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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Statement of Cash Flows [Abstract]      
Cash and cash equivalents at beginning of year $ 746,724 $ 613,110 $ 555,320
Cash flows from operating activities:      
Net income 199,942 446,615 604,357
Adjustments to reconcile net income to cash flows from operating activities:      
Depreciation and amortization 254,000 231,984 213,484
Gain on sale of business/interest in properties, net (295,971) (7,168) 0
Gain on sale of property 0 0 (14,411)
Stock-based compensation and other 20,120 22,837 19,680
Equity in net income of unconsolidated investments (net of tax) (95,770) (127,521) (129,568)
Dividends received from unconsolidated investments and nonmarketable securities 78,391 88,161 71,746
Pension and postretirement (benefit) expense (74,010) 45,658 31,515
Pension and postretirement contributions (30,253) (16,434) (16,478)
Unrealized gain on investments in marketable securities (3,818) (4,635) (2,809)
Loss on early extinguishment of debt 28,955 0 4,829
Deferred income taxes (38,500) (1,976) 14,394
Changes in current assets and liabilities, net of effects of acquisitions and divestitures:      
(Increase) decrease in accounts receivable (49,295) 100,118 (18,220)
(Increase) decrease in inventories (127,401) 51,978 (46,304)
Decrease (increase) in other current assets 17,411 7,902 (32,941)
Increase (decrease) in accounts payable 143,939 (31,519) (12,234)
Increase (decrease) in accrued expenses and income taxes payable 127,068 (215,011) (4,640)
Non-cash transfer of 40% value of construction in progress of Kemerton plant to MRL 135,928 179,437 164,496
Other, net 53,521 28,488 (127,522)
Net cash provided by operating activities 344,257 798,914 719,374
Cash flows from investing activities:      
Acquisitions, net of cash acquired 0 (22,572) (820,000)
Capital expenditures (953,667) (850,477) (851,796)
Cash proceeds from divestitures, net 289,791 0 0
Proceeds from sale of joint venture 0 11,000 0
Proceeds from sale of property and equipment 0 0 10,356
Sales of marketable securities, net 3,774 903 384
Investments in equity and other corporate investments (6,488) (2,427) (2,569)
Net cash used in investing activities (666,590) (863,573) (1,663,625)
Cash flows from financing activities:      
Proceeds from issuance of common stock 1,453,888 0 0
Proceeds from borrowings of other long-term debt 0 452,163 1,597,807
Repayments of long-term debt and credit agreements (1,173,823) (250,000) (175,215)
Other borrowings (repayments), net 60,991 137,635 (126,364)
Fees related to early extinguishment of debt (24,877) 0 (4,419)
Dividends paid to shareholders (177,853) (161,818) (152,204)
Dividends paid to noncontrolling interests (96,136) (32,061) (83,187)
Proceeds from exercise of stock options 18,392 40,437 4,814
Withholding taxes paid on stock-based compensation award distributions (8,140) (5,143) (11,031)
Other (2,230) (3,952) (7,514)
Net cash provided by financing activities 50,212 177,261 1,042,687
Net effect of foreign exchange on cash and cash equivalents (35,331) 21,012 (40,646)
(Decrease) increase in cash and cash equivalents (307,452) 133,614 57,790
Cash and cash equivalents at end of year $ 439,272 $ 746,724 $ 613,110