Cash Statement
Consolidated
Statements of Cash Flow
(Unaudited)
(In Thousands)
| |
|
|
Three Months Ended
|
Six Months Ended
|
| |
|
|
June 30/99
|
June 30/98
|
June 30/99
|
June 30/98 |
|
| Operating activities |
|
|
|
|
|
|
|
|
| |
Net Earnings |
$17,117 |
|
$19,365 |
|
$28,239 |
|
$37,169 |
|
| |
Items not requiring (providing) cash: |
- |
|
|
|
|
|
|
|
| |
|
Depreciation, depletion and reclamation |
30,443 |
|
28,252 |
|
60,309 |
|
53,936 |
|
| |
|
Provision for deferred
taxes |
13,694 |
|
13,110 |
|
24,990 |
|
21,138 |
|
| |
|
Deferred revenue
recognized |
(1,235) |
|
(5,288) |
|
(5,807) |
|
(9,193) |
|
| |
Other operating items |
(24,842) |
|
4,121 |
|
(38,807) |
|
(21,768) |
|
|
| Cash provided by operations |
35,177
|
|
59,560 |
|
68,924 |
|
81,282 |
|
|
| |
| Investing activities |
|
|
|
|
|
|
|
|
| |
|
Additions to property, plant and equipment |
(56,869) |
|
(35,705) |
|
(108,017) |
|
(64,829) |
|
| |
|
Change in long-term
receivables, investments and other |
- |
|
(3,450) |
|
- |
|
4,932 |
|
| |
|
Proceeds on sale
of property, plant and equipment |
409 |
|
2,027
|
|
409 |
|
2,059 |
|
| |
|
Proceeds on sale of property, plant and equipment |
(56,460) |
|
(37,128) |
|
(107,608) |
|
(57,838) |
|
|
| Cash used in investing |
(56,460) |
|
(37,128) |
|
(107,608) |
|
(57,838) |
|
|
| |
| Financing activities |
|
|
|
|
|
|
|
|
| |
|
Increase in debt |
46,237 |
|
9,662 |
|
84,660 |
|
150,602 |
|
| |
|
Repayment of debt |
(44,732) |
|
- |
|
(44,732) |
|
(143,650) |
|
| |
|
Issue of shares |
503 |
|
1,027 |
|
1,379 |
|
2,138 |
|
| |
|
Preferred securities charges |
(2,215) |
|
- |
|
(4,482) |
|
- |
|
| |
|
Dividends |
(7,209) |
|
(7,192) |
|
(14,416) |
|
(14,374) |
|
|
| Cash provided by (used in) financing |
(7,416) |
|
3,497 |
|
22,409 |
|
(5,284) |
|
|
| |
| |
|
Increase (decrease) in cash during the period
|
(28,699) |
|
25,929 |
|
(16,275) |
|
18,160 |
|
| |
|
Cash at beginning of period |
48,890 |
|
101,953 |
|
36,466 |
|
109,722 |
|
|
| Cash at end of period |
$20,191 |
|
$127,882 |
|
$20,191 |
|
$127,882 |
|
|
| |
Note: See notes accompanying
the consolidated financial statements. |
