| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||
Net income | ||||||||
144,848 | 185,742 | 172,683 | 184,735 | 150,819 | 127,141 | 95,397 | 63,517 | 52,176 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
103,810 | 100,468 | 99,256 | 80,574 | 66,336 | 51,167 | 45,316 | - | - |
Recognition of foreign tax losses | ||||||||
0 | 0 | -4,945 | -11,832 | 0 | 0 | - | - | - |
Movement in deferred tax liability | ||||||||
5,086 | 5,308 | 4,076 | 2,308 | 0 | 0 | - | - | - |
Movement in deferred tax liability | ||||||||
-2,085 | -2,064 | 0 | 0 | - | - | - | - | - |
Depreciation and amortization | ||||||||
- | - | - | - | - | - | - | 43,106 | 28,238 |
Amortization of deferred tax benefit on intragroup transfers | ||||||||
- | - | - | - | - | -912 | -2,363 | 0 | 0 |
Impairment of long-term assets | ||||||||
- | - | - | - | - | - | - | 1,500 | 1,500 |
Amortization of deferred charges and Hilli debt guarantee | ||||||||
5,969 | 8,412 | 6,308 | 3,554 | 5,828 | 1,123 | 931 | 2,999 | 680 |
Drydocking expenditure | ||||||||
20,660 | 4,060 | 15,093 | 2,468 | 50,979 | 8,288 | 10,543 | 7,266 | -5,960 |
Foreign exchange (gains)/losses | ||||||||
-3,657 | 532 | 493 | 674 | 7,435 | -13,893 | -1,040 | 4,205 | 13,105 |
Realized loss on bond repurchase | ||||||||
-6,327 | 0 | 0 | - | - | - | - | - | - |
Unit options expense | ||||||||
238 | 23 | 0 | 0 | - | - | - | - | - |
Interest element included in obligation under capital lease | ||||||||
534 | -1,205 | 279 | 1,639 | 233 | 401 | 897 | 997 | 1,182 |
Change in assets and liabilities: | ||||||||
Trade accounts receivable | ||||||||
-2,189 | -1,126 | 11,704 | 1,989 | 717 | -173 | -1,698 | -1,096 | -346 |
Inventories | ||||||||
-458 | -230 | 642 | -1,005 | -971 | 849 | -1,440 | 1,485 | 492 |
Other current assets and other non-current assets | ||||||||
2,240 | 5,305 | -3,188 | -8,901 | 9,747 | 6,948 | -295 | 483 | 5,106 |
Other long term assets | ||||||||
- | - | - | - | 0 | - | - | - | - |
Amount due from related parties | ||||||||
17,856 | -17,512 | -18,071 | 6,659 | 1,581 | 3,781 | 16,240 | -29,968 | 121 |
Trade accounts payable | ||||||||
1,417 | -1,700 | 902 | 755 | -1,820 | 2,617 | -1,281 | 2,527 | -3,745 |
Accrued expenses | ||||||||
9,889 | -4,746 | -4,578 | 24 | -6,632 | 14,015 | 1,134 | 1,546 | -3,942 |
Restricted cash | ||||||||
5 | 129 | 7,686 | 0 | 0 | - | - | - | - |
Loss on termination of lease financing agreements | ||||||||
- | - | - | - | - | - | - | -3,452 | 0 |
Other current liabilities | ||||||||
-10,455 | -6,952 | -11,250 | 3,789 | 241 | -7,971 | 6,771 | 9,757 | -26,775 |
Net cash provided by operating activities | ||||||||
271,003 | 261,232 | 212,230 | 276,980 | 148,679 | 189,343 | 156,972 | 87,090 | 61,832 |
INVESTING ACTIVITIES | ||||||||
Additions to vessels and equipment | ||||||||
426 | 0 | 3,667 | 1,293 | 18,152 | 72,286 | 100,259 | 60,065 | 141,308 |
Acquisition of Golar Eskimo and Golar Igloo, net of cash acquired | ||||||||
0 | 0 | 5,971 | 155,319 | 119,927 | 0 | 0 | - | - |
Deposits made in connection with acquisitions from Golar | ||||||||
70,000 | 107,247 | 0 | 0 | - | - | - | - | - |
Short-term debt granted to related parties | ||||||||
0 | 0 | 50,000 | 0 | 0 | - | - | - | - |
Repayment of short-term debt granted to related parties | ||||||||
