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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities      
Net Income (Loss) $ 50,033 $ (10,352) $ (95,306)
Reconciliation of Net Loss to Net Cash Provided by Operating Activities      
Depreciation Expense 67,834 63,965 60,695
Impairment Loss on Vessels 0 0 2,168
Loss on Disposal of Vessels 0 0 6,619
Equity Loss from Associate 0 0 7,667
Change in Fair Value of Investment Securities 224 3,160 0
Drydock Expenditure (21,045) (4,158) (5,210)
Amortization of Deferred Finance Costs 4,354 4,291 15,350
Deferred Compensation Liabilities (71) (10,970) (860)
Share-based Compensation 285 156 413
Other, net (739) (66) 21
Changes in Operating Assets and Liabilities      
Accounts Receivables 18,109 (1,989) (357)
Accounts Receivables, Related Party 0 0 237
Inventory 3,068 (2,184) 2,794
Prepaid Expenses and Other Current Assets (330) (1,068) 1,837
Accounts Payable and Accrued Liabilities (19,258) 10,122 (7,112)
Voyages in Progress 8,480 1,951 (5,059)
Net Cash Provided by / (Used In) Operating Activities 110,944 52,858 (16,103)
Cash Flows from Investing Activities      
Investment in Vessels (6,845) (2,531) (4,810)
Investment in Other Fixed Assets (233) 0 (60)
Investment in Vessels under Construction (11,000) 0 0
Sale of Vessels 0 0 89,624
Proceeds from Sale of Investment Securities 602 212 0
Dividends received from Associate 0 0 300
Net Cash (Used In) / Provided by Investing Activities (17,476) (2,319) 85,054
Cash Flows from Financing Activities      
Proceeds from Issuance of Common Stock 20,713 17,922 0
Proceeds from Vessel Financing 2018-built Vessels 0 0 12,505
Proceeds from Borrowing Activities 29,300 300,000 0
Repayments on prior $500 million Credit Facility 0 (313,400) (78,242)
Repayment of Vessel financing 2018-built Vessels (7,630) (7,273) (2,361)
Repayments on Borrowing Facility (67,896) (14,324) 0
Transaction Costs Borrowing Facilities (320) (6,921) 0
Dividends Distributed (67,242) (14,255) (9,936)
Net Cash Used In Financing Activities (93,075) (38,251) (78,034)
Net Increase / (Decrease) in Cash, Cash Equivalents, and Restricted Cash 393 12,288 (9,083)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year 61,638 49,327 58,359
Effect of Exchange Rate Changes on Cash and Cash Equivalents 39 23 51
Cash, Cash Equivalents, and Restricted Cash at End of Year 62,070 61,638 49,327
Supplemental Disclosure of Cash Flow information      
Cash and Cash Equivalents 57,847 48,847 49,327
Restricted cash 4,223 12,791 0
Cash Paid for Taxes 71 79 83
Cash Paid for Interest, Net of Amounts Capitalized $ 27,128 $ 35,616 $ 32,300