|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Cash flows from operating activities: |
|
|
|
| Net (loss) income |
$ (232,291) |
$ 2,527 |
$ (23,006) |
| Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: |
|
|
|
| Loss (income) from discontinued operations, net of income taxes |
98,251 |
(9,124) |
22,898 |
| Depreciation |
78,812 |
40,130 |
21,413 |
| Amortization of intangible assets |
20,424 |
7,511 |
3,868 |
| Amortization of deferred financing costs |
4,492 |
1,762 |
|
| Amortization of original issue discounts and premiums, net |
142 |
108 |
|
| Stock-based compensation |
3,708 |
3,610 |
2,401 |
| Loss on disposal of property, plant and equipment |
708 |
1,672 |
|
| Impairment of property, plant and equipment and intangible assets |
111,900 |
6,030 |
|
| Bad debt expense |
3,275 |
6,517 |
2,206 |
| Change in fair value of contingent consideration |
23 |
(1,004) |
(5,777) |
| Loss on extinguishment of debt |
|
2,638 |
|
| Deferred income taxes |
(68,599) |
(56,678) |
(4,277) |
| Write-down of cost method investments |
4,300 |
|
|
| Other, net |
871 |
839 |
100 |
| Changes in operating assets and liabilities, net of business acquisitions and purchase price adjustments: |
|
|
|
| Accounts receivable |
15,492 |
(2,101) |
(31,205) |
| Inventories |
444 |
432 |
243 |
| Prepaid expenses and other receivables |
(2,864) |
(1,096) |
(4,306) |
| Accounts payable and accrued liabilities |
27,331 |
22,938 |
5,584 |
| Other assets and liabilities, net |
249 |
(1,633) |
579 |
| Net cash provided by (used in) operating activities from continuing operations |
66,668 |
25,078 |
(9,279) |
| Net cash provided by (used in) operating activities from discontinued operations |
3,589 |
5,593 |
(4,683) |
| Net cash provided by (used in) operating activities |
70,257 |
30,671 |
(13,962) |
| Cash flows from investing activities: |
|
|
|
| Cash paid for acquisitions, net of cash acquired |
(10,570) |
(357,346) |
(88,334) |
| Proceeds from the sale of property, plant and equipment |
2,308 |
7,235 |
|
| Purchases of property, plant and equipment |
(46,593) |
(43,516) |
(150,921) |
| Proceeds from the sale of available for sale securities |
|
5,169 |
120,062 |
| Purchases of available-for-sale securities |
|
|
(34,947) |
| Proceeds from acquisition-related working capital adjustment |
2,067 |
|
|
| Other investing activities |
|
(82) |
(16) |
| Proceeds from certificates of deposit |
|
|
11,830 |
| Net cash used in investing activities from continuing operations |
(52,788) |
(388,540) |
(142,326) |
| Net cash used in investing activities from discontinued operations |
(4,195) |
(4,158) |
(5,777) |
| Net cash used in investing activities |
(56,983) |
(392,698) |
(148,103) |
| Cash flows from financing activities |
|
|
|
| Proceeds from revolving credit facility |
98,501 |
193,490 |
72,799 |
| Payments on revolving credit facility |
(109,501) |
(186,674) |
|
| Proceeds from other debt |
|
398,980 |
109,885 |
| Payments on other debt |
|
(150,367) |
(73,914) |
| Proceeds from equity offering |
|
74,448 |
|
| Payments for deferred financing costs |
(855) |
(26,170) |
(2,764) |
| Payments on notes payable and capital leases |
(5,416) |
(4,605) |
|
| Payments of contingent consideration and other financing activities |
(2,602) |
(1,058) |
1,543 |
| Cash paid to purchase treasury stock |
|
|
(4,414) |
| Cash proceeds from exercise of warrants |
|
|
47,912 |
| Net cash (used in) provided by financing activities of continuing operations |
(19,873) |
298,044 |
151,047 |
| Net cash used in financing activities of discontinued operations |
(400) |
|
|
| Net cash (used in) provided by financing activities |
(20,273) |
298,044 |
151,047 |
| Net decrease in cash and cash equivalents |
(6,999) |
(63,983) |
(11,018) |
| Cash and cash equivalents at beginning of year |
16,211 |
80,194 |
91,212 |
| Cash and cash equivalents at end of year |
9,212 |
16,211 |
80,194 |
| Less: cash and cash equivalents of discontinued operations at year-end |
429 |
1,435 |
|
| Cash and cash equivalents of continuing operations at end of year |
8,783 |
14,776 |
80,194 |
| Supplemental disclosure of cash flow information: |
|
|
|
| Cash paid for interest |
(48,175) |
(13,605) |
(2,784) |
| Cash paid for taxes, net |
(554) |
(1,759) |
(162) |
| Supplemental schedule of non-cash investing and financing activities: |
|
|
|
| Common stock issued for legal settlements |
1,621 |
|
|
| Purchases of property, plant and equipment under capital leases |
5,774 |
20,771 |
|
| Property, plant and equipment purchases in accounts payable |
7,863 |
4,238 |
7,890 |
| Restricted cash payable to former sole owner of Power Fuels |
110 |
3,536 |
|
|
Power Fuels, TFI and Other Acquisitions
|
|
|
|
| Supplemental schedule of non-cash investing and financing activities: |
|
|
|
| Common stock issued |
24,286 |
417,733 |
16,925 |
|
Contingent consideration
|
|
|
|
| Supplemental schedule of non-cash investing and financing activities: |
|
|
|
| Common stock issued |
$ 47 |
$ 7,770 |
|