XML 24 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income (loss) $ (215,235,000) $ 62,375,000 $ 70,606,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 72,591,000 75,336,000 63,955,000
Amortization of deferred financing costs 2,394,000 1,945,000 1,780,000
Amortization of stock-based compensation 6,735,000 7,330,000 9,366,000
Provision for doubtful accounts receivable, net of write offs (862,000) 3,236,000 (294,000)
Deferred income tax provision (benefit) (3,823,000) (66,000) 21,000
(Gain) loss on sale of assets 1,160,000 (12,461,000) $ (5,870,000)
Impairment charges 152,103,000 $ 8,995,000
Gain on extinguishment of debt (458,000)
Foreign currency (gain) loss (160,000) $ 1,490,000 $ 573,000
Change in operating assets and liabilities —      
Accounts receivable 47,317,000 5,700,000 (17,951,000)
Prepaids and other 214,000 (476,000) 7,954,000
Accounts payable (8,602,000) (3,888,000) (1,681,000)
Other accrued liabilities and other (10,056,000) 4,332,000 (1,757,000)
Net cash provided by operating activities 43,357,000 153,848,000 126,702,000
Cash flows from investing activities:      
Purchases of vessels, equipment and other fixed assets (35,428,000) (158,425,000) (261,867,000)
Release of deposits held in escrow 3,683,000 5,060,000 38,286,000
Proceeds from disposition of vessels, equipment and other fixed assets 8,910,000 32,261,000 13,512,000
Net cash used in investing activities (22,835,000) $ (121,104,000) $ (210,069,000)
Cash flows from financing activities:      
Repuchase of 6.375% senior notes (542,000)
Repayment of revolving loan facility (91,000,000)
Borrowings under revolving loan facility, net 47,000,000 $ 47,167,000
Cash dividends $ 0 (26,152,000) $ (26,357,000)
Stock repurchases (57,887,000) (12,740,000)
Debt issuance costs $ (3,566,000) $ (4,198,000) (1,579,000)
Proceeds from exercise of stock options 282,000
Proceeds from issuance of stock $ 827,000 $ 1,046,000 796,000
Net cash used in financing activities (47,281,000) (40,024,000) (39,598,000)
Effect of exchange rate changes on cash (2,087,000) (2,501,000) (1,644,000)
Net decrease in cash and cash equivalents (28,846,000) (9,781,000) (124,609,000)
Cash and cash equivalents at beginning of year 50,785,000 60,566,000 185,175,000
Cash and cash equivalents at end of year 21,939,000 50,785,000 60,566,000
Supplemental cash flow information:      
Interest paid, net of interest capitalized 29,834,000 27,067,000 21,453,000
Income taxes paid, net $ 2,048,000 $ 4,454,000 $ 3,727,000