XML 26 R9.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES:      
Net income (loss) $ (1,037,361) $ 136,276 $ 184,746
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:      
Depreciation, depletion, and amortization 354,830 404,943 333,907
Impairment of properties (Note 2) 1,634,628 158,069 0
(Gain) loss on derivatives (26,345) (30,147) 7,771
Cash (payments) receipts on derivatives settled 46,615 (6,038) (1,161)
(Gain) loss on disposition of assets 7,229 (8,953) (17,076)
Deferred tax expense (benefit) (606,332) 77,285 100,732
Employee stock compensation plans 21,468 24,320 21,317
Bad debt expense 1,191 3,562 0
ARO liability accretion 3,453 4,599 5,450
Other, net (1,517) 1,068 2,250
Changes in operating assets and liabilities increasing (decreasing) cash:      
Accounts receivable 105,426 (60,800) 2,967
Materials and supplies 1,507 2,602 (2,435)
Prepaid expenses and other (14,348) (444) 1,813
Accounts payable (20,306) 4,715 15,715
Accrued liabilities (22,920) (1,297) 17,198
Contract advances (274) (767) 1,137
Net cash provided by operating activities 446,944 708,993 674,331
INVESTING ACTIVITIES:      
Capital expeditures (561,453) (981,374) (703,984)
Producing property and other acquisitions (179) (5,723) 0
Proceeds from disposition of property and equipment 11,854 66,197 120,910
Other 0 303 3,894
Net cash used in investing activities (549,778) (920,597) (579,180)
FINANCING ACTIVITIES:      
Borrowings under line of credit 618,500 725,800 222,500
Payments under line of credit (503,500) (559,800) (293,600)
Payments on capitalized leases (3,549) (2,392) 0
Proceeds from exercise of stock options 0 1,083 574
Excess Tax Benefit from Share-based Compensation, Financing Activities (3,207) 1,614 8
Increase (decrease) in book overdrafts (Note 2) (5,624) 27,755 (7,014)
Net cash provided by (used in) financing activities 102,620 194,060 (77,532)
Net increase (decrease) in cash and cash equivalents (214) (17,544) 17,619
Cash and cash equivalents, beginning of year 1,049 18,593 974
Cash and cash equivalents, end of year 835 1,049 18,593
Supplemental disclosure of cash flow information:      
Interest paid (net of capitalization) 30,910 13,620 12,485
Income taxes 3,540 15,898 9,100
Changes in accounts payable and accrued liabilities related to purchases of property, plant, and equipment 105,157 (31,968) (6,550)
Non-cash reductions to oil and natural gas properties related to asset retirement obligations 5,694 37,689 17,952
Non-cash additions to property, plant, and equipment acquired under capital leases $ 0 $ (28,202) $ 0