XML 55 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 131,241 $ 133,137 $ 77,795
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 262,863 224,797 198,792
Accretion of asset retirement obligation 7,747 6,164 5,257
Stock-based compensation 20,197 15,478 11,646
Income attributable to sale of tax benefits, net of interest expense (22,145) (23,462) (13,153)
Equity in losses (earnings) of investees, net 425 (35) 3,072
Mark-to-market of derivative instruments 856 (2,206) 1,613
Loss (gain) on disposal of property, plant and equipment 101 35 (89)
Write-off of unsuccessful exploration activities 3,930 3,733 828
Impairment of long-lived assets 1,280 0 32,648
Loss from prepayment of a long-term loan 0 0 1,102
Loss (gain) on severance pay fund asset (413) 154 1,019
Loss (gain) on foreign currency exchange rate 3,428 0 0
Deferred income tax provision 5,300 (6,017) (18,979)
Liability for unrecognized tax benefits (2,401) 2,114 829
Other 0 0 575
Changes in operating assets and liabilities, net of businesses acquired:      
Receivables 27,172 (97,640) (19,929)
Costs and estimated earnings in excess of billings on uncompleted contracts (11,614) (1,962) (6,713)
Long-term costs and estimated earnings in excess of billings on uncompleted contracts (26,033) 0 0
Inventories 6,945 (22,205) 5,613
Prepaid expenses and other (8,510) (3,248) 4,888
Change in operating lease right of use asset 4,368 3,761 2,717
Deposits and other (4,491) (7,900) 2,571
Accounts payable and accrued expenses 11,426 68,590 (2,045)
Billings in excess of costs and estimated earnings on uncompleted contracts 5,330 9,884 (463)
Liabilities for severance pay (1,356) (989) (2,861)
Change in operating lease liabilities (9,472) (3,435) (3,581)
Other liabilities, net 4,745 10,653 (2,178)
Net cash provided by operating activities 410,919 309,401 280,974
Cash flows from investing activities:      
Purchase of marketable securities 0 0 (19,192)
Maturities of marketable securities 0 0 32,645
Sale of marketable securities 0 0 29,355
Capital expenditures (487,678) (618,383) (563,476)
Cash received from insurance recoveries 0 0 600
Investment in unconsolidated companies (18,969) (10,181) (4,509)
Cash paid for acquisition of a business, net of cash acquired (274,631) 0 0
Decrease (increase) in severance pay fund asset, net of payments made to retired employees 1,024 221 1,171
Net cash used in investing activities (780,254) (628,343) (523,406)
Cash flows from financing activities:      
Proceeds from long-term loans, net of transaction costs 514,630 149,837 135,259
Proceeds from exercise of options by employees 0 314 39
Proceeds from issuance of common stock, net of stock issuance costs 0 341,671 0
Proceeds from issuance of convertible notes, net of transaction costs 44,041 0 419,698
Purchase of capped call instruments 0 0 (24,538)
Purchase of treasury stock 0 0 (17,964)
Proceeds from the sale of limited liability company interest, net of transaction costs 0 42,329 50,330
Repayments of commercial paper and prepayments of long-term debt 0 0 (219,126)
Proceeds from issuance of commercial paper, net of transaction costs 0 99,971 0
Proceeds from revolving credit lines with banks 185,500 55,000 0
Repayment of revolving credit lines with banks (205,500) (35,000) 0
Cash received from noncontrolling interest 12,251 7,341 5,443
Transaction with noncontrolling interest (9,803) (30,000) 0
Repayments of long-term debt and financing liability (209,280) (207,039) (185,163)
Cash paid to noncontrolling interest (6,373) (9,856) (5,880)
Payments under finance lease obligations (1,383) (1,963) (2,983)
Deferred debt issuance costs (7,058) (4,229) (1,699)
Cash dividends paid (29,109) (28,412) (27,143)
Net cash provided by (used in) financing activities 287,916 379,964 126,273
Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents (579) 72 (609)
Net change in cash and cash equivalents and restricted cash and cash equivalents (81,998) 61,094 (116,768)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 287,770 226,676 343,444
Cash and cash equivalents and restricted cash and cash equivalents at end of period 205,772 287,770 226,676
Supplemental disclosure of cash flow information:      
Interest, net of interest capitalized 102,605 72,236 69,132
Income taxes, net 26,183 26,250 29,004
Supplemental non-cash investing and financing activities:      
Increase (decrease) in accounts payable related to purchases of property, plant and equipment (2,501) (12,417) 4,764
Right of use assets obtained in exchange for new lease liabilities 13,360 6,402 8,759
Increase in asset retirement cost and asset retirement obligation $ 740 $ 10,546 $ 7,512