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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net earnings $ 469,962 $ 476,569
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation, depletion, accretion and amortization 295,912 278,925
Noncash operating lease expense 27,820 26,349
Net gain on sale of property, plant & equipment and businesses (2,317) (10,982)
Contributions to pension plans (6,540) (6,767)
Share-based compensation expense 23,239 24,815
Deferred tax expense (benefit) 50,346 62,232
Changes in assets and liabilities before initial effects of business acquisitions and dispositions (76,545) (221,001)
Other, net (3,951) 15,989
Net cash provided by operating activities 777,926 646,129
Investing Activities    
Purchases of property, plant & equipment (268,989) (306,893)
Proceeds from sale of property, plant & equipment 9,440 12,112
Proceeds from sale of businesses 651 1,744
Payment for businesses acquired, net of acquired cash (5,668) 1,122
Other, net 10,819 (11,342)
Net cash used for investing activities (253,747) (303,257)
Financing Activities    
Proceeds from short-term debt 0 366,900
Payment of short-term debt 0 (499,900)
Payment of current maturities and long-term debt (250,018) (17)
Proceeds from issuance of long-term debt 750,000 0
Debt issuance and exchange costs (15,394) 0
Settlements of interest rate derivatives (19,863) 0
Purchases of common stock (26,132) (2,602)
Dividends paid (135,161) (122,943)
Share-based compensation, shares withheld for taxes (16,303) (37,598)
Other, net (1,084) (14)
Net cash provided by (used for) financing activities 286,045 (296,174)
Net increase in cash and cash equivalents and restricted cash 810,224 46,698
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 $ 1,084,730 $ 91,102