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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net income $ 12,384 $ 235,928
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and depletion 50,848 47,911
Deferred income tax expense (benefit) (1,154) 60,954
Stock based compensation expense 3,724 2,649
Amortization of debt issuance costs and debt discount/premium, net 708 696
Accretion of asset retirement obligations 1,466 1,624
Loss on early extinguishment of debt 0 9,756
Changes in operating assets and liabilities:    
Trade accounts receivable 22,462 (22,435)
Income tax receivable 0 21,607
Inventories (45,594) (10,633)
Prepaid expenses and other receivables (5,693) 8,510
Accounts payable 17,379 5,819
Accrued expenses and other current liabilities (9,087) (12,968)
Other 5,543 8,420
Net cash provided by operating activities 52,986 357,838
INVESTING ACTIVITIES    
Purchase of property, plant and equipment (48,754) (52,100)
Deferred mine development costs (8,731) (12,069)
Proceeds from sale of property, plant and equipment 0 3,063
Sale of short-term investments 14,733 17,501
Purchases of short-term investments (8,500) (14,250)
Net cash used in investing activities (51,252) (57,855)
FINANCING ACTIVITIES    
Dividends paid (5,197) (235,210)
Borrowings under ABL Facility 70,000 0
Repayments under ABL Facility (30,000) 0
Retirements of debt 0 (140,272)
Principal repayments of finance lease obligations (7,985) (7,654)
Common shares repurchased 0 (1,970)
Other (1,272) (1,137)
Net cash provided by (used in) financing activities 25,546 (386,243)
Net increase (decrease) in cash and cash equivalents and restricted cash 27,280 (86,260)
Cash and cash equivalents and restricted cash at beginning of period 193,383 206,405
Cash and cash equivalents and restricted cash at end of period $ 220,663 $ 120,145