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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES    
Net (loss) income $ (102,652) $ 104,737
Non-cash items:    
Unrealized loss (gain) on derivative instruments (note 9) 51,094 (2,589)
Equity income, net of dividends received of $3,472 (2015 - $nil) (5,437) (13,811)
Depreciation and amortization 148,979 129,797
Write-down and (gain) on sale of vessel (note 14) 43,650 14,353
Deferred income tax recovery (note 10) (5,436) (817)
Amortization of in-process revenue contracts (6,355) (6,320)
Unrealized foreign currency exchange loss and other 26,645 (52,439)
Change in non-cash working capital items related to operating activities 32,055 49,301
Expenditures for dry docking (10,801) (5,145)
Net operating cash flow 171,742 217,067
FINANCING ACTIVITIES    
Proceeds from long-term debt (note 6) 163,112 410,374
Scheduled repayments of long-term debt (note 6) (263,850) (185,907)
Prepayments of long-term debt (note 6) (21,607) (13,606)
Debt issuance costs (note 6) (6,102) (4,554)
Decrease in restricted cash (note 9) 31,990 15,140
Purchase of Teekay Knarr AS and Knarr L.L.C from Teekay Corporation (net of cash acquired of $14.2 million) (note 3) 0 14,247
Proceeds from issuance of common units (note 12) 102,930 0
Proceeds from issuance of preferred units and warrants (note 12) 100,000 125,000
Expenses relating to equity offerings (5,601) (4,187)
Cash distributions paid by the Partnership (45,538) (115,460)
Cash distributions paid by subsidiaries to non-controlling interests (110) (5,720)
Equity contribution from joint venture partners 750 5,500
Settlement of contingent consideration liability (note 4) 0 (3,303)
Other 0 579
Net financing cash flow 55,974 238,103
INVESTING ACTIVITIES    
Net expenditures for vessels and equipment, including advances on newbuilding contracts and conversion costs (106,432) (418,153)
Increase in restricted cash 0 (42,080)
Proceeds from sale of vessel and equipment (note 14) 55,450 8,918
Repayment from joint ventures (note 15) 0 5,225
Direct financing lease (investments) payments received (1,616) 2,358
Investment in equity accounted joint ventures (52,873) (5,396)
Net investing cash flow (105,471) (449,128)
Increase in cash and cash equivalents 122,245 6,042
Cash and cash equivalents, beginning of the period 258,473 252,138
Cash and cash equivalents, end of the period $ 380,718 $ 258,180