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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net loss $ (15,689) $ (46,534)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 35,041 27,986
Amortization and write-off of deferred finance fees and bond premium 2,293 1,981
Amortization of dry dock and special survey costs 4,626 3,240
Stock based compensation 460 541
Gain on sale of vessels (3,245) (25)
Equity/ (loss) in net earnings of affiliates, net of dividends received (1,734) 59
Changes in operating assets and liabilities:    
Increase in prepaid expenses and other current assets (413) (438)
Decrease in accounts receivable 8,343 41
Increase in due from related parties, short-term (15,804) (783)
Increase in other long term assets 0 (2,550)
Decrease in due from related parties, long-term 2,431 1,851
(Decrease)/ increase in accounts payable (1,834) 426
Increase in accrued expenses 476 588
Payments for dry dock and special survey costs (1,662) (11,411)
Decrease in due to related parties, short-term (12,029) (6,887)
Increase in deferred revenue 285 921
Net cash provided by / (used in) operating activities 1,545 (30,994)
Investing Activities    
Loans to affiliates (2,000) 0
Dividends received from affiliates 0 6,902
Vessels additions (5,563) 0
Net cash proceeds from sale of vessel 33,301 44,500
Net cash provided by investing activities 25,738 51,402
Financing Activities    
Loan proceeds, net of deferred finance costs 98,201 70,392
Loan repayments (121,525) (113,471)
Dividend paid (8,240) (6,167)
Acquisition of treasury stock (366) (5,556)
Net cash used in financing activities (31,930) (54,802)
Net (decrease) in cash, cash equivalents and restricted cash (4,647) (34,394)
Cash, cash equivalents and restricted cash, beginning of period 46,609 86,458
Cash, cash equivalents and restricted cash, end of period 41,962 52,064
Supplemental disclosures of cash flow information    
Cash interest paid, net of capitalized interest 44,525 36,126
Non-cash investing activities    
Accrued interest on loan to affiliate 1,734 1,476
Costs payable relating to sale of vessel 0 (200)
Non-cash financing activities    
Stock based compensation 460 541
Deferred finance costs 492 $ 879
Other long term assets $ 3,095