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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES    
Net income $ 154,854 $ 131,358
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and other non-cash charges 78,758 61,352
Stock-based compensation expense 6,033 4,764
Gain on disposition of assets, net (7,729) (6,295)
Deferred income tax provision 7,845 13,284
Pension settlement charges 18,286  
(Increase) decrease in assets:    
Accounts receivable 102,591 (211,375)
Income taxes receivable (20,486) 13,038
Inventories (11,506) (14,708)
Prepaid expenses 6,437 2,907
Other current assets (167) (83)
Other non-current assets (2,341) 6,393
Increase (decrease) in liabilities:    
Accounts payable (31,569) 42,700
Income taxes payable (240) (139)
Accrued payroll and related expenses (5,245) 10,759
Accrued insurance expenses 3,528 (5,702)
Accrued state, local and other taxes 1,900 4,309
Accrued expenses and other liabilities (4,385) (2,804)
Pension and retirement plans liabilities (6,696) (6,044)
Long-term accrued insurance expenses 2,340 (3,762)
Other long-term liabilities 6,934 976
Net cash provided by operating activities 299,142 40,928
INVESTING ACTIVITIES    
Capital expenditures (148,816) (90,227)
Proceeds from sale of assets 12,569 11,572
Purchase of business (78,798)  
Net cash used for investing activities (215,045) (78,655)
FINANCING ACTIVITIES    
Payment of dividends (25,948) (4,267)
Cash paid for common stock purchased and retired (12,445) (912)
Cash paid for finance lease and finance obligations (254) (3,642)
Net cash used for financing activities (38,647) (8,821)
Net increase (decrease) in cash and cash equivalents 45,450 (46,548)
Cash and cash equivalents at beginning of period 126,424 82,433
Cash and cash equivalents at end of period 171,874 35,885
Supplemental cash flows disclosure:    
Income tax payments, net 61,484 18,615
Interest paid 124 127
Supplemental disclosure of noncash investing activities:    
Capital expenditures included in accounts payable $ 9,527 $ 13,912