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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating revenues      
Time charter revenues $ 619,384 $ 544,434 $ 475,988
Voyage charter and pool revenues 18,909 33,648 72,362
Bareboat charter revenues 0 0 58,953
Drilling contract revenues 236,650 146,890 18,775
Interest income – sales-type, direct financing leases and leaseback assets 2,439 6,192 8,916
Service revenues – direct financing leases 0 0 1,746
Profit sharing revenues 16,679 13,162 27,830
Other operating income 10,343 7,960 5,823
Total operating revenues 904,404 752,286 670,393
Gain on sale of assets and termination of charters, net 5,374 18,670 13,228
Operating expenses      
Vessel and rig operating expenses 343,303 293,756 205,143
Depreciation 239,181 214,062 187,827
Vessel impairment charge 0 7,389 0
Administrative expenses 20,577 15,565 15,177
Total operating expenses 603,061 530,772 408,147
Net operating income 306,717 240,184 275,474
Non-operating income / (expense)      
Interest income – long term loans to associated companies 4,576 4,563 4,563
Interest income – other 9,189 9,073 3,410
Interest expense (182,985) (167,010) (117,339)
(Loss)/gain on investments in debt and equity securities (854) (1,912) 18,171
Loss on purchase of bonds and debt extinguishment (1,317) (540) 0
Dividend income 645 1,246 128
Other financial items, net 2,515 (1,192) 15,528
Equity in earnings of associated companies 2,798 2,848 2,833
Income before taxes 141,284 87,260 202,768
Tax expense (10,631) (3,323) 0
Net income $ 130,653 $ 83,937 $ 202,768
Per share information:      
Basic earnings per share (in dollars per share) $ 1.01 $ 0.67 $ 1.60
Weighted average number of shares outstanding, basic (in shares) 129,391 126,249 126,789
Diluted earnings per share (in dollars per share) $ 1.01 $ 0.66 $ 1.53
Weighted average number of shares outstanding, diluted (in shares) 130,000 126,584 137,377
Cash dividend per share declared and paid (in dollars per share) $ 1.07 $ 0.97 $ 0.88