|
(in
thousands)
|
|
Year
Ended December 31,
|
|
|
|
|
2007
|
|
|
2006
|
|
|
2005
|
|
|
Cash
Flows from Operating Activities:
|
|
|
|
|
|
|
|
|
|
|
Net
income
|
|
$ |
21,287 |
|
|
$ |
161,565 |
|
|
$ |
115,778 |
|
|
Plus
(income) loss from discontinued operations, net of taxes
|
|
|
131,301 |
|
|
|
(10,491 |
) |
|
|
(17,898 |
) |
|
Adjustments
to reconcile net income to net cash provided by operation
activities -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation,
depletion, and amortization
|
|
|
188,393 |
|
|
|
139,245 |
|
|
|
81,124 |
|
|
Accretion
of asset retirement obligation
|
|
|
1,437 |
|
|
|
884 |
|
|
|
626 |
|
|
Deferred
income taxes
|
|
|
86,474 |
|
|
|
86,541 |
|
|
|
57,499 |
|
|
Stock-based
compensation expense
|
|
|
10,317 |
|
|
|
6,905 |
|
|
|
1,451 |
|
|
Debt
retirement cost – cash and non-cash
|
|
|
12,765 |
|
|
|
--- |
|
|
|
--- |
|
|
Other
|
|
|
(4,314 |
) |
|
|
7,117 |
|
|
|
(334 |
) |
|
Change
in assets and liabilities-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase
in accounts receivable
|
|
|
(9,114 |
) |
|
|
(20,571 |
) |
|
|
(5,826 |
) |
|
Increase
in accounts payable and accrued liabilities
|
|
|
5,748 |
|
|
|
10,906 |
|
|
|
5,072 |
|
|
Increase
(decrease) in income taxes payable
|
|
|
(806 |
) |
|
|
884 |
|
|
|
--- |
|
|
Increase
(decrease) in accrued interest
|
|
|
(1,206 |
) |
|
|
256 |
|
|
|
(701 |
) |
|
Cash
Provided by operating activities – continuing operations
|
|
|
442,282 |
|
|
|
383,241 |
|
|
|
236,791 |
|
|
Cash
Provided by operating activities – discontinued operations
|
|
|
25,620 |
|
|
|
41,680 |
|
|
|
48,543 |
|
|
Net
Cash Provided by Operating Activities
|
|
|
467,902 |
|
|
|
424,921 |
|
|
|
285,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
Flows from Investing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additions
to property and equipment
|
|
|
(398,295 |
) |
|
|
(293,957 |
) |
|
|
(168,914 |
) |
|
Proceeds
from the sale of property and equipment
|
|
|
250 |
|
|
|
24,678 |
|
|
|
7,297 |
|
|
Acquisition
of properties
|
|
|
(252,299 |
) |
|
|
(194,269 |
) |
|
|
(28,927 |
) |
|
Net
cash received (distributed) as operator of partnerships
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and
joint ventures
|
|
|
485 |
|
|
|
410 |
|
|
|
(948 |
) |
|
Other
|
|
|
--- |
|
|
|
(528 |
) |
|
|
255 |
|
|
Cash
Used in investing activities – continuing operations
|
|
|
(649,859 |
) |
|
|
(463,666 |
) |
|
|
(191,237 |
) |
|
Cash
Used in investing activities – discontinued operations
|
|
|
(7,827 |
) |
|
|
(59,881 |
) |
|
|
(48,837 |
) |
|
Net
Cash Used in Investing Activities
|
|
|
(657,686 |
) |
|
|
(523,547 |
) |
|
|
(240,074 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
Flows from Financing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds
from long-term debt
|
|
|
250,000 |
|
|
|
--- |
|
|
|
--- |
|
|
Payments
of long-term debt
|
|
|
(200,000 |
) |
|
|
--- |
|
|
|
--- |
|
|
Net
proceeds from (payments of) bank borrowings
|
|
|
155,600 |
|
|
|
31,400 |
|
|
|
(7,500 |
) |
|
Net
proceeds from issuances of common stock
|
|
|
3,789 |
|
|
|
12,509 |
|
|
|
10,325 |
|
|
Excess
tax benefits from stock-based awards
|
|
|
613 |
|
|
|
3,328 |
|
|
|
--- |
|
|
Purchase
of treasury shares
|
|
|
(1,826 |
) |
|
|
--- |
|
|
|
--- |
|
|
Payments
of debt retirement costs
|
|
|
(9,376 |
) |
|
|
--- |
|
|
|
--- |
|
|
Payments
of debt issuance costs
|
|
|
(4,451 |
) |
|
|
(558 |
) |
|
|
--- |
|
|
Cash
provided by financing activities – continuing operations
|
|
|
194,349 |
|
|
|
46,679 |
|
|
|
2,825 |
|
|
Cash
provided by financing activities – discontinued operations
|
|
|
--- |
|
|
|
--- |
|
|
|
--- |
|
|
Net
Cash Provided by financing activities
|
|
|
194,349 |
|
|
|
46,679 |
|
|
|
2,825 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
Increase (Decrease) in Cash and Cash Equivalents
|
|
$ |
4,565 |
|
|
$ |
(51,947 |
) |
|
$ |
48,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and Cash Equivalents at Beginning of Year
|
|
|
1,058 |
|
|
|
53,005 |
|
|
|
4,920 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
and Cash Equivalents at End of Year
|
|
$ |
5,623 |
|
|
$ |
1,058 |
|
|
$ |
53,005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental
Disclosures of Cash Flows Information:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash
paid during year for interest, net of amounts capitalized
|
|
$ |
28,092 |
|
|
$ |
22,691 |
|
|
$ |
24,483 |
|
|
Cash
paid during year for income taxes
|
|
$ |
2,113 |
|
|
$ |
9,780 |
|
|
$ |
750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
