| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|
Net loss | |||||||||
-42,544 | -198,686 | -2,808,086 | 58,020 | -198,028 | -288,593 | -47,286 | 190,450 | -12,031 | -344,457 |
Depreciation and amortization | |||||||||
14,966 | 3,466 | 227,652 | 449,792 | 357,372 | 335,458 | 274,281 | 192,891 | 196,309 | 157,979 |
Commitments fees on undrawn line of credit | |||||||||
- | - | - | - | - | - | - | 6,376 | 5,760 | - |
Commitments fees on undrawn line of credit | |||||||||
- | - | - | - | - | - | - | - | - | 2,855 |
Amortization and write off of deferred financing fees | |||||||||
4,218 | 736 | 26,712 | 53,063 | 48,980 | 20,548 | 24,926 | 10,866 | 12,940 | 15,980 |
Amortization of convertible senior notes debt discount | |||||||||
- | - | - | 45,261 | 43,769 | 38,855 | 34,144 | 26,516 | 1,769 | 0 |
Amortization of fair value of acquired time charters | |||||||||
684 | 4,346 | 2,840 | 7,443 | 10,759 | 20,527 | 7,534 | -5,557 | 9,462 | - |
Impairment loss and (gain)/loss from sale of vessels and vessel owning companies and other | |||||||||
4,125 | -106,343 | -1,057,116 | -38,148 | -43,490 | - | - | - | - | - |
Impairment on goodwill | |||||||||
0 | 7,002 | 0 | 0 | - | - | - | - | - | 700,457 |
Loss on contract cancellation | |||||||||
- | - | - | 1,307 | 0 | - | - | - | - | - |
Net proceeds from sale in ownerships of subsidiary | |||||||||
0 | 0 | 1,266 | 0 | 0 | - | - | - | - | - |
Losses of affiliated company | |||||||||
0 | -41,454 | -349,872 | 0 | 0 | - | - | - | - | - |
Loss on change of control | |||||||||
0 | 0 | -1,347,106 | 0 | 0 | - | - | - | - | - |
Loss on Private Placement | |||||||||
7,600 | 0 | 0 | - | - | - | - | - | - | - |
Amortization of cash flow hedge reserve | |||||||||
- | - | - | - | - | 22,904 | 13,088 | -11,539 | 5,262 | - |
Amortization of fair value of acquired time charters | |||||||||
- | - | - | - | - | - | - | - | - | 34,638 |
Vessel impairment charge | |||||||||
- | - | - | - | - | 0 | 144,688 | 3,588 | 1,578 | 0 |
Loss on sale of assets, net | |||||||||
- | - | - | - | - | -1,179 | -3,357 | 9,435 | - | - |
Loss (Gain )on sale of assets, net | |||||||||
- | - | - | - | - | - | - | - | 2,045 | 223,022 |
Loss on contract cancellation | |||||||||
- | - | - | - | - | 0 | 6,202 | 0 | 15,270 | 9,098 |
Gain on vessel insurance proceeds | |||||||||
- | - | - | - | - | - | 25,064 | - | - | - |
Gain on sale of notes | |||||||||
- | - | - | - | - | 709 | 1,406 | - | - | - |
Gain on vessel insurance proceeds | |||||||||
- | - | - | - | - | - | - | 0 | 0 | - |
Gain on sale of notes | |||||||||
- | - | - | - | - | - | - | 0 | 0 | - |
Forfeiture of advances for vessel acquisitions | |||||||||
- | - | - | 13,933 | 0 | 19,939 | 0 | 0 | 93,158 | - |
Equity in loss of investees | |||||||||
- | - | - | - | - | - | - | - | - | -6,893 |
Forfeiture of advances for vessel acquisitions | |||||||||
- | - | - | - | - | - | - | - | - | 55,000 |
Contract termination fees | |||||||||
- | - | - | - | - | - | - | - | 99,205 | 0 |
Amortization of stock based compensation | |||||||||
1,728 | 3,580 | 7,806 | 11,093 | 11,424 | 13,299 | 26,568 | 24,200 | 38,071 | 31,502 |
Gain on debt restructuring | |||||||||
