XML 22 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 41,034 $ 40,350
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 69,777 62,351
Accretion of asset retirement obligation 2,099 1,910
Stock-based compensation 4,911 4,769
Income attributable to sale of tax benefits, net of interest expense (6,663) (8,627)
Equity in losses (earnings) of investees 367 (829)
Mark-to-market of derivative instruments 939 813
Disposal of property, plant and equipment (321) (312)
Write-off of unsuccessful exploration and storage activities 516 0
Loss (gain) on severance pay fund asset 26 (97)
Loss (gain) on foreign currency exchange rates (2,416) 741
Deferred income tax provision (9,401) (9,683)
Liability for unrecognized tax benefits 209 582
Changes in operating assets and liabilities, net of businesses acquired:    
Receivables (14,645) 57,193
Costs and estimated earnings in excess of billings on uncompleted contracts 8,452 (5,249)
Long-term costs and estimated earnings in excess of billings on uncompleted contracts (15,122) 0
Inventories (4,015) (8,837)
Prepaid expenses and other (4,571) (3,710)
Change in operating lease right of use asset 1,165 935
Deposits and other 2,274 262
Accounts payable and accrued expenses (11,821) (16,333)
Billings in excess of costs and estimated earnings on uncompleted contracts 28,884 2,707
Liabilities for severance pay 659 (1,141)
Change in operating lease liabilities (1,060) (816)
Other long-term liabilities (3,269) (1,770)
Net cash provided by operating activities 88,010 115,209
Cash flows from investing activities:    
Capital expenditures (192,602) (103,386)
Investment in unconsolidated companies (15,296) (608)
Cash paid for business acquisition, net of cash acquired 0 (274,631)
Decrease (increase) in severance pay fund asset, net of payments to retired employees (50) 791
Net cash used in investing activities (207,948) (377,834)
Cash flows from financing activities:    
Proceeds from long-term loans, net of transaction costs 199,564 331,345
Proceeds from exercise of options by employees 754 55
Proceeds from revolving credit lines with banks 330,000 40,000
Repayment of revolving credit lines with banks (330,000) (60,000)
Cash received from noncontrolling interest 10,276 12,251
Repayments of long-term debt (57,708) (37,826)
Cash paid to noncontrolling interest (2,996) (3,168)
Payments under finance lease obligations (379) (352)
Debt issuance costs (3,385) (1,118)
Cash dividends paid (7,273) (7,243)
Net cash provided by financing activities 138,853 273,944
Effect of exchange rate changes 19 (128)
Net change in cash and cash equivalents and restricted cash and cash equivalents 18,933 11,191
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period 205,772 287,770
Cash and cash equivalents and restricted cash and cash equivalents at end of period 224,705 298,961
Supplemental non-cash investing and financing activities:    
Change in accounts payable related to purchases of property, plant and equipment (22,093) (3,158)
Right of use assets obtained in exchange for new lease liabilities $ 1,469 $ 1,897