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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended 4 Months Ended 8 Months Ended 12 Months Ended
Apr. 30, 2014
Jun. 30, 2014
Dec. 31, 2015
Mar. 31, 2015
Dec. 31, 2014
Mar. 31, 2014
Apr. 30, 2014
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from financing activities                      
Cash and cash equivalents at beginning of period       $ 163,405         $ 163,405    
Cash and cash equivalents at end of period     $ 320,122   $ 163,405     $ 163,405 320,122 $ 163,405  
Successor Company                      
Net income (loss)   $ 45,144 (168,074) (46,546) (187,172)     (219,229) (334,675)    
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:                      
Net realized and unrealized (gain) loss on derivatives and foreign exchange               18,507 (2,158)    
Net (gain) loss on restructuring and extinguishment of debt               0 0    
Unrealized (depreciation) appreciation on investments allocable to noncontrolling interests               5,956 (23,429)    
Write-off of debt issuance costs               0 0    
Lower of cost or estimated fair value adjustment on corporate loans held for sale               0 0    
Provision for loan losses               0 0    
Impairment charges               0 0    
Share-based compensation               0 0    
Net realized and unrealized (gain) loss on investments               343,416 451,138    
Depreciation and net amortization               21,391 28,242    
Net realized and unrealized (gain) loss on debt               (16,478) 19,659    
Changes in assets and liabilities:                      
Interest receivable               (11,485) 26,607    
Other assets               (21,117) (33,780)    
Related party payable               5,724 (1,512)    
Preferred share distribution payable               0 0    
Accounts payable, accrued expenses and other liabilities               (20,561) 30,949    
Accrued interest payable               1,769 1,217    
Accrued interest payable to affiliates               0 0    
Net cash provided by (used in) operating activities               107,893 162,258    
Cash flows from investing activities                      
Principal payments from corporate loans               634,536 1,401,760    
Principal payments from securities               60,056 14,044    
Proceeds from sales of corporate loans               575,099 1,509,737    
Proceeds from sales of securities               38,342 173,075    
Proceeds from equity and other investments               89,697 74,609    
Purchases of corporate loans               (1,245,460) (1,873,963)    
Purchases of securities               (95,881) (19,387)    
Purchases of equity and other investments               (158,618) (102,365)    
Net change in proceeds, purchases and settlements of derivatives               (7,295) 22,176    
Net change in restricted cash and cash equivalents               202,355 (39,867)    
Net cash provided by (used in) investing activities               92,831 1,159,819    
Cash flows from financing activities                      
Issuance of collateralized loan obligation secured notes               885,983 965,823    
Retirement of collateralized loan obligation secured notes               (1,045,041) (1,672,467)    
Net proceeds from issuance of preferred shares               0 0    
Distributions on common shares               (121,088) (179,081)    
Distributions on preferred shares [1]               (13,782) (27,564)    
Distributions to Parent               (203,568) (251,748)    
Capital distributions to noncontrolling interests               0 (2,728)    
Contributions from Parent               235,759 0    
Capital contributions from Parent               605 0    
Capital contributions from noncontrolling interests               1,110 8,867    
Other capitalized costs               (7,810) (6,462)    
Net cash provided by (used in) financing activities               (247,732) (1,165,360)    
Net increase (decrease) in cash and cash equivalents               (47,008) 156,717    
Cash and cash equivalents at beginning of period   210,413   $ 163,405       210,413 163,405    
Cash and cash equivalents at end of period $ 210,413   320,122   163,405   $ 210,413 163,405 320,122 163,405  
Supplemental cash flow information                      
Cash paid for interest               114,939 167,215    
Net cash paid (refunded) for income taxes               93 (4,532)    
Non-cash investing and financing activities                      
Assets distributed to Parent               (292,425) 0    
Assets contributed from Parent               239,085 251,748    
Assets contributed from noncontrolling interests               105,015 0    
Natural resources assets transferred out               (114,546) 0    
Interest in Trinity transferred in               114,546 0    
Preferred share distributions declared, not yet paid     $ 6,891   $ 6,891     6,891 6,891 6,891  
Loans transferred from held for investment to held for sale               0 0    
Conversion of convertible senior notes to common shares               0 0    
Issuance of restricted common shares               0 0    
Predecessor Company                      
Net income (loss) (2,203)         $ 108,183 105,980       $ 293,230
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:                      
Net realized and unrealized (gain) loss on derivatives and foreign exchange             9,783       6,838
