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Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Vessel revenues $ 158,466 $ 190,436 $ 446,382
Non-vessel revenues 32,946 33,863 29,688
Revenues 191,412 224,299 476,070
Costs and expenses:      
Operating expenses 120,537 131,658 219,260
Depreciation 98,733 93,071 82,566
Amortization 13,168 20,485 26,463
General and administrative expenses 47,597 43,358 48,297
Costs and Expenses, Total 280,035 288,572 376,586
Gain (loss) on sale of assets (121) 54 44,060
Operating income (loss) (88,744) (64,219) 143,544
Gain on early extinguishment of debt 15,478 0 0
Other income (expense):      
Interest income 2,203 1,490 1,525
Interest expense (51,364) (48,675) (39,496)
Other income (expense), net (396) 2,052 1,005
Nonoperating Income (Expense) (34,079) (45,133) (36,966)
Income (Loss) before Income Taxes (122,823) (109,352) 106,578
Income tax expense (benefit) (150,244) (45,506) 39,757
Net income (loss) $ 27,421 $ (63,846) $ 66,821 [1]
Basic earnings (loss) per common share $ 0.74 $ (1.76) $ 1.87
Diluted earnings (loss) per common share $ 0.73 $ (1.76) $ 1.84
Weighted average basic shares outstanding 36,858 36,248 35,755
Weighted average diluted shares outstanding 37,664 36,248 36,302
[1] The Company's net income for 2017 was favorably impacted by U.S. tax reform legislation that was enacted in December 2017. As a result of tax reform, the Company recorded a benefit of $125,225 related to the repricing of its deferred tax liabilities. Such benefits were reduced primarily by tax expense related to credits that may not be utilized prior to their expiration. Excluding these one-time tax items from the Company's December 31, 2017 results, its net loss would have been $(82,687) or $(2.24) per diluted share for the year ended December 31, 2017. See Note 9 for further information.