Helix energy solutions group, inc. (HLX)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net income (loss)

-13,928

7,934

31,622

16,823

1,318

-13,747

27,121

17,784

-2,560

50,580

2,290

-6,403

-16,415

-54,413

11,462

-10,671

-27,823

-403,867

9,880

-2,635

19,642

7,960

75,586

57,782

54,222

37,265

45,392

28,000

2,392

-170,767

15,665

45,430

66,516

17,467

46,826

42,109

26,635

-49,025

26,947

-85,073

-17,002

Adjustments to reconcile net income (loss) to net cash used in operating activities:
Income from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

44

-29

1,058

-71,888

4,503

42,216

48,853

-

-

-

-

-

-

-

-

Depreciation and amortization

31,598

28,300

27,908

28,003

28,509

27,183

27,680

27,877

27,782

26,075

26,293

25,519

30,858

29,341

27,607

25,674

31,565

34,068

32,805

27,439

26,089

28,071

28,421

28,127

24,726

26,993

21,850

25,312

24,380

25,016

24,797

22,739

24,649

-148,352

72,370

75,027

92,143

-140,852

76,462

85,441

60,827

Goodwill, Impairment Loss

6,689

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash impairment charges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-167,549

842

159,492

11,292

Amortization of debt discounts

1,633

1,619

1,572

1,557

1,513

1,497

1,579

1,299

1,360

1,201

1,184

1,159

1,144

1,250

1,521

1,567

1,567

1,548

1,481

1,464

1,464

1,447

1,384

1,368

1,397

1,322

1,293

1,279

1,278

2,476

2,477

2,421

2,355

2,280

2,279

2,207

2,207

2,137

2,136

2,068

2,068

Amortization of debt issuance costs

833

848

856

994

902

889

904

864

935

916

912

2,968

1,358

1,303

1,292

1,301

3,837

1,547

1,521

1,378

1,218

1,217

1,218

1,217

1,218

1,096

1,267

1,352

1,472

4,096

1,698

1,681

1,611

1,713

2,420

2,796

1,981

1,972

1,963

2,042

1,726

Share-based compensation

2,259

2,490

2,478

3,782

2,719

2,356

2,547

2,522

2,500

3,264

2,432

2,409

2,772

1,511

1,484

1,459

1,408

-1,398

4,426

1,761

1,754

-2,578

1,956

1,944

1,811

1,010

1,824

2,120

3,353

2,066

1,903

1,820

1,838

138

1,897

1,985

2,953

586

2,300

2,101

2,488

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-174

260

-52

-262

-237

619

51

-215

-234

617

-35

-494

-317

-340

-208

391

-227

-969

-1,569

-213

-4,005

1,842

Deferred income taxes

-6,517

1,138

1,502

855

-10

3,286

-4,094

-1,730

108

-51,566

-2,939

4,605

-4,685

21,575

3,321

-1,116

-8,931

-100,619

51

-1,340

-1,114

-1,574

-2,941

-5,738

33,407

-1,026

-39,969

-726

16,784

-96,079

4,871

24,297

-2,673

-35,895

7,843

14,535

9,329

6,499

1,414

-52,639

-2,110

Equity in losses of investment

-20

1,521

-13

-29

-40

-3,540

-107

-135

-136

-2,825

153

152

152

-2,532

122

121

123

-124,345

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on investment in Cal Dive common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

