Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF CASH FLOWS

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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (230,814) $ (94,284) $ 24,461
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 139,795 156,194 145,121
Accretion Expense 419 826 0
Gains (Losses) on Restructuring of Debt 1,088 0 0
Loss on extinguishment of debt 0 0 30,152
Gain on disposition of assets 1,613 (1,643) (1,054)
Deferred tax expense (benefit) 69,062 2,709 1,509
Provision for reduction in carrying value of certain assets 0 (12,490) 0
Expenses not requiring cash 1,362 5,103 19,331
Change in assets and liabilities:      
Accounts and notes receivable 60,391 103,995 (12,238)
Rig materials and supplies (1,752) 2,722 (2,878)
Other current assets 2,140 12,548 26,032
Accounts payable and accrued liabilities (19,494) (27,425) 27,231
Increase (Decrease) in Income Taxes Payable (6,422) (7,957) (7,657)
Other assets 3,897 (3,156) (47,543)
Net cash provided by operating activities 21,285 162,122 202,467
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (28,954) (88,197) (179,513)
Proceeds from the sale of assets 2,441 830 5,938
Proceeds from Insurance Settlement, Investing Activities 0 2,500 0
Acquisition of ITS, net of cash acquired 0 (13,806) 0
Proceeds from Divestiture of Businesses, Net of Cash Divested 0 (2,570) 0
Net cash used in investing activities (26,513) (101,243) (173,575)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of debt 0 0 400,000
Repayments of long-term debt 0 (30,000) (435,000)
Repayments of term loan     (435,000)
Payments of debt issuance costs 0 (1,996) (7,630)
Payments for Repurchase of Redeemable Noncontrolling Interest (3,375) 0 0
Payments of debt extinguishment costs 0 0 (26,214)
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability (6,000) (2,000) 0
Excess tax benefit (expense) from stock-based compensation 0 (1,045) (281)
Net cash provided by (used in) financing activities (9,375) (35,041) (69,125)
Net increase (decrease) in cash and cash equivalents (14,603) 25,838 (40,233)
Cash and cash equivalents at beginning of year 134,294 108,456 148,689
Cash and cash equivalents at end of year 119,691 134,294 108,456
Supplemental cash flow information:      
Interest paid 41,175 41,393 41,820
Income taxes paid $ 14,341 $ 26,208 $ 26,694