0 | 8,652 | 0 | 0 | - | - | - | - | - | - |
Interest income on restricted cash | |||||||||
- | - | - | - | - | - | 4,318 | 6,205 | 6,997 | 0 |
Change in fair value of derivatives | |||||||||
0 | 2,193 | 10,848 | 29,304 | 88,859 | 54,506 | 38,155 | -48,439 | 60,230 | -204,964 |
Security deposits for derivatives | |||||||||
- | - | - | - | - | -24,550 | -45,500 | 37,900 | 9,100 | 31,600 |
Amortization of free lubricants benefit | |||||||||
- | - | - | - | -12 | 14 | 15 | 24 | 333 | - |
Amortization of free lubricants benefit | |||||||||
- | - | - | - | - | - | - | - | - | 276 |
Trade accounts receivable | |||||||||
6,998 | -2,531 | 12,997 | 82,667 | 147,936 | 33,469 | 114,420 | -41,477 | 14,240 | -23 |
Due from related parties | |||||||||
10,240 | -10,875 | -19,141 | -12,089 | -1,663 | 14,540 | 5,211 | -6,610 | 15,451 | 2,770 |
Other current and non-current assets | |||||||||
7,700 | -3,002 | -54,448 | -38,219 | 33,164 | 58,277 | 52,013 | 6,208 | 16,059 | -433 |
Accounts payable and other current and non-current liabilities | |||||||||
4,046 | -1,434 | -25,263 | -25,489 | 9,705 | 41,098 | 30,569 | -10,336 | 1,259 | -291 |
Pension liability | |||||||||
- | - | - | - | - | - | - | 1,415 | -142 | 0 |
Accrued liabilities | |||||||||
1,049 | -206 | -39,590 | -41,436 | 55,509 | 57,277 | 45,561 | 14,133 | 13,887 | 10,770 |
Due to related parties | |||||||||
-961 | 2,598 | -10,261 | 819 | -4,139 | -2,768 | -5,805 | 0 | 0 | - |
Other non - current assets | |||||||||
- | - | - | - | - | - | - | - | -126 | 0 |
Other non - current assets | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Deferred revenue | |||||||||
258 | -118 | 28,833 | -75,183 | 135,447 | 94,771 | -1,116 | -2,956 | -3,316 | -575 |
Net settlements of cash flow hedges | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Net Cash Provided by / (Used in) Operating Activities | |||||||||
-38,019 | -25,356 | 215,747 | 475,108 | 245,980 | 237,529 | 349,205 | 476,801 | 294,124 | 540,129 |
Cash Flows from Investing Activities: | |||||||||
Advance for fixed asset purchase | |||||||||
44,869 | 0 | 0 | - | - | - | - | - | - | - |
Investment in affiliates | |||||||||
0 | 49,911 | 0 | 0 | - | - | - | - | - | - |
Cash decrease due to deconsolidation of Ocean Rig | |||||||||
0 | 0 | 621,615 | 0 | 0 | - | - | - | - | - |
Acquisition of Nautilus, net of cash acquired | |||||||||
0 | 0 | 78,203 | 0 | 0 | - | - | - | - | - |
Short term investments | |||||||||
0 | 0 | 74 | 368 | -442 | - | - | - | - | - |
Fixed assets additions | |||||||||
653,344 | 0 | 505,670 | 806,561 | 1,468,226 | - | - | - | - | - |
Proceeds from sale of vessels | |||||||||
-8,221 | -5,141 | -673,850 | 0 | - | - | - | - | - | - |
Vessel insurance proceeds | |||||||||
- | - | - | - | - | - | 58,200 | 0 | 516 | 4,622 |
Short term investment | |||||||||
- | - | - | - | - | 0 | 0 | - | - | - |
Business acquisitions, net of cash acquired | |||||||||
- | - | - | - | - | - | 58,743 | 0 | 0 | 991,306 |
Cash from acquisition of drillships | |||||||||
- | - | - | - | - | - | - | - | 248 | 0 |
Purchase of notes | |||||||||
- | - | - | - | - | - | 75,000 | 0 | 0 | - |
Sale of notes | |||||||||
- | - | - | - | - | 18,709 | 58,406 | 0 | - | - |
