XML 23 R7.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 200,529 $ 681,070 $ 557,043
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 390,903 405,733 417,479
Deferred income tax expense 71,777 244,418 229,603
Loss on sale of assets 491 1,462 16,327
Exploratory dry hole cost 3,632 2,236 97,741
Gain on derivative instruments (61,404) (80,808) (44,432)
Net cash received (paid) in settlement of derivative instruments 35,218 138,450 (41,631)
Loss (earnings) on equity method investments 59 (80,496) (1,137)
Distribution of earnings from equity method investments 0 15,725 1,296
Amortization of debt issuance costs 2,961 3,966 4,631
Stock-based compensation and other 40,796 29,009 31,443
Changes in assets and liabilities:      
Accounts receivable, net (5,700) 153,379 (146,921)
Income taxes 123,624 (13,514) (59,616)
Inventories (1,981) (2,856) (3,927)
Other current assets 34 180 934
Accounts payable and accrued liabilities (30,040) (30,176) 30,468
Interest payable (2,162) (166) (7,477)
Other assets and liabilities 9,498 (21,821) 23,079
Net cash provided by operating activities 778,235 1,445,791 1,104,903
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (575,847) (788,368) (894,470)
Proceeds from sale of assets 828 2,600 678,350
Investment in equity method investments (35) (9,338) (77,263)
Distribution of investment from equity method investments 0 1,728 0
Proceeds from sale of equity method investments (9,424)    
Proceeds from sale of equity method investments   249,463 0
Net cash used in investing activities (584,478) (543,915) (293,383)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings from debt 196,000 95,000 158,000
Repayments of debt (283,000) (102,000) (455,000)
Treasury stock repurchases 0 (519,863) (872,761)
Dividends paid (159,390) (145,515) (111,369)
Tax withholding on vesting of stock awards (9,459) (10,590) (8,150)
Capitalized debt issuance costs 0 (7,412) 0
Net cash used in financing activities (255,849) (690,380) (1,289,280)
Net (decrease) increase in cash, cash equivalents and restricted cash (62,092) 211,496 (477,760)
Cash, cash equivalents and restricted cash, beginning of period 213,783 2,287 480,047
Cash, cash equivalents and restricted cash, end of period $ 151,691 $ 213,783 $ 2,287