XML 239 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES      
Total revenues $ 943,917 $ 776,493 $ 431,178
Voyage expenses (402,294) (381,306) (77,368)
Vessel operating expenses (notes 16e and 16f) (208,601) (209,131) (175,389)
Time-charter hire expense (note 12) (43,189) (19,538) (30,661)
Depreciation and amortization (124,002) (118,514) (100,481)
General and administrative expenses (note 16e) (36,404) (39,775) (32,879)
(Loss) gain and write-down on sale of vessels (note 21) (5,544) 170 (12,984)
Restructuring charges 0 (1,195) 0
Income from operations 123,883 7,204 1,416
Interest expense (65,362) (58,653) (31,294)
Interest income 871 879 907
Realized and unrealized (loss) gain on derivative instruments (note 13) (967) 3,032 1,319
Equity income (loss) (note 7) 2,345 1,220 (25,370)
Other income (note 17) 695 3,182 329
Net income (loss) before income taxes 61,465 (43,136) (52,693)
Income tax expenses (note 22) (20,103) (9,412) (5,330)
Net income (loss) before income taxes $ 41,362 $ (52,548) $ (58,023)
Per common share amounts (note 20)      
• Basic earnings (loss) per share (in dollars per share) $ 1.23 $ (1.57) $ (2.48)
• Diluted earnings (loss) per share (in dollars per share) 1.23 (1.57) (2.48)
• Cash dividends declared (in dollars per share) $ 0.00 $ 0.24 $ 0.96
Weighted-average number of Class A and Class B common stock outstanding (note 20)      
• Basic (in shares) 33,617,635 33,561,615 23,404,422
• Diluted (in shares) 33,731,171 33,561,615 23,404,422
Voyage charter      
REVENUES      
Total revenues $ 881,603 $ 671,928 $ 125,774
Time-charter revenues      
REVENUES      
Total revenues 17,495 59,976 112,100
Other      
REVENUES      
Total revenues 44,819 44,589 53,368
Net pool      
REVENUES      
Total revenues $ 0 $ 0 $ 139,936