CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Reconciliation of net income to net cash provided by operating activities: |
|
|
| Net loss |
$ (50,066)
|
$ (6,518)
|
| Items not affecting cash: |
|
|
| Deferred income taxes |
0
|
(5,136)
|
| Depreciation, depletion and accretion |
32,965
|
61,028
|
| Amortization of deferred financing costs |
2,228
|
273
|
| Stock-based compensation |
2,552
|
3,780
|
| Lower-of-cost-or-market inventory adjustments |
17,129
|
10,063
|
| Allowance for parts inventory obsolescence |
514
|
0
|
| Other |
470
|
1,320
|
| Changes in operating assets and liabilities: |
|
|
| Trade accounts receivable, net |
(7,386)
|
7,203
|
| Other receivables, net |
(1,195)
|
385
|
| Refundable income taxes |
92
|
(84)
|
| Inventory, net |
(16,200)
|
(34,385)
|
| Prepaid expenses and other current assets |
11,974
|
(1,117)
|
| Accounts payable, accrued liabilities, and accrued employee compensation and benefits |
(5,157)
|
5,642
|
| Other liabilities |
(1,474)
|
1,138
|
| Net cash (used in) provided by operating activities |
(13,554)
|
43,592
|
| Cash Flows from Investing Activities: |
|
|
| Additions to property, plant, equipment, and mineral properties |
(14,256)
|
(36,982)
|
| Purchases of investments |
(10,325)
|
(78,571)
|
| Proceeds from sale of investments |
55,822
|
30,088
|
| Net cash provided by (used in) investing activities |
31,241
|
(85,465)
|
| Cash Flows from Financing Activities: |
|
|
| Debt issuance costs |
(3,843)
|
(356)
|
| Employee tax withholding paid for restricted stock upon vesting |
(172)
|
(1,038)
|
| Net cash used in financing activities |
(4,015)
|
(1,394)
|
| Net Change in Cash and Cash Equivalents |
13,672
|
(43,267)
|
| Cash and Cash Equivalents, beginning of period |
9,307
|
67,589
|
| Cash and Cash Equivalents, end of period |
22,979
|
24,322
|
| Net cash paid (refunded) during the period for: |
|
|
| Interest |
3,247
|
3,281
|
| Income taxes |
(88)
|
25
|
| Accrued purchases for property, plant, equipment, and mineral properties |
$ 801
|
$ 710
|