Cash Flow

v3.10.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities    
Net loss $ (74,083) $ (66,444)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 55,260 42,758
Deferred financing costs amortization 1,784 2,028
Restricted stock amortization 2,602 363
Restricted stock vesting (83)
Director share awards 893
Debt discount amortization 4,025 3,316
Amortization of deferred gains against charter expense (6,028) (6,109)
Bad debt expense 86 (516)
Loss from equipment sales, retirements or impairments 1,002 11,243
Gain from other sales (428)
Gains from sale of marketable securities, net (10,931)
Proceeds from sale of securities 51,877
Derivative losses (gains) 9,797 (12,720)
Cash settlement on derivative transactions, net (48) (372)
Currency loss 981 1,389
Deferred income taxes (20,980) (12,534)
Equity losses, net 1,540 5,297
Dividends received from equity investees 1,324 2,442
Changes in Operating Assets and Liabilities:    
Accounts receivables (29,246) 735
Other assets 1,003 3,575
Accounts payable and accrued liabilities 479 19,747
Net cash (used in) provided by operating activities (50,121) 35,144
Cash Flows from Investing Activities:    
Purchases of property and equipment (37,763) (52,353)
Cash settlements on derivative transactions, net (369)
Proceeds from disposition of property and equipment 5,384 9,797
Net change in construction reserve fund 9,765 32,754
Sale of subsidiary joint venture 8,017
Investments in and advances to 50% or less owned companies (30,253) (5,302)
Return of investments and advances from 50% or less owned companies 7,350
Capital distributions from equity investees 6,463
Proceeds from sale of investment in equity investees 89
Payments received on third party notes receivable, net 99
Principal payments on notes due from equity investees 313
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 (38,288) (15,529)
Cash Flows from Financing Activities:    
Payments on long-term debt (38,053) (8,572)
Proceeds from issuance of long-term debt, net of issue costs 62,353 6,845
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 80,918 (8,076)
Effects of Exchange Rate Changes on Cash and Cash Equivalents (541) 1,666
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash (8,032) 13,205
Cash, Restricted Cash and Cash Equivalents, Beginning of Period 112,551 118,771
Cash, Restricted Cash and Cash Equivalents, End of Period $ 104,519 $ 131,976

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