Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Financial Information

v3.10.0.1
Condensed Consolidating Financial Information
6 Months Ended
Jun. 30, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Consolidating Financial Information
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
On April 21, 2015, the Company issued $350.0 million in aggregate principal amount of the 2023 Notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. In connection with the 2023 Notes Offering, the Company and its subsidiary guarantors entered into a registration rights agreement, dated as of April 21, 2015, pursuant to which the Company agreed to file a registration statement with respect to an offer to exchange the 2023 Notes for a new issue of substantially identical debt securities registered under the Securities Act. The exchange offer for the 2023 Notes was completed on October 13, 2015.
On October 14, 2016, the Company issued $650.0 million in aggregate principal amount of the 2024 Notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The net proceeds from the issuance of the 2024 Notes, together with cash on hand, were used to repurchase or redeem all of the then-outstanding 2020 Notes in October 2016.
On December 21, 2016, the Company issued $600.0 million in aggregate principal amount of the 2025 Notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Company used the net proceeds from the issuance of the 2025 Notes, together with the net proceeds from the December 2016 underwritten offering of the Company’s common stock and cash on hand, to fund the cash portion of the purchase price for the Vitruvian Acquisition.
In connection with the 2024 Notes and the 2025 Notes Offerings, the Company and its subsidiary guarantors entered into two registration rights agreements, pursuant to which the Company agreed to file a registration statement with respect to offers to exchange the 2024 Notes and the 2025 Notes for new issues of substantially identical debt securities registered under the Securities Act. The exchange offers for the 2024 Notes and the 2025 Notes were completed on September 13, 2017.
On October 11, 2017, the Company issued $450.0 million in aggregate principal amount of the 2026 Notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. A portion of the net proceeds from the issuance of the 2026 Notes was used to repay all of the Company's outstanding borrowings under its secured revolving credit facility on October 11, 2017 and the balance was used to fund the remaining outspend related to the Company's 2017 capital development plans.
In connection with the 2026 Notes offering, the Company and its subsidiary guarantors entered into a registration rights agreement pursuant to which the Company agreed to file a registration statement with respect to an offer to exchange the 2026 Notes for a new issue of substantially identical debt securities registered under the Securities Act. On January 18, 2018, the Company filed a registration statement on Form S-4 with respect to an offer to exchange the 2026 Notes for substantially identical debt securities registered under the Securities Act, which registration statement was declared effective by the SEC on February 12, 2018. The exchange offer relating to the 2026 notes closed on March 22, 2018.
The 2023 Notes, the 2024 Notes, the 2025 Notes and the 2026 Notes are guaranteed on a senior unsecured basis by all existing consolidated subsidiaries that guarantee the Company’s secured revolving credit facility or certain other debt (the “Guarantors”). The 2023 Notes, the 2024 Notes, the 2025 Notes and the 2026 Notes are not guaranteed by Grizzly Holdings, Inc. (the “Non-Guarantor”). The Guarantors are 100% owned by Gulfport (the “Parent”), and the guarantees are full, unconditional, joint and several. There are no significant restrictions on the ability of the Parent or the Guarantors to obtain funds from each other in the form of a dividend or loan.
The following condensed consolidating balance sheets, statements of operations, statements of comprehensive income and statements of cash flows are provided for the Parent, the Guarantors and the Non-Guarantor and include the consolidating adjustments and eliminations necessary to arrive at the information for the Company on a condensed consolidated basis. The information has been presented using the equity method of accounting for the Parent’s ownership of the Guarantors and the Non-Guarantor.
CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
 
June 30, 2018
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
80,605

 
$
38,624

 
$
1

 
$

 
$
119,230

Accounts receivable - oil and natural gas sales
102,746

 
37,463

 

 

 
140,209

Accounts receivable - joint interest and other
24,244

 
29,375

 

 

 
53,619

Accounts receivable - related parties
110

 

 

 

 
110

Accounts receivable - intercompany
628,119

 
258,216

 

 
(886,335
)
 

Prepaid expenses and other current assets
8,308

 
2,390

 

 

 
10,698

Short-term derivative instruments
20,745

 

 

 

 
20,745

Total current assets
864,877

 
366,068

 
1

 
(886,335
)
 
344,611

 
 
 
 
 
 
 
 
 
 
Property and equipment:
 
 
 
 
 
 
 
 
 
Oil and natural gas properties, full-cost accounting
6,921,387

 
2,828,498

 

 
(729
)
 
9,749,156

Other property and equipment
91,156

 
51

 

 