Net (gain) loss on restructuring and extinguishment of debt             0       20,015
Unrealized (depreciation) appreciation on investments allocable to noncontrolling interests             0       0
Write-off of debt issuance costs             1,472       6,674
Lower of cost or estimated fair value adjustment on corporate loans held for sale             (5,038)       5,899
Provision for loan losses             0       32,812
Impairment charges             4,391       19,512
Share-based compensation             1,018       4,559
Net realized and unrealized (gain) loss on investments             (60,906)       (182,485)
Depreciation and net amortization             15,832       7,123
Net realized and unrealized (gain) loss on debt             0       0
Changes in assets and liabilities:                      
Interest receivable             (6,753)       3,333
Other assets             (19,668)       (37,660)
Related party payable             (1,815)       (4,144)
Preferred share distribution payable             0       (6,891)
Accounts payable, accrued expenses and other liabilities             27,211       (13,674)
Accrued interest payable             (1,470)       3,056
Accrued interest payable to affiliates             0       (6,632)
Net cash provided by (used in) operating activities             70,037       151,565
Cash flows from investing activities                      
Principal payments from corporate loans             906,166       1,437,139
Principal payments from securities             21,223       169,646
Proceeds from sales of corporate loans             36,595       270,204
Proceeds from sales of securities             44,373       39,431
Proceeds from equity and other investments             48,911       155,132
Purchases of corporate loans             (886,230)       (2,099,033)
Purchases of securities             (78,106)       (228,131)
Purchases of equity and other investments             (104,301)       (513,933)
Net change in proceeds, purchases and settlements of derivatives             (7,265)       (3,110)
Net change in restricted cash and cash equivalents             (299,579)       546,011
Net cash provided by (used in) investing activities             (318,213)       (226,644)
Cash flows from financing activities                      
Issuance of collateralized loan obligation secured notes             648,197       665,188
Retirement of collateralized loan obligation secured notes             (221,914)       (839,625)
Net proceeds from issuance of preferred shares             0       361,622
Distributions on common shares             (45,061)       (184,314)
Distributions on preferred shares [1]             (13,782)       (20,520)
Distributions to Parent             0       0
Capital distributions to noncontrolling interests             0       0
Contributions from Parent             0       0
Capital contributions from Parent             0       0
Capital contributions from noncontrolling interests             0       0
Other capitalized costs             (3,918)       (5,211)
Net cash provided by (used in) financing activities             301,422       (5,360)
Net increase (decrease) in cash and cash equivalents             53,246       (80,439)
Cash and cash equivalents at beginning of period   $ 210,413       $ 157,167 157,167 210,413   $ 157,167 237,606
Cash and cash equivalents at end of period 210,413           210,413       157,167
Supplemental cash flow information                      
Cash paid for interest             53,576       155,184
Net cash paid (refunded) for income taxes             157       7,685
Non-cash investing and financing activities                      
Assets distributed to Parent             0       0
Assets contributed from Parent             0       0
Assets contributed from noncontrolling interests             0       0
Natural resources assets transferred out             0       0
Interest in Trinity transferred in             0       0
Preferred share distributions declared, not yet paid $ 0           0       0
Loans transferred from held for investment to held for sale             348,808       323,416
Conversion of convertible senior notes to common shares             0       186,254
Issuance of restricted common shares             0       3,282
Other Credit Facilities | Successor Company                      
Cash flows from financing activities                      
Proceeds from credit facilities               115,100 0    
Repayment of credit facilities               (95,000) 0    
Other Credit Facilities | Predecessor Company                      
Cash flows from financing activities                      
Proceeds from credit facilities             13,300       79,200
Repayment of credit facilities             (75,400)       (61,700)
CLO Warehouse Facility | Successor Company                      
Cash flows from financing activities                      
Proceeds from credit facilities               0 274,296    
Repayment of credit facilities               $ 0 $ (274,296)    
CLO Warehouse Facility | Predecessor Company                      
Cash flows from financing activities                      
Proceeds from credit facilities             0       0
Repayment of credit facilities             $ 0       $ 0
[1] For the four months ended April 30, 2014, $6.9 million of distributions on preferred shares was previously presented as "preferred share distribution payable" within operating activities of the consolidated statements of cash flows.