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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Statement of Cash Flows [Abstract]      
Net (loss) income $ (264,322) $ 117,514 $ 124,380
Net loss from discontinued operations 0 0 131,006
Net (loss) income from continuing operations (264,322) 117,514 255,386
Adjustments to reconcile net (loss) income from continuing operations to net cash provided by operating activities:      
Depreciation 141,748 141,043 52,607
Amortization of deferred charges 1,913 2,027 1,917
Other operating losses (gains) (2,378) 2,683 (108,923)
Gain on sale of shares (1,061) 0 0
Amortization of time charter contract value 0 (6,799) 816
Contingent rental income (26,148) (18,621) 0
Impairment loss on vessels and vessels held under capital lease 164,187 61,692 0
Provision for uncollectible receivable 0 4,000 0
Share of results from associated company and gain on equity interest 0 0 (2,727)
Impairment loss on goodwill 112,821 0 0
Impairment loss on marketable securities 0 7,233 10,507
Mark to market (gain) loss on derivatives (93) (8,017) 3,618
Dividends received from Avance Gas 0 0 4,101
Other, net 1,953 (1,232) 1,015
Changes in operating assets and liabilities, net of acquisition:      
Trade accounts receivable (506) 4,287 (21,037)
Other receivables 2,122 10,833 (5,049)
Inventories (24,079) (12,241) 9,367
Voyages in progress 7,084 6,828 15,505
Prepaid expenses and accrued income (429) (1,427) 5,892
Other current assets (1) 406 (405)
Trade accounts payable 7,485 (5,175) 2,832
Accrued expenses 12,645 (2,936) (7,771)
Related party balances 3,062 (10,707) (8,601)
Other current liabilities (6,178) (5,583) 5,574
Other 660 207 (868)
Cash (used in) provided by operating activities of discontinued operations 0 0 (6,410)
Net cash provided by operating activities 130,485 286,015 207,346
Investing activities      
Change in restricted cash (64) (309) 35,713
Additions to newbuildings, vessels and equipment (713,560) (622,460) (786,772)
Refund of newbuilding installments and interest 0 43,497 58,793
Purchase of shares (46,100) 0 0
Proceeds from sale of newbuilding vessels 0 173,187 456,366
Cash acquired upon the Merger 0 0 87,443
Finance lease payments received 9,745 9,333 0
Net proceeds from sale of shares 27,412 0 0
Cash used in investing activities of discontinued operations 0 0 (310,822)
Net cash used in investing activities (722,567) (396,752) (459,279)
Financing activities      
Net proceeds from issuance of shares 0 98,200 0
Proceeds from long-term debt 673,416 356,066 659,700
Repayment of long-term debt (83,951) (169,883) (427,338)
Payment of obligations under finance leases (31,854) (61,677) (5,491)
Lease termination receipts / (payments) (19,006) 0 3,266
Payment of related party loan note 0 0 (112,687)
Debt fees paid (3,495) (9,523) (485)
Cash dividends paid (51,401) (164,551) (39,228)
Payment for fractional shares on reverse share split 0 (17) 0
Proceeds from secured short-term borrowings 10,116 0 0
Cash provided by financing activities of discontinued operations 0 0 141,775
Net cash provided by financing activities 493,825 48,615 219,512
Net change in cash and cash equivalents (98,257) (62,122) (32,421)
Net change in cash balances included in held for distribution 0 0 61,144
Cash and cash equivalents at beginning of year 202,402 264,524 235,801
Cash and cash equivalents at end of year 104,145 202,402 264,524
Supplemental disclosure of cash flow information:      
Interest paid, net of interest capitalized 57,291 53,474 17,544
Income taxes paid $ 1,222 $ 716 $ 0