HollyFrontier 2014 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2014 HollyFrontier annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 122

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122

Table of Contents HOLLYFRONTIER CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Continued
96
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)
Payments received on
promissory notes — — 72,900 — 72,900 (72,900) — —
Purchases of marketable
securities (671,552) — — — (671,552) — — (671,552)
Sales and maturities of
marketable securities 296,780 931 — — 297,711 — — 297,711
Other, net — (2,000) — — (2,000) — — (2,000)
Net intercompany advances — 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
Proceeds from issuance of
common units – HEP — — — — — 294,750 — 294,750
Redemptions 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)
Contribution from general
partner — — (10,286) — (10,286) 10,286 — —
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
Other, net 8,620 (1,370) — — 7,250 (2,676) — 4,574
Net receipt of intercompany
advances 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