Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows from Operating Activities    
Net loss $ (58,317) $ (44,088)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 37,918 27,136
Deferred financing costs amortization 501 1,752
Restricted stock amortization 1,896 89
Restricted stock vesting (51)
Director share awards 893
Debt discount amortization 2,719 2,192
Amortization of deferred gains against charter expense (4,019) (4,100)
Bad debt expense 10 579
Loss from equipment sales, retirements or impairments 1,588 1,499
Gains from sale of marketable securities, net (11,629)
Proceeds from sale of securities 51,877
Derivative losses 14,184 302
Cash settlement on derivative transactions, net (150) (188)
Currency loss 679 1,283
Deferred income taxes (17,395) (5,560)
Equity earnings (losses), net 513 (2,009)
Dividends received from equity investees 1,324 1,642
Changes in Operating Assets and Liabilities:    
Accounts receivables (15,414) 10,572
Other assets (466) 3,583
Accounts payable and accrued liabilities (99) 18,804
Net cash (used in) provided by operating activities (33,686) 53,736
Cash Flows from Investing Activities:    
Purchases of property and equipment (15,548) (28,803)
Cash settlements on derivative transactions, net (324)
Proceeds from disposition of property and equipment 3,526 9,549
Net change in construction reserve fund 7,209 10,410
Investments in and advances to 50% or less owned companies (25,560) (4,216)
Return of investments and advances from 50% or less owned companies 7,350
Proceeds from sale of investment in equity investees 89
Payments received on third party notes receivable, net 99
Cash assumed on consolidation of 50% or less owned companies 1,943
Business acquisitions, net of cash acquired (9,751)
Net cash used in investing activities (30,274) (13,753)
Cash Flows from Financing Activities:    
Payments on long-term debt (35,202) (3,973)
Proceeds from issuance of long-term debt, net of issue costs 18,471 3,223
SMHI Restricted Stock (2,656)
Purchase of subsidiary shares from noncontrolling interests (3,693)
Proceeds from exercise of stock options and Warrants 813
Issuance of stock 42,996
Issuance of Warrants 12,809
Net cash provided by (used in) financing activities 39,887 (7,099)
Effects of Exchange Rate Changes on Cash and Cash Equivalents (288) 1,127
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (24,361) 34,011
Cash, Restricted Cash and Cash Equivalents, Beginning of Period 112,551 118,771
Cash, Restricted Cash and Cash Equivalents, End of Period $ 88,190 $ 152,782