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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities      
Net income/(loss) $ 466,980 $ (82,711) $ 207,241
Adjustments to reconcile net income to net cash provided by operating activities:      
Asset impairment/(gain) 21,444 (4,082) 100,242
Depreciation, depletion and amortization 308,824 245,184 261,290
Loss from the early extinguishment of debt 0 20,184 0
Share-based compensation expense 31,309 22,608 10,607
Equity in earnings of affiliates, net of tax (14,207) (10,841) (4,679)
Cash dividends from affiliated companies 8,902 8,660 6,777
Net (gain)/loss on disposition of assets (5,979) 15 (2,752)
Net loss on divestiture of business 0 2,667 14,516
Pension and postretirement plan expense 10,697 595,620 57,973
Pension and postretirement plan contributions (37,409) (163,659) (40,411)
Net (decrease)/increase in deferred taxes (9,876) (158,836) 573
Change in assets and liabilities, net of effects from acquisitions, divestitures and foreign currency adjustments      
Trade accounts receivable (2,466) (149,755) 17,853
Inventories (353,478) (130,119) 12,125
Payable to suppliers 27,225 172,430 21,487
Prepaid expenses 33,702 (13,077) 4,754
Income taxes payable and other income tax items 5,504 (42,204) (12,545)
Accrued expenses and other assets and liabilities 17,877 (13,412) 50,570
Net cash provided by operating activities 509,049 298,672 705,621
Cash Flows from Investing Activities      
Purchase of property, plant and equipment (328,769) (256,019) (194,127)
Cost of acquisitions, net of cash acquired (1,427,020) (22,209) (49,261)
Proceeds from the sale of business, net 0 91,569 103,411
Proceeds from the sale of assets 9,621 13,166 12,966
Other net investing activities 4,732 7,591 684
Net cash used by investing activities (1,741,436) (165,902) (126,327)
Cash Flows from Financing Activities      
Proceeds from issuance of debt 2,153,355 172,042 1,121,860
Principal repayment of debt (285,511) (628,119) (886,055)
Net (decrease)/increase in commercial paper borrowings (349,000) 349,000 (250,000)
Net (decrease)/increase in outstanding checks (18,529) 6,974 20,950
Proceeds from interest rate swap 0 4,387 14,480
Payment of contingent consideration 0 0 (3,000)
Cash dividends – common (187,093) (178,622) (172,626)
Purchase of noncontrolling interest (14,474) 0 0
Dividends paid to noncontrolling interests 0 (1,009) 0
Excess cash costs of early extinguishment of debt 0 (20,111) 0
Payments for share repurchases (4,547) (218,085) (8,483)
Net cash provided/(used) by financing activities 1,294,201 (513,543) (162,874)
Effects of Exchange Rate Changes on Cash (5,354) (13,097) 3,145
Increase/(Decrease) in Cash and Cash Equivalents 56,460 (393,870) 419,565
Cash and cash equivalents at beginning of year 170,978 564,848 145,283
Cash and cash equivalents at end of year 227,438 170,978 564,848
Supplemental Schedule of Non-Cash Investing Activities:      
Non-cash additions to property, plant and equipment 20,250 27,343 3,139
Interest paid, net of amounts capitalized 88,208 68,189 71,707
Income taxes paid, net of refunds $ 122,881 $ 133,610 $ 65,002