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v3.7.0.1

Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2014 | Jul. 09, 2014 | Dec. 31, 2016 | Dec. 31, 2015
Cash flows from operating activities: |  |  |  |
Net loss | $ (213,358) |  | $ (217,757) | $ (254,368)
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |
Goodwill impairment | 166,067 |  |  |
Depreciation and amortization | 36,714 |  | 76,330 | 79,556
Amortization of deferred financing costs | 845 |  | 2,847 | 2,379
PIK interest, net |  |  | 800 |
Amortization of time charters acquired | (450) |  |  |
Amortization of nonvested stock compensation expense | 20,405 |  | 20,680 | 42,136
Impairment of vessel assets | 0 |  | 69,278 | 39,893
(Gain) loss on sale of vessels |  |  | (3,555) | 900
Impairment of investment | 0 |  | 2,696 | 37,877
Realized (gain) loss on sale of investment |  |  | (689) | 724
Change in assets and liabilities: |  |  |  |
Decrease (increase) in due from charterers | (1,545) |  | 213 | 4,153
Decrease (increase) in prepaid expenses and other current assets | 8,343 |  | 5,485 | 1,181
(Decrease) increase in accounts payable and accrued expenses | (39,170) |  | (5,309) | 1,883
Increase (decrease) in deferred revenue | 400 |  | 430 | (339)
Increase in lease obligations | 390 |  | 719 | 759
Deferred drydock costs incurred | (6,376) |  | (2,150) | (12,820)
Net cash used in operating activities | (26,835) |  | (49,982) | (56,086)
Cash flows from investing activities: |  |  |  |
Purchase of vessels, including deposits | (24,473) |  | (458) | (66,590)
Purchase of other fixed assets | (208) |  | (329) | (770)
Net proceeds from sale of vessel assets |  |  | 13,024 |
Sale of AFS securities |  |  | 10,489 | 706
Changes in deposits of restricted cash | (19,420) |  | (15,853) | 9,880
Net cash provided by (used in) investing activities | (44,101) |  | 6,873 | (56,774)
Cash flows from financing activities: |  |  |  |
Payment of dividend by subsidiary | (1,025) |  |  |
Cash settlement of non-accredited Note holders | (484) |  | (101) | (777)
Proceeds from issuance of Series A Preferred Stock |  |  | 125,000 |
Payment of Series A Preferred Stock issuance costs |  |  | (3,108) |
Payment of deferred financing costs | (2,322) |  | (1,500) | (7,003)
Net cash provided by financing activities | 18,273 |  | 55,435 | 150,520
Net increase (decrease) in cash and cash equivalents | (52,663) |  | 12,326 | 37,660
Cash and cash equivalents at beginning of period | 136,077 |  | 121,074 | 83,414
Cash and cash equivalents at end of period | 83,414 | $ 136,077 | 133,400 | 121,074
Secured Debt | $400 Million Credit Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Proceeds from Term Loan Facility |  |  | 400,000 |
Secured Debt | $100 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility | (3,846) |  | (60,099) | (7,692)
Secured Debt | $253 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility | (5,075) |  | (145,268) | (20,300)
Secured Debt | $44 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility | (1,375) |  | (38,500) | (2,750)
Secured Debt | $22 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility | (750) |  | (18,625) | (1,500)
Secured Debt | 2014 Term Loan Facilities |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility |  |  | (2,763) | (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
Repayment of line of credit facility |  |  | (56,218) |
Line of Credit Facility | $98 Million Credit Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Proceeds from credit facility |  |  |  | 98,271
Repayment of line of credit facility |  |  | (3,000) |
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 |  |  | $ (140,383) | (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) |  |
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |
Reorganization Items And Fresh-Start Accounting Adjustments, Net |  | 880,408 |  |
Depreciation and amortization |  | 75,952 |  |
Amortization of deferred financing costs |  | 4,461 |  |
Amortization of time charters acquired |  | 68 |  |
Amortization of discount on Convertible Senior Notes |  | 1,592 |  |
Interest expense related to the de-designation of the interest rate swap |  | 1,048 |  |
Amortization of nonvested stock compensation expense |  | 4,352 |  |
Impairment of vessel assets |  | 0 |  |
Impairment of investment |  | 0 |  |
Change in assets and liabilities: |  |  |  |
Decrease (increase) in due from charterers |  | 1,047 |  |
Decrease (increase) in prepaid expenses and other current assets |  | (11,735) |  |
(Decrease) increase in accounts payable and accrued expenses |  | 32,534 |  |
Increase (decrease) in deferred revenue |  | (600) |  |
Increase in lease obligations |  | 195 |  |
Deferred drydock costs incurred |  | (9,253) |  |
Net cash used in operating activities |  | (33,317) |  |
Cash flows from investing activities: |  |  |  |
Purchase of vessels, including deposits |  | (29,995) |  |
Purchase of other fixed assets |  | (415) |  |
Changes in deposits of restricted cash |  | (125) |  |
Net cash provided by (used in) investing activities |  | (30,535) |  |
Cash flows from financing activities: |  |  |  |
Payment of dividend by subsidiary |  | (2,046) |  |
Proceeds from Rights Offering |  | 100,000 |  |
Payment of common stock issuance costs by subsidiary |  | (111) |  |
Payment of deferred financing costs |  | (4,515) |  |
Net cash provided by financing activities |  | 77,207 |  |
Net increase (decrease) in cash and cash equivalents |  | 13,355 |  |
Cash and cash equivalents at beginning of period | $ 136,077 | 122,722 |  |
Cash and cash equivalents at end of period |  | 136,077 |  |
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) |  |
Predecessor | Secured Debt | $22 Million Term Loan Facility |  |  |  |
Cash flows from financing activities: |  |  |  |
Repayments on Term Loan Facility |  | $ (750) |  |

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- Definition Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585 + Details
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- Definition Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585 + Details
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- Definition The cash outflow for loan and debt issuance costs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3291-108585 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 outflow for cost incurred directly with the issuance of an equity security. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3291-108585 + 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=56944662&loc=d3e3213-108585 + Details
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- Definition The cash inflow from issuance of preferred stocks identified as being convertible into another form of financial instrument, typically the entity's common stock. + 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=56944662&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 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=56944662&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=56944662&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 Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: 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=56944662&loc=d3e3255-108585 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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- Definition The cash inflow associated with the sale of debt and equity securities classified as available-for-sale securities. + 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 320 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=49167202&loc=d3e26853-111562 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3179-108585 + Details
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=51664549&loc=SL4569616-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=35736750&loc=SL4591552-111686 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (a),(c) -URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=35736750&loc=SL4591551-111686 + Details
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- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3291-108585 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of 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 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3291-108585 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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