XML 22 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 64,315 $ 57,972
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 126,152 107,417
Accretion of asset retirement obligation 3,895 3,083
Stock-based compensation 9,845 7,301
Income attributable to sale of tax benefits, net of interest expense (16,519) (16,432)
Equity in earnings of investees (2,061) (2,267)
Mark-to-market of derivative instruments 1,279 591
Disposal of property, plant and equipment 38 23
Write-off of unsuccessful exploration activities 1,379 0
Write-off of long-lived assets 957 0
Loss (gain) on severance pay fund asset (43) 296
Loss on foreign currency exchange rates 963 0
Deferred income tax provision (18,266) (13,933)
Liability for unrecognized tax benefits (1,153) 125
Changes in operating assets and liabilities, net of businesses acquired:    
Receivables 53,147 (29,603)
Costs and estimated earnings in excess of billings on uncompleted contracts (11,352) (5,381)
Long-term costs and estimated earnings in excess of billings on uncompleted contracts (5,370) 0
Inventories 390 (15,068)
Prepaid expenses and other (14,004) (4,271)
Change in operating lease right of use asset 1,912 1,440
Deposits and other 287 (5,156)
Accounts payable and accrued expenses (42,765) 25,020
Billings in excess of costs and estimated earnings on uncompleted contracts (2,392) 9,866
Liabilities for severance pay (1,835) (750)
Change in operating lease liabilities (2,677) (922)
Other long-term liabilities (218) 11,154
Net cash provided by operating activities 145,904 130,505
Cash flows from investing activities:    
Capital expenditures (250,225) (266,713)
Investment in unconsolidated companies (1,225) (8,101)
Cash paid for business acquisition, net of cash acquired (274,632) 0
Decrease (increase) in severance pay fund asset, net of payments made to retired employees 1,120 (128)
Net cash used in investing activities (524,962) (274,942)
Cash flows from financing activities:    
Proceeds from long-term loans, net of transaction costs 392,791 99,850
Proceeds from exercise of options by employees 149 27
Proceeds from revolving credit lines with banks 40,000 0
Repayment of revolving credit lines with banks (60,000) 0
Cash received from noncontrolling interest 12,251 7,341
Repayments of long-term debt (108,644) (115,182)
Proceeds from issuance of common stock, net of related costs 0 341,663
Cash paid to noncontrolling interest (4,007) (3,584)
Payments under finance lease obligations (687) (955)
Deferred debt issuance costs (2,073) (2,112)
Cash dividends paid (14,587) (13,961)
Net cash provided by financing activities 255,193 313,087
Effect of exchange rate changes (163) 56
Net change in cash and cash equivalents and restricted cash and cash equivalents (124,028) 168,706
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 287,770 226,676
Cash and cash equivalents and restricted cash and cash equivalents at end of period 163,742 395,382
Supplemental non-cash investing and financing activities:    
Change in accounts payable related to purchases of property, plant and equipment (22,265) (15,253)
Right of use assets obtained in exchange for new lease liabilities $ 3,548 $ 3,196