| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net (losses)/earnings | ||||||||||
-28,252 | -44,948 | 36,433 | 15,854 | -1,735 | -31,496 | -6,888 | -87,596 | -62,580 | -68,737 | -26,354 |
Less: Net (losses)/earnings from discontinued operations, net of tax | ||||||||||
-10 | 122 | 1,032 | -1,534 | -3,782 | -5,318 | 4,538 | -67,705 | -34,299 | -49,778 | -32,754 |
(Losses)/earnings from continuing operations | ||||||||||
-28,242 | -45,070 | 35,401 | 17,388 | 2,047 | -26,178 | -11,426 | -19,891 | -28,281 | -18,959 | 6,400 |
Adjustments to reconcile net (losses)/earnings to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
61,278 | 62,852 | 52,396 | 50,513 | 52,004 | 48,740 | 43,753 | 43,633 | 42,630 | 39,022 | 33,931 |
Write-off of inventory | ||||||||||
- | - | - | - | - | - | - | 0 | - | - | - |
Impairment of goodwill | ||||||||||
4,719 | 5,500 | 0 | 9,796 | 0 | 0 | 2,055 | 11,907 | 5,895 | - | - |
Impairment of property, plant and equipment and other assets | ||||||||||
4,931 | 8,216 | 1,007 | 0 | 1,211 | 36,430 | 3,837 | 8,153 | 7,456 | 6,500 | 5,551 |
Amortization of finance costs | ||||||||||
- | - | - | - | - | - | - | 6,893 | 4,785 | 3,430 | 3,103 |
(Gain)/loss on disposal of property, plant and equipment and equity method investments | ||||||||||
750 | -153 | 938 | 20,275 | 4,128 | 0 | 1,514 | 13,372 | 0 | 1,385 | -382 |
Gain on extinguishment of debt | ||||||||||
0 | 0 | 1,200 | 0 | -14,506 | 3,517 | 0 | 0 | - | - | - |
Insurance gain recorded in other operating income | ||||||||||
15,710 | 0 | 0 | - | - | - | - | - | - | - | - |
(Earnings)/losses from unconsolidated companies, net of tax | ||||||||||
9,355 | -10,213 | 11,013 | 9,075 | 9,484 | 6,442 | 2,124 | - | - | - | - |
Amortization of debt issuance costs and discount on secured term loan | ||||||||||
3,003 | 3,682 | 3,044 | 2,903 | 3,921 | 7,196 | 5,375 | - | - | - | - |
Undistributed earnings of unconsolidated companies | ||||||||||
- | - | - | - | - | - | - | 6,627 | 4,486 | 3,119 | 11,690 |
Tax on earnings of unconsolidated companies | ||||||||||
- | - | - | - | - | - | - | 2,270 | 2,228 | - | - |
Share-based compensation | ||||||||||
5,364 | 5,809 | 6,272 | 6,707 | 7,928 | 10,388 | 6,761 | 6,752 | 5,965 | 4,121 | 2,800 |
Excess share-based compensation tax benefit | ||||||||||
- | - | - | - | - | 267 | 0 | 0 | - | - | - |
Change in provisions for uncertain tax positions | ||||||||||
46 | 160 | -3,350 | 279 | 496 | -2,526 | 160 | -3,004 | 1,153 | -4,202 | -11,756 |
(Benefit from)/provision for deferred income tax | ||||||||||
-6,219 | -13,641 | -305 | -124 | -11,246 | -2,078 | 4,204 | -11,328 | 13,840 | 7,210 | -5,184 |
Other non-cash movements | ||||||||||
3,671 | 1,596 | 567 | -1,076 | 3,950 | 1,140 | 0 | - | - | -2,651 | -136 |
Effect of exchange rates on net (losses)/earnings | ||||||||||
1,121 | 2,424 | -12,617 | 896 | -4,518 | -3,839 | -1,104 | -6,213 | -3,167 | - | - |
Change in assets and liabilities, net of effects from acquisitions: | ||||||||||
Accounts receivable | ||||||||||
5,420 | 633 | -1,961 | 536 | -1,593 | -414 | -8,546 | -3,667 | -7,234 | - | - |
Increase in receivables, prepaid expenses and other | ||||||||||
- | - | - | - | - | - | - | - | - | 6,498 | 8,857 |
