Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Cash Flows

v3.2.0.727
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Statement of Cash Flows [Abstract]    
Net income $ 10,866 $ 9,570
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 23,000 22,712
Amortization of deferred financing costs 516 417
Debt discount amortization 129 123
Share-based compensation 1,601 2,304
Note receivable impairment 0 2,457
Bad debt expense (recovery) (149) 126
Gains on asset dispositions, net (3,146) (6,030)
Gain on debt extinguishment (264) 0
Gain on sale of FBO (12,946) 0
Derivative losses, net 22 41
Cash settlements on derivative transactions, net (186) (245)
Foreign currency losses, net 2,725 37
Deferred income tax expense (benefit) (1,235) 4,821
Equity losses (earnings), net of tax 343 (1,035)
Changes in operating assets and liabilities:    
Increase in receivables (7,234) (14,550)
Decrease (increase) in prepaid expenses and other assets 891 (717)
Increase in accounts payable, accrued expenses and other liabilities 5,794 11,252
Net cash provided by operating activities 20,727 31,283
Cash flows from investing activities:    
Purchases of property and equipment (39,663) (52,133)
Proceeds from disposition of property and equipment 8,384 6,978
Cash settlements on forward contracts, net (1,103) 0
Business acquisitions, net of cash acquired (3,165) 0
Proceeds from sale of FBO 14,252 0
Principal payments on notes due from equity investees 340 324
Principal payments on third party notes receivable 25 273
Escrow deposits, net (500) 0
Escrow deposits on like-kind exchanges, net (6,174) 0
Net cash used in investing activities (27,604) (44,558)
Cash flows from financing activities:    
Payments on long-term debt (31,320) (1,491)
Proceeds from Revolving Credit Facility 25,000 0
Revolving Credit Facility issuance costs 0 (2,393)
Extinguishment of long-term debt (9,297) 0
Proceeds from share award plans 612 836
Net cash used in financing activities (15,005) (3,048)
Effects of exchange rate changes on cash and cash equivalents (1,983) (72)
Net decrease in cash and cash equivalents (23,865) (16,395)
Cash and cash equivalents, beginning of period 40,867 31,335
Cash and cash equivalents, end of period 17,002 14,940
Supplemental cash flow information:    
Cash paid for interest 9,548 8,939
Cash paid (refunded) for income taxes $ (20) $ 681