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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Statement of Cash Flows [Abstract]      
Net income $ 117,514 $ 124,380 $ 86,255
Net loss from discontinued operations 0 131,006 51,159
Net income from continuing operations 117,514 255,386 137,414
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:      
Depreciation 141,043 52,607 31,845
Amortization of deferred charges 2,027 1,917 677
Other operating loss (gain) 2,683 (108,923) (68,989)
Gain on sale of shares 0 0 (16,850)
Amortization of time charter contract value (6,799) 816 2,822
Contingent rental income (18,621) 0 0
Impairment loss on vessels and vessels held under capital lease 61,692 0 0
Provision for uncollectible receivable 4,000 0 0
Share of results from associated company and gain on equity interest 0 (2,727) (16,064)
Debt modification fees paid 0 0 (2,640)
Impairment loss on marketable securities 7,233 10,507 0
Mark to market (gain) loss on derivatives (8,017) 3,618 5,765
Dividends received from Avance Gas 0 4,101 7,052
Other, net (1,232) 1,015 339
Changes in operating assets and liabilities, net of acquisition:      
Trade accounts receivable 4,287 (21,037) (6,116)
Other receivables 10,833 (5,049) 1
Inventories (12,241) 9,367 (2,917)
Voyages in progress 6,828 15,505 (10,021)
Prepaid expenses and accrued income (1,427) 5,892 (1,494)
Other current assets 406 (405) 0
Trade accounts payable (5,175) 2,832 145
Accrued expenses (2,936) (7,771) (2,443)
Related party balances (10,707) (8,601) (1,715)
Other current liabilities (5,583) 5,574 1,169
Other 207 (868) 0
Cash (used in) provided by operating activities of discontinued operations 0 (6,410) 661
Net cash provided by operating activities 286,015 207,346 58,641
Investing activities      
Change in restricted cash (309) 35,713 (35,800)
Additions to newbuildings, vessels and equipment (622,460) (786,772) (202,231)
Refund of newbuilding installments and interest 43,497 58,793 173,840
Sale proceeds received in advance 0 0 139,200
Proceeds from sale of newbuilding vessels 173,187 456,366 0
Cash acquired upon the Merger 0 87,443 0
Finance lease payments received 9,333 0 0
Net proceeds from sale of shares in associated company 0 0 57,140
Cash used in investing activities of discontinued operations 0 (310,822) (195,658)
Net cash used in investing activities (396,752) (459,279) (63,509)
Financing activities      
Net proceeds from issuance of shares 98,200 0 0
Proceeds from long-term debt 356,066 659,700 124,000
Repayment of long-term debt (169,883) (427,338) (198,889)
Payment of obligations under finance leases (61,677) (5,491) 0
Lease termination receipt 0 3,266 0
Payment of related party loan note 0 (112,687) 0
Debt fees paid (9,523) (485) (500)
Cash dividends paid (164,551) (39,228) (36,969)
Payment of fractional shares on reverse share split (17) 0 0
Acquisition of treasury shares 0 0 (50,397)
Cash provided by financing activities of discontinued operations 0 141,775 116,819
Net cash provided by (used in) financing activities 48,615 219,512 (45,936)
Net change in cash and cash equivalents (62,122) (32,421) (50,804)
Net change in cash balances included in held for distribution 0 61,144 (61,144)
Cash and cash equivalents at beginning of year 264,524 235,801 347,749
Cash and cash equivalents at end of year 202,402 264,524 235,801
Supplemental disclosure of cash flow information:      
Interest paid, net of interest capitalized 53,474 17,544 8,744
Income taxes paid $ 716 $ 0 $ 0