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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 124,833 $ 102,751
Loss from discontinued operations, net of tax (548) (1,483)
Income from continuing operations 125,381 104,234
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, depletion and amortization 140,747 122,916
Deferred income taxes 2,881 22,753
Changes in current assets and liabilities, net of acquisitions:    
Receivables (40,801) (171,304)
Inventories (26,276) (36,302)
Other current assets 30,790 (32,088)
Accounts payable 13,387 1,398
Other current liabilities 26,612 15,585
Other noncurrent changes (10,923) (50,822)
Net cash provided by (used in) continuing operations 261,798 (23,630)
Net cash provided by (used in) discontinued operations (396) 735
Net cash provided by (used in) operating activities 261,402 (22,895)
Investing activities:    
Capital expenditures (248,800) (281,674)
Acquisitions, net of cash acquired (70,729) (30,868)
Net proceeds from sale or disposition of property and other 22,968 8,197
Investments 23 (713)
Net cash used in investing activities (296,538) (305,058)
Financing activities:    
Issuance of short-term borrowings 75,000 119,977
Repayment of short-term borrowings 0 (30,000)
Issuance of long-term debt 200,400 368,975
Repayment of long-term debt (162,225) (99,961)
Proceeds from issuance of common stock 3,410 69,565
Dividends paid (83,188) (79,570)
Tax withholding on stock-based compensation (362) (3,015)
Net cash provided by financing activities 33,035 345,971
Increase (decrease) in cash and cash equivalents (2,101) 18,018
Cash and cash equivalents -- beginning of year 66,459 53,948
Cash and cash equivalents -- end of period $ 64,358 $ 71,966