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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 335,453 $ 272,318 $ 281,203
Income (loss) from discontinued operations, net of tax 287 2,932 (3,783)
Income from continuing operations 335,166 269,386 284,986
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 256,017 220,205 207,486
Deferred income taxes 63,415 59,735 (25,423)
Changes in current assets and liabilities, net of acquisitions:      
Receivables (104,374) 28,234 (108,255)
Inventories 9,331 (46,796) 9,135
Other current assets (38,283) (31,814) (30,588)
Accounts payable 30,079 21,109 26,013
Other current liabilities 51,278 22,285 4,648
Other noncurrent changes (60,813) (38,521) (18,790)
Net cash provided by continuing operations 541,816 503,823 349,212
Net cash provided by (used in) discontinued operations 464 (3,942) 98,799
Net cash provided by operating activities 542,280 499,881 448,011
Investing activities:      
Capital expenditures (576,065) (568,230) (341,382)
Acquisitions, net of cash acquired (55,597) (167,692) 0
Net proceeds from sale or disposition of property and other 29,812 26,100 126,588
Investments (2,011) (2,321) (1,608)
Net cash used in continuing operations (603,861) (712,143) (216,402)
Net cash provided by discontinued operations 0 1,236 2,234
Net cash used in investing activities (603,861) (710,907) (214,168)
Financing activities:      
Issuance of short-term borrowings 169,977 0 0
Repayment of short-term borrowings (170,000) 0 0
Issuance of long-term debt 599,455 566,829 140,812
Repayment of long-term debt (468,917) (174,520) (217,394)
Proceeds from issuance of common stock 106,848 0 0
Payments of stock issuance costs 0 (10) 0
Dividends paid (160,256) (154,573) (150,727)
Redemption of preferred stock 0 0 (15,600)
Repurchase of common stock 0 (5,020) (1,684)
Tax withholding on stock-based compensation (3,015) (2,330) (757)
Net cash provided by (used in) financing activities 74,092 230,376 (245,350)
Effect of exchange rate changes on cash and cash equivalents 0 (1) (1)
Increase (decrease) in cash and cash equivalents 12,511 19,349 (11,508)
Cash and cash equivalents - beginning of year 53,948 34,599 46,107
Cash and cash equivalents - end of year $ 66,459 $ 53,948 $ 34,599