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 Q3 YTD 9/30/2018 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 Q3 YTD 9/30/2018 USD

Cash flows from operating activities

Net income 55,015 124,148 96,294 147,109 87,022

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

Depreciation and amortization 100,798 107,206 105,977 115,146 98,371
Amortization of premium from senior unsecured bonds (308) (306) (513) 0 NA
Accretion of asset retirement obligation 829 1,198 1,778 1,874 1,826
Stock-based compensation 5,571 3,955 5,157 8,760 7,382
Amortization of deferred lease income (2,685) (2,685) (2,685) (2,685) (2,014)
Income attributable to sale of tax benefits, net of interest expense (13,823) (17,467) (6,962) (11,956) (9,806)
Equity in losses (earnings) of investees 3,213 5,508 7,735 1,957 (1,774)
Mark-to-market of derivative instruments (6,960) 4,129 319 (1,473) 1,202
Loss on disposal of property, plant and equipment NA NA NA NA 5,365
Write-off of unsuccessful exploration activities 15,439 1,579 3,017 1,796 119
Loss (gain) on severance pay fund asset 1,492 (119) (304) (1,746) 630
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) (6,612)
Liability for unrecognized tax benefits 2,561 3,107 (4,174) 3,270 1,249
Deferred lease revenues (251) 224 (853) (356) (303)
Gain from insurance recoveries NA NA NA NA (7,150)
Other (181) 484 0 737 0
Changes in operating assets and liabilities, net of amounts acquired
Receivables 47,114 (3,806) (33,280) (24,040) (9,704)
Costs and estimated earnings in excess of billings on uncompleted contracts (6,576) 2,673 (27,078) 11,253 (6,866)
Inventories 5,359 (1,144) 6,297 (1,070) (1,728)
Prepaid expenses and other (1,337) (2,579) (12,540) 208 (4,183)
Deposits and other 584 (648) (1,009) (2,570) 10
Accounts payable and accrued expenses (9,638) (939) (1,375) 51,641 (50,056)
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) 1,519
Liabilities for severance pay (3,442) (1,076) (786) 2,541 (1,238)
Other long-term liabilities (903) (2,561) 3,310 (2,285) (105)
Due from/to Parent (955) (513) 0 0 NA
Net cash provided by operating activities 213,235 190,025 159,285 245,575 103,156

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) (200,657)
Cash grant received from the U.S. Treasury under Section 1603 of the ARRA 27,427 NA NA NA NA
Cash received from insurance recoveries related to destroyed equipment NA NA NA NA 7,150
Investment in unconsolidated companies (631) 0 (3,569) (46,318) (3,800)
Buyout of Class B membership in ORTP NA 0 0 (2,400) 0
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) (95,093)
Cash paid for achievement of production threshold in Guadeloupe NA 0 0 (8,032) NA
Intangible assets acquired 0 (500) 0 (868) 0
Decrease (increase) in severance pay fund asset, net of payments made to retired employees 2,128 2,843 1,862 526 850
Net cash used in investing activities (129,162) (90,971) (158,531) (368,121) (291,550)

Cash flows from financing activities

Proceeds from sale of membership interests to noncontrolling interest, net of transaction costs 0 156,635 44,102 0 3,174
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 0
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 Tungsten, net of transaction costs 0 0 59,897 0 32,403
Purchase of OFC Senior Secured Notes (12,860) (30,638) (6,815) (14,270) 0
Proceeds from revolving credit lines with banks 2,830,683 598,800 309,400 1,097,500 2,819,800
Repayment of revolving credit lines with banks (2,922,400) (619,100) (309,400) (1,046,000) (2,661,800)
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) (41,858)
Cash paid to noncontrolling interest (11,320) (19,068) (64,065) (21,313) (9,555)
Cash paid for interest rate cap (1,505) NA NA NA NA
Payments of capital leases 0 0 (1,178) (1,871) (1,706)
Deferred debt issuance costs (4,785) (5,316) (6,402) (5,290) (3,002)
Cash dividends paid (9,555) (12,716) (25,682) (20,511) (21,766)
Net cash provided by (used in) financing activities (101,197) 46,635 43,541 (59,850) 219,824
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 31,430
Restricted cash and cash equivalents acquired in a business combination NA NA NA NA 26,993
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 155,066

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 (10,390)
Accrued liabilities related to financing activities 658 1,665 6,291 0 5,864
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.