Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities:      
Net Loss $ (82,052) $ (38,540) $ (133,150)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation and amortization 72,246 62,779 58,069
Deferred financing cost amortization 2,018
Amortization of deferred gains against charter expense (8,037) (8,118) (8,199)
Debt discount and issue cost amortization, net 5,348 6,792 7,397
Director share awards 893 681
Restricted stock amortization 3,494 726
Restricted stock vesting (88)
Bad debt (recoveries) expense (880) (1,283) 4,280
Losses on asset dispositions and impairments, net 8,747 23,547 116,222
Gain from other sales (428)
Marketable security (gains) losses, net (10,931) 45
Purchases of marketable securities (22,997)
Proceeds from sale of marketable securities 51,877 9,169
Derivative (gains), net (2,854) (20,256) (2,995)
Cash settlements on derivative transactions, net 1,372 (512) (1,432)
Foreign currency losses, net 1,447 1,709 3,312
Deferred income tax benefit (22,737) (61,006) (48,048)
Other, net 1,484
Equity in (earnings) losses of 50% or less owned companies, net of tax 3,415 (4,077) 6,314
Dividends received from 50% or less owned companies 1,724 2,642 777
Changes in operating assets and liabilities:      
(Increase) decrease in receivables (18,980) 28,937 5,637
Decrease (increase) in prepaid expenses and other assets 1,177 6,230 (18,086)
Decrease in accounts payable, accrued expenses and other liabilities (18,850) (6,458) (6,985)
Net cash (used in) provided by operating activities (53,025) 34,739 (29,186)
Cash Flows from Investing Activities:      
Purchases of property and equipment (51,980) (69,021) (100,884)
Cash settlements on derivative transactions, net (369) (373)
Proceeds from disposition of property and equipment 22,860 10,843 41,919
Sale of subsidiary to joint venture 8,017
Investments in and advances to 50% or less owned companies (43,725) (5,469) (16,863)
Return of investments and advances from 50% or less owned companies 7,513
Capital distributions from equity investees 16,263 40
Payments received on third-party leases and notes receivable, net 124
Net decrease in construction reserve funds 17,300 32,848 60,406
Principal payments on notes due from equity investees 116
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 (31,149) (31,423) (15,671)
Cash Flows from Financing Activities:      
Payments on long-term debt (49,405) (11,926) (27,152)
Proceeds from issuance of long-term debt, net of issue costs 62,017 6,545 42,947
Proceeds from exercise of stock options and warrants 833
Distribution of SEACOR Marine restricted stock to Company personnel by SEACOR Holdings (2,656)
Issuance of stock 42,996
Issuance of warrants 12,809
Purchase of subsidiary shares from noncontrolling interests (3,693)
Distributions to noncontrolling interests (205)
Net cash provided by (used in) financing activities 69,250 (11,730) 15,590
Effects of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (775) 2,194 (2,479)
Net (Decrease) in Cash, Cash Equivalents and Restricted Cash (15,699) (6,220) (31,746)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year 112,551 118,771 150,517
Cash, Cash Equivalents and Restricted Cash, End of Year $ 96,852 $ 112,551 $ 118,771