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Unaudited Consolidated Statements of Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Total revenues $ 170,240 $ 187,444 $ 758,632 $ 632,612
Voyage expenses (57,777) (92,866) (238,576) (293,263)
Vessel operating expenses (note 13b) (46,336) (48,539) (143,203) (156,726)
Time-charter hire expenses 9,070 10,637 28,245 30,877
Depreciation and amortization (29,992) (31,536) (89,170) (92,059)
General and administrative expenses (note 13b) (9,887) (8,739) (28,957) (27,412)
Gain (loss) on sale of assets and write-down of assets (note15) (44,973) 0 (45,164) 0
Restructuring Charges (1,398) 0 (1,398) 0
(Loss) income from operations (29,193) (4,873) 183,919 32,275
Interest expense (12,553) (16,134) (41,180) (49,683)
Interest income 337 138 1,160 724
Realized and unrealized (loss) gain on derivative instruments (note 8) (414) 1,453 (1,830) (1,172)
Equity income 46 68 5,174 652
Other (expense) income (note 9) (470) 933 1,613 1,182
Net (loss) income before income tax (42,247) (18,415) 148,856 (16,022)
Income tax (expense) recovery (note 10) (2,187) (1,435) 11,747 (5,688)
Net income (loss) $ (44,434) $ (19,850) $ 160,603 $ (21,710)
Per common share amounts (note 14)        
- Basic (loss) earnings per share $ (1.32) $ (0.59) $ 4.76 $ (0.65)
- Diluted (loss) earnings per share $ (1.32) $ (0.59) $ 4.73 $ (0.65)
Weighted-average number of Class A and Class B common stock outstanding (note 14)        
- Basic 33,738,143 33,623,608 33,712,124 33,610,936
- Diluted 33,738,143 33,623,608 33,942,191 33,610,936
Voyage charter revenues        
Total revenues $ 125,819 $ 178,174 $ 651,223 $ 591,746
Time-charter [Member]        
Total revenues 42,180 1,909 92,733 6,815
Other revenues        
Total revenues $ 2,241 $ 7,361 $ 14,676 $ 34,051