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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES    
Net income $ 259,088 $ 33,675
Non-cash items:    
Depreciation and amortization 240,903 206,831
Amortization of in-process revenue contracts (12,149) (20,036)
Unrealized (gain) loss on derivative instruments (2,968) 73,640
Gain on sale of vessels and equipment (1,643) (9,453)
Asset impairments and loan loss (recoveries) (note 7b) 15,996 (2,521)
Equity income, net of dividends received (14,667) (54,577)
Income tax (recovery) expense (243) 5,991
Unrealized foreign exchange gain and other (82,598) (15,003)
Change in operating assets and liabilities (54,303) 7,199
Expenditures for dry docking (11,102) (24,217)
Net operating cash flow 336,314 201,529
FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt, net of issuance costs 1,143,442 1,872,259
Prepayments of long-term debt (395,199) (613,516)
Scheduled repayments of long-term debt (note 8) (282,391) (669,413)
Decrease (increase) in restricted cash 4,296 (385)
Net proceeds from equity issuances of subsidiaries (note 6) 187,576 7,475
Equity contribution by joint venture partner 5,500 22,017
Issuance of common stock upon exercise of stock options 1,158 44,372
Distributions paid from subsidiaries to non-controlling interests (164,808) (155,567)
Cash dividends paid (45,910) (45,188)
Other financing activities (5,878) (3,396)
Net financing cash flow 447,786 458,658
INVESTING ACTIVITIES    
Expenditures for vessels and equipment (873,274) (602,257)
Proceeds from sale of vessels and equipment and other 8,918 165,055
Purchase of ALP (net of cash acquired of $294) (note 4d)   (2,322)
Investment in equity-accounted investments (8,604) (50,648)
Loan repayments from joint ventures and joint venture partners 16,768 6,175
Investment in direct financing lease assets   (54,800)
Increase in restricted cash (42,048)  
Other investing activities 15,121 12,850
Net investing cash flow (883,119) (525,947)
(Decrease) increase in cash and cash equivalents (99,019) 134,240
Cash and cash equivalents, beginning of the period 806,904 614,660
Cash and cash equivalents, end of the period $ 707,885 $ 748,900