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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net income $ 624.6 $ 337.4
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion, and amortization of intangibles 311.1 309.0
Amortization of deferred financing costs 2.0 1.9
Share-based compensation expense 26.9 23.8
Deferred income tax provision 41.7 21.1
Loss on asset disposals 7.3 4.1
Goodwill impairment 0.0 55.2
Pension and post-retirement benefits expense, net of contributions (50.4) (68.1)
Other, net 8.9 18.8
(Increase) decrease in assets -    
Accounts receivable (234.3) (19.0)
Inventories (92.3) 16.5
Prepaid expenses and other current assets (11.8) (5.6)
Increase (decrease) in liabilities -    
Accounts payable 22.3 (6.2)
Accrued liabilities 53.5 29.0
Federal and state income taxes payable / receivable (6.1) 43.8
Net cash provided by operating activities 703.4 761.7
Cash Flows from Investing Activities:    
Additions to property, plant, and equipment (366.2) (253.5)
Additions to other long term assets (1.8) (6.2)
Proceeds from asset disposals 2.6 4.4
Purchases of marketable debt securities (100.3) (71.5)
Proceeds from sales of marketable debt securities 17.7 17.2
Proceeds from maturities of marketable debt securities 83.0 53.7
Net cash used for investing activities (365.0) (255.9)
Cash Flows from Financing Activities:    
Repayments of debt and finance lease obligations (1.2) (1.1)
Proceeds from issuance of debt 696.3 0.0
Financing costs paid (8.5) 0.0
Common stock dividends paid (284.8) (224.6)
Shares withheld to cover employee restricted stock taxes (11.9) (10.5)
Net cash provided by (used for) financing activities 389.9 (236.2)
Net increase in cash and cash equivalents 728.3 269.6
Cash and cash equivalents, beginning of period 974.6 679.5
Cash and cash equivalents, end of period $ 1,702.9 $ 949.1