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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (120,350) $ (7,801)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 17,574 18,076
Amortization of deferred financing costs 951 915
Noncash operating lease expense 337 285
Amortization of nonvested stock compensation expense 481 452
Impairment of vessel assets 112,814 0
Loss (gain) on sale of vessels 486 (611)
Insurance proceeds for protection and indemnity claims 101 226
Change in assets and liabilities:    
(Increase) decrease in due from charterers (1,303) 5,041
(Increase) decrease in prepaid expenses and other current assets (1,074) 927
Increase in inventories (2,134) (1,077)
Decrease in accounts payable and accrued expenses (9,916) (2,114)
Increase (decrease) in deferred revenue 1,191 (1,907)
Decrease in operating lease liabilities (412) (390)
Deferred drydock costs incurred (2,784) (410)
Net cash (used in) provided by operating activities (4,038) 11,612
Cash flows from investing activities:    
Purchase of vessels and ballast water treatment systems, including deposits (273) (3,406)
Purchase of scrubbers (capitalized in Vessels) (7,778) (5,868)
Purchase of other fixed assets (1,039) (1,199)
Net proceeds from sale of vessels 14,510 6,351
Insurance proceeds for hull and machinery claims 157  
Net cash provided by (used in) investing activities 5,577 (4,122)
Cash flows from financing activities:    
Payment of common stock issuance costs   (105)
Cash dividends paid (7,290)  
Payment of deferred financing costs   (591)
Net cash used in financing activities (14,280) (17,276)
Net decrease in cash, cash equivalents and restricted cash (12,741) (9,786)
Cash, cash equivalents and restricted cash at beginning of period 162,249 202,761
Cash, cash equivalents and restricted cash at end of period 149,508 192,975
Secured Debt | $108 Million Credit Facility    
Cash flows from financing activities:    
Repayment of secured debt (1,580) (1,580)
Secured Debt | $495 Million Credit Facility    
Cash flows from financing activities:    
Proceeds from credit facility 11,250  
Repayment of secured debt $ (16,660) $ (15,000)