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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net earnings $ 476,569 $ 391,783
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation, depletion, accretion and amortization 278,925 256,463
Noncash operating lease expense 26,349 0
Net gain on sale of property, plant & equipment and businesses (10,982) (8,374)
Contributions to pension plans (6,767) (107,202)
Share-based compensation expense 24,815 21,650
Deferred tax expense (benefit) 62,232 76,779
Cost of debt purchase 0 6,922
Changes in assets and liabilities before initial effects of business acquisitions and dispositions (221,001) (67,836)
Other, net 15,989 2,446
Net cash provided by operating activities 646,129 572,631
Investing Activities    
Purchases of property, plant & equipment (306,893) (348,238)
Proceeds from sale of property, plant & equipment 12,112 12,838
Proceeds from sale of businesses 1,744 11,256
Payment for businesses acquired, net of acquired cash 1,122 (213,138)
Other, net (11,342) (12,216)
Net cash used for investing activities (303,257) (549,498)
Financing Activities    
Proceeds from short-term debt 366,900 514,900
Payment of short-term debt (499,900) (314,900)
Payment of current maturities and long-term debt (17) (892,049)
Proceeds from issuance of long-term debt 0 850,000
Debt issuance and exchange costs 0 (45,513)
Settlements of interest rate derivatives 0 3,378
Purchases of common stock (2,602) (99,916)
Dividends paid (122,943) (111,192)
Share-based compensation, shares withheld for taxes (37,612) (31,418)
Net cash used for financing activities (296,174) (126,710)
Net increase (decrease) in cash and cash equivalents and restricted cash 46,698 (103,577)
Cash and cash equivalents and restricted cash at beginning of year 44,404 146,646
Cash and cash equivalents and restricted cash at end of period $ 91,102 $ 43,069