Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.3.0.814
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 11,519 $ 13,881
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 35,186 34,458
Amortization of deferred financing costs 773 674
Debt discount amortization 191 186
Share-based compensation 2,674 5,126
Note receivable impairment 0 2,457
Bad debt expense, net 60 195
Gains on asset dispositions, net (4,959) (6,072)
Gain on debt extinguishment, net (248) 0
Gain on sale of FBO (12,946) 0
Gain on sale of interest in equity investees 0 (1,518)
Derivative losses, net 14 1,744
Cash settlements on derivative transactions, net (274) (755)
Foreign currency losses, net 2,693 135
Deferred income tax expense (benefit) (5,279) 6,938
Equity losses (earnings), net of tax 719 (803)
Changes in operating assets and liabilities:    
Increase in receivables (7,500) (9,712)
Decrease in prepaid expenses and other assets 2,558 1,142
Increase in accounts payable, accrued expenses and other liabilities 10,662 13,890
Net cash provided by operating activities 35,843 61,966
Cash flows from investing activities:    
Purchases of property and equipment (47,260) (63,966)
Proceeds from disposition of property and equipment 20,631 7,020
Cash settlements on forward contracts, net (1,103) 0
Business acquisitions, net of cash acquired (3,165) 0
Investments in and advances to equity investees 0 (125)
Proceeds from sale of interest in equity investees 0 6,381
Proceeds from sale of FBO 14,252 0
Principal payments on notes due from equity investees 514 474
Principal payments on third party notes receivable 25 424
Escrow deposits, net (340) 0
Escrow deposits on like-kind exchanges, net (1,857) 0
Net cash used in investing activities (18,303) (49,792)
Cash flows from financing activities:    
Payments on long-term debt (52,149) (2,187)
Proceeds from Revolving Credit Facility 35,000 0
Revolving Credit Facility issuance costs 0 (2,446)
Extinguishment of long-term debt (24,335) 0
Proceeds from share award plans 1,096 1,458
Purchase of treasury shares (2,069) 0
Tax expense on vested restricted stock (114) 0
Net cash used in financing activities (42,571) (3,175)
Effects of exchange rate changes on cash and cash equivalents (2,028) 23
Net increase (decrease) in cash and cash equivalents (27,059) 9,022
Cash and cash equivalents, beginning of period 40,867 31,335
Cash and cash equivalents, end of period 13,808 40,357
Supplemental cash flow information:    
Cash paid for interest 10,983 9,434
Cash paid for income taxes $ 5,990 $ 734