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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities:    
Net income $ 52,131 $ 25,130
Income (loss) from discontinued operations, net of tax 15 (409)
Income from continuing operations 52,116 25,539
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 73,723 69,239
Deferred income taxes 9,843 1,813
Changes in current assets and liabilities, net of acquisitions:    
Receivables 89,407 44,549
Inventories (25,613) (29,337)
Other current assets (46,837) 14,959
Accounts payable (41,965) (24,105)
Other current liabilities (13,977) (23,259)
Other noncurrent changes (1,052) 326
Net cash provided by continuing operations 95,645 79,724
Net cash used in discontinued operations (25) (434)
Net cash provided by operating activities 95,620 79,290
Investing activities:    
Capital expenditures (111,091) (139,485)
Acquisitions, net of cash acquired (1,023) (67,593)
Net proceeds from sale or disposition of property and other 9,035 4,540
Investments (3,248) 68
Net cash used in investing activities (106,327) (202,470)
Financing activities:    
Issuance of short-term borrowings 50,000 0
Repayment of short-term borrowings (50,000) 0
Issuance of long-term debt 93,295 248,021
Repayment of long-term debt (53,301) (36,242)
Proceeds from issuance of common stock 19,699 3,410
Dividends paid (42,611) (41,580)
Repurchase of common stock (6,701) 0
Tax withholding on stock-based compensation (4,127) (362)
Net cash provided by financing activities 6,254 173,247
Increase (decrease) in cash and cash equivalents (4,453) 50,067
Cash and cash equivalents -- beginning of year 59,547 66,459
Cash and cash equivalents -- end of period $ 55,094 $ 116,526