 
91,207

Accumulated depletion, depreciation, amortization and impairment
(4,386,332
)
 
(38
)
 

 

 
(4,386,370
)
Property and equipment, net
2,626,211

 
2,828,511

 

 
(729
)
 
5,453,993

Other assets:
 
 
 
 
 
 
 
 
 
Equity investments and investments in subsidiaries
2,618,091

 

 
49,957

 
(2,449,199
)
 
218,849

Long-term derivative instruments
7,657

 

 

 

 
7,657

Inventories
6,741

 
2,678

 

 

 
9,419

Other assets
13,378

 
6,526

 

 

 
19,904

Total other assets
2,645,867

 
9,204

 
49,957

 
(2,449,199
)
 
255,829

  Total assets
$
6,136,955

 
$
3,203,783

 
$
49,958

 
$
(3,336,263
)
 
$
6,054,433

 
 
 
 
 
 
 
 
 
 
Liabilities and Stockholders Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
421,911

 
$
162,505

 
$

 
$

 
$
584,416

Accounts payable - intercompany
258,218

 
627,989

 
128

 
(886,335
)
 

Asset retirement obligation - current
120

 

 

 

 
120

Short-term derivative instruments
61,161

 

 

 

 
61,161

Current maturities of long-term debt
639

 

 

 

 
639

Total current liabilities
742,049

 
790,494

 
128

 
(886,335
)
 
646,336

Long-term derivative instruments
17,479

 

 

 

 
17,479

Asset retirement obligation - long-term
64,364

 
12,451

 

 

 
76,815

Deferred tax liability
2,965

 

 

 

 
2,965

Other non-current liabilities

 
740

 

 

 
740

Long-term debt, net of current maturities
2,114,899

 

 

 

 
2,114,899

Total liabilities
2,941,756

 
803,685

 
128

 
(886,335
)
 
2,859,234

 
 
 
 
 
 
 
 
 
 
Stockholders’ equity:
 
 
 
 
 
 
 
 
 
Common stock
1,733

 

 

 

 
1,733

Paid-in capital
4,317,391

 
1,915,598

 
260,877

 
(2,176,475
)
 
4,317,391

Accumulated other comprehensive (loss) income
(49,406
)
 

 
(47,287
)
 
47,287

 
(49,406
)
Retained (deficit) earnings
(1,074,519
)
 
484,500

 
(163,760
)
 
(320,740
)
 
(1,074,519
)
Total stockholders’ equity
3,195,199

 
2,400,098

 
49,830

 
(2,449,928
)
 
3,195,199

  Total liabilities and stockholders equity
$
6,136,955

 
$
3,203,783

 
$
49,958

 
$
(3,336,263
)
 
$
6,054,433

CONDENSED CONSOLIDATING BALANCE SHEETS
(Amounts in thousands)
 
December 31, 2017
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
67,908

 
$
31,649

 
$

 
$

 
$
99,557

Accounts receivable - oil and natural gas sales
112,686

 
34,087

 

 

 
146,773

Accounts receivable - joint interest and other
15,435

 
20,005

 

 

 
35,440

Accounts receivable - intercompany
554,439

 
63,374

 

 
(617,813
)
 

Prepaid expenses and other current assets
4,719

 
193

 

 

 
4,912

Short-term derivative instruments
78,847

 

 

 

 
78,847

Total current assets
834,034

 
149,308

 

 
(617,813
)
 
365,529

 
 
 
 
 
 
 
 
 
 
Property and equipment:
 
 
 
 
 
 
 
 
 
Oil and natural gas properties, full-cost accounting,
6,562,147

 
2,607,738

 

 
(729
)
 
9,169,156

Other property and equipment
86,711

 
43

 

 

 
86,754

Accumulated depletion, depreciation, amortization and impairment
(4,153,696
)
 
(37
)
 

 

 
(4,153,733
)
Property and equipment, net
2,495,162

 
2,607,744

 

 
(729
)
 
5,102,177

Other assets:
 
 
 
 
 
 
 
 
 
Equity investments and investments in subsidiaries
2,361,575

 
77,744

 
57,641

 
(2,194,848
)
 
302,112

Long-term derivative instruments
8,685

 

 

 

 
8,685

Deferred tax asset
1,208

 

 

 

 
1,208

Inventories
5,816

 
2,411

 

 

 
8,227

Other assets
12,483

 
7,331

 

 

 
19,814

Total other assets
2,389,767

 
87,486

 
57,641

 
(2,194,848
)
 
