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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:      
Net income $ 805.1 $ 765.2 $ 1,029.8
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion, and amortization of intangibles 525.6 517.7 456.8
Amortization of deferred financing costs 2.3 2.2 2.1
Share-based compensation expense 48.8 40.0 35.6
Deferred income tax (benefit) provision (4.2) 5.2 86.0
Net loss on asset disposals 19.5 9.1 15.2
Pension and post-retirement benefits expense, net of contributions (19.5) (30.8) (47.4)
Other, net 24.2 13.3 2.0
(Increase) decrease in assets -      
Accounts receivable (110.7) (1.4) 39.3
Inventories (111.8) (35.8) (75.2)
Prepaid expenses and other current assets (104.7) (4.2) (11.0)
Increase (decrease) in liabilities —      
Accounts payable 18.3 11.4 (18.1)
Accrued liabilities 104.2 (8.2) 8.3
Federal and state income tax payable / receivable (5.9) 31.4 (28.4)
Net cash provided by operating activities 1,191.2 1,315.1 1,495.0
Cash Flows from Investing Activities:      
Additions to property, plant, and equipment (669.7) (469.7) (824.2)
Additions to other long-term assets (1.9) (2.6) (6.2)
Proceeds from asset disposals 1.3 1.6 2.2
Purchases of held-to-maturity debt securities 0.0 (400.0) 0.0
Proceeds from maturities of held-to-maturity debt securities 400.0 0.0 0.0
Purchases of available-for-sale debt securities (114.3) (107.2) (126.1)
Proceeds from sales of available-for-sale debt securities 8.6 5.5 31.1
Proceeds from maturities of available-for-sale debt securities 98.2 97.3 87.6
Other, net 0.0 0.0 1.9
Net cash provided by (used for) investing activities (277.8) (875.1) (833.7)
Cash Flows from Financing Activities:      
Repayments of debt and finance lease obligations (401.9) (1.9) (1.7)
Net proceeds received from issuance of debt 0.0 397.1 0.0
Financing costs paid 0.0 (1.1) 0.0
Common stock dividends paid (448.8) (448.9) (420.3)
Repurchases of common stock 0.0 (41.5) (522.6)
Shares withheld to cover employee restricted stock taxes (25.7) (15.7) (15.4)
Net cash used for financing activities (876.4) (112.0) (960.0)
Net increase (decrease) in cash and cash equivalents 37.0 328.0 (298.7)
Cash and cash equivalents, beginning of year 648.0 320.0 618.7
Cash and cash equivalents, end of year $ 685.0 $ 648.0 $ 320.0