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
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income (loss) $ (9,262) $ 11,519
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 37,976 35,186
Share-based compensation 3,479 2,674
Bad debt expense, net 324 60
Gains on asset dispositions, net (4,034) (4,959)
Debt discount amortization 133 191
Amortization of deferred financing costs 684 773
Derivative losses, net 0 14
Foreign currency losses (gains), net (842) 2,693
Cash settlements on derivative transactions, net 0 (274)
Gain on debt extinguishment, net (518) (248)
Gain on sale of FBO 0 (12,946)
Deferred income tax benefit (2,822) (5,279)
Equity losses (earnings), net of tax (1,062) 719
Changes in operating assets and liabilities:    
Decrease (increase) in receivables 11,174 (7,500)
Decrease in prepaid expenses and other assets 2,228 2,558
Increase in accounts payable, accrued expenses and other liabilities 9,025 10,662
Net cash provided by operating activities 46,483 35,843
Cash flows from investing activities:    
Purchases of property and equipment (10,712) (47,260)
Proceeds from disposition of property and equipment 6,138 20,631
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 539 514
Principal payments on third party notes receivable 212 25
Escrow deposits, net 0 340
Escrow deposits on like-kind exchanges, net 0 (1,857)
Net cash used in investing activities (3,279) (18,303)
Cash flows from financing activities:    
Proceeds from Revolving Credit Facility 7,000 35,000
Payments on long-term debt (29,538) (52,149)
Extinguishment of long-term debt (4,331) (24,335)
Proceeds from share award plans 836 1,096
Tax expense on vested restricted stock 0 114
Purchase of treasury shares (161) (2,069)
Net cash used in financing activities (26,194) (42,571)
Effects of exchange rate changes on cash and cash equivalents 764 (2,028)
Net increase (decrease) in cash and cash equivalents 17,774 (27,059)
Cash and cash equivalents, beginning of period 14,370 [1] 40,867
Cash and cash equivalents, end of period 32,144 13,808
Supplemental cash flow information:    
Cash paid for interest 8,847 10,983
Cash paid (refunded) for income taxes (5,974) 5,990
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 on January 1, 2016 whereby $2,740 of debt issuance costs previously included in other assets are now included in long-term debt.