Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.5.0.2
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income (loss) $ (8,460) $ 10,866
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 25,457 23,000
Share-based compensation 2,261 1,601
Bad debt expense, net 123 (149)
Gains on asset dispositions, net (4,280) (3,146)
Debt discount amortization 79 129
Amortization of deferred financing costs 439 516
Derivative losses, net 0 22
Foreign currency losses (gains), net (912) 2,725
Cash settlements on derivative transactions, net 0 (186)
Gain on debt extinguishment, net (518) (264)
Gain on sale of FBO 0 (12,946)
Deferred income tax benefit (2,492) (1,235)
Equity losses (earnings), net of tax (625) 343
Changes in operating assets and liabilities:    
Decrease (increase) in receivables 11,833 (7,234)
Decrease (increase) in prepaid expenses and other assets (993) 891
Increase in accounts payable, accrued expenses and other liabilities 6,649 5,794
Net cash provided by operating activities 28,561 20,727
Cash flows from investing activities:    
Purchases of property and equipment (5,106) (39,663)
Proceeds from disposition of property and equipment 5,910 8,384
Cash settlements on forward contracts, net 0 (1,103)
Return of helicopter deposits 544 0
Business acquisitions, net of cash acquired 0 3,165
Proceeds from sale of FBO 0 14,252
Principal payments on notes due from equity investees 357 340
Principal payments on third party notes receivable 136 25
Escrow deposits, net 0 500
Escrow deposits on like-kind exchanges, net 0 (6,174)
Net cash provided by (used in) investing activities 1,841 (27,604)
Cash flows from financing activities:    
Proceeds from Revolving Credit Facility 7,000 25,000
Payments on long-term debt (9,093) (31,320)
Extinguishment of long-term debt (4,331) (9,297)
Proceeds from share award plans 477 612
Purchase of treasury shares (161) 0
Net cash used in financing activities (6,108) (15,005)
Effects of exchange rate changes on cash and cash equivalents 496 (1,983)
Net increase (decrease) in cash and cash equivalents 24,790 (23,865)
Cash and cash equivalents, beginning of period 14,370 [1] 40,867
Cash and cash equivalents, end of period 39,160 17,002
Supplemental cash flow information:    
Cash paid for interest 7,894 9,548
Cash paid for income taxes 5 (20)
Supplemental disclosure of non-cash financing activities:    
Notes payable contributed to subsidiary $ 6,349 $ 0
[1] Adjusted for the adoption of Accounting Standards Update (“ASU”) 2015-03 whereby $2,740 of debt issuance costs previously included in other assets is now included in long-term debt.