XML 11 R5.htm IDEA: XBRL DOCUMENT v3.22.2.2
UNAUDITED CONSOLIDATED STATEMENTS OF CASHFLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES          
Net income $ 696,552 $ 696,552 $ 570,439    
Add: Net (income)/loss from discontinued operations 82,352   (594,439)    
Net income/(loss) from continuing operations 778,904   (24,000)    
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:          
Depreciation and amortization 26,880   27,734    
Impairment of long-lived assets 76,155   0    
Net (income)/loss from equity method investments (3,009)   (157)    
Change in fair value of investment in listed equity securities (295,048)   86,664    
FINANCING ACTIVITIES          
Cash, cash equivalents and restricted cash within assets held for sale at the beginning of period 141,631   128,768    
Cash, cash equivalents and restricted cash within assets held for sale at end of period (59,141) (59,141) (134,926)    
Net increase/(decrease) in cash within assets held for sale 82,490   (6,158)    
Net increase in cash, cash equivalents, restricted cash and cash within assets held for sale 281,980   41,508    
Cash, cash equivalents and restricted cash at beginning of period 338,284   226,124    
Cash, cash equivalents and restricted cash at end of period 620,264 620,264 267,632    
Supplemental Cash Flow Information [Abstract]          
Cash and cash equivalents 528,798 528,798 174,438 $ 232,211 $ 86,564
Restricted cash and short-term deposits 18,238 18,238 21,146 34,025 77,540
Restricted cash 73,228 73,228 72,048 72,048 62,020
Cash, cash equivalents, restricted cash and restricted cash equivalents 620,264 $ 620,264 267,632 $ 338,284 $ 226,124
Continuing Operations          
OPERATING ACTIVITIES          
Net income/(loss) from continuing operations 778,904   (24,000)    
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:          
Depreciation and amortization 26,880   27,735    
Amortization of deferred charges and debt guarantees, net 1,658   712    
Impairment of long-lived assets 76,155   0    
Net (income)/loss from equity method investments (3,009)   (157)    
Compensation cost related to employee stock awards 1,466   1,507    
Net foreign exchange losses/(gains) 102   496    
Change in fair value of investment in listed equity securities (295,048)   86,664    
Changes in assets and liabilities:          
Trade accounts receivable (24,476)   757    
Inventories (1,694)   25    
Other current and non-current assets 3,429   7,071    
Amounts due from/to related companies (2,385)   (9,159)    
Trade accounts payable 3,539   (5,551)    
Accrued expenses (8,818)   (11,780)    
Other current and non-current liabilities (83,178)   65,475    
Net cash provided by continuing operating activities 58,050   39,407    
INVESTING ACTIVITIES          
Additions to assets under development (175,230)   (168,392)    
Additions to equity method investments 0   (8,625)    
Additions to other investments (2,447)   0    
Proceeds from subscription of equity interest in Gimi MS 11,270   12,812    
Proceeds from sale of listed equity securities 252,960   0    
Dividends received from listed equity securities 3,665   0    
Net cash provided by/(used in) continuing investing activities 90,218   (164,205)    
FINANCING ACTIVITIES          
Proceeds from short-term and long-term debt 256,000   111,513    
Net debt repayments (502,549)   (53,351)    
Cash dividends paid (25,305)   (16,702)    
Financing costs paid (7,127)   (3,426)    
Purchase of treasury shares (11,063)   (17,828)    
Net cash (used in)/provided by continuing financing activities (290,044)   20,206    
Discontinued Operations          
OPERATING ACTIVITIES          
Add: Net (income)/loss from discontinued operations 82,352   (594,439)    
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:          
Dry-docking expenditure 0   (1,591)    
Deconsolidation of lessor VIEs (59,085)   0    
Depreciation and amortization 8,699   25,264    
Amortization of deferred charges and debt guarantees, net 3,932   599    
Net (income)/loss from equity method investments 0   6,891    
(Gain)/loss on disposal and impairment of long-lived assets 105,201   (575,056)    
Compensation cost related to employee stock awards 239   374    
Net foreign exchange losses/(gains) 560   131    
Changes in assets and liabilities:          
Trade accounts receivable 836   3,589    
Inventories 0   313    
Other current and non-current assets (5,407)   1,084    
Amounts due from/to related companies (804)   0    
Trade accounts payable (7,258)   2,816    
Accrued expenses (6,923)   7,502    
Other current and non-current liabilities (24,895)   4,885    
Net cash (used in)/provided by discontinued operating activities (67,257)   71,240    
INVESTING ACTIVITIES          
Dividends received from listed equity securities 0   460    
Additions to vessels and equipment 0   (925)    
Net proceeds from disposals of equity method investments 0   121,603    
Net proceeds from disposals of long-lived assets 566,803   0    
Net cash provided by discontinued investing activities 566,803   121,138    
FINANCING ACTIVITIES          
Proceeds from short-term and long-term debt 0   9,850    
Net debt repayments (158,000)   (49,620)    
Financing costs paid (280)   (350)    
Net cash used in discontinued financing activities (158,280)   (40,120)    
Other Contract | Continuing Operations          
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:          
Change in fair value of derivative instruments (49,582)   (16,803)    
FLNG derivative | Continuing Operations          
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:          
Change in fair value of derivative instruments $ (365,893)   $ (83,585)