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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 1,642 $ (51,682)
Non-cash items included in net income (loss):    
Depreciation and amortization 51,371 46,247
Drydock amortization 9,658 9,966
Stock-based compensation charges 9,891 10,352
Loss from investments in unconsolidated affiliates 14,222 2,199
(Gain) loss on disposal of assets 1,543 (41,544)
Impairment loss (gain) 6,808 (10,664)
Restructuring expense (gain) 9,153 (982)
Deferred taxes (1,215) (4,375)
Other non-cash items (495) (2,868)
Changes in assets and liabilities, net of effects from acquisitions and dispositions:    
Accounts receivable (147,293) 86,305
Net contracts in progress and advance billings on contracts (129,932) (88,771)
Accounts payable 120,586 (31,756)
Accrued and other current liabilities 48,380 (9,706)
Pension liability and accrued postretirement and employee benefits (942) 9,563
Other assets and liabilities (19,443) (15,195)
TOTAL CASH USED IN OPERATING ACTIVITIES (26,066) (92,911)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (47,985) (154,957)
Increase in restricted cash and cash equivalents (6,842) (166,219)
Purchases of available-for-sale securities   (1,997)
Sales and maturities of available-for-sale securities 2,875 11,303
Investments in unconsolidated affiliates (4,783) (2,370)
Proceeds from asset dispositions 10,510 53,704
Other (232) (2,706)
TOTAL CASH USED IN INVESTING ACTIVITIES (46,457) (263,242)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from debt   1,337,500
Repayment of debt (13,402) (285,705)
Debt issuance cost   (45,521)
Distribution to noncontrolling interest (24) (3,754)
Other (1,437) (1,244)
TOTAL CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (14,863) 1,001,276
EFFECTS OF EXCHANGE RATE CHANGES ON CASH (1,348) 209
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (88,734) 645,332
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 665,309 118,702
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 576,575 $ 764,034