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v3.3.1.900

Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2014 | Jul. 09, 2014 | Dec. 31, 2015 | Dec. 31, 2013
Cash flows from operating activities: |  |  |  |
Net loss | $ (213,358) |  | $ (254,368) |
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |
Goodwill impairment | 166,067 |  |  |
Depreciation and amortization | 36,714 |  | 79,556 |
Amortization of deferred financing costs | 845 |  | 2,379 |
Amortization of time charters acquired | 450 |  |  |
Amortization of nonvested stock compensation expense | 20,405 |  | 42,136 |
Impairment of vessel assets | 0 |  | 39,893 |
Loss on disposal of vessels |  |  | 900 |
Impairment of investment | 0 |  | 37,877 |
Realized loss on sale of investment |  |  | 724 |
Change in assets and liabilities: |  |  |  |
Decrease (increase) in due from charterers | (1,545) |  | 4,153 |
Decrease (increase) in prepaid expenses and other current assets | 8,343 |  | 1,181 |
Increase (decrease) in accounts payable and accrued expenses | (39,170) |  | 1,883 |
(Decrease) increase in deferred revenue | 400 |  | (339) |
Increase in lease obligations | 390 |  | 759 |
Deferred drydock costs incurred | (6,376) |  | (12,820) |
Net cash used in operating activities | (26,835) |  | (56,086) |
Cash flows from investing activities: |  |  |  |
Purchase of vessels, including deposits | (24,473) |  | (66,590) |
Purchase of other fixed assets | (208) |  | (770) |
Sale of AFS securities |  |  | 706 |
Changes in deposits of restricted cash | (19,420) |  | 9,880 |
Net cash used in investing activities | (44,101) |  | (56,774) |
Cash flows from financing activities: |  |  |  |
Payment of dividend by subsidiary | (1,025) |  |  |
Cash settlement of non-accredited Note holders | (484) |  | (777) |
Payment of deferred financing costs | (2,322) |  | (7,003) |
Net cash provided by financing activities | 18,273 |  | 150,520 |
Net increase (decrease) in cash and cash equivalents | (52,663) |  | 37,660 |
Cash and cash equivalents at beginning of period | 136,077 |  | 83,414 |
Cash and cash equivalents at end of period | 83,414 | $ 136,077 | 121,074 |
Secured Debt | $100 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility | (3,846) |  | (7,692) |
Secured Debt | $253 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility | (5,075) |  | (20,300) |
Proceeds from credit facility |  |  | 253,000 |
Secured Debt | $44 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility | (1,375) |  | (2,750) |
Secured Debt | $22 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility | (750) |  | (1,500) |
Secured Debt | 2014 Term Loan Facilities |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility |  |  | (2,081) |
Proceeds from Term Loan Facility | 33,150 |  |  |
Revolving credit facility | 2015 Revolving Credit Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Proceeds from credit facility |  |  | 56,218 |
Line of Credit facility | $98 Million Credit Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Proceeds from credit facility |  |  | 98,271 |
Line of Credit facility | $148 Million Credit Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Proceeds from credit facility |  |  | 148,000 |
Repayment of line of credit facility |  |  | (7,616) |
Line of Credit facility | 2010 Credit Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayment of line of credit facility |  |  | $ (102,250) |
Predecessor |  |  |  |
Cash flows from operating activities: |  |  |  |
Net loss |  | (1,013,250) |  | $ (157,021)
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |
Non-cash reorganization items and fresh-start reporting adjustments, net |  | 880,408 |  |
Depreciation and amortization |  | 75,952 |  | 140,743
Amortization of deferred financing costs |  | 4,461 |  | 9,116
Amortization of time charters acquired |  | (68) |  | (334)
Amortization of discount on Convertible Senior Notes |  | 1,592 |  | 4,963
Receipt of stock in lieu of cash payment |  |  |  | (100)
Interest expense related to the de-designation of the interest rate swap |  | 1,048 |  |
Unrealized loss on derivative instruments |  |  |  | 4
Amortization of nonvested stock compensation expense |  | 4,352 |  | 4,482
Impairment of vessel assets |  | 0 |  | 0
Impairment of investment |  | 0 |  | 0
Change in assets and liabilities: |  |  |  |
Decrease (increase) in due from charterers |  | 1,047 |  | (2,527)
Decrease (increase) in prepaid expenses and other current assets |  | (11,735) |  | (919)
Increase (decrease) in accounts payable and accrued expenses |  | 32,534 |  | 2,765
(Decrease) increase in deferred revenue |  | (600) |  | 273
Increase in lease obligations |  | 195 |  | 143
Deferred drydock costs incurred |  | (9,253) |  | (4,732)
Net cash used in operating activities |  | (33,317) |  | (3,144)
Cash flows from investing activities: |  |  |  |
Purchase of vessels, including deposits |  | (29,995) |  | (145,350)
Purchase of other fixed assets |  | (415) |  | (1,205)
Changes in deposits of restricted cash |  | (125) |  |
Net cash used in investing activities |  | (30,535) |  | (146,555)
Cash flows from financing activities: |  |  |  |
Payment of dividend by subsidiary |  | (2,046) |  | (1,589)
Proceeds from Rights Offering |  | 100,000 |  |
Proceeds from issuance of common stock by subsidiary |  |  |  | 136,980
Payment of common stock issuance costs by subsidiary |  | (111) |  | (706)
Payment of deferred financing costs |  | (4,515) |  | (1,489)
Net cash provided by financing activities |  | 77,207 |  | 199,821
Net increase (decrease) in cash and cash equivalents |  | 13,355 |  | 50,122
Cash and cash equivalents at beginning of period | $ 136,077 | 122,722 |  | 72,600
Cash and cash equivalents at end of period |  | 136,077 |  | 122,722
Predecessor | Secured Debt | $100 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility |  | (3,846) |  |
Predecessor | Secured Debt | $253 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility |  | (10,150) |  |
Predecessor | Secured Debt | $44 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility |  | (1,375) |  |
Proceeds from Term Loan Facility |  |  |  | 44,000
Predecessor | Secured Debt | $22 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility |  | $ (750) |  | (375)
Proceeds from Term Loan Facility |  |  |  | 22,000
Predecessor | Line of Credit facility | 2010 Credit Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Proceeds from credit facility |  |  |  | $ 1,000

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- Definition Cash outflow for purchase of trading, available-for-sale securities and held-to-maturity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26853-111562 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3213-108585 + Details
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- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3213-108585 + Details
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- Definition The cash inflow from amounts received from issuance of long-term debt that is wholly or partially secured by collateral. Excludes proceeds from tax exempt secured debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 + Details
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- Definition The cash inflow from issuance of rights to purchase common shares at predetermined price (usually issued together with corporate debt). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 + Details
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