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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities:    
Net income $ 277,911 $ 240,388
Income (loss) from discontinued operations, net of tax (484) 26
Income from continuing operations 278,395 240,362
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 212,832 187,937
Deferred income taxes 16,409 49,222
Changes in current assets and liabilities, net of acquisitions:    
Receivables (100,141) (238,373)
Inventories (9,581) 2,480
Other current assets 1,269 (69,105)
Accounts payable 19,125 13,062
Other current liabilities 74,286 53,458
Other noncurrent changes (10,139) (35,361)
Net cash provided by continuing operations 482,455 203,682
Net cash used in discontinued operations (688) (579)
Net cash provided by operating activities 481,767 203,103
Investing activities:    
Capital expenditures (413,842) (423,036)
Acquisitions, net of cash acquired (71,479) (53,263)
Net proceeds from sale or disposition of property and other 23,463 28,391
Investments 24 (717)
Net cash used in investing activities (461,834) (448,625)
Financing activities:    
Issuance of short-term borrowings 75,000 169,977
Repayment of short-term borrowings 0 (30,000)
Issuance of long-term debt 100,125 302,724
Repayment of long-term debt (73,699) (166,956)
Proceeds from issuance of common stock 3,410 105,639
Dividends paid (124,796) (119,795)
Tax withholding on stock-based compensation (362) (3,015)
Net cash provided by (used in) financing activities (20,322) 258,574
Increase (decrease) in cash and cash equivalents (389) 13,052
Cash and cash equivalents -- beginning of year 66,459 53,948
Cash and cash equivalents -- end of period $ 66,070 $ 67,000