340,046

  Total assets
$
5,718,963

 
$
2,844,538

 
$
57,641

 
$
(2,813,390
)
 
$
5,807,752

 
 
 
 
 
 
 
 
 
 
Liabilities and Stockholders Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
416,249

 
$
137,361

 
$

 
$
(1
)
 
$
553,609

Accounts payable - intercompany
63,373

 
554,313

 
127

 
(617,813
)
 

Asset retirement obligation - current
120

 

 

 

 
120

Short-term derivative instruments
32,534

 

 

 

 
32,534

Current maturities of long-term debt
622

 

 

 

 
622

Total current liabilities
512,898

 
691,674

 
127

 
(617,814
)
 
586,885

Long-term derivative instruments
2,989

 

 

 

 
2,989

Asset retirement obligation - long-term
63,141

 
11,839

 

 

 
74,980

Other non-current liabilities

 
2,963

 

 

 
2,963

Long-term debt, net of current maturities
2,038,321

 

 

 

 
2,038,321

Total liabilities
2,617,349


706,476


127


(617,814
)

2,706,138

 
 
 
 
 
 
 
 
 
 
Stockholders’ equity:
 
 
 
 
 
 
 
 
 
Common stock
1,831

 

 

 

 
1,831

Paid-in capital
4,416,250

 
1,915,598

 
259,307

 
(2,174,905
)
 
4,416,250

Accumulated other comprehensive (loss) income
(40,539
)
 

 
(38,593
)
 
38,593

 
(40,539
)
Retained (deficit) earnings
(1,275,928
)
 
222,464

 
(163,200
)
 
(59,264
)
 
(1,275,928
)
Total stockholders’ equity
3,101,614

 
2,138,062

 
57,514

 
(2,195,576
)
 
3,101,614

  Total liabilities and stockholders equity
$
5,718,963

 
$
2,844,538

 
$
57,641

 
$
(2,813,390
)
 
$
5,807,752

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)
 
Three months ended June 30, 2018
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
Total revenues
$
146,774

 
$
105,966

 
$

 
$

 
$
252,740

 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
Lease operating expenses
16,593

 
6,319

 

 

 
22,912

Production taxes
4,793

 
2,866

 

 

 
7,659

Midstream gathering and processing
52,542

 
18,898

 

 

 
71,440

Depreciation, depletion and amortization
121,915

 

 

 

 
121,915

General and administrative
14,975

 
(968
)
 
1

 

 
14,008

Accretion expense
795

 
220

 

 

 
1,015

 
211,613


27,335


1




238,949

 
 
 
 
 
 
 
 
 
 
(LOSS) INCOME FROM OPERATIONS
(64,839
)

78,631


(1
)



13,791

 
 
 
 
 
 
 
 
 
 
OTHER (INCOME) EXPENSE:
 
 
 
 
 
 
 
 
 
Interest expense
34,663

 
(959
)
 

 

 
33,704

Interest income
(27
)
 
(6
)
 

 

 
(33
)
Insurance proceeds
(231
)
 

 

 

 
(231
)
Gain on sale of equity method investments
(25,616
)
 
(96,419
)
 

 

 
(122,035
)
(Income) loss from equity method investments and investments in subsidiaries
(183,901
)
 
(336
)
 
228

 
175,121

 
(8,888
)
Other income
(1,046
)
 
1

 

 
1,000

 
(45
)
 
(176,158
)

(97,719
)

228


176,121


(97,528
)
 
 
 
 
 
 
 
 
 
 
INCOME (LOSS) BEFORE INCOME TAXES
111,319

 
176,350

 
(229
)
 
(176,121
)
 
111,319

INCOME TAX BENEFIT

 

 

 

 

 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS)
$
111,319


$
176,350


$
(229
)

$
(176,121
)

$
111,319

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)

 
Three months ended June 30, 2017
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
Total revenues
$
249,353

 
$
74,600

 
$

 
$

 
$
323,953

 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
Lease operating expenses
16,423

 
4,298

 

 

 
20,721

Production taxes
3,645

 
1,494

 

 

 
5,139

Midstream gathering and processing
42,291

 
16,654

 

 

 
58,945

Depreciation, depletion and amortization
82,245

 
1

 

 

 
82,246

General and administrative
13,052

 
(796
)
 
1

 

 
12,257

Accretion expense
291

 
119

 

 

 
410

Acquisition expense
5

 
1,055

 

 

 
1,060

 
157,952


22,825


1




180,778

 
 
 
 
 
 
 
 
 
 
INCOME (LOSS) FROM OPERATIONS
91,401


51,775


(1
)