Due from unconsolidated companies | ||||||||||
-2,292 | 419 | 788 | -1,167 | 2,784 | 2,414 | 3,232 | 3,519 | -2,018 | 1,476 | -20,343 |
Prepaid expense and other | ||||||||||
1,275 | 349 | -668 | 725 | 2,500 | 1,000 | -4,498 | -3,307 | 1,260 | - | - |
Inventories | ||||||||||
-724 | -2,539 | 504 | -1,962 | -2,251 | 1,742 | -611 | 2,600 | 1,204 | 129 | -51 |
Escrow and prepaid customer deposits | ||||||||||
- | - | - | 1,284 | 615 | -3,839 | 1,221 | -664 | 6,721 | - | - |
Accounts payable | ||||||||||
6,989 | -2,488 | 877 | -5,703 | 3,178 | -1,320 | -4,891 | 3,548 | 2,430 | - | - |
Accrued liabilities | ||||||||||
21,381 | 12,805 | 245 | 10,127 | -2,059 | -3,628 | -9,345 | 13,000 | -9,453 | - | - |
Deferred revenue | ||||||||||
8,500 | -489 | -1,434 | 5,877 | 227 | 3,629 | 4,401 | 1,286 | 1,589 | - | - |
Other liabilities | ||||||||||
707 | -5,633 | -14,121 | 0 | 0 | - | - | - | - | - | - |
Other, net | ||||||||||
-928 | -927 | -148 | 3,008 | -48 | -407 | 6,400 | -6,399 | -16,367 | - | - |
Other cash movements: | ||||||||||
Dividends from equity method investees | ||||||||||
4,290 | 4,440 | 4,449 | 3,649 | 3,725 | 7,841 | 2,524 | 2,428 | 1,759 | - | 3,840 |
Proceeds from insurance settlements | ||||||||||
16,405 | 1,462 | 0 | 0 | 887 | 0 | 0 | - | - | - | - |
Proceeds from swap termination | ||||||||||
359 | 0 | 0 | - | - | - | - | - | - | - | - |
Payment of key money | ||||||||||
- | - | - | - | 3,000 | 0 | 0 | - | - | - | - |
Payment of swap termination costs | ||||||||||
0 | 2,145 | 0 | 0 | 3,985 | 0 | 0 | - | - | - | - |
Decrease in real estate assets | ||||||||||
- | - | - | - | - | - | - | - | - | 36,305 | 57,289 |
Increase in payables, accrued liabilities, and deferred revenue | ||||||||||
- | - | - | - | - | - | - | - | - | 18,371 | 28,813 |
Net cash provided by operating activities from continuing operations | ||||||||||
79,737 | 51,911 | 60,765 | 69,458 | 53,653 | 65,073 | 45,468 | 46,025 | 74,219 | 9,232 | 10,302 |
Net cash (used in)/provided by operating activities from discontinued operations | ||||||||||
-10 | 87 | 38 | -1,534 | -2,317 | 1,907 | 144 | -3,451 | -17,071 | -17,006 | 14,841 |
Net cash provided by operating activities | ||||||||||
79,727 | 51,998 | 60,803 | 67,924 | 51,336 | 66,980 | 45,612 | 42,574 | 57,148 | -7,774 | 25,143 |
Cash flows from investing activities: | ||||||||||
Capital expenditure to acquire property, plant and equipment | ||||||||||
166,080 | 67,830 | 55,104 | 56,395 | 63,454 | 66,646 | 97,048 | 59,909 | 64,578 | 71,344 | 107,623 |
Acquisitions, net of cash acquired | ||||||||||
45,406 | 68,632 | 0 | 0 | - | - | 3,296 | 1,605 | 46,402 | 8,838 | 2,996 |
Capital expenditure to acquire intangible assets | ||||||||||
3,015 | 0 | 0 | 714 | 269 | 0 | 0 | - | - | - | - |
Investments in unconsolidated companies | ||||||||||
- | - | - | 4,061 | 4,082 | 5,532 | 4,858 | 1,541 | 4,413 | - | - |
Increase in restricted cash | ||||||||||
- | - | - | 0 | 526 | 4,705 | 7,523 | 5,805 | 6,177 | -7,477 | -9,079 |
Release of restricted cash | ||||||||||
- | - | - | 519 | 11,324 | 8,580 | 1,013 | 1,558 | 1,666 | -807 | - |
Change in deferred revenue for asset sale deposits | ||||||||||
- | - | - | -500 | -3,500 | 4,000 | 0 | - | - | - | - |
Proceeds from sale of business | ||||||||||