753

-

-

0

0

(Gain) loss on disposition of assets, net

-

-

-

-

-

-

-

-

-

0

0

0

-39

1,290

0

0

0

-

-

-

-

-178

0

-1,078

11,496

-

-

-

-

-

-

-

-

0

0

-22

16

2,872

13

-14

6,247

Loss on extinguishment of long-term debt

-

-

-

-

-

0

-2

-76

-1,105

0

0

-397

0

-

-

-

-

-

-

-

-

-

-

-

-

0

-8,572

-646

-2,882

0

0

0

-17,127

-

-

-

-

-

-

-

-

Unrealized gain on derivative contracts, net

601

1,032

611

911

829

35

735

20

1,534

132

1,809

1,410

1,072

-482

3,135

1,798

4,349

-16,059

-281

240

-2,181

-1,251

0

-1

-68

63

498

331

-969

50

349

-35

-114

51

-467

-284

318

736

-5,117

-188

3,001

Unrealized foreign currency (gain) loss

-9,237

-

-

-

1,128

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable, net

25,375

-42,349

14,743

8,072

22,584

-36,689

1,450

37,080

-22,761

6,715

11,587

46,252

-36,130

-4,909

46,408

12,460

-31,522

-49,680

-15,680

14,089

14,917

-60,459

-24,191

35,160

5,527

5,366

-21,748

23,416

-3,714

-34,221

102,293

-57,585

-6,835

6,286

5,998

17,826

381

471

-1,335

54,414

-23,823

Income tax receivable

17,033

-

-

-

2,370

-

-

-

-

-

-

-

1,148

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current assets

5,475

-13,168

-15,172

-10,172

13,129

4,242

-4,000

5,714

3,948

3,535

1,188

6,143

4,814

-8,467

7,798

550

2,505

-1,346

5,294

-1,561

-10,343

-12,927

17,390

-5,124

7,122

-6,373

7,575

-2,902

-12,577

-7,164

-1,973

30,054

-10,483

-29,883

23,812

6,157

-18,869

6,035

12,530

-47,257

30,780

Income tax payable, net of income tax receivable

-

-

-

-

-

-1,999

4,408

1,408

-2,853

-

-

-

-

-

-

-

-2,815

4,688

-2,680

-4,150

-5,322

-16,352

49,816

1,730

-26,106

-18,358

18,648

-36,171

-20,283

-4,221

-13,674

-22,150

23,233

-2,657

13,283

-1,816

-2,338

-5,110

15,707

-1,298

-9,513

Accounts payable and accrued liabilities

15,543

-17,128

-14,862

15,996

-15,899

-7,320

-2,234

21,458

-12,256

2,706

3,303

20,675

6,697

1,164

6,185

13,129

-21,108

-11,772

-16,727

13,400

-48,718

-12,286

10,815

28,697

-14,385

14,268

-11,232

13,684

-48,765

89,315

6,205

13,915

-35,987

51,859

-1,598

31,677

-58,747

9,330

10,635

50,054

-22,027

Oil and gas asset retirement costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-448

-3,936

-5,710

-240

-2,224

-16,505

-13,874

-5,367

29,929

-18,763

-7,913

-8,160

-

-23,517

-16,186

-12,541

Other non-current, net

16,105

-2,940

-6,430

2,815

13,298

2,180

-3,472

-17,741

-7,510

5,597

7,793

10,343

22,167

16,875

16,587

3,930

1,684

5,566

5,114

11,647

2,403

21,824

11,262

-4,261

2,757

8,463

-6,556

112

7,005

825

3,640

15,884

4,056

9,028

2,003

-10,147

-692

-1,851

16,897

-7,115

-2,324

Net cash used in operating activities

-17,222

-

-

-

-34,246

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

54,552

48,299

10,177

-38,670

144,346

87,132

87,215

133,805

216,024

100,558

165,508

85,065

89,688

105,366

117,963

18,437

Net cash used in discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-30,503

23,741

150,486

26,563

75,640

-

-

-

-

-

-

-

-

Net cash provided by operating activities

-

-

-

-

-

-

-

46,620

41,046

-

15,722

-13,248

28,849

-

-9,445

24,082

807

-

36,396

13,076

-10,043

-

162,056

90,668

48,837

54,552

48,299

10,177

-8,167

120,605

-63,354

60,652

58,165

-

-

-

-

-

-

-

-

Cash flows from investing activities:
Capital expenditures

12,389

95,218

18,178

15,803

11,655

81,652

13,462

20,755

21,214

99,699

37,032

46,396

48,000

107,134

21,790

34,694

22,869

39,788

47,651

180,348

52,524

132,384

111,527

55,010

37,991

48,491

173,552

65,928

36,455

106,088

101,172

32,817

82,962

-67,695

61,727

71,634

34,488

-56,800

43,406

67,184

68,428

Distributions from equity investment

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,200

1,147

2,011

2,463

1,379

2,870

192

2,757

2,092

3,185

1,543

2,517

2,050

1,623

4,129

-3,898

5,943

528

1,844

-1,586

480

-7,590

1,744

7,167

965

Proceeds from Sale of Equity Method Investments

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

25,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of assets

0

0

25

2,500

25

0

25

0

0

-

-

-

-

2,290

0

0

10,887

10,092

0

0

7,500

2,500

0

0

11,074

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of Cal Dive common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,588

-

-

0

0

Other

0

-

-

-

326

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

20,085

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

160

-250

-613

-

24

105

4

Net cash used in investing activities

-

-

-

-

-

-

-

-20,755

-21,214

-

-37,032

-36,396

-48,000

-

-21,790

-34,694

14,218

-

-45,640

-177,885

-43,645

-

-111,335

-52,253

-44,910

-45,306

-91,205

44,839

-34,405

-99,435

-82,543

-36,715

-77,019

-

-

-

-

-

-

-

-

Net cash provided by discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

582,965

-34,362

-54,027

-13,808

-17,860

-

-

-

-

-

-

-

-

Net cash used in investing activities

-12,389

-

-

-

-11,956

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-45,306

-91,205

44,839

548,560

-133,797

-136,570

-50,523

-94,879

-19,497

-60,043

-72,970

-29,807

-21,471

-42,513

-50,105

-67,467

Cash flows from financing activities:
Issuance of convertible senior notes

-

-

-

-

-

0

0

0

125,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

200,000

-

-

-

-

-

-

-

-

Early extinguishment of Senior Unsecured Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

