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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net Loss $ (10,352) $ (95,306) $ (204,969)
Reconciliation of Net Loss to Net Cash Provided by Operating Activities      
Depreciation Expense 63,965 60,695 100,669
Impairment Loss on Vessels 0 2,168 110,480
Impairment Loss on Goodwill 0 0 18,979
Loss on Disposal of Vessels 0 6,619 0
Equity Loss from Associate 0 7,667 8,435
Change in Fair Value of Investment Securities 3,160    
Drydock Expenditure (4,158) (5,210) (18,776)
Amortization of Deferred Finance Costs 4,291 15,350 1,393
Deferred Compensation Liabilities (10,970) (860) 1,303
Share-based Compensation 156 413 522
Other, net (66) 21 (163)
Changes in Operating Assets and Liabilities      
Accounts Receivables (1,989) (357) (4,258)
Accounts Receivables, Related Party 0 237 (145)
Inventory (2,184) 2,794 (2,200)
Prepaid Expenses and Other Current Assets (1,068) 1,837 (904)
Accounts Payable and Accrued Liabilities 10,122 (7,112) 1,072
Voyages in Progress 1,951 (5,059) 20,303
Net Cash Provided by / (Used In) Operating Activities 52,858 (16,103) 31,741
Cash Flows from Investing Activities      
Investment in Vessels (2,531) (4,810) (37,567)
Investment in Other Fixed Assets 0 (60) 0
Sale of Vessels 0 89,624 0
Proceeds from Sale of Investment Securities 212 0 0
Investments in Associate 0 0 (10,000)
Dividends received from Associate 0 300 1,041
Net Cash (Used In) / Provided by Investing Activities (2,319) 85,054 (46,526)
Cash Flows from Financing Activities      
Proceeds from Issuance of Common Stock 17,922 0 103,748
Proceeds from Vessel Financing Newbuildings 0 12,505 0
Proceeds from Borrowing Activities 300,000 0 0
Repayments on Credit Facility (313,400) (78,242) (55,359)
Repayment of Vessel financing 2018 Newbuildings (7,273) (2,361) 0
Repayments of Borrowing Facility (14,324) 0 0
Transaction Costs Borrowing Facilities (6,921) 0 (13,125)
Dividends Distributed (14,255) (9,936) (54,226)
Net Cash (Used In) / Provided by Financing Activities (38,251) (78,034) (18,962)
Net Increase / (Decrease) in Cash, Cash Equivalents, and Restricted Cash 12,288 (9,083) (33,747)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 49,327 58,359 92,170
Effect of Exchange Rate Changes on Cash and Cash Equivalents 23 51 (64)
Cash, Cash Equivalents, and Restricted Cash at End of Year 61,638 49,327 58,359
Supplemental Disclosure of Cash Flow information      
Cash and Cash Equivalents 48,847 49,327 58,359
Restricted cash 12,791 0 0
Cash Paid for Taxes 79 83 102
Fair Value of Shares Distributed as Dividend in Kind 0 0 4,910
Cash Paid for Interest, Net of Amounts Capitalized $ 35,616 $ 32,300 $ 19,476