CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Cash flows from operating activities: |
|
|
|
| Net income (loss) |
$ (86,632)
|
$ (10,231)
|
$ 9,866
|
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
|
| Depreciation and amortization |
42,314
|
34,903
|
33,328
|
| Impairment of goodwill |
49,823
|
21,272
|
0
|
| Impairment of other assets |
15,236
|
0
|
0
|
| Deferred income taxes |
(2,943)
|
(7,790)
|
5,214
|
| Amortization of debt issuance costs |
2,660
|
2,433
|
2,067
|
| Non-cash interest expense |
886
|
324
|
1,877
|
| Stock-based compensation |
294
|
861
|
792
|
| Other non-cash (income) expense, net |
3,855
|
(2,535)
|
3,515
|
| Changes in operating assets and liabilities: |
|
|
|
| Accounts receivable |
3,003
|
19,719
|
(20,991)
|
| Prepaid expenses and other current assets |
4,003
|
(5,110)
|
1,342
|
| Aircraft support parts, net |
3,384
|
(17,240)
|
(32,001)
|
| Aircraft held for sale |
2,400
|
0
|
0
|
| Other assets |
(278)
|
5,602
|
(3,131)
|
| Accounts payable |
(5,707)
|
(8,856)
|
(19,502)
|
| Accrued expenses and other current liabilities |
1,151
|
(20,023)
|
(6,654)
|
| Other liabilities |
(12,281)
|
655
|
(514)
|
| Net cash provided by (used in) operating activities |
21,168
|
13,984
|
(24,792)
|
| Cash flows from investing activities: |
|
|
|
| Acquisition of businesses, net of cash acquired |
0
|
0
|
(226,868)
|
| Purchases of aircraft and property, plant and equipment |
(26,126)
|
(56,807)
|
(56,104)
|
| Proceeds from sale-leaseback transactions |
5,078
|
24,660
|
0
|
| Restricted cash |
104
|
2,222
|
958
|
| Purchase of intangible assets |
0
|
0
|
(2,205)
|
| (Increase) decrease in other assets |
0
|
(126)
|
1,625
|
| Dividends paid to non-controlling interest |
0
|
(69)
|
(341)
|
| Net cash used in investing activities |
(20,944)
|
(30,120)
|
(282,935)
|
| Cash flows from financing activities: |
|
|
|
| Proceeds from shareholders, net |
0
|
414
|
0
|
| Credit facility payments |
(180,231)
|
(206,686)
|
(250,215)
|
| Credit facility borrowings |
188,890
|
227,939
|
246,377
|
| Long-term debt issuances |
0
|
0
|
400,000
|
| Long-term debt principal payments, including capital lease payments |
(6,895)
|
0
|
(72,572)
|
| Other long-term (payments) borrowings |
(156)
|
409
|
0
|
| Debt issuance costs |
(224)
|
(371)
|
(14,986)
|
| Shares withheld for payment of taxes |
(53)
|
(211)
|
(716)
|
| Net cash provided by (used in) financing activities |
1,331
|
21,494
|
307,888
|
| Effect of foreign currency exchange rates on cash and cash equivalents |
(4,523)
|
(2,142)
|
252
|
| Net change in cash and cash equivalents |
(2,968)
|
3,216
|
413
|
| Cash and cash equivalents at beginning of year |
5,097
|
1,881
|
1,468
|
| Cash and cash equivalents at end of year |
2,129
|
5,097
|
1,881
|
| Supplemental disclosure of cash flow information: |
|
|
|
| Cash paid for interest |
35,982
|
35,693
|
27,818
|
| Cash paid for income taxes |
1,923
|
3,925
|
1,477
|
| Supplemental disclosure of non-cash investing and financing activities: |
|
|
|
| Note payable incurred for purchase of aircraft support parts |
$ 10,000
|
$ 0
|
$ 0
|