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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income $ 378,131 $ 390,205 $ 335,453
Income (loss) from discontinued operations, net of tax 400 (322) 287
Income from continuing operations 377,731 390,527 335,166
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 299,214 285,100 256,017
Deferred income taxes 60,250 (1,801) 63,415
Provision for credit losses 1,085 10,576 7,864
Amortization of debt issuance costs 1,333 2,162 1,330
Employee stock-based compensation costs 14,709 13,096 7,353
Pension & postretirement benefit plan net periodic benefit cost (credit) (4,900) (3,001) 703
Unrealized gains on investments (7,728) (14,563) (11,445)
Gains on sales of assets (13,056) (15,350) (15,479)
Changes in current assets and liabilities, net of acquisitions:      
Receivables (60,024) (2,780) (112,238)
Inventories (42,302) (7,221) 9,331
Other current assets (71,964) 31,601 (38,283)
Accounts payable 15,247 15,955 30,079
Other current liabilities (17,650) 35,591 51,278
Pension & postretirement benefit plan contributions (476) (434) (25,613)
Other noncurrent changes (55,367) 30,291 (17,662)
Net cash provided by continuing operations 496,102 769,749 541,816
Net cash provided by (used in) discontinued operations (325) (1,375) 464
Net cash provided by operating activities 495,777 768,374 542,280
Investing activities:      
Capital expenditures (659,425) (558,007) (576,065)
Acquisitions, net of cash acquired (237,718) (105,979) (55,597)
Net proceeds from sale or disposition of property and other 15,238 35,557 29,812
Investments (3,973) (1,814) (2,011)
Net cash used in investing activities (885,878) (630,243) (603,861)
Financing activities:      
Issuance of short-term borrowings 50,000 75,000 170,000
Repayment of short-term borrowings (100,000) (25,000) (170,000)
Issuance of long-term debt 554,027 117,450 603,969
Repayment of long-term debt (24,979) (148,634) (468,917)
Debt issuance costs (918) (477) (4,537)
Proceeds from issuance of common stock 88,767 3,385 106,848
Dividends paid (171,354) (166,405) (160,256)
Repurchase of common stock (6,701) 0 0
Tax withholding on stock-based compensation (4,127) (362) (3,015)
Net cash provided by (used in) financing activities 384,715 (145,043) 74,092
Increase (decrease) in cash and cash equivalents (5,386) (6,912) 12,511
Cash and cash equivalents - beginning of year 59,547 66,459 53,948
Cash and cash equivalents - end of year $ 54,161 $ 59,547 $ 66,459