XML 80 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
OPERATING ACTIVITIES      
Net income (loss) $ 35,480 $ (311,116) $ (376,421)
Non-cash items:      
Depreciation and amortization 431,086 455,898 428,608
Amortization of in-process revenue contracts (note 6) (61,700) (72,933) (46,436)
(Gain) loss on sale of vessels and equipment (note 18a) (1,995) 6,975 (4,229)
Goodwill impairment charge 0 0 36,652
Write-down of equity accounted investments (note 18b) 0 1,767 19,411
Asset impairments and loan loss provisions (note 18b) 168,353 434,082 155,288
Bargain purchase gain (note 3a) 0 0 (68,535)
Equity (income) loss, net of dividends received (121,144) (65,639) 31,376
Income tax expense (recovery) 2,872 (14,406) 4,290
Employee stock option compensation 7,320 9,393 16,262
Unrealized foreign exchange (gain) loss (40,241) 22,137 (11,614)
Unrealized (gain) loss on derivative instruments (113,344) (40,373) 70,822
Other (6,082) 13,383 (8,314)
Change in operating assets and liabilities (note 17a) 64,184 (115,209) (84,347)
Expenditures for dry docking (72,205) (35,023) (55,620)
Net operating cash flow 292,584 288,936 107,193
FINANCING ACTIVITIES      
Proceeds from issuance of long-term debt (note 8) 2,467,795 1,417,870 2,114,879
Debt issuance costs (15,967) (10,595) (10,634)
Scheduled repayments of long-term debt (695,688) (266,242) (449,640)
Prepayments of long-term debt (1,017,818) (1,060,169) (881,207)
Repayments of capital lease obligations (10,315) (10,161) (89,145)
Decrease (increase) in restricted cash (note 10) 31,776 (33,592) 73,105
Net proceeds from equity issuances of subsidiaries (note 5) 446,893 496,224 631,057
Equity contribution by joint venture partner 4,934 86,350 0
Repurchase of Common Stock (note 12) (12,000) 0 (122,195)
Distribution from subsidiaries to non-controlling interests (269,987) (246,555) (201,942)
Cash dividends paid (90,265) (83,299) (93,480)
Other financing activities 27,219 9,840 5,847
Net financing cash flow 866,577 299,671 976,645
INVESTING ACTIVITIES      
Expenditures for vessels and equipment (753,755) (523,597) (755,045)
Proceeds from sale of vessels and equipment 47,704 250,807 33,424
Acquisition of FPSO units and Sevan Marine ASA, net of cash acquired (note 3a) 0 (92,303) (322,500)
Investment in term loans (note 4) (12,552) 0 (70,000)
Investment in equity accounted investees (note 23) (157,762) (183,554) (38,496)
Advances to equity accounted investees (14,466) (117,235) (55,156)
Investment in direct financing lease assets (note 9) (307,950) 0 0
Direct financing lease payments received 17,289 23,307 27,608
Other investing activities (2,500) 1,332 8,706
Net investing cash flow (1,183,992) (641,243) (1,171,459)
Decrease in cash and cash equivalents (24,831) (52,636) (87,621)
Cash and cash equivalents, beginning of the year 639,491 692,127 779,748
Cash and cash equivalents, end of the year $ 614,660 $ 639,491 $ 692,127