XML 103 R2.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of (Loss) Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUES      
Total revenues $ 542,367 $ 886,434 $ 943,917
Voyage expenses (315,121) (297,225) (402,294)
Vessel operating expenses (notes 14b and 14c) (165,375) (184,233) (208,601)
Time-charter hire expenses (note 10) (13,799) (36,341) (43,189)
Depreciation and amortization (106,084) (117,212) (124,002)
General and administrative expenses (note 14b) (43,715) (39,006) (36,404)
Write-down and loss on sale of assets (note 19) (92,368) (69,446) (5,544)
Restructuring charges (note 20) 0 (1,398) 0
(Loss) income from operations (194,095) 141,573 123,883
Interest expense (35,031) (51,525) (65,362)
Interest income 122 1,199 871
Realized and unrealized gain (loss) on derivative instruments (note 11) 564 (2,220) (967)
Equity (loss) income (note 5) (14,107) 5,100 2,345
Other (expense) income (note 15) (1,756) 473 695
Net (loss) income before income taxes (244,303) 94,600 61,465
Income tax recovery (expense) (note 21) 1,931 (7,283) (20,103)
Net (loss) income $ (242,372) $ 87,317 $ 41,362
Per common share amounts (note 18)      
• Basic (loss) earnings per share $ (7.16) $ 2.59 $ 1.23
• Diluted (loss) earnings per share $ (7.16) $ 2.57 $ 1.23
Weighted-average number of Class A and Class B common stock outstanding (note 18)      
• Basic (in shares) 33,859,306 33,718,665 33,617,635
• Diluted (in shares) 33,859,306 33,921,621 33,731,171
Voyage charter      
REVENUES      
Total revenues $ 485,896 $ 741,804 $ 881,603
Time-charter revenues      
REVENUES      
Total revenues 46,159 127,598 17,495
Other      
REVENUES      
Total revenues $ 10,312 $ 17,032 $ 44,819