XML 15 R6.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated statements of cash flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net loss $ (374,080) $ (59,400) $ (81,948)
Adjustments to reconcile net loss to net cash provided by (used in) investing activities:      
Depreciation expense 33,148 34,401 35,636
Amortization of intangible assets 41,360 30,728 26,124
Goodwill and intangible asset impairments 363,522 69,062 0
Inventory write downs 36,606 14,620 25,537
Stock-based compensation expense 19,927 20,310 20,535
(Earnings) loss from unconsolidated subsidiaries, net of distributions (140) 2,073 (1,421)
Gain on contribution of subsea rentals business (33,506) 0 0
Gain realized on previously held equity investment 0 (120,392) 0
Deferred income taxes (13,552) 149 (24,418)
Deferred loan costs written off 0 0 2,978
Provision for doubtful accounts 3,342 2,903 485
Other 1,086 3,886 4,389
Changes in operating assets and liabilities      
Accounts receivable—trade (4,833) (64,844) 29,450
Inventories (60,903) (66,646) 57,294
Prepaid expenses and other current assets (7,980) 12,462 1,071
Income tax receivable 0 30,929 (32,801)
Cost and estimated profits in excess of billings 1,273 (171) 1,897
Accounts payable, deferred revenue and other accrued liabilities (4,192) 52,142 3,799
Billings in excess of costs and estimated profits earned 1,329 (2,245) (3,865)
Net cash provided by (used in) operating activities 2,407 (40,033) 64,742
Cash flows from investing activities      
Capital expenditures for property and equipment (24,043) (26,709) (16,828)
Acquisition of businesses, net of cash acquired (60,622) (162,189) (4,072)
Investment in unconsolidated subsidiary 0 (1,041) 0
Proceeds from sale of business, property and equipment 9,258 1,971 9,763
Net cash used in investing activities (75,407) (187,968) (11,137)
Cash flows from financing activities      
Borrowings of debt 221,980 107,431 0
Repayments of debt (211,783) 0 0
Repurchases of stock (2,777) (4,742) (623)
Proceeds from stock issuance 249 1,491 87,676
Payment of capital lease obligations (1,147) (1,187) (92)
Deferred financing costs 0 (2,430) (766)
Net cash provided by financing activities 6,522 100,563 86,195
Effect of exchange rate changes on cash (1,497) 8,232 (14,627)
Net increase (decrease) in cash, cash equivalents and restricted cash (67,975) (119,206) 125,173
Cash, cash equivalents and restricted cash at beginning of period 115,216 234,422 109,249
Cash, cash equivalents and restricted cash at end of period 47,241 115,216 234,422
Supplemental cash flow disclosures      
Cash paid for interest 30,269 25,986 26,331
Cash paid (refunded) for income taxes 5,560 (29,094) (6,273)
Noncash investing and financing activities      
Acquisition via issuance of stock 0 177,972 0
Assets contributed for equity method investment 18,070 0 0
Note receivable related to equity method investment transaction 4,067 0 0
Accrued purchases of property and equipment 1,708 1,398 797
Accrued consideration for acquisition $ 4,650 $ 0 $ 0