143,175

 
 
 
 
 
 
 
 
 
 
OTHER (INCOME) EXPENSE:
 
 
 
 
 
 
 
 
 
Interest expense
26,133

 
(1,945
)
 

 

 
24,188

Interest income
(42
)
 
(6
)
 

 

 
(48
)
Gain on sale of equity method investments
(12,523
)
 

 

 

 
(12,523
)
(Income) loss from equity method investments and investments in subsidiaries
(27,952
)
 
(83
)
 
208

 
53,651

 
25,824

Other income
(151
)
 
(51
)
 

 

 
(202
)
 
(14,535
)
 
(2,085
)
 
208

 
53,651

 
37,239

 
 
 
 
 
 
 
 
 
 
INCOME (LOSS) BEFORE INCOME TAXES
105,936


53,860


(209
)

(53,651
)

105,936

INCOME TAX EXPENSE

 

 

 

 

 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS)
$
105,936

 
$
53,860

 
$
(209
)
 
$
(53,651
)
 
$
105,936

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)

 
Six months ended June 30, 2018
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
Total revenues
$
360,335

 
$
217,797

 
$

 
$

 
$
578,132

 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
Lease operating expenses
30,424

 
11,394

 

 

 
41,818

Production taxes
8,804

 
5,709

 

 

 
14,513

Midstream gathering and processing
98,208

 
37,425

 

 

 
135,633

Depreciation, depletion, and amortization
232,932

 
1

 

 

 
232,933

General and administrative
28,786

 
(1,681
)
 
2

 

 
27,107

Accretion expense
1,585

 
434

 

 

 
2,019

 
400,739

 
53,282

 
2

 

 
454,023

 
 
 
 
 
 
 
 
 
 
INCOME (LOSS) FROM OPERATIONS
(40,404
)
 
164,515

 
(2
)
 

 
124,109

 
 
 
 
 
 
 
 
 
 
OTHER (INCOME) EXPENSE:
 
 
 
 
 
 
 
 
 
Interest expense
69,056

 
(1,387
)
 

 

 
67,669

Interest income
(58
)
 
(12
)
 

 

 
(70
)
Insurance proceeds
(231
)
 

 

 

 
(231
)
Gain on sale of equity method investments
(25,616
)
 
(96,419
)
 

 

 
(122,035
)
(Income) loss from equity method investments and investments in subsidiaries
(283,765
)
 
(693
)
 
558

 
261,476

 
(22,424
)
Other (income) expense
(1,130
)
 
(10
)
 

 
1,000

 
(140
)
 
(241,744
)
 
(98,521
)
 
558

 
262,476

 
(77,231
)
 
 
 
 
 
 
 
 
 
 
INCOME (LOSS) BEFORE INCOME TAXES
201,340

 
263,036

 
(560
)
 
(262,476
)
 
201,340

INCOME TAX BENEFIT
(69
)
 

 

 

 
(69
)
 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS)
$
201,409

 
$
263,036

 
$
(560
)
 
$
(262,476
)
 
$
201,409

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Amounts in thousands)

 
Six months ended June 30, 2017
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
Total revenues
$
521,794

 
$
135,163

 
$

 
$

 
$
656,957

 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
Lease operating expenses
33,872

 
6,152

 

 

 
40,024

Production taxes
6,747

 
2,298

 

 

 
9,045

Midstream gathering and processing
80,015

 
26,871

 

 

 
106,886

Depreciation, depletion, and amortization
148,235

 
2

 

 

 
148,237

General and administrative
25,926

 
(1,071
)
 
2

 

 
24,857

Accretion expense
573

 
119

 

 

 
692

Acquisition expense
5

 
2,353

 

 

 
2,358

 
295,373

 
36,724

 
2

 

 
332,099

 
 
 
 
 
 
 
 
 
 
INCOME (LOSS) FROM OPERATIONS
226,421

 
98,439

 
(2
)
 

 
324,858

 
 
 
 
 
 
 
 
 
 
OTHER (INCOME) EXPENSE:
 
 
 
 
 
 
 
 
 
Interest expense
51,181

 
(3,514
)
 

 

 
47,667

Interest income
(884
)
 
(6
)
 

 

 
(890
)
Gain on sale of equity method investments
(12,523
)
 

 

 

 
(12,523
)
(Income) loss from equity method investments and investments in subsidiaries
(70,566
)
 
2,458

 
573

 
98,266

 
30,731

Other (income) expense
(1,178
)
 
(240
)
 

 
900

 
(518
)
 
