XML 87 R8.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (434,722) $ (28,614)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and impairment 186,797 214,410
Impairment of goodwill 395,060  
Dry holes and abandonments 174 21
Deferred income tax benefit (68,194) (6,604)
Stock-based compensation expense 9,160 9,338
Net gain on asset disposals (1,239) (6,545)
Credit loss expense 1,055  
Amortization of debt discount and issuance costs 228 221
Changes in operating assets and liabilities:    
Accounts receivable 19,490 10,929
Income taxes receivable/payable (1,978) (14)
Inventory and other assets 8,392 6,592
Accounts payable (22,999) (17,858)
Accrued liabilities (15,592) 2,871
Other liabilities (2,341) (915)
Net cash provided by operating activities 73,291 183,832
Cash flows from investing activities:    
Acquisitions, net of cash acquired   (13)
Purchases of property and equipment (71,928) (118,341)
Proceeds from disposal of assets and insurance claims 4,280 22,054
Net cash used in investing activities (67,648) (96,300)
Cash flows from financing activities:    
Purchases of treasury stock (20,025) (75,113)
Dividends paid (7,629) (8,499)
Net cash provided by financing activities (27,654) (83,612)
Effect of foreign exchange rate changes on cash 26 (48)
Net increase in cash and cash equivalents (21,985) 3,872
Cash and cash equivalents at beginning of period 174,185 245,029
Cash and cash equivalents at end of period 152,200 248,901
Net cash paid during the period for:    
Interest, net of capitalized interest of $252 in 2020 and $257 in 2019 (11,401) (10,689)
Income taxes (2) (15)
Non-cash investing and financing activities:    
Net decrease in payables for purchases of property and equipment (7,365) (10,764)
Net decrease in deposits on equipment purchases $ 1,336 $ 1,535