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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 53,910 $ 262,763
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation, depletion and amortization 100,135 92,258
Deferred income tax expense 44,044 88,002
(Gain) loss on sale of assets (71) 1,500
Gain on derivative instruments (16,062) (8,257)
Net cash received in settlement of derivative instruments 0 52,980
Loss (earnings) on equity method investments 59 (3,684)
Distribution of earnings from equity method investments 0 4,729
Amortization of debt issuance costs 750 1,089
Stock-based compensation and other 15,765 14,487
Changes in assets and liabilities:    
Accounts receivable, net 73,327 141,671
Income taxes (26,756) 6,786
Inventories (4,317) (7,201)
Other current assets 916 1,119
Accounts payable and accrued liabilities (23,711) (27,934)
Interest payable (12,981) (12,887)
Other assets and liabilities (111) (22,134)
Net cash provided by operating activities 204,897 585,287
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (148,702) (195,650)
Proceeds from sale of assets 48 2,346
Investment in equity method investments (35) (1,828)
Proceeds from sale of equity method investments (9,424) 0
Net cash used in investing activities (158,113) (195,132)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings from debt 0 95,000
Repayments of debt 0 (102,000)
Treasury stock repurchases 0 (31,378)
Dividends paid (39,817) (29,605)
Tax withholdings on vesting of stock awards (6,313) (9,570)
Net cash used in financing activities (46,130) (77,553)
Net increase in cash, cash equivalents and restricted cash 654 312,602
Cash, cash equivalents and restricted cash, beginning of period 213,783 2,287
Cash, cash equivalents and restricted cash, end of period $ 214,437 $ 314,889