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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net income $ 130,653 $ 83,937 $ 202,768
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 239,181 214,062 187,827
Amortization of deferred charges 7,580 7,731 7,209
Amortization of deferred charter revenue (1,062) (1,428) 3,282
Vessel impairment charge 0 7,389 0
Adjustment of derivatives to fair value recognized in net income 4,708 8,374 (17,142)
(Gain)/loss on investments in debt and equity securities 854 1,912 (18,171)
Equity in earnings of associated companies (2,798) (2,848) (2,833)
Gain on sale of assets (5,374) (18,670) (13,228)
Repayments from investment in sales-type, direct financing and leaseback assets 8,640 13,906 17,025
Loss on repurchase of bonds 1,317 540 0
Other, net (1,401) 2,013 1,381
Changes in operating assets and liabilities      
Trade accounts receivable 4,302 (20,941) (9,033)
Due to/ from related parties (3,194) 1,821 4,836
Other current assets (31,151) (3,127) (11,026)
Inventories (5,657) 4,666 (6,271)
Prepaid expenses and accrued income (2,026) 638 (10,725)
Trade accounts payable 4,045 22,372 6,118
Accrued expenses and other current liabilities 21,244 20,742 13,108
Net cash provided by operating activities 369,861 343,089 355,125
Investing activities      
Purchase of vessels, capital improvements and other additions (644,859) (264,418) (602,499)
Proceeds from sale of vessels 22,744 156,200 83,333
Net amounts received from associated companies 2,810 2,919 2,916
Proceeds from redemption of debt and equity securities 0 0 14,989
Collateral deposits received on swap agreements 2,100 1,680 2,173
Other investments and long-term assets, net (300) (275) 0
Net cash used in investing activities (617,505) (103,894) (499,088)
Financing activities      
Repayments of lease obligation liability (419,341) (53,654) (51,204)
Proceeds from issuance of short-term and long-term debt 1,398,389 944,585 959,595
Repayments of short-term and long-term debt (556,730) (781,122) (611,310)
Repurchase of bonds (133,117) (205,848) 0
Debt fees paid (13,723) (12,448) (7,142)
Principal settlements of cross currency swaps, net (16,534) (20,412) 0
Cash received/(paid) for shares issued or repurchased 96,250   0
Cash received/(paid) for shares issued or repurchased   (10,174)  
Cash dividends paid (138,491) (122,992) (111,574)
Net cash provided by/(used in) financing activities 216,703 (262,065) 178,365
Net change in cash and cash equivalents (30,941) (22,870) 34,402
Cash and cash equivalents at start of the year 165,492 188,362 153,960
Cash and cash equivalents at end of the year 134,551 165,492 188,362
Cash and cash equivalents:      
Cash and cash equivalents 134,551 165,492 188,362
Cash and cash equivalents at end of the year 134,551 165,492 188,362
Supplemental disclosure of cash flow information:      
Interest paid on debt, swaps and leases, net of capitalized interest 161,237 148,505 109,682
Taxes paid $ 8,294 $ 1,986 $ 0