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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 153,580 $ 35,753
Non-cash items included in net income:    
Depreciation and amortization 78,032 76,755
Impairment loss   44,069
Stock-based compensation charges 19,543 14,011
Loss from investments in Unconsolidated Affiliates 11,495 2,844
Other non-cash items 17,525 7,782
Changes in operating assets and liabilities that provided (used) cash:    
Accounts receivable 119,623 (29,661)
Contracts in progress, net of Advance billings on contracts (673,420) 53,608
Accounts payable 338,906 (110,196)
Accrued and other current liabilities 79,866 (13,426)
Other assets and liabilities, net (9,648) 44,060
Total cash provided by operating activities 135,502 125,599
Cash flows from investing activities:    
Purchases of property, plant and equipment [1] (97,106) (197,393)
Proceeds from asset dispositions 55,391 1,123
Investments in Unconsolidated Affiliates (2,769) (4,105)
Total cash used in investing activities (44,484) (200,375)
Cash flows from financing activities:    
Repayment of debt (230,715) (93,755)
Payment of debt issuance cost (20,564) (8,256)
Acquisition of Noncontrolling interest (10,652)  
Repurchase of common stock (7,126) (3,909)
Total cash used in financing activities (269,057) (105,920)
Effects of exchange rate changes on cash, cash equivalents and restricted cash 279 (861)
Net decrease in cash, cash equivalents and restricted cash (177,760) (181,557)
Cash, cash equivalents and restricted cash at beginning of period 612,333 781,645
Cash, cash equivalents and restricted cash at end of period $ 434,573 $ 600,088
[1] Corporate and Other capital expenditures in the first nine months of 2017 include the purchase of the Amazon, a pipelay and construction vessel. Following the purchase we sold this vessel to an unrelated third party and simultaneously entered into an 11-year bareboat charter agreement, see Note 8, Sale Leaseback.