XML 18 R3.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating revenues      
Interest income related parties – direct financing leases $ 1,500 $ 1,744 $ 3,796
Interest income other – sales-type, direct financing leases and leaseback assets 18,024 69,472 56,524
Service revenue related parties – direct financing leases 6,570 6,903 9,855
Profit sharing revenues – related parties 10,103 18,677 5,615
Profit sharing income – other 10,601 3,892 0
Time charter revenues – related parties 50,463 51,954 51,132
Time charter revenues – other 319,282 268,635 288,019
Bareboat charter revenues – related parties 28,898 0 0
Bareboat charter revenues – other 1,798 7,863 23,490
Voyage charter revenues – other 61,804 37,287 17,617
Other operating income 4,353 4,620 2,801
Total operating revenues 513,396 471,047 458,849
Gain on sale of assets, net 39,405 2,250 0
Operating expenses      
Vessel operating expenses – related parties 28,623 30,276 33,092
Vessel operating expenses – other 128,109 125,367 101,342
Depreciation 138,330 111,279 116,381
Vessel impairment charge 1,927 333,149 60,054
Administrative expenses – related parties 740 1,178 1,484
Administrative expenses – other 12,234 10,222 8,719
Total operating expenses 309,963 611,471 321,072
Net operating income/(loss) 242,838 (138,174) 137,777
Non-operating income / (expense)      
Interest income – related parties, long term loans to associated companies 6,921 11,925 14,128
Interest income – related parties, other 443 599 1,642
Interest income – other 86 876 4,294
Interest expense – other (97,090) (135,442) (145,058)
Gain/(loss) on investments in debt and equity securities 995 (22,453) 67,701
(Loss)/gain on purchase of bonds and debt extinguishment (727) 67,533 1,802
Gain on settlement of related party loan notes 0 4,446 0
Dividend income – related parties 0 6,030 2,590
Gain on sale of subsidiaries, non-operating 0 1,894 0
Other financial items, net 6,683 (25,945) (12,753)
Net income/(loss) before equity in earnings of associated companies 160,149 (228,711) 72,123
Equity in earnings of associated companies 4,194 4,286 17,054
Net income/(loss) $ 164,343 $ (224,425) $ 89,177
Per share information:      
Basic earnings/(loss)per share (in dollars per share) $ 1.35 $ (2.06) $ 0.83
Weighted average number of shares outstanding, basic (in shares) 122,141 108,972 107,614
Diluted earnings/(loss) per share (in dollars per share) $ 1.30 $ (2.06) $ 0.83
Weighted average number of shares outstanding, diluted (in shares) 139,383 108,972 107,696
Cash dividend per share declared and paid (in dollars per share) $ 0.63 $ 1.00 $ 1.40