XML 43 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 76,449 $ 1,799
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization (other than multi-client library) 7,904 4,200
Amortization of multi-client library 16,326 18,592
Stock-based compensation expense 2,777 2,011
Equity in earnings (losses) of investments 1,688 (1,116)
Reduction of accrual for loss contingency related to legal proceedings (69,557) 0
Deferred income taxes (884) (6,150)
Change in operating assets and liabilities:    
Accounts receivable 60,646 35,307
Unbilled receivables (18,945) 11,938
Inventories (144) 1,381
Accounts payable, accrued expenses and accrued royalties (5,359) (13,373)
Deferred revenue (4,678) (7,153)
Other assets and liabilities (3,541) 2,155
Net cash provided by operating activities 62,682 49,591
Cash flows from investing activities:    
Cash invested in multi-client data library (22,353) (28,778)
Purchase of property, plant, equipment and seismic rental assets (1,997) (3,774)
Repayment of advances to INOVA Geophysical 1,000 0
Investment in and advances to OceanGeo B.V. (3,683) (9,500)
Cash of OceanGeo B.V. upon acquiring a controlling interest 609 0
Investment in convertible note 0 (1,000)
Other investing activities 605 76
Net cash used in investing activities (25,819) (42,976)
Cash flows from financing activities:    
Borrowings under revolving line of credit 15,000 0
Payments on long-term debt (2,755) (848)
Payment of preferred dividends 0 (338)
Proceeds from exercise of stock options 246 716
Other financing activities (80) 350
Net cash provided by (used in) financing activities 12,411 (120)
Effect of change in foreign currency exchange rates on cash and cash equivalents (24) (891)
Net increase in cash and cash equivalents 49,250 5,604
Cash and cash equivalents at beginning of period 148,056 60,971
Cash and cash equivalents at end of period $ 197,306 $ 66,575