Sale of notes | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Advances for vessel acquisitions and drillships under construction | |||||||||
- | - | - | - | - | 276,956 | 2,221,427 | 890,098 | 129,889 | 507,322 |
Delivery payment for rig / drillships under construction | |||||||||
- | - | - | - | - | - | - | 294,569 | 0 | - |
Advances for rigs under constructions - related party | |||||||||
- | - | - | - | - | - | - | - | - | 4,963 |
Delivery payment for rig under construction | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Option for future construction of rigs/ drillships | |||||||||
- | - | - | - | - | - | - | 99,024 | 0 | 0 |
Vessel acquisitions and improvements | |||||||||
- | - | - | - | - | 177,724 | 0 | 43,448 | 48,542 | 742,844 |
Drilling rigs, drillships equipment and other improvements | |||||||||
- | - | - | - | - | 97,868 | 78,480 | 10,136 | 14,540 | 16,584 |
Net proceeds from sale of vessels and vessel owning companies | |||||||||
- | - | - | - | 0 | 116,834 | 119,059 | 73,317 | 45,433 | 410,204 |
(Increase)/Decrease in restricted cash | |||||||||
15,376 | -14,666 | -65,866 | -51,476 | -234,338 | -27,058 | -375,591 | - | - | - |
Proceeds from sale of subsidiary | |||||||||
- | - | - | - | - | - | - | - | 100 | 0 |
Increase in restricted cash | |||||||||
- | - | - | - | - | - | - | 416,790 | -35,363 | -262,659 |
Decrease in restricted cash | |||||||||
- | - | - | - | - | - | - | 0 | -12,087 | 0 |
Net Cash Used in Investing Activities | |||||||||
-705,368 | 69,718 | -465,698 | -754,717 | -1,234,330 | -389,947 | -1,822,394 | -1,680,748 | -169,950 | -2,110,852 |
Cash Flows from Financing Activities: | |||||||||
Proceeds from long-term debt | |||||||||
150,000 | 28,000 | 492,000 | 2,617,100 | 2,982,576 | - | - | - | - | - |
Principal payments and prepayments of long-term debt | |||||||||
18,780 | 119,758 | 782,366 | 2,008,826 | 1,803,366 | - | - | - | - | - |
Payments of convertible notes | |||||||||
- | - | - | 700,000 | 0 | 0 | - | - | - | - |
Proceeds from issuance of convertible notes | |||||||||
- | - | - | - | - | - | - | 237,202 | 447,810 | 0 |
Proceeds from long-term debt and senior notes | |||||||||
- | - | - | - | - | 966,103 | 2,555,102 | 8,250 | 855 | - |
Proceeds from long-term credit facility | |||||||||
- | - | - | - | - | - | - | - | - | 2,443,987 |
Proceeds from short-term credit facility | |||||||||
- | - | - | - | - | - | - | 300,000 | 150,000 | 430,926 |
Payments of short-term credit facility | |||||||||
- | - | - | - | - | - | 300,000 | 247,717 | 355,052 | 793,416 |
Principal payments and repayments of long-term debt and senior notes | |||||||||
- | - | - | - | - | 867,932 | 877,793 | 217,726 | 874,344 | 914,347 |
Net proceeds from common stock issuance | |||||||||
568,883 | 123,810 | 0 | 421,911 | 23,438 | 0 | 0 | 341,774 | 950,555 | 662,664 |
Net proceeds from sale in ownerships of subsidiary | |||||||||
- | - | - | - | 122,960 | 180,485 | 0 | 488,301 | 0 | 0 |
Dividends paid | |||||||||
10,001 | 0 | 20,526 | 30,563 | 0 | 0 | - | - | - | - |
Acquisition of non controlling interests | |||||||||
- | - | - | - | - | - | - | - | 50,000 | 0 |
Dividends paid | |||||||||
