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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 681,070 $ 557,043 $ 100,393
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation, depletion and amortization 405,733 417,479 568,817
Impairment of oil and gas properties 0 0 482,811
Deferred income tax expense (benefit) 244,418 229,603 (321,113)
Loss on sale of assets 1,462 16,327 11,565
Exploratory dry hole cost 2,236 97,741 3,820
Gain on derivative instruments (80,808) (44,432) (16,926)
Net cash received (paid) in settlement of derivative instruments 138,450 (41,631) 8,056
(Earnings) loss on equity method investments (80,496) (1,137) 100,486
Distribution of earnings from equity method investments 15,725 1,296 0
Amortization of debt issuance costs 3,966 4,631 4,774
Stock-based compensation and other 29,009 31,443 33,419
Changes in assets and liabilities:      
Accounts receivable, net 153,379 (146,921) (25,036)
Income taxes (13,514) (59,616) (46,368)
Inventories (2,856) (3,927) 1,334
Other current assets 180 934 (104)
Accounts payable and accrued liabilities (30,176) 30,468 (2,552)
Interest payable (166) (7,477) (75)
Other assets and liabilities (21,821) 23,079 (5,141)
Net cash provided by operating activities 1,445,791 1,104,903 898,160
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (788,368) (894,470) (764,558)
Proceeds from sale of assets 2,600 678,350 115,444
Investment in equity method investments (9,338) (77,263) (57,039)
Distribution of investment from equity method investments 1,728 0 0
Proceeds from sale of equity method investments 249,463 0 0
Net cash used in investing activities (543,915) (293,383) (706,153)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings from debt 95,000 158,000 0
Repayments of debt (102,000) (455,000) 0
Treasury stock repurchases (519,863) (872,761) (123,741)
Dividends paid (145,515) (111,369) (78,838)
Tax withholding on vesting of stock awards (10,590) (8,150) (7,973)
Capitalized debt issuance costs (7,412) 0 0
Other 0 0 50
Net cash used in financing activities (690,380) (1,289,280) (210,502)
Net increase (decrease) in cash, cash equivalents and restricted cash 211,496 (477,760) (18,495)
Cash, cash equivalents and restricted cash, beginning of period 2,287 480,047 498,542
Cash, cash equivalents and restricted cash, end of period $ 213,783 $ 2,287 $ 480,047