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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 19,361 $ 1,642
Non-cash items included in net income:    
Depreciation and amortization 41,997 51,371
Drydock amortization 6,932 9,658
Impairment loss 32,311 6,808
Stock-based compensation charges 9,242 9,891
Loss from investments in unconsolidated affiliates 4,351 14,222
Loss (gain) on asset disposals (362) 1,543
Restructuring (gain) expense (1,500) 9,153
Deferred income taxes 5,667 (1,215)
Other non-cash items 1,143 (495)
Changes in assets and liabilities that provided (used) cash:    
Accounts receivable (30,835) (147,293)
Contracts in progress, net of advance billings on contracts 67,698 (129,932)
Accounts payable (65,212) 120,586
Accrued and other current liabilities (45,523) 48,380
Pension liability (751) (942)
Other assets and liabilities 31,271 (19,443)
Total cash provided by (used in) operating activities 75,790 (26,066)
Cash flows from investing activities:    
Purchases of property, plant and equipment [1] (170,674) (47,985)
(Increase) decrease in restricted cash and cash equivalents 4,009 (6,842)
Investments in unconsolidated affiliates (4,105) (4,783)
Proceeds from asset dispositions 388 10,510
Sales and maturities of available-for-sale securities   2,875
Other investing activities   (232)
Total cash used in investing activities (170,382) (46,457)
Cash flows from financing activities:    
Repayment of debt (88,845) (13,402)
Repurchase of common stock (2,572) (1,448)
Payment of debt issuance costs (8,211)  
Other   (13)
Total cash used in financing activities (99,628) (14,863)
Effects of exchange rate changes on cash and cash equivalents (601) (1,348)
Net decrease in cash and cash equivalents (194,821) (88,734)
Cash and cash equivalents at beginning of period 664,844 665,309
Cash and cash equivalents at end of period $ 470,023 $ 576,575
[1] Total capital expenditures represent expenditures for which cash payments were made during the period. Capital expenditures for the three months ended June 30, 2016 included $1 million of cash payments for liabilities outstanding as of March 31, 2016 and for the six months ended June 30, 2016 excluded $2 million in accrued liabilities outstanding at the end of the period. Capital expenditures for the three and six months ended June 30, 2015 included $8 million and $11 million, respectively, of cash payments for accrued capital expenditures outstanding at the end of the respective periods.