XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income $ 38,353 $ 31,763
Discontinued operations, net of tax 10 30
Income from continuing operations 38,343 31,733
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation, depletion and amortization 81,862 80,121
Deferred income taxes 8,856 (6,466)
Provision for credit losses 4,193 1,735
Amortization of debt issuance costs 380 341
Employee stock-based compensation costs 3,108 2,689
Pension and postretirement benefit plan net periodic benefit credit (1,090) (1,491)
Unrealized (gains) losses on investments (3,957) 5,147
Gains on sales of assets (4,361) (3,136)
Changes in current assets and liabilities, net of acquisitions:    
Receivables 14,969 (5,723)
Inventories (40,885) (44,080)
Other current assets (58,308) 34,491
Accounts payable (93,549) 2,980
Other current liabilities 16,715 13,086
Pension and postretirement benefit plan contributions (159) (149)
Other noncurrent changes (9,794) 1,139
Net cash provided by (used in) continuing operations (43,677) 112,417
Net cash provided by (used in) discontinued operations 29 (7)
Net cash provided by (used in) operating activities (43,648) 112,410
Investing activities:    
Capital expenditures (154,049) (150,288)
Acquisitions, net of cash acquired 0 (524)
Net proceeds from sale or disposition of property and other 7,282 4,586
Investments (4,257) (4,442)
Net cash used in investing activities (151,024) (150,668)
Financing activities:    
Issuance of short-term borrowings 275,000 100,000
Repayment of short-term borrowings (20,000) 0
Issuance of long-term debt 175,446 150,000
Repayment of long-term debt (169,891) (143,622)
Debt issuance costs (114) (718)
Net proceeds from issuance of common stock 0 (127)
Dividends paid (45,246) (44,229)
Repurchase of common stock (4,811) (7,399)
Tax withholding on stock-based compensation (3,040) (4,904)
Net cash provided by financing activities 207,344 49,001
Increase in cash and cash equivalents 12,672 10,743
Cash and cash equivalents -- beginning of year 80,517 54,161
Cash and cash equivalents -- end of period $ 93,189 $ 64,904