| Adjustments to Prior Periods due to New Accounting Standards |
The following is a summary of the impact of adopting the new statement of cash flows guidance on the Company’s consolidated statements of cash flows:
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Year ended December 31, 2017 |
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Previously
Reported
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|
Adjustments |
|
Revised |
Net cash provided by operating activities(1)
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|
$ |
116,062 |
|
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$ |
49,111 |
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$ |
165,173 |
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Net cash used in investing activities(2)
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(182,695 |
) |
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(13,287 |
) |
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(195,982 |
) |
Net cash provided by (used in) financing activities(1)
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|
68,944 |
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(49,111 |
) |
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19,833 |
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Effect of exchange rate changes on cash, cash equivalents and restricted cash |
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(6,858 |
) |
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— |
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|
(6,858 |
) |
Net change in cash, cash equivalents and restricted cash(2)
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(4,547 |
) |
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(13,287 |
) |
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(17,834 |
) |
Cash, cash equivalents and restricted cash at beginning of period(2)
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70,742 |
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14,335 |
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85,077 |
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Cash, cash equivalents and restricted cash at end of period(2)
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$ |
66,195 |
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$ |
1,048 |
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$ |
67,243 |
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Year ended December 31, 2016 |
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Previously
Reported
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Adjustments |
|
Revised |
Net cash provided by operating activities(1)
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$ |
119,720 |
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$ |
2,988 |
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$ |
122,708 |
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Net cash provided by (used in) investing activities(2)
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(1,929,680 |
) |
|
13,917 |
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(1,915,763 |
) |
Net cash provided by (used in) financing activities(1)
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1,861,433 |
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(2,988 |
) |
|
1,858,445 |
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Effect of exchange rate changes on cash, cash equivalents and restricted cash |
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(5,886 |
) |
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— |
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(5,886 |
) |
Net change in cash, cash equivalents and restricted cash(2)
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45,587 |
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13,917 |
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59,504 |
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Cash, cash equivalents and restricted cash at beginning of period(2)
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25,155 |
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|
418 |
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25,573 |
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Cash, cash equivalents and restricted cash at end of period(2)
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$ |
70,742 |
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$ |
14,335 |
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$ |
85,077 |
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(1)
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Adjustments include the reclassification of $47,875 in debt prepayment penalties for the year ended December 31, 2017, which were paid in cash, that were associated with the Company’s repricing and refinancing activities. The adjustments also include the reclassification of $1,236 and $2,988 in third-party lender fees for the years ended December 31, 2017 and 2016, respectively, associated with the Company’s repricing and refinancing activities that were paid in cash. In accordance with the August 2016 guidance which clarifies the classification of certain cash receipts and cash payments in the statement of cash flows, the amounts were reclassified from net cash provided by operating activities to net cash provided by (used in) financing activities.
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(2) |
In accordance with the November 2016 guidance that clarified the classification and presentation of changes in restricted cash on the statement of cash flows, the Company reclassified the changes in restricted cash for the respective periods from cash from investing activities to the cash, cash equivalents and restricted cash line item. |
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