UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Operating activities: |
|
|
| Net income (loss) attributable to the Corporation |
$ (11,060)
|
$ 14,495
|
| Net income attributable to noncontrolling interest |
2,047
|
3,006
|
| Net income (loss) |
(9,013)
|
17,501
|
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
6,400
|
8,638
|
| Amortization of loan issuance costs, debt discount and debt premium |
10,523
|
770
|
| Payment interest in kind |
4,469
|
0
|
| Gain on disposition of property and equipment |
(83)
|
(250)
|
| Share-based compensation |
1,265
|
343
|
| Provision for doubtful accounts |
0
|
653
|
| Unrealized loss (gain) on foreign currency transactions |
135
|
(2,715)
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
17,288
|
(53,975)
|
| Prepaid expenses |
(559)
|
(2,393)
|
| Deferred costs on contracts |
8,208
|
4,265
|
| Accounts payable |
(4,424)
|
9,966
|
| Accrued liabilities |
(2,233)
|
4,427
|
| Income and other taxes payable |
(6,863)
|
8,225
|
| Deferred revenue |
(7,975)
|
(198)
|
| Other, net |
(14)
|
1
|
| Net cash provided by (used in) operating activities |
17,124
|
(4,742)
|
| Investing activities: |
|
|
| Purchase of property and equipment |
(2,218)
|
(656)
|
| Proceeds from sale of property and equipment |
1,962
|
475
|
| Net cash used in investing activities |
(256)
|
(181)
|
| Financing activities: |
|
|
| Borrowings under senior loan facility |
0
|
5,600
|
| Payment of loan facility fee and loan issuance costs |
0
|
(960)
|
| Revolving credit facility borrowings |
30,845
|
35,440
|
| Revolving credit facility repayments |
(33,822)
|
(28,693)
|
| Repayments of capital lease obligations |
(55)
|
(54)
|
| Distribution to noncontrolling interest |
(291)
|
(549)
|
| Net cash provided by (used in) financing activities |
(3,323)
|
10,784
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
(189)
|
(329)
|
| Net change in cash, cash equivalents, and restricted cash |
13,356
|
5,532
|
| Cash, cash equivalents and restricted cash at the beginning of period |
11,996
|
11,818
|
| Cash, cash equivalents and restricted cash at the end of period |
25,352
|
17,350
|
| Supplemental disclosures of cash flow information: |
|
|
| Interest paid |
1,946
|
7,243
|
| Income taxes paid, net |
4,006
|
249
|
| Supplemental disclosures of cash flow information -- non-cash investing and financing activities: |
|
|
| Capital assets acquired included in accounts payable |
0
|
16
|
| Grantee election to fund payroll taxes out of restricted stock grant |
$ 0
|
$ 4
|