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
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities:    
Net Loss $ (28,273) $ (31,688)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 17,193 19,512
Deferred financing costs amortization 320 237
Option amortization   218
Restricted stock amortization 761 258
Restricted stock vesting (282)  
Debt discount amortization 1,373 1,494
Amortization of deferred gains against charter expense   (2,009)
Bad debt expense (404) (26)
(Gain) loss from equipment sales, retirements or impairments (359) 2,643
Derivative losses 925 11,516
Cash settlement on derivative transactions, net (75) (129)
Currency gains (635) (139)
Deferred income taxes (5,160) (11,286)
Equity (earnings) losses 3,397 (208)
Dividends received from equity investees 400  
Changes in Operating Assets and Liabilities:    
Accounts receivables (1,686) (3,342)
Other assets (2,690) (346)
Accounts payable and accrued liabilities 13,228 1,786
Net cash used in operating activities (1,967) (11,509)
Cash Flows from Investing Activities:    
Purchases of property and equipment (21,183) (8,557)
Proceeds from disposition of property and equipment 552 282
Net change in construction reserve fund (48)  
Investments in and advances to 50% or less owned companies (1,951) (19,950)
Return of investments and advances from 50% or less owned companies   99
Net cash used in investing activities (22,630) (28,126)
Cash Flows from Financing Activities:    
Payments on long-term debt (4,361) (28,807)
Proceeds from issuance of long-term debt, net of issue costs   18,471
Purchase of subsidiary shares from noncontrolling interests (3,392)  
Proceeds from exercise of stock options and Warrants 108  
Issuance of stock   1,793
Net cash used in financing activities (7,645) (8,543)
Effects of Exchange Rate Changes on Cash and Cash Equivalents 1,485 682
Net Decrease in Cash, Cash Equivalents and Restricted Cash (30,757) (47,496)
Cash, Restricted Cash and Cash Equivalents, Beginning of Period 96,852 112,551
Cash, Restricted Cash and Cash Equivalents, End of Period $ 66,095 $ 65,055