XML 74 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 114,784 $ 9,651
Net income from discontinued operations (86,823) (6,435)
Adjustments to reconcile net loss to net cash used in operating activities:    
Net investment (gains) losses (32,323) 791
Provision for (Recovery of) loan losses 30 (154)
(Income) Loss of associated companies (3,829) 15,983
Income from other investments - related party (361) (1,473)
(Income) Loss from investments held at fair value (3,886) 3,238
Deferred income taxes 1,499 3,000
Non-cash income from derivatives (296) (89)
Depreciation and amortization 20,530 19,159
Amortization of debt related costs 552 414
Reclassification of net cash settlements on derivative instruments 100 554
Stock based compensation 6,832 4,343
Impairment charges 28,338 0
Other (991) (3,940)
Net change in operating assets and liabilities:    
Receivables (21,426) (33,621)
Receivables from related parties (188) 258
Inventories (3,291) (16,129)
Prepaid and other assets (3,207) (1,474)
Accounts payable, accrued and other liabilities (960) 8,063
Payable to related parties (2,425) (1,965)
Net increase in loans held for sale (43,283) (7,587)
Net cash used in operating activities of continuing operations (30,624) (7,413)
Net cash (used in) provided by operating activities of discontinued operations (2,266) 7,861
Net cash (used in) provided by operating activities (32,890) 448
Cash flows from investing activities:    
Purchases of investments (17,825) (73,658)
Proceeds from sales of investments 59,528 97,736
Maturities of marketable securities 8 4,624
Net increase in loans and other receivables (4,467) 298
Purchases of property and equipment (10,404) (15,902)
Reclassification of restricted cash 319 (20,921)
Net cash settlements on derivative instruments (100) (554)
Proceeds from sale of assets 5,678 1,976
Acquisitions, net of cash acquired (51,504) (517)
Investments in associated companies (7,607) (144)
Proceeds from sales of discontinued operations 152,889 0
Net cash used in investing activities of discontinued operations (75) (1,490)
Other (184) (3,000)
Net cash provided by (used in) investing activities 126,256 (11,552)
Cash flows from financing activities:    
Proceeds from term loans 1,430 4,500
Net revolver (repayments) borrowings (78,052) 46,932
Net borrowings of term loans – foreign 268 323
Repayments of term loans – domestic (7,448) (13,016)
Subsidiary's purchases of the Company's common units (4,458) (5,252)
Purchases of the Company's common units (1,917) (49,470)
Subsidiary's purchases of their common stock (268) (10,274)
Purchase of subsidiary shares from non-controlling interests (93) (3,045)
Deferred finance charges (328) (88)
Net change in overdrafts (176) 1,912
Net increase in deposits 22,806 1,782
Other (191) 776
Net cash provided by financing activities of discontinued operations 0 1,495
Net cash used in financing activities (68,427) (23,425)
Net change for the period 24,939 (34,529)
Effect of exchange rate changes on cash and cash equivalents (137) 54
Cash and cash equivalents at beginning of period 188,983 203,980
Cash and cash equivalents at end of period 213,785 169,505
Cash paid during the period for:    
Interest 4,762 5,738
Taxes 10,756 6,517
Non-cash investing activities:    
Reclassification of investment in associated company to cost of an acquisition 66,239 0
Reclassification of available-for-sale securities to equity method investment 10,858 27,647
Securities received in exchange for financial instrument obligations 76 19,341
Securities delivered in exchange for settlement of financial instrument obligations 76 0
Net increase in restricted cash from purchase of foreign currency financial instruments 0 (911)
Non-cash financing activities:    
Repurchase of common stock by subsidiary not paid 0 (10,023)
Restricted stock awards surrendered to satisfy tax withholding obligations upon vesting 32 0
Contribution of advances by non-controlling interest of subsidiary 0 268
Subsidiary restricted stock awards surrendered to satisfy withholding upon vesting $ 0 $ 14