XML 33 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 69,326 $ 38,739
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 65,279 53,844
Amortization of debt issuance costs 1,106 1,118
Equity-based compensation 3,221 3,021
Increase in deferred income taxes (20,108) (7,102)
(Gain) loss on asset sales and disposals, net (5,621) 1,103
Changes in operating assets and liabilities, net of effects from acquisitions:    
Decrease in accounts receivable, net 3,066 2,831
(Increase) decrease in income taxes receivable (13,882) 6,055
Increase in prepaid and other current assets (8,857) (8,341)
Increase (decrease) in accounts payable and accrued liabilities (13,789) 1,442
Increase in deferred revenue 1,246 820
Other, net (2,703) (3,356)
Net cash provided by operating activities 118,500 104,378
Cash flows from investing activities:    
Purchase of business, net of cash acquired 0 (356,917)
Capital expenditures (64,757) (46,627)
Decrease in accrued expenses related to capital expenditures (8,238) (7,751)
Proceeds from sales of property, plant and equipment 518 6,326
Issuance of note receivable (3,540) 0
Net cash used in investing activities (76,017) (404,969)
Cash flows from financing activities:    
Proceeds from long-term debt borrowings 100,000 250,000
Payment of debt issuance costs 0 (2,410)
Payments on long-term debt (7,260) (4,531)
Repurchases of common stock 0 (5,073)
Payment of withholding tax for equity awards (5,796) (2,554)
Dividends paid to stockholders (12,804) (11,395)
Net cash provided by financing activities 74,140 224,037
Increase (decrease) in cash and cash equivalents 116,623 (76,554)
Cash and cash equivalents, beginning of period 125,271 264,113
Cash and cash equivalents, end of period 241,894 187,559
Supplemental cash flow disclosures:    
Cash paid for interest, net of capitalized interest 17,152 9,421
Cash paid for income taxes, net of refunds received $ (930) $ (59)