SEC Filings

10-Q
RANGE RESOURCES CORP filed this Form 10-Q on 10/23/2018
Entire Document
 

RANGE RESOURCES CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited, in thousands)

 

 

Nine Months Ended September 30,

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

Operating activities:

 

 

 

 

 

 

 

Net income

$

17,941

 

 

$

111,961

 

Adjustments to reconcile net income to net cash provided from operating activities:

 

 

 

 

 

 

 

Deferred income tax expense

 

38,295

 

 

 

98,054

 

Depletion, depreciation and amortization and impairment

 

510,172

 

 

 

525,753

 

Exploration dry hole costs

 

4

 

 

 

9,166

 

Abandonment and impairment of unproved properties

 

73,244

 

 

 

52,181

 

Derivative fair value loss (income)

 

151,890

 

 

 

(188,326

)

Cash settlements on derivative financial instruments

 

(40,272

)

 

 

16,062

 

Allowance for bad debts

 

(1,250

)

 

 

1,050

 

Amortization of deferred financing costs and other

 

4,163

 

 

 

4,184

 

Deferred and stock-based compensation

 

41,252

 

 

 

3,937

 

Gain on the sale of assets

 

(149

)

 

 

(23,509

)

Changes in working capital:

 

 

 

 

 

 

 

Accounts receivable

 

(49,713

)

 

 

(39,694

)

Inventory and other

 

(822

)

 

 

(1,504

)

Accounts payable

 

(6,529

)

 

 

44,715

 

Accrued liabilities and other

 

36,721

 

 

 

(13,498

)

Net cash provided from operating activities

 

774,947

 

 

 

600,532

 

Investing activities:

 

 

 

 

 

 

 

Additions to natural gas and oil properties

 

(781,554

)

 

 

(771,067

)

Additions to field service assets

 

(1,230

)

 

 

(4,687

)

Acreage purchases

 

(50,461

)

 

 

(46,967

)

Proceeds from disposal of assets

 

24,339

 

 

 

27,583

 

Purchases of marketable securities held by the deferred compensation plan

 

(34,953

)

 

 

(25,410

)

Proceeds from the sales of marketable securities held by the deferred compensation plan

 

37,311

 

 

 

28,755

 

Net cash used in investing activities

 

(806,548

)

 

 

(791,793

)

Financing activities:

 

 

 

 

 

 

 

Borrowings on credit facilities

 

1,602,000

 

 

 

1,486,000

 

Repayments on credit facilities

 

(1,547,000

)

 

 

(1,282,000

)

Repayment of senior notes

 

 

 

 

(500

)

Dividends paid

 

(14,950

)

 

 

(14,876

)

Debt issuance costs

 

(8,257

)

 

 

(247

)

Taxes paid for shares withheld

 

(3,143

)

 

 

(6,971

)

Change in cash overdrafts

 

(5,653

)

 

 

5,588

 

Proceeds from the sales of common stock held by the deferred compensation plan

 

8,513

 

 

 

4,482

 

Net cash provided from financing activities

 

31,510

 

 

 

191,476

 

(Decrease) increase in cash and cash equivalents

 

(91

)

 

 

215

 

Cash and cash equivalents at beginning of period

 

448

 

 

 

314

 

Cash and cash equivalents at end of period

$

357

 

 

$

529

 

 

 

 

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

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