Other long-term liabilities

12 Months Ended

Dec. 31, 2018

Other Liabilities Disclosure [Abstract]

11. Other long-term liabilities:

	2018			2017
Deferred gain on sale-leasebacks ^(a)	$	181,053		$	203,737
Other		31,347			19,284
Other long-term liabilities		212,400			223,021
Current portion of other long-term liabilities		(32,243	)		(23,635	)
Other long-term liabilities	$	180,157		$	199,386

(a)

During the year ended December 31, 2018, the Company did not enter into any sale-leaseback transactions.

In May 2017, the Company entered into a sale-leaseback transaction with Asian special purpose companies, or SPCs, for one 14000 TEU vessel, the YM Wind, for gross proceeds of $144,000,000. Under the transaction, the Company sold the vessel to the SPCs and leased the vessel back from the SPCs over a term of 12 years, with an option to purchase the vessel at the 9.5 year anniversary for a pre-determined fair value purchase price. The sale of this vessel resulted in a deferred gain totaling approximately $31,611,000 which is being recorded as a reduction of the related operating lease expense over the 12 year lease term.