0 | 0 | 50,000 | 0 | 0 | - | - | - | - |
Restricted cash | ||||||||
0 | 0 | -10,372 | 11,143 | -54,027 | 6,512 | 2,622 | -276,353 | -17,578 |
Net cash used in investing activities | ||||||||
-70,426 | -107,247 | 734 | -167,755 | -84,052 | -78,798 | -102,881 | 216,288 | -123,730 |
FINANCING ACTIVITIES | ||||||||
Repayment of short-term debt due to related parties | ||||||||
- | - | - | - | 20,000 | - | - | - | - |
Proceeds from issuance of equity, net of issue costs | ||||||||
- | - | - | - | - | - | - | 0 | - |
Proceeds from short-term debt due to related parties | ||||||||
- | - | - | 20,000 | 20,000 | - | - | - | - |
Proceeds from short-term debt due to related parties | ||||||||
- | - | - | - | - | 0 | 0 | - | - |
Proceeds from debt | ||||||||
375,000 | 815,000 | 644,070 | 115,000 | 230,000 | 537,194 | 222,310 | 125,000 | 35,000 |
Repayments of Related Party Debt | ||||||||
- | - | - | - | - | 0 | 0 | - | - |
Repayments of long-term debt (including related parties) | ||||||||
228,816 | 770,422 | 707,202 | 93,558 | 149,822 | 427,217 | 58,832 | 84,682 | 39,906 |
Repurchase of high yield bonds and related swaps | ||||||||
-234,197 | 0 | 0 | - | - | - | - | - | - |
Repayments of obligation under capital lease | ||||||||
821 | 122 | 0 | 41 | 2,365 | 6,287 | 6,151 | 247,160 | 3,688 |
Restricted cash | ||||||||
-12,102 | 7,627 | -31,248 | 0 | 0 | - | - | - | - |
Cash distributions paid | ||||||||
161,060 | 154,668 | 152,898 | 140,142 | 119,875 | 77,588 | 29,276 | - | 0 |
Dividend paid to non-controlling interest | ||||||||
7,000 | 12,360 | 11,400 | 13,740 | 10,604 | 1,799 | 2,399 | 3,120 | 1,360 |
Cash distributions paid | ||||||||
- | - | - | - | - | - | - | 0 | - |
Payments in connection with lease terminations | ||||||||
- | - | - | - | 250,980 | 0 | 0 | - | - |
Financing costs paid | ||||||||
5,377 | 13,521 | 6,628 | 846 | 4,794 | 8,400 | 854 | 4,360 | 0 |
Proceeds from issuances of equity, net of issue costs | ||||||||
255,040 | 0 | 0 | - | 280,586 | 401,851 | 0 | - | - |
Common units buy-back and cancellation | ||||||||
0 | 495 | 5,970 | 0 | 0 | - | - | - | - |
Distribution to Golar LNG Limited (Golar) for acquisition of the Golar Freeze | ||||||||
- | - | - | - | - | - | 231,579 | 0 | 0 |
Dropdown Predecessor dividends | ||||||||
- | - | - | - | - | - | 24,336 | 0 | 0 |
Distribution to Golar for acquisition of the NR Satu | ||||||||
- | - | - | - | - | 387,993 | 0 | 0 | - |
Distribution to Golar for acquisition of the Golar Grand | ||||||||
- | - | - | - | - | 176,769 | 0 | 0 | - |
Contributions from owners funding | ||||||||
- | - | - | - | - | -53,572 | 72,686 | 69,344 | -75,078 |
Net cash used in financing activities | ||||||||
-19,333 | -128,961 | -271,276 | -113,327 | -27,854 | -93,436 | -58,431 | -283,666 | 65,124 |
Net increase/(decrease) in cash and cash equivalents | ||||||||
181,244 | 25,024 | -58,312 | -4,102 | 36,773 | 17,109 | -4,340 | 19,712 | 3,226 |
Interest paid | ||||||||
62,670 | 58,005 | 52,814 | 43,011 | 44,651 | 40,858 | 20,415 | 25,708 | 33,018 |
Income taxes paid | ||||||||
4,470 | 5,278 | 5,124 | 2,707 | 5,575 | 1,444 | 1,685 | 470 | 903 |
Noncash or part noncash acquisition, debt assumed | ||||||||
- | - | 162,800 | 161,300 | 89,500 | - | - | - | - |