — — (2,000)
Purchases of marketable
securities (671,552) — — — (671,552) — — (671,552)
Payments received on
promissory notes — — 72,900 — 72,900 (72,900) — —
Sales and maturities of
marketable securities 296,780 931 — — 297,711 — — 297,711
Net intercompany advances (1) — 101,943 (126,373) 24,430 — — — —
(382,737) (181,495) (53,473) 24,430 (593,275) (117,829) — (711,104)
Cash flows from financing
activities:
Net borrowings under credit
agreement – HEP — — — — — 221,000 — 221,000
Net proceeds from issuance of
senior notes - HEP — — — — — 294,750 — 294,750
Redemption of senior notes (205,000) — — — (205,000) — — (205,000)
Principal tender on senior notes — — — — — (185,000) — (185,000)
Purchase of treasury stock (209,600) — — — (209,600) — — (209,600)
Structured stock repurchase
arrangement 8,620 — — — 8,620 — — 8,620
Contribution from general
partner — — (10,286) — (10,286) 10,286 — —
Contribution from joint venture
partner — — — — — 6,000 — 6,000
Distribution from HEP upon
UNEV transfer — 260,922 — — 260,922 (260,922) — —
Dividends (658,085) — — — (658,085) — — (658,085)
Distributions to noncontrolling
interest — — — — — (122,777) 63,989 (58,788)
Excess tax benefit from equity-
based compensation 23,361 — — — 23,361 — — 23,361
Purchase of units for incentive
grants - HEP — — — — — (5,240) — (5,240)
Deferred financing costs and
other — (1,370) — — (1,370) (3,436) — (4,806)
Net receipt of intercompany
advances (1) 24,430 — — (24,430) — — — —
Distributions to Parent (1) — (2,727,561) — 2,727,561 — — — —
(1,016,274) (2,468,009) (10,286) 2,703,131 (791,438) (45,339) 63,989 (772,788)
Cash and cash equivalents
Increase (decrease) for the
period: 172,917 7,010 — — 179,927 (1,132) — 178,795
Beginning of period 1,575,891 (3,358) 2 — 1,572,535 6,369 — 1,578,904
End of period $1,748,808 $ 3,652 $ 2 $ — $ 1,752,462 $ 5,237 $ — $ 1,757,699
Table of Contents HOLLYFRONTIER CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Continued