| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||
Net income | ||||||
301,699 | 696,787 | 455,046 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and depletion | ||||||
97,330 | 97,209 | 75,413 | ||||
Deferred income tax expense | ||||||
68,483 | -223,038 | -1,686 | ||||
Stock based compensation expense | ||||||
5,820 | 6,405 | 4,181 | ||||
Amortization of debt issuance costs and debt discount/premium, net | ||||||
1,361 | 2,486 | 1,889 | ||||
Accretion and valuation adjustment of ARO | ||||||
-7,891 | -19,942 | 1,834 | ||||
Loss on early extinguishment of debt | ||||||
-9,756 | 0 | 0 | ||||
Changes in operating assets and liabilities: | ||||||
Trade accounts receivable | ||||||
-38,928 | 20,653 | 51,850 | ||||
Other receivables | ||||||
224 | -3,872 | 8,121 | ||||
Income tax receivable | ||||||
-21,795 | 12,431 | 0 | ||||
Inventories | ||||||
30,491 | 1,812 | 13,732 | ||||
Prepaid expenses and other receivables | ||||||
-4,088 | -1,444 | 17,366 | ||||
Accounts payable | ||||||
13,409 | 5,060 | 14,388 | ||||
Accrued expenses and other current liabilities | ||||||
-17,317 | 13,835 | 15,642 | ||||
Non-current income tax receivable | ||||||
0 | -17,945 | 39,255 | ||||
Other | ||||||
26,068 | -7,771 | -1,871 | ||||
Net cash provided by operating activities | ||||||
532,814 | 559,396 | 434,512 | ||||
INVESTING ACTIVITIES | ||||||
Payments to Acquire Property, Plant, and Equipment | ||||||
107,278 | 101,620 | 92,625 | ||||
Deferred mine development costs | ||||||
23,392 | 8,937 | 0 | ||||
Proceeds from sale of property, plant and equipment | ||||||
3,127 | 2,928 | 0 | ||||
Sale of short-term investments | ||||||
17,501 | 0 | 0 | ||||
Purchases of short-term investments | ||||||
24,171 | 0 | 0 | ||||
Net cash used in investing activities | ||||||
-134,213 | -107,629 | -92,625 | ||||
FINANCING ACTIVITIES | ||||||
Dividends paid | ||||||
240,394 | 360,635 | 796,902 | ||||
Borrowings under ABL Facility | ||||||
0 | 128,750 | 344,750 | ||||
Retirements of debt | ||||||
140,272 | 3,060 | 3,060 | ||||
Principal repayments of capital lease obligations | ||||||
17,273 | 0 | 505 | ||||
Debt issuance costs paid | ||||||
0 | 3,713 | 2,562 | ||||
Common shares repurchased | ||||||
12,546 | 38,030 | 0 | ||||
Other | ||||||
-1,138 | -4,938 | 0 | ||||
Net cash provided by (used in) financing activities | ||||||
-411,623 | -281,626 | -458,279 | ||||
Net increase (decrease) in cash and cash equivalents and restricted cash | ||||||
-13,022 | 170,141 | -116,392 | ||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||
Interest paid, net of capitalized interest | ||||||
33,544 | 30,237 | 211 | ||||
Cash paid for income taxes | ||||||
85 | 3 | 2,349 | ||||
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||||||
Capital leases - equipment | ||||||
45,523 | 6,822 | 7,355 | ||||
Net increase (decrease) in cash and cash equivalents and restricted cash | ||||||
-13,022 | 170,141 | -116,392 | ||||