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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income/(loss) $ 164,343 $ (224,425) $ 89,177
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:      
Depreciation 138,330 111,279 116,381
Amortization of deferred charges 6,704 9,040 8,085
Amortization of seller's credit 0 0 (103)
Amortization of deferred charter revenue 6,672 6,641 5,406
Vessel impairment charge 1,927 333,149 60,054
Long-term assets impairment charge 0 0 9,168
Adjustment of derivatives to fair value recognized in net income (11,591) 20,432 3,449
(Gain)/loss on investments in debt and equity securities (995) 22,453 (67,701)
Equity in earnings of associated companies (4,194) (4,286) (17,054)
Gain on sale of assets (39,405) (2,250) 0
Gain on sale of subsidiaries 0 (1,894) 0
Repayments from investment in sales-type, direct financing and leaseback assets 36,276 60,590 44,143
Loss/(gain) on repurchase of bonds 727 (67,533) (1,802)
Loss on early termination of swaps 0 4,538 0
Other, net 1,072 (6,559) (4,620)
Changes in operating assets and liabilities      
Trade accounts receivable (4,073) (2,352) (1,608)
Due to/ from related parties (4,317) 21,035 5,652
Other receivables and other current assets 6,518 (2,628) (7,088)
Inventories (1,315) (873) 613
Prepaid expenses and accrued income (3,806) (962) 958
Trade accounts payable 447 (2,198) 1,500
Accrued expenses and other current liabilities 275 3,278 5,097
Net cash provided by operating activities 293,595 276,475 249,707
Investing activities      
Additions to newbuildings and vessel purchase deposits (61,351) 0 0
Additions to direct financing leases and leaseback assets 0 (65,030) (211,065)
Purchase of vessels, capital improvements and other additions (520,271) (55,016) (39,326)
Proceeds from sale of vessels 183,886 210,920 0
Proceeds from sale of subsidiaries, net of cash disposed of 0 14,676 0
Net amounts received from associated companies 9,998 31,467 15,925
Proceeds from sale of equity securities 0 23,661 82,783
Other investments and long-term assets, net (1,312) 15,661 (18,198)
Net cash (used in)/provided by investing activities (389,050) 176,339 (169,881)
Financing activities      
Repayments of lease obligation liability (48,887) (68,599) (63,663)
Proceeds from issuance of short-term and long-term debt 586,750 397,231 458,781
Repayments of short-term and long-term debt (301,451) (624,588) (208,538)
Repurchase and redemption of bonds (215,098) (66,570) (80,749)
Discount received on debt repurchased 0 0 1,654
Debt fees paid (8,025) (4,752) (4,261)
Payment for early settlements of interest rate swaps, net 0 (4,539) 0
Principal settlements of cross currency swaps, net 0 (11,706) (41,769)
Proceeds from shares issued, net of issuance costs 89,280 61,485 0
Cash dividends paid (77,552) (109,394) (150,659)
Net cash provided by/(used in) financing activities 25,017 (431,432) (89,204)
Net change in restricted cash and cash and cash equivalents (70,438) 21,382 (9,378)
Cash, restricted cash and cash equivalents at start of the year 224,398 203,016 212,394
Cash, restricted cash and cash equivalents at end of the year 153,960 224,398 203,016
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Cash and cash equivalents 145,622 215,445 199,521
Restricted cash 8,338 8,953 3,495
Cash, restricted cash and cash equivalents at end of the year 153,960 224,398 203,016
Supplemental disclosure of cash flow information:      
Interest paid, net of capitalized interest $ 70,979 $ 71,476 $ 72,344