XML 39 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES    
Net income $ 22,234 $ 48,346
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,144 60,687
Amortization and write-off of deferred financing cost 2,149 1,505
Amortization of deferred dry dock and special survey costs 1,294 146
Changes in operating assets and liabilities:    
Net decrease in restricted cash 0 2
Decrease in accounts receivable 227 5,307
Decrease in prepaid expenses and other current assets 484 1,238
Decrease in other long term assets 7 5
Payments for dry dock and special survey costs (8,830) (2,735)
Increase/(decrease) in accounts payable 513 (124)
Increase/(decrease) in accrued expenses 617 (601)
(Decrease)/increase in deferred voyage revenue (164) 159
Increase in amounts due to related parties 13,763 2,462
Net cash provided by operating activities 69,438 116,397
INVESTING ACTIVITIES:    
Acquisition of vessels (147,830) (36,854)
Investment in affiliates (472) 0
Loans receivable from affiliates (346) (303)
Release of restricted cash for vessel acquisitions 0 33,429
Net cash used in investing activities (148,648) (3,728)
FINANCING ACTIVITIES:    
Cash distributions paid (76,193) (68,047)
Net proceeds from issuance of general partner units 1,528 2,233
Proceeds from issuance of common units, net of offering costs 72,090 104,499
Proceeds from long term debt 79,819 0
Net increase in restricted cash (21,247) 0
Repayment of long-term debt and payment of principal (48,695) (3,184)
Debt issuance costs (746) 0
Net cash provided by financing activities 6,556 35,501
(Decrease)/increase in cash and cash equivalents (72,654) 148,170
Cash and cash equivalents, beginning of period 99,495 35,346
Cash and cash equivalents, end of period 26,841 183,516
Supplemental disclosures of cash flow information    
Cash interest paid, net of capitalized interest 12,917 12,683
Non-cash financing activities    
Due to related parties 0 529
Acquisition of vessels $ 0 $ (529)