XML 36 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
OPERATING ACTIVITIES      
Net income $ 363,598 $ 385,797 $ 137,158
Loss from discontinued operations   3,628 4,692
Income from continuing operations 363,598 389,425 141,850
Adjustments to reconcile income from continuing operations to net cash flows provided by (used in) operating activities:      
Depreciation and depletion 230,681 98,702 72,939
Deferred income tax provision 66,803 83,174 29,038
Amortization of debt issuance costs 21,154 2,975 2,559
Excess tax benefits from stock-based compensation arrangements (8,929) (28,875)  
Gain on initial investment in Western Coal Corp (20,553)    
Non-cash restructuring and impairment charges     3,601
Other 18,764 14,433 15,778
Decrease (increase) in current assets, net of effect of business acquisitions:      
Receivables (1,605) (65,935) 69,772
Inventories (1,885) 1,966 (25,076)
Prepaid expenses and other current assets 18,929 13,155 17,624
Increase (decrease) in current liabilities, net of effect of business acquisitions:      
Accounts payable 13,676 23,717 (16,286)
Accrued expenses and other current liabilities 6,233 41,413 (27,831)
Cash flows provided by operating activities 706,866 574,150 283,968
INVESTING ACTIVITIES      
Additions to property, plant and equipment (436,705) (157,476) (96,298)
Proceeds from sales of investments 27,325    
Other 1,413 (3,414) 3,270
Cash flows used in investing activities (2,840,660) (370,854) (93,028)
FINANCING ACTIVITIES      
Proceeds from issuance of debt 2,350,000    
Borrowings under revolving credit agreement 71,259    
Repayments on revolving credit agreement (61,259)    
Retirements of debt (290,630) (26,972) (61,597)
Dividends paid (30,042) (25,266) (21,190)
Cash spun off to Financing     (33,821)
Purchases of stock under stock repurchase program   (65,438) (34,254)
Excess tax benefits from stock-based compensation arrangements 8,929 28,875  
Proceeds from stock options exercised 8,920 17,134 9,888
Debt issuance costs (80,027)    
Other (5,203) (3,015) (6,169)
Cash flows provided by (used in) financing activities 1,971,947 (74,682) (147,143)
Cash flows provided by (used in) continuing operations (161,847) 128,614 43,797
CASH FLOWS FROM DISCONTINUED OPERATIONS      
Cash flows provided by (used in) operating activities   (6,268) 19,070
Cash flows provided by investing activities   5,066 27,379
Cash flows used in financing activities     (41,385)
Cash flows provided by (used in) discontinued operations   (1,202) 5,064
Effect of foreign exchange rates on cash (3,668)    
Net increase (decrease) in cash and cash equivalents (165,515) 127,412 48,861
Cash and cash equivalents at beginning of year 293,410 165,279 116,074
Add: Cash and cash equivalents of discontinued operations at beginning of year 535 1,254 1,598
Net increase (decrease) in cash and cash equivalents (165,515) 127,412 48,861
Less: Cash and cash equivalents of discontinued operations at end of year   535 1,254
Cash and cash equivalents at end of year 128,430 293,410 165,279
SUPPLEMENTAL DISCLOSURES:      
Interest paid, net of capitalized interest 63,828 9,848 9,991
Income taxes paid 69,101 77,247 15,326
Non-Cash Financing Activities:      
One-year property insurance policy financing agreement   18,947 12,710
Dividend to spin off Financing     437,407
Western Coal Corp
     
INVESTING ACTIVITIES      
Acquisition, net of cash acquired (2,432,693)    
Acquisition of Western Coal in 2011 and HighMount in 2010:      
Fair value of assets acquired 5,164,842    
Less: fair value of liabilities assumed (1,418,640)    
Less: fair value of shares of common stock issued (1,224,126)    
Less: fair value of stock options issued and warrants (34,765)    
Less: gain on initial investment (20,553)    
Less: cash acquired (34,065)    
Net cash paid 2,432,693    
HighMount Exploration and Production Alabama, LLC
     
INVESTING ACTIVITIES      
Acquisition, net of cash acquired   (209,964)  
Acquisition of Western Coal in 2011 and HighMount in 2010:      
Fair value of assets acquired   217,607  
Less: fair value of liabilities assumed   (7,643)  
Net cash paid   $ 209,964