|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2014
|
Mar. 31, 2013
|
| Operating activities |
|
|
| Net loss |
$ (21,899) |
$ (18,784) |
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
| Depreciation and accretion |
21,177 |
22,566 |
| Amortization of financing costs |
1,395 |
2,230 |
| Unrealized loss on derivatives |
11,456 |
4,872 |
| Stock-based compensation |
533 |
0 |
| Deferred taxes |
(2,032) |
292 |
| Equity in losses in unconsolidated investments |
12,548 |
10,025 |
| Changes in operating assets and liabilities: |
|
|
| Trade receivables |
(6,357) |
(13,221) |
| Reimbursable interconnection receivable |
|
(416) |
| Prepaid expenses and other current assets |
4,027 |
865 |
| Other assets (non-current) |
(122) |
(115) |
| Accounts payable and other accrued liabilities |
(5,021) |
(815) |
| Related party receivable/payable |
(155) |
(198) |
| Accrued interest payable |
855 |
1,090 |
| Net cash provided by operating activities |
16,405 |
8,391 |
| Investing activities |
|
|
| Proceeds from sale of investments |
|
7,054 |
| Decrease in restricted cash |
300 |
778 |
| Increase in restricted cash |
(1) |
(3) |
| Capital expenditures |
314 |
(67,178) |
| Deferred development costs |
|
(528) |
| Distribution from unconsolidated investments |
|
10,463 |
| Contribution to unconsolidated investments |
(1,283) |
(6,524) |
| Reimbursable interconnection receivable |
1,418 |
(5,227) |
| Other assets (non-current) |
618 |
446 |
| Net cash provided by (used in) investing activities |
1,366 |
(60,719) |
| Financing activities |
|
|
| Proceeds from IPO, net of expenses |
(135) |
|
| Repurchase of shares for employee tax withholding |
(26) |
|
| Dividends paid |
(11,082) |
|
| Capital contributions - controlling interest |
|
21,454 |
| Capital distributions - controlling interest |
|
(23,465) |
| Capital distributions - noncontrolling interest |
|
(168) |
| Decrease in restricted cash |
4,668 |
|
| Increase in restricted cash |
(7,707) |
(5,252) |
| Payment for deferred financing costs |
(589) |
(45) |
| Proceeds from long-term debt |
|
78,047 |
| Repayment of long-term debt |
(5,830) |
(6,231) |
| Net cash (used in) provided by financing activities |
(20,701) |
64,340 |
| Effect of exchange rate changes on cash and cash equivalents |
(296) |
(742) |
| Net change in cash and cash equivalents |
(3,226) |
11,270 |
| Cash and cash equivalents at beginning of period |
103,569 |
17,574 |
| Cash and cash equivalents at end of period |
100,343 |
28,844 |
| Supplemental disclosure |
|
|
| Cash payments for interest and commitment fees |
12,597 |
13,379 |
| Schedule of non-cash activities |
|
|
| Change in fair value of interest rate swaps |
(9,471) |
7,205 |
| Change in fair value of contingent liabilities |
|
8,001 |
| Capitalized interest |
1,283 |
391 |
| Capitalized commitment fee |
|
28 |
| Change in property, plant and equipment |
(31,074) |
(84,118) |
| Transfer of capitalized assets to South Kent joint venture |
|
49,275 |
| Non-cash distribution to Pattern Development |
|
$ (3,283) |