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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:      
Net income $ 435,121 $ 8,877 $ 98,999
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 136,958 108,700 113,462
Credit loss provision (324) 26 0
Amortization of debt discount (1,280) (933) (851)
Amortization and write-off of financing costs 6,704 3,645 4,491
Amortization of deferred dry-docking and special survey costs 10,433 9,056 8,948
Amortization of assumed time charter (424) 192 191
Equity based payments 7,414 3,655 3,879
Gain on sale of equity securities (60,161) 0 0
Loss on derivative instruments, net 1,246 1,759 651
(Gain) / Loss on sale of vessels, net (45,894) 79,120 19,589
Loss on vessels held for sale 0 7,665 2,495
Vessels impairment loss 0 31,577 3,042
Income from equity method investments (12,859) (16,195) (11,369)
Changes in operating assets and liabilities:      
Accounts receivable (12,828) 3,852 7,417
Due from related parties 3,549 5,953 (2,895)
Inventories (9,917) 91 474
Insurance claims receivable (4,102) (1,504) (2,538)
Prepayments and other 3,133 (853) (2,072)
Accounts payable 9,639 1,367 (2,371)
Due to related parties 1,261 (41) 277
Accrued liabilities 11,892 3,619 4,133
Unearned revenue 11,347 1,950 811
Other current liabilities (599) 284 (280)
Dividend from equity method investees 6,370 16,653 6,295
Dry-dockings (18,882) (15,481) (6,280)
Accrued charter revenue (11,303) 21,250 3,893
Net Cash provided by Operating Activities 466,494 274,284 250,391
Cash Flows From Investing Activities:      
Equity method investments 0 0 (55)
Return of capital from equity method investments 8,820 32,996 24,530
Debt securities capital redemption 8,183 0 0
Proceeds from the settlement of insurance claims 1,035 2,228 7,407
Proceeds from sale of equity securities 63,963 0 0
Vessel acquisition and advances/Additions to vessel cost (992,093) (101,917) (61,975)
Proceeds from the sale of vessels, net 122,636 30,296 21,235
Net Cash used in Investing Activities (787,456) (36,397) (8,858)
Cash Flows From Financing Activities:      
Proceeds from long-term debt and finance leases 1,225,397 285,903 448,000
Repayment of long-term debt and finance leases (655,400) (451,038) (597,607)
Payment of financing costs (16,140) (7,478) (3,891)
Swap termination 0 (2,095) 0
Retirement of preferred stock 0 (1,684) 0
Dividends paid (71,263) (65,470) (58,655)
Net Cash provided by / (used in) Financing Activities 482,594 (241,862) (212,153)
Net increase / (decrease) in cash, cash equivalents and restricted cash 161,632 (3,975) 29,380
Cash, cash equivalents and restricted cash at beginning of the year 191,896 195,871 166,491
Cash, cash equivalents and restricted cash at end of the year 353,528 191,896 195,871
Supplemental Cash Information:      
Cash paid during the year for interest, net of capitalized interest 71,813 63,725 83,152
Non-Cash Investing and Financing Activities:      
Dividend reinvested in common stock of the Company $ 12,655 $ 13,783 $ 18,503