HollyFrontier 2013 Annual Report Download - page 107

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99
Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2011 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) $2,275,784 $ 1,099,072 $ 41,866 $ (2,147,006) $ 1,269,716 $ 108,948 $ (40,273) $ 1,338,391
Cash flows from investing
activities:
Additions to properties, plants
and equipment (7,585) (150,441) — — (158,026) — — (158,026)
Additions to properties, plants
and equipment – HEP — — — — — (216,215) — (216,215)
Increase in cash due to merger
with Frontier 182 872,557 — — 872,739 — — 872,739
Investment in Sabine Biofuels (9,125) — — — (9,125) — — (9,125)
Payments received on
promissory notes — — 77,100 — 77,100 (77,100) — —
Purchases of marketable
securities (561,899) — — — (561,899) — — (561,899)
Sales and maturities of
marketable securities 301,020 — — — 301,020 — — 301,020
Net intercompany advances (1) — 332,655 9,921 (342,576) — — — —
(277,407) 1,054,771 87,021 (342,576) 521,809 (293,315) — 228,494
Cash flows from financing
activities:
Net borrowings under credit
agreement – HEP — — — — — 41,000 — 41,000
Proceeds from issuance of
common units – HEP — — — — — 75,815 — 75,815
Purchase of treasury stock (42,795) — — — (42,795) — — (42,795)
Redemptions of senior notes (8,203) — — — (8,203) — — (8,203)
Contribution from general
partner — — (128,887) — (128,887) 128,887 — —
Contribution from joint venture
partner — — — — — 33,500 — 33,500
Dividends (252,133) — — — (252,133) — — (252,133)
Distributions to noncontrolling
interest — — — — — (91,506) 40,632 (50,874)
Excess tax benefit from equity-
based compensation 1,804 — — — 1,804 — — 1,804
Purchase of units for restricted
grants - HEP — — — — — (1,641) — (1,641)
Deferred financing costs and
other (8,665) (1,160) — — (9,825) (3,371) (359) (13,555)
Net repayment of intercompany
advances (1) (342,576) — 342,576 — — — —
Distributions to Parent (1) — (2,147,006) — 2,147,006 — — — —
(652,568) (2,148,166) (128,887) 2,489,582 (440,039) 182,684 40,273 (217,082)
Cash and cash equivalents
Increase (decrease) for the
period: 1,345,809 5,677 — — 1,351,486 (1,683) — 1,349,803
Beginning of period 230,082 (9,035) 2 — 221,049 8,052 — 229,101
End of period $1,575,891 $ (3,358) $ 2 $ — $ 1,572,535 $ 6,369 $ — $ 1,578,904
Table of Contents HOLLYFRONTIER CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Continued