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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating revenues      
Interest income related parties – direct financing leases $ 3,796 $ 9,623 $ 16,362
Interest income other – sales-type, direct financing leases and leaseback assets 56,524 30,055 21,903
Service revenue related parties – direct financing leases 9,855 22,095 35,010
Profit sharing revenues – related parties 5,615 1,779 5,753
Profit sharing revenues – other 0 0 61
Time charter revenues – related parties 51,132 53,258 51,832
Time charter revenues – other 288,019 239,468 186,577
Bareboat charter revenues – related parties 0 0 5,736
Bareboat charter revenues – other 23,490 36,222 34,860
Voyage charter revenues – other 17,617 24,339 21,037
Other operating income 2,801 1,873 1,747
Total operating revenues 458,849 418,712 380,878
Gain/(Loss) on sale of assets and termination of charters, net 0 (2,578) 1,124
Gain/(Loss) on sale of subsidiaries and disposal groups 0 7,613 0
Operating expenses      
Vessel operating expenses – related parties 33,092 45,266 57,714
Vessel operating expenses – other 101,342 83,282 74,080
Depreciation 116,381 104,079 88,150
Vessel impairment charge 60,054 64,338 0
Administrative expenses – related parties 1,484 1,072 831
Administrative expenses – other 8,719 8,095 6,601
Total operating expenses 321,072 306,132 227,376
Net operating income 137,777 117,615 154,626
Non-operating income / (expense)      
Interest income – related parties, long term loans to associated companies 14,128 14,128 15,265
Interest income – related parties, other 1,642 880 422
Interest income – other 4,294 2,943 3,643
Interest expense – related parties (0) (6,378) (0)
Interest expense – other (145,058) (107,508) (90,414)
Gain/(Loss) on purchase of bonds 1,802 1,146 (2,305)
Dividend income – related parties 2,590 0 3,300
Gain/(Loss) on investments in debt and equity securities 67,701 25,754 (4,410)
Other financial items, net (12,753) 10,407 (2,684)
Net income before equity in earnings of associated companies 72,123 58,987 77,443
Equity in earnings of associated companies 17,054 14,635 23,766
Net income $ 89,177 $ 73,622 $ 101,209
Per share information:      
Basic earnings per share (in dollars per share) $ 0.83 $ 0.70 $ 1.06
Weighted average number of shares outstanding, basic (in shares) 107,614 105,898 95,597
Diluted earnings per share (in dollars per share) $ 0.83 $ 0.69 $ 1.03
Weighted average number of shares outstanding, diluted (in shares) 107,696 107,606 102,900
Cash dividend per share declared and paid (in dollars per share) $ 1.40 $ 1.40 $ 1.60