In millions, except per share items | Dec-31-16 | Dec-31-15 | Dec-31-14 | Dec-31-13 | Dec-31-12 | Dec-31-11 | Dec-31-10 |
| 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | S-1/A |
Cash flows from operating activities: | | | | | | | |
Net income | 51.9 | 34.8 | 16.1 | 27.0 | 22.4 | 11.7 | 18.7 |
Adjustments to reconcile net income to net cash from operating activities: | | | | | | | |
Depreciation | 24.9 | 25.8 | 21.3 | 20.5 | 22.1 | 21.8 | 21.1 |
Provision of doubtful accounts | 3.6 | 2.0 | 3.2 | | | | |
Share-based compensation | 12.2 | 10.0 | 8.8 | | | | |
Amortization | 18.4 | 19.0 | 14.2 | 9.9 | 10.1 | 9.6 | 7.7 |
Income taxes | 1.4 | 2.4 | -0.1 | -1.4 | 0.4 | -0.4 | -0.6 |
Loss on sale of vessels, net | 6.3 | 0.1 | 12.9 | 4.3 | 6.0 | | |
Impairment charge | | 5.3 | 4.1 | | | | |
Gain on sale of subsidiary | | | | | | | |
Change in fair value of derivatives | 29.4 | -3.6 | -19.7 | 0.7 | 1.5 | -0.8 | |
Other non-cash charges | -0.7 | -0.4 | -0.9 | 0.3 | 1.2 | | 0.4 |
(Increase) / Decrease in: | | | | | | | |
Trade receivables | -188.0 | 40.7 | 117.9 | 4.6 | 48.3 | -84.8 | -70.3 |
Due from related companies | -2.7 | -0.9 | -4.0 | 0.6 | 0.9 | 4.4 | -12.1 |
Inventories | -73.2 | 42.5 | 146.3 | -25.1 | 23.2 | -49.0 | -8.4 |
Prepayments and other current assets | 18.0 | -61.7 | -16.2 | -8.9 | -1.3 | -5.4 | 0.2 |
Increase / (Decrease) in: | | | | | | | |
Trade payables | 59.2 | -46.6 | -122.7 | -1.1 | -8.6 | 43.1 | -19.3 |
Other payables to related companies | 0.2 | 0.0 | -0.7 | 0.4 | -0.7 | | 0.0 |
Accrued and other current liabilities | -5.2 | -10.1 | 11.4 | 17.6 | -2.4 | 0.7 | 2.8 |
Decrease / (increase) in other non-current assets | 0.3 | -0.1 | -0.7 | 0.0 | 0.0 | -0.1 | 0.0 |
Increase in other non-current liabilities | 1.0 | 0.0 | 1.3 | 0.6 | 0.0 | 0.1 | 0.1 |
Payments for dry-docking | -4.7 | -9.5 | -10.3 | -9.0 | -5.6 | 6,910.3 | -10.1 |
Net cash (used in) / provided by operating activities | -47.6 | 49.7 | 182.2 | 40.6 | 123.5 | -44.9 | -64.6 |
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Cash flows from investing activities: | | | | | | | |
Advances for vessels under construction | | -3.0 | -2.7 | -1.6 | -2.3 | 8.7 | -59.6 |
Advances for vessel acquisitions | -8.7 | | -7.8 | | | | -26.6 |
Advances for other fixed assets under construction | -2.6 | -5.4 | -61.4 | | | | |
Proceeds from sale of subsidiary, net of cash surrendered | | | | | | | |
Business acquisitions | | | | | | | |
Net proceeds from sale of vessels | 8.1 | 0.0 | 16.2 | 8.3 | | | |
Net proceeds from sale of vessel to a related party | 0.4 | | | 0.1 | 6.0 | | |
Purchase of other fixed assets | -0.2 | -0.8 | -8.0 | -5.1 | -0.8 | -0.2 | -10.5 |
Increase in restricted cash | | | | | | | |
Increase in restricted cash | -0.9 | 1.5 | 4.2 | | | | |
Purchase of intangible assets | | | | | | | |
Net cash used in investing activities | -3.8 | -7.6 | -59.5 | -181.8 | -58.2 | -45.6 | -169.0 |
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Cash flows from financing activities: | | | | | | | |
Proceeds from long-term debt | 163.0 | 173.3 | 119.5 | 170.8 | | 17.3 | 176.2 |
Repayment of long-term debt | -76.2 | -119.1 | -35.7 | -152.8 | -26.1 | -77.4 | -116.8 |
Repayment of capital lease obligation | | | -0.4 | -1.2 | -1.3 | -1.2 | -1.2 |
Net change in short-term borrowings | 11.9 | -69.5 | -127.6 | 124.8 | -27.5 | 142.4 | 95.1 |
Proceeds from short-term borrowings from related parties | 20.0 | | | | | | |
Increase in restricted cash | -1.5 | | | 0.4 | | 0.0 | 0.0 |
Financing costs paid | -8.1 | -9.0 | -3.3 | -11.1 | -0.4 | -1.3 | -0.4 |
Repurchases of common stock | -99.6 | | | | 0.0 | -4.6 | -24.7 |
Dividends paid to non-controlling interest | | | -0.3 | -2.7 | | | |
Dividends paid | -3.8 | -3.9 | -2.4 | -1.9 | -1.9 | -1.9 | -1.9 |
Net cash provided by / (used in) financing activities | 5.8 | -28.3 | -50.3 | | | | |
Effect of exchange rate changes on cash and cash equivalents | 0.2 | -4.1 | -5.5 | 0.6 | 0.4 | -0.6 | |
Net (decrease) / increase in cash and cash equivalents | -45.5 | 9.8 | 67.0 | -14.7 | 8.7 | -17.9 | 31.7 |
Cash and cash equivalents at beginning of year | 139.3 | 129.6 | 62.6 | 77.2 | 68.6 | | |
Cash and cash equivalents at end of year | 93.8 | 139.3 | 129.6 | 62.6 | 77.2 | 68.6 | |
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SUPPLEMENTAL CASH FLOW INFORMATION | | | | | | | |
Cash paid during the year for interest, net of capitalized interest: | 26.1 | 21.5 | 21.4 | | | | |
Cash paid during the year for income taxes: | 2.1 | 0.9 | 3.4 | 0.7 | 7.5 | 4.1 | 1.8 |
Non cash advances for other fixed assets under construction: | | | 4.2 | | | | |
Non cash advances for vessels under construction: | | | 1.2 | | | | |