v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (773,559) $ (721,888)
Adjustments for:    
Amortization of deferred financing costs and debt guarantee, net 21,643 43,073
Depreciation and amortization 107,867 127,785
Deferred taxes (9,766) 11,822
Share-based compensation 8,812 5,021
Asset impairment expense 61,864 123,129
Goodwill impairment expense 0 582,172
(Gain) loss on sale 258 (470,994)
Loss on extinguishment of debt 4,293 20,787
(Earnings) recognized from vessels chartered to third parties transferred to Energos (3,652) (23,329)
Other 9,269 (14,422)
Changes in operating assets and liabilities:    
(Increase) decrease in receivables 145,653 (16,317)
(Increase) decrease in inventories (1,723) 6,112
(Increase) decrease in other assets (70,052) (37,370)
(Increase) decrease in right-of-use assets 33,405 32,772
Increase (decrease) in accounts payable/accrued liabilities 134,486 101,753
Increase (decrease) in lease liabilities (27,776) (39,857)
Increase (decrease) in other liabilities 80,737 (66,440)
Net cash provided by (used in) operating activities (278,241) (336,191)
Cash flows from investing activities    
Capital expenditures (83,848) (501,730)
Sale of Jamaica business 0 949,456
Other investing activities 0 4,791
Net cash provided by (used in) investing activities (83,848) 452,517
Cash flows from financing activities    
Proceeds from borrowings of debt 1,201,276 1,316,864
Repayment of debt (674,194) (1,390,187)
Payments made for capital expenditures paid beyond customary vendor payment terms (16,114) (199,033)
Payment of deferred financing costs (6,443) (27,774)
Payment of dividends 0 (3,014)
Other financing activities (7,132) (6,317)
Net cash provided by (used in) financing activities 497,393 (309,461)
Impact of changes in foreign exchange rates on cash and cash equivalents 7,901 48,965
Net increase (decrease) in cash, cash equivalents and restricted cash 143,205 (144,170)
Cash, cash equivalents and restricted cash – beginning of period 356,942 965,577
Cash, cash equivalents and restricted cash – end of period 500,147 821,407
Supplemental disclosure of non-cash investing and financing activities:    
Changes in accounts payable and accrued liabilities associated with construction in progress and property, plant and equipment additions 65,703 (186,115)
Accounts payable and accrued liabilities associated with construction in progress and property, plant and equipment additions 239,098 272,194
Proceeds held in escrow 0 98,635
Principal payments on financing obligation to Energos by third-party charters 0 (17,027)
Cash and cash equivalents 161,191 551,109
Restricted cash 338,956 270,298
Cash, cash equivalents and restricted cash – end of period $ 500,147 $ 821,407