Calumet, Inc. /DE
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 6, 2026
CLMT$34.91-3.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities · (In millions) | ||
| Net income (loss) | $(139.6) | $3.5 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 104.2 | 113.4 |
| Amortization of turnaround costs | 27.8 | 31.9 |
| Non-cash interest expense | 35.9 | 30.6 |
| Debt extinguishment costs | 7.6 | 45.3 |
| RINs (benefit) expense | 134.1 | (112.4) |
| Unrealized (gain) loss on derivative instruments | 207.5 | (9.1) |
| Gain on sale of business | — | (55.8) |
| Equity based compensation | 79.9 | (11.0) |
| Lower of cost or market inventory adjustment | (29.4) | 3.1 |
| Other adjustments to reconcile net income (loss) to cash flow from operating activities | 2.6 | 6.9 |
| Changes in assets and liabilities | ||
| Accounts receivable | (234.6) | 2.4 |
| Inventories | (58.1) | 13.1 |
| Prepaid expenses and other current assets | 3.8 | 3.0 |
| Turnaround costs | (27.0) | (23.4) |
| Other assets | (5.5) | (12.3) |
| Accounts payable | 151.8 | (20.4) |
| Accrued interest payable | (29.0) | (16.5) |
| Accrued salaries, wages and benefits | (3.8) | 2.0 |
| Other taxes payable | 3.4 | 2.6 |
| Other liabilities | (7.0) | (4.5) |
| Net cash provided by (used in) operating activities | 224.6 | (7.6) |
| Investing activities | ||
| Additions to property, plant and equipment | (63.3) | (39.6) |
| Proceeds from sale of business, net | — | 95.4 |
| Other | (1.5) | — |
| Net cash provided by (used in) investing activities | (64.8) | 55.8 |
| Financing activities | ||
| Proceeds from borrowings — revolving credit facility | 1,388.9 | 1,896.4 |
| Repayments of borrowings — revolving credit facility | (1,483.5) | (2,015.4) |
| Proceeds from borrowings — MRL revolving credit agreement | — | 26.6 |
| Repayments of borrowings — MRL revolving credit agreement | — | (26.7) |
| Proceeds from borrowings — senior notes | 557.7 | 100.0 |
| Repayments of borrowings — senior notes | (551.8) | (230.0) |
| Proceeds from inventory financing | 353.7 | 264.9 |
| Payments on inventory financing | (340.3) | (306.4) |
| Proceeds from DOE Loan | 34.0 | 781.8 |
| Proceeds from asset financing arrangements | — | 160.0 |
| Payments on asset financing arrangements | (36.6) | (53.3) |
| Repayments of borrowings - MRL Asset Financing Arrangements | — | (396.1) |
| Repayments of borrowings - MRL Term Loan Credit Agreement | — | (86.0) |
| Debt issuance costs, debt discounts and premiums | (15.9) | (28.1) |
| Payments on other financing obligations | (11.3) | (7.2) |
| Net cash provided by (used in) financing activities | (105.1) | 80.5 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 54.7 | 128.7 |
| Cash, cash equivalents and restricted cash at beginning of period | 205.1 | 45.9 |
| Cash, cash equivalents and restricted cash at end of period | $259.8 | $174.6 |
| Supplemental disclosure of cash flow information | ||
| Interest paid, net of capitalized interest | $144.3 | $150.9 |
| Capital expenditures included in accounts payable | $6.0 | $28.8 |
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