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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net earnings $ 270,174 $ 260,857
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation, depletion, accretion and amortization 194,951 182,677
Noncash operating lease expense 17,977 17,549
Net gain on sale of property, plant & equipment and businesses (741) (10,748)
Contributions to pension plans (4,409) (4,638)
Share-based compensation expense 15,220 14,370
Deferred tax expense (benefit) 36,644 34,816
Changes in assets and liabilities before initial effects of business acquisitions and dispositions (101,271) (201,256)
Other, net (2,954) 8,289
Net cash provided by operating activities 425,591 301,916
Investing Activities    
Purchases of property, plant & equipment (223,147) (225,837)
Proceeds from sale of property, plant & equipment 3,063 11,200
Proceeds from sale of businesses 651 1,744
Payment for businesses acquired, net of acquired cash (5,668) 1,122
Other, net 5,575 (4,577)
Net cash used for investing activities (219,526) (216,348)
Financing Activities    
Proceeds from short-term debt 0 360,100
Payment of short-term debt 0 (356,100)
Payment of current maturities and long-term debt (250,012) (11)
Proceeds from issuance of long-term debt 750,000 0
Debt issuance and exchange costs (10,762) 0
Settlements of interest rate derivatives (19,863) 0
Purchases of common stock (26,132) 0
Dividends paid (90,128) (81,927)
Share-based compensation, shares withheld for taxes (15,830) (25,508)
Other, net (645) (4)
Net cash provided by (used for) financing activities 336,628 (103,450)
Net increase (decrease) in cash and cash equivalents and restricted cash 542,693 (17,882)
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 $ 817,199 $ 26,522