XML 18 R6.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net earnings $ 40,621 $ 17,586
Adjustments to reconcile net earnings to net cash provided by operations:    
Depreciation and amortization 51,109 49,964
Provision for deferred income taxes 12,573 5,856
Amortization of share-based compensation 5,808 5,965
Amortization of major maintenance costs 6,992 7,113
Other (2,302) (3,480)
Decrease in cash flows resulting from changes in operating assets and liabilities, net (98,321) (50,782)
Net cash provided by operating activities 16,480 32,222
Cash flows from investing activities:    
Capital expenditures (73,199) (35,075)
Acquisitions of businesses 0 (3,900)
Proceeds from disposition of assets 8,031 14,280
Net cash used in investing activities (65,168) (24,695)
Cash flows from financing activities:    
Borrowings on bank credit facilities, net 112,691 1,163
Borrowings on long-term debt 240,000 0
Payments on long-term debt (350,000) (10,000)
Payment of debt issuance costs (1,236) 0
Proceeds from exercise of stock options 118 2,336
Payments related to tax withholding for share-based compensation (3,555) (3,093)
Treasury stock purchases (3,184) 0
Return of investment to noncontrolling interest and other (24) (348)
Net cash used in financing activities (5,190) (9,942)
Decrease in cash and cash equivalents (53,878) (2,415)
Cash and cash equivalents, beginning of year 80,577 34,813
Cash and cash equivalents, end of period 26,699 32,398
Cash paid (received) during the period:    
Interest paid 20,293 18,022
Income taxes paid (refunded), net 694 (24)
Operating cash outflow from operating leases 10,451 11,040
Non-cash investing activity:    
Capital expenditures included in accounts payable (8,197) (487)
Right-of-use assets obtained in exchange for lease obligations $ 10,768 $ 6,464