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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Net income $ 102,751 $ 86,239
Operating activities:    
Income (loss) from discontinued operations, net of tax (1,483) 203
Income from continuing operations 104,234 86,036
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, depletion and amortization 122,916 106,282
Deferred income taxes 22,753 4,186
Changes in current assets and liabilities, net of acquisitions:    
Receivables (171,304) (13,853)
Inventories (36,302) (47,396)
Other current assets (32,088) 29,072
Accounts payable 1,398 15,748
Other current liabilities 15,585 7,849
Other noncurrent changes (50,822) (11,566)
Net cash provided by (used in) continuing operations (23,630) 176,358
Net cash provided by discontinued operations 735 224
Net cash provided by (used in) operating activities (22,895) 176,582
Investing activities:    
Capital expenditures (281,674) (210,612)
Acquisitions, net of cash acquired (30,868) (20,009)
Net proceeds from sale or disposition of property and other 8,197 9,286
Investments (713) (916)
Net cash used in investing activities (305,058) (222,251)
Financing activities:    
Issuance of short-term borrowings 119,977 0
Repayment of short-term borrowings (30,000) 0
Issuance of long-term debt 368,975 240,746
Repayment of long-term debt (99,961) (103,521)
Proceeds from issuance of common stock 69,565 0
Dividends paid (79,570) (77,145)
Repurchase of common stock 0 (5,020)
Tax withholding on stock-based compensation (3,015) (2,330)
Net cash provided by financing activities 345,971 52,730
Effect of Exchange Rate on Cash and Cash Equivalents 0 (1)
Increase in cash and cash equivalents 18,018 7,060
Cash and cash equivalents -- beginning of year 53,948 34,599
Cash and cash equivalents -- end of period $ 71,966 $ 41,659