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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES      
Net income $ 164,604 $ 26,875 $ 48,911
Non-cash and non-operating items:      
Unrealized loss (gain) on non-designated derivative instruments (note 13) 3,133 (30,133) (13,448)
Depreciation and amortization 136,765 124,378 105,545
(Gain) loss on sales of vessels and write-down of goodwill and vessels (13,564) 54,653 50,600
Unrealized foreign currency exchange loss (gain) including the effect of the termination of cross currency swaps (note 13) 2,805 (7,525) 23,153
Equity income, net of dividends received of $40,303 (2018 – $14,421 and 2017 – $42,692) (18,516) (39,125) 32,903
Amortization of deferred financing issuance costs included in interest expense 8,135 8,720 6,096
Other non-cash items 7,634 (10,495) (10,972)
Change in non-cash operating assets and liabilities (note 15b) 3,218 19,218 (2,396)
Expenditures for dry docking (12,358) (15,368) (21,642)
Receipts from direct financing and sales-type leases 17,073 0 0
Net operating cash flow 298,929 131,198 218,750
FINANCING ACTIVITIES      
Proceeds from issuance of long-term debt 186,566 1,135,304 362,527
Scheduled repayments of long-term debt and settlement of related swaps (132,627) (506,437) (194,237)
Prepayments of long-term debt and settlement of related swaps (188,787) (465,122) (236,474)
Financing issuance costs (1,149) (11,932) (8,361)
Proceeds from financing related to sales and leaseback of vessels 317,806 370,050 656,935
Extinguishment of obligations related to finance leases (71,726) (59,722) (42,000)
Scheduled repayments of obligations related to finance leases (111,617) 0 0
Repurchase of common units (note 16) (25,728) (3,786) 0
Cash distributions paid (82,379) (70,345) (56,650)
Dividends paid to non-controlling interest (90) (2,925) (1,595)
Proceeds from issuance of preferred units net of offering costs (note 16) 0 0 164,411
Other 0 0 (605)
Net financing cash flow (109,731) 385,085 643,951
INVESTING ACTIVITIES      
Expenditures for vessels and equipment, net of warranty settlement (97,895) (686,148) (708,608)
Capital contributions and advances to equity-accounted joint ventures (72,391) (40,544) (183,874)
Proceeds from sales of vessels (note 19) 11,515 28,518 20,580
Receipts from direct financing leases 0 10,882 13,143
Proceeds from sale of equity-accounted joint venture 0 54,438 0
Return of capital and repayment of advances from equity-accounted joint ventures 0 0 92,320
Net investing cash flow (158,771) (632,854) (766,439)
Increase (decrease) in cash, cash equivalents and restricted cash 30,427 (116,571) 96,262
Cash, cash equivalents and restricted cash, beginning of the year 222,864 339,435 243,173
Cash, cash equivalents and restricted cash, end of the year $ 253,291 $ 222,864 $ 339,435