XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOW FROM OPERATING ACTIVITIES:    
Net income $ 38,638 $ 17,109
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,571 26,285
Amortization of debt discount, premium and issuance costs 827 1,388
Share-based compensation 3,890 960
Loss on derivative financial instruments 3,720 0
Loss on extinguishment of debt 0 12,526
Other 592 253
Changes in assets and liabilities:    
Acquisition of Sagicor business, net of cash acquired (93,128) 0
Trade and other receivables, net (2,893) 4,810
Accounts receivable from related parties (1,595) (346)
Inventories (372) (853)
Prepayments and other assets 1,300 (28,763)
Trade and other payables (9,098) 13,046
Accounts payable to related parties 784 (1,562)
Income tax payable 777 14,853
Deferred consideration 0 649
Other liabilities 299 364
Net cash provided by operating activities 68,440 60,719
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (40,058) (12,673)
Purchase of intangibles (1,318) (179)
Proceeds from disposal of property, plant and equipment 0 18
Net cash used in investing activities (134,504) (12,834)
FINANCING ACTIVITIES:    
Proceeds from debt issuance 99,499 528,675
Issuance costs of debt 0 (7,984)
Repayment of deferred consideration 0 (1,365)
Repayment of Term Loan (4,800) (362,813)
Repayment of Senior Notes due 2020 0 (121,597)
Recapitalization transaction 0 79,658
Net cash provided by financing activities 94,699 114,574
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 28,635 162,459
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF THE PERIOD 117,229 43,163
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF THE PERIOD 145,864 205,622
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH    
Cash and cash equivalents 145,864 195,349
Restricted cash 0 10,273
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest, net of interest capitalized 28,154 27,602
Cash paid for income taxes 5,572 12,347
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Non-cash issuance of shares in business combination (see Note 4) 215,400 0
Capital expenditures incurred but not yet paid 290 277
Intangible assets capitalized but not yet paid 393 0
Non-cash PIK dividends 0 7,922
Purchase of cumulative redeemable preferred shares 0 (239,492)
Settlement of accrued dividends of cumulative redeemable preferred shares 0 (114,381)
Par value of ordinary shares issued in exchange for warrants 0 736
Non-cash dividend to warrant holders 0 879
Par value of vested restricted share awards $ 21 $ 5