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CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income $ 541,644 $ 12,391
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and depletion 86,973 102,021
Deferred income tax expense 122,208 22,439
Stock based compensation expense 14,250 8,763
Amortization of debt issuance costs and debt discount, net 2,869 1,289
Accretion of asset retirement obligations 2,666 2,416
Mark-to-market loss on gas hedges 4,043 8,661
Changes in operating assets and liabilities:    
Trade accounts receivable (93,022) 10,028
Inventories (73,258) 18,703
Prepaid expenses and other receivables 8,879 10,548
Accounts payable 6,609 (16,746)
Accrued expenses and other current liabilities 20,044 (10,100)
Other 3,005 6,417
Net cash provided by operating activities 646,910 176,830
INVESTING ACTIVITIES    
Purchase of property, plant and equipment (120,022) (34,149)
Deferred mine development costs (35,690) (13,462)
Acquisition of leased mineral rights (3,500) 0
Acquisition of Black Warrior Methane and Black Warrior Transmission, net of $2.8 million cash acquired 2,533 0
Proceeds from sale of property, plant and equipment 0 192
Net cash used in investing activities (156,679) (47,419)
FINANCING ACTIVITIES    
Dividends paid (76,522) (7,842)
Repayments under ABL Facility 0 (40,000)
Retirements of debt (37,758) 0
Principal repayments of finance lease obligations (22,400) (22,284)
Other (3,724) (2,806)
Net cash used in financing activities (140,404) (72,932)
Net increase in cash and cash equivalents 349,827 56,479
Cash and cash equivalents at beginning of period 395,839 211,916
Cash and cash equivalents at end of period $ 745,666 $ 268,395