XML 21 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (138,762,000) $ (13,371,000)
Adjustments to reconcile net loss to net cash provided by operations:    
Depreciation and amortization 30,950,000 37,253,000
Amortization of stock-based compensation 2,731,000 3,649,000
Amortization of deferred financing costs 2,127,000 1,205,000
Provision for doubtful accounts receivable, net of write-offs 23,000 (955,000)
Impairment charges 162,808,000
Loss on sale of assets 5,918,000
Gain on extinguishment of debt (35,912,000)
Deferred income tax benefit (38,600,000) (9,925,000)
Foreign currency transaction (gain) loss 1,066,000 (477,000)
Change in operating assets and liabilities:    
Accounts receivable 11,306,000 19,082,000
Prepaids and other 406,000 (3,510,000)
Accounts payable 294,000 (9,371,000)
Other accrued liabilities and other (8,638,000) (6,240,000)
Net cash (used in) provided by operating activities (4,283,000) 17,340,000
Cash flows from investing activities:    
Purchases of vessels, equipment and other fixed assets (13,638,000) (21,304,000)
Release of deposits held in escrow 3,683,000
Proceeds from disposition of vessels and equipment 1,429,000 715,000
Net cash used in investing activities (12,209,000) (16,906,000)
Cash flows from financing activities:    
Proceeds from borrowings under revolving loan facility 39,194,000 28,000,000
Repayment of secured credit facilities (33,448,000)
Debt issuance costs (831,000) (1,226,000)
Proceeds from issuance of stock 227,000 528,000
Net cash provided by financing activities 5,142,000 27,302,000
Effect of exchange rate changes on cash 58,000 (131,000)
Net (decrease) increase in cash and cash equivalents (11,292,000) 27,605,000
Cash and cash equivalents at beginning of period 21,939,000 50,785,000
Cash and cash equivalents at end of period 10,647,000 78,390,000
Supplemental cash flow information:    
Interest paid, net of interest capitalized 16,073,000 14,773,000
Income taxes paid, net $ 1,691,000 $ 934,000