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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES:      
Net income $ 433,645 $ 579,247 $ 511,273
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of intangible assets 217,823 201,820 112,817
Amortization of unfavorable lease terms (19,922) (74,963) (108,538)
Non-cash amortization of deferred revenue and straight-line 54,396 51,048 460
Amortization of operating lease assets/liabilities 8,918 3,912 (401)
Amortization and write-off of deferred finance costs and discount 7,188 5,349 3,741
Amortization of deferred dry dock and special survey costs 43,321 28,917 16,143
Gain on sale of vessels, net (50,248) (149,352) (33,625)
Bargain gain 0 0 (48,015)
Equity in net earnings of affiliated companies 0 0 (80,839)
Stock-based compensation 4 154 523
Changes in operating assets and liabilities:      
Decrease/ (increase) in accounts receivable 32,793 (46,559) 344
Decrease/ (increase) in prepaid expenses and other current assets 7,609 (20,952) 9,770
Decrease/ (increase) in amounts due from related parties 1,156 (6,158) (53,420)
(Decrease)/ increase in accounts payable (1,629) 3,401 1,260
Increase/ (decrease) in accrued expenses 7,559 (1,719) (7,736)
Decrease in amounts due to related parties (72,725) (13,429) (14,541)
(Decrease)/ increase in deferred revenue (8,284) 11,492 17,743
Payments for dry dock and special survey costs (101,287) (65,868) (49,786)
Net cash provided by operating activities 560,317 506,340 277,173
INVESTING ACTIVITIES:      
Net cash proceeds from sale of vessels 259,004 284,476 121,080
Acquisition of/ additions to vessels (182,898) (433,777) (217,032)
Deposits for acquisition/ option to acquire vessel (282,121) (176,802) (61,848)
Cash acquired from acquisitions 0 9,862 42,676
Repayments of notes receivable 0 0 8,872
Other investments (47,000) 0 0
Net cash used in investing activities (253,015) (316,241) (106,252)
FINANCING ACTIVITIES:      
Cash distributions paid (6,160) (6,163) (4,615)
Net proceeds from issuance of general partnership units 0 0 9,960
Net proceeds from issuance of common units 0 0 198,495
Proceeds from long-term debt and financial liabilities 609,723 479,735 735,276
Repayment of long-term debt and financial liabilities (822,743) (651,875) (959,154)
Payments of deferred finance costs (14,045) (6,144) (12,165)
Net cash used in financing activities (233,225) (184,447) (32,203)
Increase in cash, cash equivalents and restricted cash 74,077 5,652 138,718
Cash, cash equivalents and restricted cash, beginning of period 175,098 169,446 30,728
Cash, cash equivalents and restricted cash, end of period 249,175 175,098 169,446
Supplemental disclosures of cash flow information      
Cash interest paid 144,388 80,626 50,382
Non cash financing activities      
Stock-based compensation 4 154 523
Long-term debt and financial liabilities 202,373 756,673  
Non cash investing activities      
Deposits for acquisition/ option to acquire vessel 20,188 (6,860) 0
Acquisition of vessels $ (249,875) $ (782,334) $ (5,766)