As Reported Financials

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q1 YTD 3/31/2018 USD
Source Document Currency Code 2014 Y 12/31/2016 USD 2015 Y 12/31/2017 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD 2018 Q1 YTD 3/31/2018 USD

Cash flows from operating activities

Net income 55,015 124,148 96,294 147,109 74,256

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation and amortization 100,798 107,206 105,977 115,146 30,553
Amortization of premium from senior unsecured bonds (308) (306) (513) 0 NA
Accretion of asset retirement obligation 829 1,198 1,778 1,874 529
Stock-based compensation 5,571 3,955 5,157 8,760 1,707
Amortization of deferred lease income (2,685) (2,685) (2,685) (2,685) (671)
Income attributable to sale of tax benefits, net of interest expense (13,823) (17,467) (6,962) (11,956) (6,295)
Equity in losses (earnings) of investees 3,213 5,508 7,735 1,957 (1,210)
Mark-to-market of derivative instruments (6,960) 4,129 319 (1,473) 962
Write-off of unsuccessful exploration activities 15,439 1,579 3,017 1,796 123
Gain on severance pay fund asset 1,492 (119) (304) (1,746) 129
Gain on sale of a subsidiary (7,628) NA NA NA NA
Deferred income tax provision and deferred charges 13,135 (39,962) 23,222 (41,147) (29,467)
Liability for unrecognized tax benefits 2,561 3,107 (4,174) 3,270 184
Deferred lease revenues (251) 224 (853) (356) (104)
Other (181) 484 0 737 NA
Changes in operating assets and liabilities, net of amounts acquired
Receivables 47,114 (3,806) (33,280) (24,040) 9,777
Costs and estimated earnings in excess of billings on uncompleted contracts (6,576) 2,673 (27,078) 11,253 (189)
Inventories 5,359 (1,144) 6,297 (1,070) (503)
Prepaid expenses and other (1,337) (2,579) (12,540) 208 (2,005)
Deposits and other 584 (648) (1,009) (2,570) 62
Accounts payable and accrued expenses (9,638) (939) (1,375) 51,641 (49,027)
Due from/to related entities, net (9) 451 0 0 NA
Billings in excess of costs and estimated earnings on uncompleted contracts 16,821 9,168 (2,262) (11,389) (9,783)
Liabilities for severance pay (3,442) (1,076) (786) 2,541 (267)
Other long-term liabilities (903) (2,561) 3,310 (2,285) 1,008
Due from/to Parent (955) (513) 0 0 NA
Net cash provided by operating activities 213,235 190,025 159,285 245,575 19,769

Cash flows from investing activities

Cash acquired in organizational restructuring and share exchange with parent 0 15,391 0 0 NA
Net change in restricted cash, cash equivalents and marketable securities (42,183) 43,745 15,241 (14,563) NA
Cash received from sale of a subsidiary 35,250 NA NA NA NA
Capital expenditures (151,153) (152,450) (151,930) (259,234) (66,962)
Cash grant received from the U.S. Treasury under Section 1603 of the ARRA 27,427 NA NA NA NA
Investment in unconsolidated companies (631) 0 (3,569) (46,318) (1,275)
Buyout of Class B membership in ORTP NA 0 0 (2,400) NA
Buyout of Class B membership in OPC NA 0 0 (1,932) NA
Cash paid for acquisition of controlling interest in a subsidiary, net of cash acquired 0 0 (20,135) (35,300) 0
Cash paid for achievement of production threshold in Guadeloupe NA 0 0 (8,032) NA
Intangible assets acquired 0 (500) 0 (868) NA
Decrease (increase) in severance pay fund asset, net of payments made to retired employees 2,128 2,843 1,862 526 203
Net cash used in investing activities (129,162) (90,971) (158,531) (368,121) (68,034)

Cash flows from financing activities

Proceeds from sale of membership interests to noncontrolling interest, net of transaction costs 0 156,635 44,102 0 NA
Proceeds from long-term loans, net of transaction costs 140,000 42,000 142,500 0 100,000
Proceeds from exercise of options by employees 981 6,085 7,249 16,111 NA
Proceeds from issuance of senior unsecured notes, net of transaction costs 0 0 203,483 0 NA
Purchase of Senior unsecured notes 0 0 (249,468) 0 NA
Proceeds from the sale of limited liability company interest in Opal Geo LLC, net of transaction costs 0 0 59,897 0 NA
Purchase of OFC Senior Secured Notes (12,860) (30,638) (6,815) (14,270) NA
Proceeds from revolving credit lines with banks 2,830,683 598,800 309,400 1,097,500 860,800
Repayment of revolving credit lines with banks (2,922,400) (619,100) (309,400) (1,046,000) (873,800)
Cash received from noncontrolling interest 2,234 1,654 1,972 2,017 4,134
Payment for acquisition of noncontrolling interest in Crump (1,490) NA NA NA NA
Repayments of long-term debt (111,180) (71,701) (62,052) (66,223) (16,687)
Cash paid to noncontrolling interest (11,320) (19,068) (64,065) (21,313) (4,674)
Cash paid for interest rate cap (1,505) NA NA NA NA
Payments of capital leases 0 0 (1,178) (1,871) (436)
Deferred debt issuance costs (4,785) (5,316) (6,402) (5,290) (1,020)
Cash dividends paid (9,555) (12,716) (25,682) (20,511) (11,640)
Net cash provided by financing activities (101,197) 46,635 43,541 (59,850) 56,677
Net change in cash and cash equivalents (17,124) 145,689 44,295 (182,396) NA
Cash and cash equivalents at beginning of period 57,354 40,230 185,919 230,214 NA
Cash and cash equivalents at end of period 40,230 185,919 230,214 47,818 NA

Supplemental disclosure of cash flow information

Cash paid during the year for

Interest, net of interest capitalized 62,376 55,492 55,366 40,484 NA
Income taxes, net 5,787 10,419 18,490 21,878 NA
Net change in cash and cash equivalents and restricted cash and cash equivalents NA NA NA NA 8,412
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period NA NA NA NA 96,643
Cash and cash equivalents and restricted cash and cash equivalents at end of period NA NA NA NA 105,055

Supplemental non-cash investing and financing activities

Increase (decrease) in accounts payable related to purchases of property, plant and equipment 3,853 3,810 (2,219) 4,484 (1,673)
Accrued liabilities related to financing activities 658 1,665 6,291 0 NA
Increase (decrease) in asset retirement cost and asset retirement obligation (366) 516 714 1,888 NA
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.