0 | 2,070 | 0 | 0 | - | - | - | - | - | - | - |
Deposits received for sale of assets | ||||||||||
- | - | - | - | - | - | - | 0 | - | - | - |
Government grants received | ||||||||||
- | - | - | - | - | 1,043 | 0 | 0 | - | - | - |
Proceeds from insurance settlements | ||||||||||
7,327 | 13,588 | 0 | 0 | 297 | 0 | 0 | - | - | - | - |
Proceeds from sale of property, plant and equipment and equity method investments | ||||||||||
0 | 0 | 2,746 | 43,742 | 37,842 | 291 | 0 | 42,036 | 0 | 5,900 | 158 |
Net cash used in investing activities from continuing operations | ||||||||||
-207,174 | -120,804 | -52,358 | -17,409 | -22,368 | -62,969 | -111,712 | -25,266 | -110,882 | -80,952 | -119,540 |
Net cash provided by investing activities from discontinued operations | ||||||||||
0 | 0 | 0 | 0 | 0 | 18,812 | 88,655 | 12,058 | 20,410 | 61,948 | -5,353 |
Net cash used in investing activities | ||||||||||
-207,174 | -120,804 | -52,358 | -17,409 | -22,368 | -44,157 | -23,057 | -13,208 | -90,472 | -19,004 | -124,893 |
Cash flows from financing activities: | ||||||||||
Proceeds from working capital facilities | ||||||||||
- | - | - | - | - | 133 | 0 | 0 | 1,065 | 6,253 | 72,120 |
Repayments of revolving credit facilities | ||||||||||
- | - | - | - | 133 | 0 | 0 | 1,072 | 6,149 | 47,518 | 15,695 |
Repurchase of shares | ||||||||||
0 | 0 | 1,992 | 37,565 | 0 | 0 | - | - | - | - | - |
Issuance of common shares | ||||||||||
- | - | - | - | - | - | - | - | 261,878 | 148,781 | 55,185 |
Issuance costs of common shares | ||||||||||
- | - | - | - | - | - | - | 157 | 13,826 | 7,880 | 2,671 |
Exercised stock options and vested share awards | ||||||||||
7 | 305 | 17 | 35 | 19 | 7 | 3 | 3 | 1 | 15 | 192 |
Excess share-based compensation tax benefit | ||||||||||
- | - | - | - | - | 267 | 0 | 0 | - | - | - |
Dividend to non-controlling interest | ||||||||||
16 | 0 | 15 | 20 | 0 | 0 | - | - | - | - | - |
Issuance of long-term debt | ||||||||||
105,082 | 104,739 | 26,000 | 0 | 572,046 | 135,388 | 105,008 | 125,209 | 386,265 | 42,244 | 5,738 |
Debt issuance costs | ||||||||||
1,175 | 9,639 | 465 | 856 | 17,798 | 4,305 | 2,613 | 4,036 | 10,101 | - | - |
Principal payments under long-term debt | ||||||||||
45,278 | 5,654 | 13,904 | 5,432 | 565,051 | 124,444 | 121,372 | 209,794 | 507,363 | 49,238 | 33,936 |
Payment of common share dividends | ||||||||||
- | - | - | - | - | - | - | - | - | - | 4,247 |
Net cash provided by financing activities from continuing operations | ||||||||||
58,620 | 89,751 | 9,641 | -43,838 | -10,917 | 7,046 | -18,974 | -89,847 | 111,770 | 92,657 | 76,686 |
Net cash provided by financing activities from discontinued operations | ||||||||||
0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -60,593 | 54 |
Net cash provided by financing activities | ||||||||||
58,620 | 89,751 | 9,641 | -43,838 | -10,917 | 7,046 | -18,974 | -89,847 | 111,770 | 32,064 | 76,740 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||
-3,364 | 7,120 | -992 | -6,196 | -6,486 | 302 | -303 | 898 | 50 | 1,799 | -2,031 |
Net (decrease)/increase in cash, cash equivalents and restricted cash | ||||||||||
-72,191 | 28,065 | 17,094 | 481 | 11,565 | 30,171 | 3,278 | -59,583 | 78,496 | 7,085 | -25,041 |