- | - | - | - | - | - | - | - | - | 33,244 |
Payment of financing costs | |||||||||
8,639 | 0 | 5,399 | 48,913 | 84,066 | 35,431 | 44,507 | 7,876 | 4,204 | 33,801 |
Proceeds from share-lending arrangement | |||||||||
- | - | - | - | - | - | - | 100 | 261 | 0 |
Net Cash Provided by Financing Activities | |||||||||
681,463 | 32,052 | -316,291 | 250,709 | 1,241,542 | 243,225 | 1,332,802 | 902,308 | 265,881 | 1,762,769 |
Net increase/ (decrease) in cash and cash equivalents | |||||||||
-61,924 | 76,414 | -566,242 | -28,900 | 253,192 | 90,807 | -140,387 | -301,639 | 390,055 | 192,046 |
SUPPLEMENTAL CASH FLOW INFORMATION: | |||||||||
Interest, net of amount capitalized | |||||||||
13,225 | 5,516 | 135,954 | 267,554 | 171,649 | 118,606 | 34,117 | 58,851 | 63,814 | 85,910 |
Income taxes | |||||||||
125 | 58 | 20,830 | 60,374 | 50,392 | 45,450 | 23,199 | 19,803 | 13,233 | 2,566 |
Non cash investing activities: | |||||||||
Fixed Assets additions (Notes 4, 7) | |||||||||
50,340 | - | - | - | - | - | - | - | - | - |
Investment in affiliates (Notes 9, 11) | |||||||||
34,000 | - | - | - | - | - | - | - | - | - |
Non cash financing activities: | |||||||||
Repayment of credit loan facilities (Notes 3, 10) | |||||||||
- | 151,510 | - | 0 | - | - | - | - | - | - |
Conversion of loan into Stock (Notes 3, 12) | |||||||||
- | - | - | 0 | - | - | - | - | - | - |
Exchange of Preferred Stock into loan (Notes 3, 12) | |||||||||
- | 8,750 | - | 0 | - | - | - | - | - | - |
Interest write off due to the debt restructuring | |||||||||
- | 2,111 | - | - | - | - | - | - | - | - |
Preferred Shares forfeiture with common stock issuance (Notes 3, 12) | |||||||||
8,750 | - | - | - | - | - | - | - | - | - |
Stockholders' Contribution upon preferred shares forfeiture (Note 12) | |||||||||
2,805 | - | - | - | - | - | - | - | - | - |
Interest write off due to debt restructuring | |||||||||
- | - | - | 0 | - | - | - | - | - | - |
Common stock issuance (Notes 3, 12) | |||||||||
173,704 | - | - | - | 10 | - | - | - | - | - |
Loan drawdown for vessels additions (Notes 4, 11) | |||||||||
79,000 | - | - | - | - | - | - | - | - | - |
Capital distribution for common control transaction (Note 5) | |||||||||
28,560 | - | - | - | - | - | - | - | - | - |
Issuance of non-vested shares | |||||||||
- | - | - | - | - | - | - | 45 | 1 | 10 |
Difference between the consideration received and the equity attributed to non-controlling interest | |||||||||
- | - | - | - | - | - | - | 153,092 | 357,877 | 0 |
Issuance of common stock and warrants for termination agreements | |||||||||
- | - | - | - | - | - | - | - | 79,247 | 0 |
Deemed shareholders contribution | |||||||||
- | - | - | - | - | - | - | - | 19,958 | 0 |
Fair value of shares issued for the acquisition of non controlling interest | |||||||||
- | - | - | - | - | - | - | - | 268,000 | 0 |
Difference between the consideration received and the equity attributed to non-controlling interest | |||||||||
- | - | - | - | - | - | - | - | 357,877 | 0 |
Fair value of preferred share dividend | |||||||||
- | - | - | - | - | - | - | 13,624 | 7,497 | - |
Fair value of preferred share dividends | |||||||||
- | - | - | - | - | - | - | - | - | 0 |