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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES:      
Voyage revenue $ 1,113,859 $ 793,639 $ 460,319
EXPENSES:      
Voyage expenses (49,069) (13,311) (7,372)
Voyage expenses-related parties (Note 3) (15,418) (11,089) (6,516)
Vessels’ operating expenses (269,231) (179,981) (117,054)
General and administrative expenses (9,737) (6,872) (4,103)
General and administrative expenses – related parties (Note 3) (9,792) (9,947) (6,912)
Management and agency fees-related parties (Note 3) (46,735) (29,621) (21,616)
Amortization of dry-docking and special survey costs (Note 8) (13,486) (10,433) (9,056)
Depreciation (Notes 7, 12 and 22) (165,998) (136,958) (108,700)
Gain / (loss) on sale of vessels, net (Note 7) 126,336 45,894 (79,120)
Loss on vessels held for sale (Note 7) 0 0 (7,665)
Vessels’ impairment loss (Notes 7 and 8) (1,691) 0 (31,577)
Foreign exchange gains / (losses) 3,208 29 (300)
Operating income 662,246 441,350 60,328
OTHER INCOME / (EXPENSES):      
Interest income 5,956 1,587 1,827
Interest and finance costs (Note 18) (122,233) (86,047) (68,702)
Swaps breakage cost, net (Note 20) 0 0 (6)
Income from equity method investments (Note 10) 2,296 12,859 16,195
Gain on sale of equity securities (Note 5) 0 60,161 0
Dividend income (Note 5) 0 1,833 0
Other, net 3,729 4,624 1,181
Gain / (loss) on derivative instruments, net (Note 20) 2,698 (1,246) (1,946)
Total other expenses, net (107,554) (6,229) (51,451)
Net income 554,692 435,121 8,877
Net loss attributable to the non-controlling interest (Note 15) 263 0 0
Net income attributable to Costamare Inc. 554,955 [1] 435,121 8,877
Earnings allocated to Preferred Stock (Note 17) (31,068) (31,068) (31,082)
Gain on retirement of Preferred Stock (Note 17) 0 0 619
Net income / (loss) available to Common Stockholders $ 523,887 $ 404,053 $ (21,586)
Earnings / (losses) per common share, basic and diluted (Note 17) (in dollars per share) $ 4.26 $ 3.28 $ (0.18)
Weighted average number of shares, basic and diluted (Note 17) (in shares) 122,964,358 123,070,730 120,696,130
[1] Net income excludes net loss attributable to non-controlling interest of $263 during the year ended December 31, 2022. Temporary equity - non-controlling interest in subsidiary is reflected outside of the permanent stockholders’ equity on the 2022 consolidated balance sheet. See Note 15 of the Notes to the Consolidated Financial Statements.