XML 19 R6.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net earnings (loss) $ (271,592) $ 143,019 $ 79,078
Adjustments to reconcile net earnings (loss) to net cash provided by operations:      
Depreciation and amortization 219,921 219,632 224,972
Provision (credit) for doubtful accounts 3,716 (873) 1,289
Provision for deferred income taxes 25,163 46,839 34,881
Gain on disposition of assets (118) (8,152) (1,968)
Impairments and other charges 561,274 35,525 85,407
Amortization of unearned share-based compensation 14,722 13,612 19,104
Amortization of major maintenance costs 30,214 23,962 20,760
Other (90) 1,683 863
Increase (decrease) in cash flows resulting from changes in:      
Accounts receivable (124,941) 43,078 12,511
Inventory 47,076 122,773 (144,685)
Other assets (29,994) (25,470) (38,090)
Income taxes payable 8,826 (2,503) (457)
Accounts payable (39,795) (57,405) 22,622
Accrued and other liabilities 558 (43,907) 30,712
Net cash provided by operating activities 444,940 511,813 346,999
Cash flows from investing activities:      
Capital expenditures (148,185) (248,164) (301,861)
Acquisitions of businesses and marine equipment, net of cash acquired (354,972) (262,491) (533,897)
Proceeds from disposition of assets and other 17,310 57,657 53,142
Net cash used in investing activities (485,847) (452,998) (782,616)
Cash flows from financing activities:      
Borrowings (payments) on bank credit facilities, net 250,024 (417,376) (78,455)
Borrowings on long-term debt 0 500,000 499,295
Payments on long-term debt (150,000) (125,000) 0
Payment of debt issue costs 0 (2,397) (4,276)
Return of investment to noncontrolling interests (676) (817) (915)
Proceeds from exercise of stock options 353 5,743 13,264
Purchase of treasury stock 0 0 (776)
Payments related to tax withholding for share-based compensation (3,193) (2,031) (4,822)
Net cash provided by (used in) financing activities 96,508 (41,878) 423,315
Increase (decrease) in cash and cash equivalents 55,601 16,937 (12,302)
Cash and cash equivalents, beginning of year 24,737 7,800 20,102
Cash and cash equivalents, end of year 80,338 24,737 7,800
Cash paid (received) during the period:      
Interest paid 48,721 55,766 40,772
Income taxes paid (refunded) (35,571) 2,926 640
Operating cash outflow from operating leases 43,639 39,376 0
Non-cash investing activity:      
Capital expenditures included in accounts payable (13,280) 13,875 (16,441)
Cash acquired in acquisition 557 0 2,313
Right-of-use assets obtained in exchange for lease obligations $ 46,511 $ 21,195 $ 0