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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income $ 250,401 $ 291,597
Discontinued operations, net of tax 103 348
Income from continuing operations 250,298 291,249
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 247,173 222,613
Deferred income taxes 18,741 30,353
Provision for credit losses 3,258 (801)
Amortization of debt issuance costs 1,080 997
Employee stock-based compensation costs 6,488 11,649
Pension and postretirement benefit plan net periodic benefit credit (4,515) (3,690)
Unrealized (gains) losses on investments 15,529 (4,408)
Gains on sales of assets (8,500) (10,518)
Changes in current assets and liabilities, net of acquisitions:    
Receivables (346,879) (103,637)
Inventories (60,670) (21,402)
Other current assets (31,405) (74,413)
Accounts payable 148,456 33,173
Other current liabilities 62,106 14,175
Pension and postretirement benefit plan contributions (375) (326)
Other noncurrent changes (15,835) (19,129)
Net cash provided by continuing operations 284,950 365,885
Net cash used in discontinued operations (17) (75)
Net cash provided by operating activities 284,933 365,810
Investing activities:    
Capital expenditures (463,002) (428,114)
Acquisitions, net of cash acquired 450 (13,721)
Net proceeds from sale or disposition of property and other 1,615 12,954
Investments (4,411) (3,777)
Net cash used in investing activities (465,348) (432,658)
Financing activities:    
Issuance of short-term borrowings 100,000 50,000
Repayment of short-term borrowings 0 (50,000)
Issuance of long-term debt 270,250 178,879
Repayment of long-term debt (23,155) (63,835)
Debt issuance costs (1,082) (362)
Net proceeds from issuance of common stock (149) 88,830
Dividends paid (132,687) (128,142)
Repurchase of common stock (7,399) (6,701)
Tax withholding on stock-based compensation (4,904) (4,127)
Net cash provided by financing activities 200,874 64,542
Increase (decrease) in cash and cash equivalents 20,459 (2,306)
Cash and cash equivalents -- beginning of year 54,161 59,547
Cash and cash equivalents -- end of period $ 74,620 $ 57,241