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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES    
Net income (loss) $ 177,502 $ (95,575)
Non-cash and non-operating items:    
Depreciation and amortization 135,853 145,956
Unrealized loss on derivative instruments (note 16) 27,544 14,933
Write-down and gain (loss) on sale (note 7) 105,275 3,328
Gain on commencement of sales-type lease (note 3) 44,943 0
Equity (income) loss, net of dividends received (22,804) 85,211
Income tax (recovery) expense (note 17) 13,383 (8,440)
Foreign currency exchange loss and other 6,133 26,304
Direct financing lease payments received 334,146 6,050
Change in other operating assets and liabilities 75,978 18,427
Expenditures for dry docking 5,608 34,150
Net Cash Provided by (Used in) Operating Activities 775,693 178,924
FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt, net of issuance costs 931,871 376,658
Early Repayment of Senior Debt 1,302,389 759,401
Scheduled repayments of long-term debt and settlement of related swaps (note 10) (240,355) (117,110)
Proceeds from short-term debt 205,000 65,000
Prepayment of short-term debt (245,000) (50,000)
Proceeds from financing related to sale-leaseback of vessels 0 222,400
Repayments of obligations related to finance leases 47,162 45,928
Repurchase of Teekay LNG common units 15,635 12,056
Distributions paid from subsidiaries to non-controlling interests (35,519) (30,465)
Cash dividends paid 0 5,523
Other financing activities (794) (580)
Net Cash Provided by (Used in) Financing Activities (749,983) (357,005)
INVESTING ACTIVITIES    
Expenditures for vessels and equipment (12,824) (89,120)
Proceeds from sale of vessels and equipment 60,915 0
Proceeds from Divestiture of Businesses, Net of Cash Divested 12,221 100,000
Investment in equity-accounted investments 0 15,555
Loan repayment by joint venture (3,500) 0
Other investing activities (6,430) 0
Net Cash Provided by (Used in) Investing Activities 57,382 (4,675)
Increase (decrease) in cash, cash equivalents, restricted cash and cash held for sale 83,092 (182,756)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning balance 456,325 505,639
Cash, cash equivalents, restricted cash and restricted cash equivalents, ending balance $ 539,417 $ 322,883