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Unaudited Consolidated Statements of (Loss) Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES        
Net pool revenues (note 12a) $ 49,174 $ 92,022 $ 250,426 $ 263,510
Time charter revenues (note 12a) 23,276 20,339 68,884 48,387
Voyage charter revenues 23,176 5,502 59,750 20,327
Other revenues (notes 6 and 16) 8,995 8,538 30,132 12,983
Total revenues 104,621 126,401 409,192 345,207
Voyage expenses (note 12a) (14,933) (2,653) (37,514) (10,164)
Vessel operating expenses (note 12a) (44,783) (35,267) (136,245) (87,085)
Time-charter hire expense (11,335) (21,382) (47,964) (53,178)
Depreciation and amortization (25,888) (17,878) (78,576) (48,346)
General and administrative expenses (note 12a) (3,572) (4,310) (13,774) (10,992)
Loss on sale of vessel (137) 0 (137) 0
Asset impairments (note 13) (7,766) 0 (14,186) 0
Restructuring charges (note 16) 0 (327) 0 (4,772)
(Loss) income from operations (3,793) 44,584 80,796 130,670
Interest expense (6,809) (4,008) (22,421) (9,659)
Interest income 18 28 70 67
Realized and unrealized gain (loss) on derivative instruments (note 8) 3,629 (1,031) (7,902) (2,095)
Equity income (note 5) 1,045 2,762 9,599 8,931
Other income (expense) (note 9) 453 (1,385) (4,133) (1,838)
Net (loss) income $ (5,457) $ 40,950 $ 56,009 $ 126,076
Per common share amounts (note 14)        
- Basic earnings per share (usd per share) $ (0.03) $ 0.31 $ 0.36 $ 1.02
- Diluted earnings per share (usd per share) (0.03) 0.30 0.36 1.02
- Cash dividends declared (usd per share) $ 0.06 $ 0.03 $ 0.15 $ 0.09
Weighted-average number of Class A and Class B common stock outstanding (note 14)        
- Basic (shares) 156,284,136 134,630,768 156,192,572 121,933,274
- Diluted (shares) 156,284,136 135,174,756 156,458,691 122,504,070