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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income $ 152,321 $ 124,833
Income (loss) from discontinued operations, net of tax 34 (548)
Income from continuing operations 152,287 125,381
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 147,384 140,747
Deferred income taxes 14,498 2,881
Changes in current assets and liabilities, net of acquisitions:    
Receivables (18,516) (40,801)
Inventories (25,330) (26,276)
Other current assets (52,768) 30,790
Accounts payable (3,845) 13,387
Other current liabilities (22,605) 26,612
Other noncurrent changes (8,236) (10,923)
Net cash provided by continuing operations 182,869 261,798
Net cash used in discontinued operations (58) (396)
Net cash provided by operating activities 182,811 261,402
Investing activities:    
Capital expenditures (261,937) (248,800)
Acquisitions, net of cash acquired (13,721) (70,729)
Net proceeds from sale or disposition of property and other 12,402 22,968
Investments (3,244) 23
Net cash used in investing activities (266,500) (296,538)
Financing activities:    
Issuance of short-term borrowings 50,000 75,000
Repayment of short-term borrowings (50,000) 0
Issuance of long-term debt 171,769 200,400
Repayment of long-term debt (48,151) (162,225)
Proceeds from issuance of common stock 54,649 3,410
Dividends paid (85,351) (83,188)
Repurchase of common stock (6,701) 0
Tax withholding on stock-based compensation (4,127) (362)
Net cash provided by financing activities 82,088 33,035
Decrease in cash and cash equivalents (1,601) (2,101)
Cash and cash equivalents -- beginning of year 59,547 66,459
Cash and cash equivalents -- end of period $ 57,946 $ 64,358