XML 85 R8.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (339,780) $ (120,172)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and impairment 823,862 703,928
Impairment of goodwill 17,800  
Dry holes and abandonments 94 569
Deferred income tax benefit (79,498) (24,617)
Stock-based compensation expense 30,058 28,449
Net gain on asset disposals (11,153) (21,186)
Write-down of capacity reservation contract 12,673  
Provision for bad debts 3,594  
Amortization of debt discount and issuance costs 668 607
Loss on early debt extinguishment 8,247  
Changes in operating assets and liabilities:    
Accounts receivable 144,210 (67,975)
Income taxes receivable/payable (2,754) 3,275
Inventory and other assets 42,092 (8,022)
Accounts payable (44,270) (31,935)
Accrued liabilities (16,993) 25,480
Other liabilities (5,009) 345
Net cash provided by operating activities 583,841 488,746
Cash flows from investing activities:    
Acquisitions, net of cash acquired (13) (3,800)
Purchases of property and equipment (283,288) (480,568)
Proceeds from disposal of assets and insurance claims 32,434 28,008
Collection of note receivable   23,760
Net cash used in investing activities (250,867) (432,600)
Cash flows from financing activities:    
Purchases of treasury stock (230,275) (111,655)
Proceeds from exercise of options   485
Dividends paid (24,690) (21,960)
Debt issuance costs (150) (4,469)
Proceeds from long-term debt 150,000 521,194
Repayment of long-term debt (308,061)  
Proceeds from borrowings under revolving credit facility   79,000
Repayment of borrowings under revolving credit facility   (347,000)
Net cash provided by financing activities (413,176) 115,595
Effect of foreign exchange rate changes on cash 2 (537)
Net increase in cash and cash equivalents (80,200) 171,204
Cash and cash equivalents at beginning of period 245,029 42,828
Cash and cash equivalents at end of period 164,829 214,032
Net cash (paid) received during the period for:    
Interest, net of capitalized interest of $548 in 2019 and $1,094 in 2018 (43,281) (27,306)
Income taxes (861) 3,277
Non-cash investing and financing activities:    
Receivable from property and equipment insurance   15,000
Net increase (decrease) in payables for purchases of property and equipment (35,941) 60,545
Net (increase) decrease in deposits on equipment purchases 4,787 $ (2,707)
Cashless exercise of stock options $ 9,219