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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities:      
Net income: $ 381,019 $ 554,692 $ 435,121
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 166,340 165,998 136,958
Credit loss provision 0 0 (324)
Amortization of debt discount 0 0 (1,280)
Amortization and write-off of financing costs 8,918 10,255 6,704
Amortization of deferred dry-docking and special survey costs 19,782 13,486 10,433
Amortization of assumed time charter (197) 198 (424)
Amortization of hedge effectiveness excluded component from cash flow hedges 4,354 1,286 0
Equity based payments 5,850 7,089 7,414
Increase in short-term investments (3,618) (1,296) 0
Gain on sale of equity securities 0 0 (60,161)
(Gain) / loss on derivative instruments, net (4,801) (2,698) 1,246
Gain on sale of vessels, net (112,220) (126,336) (45,894)
Loss on vessels held for sale 2,305 0 0
Vessels' impairment loss 434 1,691 0
Income from equity method investments (764) (2,296) (12,859)
Changes in operating assets and liabilities:      
Accounts receivable (36,619) (6,150) (12,828)
Due from related parties (281) (3,838) 3,549
Inventories (32,975) (6,674) (9,917)
Insurance claims receivable (20,582) (4,209) (4,102)
Prepayments and other (59,088) (361) 3,133
Accounts payable 27,896 (710) 9,639
Due to related parties (928) 638 1,261
Accrued liabilities (12,542) 21,903 11,892
Unearned revenue 17,191 (2,267) 11,347
Other liabilities 11,140 1,039 (599)
Dividend from equity method investees 4,002 1,114 6,370
Dry-dockings (43,233) (38,330) (18,882)
Accrued charter revenue 9,985 (2,631) (11,303)
Net Cash provided by Operating Activities 331,368 581,593 466,494
Cash Flows From Investing Activities:      
Equity method investments (1,274) 0 0
Return of capital from equity method investments 2,927 14 8,820
Payments to acquire short-term investments (199,555) (178,718) 0
Settlements of short-term investments 305,695 60,000 0
Debt securities capital redemption 0 0 8,183
Proceeds from the settlement of insurance claims 7,763 2,769 1,035
Acquisition of a subsidiary, net of cash acquired 2,796 0 0
Issuance of investments in leaseback vessels (198,832) 0 0
Capital collections from vessels' leaseback arrangements 18,832 0 0
Proceeds from sale of equity securities 0 0 63,963
Vessel acquisition and advances/Additions to vessel cost (83,494) (61,895) (992,093)
Proceeds from the sale of vessels, net 224,235 220,318 122,636
Net Cash provided by / (used in) in Investing Activities 79,093 42,488 (787,456)
Cash Flows From Financing Activities:      
Proceeds from long-term debt and finance leases 576,206 1,014,284 1,225,397
Repayment of long-term debt and finance leases (832,168) (984,313) (655,400)
Payment of financing costs (25,149) (20,129) (16,140)
Repurchase of common stock (60,000) (60,095) 0
Dividends paid (71,867) (119,548) (71,263)
Proceeds from stock issuance 16,163 3,750 0
Net Cash provided by / (used in) Financing Activities (396,815) (166,051) 482,594
Net increase in cash, cash equivalents and restricted cash 13,646 458,030 161,632
Cash, cash equivalents and restricted cash at beginning of the year 811,558 353,528 191,896
Cash, cash equivalents and restricted cash at end of the year 825,204 811,558 353,528
Supplemental Cash Information:      
Cash paid during the year for interest, net of capitalized interest 152,628 100,699 71,813
Non-Cash Investing and Financing Activities:      
Dividend reinvested in common stock of the Company 16,321 30,231 12,655
Right-of-use assets obtained in exchange for operating lease obligations $ 440,202 $ 0 $ 0