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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities:    
Net income $ 240,388 $ 193,490
Income (loss) from discontinued operations, net of tax 26 85
Income from continuing operations 240,362 193,405
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 187,937 161,298
Deferred income taxes 49,222 42,428
Changes in current assets and liabilities, net of acquisitions:    
Receivables (238,373) (55,749)
Inventories 2,480 (38,785)
Other current assets (69,105) (3,452)
Accounts payable 13,062 16,155
Other current liabilities 53,458 31,971
Other noncurrent changes (35,361) (27,170)
Net cash provided by continuing operations 203,682 320,101
Net cash used in discontinued operations (579) (2,720)
Net cash provided by operating activities 203,103 317,381
Investing activities:    
Capital expenditures (423,036) (345,599)
Acquisitions, net of cash acquired (53,263) (27,858)
Net proceeds from sale or disposition of property and other 28,391 12,451
Investments (717) (1,560)
Net cash used in continuing operations (448,625) (362,566)
Net cash provided by discontinued operations 0 1,236
Net cash used in investing activities (448,625) (361,330)
Financing activities:    
Issuance of short-term borrowings 169,977 0
Repayment of short-term borrowings (30,000) 0
Issuance of long-term debt 302,724 356,952
Repayment of long-term debt (166,956) (157,315)
Proceeds from issuance of common stock 105,639 0
Dividends paid (119,795) (115,859)
Repurchase of common stock 0 (5,020)
Tax withholding on stock-based compensation (3,015) (2,330)
Net cash provided by financing activities 258,574 76,428
Effect of exchange rate changes on cash and cash equivalents 0 (1)
Increase in cash and cash equivalents 13,052 32,478
Cash and cash equivalents -- beginning of year 53,948 34,599
Cash and cash equivalents -- end of period $ 67,000 $ 67,077