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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net income $ 291,597 $ 277,911
Income (loss) from discontinued operations, net of tax 348 (484)
Income from continuing operations 291,249 278,395
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 222,613 212,832
Deferred income taxes 30,353 16,409
Changes in current assets and liabilities, net of acquisitions:    
Receivables (104,438) (100,141)
Inventories (21,402) (9,581)
Other current assets (74,413) 1,269
Accounts payable 33,173 19,125
Other current liabilities 14,175 74,286
Other noncurrent changes (25,425) (10,139)
Net cash provided by continuing operations 365,885 482,455
Net cash used in discontinued operations (75) (688)
Net cash provided by operating activities 365,810 481,767
Investing activities:    
Capital expenditures (428,114) (413,842)
Acquisitions, net of cash acquired (13,721) (71,479)
Net proceeds from sale or disposition of property and other 12,954 23,463
Investments (3,777) 24
Net cash used in investing activities (432,658) (461,834)
Financing activities:    
Issuance of short-term borrowings 50,000 75,000
Repayment of short-term borrowings (50,000) 0
Issuance of long-term debt 178,517 100,125
Repayment of long-term debt (63,835) (73,699)
Proceeds from issuance of common stock 88,830 3,410
Dividends paid (128,142) (124,796)
Repurchase of common stock (6,701) 0
Tax withholding on stock-based compensation (4,127) (362)
Net cash provided by (used in) financing activities 64,542 (20,322)
Decrease in cash and cash equivalents (2,306) (389)
Cash and cash equivalents -- beginning of year 59,547 66,459
Cash and cash equivalents -- end of period $ 57,241 $ 66,070