Marine Transport Ltd.'s statement of cash flows, as adapted, appears as follows:

Requirement
As a member of an investment club, you have been asked to review Marine Transport's major investing activities during 2014. Compare the company's level of investment with the previous year, and indicate how the company financed its investments during 2014.

Transcribed Image Text:

Marine Transport Ltd. Consolidated Statement of Cash Flows For the Years Ended December 31 (Stated in thousands of Canadian dollars) 2014 2013 Cash flows from (used in): Operating activities: Net earnings $192,833 $114,676 Items not involving cash: Depreciation and amort Amortization of other liabilities Amortization of hedge settlements Net realized loss on cash flow hedge Loss on derecognition of property and equipment and 127,223 (897) 1,400 18 111,442 (868) 1,427 ship parts Stock-based compensation expense Future income tax expense Unrealized foreign exchange loss (gain) Decrease in non-cash working capital 32,773 20,058 41,775 13,813 112,069 541,065 394 21,205 46,635 (346) 43,707 338,272 Financing activities: Increase in long-term debt Repayment of long-term debt Decrease in obligations under capital lease Share issuance costs Shares repurchased Issuance of common shares Increase in other assets Increase in non-cash working capital 141,178 418,581 (156,516) (32,559) (480) (10) (356) (21,250) (20,897) (59,290) 1,551 (27,830) (3.000) .0 256,631 Investing activities Ship additions Ship disposals Other property and equipment additi Other property and equipment disposals (191,437) (438,906) 3,822 (43,590) 1,975 (24,639) 13,819 200,282) (477,063) 117,840 Cash flow from Effect of exchange rate on cash Net change in cash Cash, beginning of year Cash, end of year Cash is defined as cash and cash equivalents. operating, financing, and in 281,493 (5,452) 276,041 vesting activi ties. 117,877 377,517259,64O $377,517 $653,558