XML 18 R8.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (697,165) $ (339,780)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, amortization and impairment 517,201 823,862
Impairment of goodwill 395,060 17,800
Dry holes and abandonments 1,256 94
Deferred income tax benefit (100,212) (79,498)
Stock-based compensation expense 20,087 30,058
Net gain on asset disposals (3,357) (11,153)
Net gain on insurance reimbursement (4,172)  
Writedown of capacity reservation contract 9,207 12,673
Credit loss expense 5,606 3,594
Restructuring expenses, non-cash 24,068  
Amortization of debt discount and issuance costs 673 668
Loss on early debt extinguishment   8,247
Changes in operating assets and liabilities:    
Accounts receivable 202,733 144,210
Income taxes receivable/payable 1,285 (2,754)
Inventory and other assets 22,250 42,092
Accounts payable (57,788) (44,270)
Accrued liabilities (44,607) (16,993)
Other liabilities (8,840) (5,009)
Net cash provided by operating activities 283,285 583,841
Cash flows from investing activities:    
Purchases of property and equipment (135,043) (283,288)
Proceeds from disposal of assets and insurance claims 17,792 32,434
Other (121) (13)
Net cash used in investing activities (117,372) (250,867)
Cash flows from financing activities:    
Purchases of treasury stock (21,129) (230,275)
Dividends paid (15,110) (24,690)
Debt issuance costs (145) (150)
Proceeds from long-term debt   150,000
Repayment of long-term debt   (308,061)
Net cash used in financing activities (36,384) (413,176)
Effect of foreign exchange rate changes on cash 27 2
Net increase in cash and cash equivalents 129,556 (80,200)
Cash and cash equivalents at beginning of period 174,185 245,029
Cash and cash equivalents at end of period 303,741 164,829
Net cash (paid) received during the period for:    
Interest, net of capitalized interest of $425 in 2020 and $548 in 2019 (32,605) (43,281)
Income taxes 3,550 (861)
Non-cash investing and financing activities:    
Net decrease in payables for purchases of property and equipment (38,312) (35,941)
Net decrease in deposits on equipment purchases $ 3,338 4,787
Cashless exercise of stock options   $ 9,219