209,500

-

-

-

-

-

-

-

-

Borrowings under revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

45,044

2,573

0

0

0

100,000

-

-

-

-

-

-

-

-

Repayment of revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

123,144

24,473

-

-

-

-

-

-

-

-

-

-

-

-

Redemption of convertible senior notes

-

-

-

-

-

0

3

884

59,478

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

3,487

154,343

0

0

143,945

-

-

-

-

-

-

-

-

Proceeds from term loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

100,000

-

-

-

-

-

-

-

-

Repayment of term loans

875

875

875

32,756

936

935

936

468

61,468

1,250

1,250

185,849

6,409

32,242

15,500

7,500

7,500

7,500

7,500

3,750

3,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of Nordea Q5000 Loan

8,929

8,928

8,929

8,928

8,929

8,928

8,929

8,928

8,929

8,929

8,928

8,929

8,929

8,928

8,928

8,929

8,929

8,928

8,929

0

0

-

-

-

3,750

-370,931

3,750

72,299

294,882

1,984

7,835

2,000

750

18,750

750

110,109

1,082

1,081

1,082

1,081

1,082

Repayment of MARAD Debt

3,556

0

3,471

0

3,387

0

3,306

0

3,226

0

3,149

0

3,073

0

2,999

0

2,927

0

2,856

0

2,788

0

2,721

0

2,655

0

2,591

0

2,529

0

2,468

0

2,409

0

2,351

0

2,294

-442

2,463

4,806

-2,403

Loan notes repayment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

675

456

711

Debt issuance costs

212

42

59

1,372

113

0

11

82

3,774

23

29

3,611

54

3,425

0

19

1,211

126

78

1,533

0

-

-

-

-

6

16

10,891

41

-186

1,281

148

6,337

-

-

-

-

83

72

3

2,789

Distributions to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,018

1,038

1,026

996

1,037

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

0

0

-5

219,509

2,009

55,765

38,773

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments related to tax withholding for share-based compensation

5,150

335

16

503

826

349

0

0

1,058

736

0

0

1,306

154

0

14

173

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred stock dividends paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

34

60

Repurchases of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

30

1,026

-156

1,885

1,204

5,449

5,694

0

4,089

1,473

-313

0

6,519

991

6,532

60

85

927

-

-

8,151

976

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-174

260

-52

-262

-237

619

51

-215

-234

617

-35

-494

-317

-340

-208

391

-227

-969

-1,569

-213

-321

-1,842

Exercise of stock options, net and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

639

281

-360

174

-12

892

-9

381

-10

334

509

-70

-2,292

172

163

0

Proceeds from issuance of ESPP shares

331

0

181

145

136

0

174

173

159

0

153

135

144

0

108

0

600

0

972

1,213

1,299

0

1,291

990

942

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-18,391

-10,180

-13,169

-8,414

-14,055

-10,212

-13,011

-10,189

-12,774

-10,938

-13,203

-98,259

199,882

-42,741

21,526

15,831

-20,140

-16,619

-18,477

245,726

-6,005

-4,089

-10,470

-4,201

-11,311

-9,798

13,904

-166,969

-324,558

-156,913

-15,435

-8,993

36,109

-25,587

-80,040

-118,926

-5,342

-2,658

-6,875

-9,883

-9,863

Effect of exchange rate changes on cash and cash equivalents and restricted cash

-2,834

1,827

-796

-216

821

-730

-111

-1,171

335

25

967

612

348

-1,144

-375

-1,213

-893

-952

-3,405

3,843

-1,497

3,142

4,821

-2,836

-737

-1,429

-4,344

-170

3,218

-328

-836

1,355

-1,051

169

691

46

-470

46

-499

-152

398

Net decrease in cash and cash equivalents and restricted cash

-50,836

-23,779

25,198

41,119

-59,436

-45,633

36,602

14,505

7,393

-90,297

-33,546

-147,291

181,079

-125,459

-10,084

4,006

-6,008

25,256

-31,126

84,760

-61,190

-70,037

45,072

31,378

-8,121

-1,981

-33,346

-112,123

188,550

-146,692

-65,709

29,054

73,984

171,109

-38,834

-26,342

49,446

65,605

55,479

57,823

-58,495