v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities:      
Net earnings $ 26,924 $ 32,688 $ 58,956
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 71,618 50,848 42,848
Deferred income taxes 12,894 16,071 21,921
Loss (gain) on asset dispositions 339 848 (16,604)
Equity in loss of unconsolidated affiliate 306 96 262
Loss on debt extinguishment   29,833  
Impairment of assets   10,507 1,648
Inventory valuation reserves 3,231    
Other (1,277) (96) 427
Changes in operating assets and liabilities:      
Accounts receivable 36,579 (6,758) (32,123)
Inventories of spare parts 1,441 (2,656) (5,062)
Income taxes receivable 466 644 (1,015)
Other assets (14,998) (1,212) 3,104
Accounts payable and accrued liabilities (3,859) (10,946) 27,191
Other long-term liabilities 254 (348) 3,543
Net cash provided by operating activities 133,918 119,519 105,096
Investing activities:      
Purchase of property and equipment (57,123) (157,690) (102,726)
Proceeds from asset dispositions 5,236 10,266 42,197
Purchase of short-term investments (608,649) (465,094) (375,503)
Proceeds from sale of short-term investments 505,966 363,110 338,970
Payments of deposits on aircraft (1,273) (6,948) (9,318)
Refunds of deposits on aircraft 6,010 11,506 8,161
Loan to unconsolidated affiliate   (200)  
Net cash used in investing activities (149,833) (245,050) (98,219)
Financing activities:      
Proceeds from issuance of Senior Notes due 2019   500,000  
Repayment of Senior Notes due 2018   (300,000)  
Premium and costs to retire debt early   (26,749)  
Debt issuance costs   (6,232)  
Repurchase of common stock (2,448) (152) (1,037)
Proceeds from line of credit 232,660 264,253 164,771
Payments on line of credit (218,160) (300,253) (172,526)
Net cash provided by (used in) financing activities 12,052 130,867 (8,792)
(Decrease) increase in cash (3,863) 5,336 (1,915)
Cash, beginning of year 6,270 934 2,849
Cash, end of year 2,407 6,270 934
Cash paid during the period for:      
Interest 27,657 25,415 28,675
Income Taxes 5,521 9,590 1,161
Accrued payables related to purchases of property and equipment $ 1,339 $ 192 $ 176