Quarterly report pursuant to Section 13 or 15(d)

Condensed Combined Statements of Cash Flows

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Condensed Combined Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net earnings (loss) $ (22,241) $ 5,318
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Depreciation and amortization 986 3,244
Stock-based compensation 1,622 1,355
Excess tax benefit from stock-based compensation   (2,001)
Share of earnings (losses) of affiliates 70,278 43,050
Realized and unrealized (gains) losses on financial instruments, net (45,005) 1,329
(Gain) loss on dilution of investment in affiliate 1,724 410
Deferred Income Tax Expense (Benefit) (12,732) (22,721)
Other, net 59 (586)
Changes in operating assets and liabilities:    
Current and other assets 8,302 (89,602)
Payables and other liabilities (3,811) 75,126
Net cash provided by operating activities (818) 14,922
Cash flows from investing activities:    
Capital expended for property and equipment (20) (75)
Purchases of short term investments and other marketable securities 77,685 3
Sales of short term investments and other marketable securities 9,014  
Other investing activities, net 253  
Net cash used in investing activities (68,438) (78)
Cash flows from financing activities:    
Cash received from rights offering   697,309
Borrowings of debt 200,000 30,158
Repayments of debt   (30,158)
Excess Tax Benefit from Share-based Compensation, Financing Activities   2,001
Other financing activities, net (683) 4,164
Net cash provided by (used in) financing activities 199,317 703,474
Net increase in cash 130,061 718,318
Cash and cash equivalents, beginning of period 655,079 44,809
Cash and cash equivalents, end of period $ 785,140 $ 763,127