XML 120 R9.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income $ 157,074 $ 201,678 $ 182,872
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 193,740 136,871 123,805
Deferred income taxes 25,491 (350) (1,606)
Provision for credit losses 2,445 1,099 2,001
Amortization of debt issuance costs 3,724 2,762 3,115
Stock-based compensation costs 11,394 7,826 2,888
Pension and postretirement benefit plan net periodic benefit cost 1,239 1,628 1,182
Unrealized gains on investments (2,939) (2,918) (2,202)
Gains on sale of assets (21,777) (9,215) (27)
Gain on bargain purchase (3,547) 0 0
Equity in unconsolidated affiliates (259) (279) (286)
Changes in current assets and liabilities, net of acquisitions:      
Receivables (44,037) 14,061 (54,817)
Due from related-party 0 0 16,050
Inventories (13,444) (44,303) 3,654
Other current assets (9,050) 10,907 (19,556)
Accounts payable (14,991) 7,308 33,092
Due to related-party 0 0 (7,310)
Other current liabilities (9,298) (4,003) 48,977
Pension and postretirement benefit plan contributions (570) (2,651) (1,756)
Other noncurrent changes 3,280 1,903 5,650
Net cash provided by operating activities 278,475 322,324 335,726
Investing activities:      
Capital expenditures (348,041) (172,427) (124,283)
Acquisitions, net of cash acquired (609,994) (130,981) 0
Net proceeds from sale or disposition of property and other 47,472 11,996 8,284
Investments (3,097) (3,389) (1,890)
Net cash used in investing activities (913,660) (294,801) (117,889)
Financing activities:      
Issuance of long-term related-party notes, net 0 0 205,275
Issuance of long-term debt 500,000 0 700,000
Repayment of long-term debt (8,808) (7,036) (3,653)
Debt issuance costs (11,070) 0 (16,640)
Tax withholding on stock-based compensation (2,653) (1,673) 0
Net transfers to Centennial 0 0 (850,589)
Net cash provided by (used in) financing activities 477,469 (8,709) 34,393
Increase (decrease) in cash, cash equivalents and restricted cash (157,716) 18,814 252,230
Cash, cash equivalents and restricted cash - beginning of year 281,134 262,320 10,090
Cash, cash equivalents and restricted cash - end of year $ 123,418 $ 281,134 $ 262,320