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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 390,205 $ 335,453 $ 272,318
Income (loss) from discontinued operations, net of tax (322) 287 2,932
Income from continuing operations 390,527 335,166 269,386
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 285,100 256,017 220,205
Deferred income taxes (1,801) 63,415 59,735
Changes in current assets and liabilities, net of acquisitions:      
Receivables 7,796 (104,374) 28,234
Inventories (7,221) 9,331 (46,796)
Other current assets 31,601 (38,283) (31,814)
Accounts payable 15,955 30,079 21,109
Other current liabilities 35,591 51,278 22,285
Other noncurrent changes 12,201 (60,813) (38,521)
Net cash provided by continuing operations 769,749 541,816 503,823
Net cash provided by (used in) discontinued operations (1,375) 464 (3,942)
Net cash provided by operating activities 768,374 542,280 499,881
Investing activities:      
Capital expenditures (558,007) (576,065) (568,230)
Acquisitions, net of cash acquired (105,979) (55,597) (167,692)
Net proceeds from sale or disposition of property and other 35,557 29,812 26,100
Investments (1,814) (2,011) (2,321)
Net cash used in continuing operations (630,243) (603,861) (712,143)
Net cash provided by discontinued operations 0 0 1,236
Net cash used in investing activities (630,243) (603,861) (710,907)
Financing activities:      
Issuance of short-term borrowings 75,000 169,977 0
Repayment of short-term borrowings (25,000) (170,000) 0
Issuance of long-term debt 116,973 599,455 566,829
Repayment of long-term debt (148,634) (468,917) (174,520)
Proceeds from issuance of common stock 3,385 106,848 0
Payments of stock issuance costs 0 0 (10)
Dividends paid (166,405) (160,256) (154,573)
Repurchase of common stock 0 0 (5,020)
Tax withholding on stock-based compensation (362) (3,015) (2,330)
Net cash provided by (used in) financing activities (145,043) 74,092 230,376
Effect of exchange rate changes on cash and cash equivalents 0 0 (1)
Increase (decrease) in cash and cash equivalents (6,912) 12,511 19,349
Cash and cash equivalents - beginning of year 66,459 53,948 34,599
Cash and cash equivalents - end of year $ 59,547 $ 66,459 $ 53,948