(33,970
)
 
(1,302
)
 
573

 
99,166

 
64,467

 
 
 
 
 
 
 
 
 
 
INCOME (LOSS) BEFORE INCOME TAXES
260,391

 
99,741

 
(575
)
 
(99,166
)
 
260,391

INCOME TAX EXPENSE

 

 

 

 

 
 
 
 
 
 
 
 
 
 
NET INCOME (LOSS)
$
260,391

 
$
99,741

 
$
(575
)
 
$
(99,166
)
 
$
260,391

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Amounts in thousands)
 
Three months ended June 30, 2018
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
111,319

 
$
176,350

 
$
(229
)
 
$
(176,121
)
 
$
111,319

Foreign currency translation adjustment
(3,364
)
 
14

 
(3,378
)
 
3,364

 
(3,364
)
Other comprehensive (loss) income
(3,364
)
 
14

 
(3,378
)
 
3,364

 
(3,364
)
Comprehensive income (loss)
$
107,955

 
$
176,364

 
$
(3,607
)
 
$
(172,757
)
 
$
107,955

 
Three months ended June 30, 2017
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
105,936

 
$
53,860

 
$
(209
)
 
$
(53,651
)
 
$
105,936

Foreign currency translation adjustment
4,514

 
19

 
4,495

 
(4,514
)
 
4,514

Other comprehensive income (loss)
4,514

 
19

 
4,495

 
(4,514
)
 
4,514

Comprehensive income (loss)
$
110,450

 
$
53,879

 
$
4,286

 
$
(58,165
)
 
$
110,450

 
Six months ended June 30, 2018
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
201,409

 
$
263,036

 
$
(560
)
 
$
(262,476
)
 
$
201,409

Foreign currency translation adjustment
(8,867
)
 
(173
)
 
(8,694
)
 
8,867

 
(8,867
)
Other comprehensive (loss) income
(8,867
)
 
(173
)
 
(8,694
)
 
8,867

 
(8,867
)
Comprehensive income (loss)
$
192,542

 
$
262,863

 
$
(9,254
)
 
$
(253,609
)
 
$
192,542

 
Six months ended June 30, 2017
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
Net income (loss)
$
260,391

 
$
99,741

 
$
(575
)
 
$
(99,166
)
 
$
260,391

Foreign currency translation adjustment
5,887

 
74

 
5,813

 
(5,887
)
 
5,887

Other comprehensive income (loss)
5,887

 
74

 
5,813

 
(5,887
)
 
5,887

Comprehensive income (loss)
$
266,278

 
$
99,815

 
$
5,238

 
$
(105,053
)
 
$
266,278

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(Amounts in thousands)
 
Six months ended June 30, 2018
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
Net cash provided by operating activities
$
370,965

 
$
40,078

 
$

 
$
1

 
$
411,044

 
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by investing activities
(327,362
)
 
(33,103
)
 
(1,569
)
 
1,569

 
(360,465
)
 
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by financing activities
(30,906
)
 

 
1,570

 
(1,570
)
 
(30,906
)
 
 
 
 
 
 
 
 
 
 
Net increase in cash, cash equivalents and restricted cash
12,697

 
6,975

 
1

 

 
19,673

 
 
 
 
 
 
 
 
 
 
Cash, cash equivalents and restricted cash at beginning of period
67,908

 
31,649

 

 

 
99,557

 
 
 
 
 
 
 
 
 
 
Cash, cash equivalents and restricted cash at end of period
$
80,605

 
$
38,624

 
$
1

 
$

 
$
119,230


 
Six months ended June 30, 2017
 
Parent
 
Guarantors
 
Non-Guarantor
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) operating activities
$
268,068

 
$
18,585

 
$
1

 
$
(1
)
 
$
286,653

 
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by investing activities
(1,854,539
)
 
(1,362,222
)
 
(1,151
)
 
1,388,288

 
(1,829,624
)
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) financing activities
199,651

 
1,387,137

 
1,150

 
(1,388,287
)
 
199,651

 
 
 
 
 
 
 
 
 
 
Net (decrease) increase in cash, cash equivalents and restricted cash
(1,386,820
)
 
43,500

 

 

 
(1,343,320
)
 
 
 
 
 
 
 
 
 
 
Cash, cash equivalents and restricted cash at beginning of period
1,458,882

 
1,993

 

 

 
1,460,875

 
 
 
 
 
 
 
 
 
 
Cash, cash equivalents and restricted cash at end of period
$
72,062

 
$
45,493

 
$

 
$

 
$
117,555