XML 17 R5.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net (loss) income $ (91,710) $ 27,684
Adjustments to reconcile net (loss) income to net cash provided from operating activities:    
Deferred income tax (benefit) expense (44,038) 22,366
Depletion, depreciation and amortization and impairment 163,601 147,290
Exploration dry hole costs 0 103
Abandonment and impairment of unproved properties 10,628 11,491
Derivative fair value income (86,908) (122,839)
Cash settlements on derivative financial instruments 109,466 97,490
Allowance for bad debt 200 250
Amortization of deferred financing costs, loss on extinguishment of debt and other 1,707 1,358
Deferred and stock-based compensation 29,128 9,218
Loss on the sale of assets 1,643 175
Changes in working capital:    
Accounts receivable 18,752 54,435
Inventory and other 5,333 (1,072)
Accounts payable 11,922 7,098
Accrued liabilities and other (42,300) (44,409)
Net cash provided from operating activities 87,424 210,638
Investing activities:    
Additions to natural gas and oil properties (107,015) (357,780)
Additions to field service assets (631) (672)
Acreage purchases (19,497) (30,126)
Proceeds from disposal of assets 113,079 10,660
Purchases of marketable securities held by the deferred compensation plan (8,662) (4,664)
Proceeds from the sales of marketable securities held by the deferred compensation plan 7,833 4,922
Net cash used in investing activities (14,893) (377,660)
Financing activities:    
Borrowings on credit facilities 358,000 542,000
Repayments on credit facilities (422,000) (353,000)
Debt issuance costs (124) (1,700)
Dividends paid (3,395) (6,759)
Change in cash overdrafts (6,368) (15,341)
Proceeds from the sales of common stock held by the deferred compensation plan 1,414 1,893
Net cash (used in) provided from financing activities (72,473) 167,093
Increase in cash and cash equivalents 58 71
Cash and cash equivalents at beginning of period 471 448
Cash and cash equivalents at end of period $ 529 $ 519