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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net earnings $ 60,258 $ 63,299
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation, depletion, accretion and amortization 95,480 89,181
Noncash operating lease expense 8,851 8,717
Net gain on sale of property, plant & equipment and businesses (999) (7,297)
Contributions to pension plans (2,144) (2,320)
Share-based compensation expense 6,716 5,724
Deferred tax expense (benefit) 19,671 774
Changes in assets and liabilities before initial effects of business acquisitions and dispositions (99,597) (47,733)
Other, net (5,761) 5,819
Net cash provided by operating activities 82,475 116,164
Investing Activities    
Purchases of property, plant & equipment (142,650) (122,019)
Proceeds from sale of property, plant & equipment 2,536 6,512
Proceeds from sale of businesses 0 1,744
Payment for businesses acquired, net of acquired cash 0 1,122
Other, net 9,872 (7,237)
Net cash used for investing activities (130,242) (119,878)
Financing Activities    
Proceeds from short-term debt 0 196,200
Payment of short-term debt 0 (150,700)
Payment of current maturities and long-term debt (6) (6)
Settlements of interest rate derivatives (19,863) 0
Purchases of common stock (26,132) 0
Dividends paid (45,100) (40,939)
Share-based compensation, shares withheld for taxes (15,365) (14,137)
Net cash used for financing activities (106,466) (9,582)
Net decrease in cash and cash equivalents and restricted cash (154,233) (13,296)
Cash and cash equivalents and restricted cash at beginning of year 274,506 44,404
Cash and cash equivalents and restricted cash at end of period $ 120,273 $ 31,108