XML 42 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net income $ 299,477 $ 322,413 $ 116,942
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion, amortization and impairment 526,614 437,279 333,493
Provision for bad debts 1,100    (2,000)
Dry holes and abandonments 308 1,213 519
Deferred income tax expense 160,436 158,967 147,490
Stock-based compensation expense 23,185 20,904 16,779
Net gain on asset disposals (33,806) [1] (4,999) [1] (22,812) [1]
Tax expense related to stock-based compensation (1,284)   (2,291)
Changes in operating assets and liabilities:      
Accounts receivable 52,612 (183,165) (178,444)
Income taxes receivable/payable 3,506 77,618 43,522
Inventory and other assets 5,276 (13,491) (8,772)
Accounts payable (25,199) 41,995 49,576
Accrued expenses (6,048) 18,313 18,072
Other liabilities (837) (8,111) 3,234
Net cash provided by (used in) operating activities of discontinued operations   (339) 10,390
Net cash provided by operating activities 1,005,340 868,597 525,698
Cash flows from investing activities:      
Acquisitions     (238,022)
Purchases of property and equipment (973,988) (1,011,578) (738,090)
Proceeds from disposal of assets 66,027 22,495 29,409
Net cash provided by investing activities of discontinued operations   25,500 42,638
Net cash used in investing activities (907,961) (963,583) (904,065)
Cash flows from financing activities:      
Purchases of treasury stock (170,292) (4,314) (1,853)
Dividends paid (30,302) (31,045) (30,796)
Tax benefit related to stock-based compensation   6,393  
Proceeds from long-term debt 400,000   400,000
Repayment of long-term debt (93,750) (6,250) (1,250)
Proceeds from borrowings under revolving credit facility 123,400 153,100 200,000
Repayment of borrowings under revolving credit facility (233,400) (43,100) (200,000)
Debt issuance costs (7,581)   (10,779)
Proceeds from exercise of stock options 934 16,811 525
Net cash provided by (used in) financing activities (10,991) 91,595 355,847
Effect of foreign exchange rate changes on cash 389 (275) 255
Net increase (decrease) in cash and cash equivalents 86,777 (3,666) (22,265)
Cash and cash equivalents at beginning of year 23,946 27,612 49,877
Cash and cash equivalents at end of year 110,723 23,946 27,612
Net cash (paid) received during the year for:      
Interest, net of capitalized interest of $8,673 in 2012, $8,415 in 2011 and $2,288 in 2010 (16,651) (13,177) (2,220)
Income taxes (7,964) 59,251 115,666
Non-cash investing and financing activities:      
Net increase (decrease) in payables for purchases of property and equipment (27,838) 37,838 29,188
Net (increase) decrease in deposits on equipment purchases $ 55,767 $ (48,459) $ (50,170)
[1] Net gains or losses associated with the disposal of assets relate to corporate strategy decisions of the executive management group. Accordingly, the related gains or losses have been separately presented and excluded from the results of specific segments.