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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING CASH FLOW    
Net earnings (loss) $ (274,712) $ (497,745)
Adjustments to reconcile net earnings (loss) to operating cash flow:    
Impairment expense - Cont Ops 297,604 39,115
Impairment expense - Disc Ops 100,000 0
Depreciation 54,540 87,871
Amortization of intangibles 2,381 9,043
(Earnings) loss from equity method investments, net of distributions 1,216 7,891
Loss on sale of investment 10,780 0
(Gain) loss on sales of property, plant and equipment (2,575) (3,552)
Amortization of stock-based awards 9,356 29,803
Deferred compensation trust 10,881 (34,412)
Deferred compensation obligation (12,486) 36,593
Deferred taxes (17,424) (127,665)
Net retirement plan accrual (contributions) (7,234) (1,827)
Changes in assets and liabilities (115,170) 541,543
Operating cash flow 6,931 4,777
Operating cash flow 64,088 91,435
INVESTING CASH FLOW    
Purchases of marketable securities (12,495) (23,409)
Proceeds from the sales and maturities of marketable securities 6,995 164,964
Capital expenditures (58,959) (100,840)
Proceeds from sales of property, plant and equipment 24,348 25,179
Investments in partnerships and joint ventures (24,022) (27,056)
Other 4,534 5,164
Investing cash flow (59,599) 44,002
FINANCING CASH FLOW    
Dividends paid (28,720) (59,324)
Other borrowings 20,567 12,637
Distributions paid to NCI (10,831) (15,572)
Capital contributions by NCI 39,520 7,821
Taxes paid on vested restricted stock (1,313) (3,572)
Other (1,435) 201
Financing cash flow 17,788 (57,809)
Effect of exchange rate changes on cash (49,883) 14,911
Increase (decrease) in cash and cash equivalents (27,606) 92,539
Cash and cash equivalents at beginning of period 1,997,199 1,764,746
Cash and cash equivalents at end of period $ 1,969,593 $ 1,857,285