XML 196 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of (Loss) Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUES      
Net pool revenues (notes 14e and 14h) $ 139,936 $ 310,108 $ 381,028
Time-charter revenues (note 14e) 112,100 97,374 75,375
Voyage charter revenues 125,774 90,032 41,874
Other revenues (note 20) 53,368 53,029 36,404
Total revenues 431,178 550,543 534,681
Voyage expenses (note 14e) (77,368) (53,604) (18,727)
Vessel operating expenses (notes 14e and 14f) (175,389) (182,598) (137,164)
Time-charter hire expense (note 9) (30,661) (59,647) (74,898)
Depreciation and amortization (100,481) (104,149) (73,760)
General and administrative expenses (note 14e) (32,879) (33,199) (30,403)
(Loss) gain on sale of vessels (note 19) (12,984) (20,594) 771
Restructuring charges (note 20) 0 0 (6,795)
Income from operations 1,416 96,752 193,705
Interest expense (31,294) (29,784) (17,389)
Interest income 907 117 122
Realized and unrealized gain (loss) on derivative instruments (note 10) 1,319 (964) (1,597)
Equity (loss) income (note 6) (25,370) 7,680 11,528
Other expense (note 15) (5,001) (5,978) (2,743)
Net (loss) income $ (58,023) $ 67,823 $ 183,626
Per common share amounts      
Basic (loss) earnings per share (in dollars per share) $ (0.31) $ 0.40 $ 1.26
Diluted (loss) earnings per share (in dollars shares) (0.31) 0.40 1.25
Cash dividends declared (in dollars per share) $ 0.12 $ 0.18 $ 0.24
Weighted-average number of Class A and Class B common stock outstanding      
Basic (in shares) 187,235,377 170,098,572 143,911,452
Diluted (in shares) 187,235,377 170,340,639 144,492,933