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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income $ 25,130 $ 40,926
Loss from discontinued operations, net of tax (409) (163)
Income from continuing operations 25,539 41,089
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 69,239 59,897
Deferred income taxes 1,813 12,658
Changes in current assets and liabilities, net of acquisitions:    
Receivables 44,549 (2,641)
Inventories (29,337) (21,407)
Other current assets 14,959 (31,586)
Accounts payable (24,105) 356
Other current liabilities (23,259) (6,310)
Other noncurrent changes 326 (49,965)
Net cash provided by continuing operations 79,724 2,091
Net cash used in discontinued operations (434) (507)
Net cash provided by operating activities 79,290 1,584
Investing activities:    
Capital expenditures (139,485) (133,839)
Acquisitions, net of cash acquired (67,593) (30,868)
Net proceeds from sale or disposition of property and other 4,540 4,938
Investments 68 (340)
Net cash used in investing activities (202,470) (160,109)
Financing activities:    
Issuance of short-term borrowings 0 70,000
Issuance of long-term debt 248,021 141,338
Repayment of long-term debt (36,242) (52,964)
Proceeds from issuance of common stock 3,410 38,634
Dividends paid (41,580) (39,695)
Tax withholding on stock-based compensation (362) (3,015)
Net cash provided by financing activities 173,247 154,298
Increase (decrease) in cash and cash equivalents 50,067 (4,227)
Cash and cash equivalents -- beginning of year 66,459 53,948
Cash and cash equivalents -- end of period $ 116,526 $ 49,721