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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES    
Net income (loss) $ 136,114 $ (271,483)
Non-cash and non-operating items:    
Depreciation and amortization 200,205 219,589
Unrealized loss on derivative instruments (22,373) (38,803)
Write-down and (loss) gain on sale (171,548) (179,113)
Gain on commencement of sales-type lease 44,943 0
Equity (income) loss, net of dividends received and return of capital (29,751) 71,797
Income tax (recovery) expense (9,681) 11,531
Foreign currency exchange loss and other 43,428 2,071
Direct financing lease payments received 337,363 9,242
Change in other operating assets and liabilities 92,310 41,729
Asset retirement obligation expenditures (15,207) 0
Expenditures for dry docking 9,623 46,266
Net Cash Provided by (Used in) Operating Activities 894,136 256,126
FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt, net of issuance costs 1,109,267 449,686
Prepayments of long-term debt 1,639,223 774,401
Scheduled repayments of long-term debt and settlement of related swaps (note 10) (267,953) (171,946)
Proceeds from short-term debt 235,000 125,000
Prepayment of short-term debt (265,000) (75,000)
Proceeds from financing related to sale-leaseback of vessels 0 381,526
Repayments of obligations related to finance leases 71,135 72,559
Prepayment obligations related to finance leases 0 (111,617)
Repurchase of Teekay LNG common units 15,635 25,729
Distributions paid from subsidiaries to non-controlling interests (58,081) (46,982)
Cash dividends paid 0 5,523
Other financing activities (798) (580)
Net Cash Provided by (Used in) Financing Activities (973,558) (328,125)
INVESTING ACTIVITIES    
Expenditures for vessels and equipment (18,468) (98,713)
Proceeds from sale of vessels and equipment 60,915 0
Proceeds from sale of assets, net of cash sold 24,977 100,000
Investment in equity-accounted investments 0 42,171
Loan repayment by joint venture (4,650) 0
Other investing activities (6,430) 0
Net Cash Provided by (Used in) Investing Activities 65,644 (40,884)
Decrease in cash, cash equivalents, restricted cash and cash held for sale (13,778) (112,883)
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 $ 442,547 $ 392,756