XML 43 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net loss $ (160,780) $ (151,988) $ (46,362)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation and amortization 72,972 73,732 49,811
Amortization of deferred charges and debt guarantee 13,732 (2,073) 2,459
Equity in net earnings of affiliates (47,878) (55,985) (42,220)
Gain on disposals to Golar Partners 0 [1] (102,406) (43,287)
Net loss on loss of control of Golar Power (8,483) 0 0
Loss on disposal of vessel held-for-sale 0 5,824 0
Impairment of vessel held-for-sale 0 1,032 0
Dividends received 55,517 52,800 61,967
Compensation cost related to stock options 5,816 4,125 1,619
Net foreign exchange losses 1,429 2,404 1,314
Amortization of deferred tax benefits on intra-group transfers (1,715) (3,488) (3,488)
Impairment of long-term assets 1,706 1,957 500
Impairment of loan receivable 7,627 15,010 0
Drydocking expenditure 0 (10,405) (8,947)
Change in assets and liabilities, net of effects from the sale of Golar Eskimo, Golar Igloo and Golar Maria:      
Restricted cash 47,834 (280,000) 0
Trade accounts receivable (567) 911 (10,533)
Inventories 987 (2,252) (809)
Prepaid expenses, accrued income and other assets 14,924 (6,361) 27,612
Amounts due to related companies (9,444) 15,259 (6,003)
Trade accounts payable (28,511) 8,944 (1,746)
Accrued expenses (3,410) 21,479 13,802
Other current liabilities [2] (17,273) 66,832 29,184
Net cash (used in) provided by operating activities (38,551) (344,649) 24,873
Investing activities      
Additions to vessels and equipment (14,477) (26,110) (2,359)
Additions to newbuildings (19,220) (559,667) (1,150,669)
Additions to asset under development (200,821) (111,572) (313,645)
Investment in subsidiary, net of cash acquired 0 (16) 0
Proceeds from Divestiture of Businesses and Interests in Affiliates 0 207,428 0
Additions to investments in affiliates (10,200) (5,023) 0
Short-term loan granted to third party (1,000) (2,000) 0
Proceeds from repayment of short-term loan granted 0 400 0
Proceeds from disposals to Golar Partners, net of cash disposed 107,247 226,872 155,319
Proceeds from loss of control of Golar Power, net of cash disposed 113,321 0 0
Short-term loan granted to Golar Partners 0 0 (20,000)
Additions to other long-term assets 0 0 (49,873)
Proceeds from repayment of short-term loan granted to Golar Partners 0 20,000 0
Proceeds from disposal of fixed assets 0 18,987 0
Restricted cash and short-term deposits 22,928 (25,255) (48,043)
Net cash used in investing activities (2,222) (255,956) (1,429,270)
Financing activities      
Proceeds from short-term and long-term debt (including related parties) 405,817 918,801 1,222,746
Repayments of short-term and long-term debt (including related parties) (271,858) (215,363) (239,903)
Financing costs paid (8,372) (23,266) (18,672)
Cash dividends paid (54,348) (121,358) (155,996)
Proceeds from exercise of share options 1,435 225 1,338
Purchase of treasury shares (8,214) (12,269) 0
Proceeds from issuance of equity 169,876 0 660,947
Restricted cash and short-term deposits (74,608) (32,340) 0
Net cash provided by financing activities 159,728 514,430 1,470,460
Net increase (decrease) in cash and cash equivalents 118,955 (86,175) 66,063
Cash and cash equivalents at beginning of period 105,235 191,410 125,347
Cash and cash equivalents at end of period 224,190 105,235 191,410
Cash paid during the year for:      
Interest paid, net of capitalized interest 25,437 37,964 11,372
Income taxes paid $ 555 $ 1,278 $ 1,372
[1] This includes amounts arising from transactions with related parties (see note 31).
[2] Includes accretion of discount on convertible bonds of $5.7 million, $5.3 million and $5.0 million for the years ended December 31, 2016, 2015 and 2014, respectively.