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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net earnings $ 199,391 $ 131,247 $ 299,028
Items not involving cash:      
Depreciation and amortization 204,862 181,527 172,459
Share-based compensation (note 12) 4,528 8,301 14,604
Amortization of deferred charges (note 5) 11,685 10,342 9,477
Amounts reclassified from other comprehensive loss to interest expense 3,319 4,259 5,330
Unrealized change in fair value of financial instruments (53,252) (13,064) (187,522)
Equity (income) loss on investment (note 6(a)) (5,107) (256) 670
Refinancing expenses and recoveries (note 5) 5,148 (398) 2,017
Amortization of deferred gain (note 9(c)) (9,795) (1,428)  
Other income (6,600)    
Other 7,759 10,614 720
Changes in assets and liabilities:      
Accounts receivable (323) (9,593) (4,577)
Lease receivable 21,170 21,170 15,675
Prepaid expenses (15,960) 856 (1,769)
Other assets and deferred charges (31,011) (9,380) (2,716)
Accounts payable and accrued liabilities 10,231 9,046 6,071
Deferred revenue (10,085) 3,188 (1,188)
Other long-term liabilities (88) (3,472) (610)
Cash from operating activities 335,872 342,959 327,669
Financing activities:      
Senior unsecured notes issued (note 8(c))   345,000  
Preferred shares issued, net of issuance costs (note 10(b))   130,415 47,862
Common shares issued, net of issuance costs (note 10(a))   4,245 73,179
Draws on credit facilities 534,325 660,160 164,000
Repayment of credit facilities (607,174) (872,659) (67,406)
Draws on other long-term liabilities 150,000    
Repayment of other long-term liabilities (21,691) (393,382) (39,988)
Shares repurchased, including related expenses (note 10) (26,188)   (8,950)
Financing fees (note 5) (17,399) (17,405) (23,334)
Dividends on common shares (105,691) (62,310) (44,379)
Dividends on preferred shares (53,655) (50,443) (38,493)
Proceeds from sale-leaseback of vessels (note 9(c)) 542,000 330,000  
Cash from financing activities 394,527 73,621 62,491
Investing activities:      
Expenditures for vessels (712,663) (524,255) (255,593)
Short-term investments (2,203) 10,463 24,425
Restricted cash   60,000 (1,755)
Loans to affiliate (note 3) (201,865) (210,713) (93,700)
Repayment of loans to affiliate (note 3) 200,680 850 39,633
Other assets (583) (27,550) (3,724)
Investment in affiliate (note 6(a))     (4,444)
Cash used in investing activities (716,634) (691,205) (295,158)
Increase (decrease) in cash and cash equivalents 13,765 (274,625) 95,002
Cash and cash equivalents, beginning of year 201,755 476,380 381,378
Cash and cash equivalents, end of year 215,520 201,755 476,380
Supplemental cash flow information (note 13(b)) $ 0 $ 0 $ 0