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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities:      
Net income $ 367,489 $ 378,131 $ 390,205
Discontinued operations, net of tax 213 400 (322)
Income from continuing operations 367,276 377,731 390,527
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 327,826 299,214 285,100
Deferred income taxes 23,326 60,250 (1,801)
Provision for credit losses 6,133 1,085 10,576
Amortization of debt issuance costs 1,461 1,333 2,162
Employee stock-based compensation costs 10,254 14,709 13,096
Pension and postretirement benefit plan net periodic benefit credit (6,018) (4,900) (3,001)
Unrealized losses (gains) on investments 12,732 (7,728) (14,563)
Gains on sales of assets (20,723) (13,056) (15,350)
Changes in current assets and liabilities, net of acquisitions:      
Receivables (363,314) (60,024) (2,780)
Inventories (46,588) (42,302) (7,221)
Other current assets (9,360) (71,964) 31,601
Accounts payable 186,285 15,247 15,955
Other current liabilities 27,011 (17,650) 35,591
Pension and postretirement benefit plan contributions (507) (476) (434)
Other noncurrent changes (5,944) (55,367) 30,291
Net cash provided by continuing operations 509,850 496,102 769,749
Net cash provided by (used in) discontinued operations 214 (325) (1,375)
Net cash provided by operating activities 510,064 495,777 768,374
Investing activities:      
Capital expenditures (656,588) (659,425) (558,007)
Acquisitions, net of cash acquired 1,745 (237,718) (105,979)
Net proceeds from sale or disposition of property and other 22,439 15,238 35,557
Investments (6,477) (3,973) (1,814)
Net cash used in investing activities (638,881) (885,878) (630,243)
Financing activities:      
Issuance of short-term borrowings 246,500 50,000 75,000
Repayment of short-term borrowings 0 (100,000) (25,000)
Issuance of long-term debt 361,650 554,027 117,450
Repayment of long-term debt (261,674) (24,979) (148,634)
Debt issuance costs (1,936) (918) (477)
Proceeds from issuance of common stock (149) 88,767 3,385
Dividends paid (176,915) (171,354) (166,405)
Repurchase of common stock (7,399) (6,701) 0
Tax withholding on stock-based compensation (4,904) (4,127) (362)
Net cash provided by (used in) financing activities 155,173 384,715 (145,043)
Increase (decrease) in cash and cash equivalents 26,356 (5,386) (6,912)
Cash and cash equivalents - beginning of year 54,161 59,547 66,459
Cash and cash equivalents - end of year $ 80,517 $ 54,161 $ 59,547