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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 9,176 $ (77,628)
Non-cash items included in net income (loss):    
Depreciation and amortization 75,982 68,655
Drydock amortization 13,910 15,567
Stock-based compensation charges 12,991 14,387
Loss from investments in unconsolidated affiliates 18,748 5,647
Loss (gain) on disposal of assets 1,443 (46,362)
Impairment loss (recovery) 6,808 (10,664)
Restructuring expense (gain) 11,954 (2,235)
Deferred taxes 2,315 (4,175)
Other non-cash items 3,164 5,210
Changes in assets and liabilities, net of effects from acquisitions and dispositions:    
Accounts receivable 11,294 44,368
Net contracts in progress and advance billings on contracts (260,317) 10,353
Accounts payable 98,552 (99,588)
Accrued and other current liabilities (7,269) (16,200)
Pension liability and accrued postretirement and employee benefits (1,319) 1,180
Other assets and liabilities (2,778) (20,813)
TOTAL CASH USED IN OPERATING ACTIVITIES (5,346) (112,298)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment [1] (66,118) (216,526)
Restricted cash and cash equivalents 51,769 (215,663)
Purchases of available-for-sale securities   (1,997)
Sales and maturities of available-for-sale securities 3,175 12,903
Investments in unconsolidated affiliates (6,960)  
Proceeds from asset dispositions 10,669 70,252
Other 417 (5,076)
TOTAL CASH USED IN INVESTING ACTIVITIES (7,048) (356,107)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from debt   1,337,500
Repayment of debt (18,004) (289,542)
Debt issuance cost   (46,914)
Distribution to noncontrolling interest (24) (5,002)
Other (928) (1,537)
TOTAL CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (18,956) 994,505
EFFECTS OF EXCHANGE RATE CHANGES ON CASH (2,574) (851)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (33,924) 525,249
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 665,309 118,702
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 631,385 $ 643,951
[1] Total capital expenditures include expenditures for which cash payments were made during the period. Capital expenditures for the three and nine months ended September 30, 2015 included $1.2 million and $10.2 million, respectively, of cash payments for accrued capital expenditures outstanding as of December 31, 2014. Capital expenditures for the three months ended September 30, 2014 exclude $9.5 million in accrued liabilities related to capital expenditures and for the nine months ended September 30, 2014 include $18.6 million of cash payments for accrued capital expenditures outstanding as of December 31, 2013.