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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:      
Net income $ 71,935,018 $ 92,564,653 $ 111,841,258
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 66,432,115 68,462,476 66,262,530
Amortization of operating lease right-of-use assets 9,576,822 9,218,537 1,885,522
Amortization of financing costs 5,889,040 4,695,360 2,893,392
Unrealized (gain)/loss on derivatives (11,067,870) (7,202,880) 18,206,769
Stock-based compensation expense 3,332,279 3,356,199 3,227,686
Gain on disposal of vessels (7,256,897)    
Unrealized foreign currency (gain)/loss, net 166,873 (210,010) 311,539
Other non-cash items, net 1,267,576 (1,091,825) (1,200,001)
Changes in operating assets and liabilities      
Trade receivables, net and accrued revenue (650,839) 618,625 563,272
Prepaid expenses and other current assets (2,607,346) (1,192,336) (222,510)
Due from related parties 897,936 10,656,326 (25,692,058)
Inventories (258,887) (11,261) 115,434
Other non-current assets (552,201) 1,490,267 (1,356,007)
Operating lease liabilities-current and long-term (9,590,424) (9,221,782) (1,888,347)
Trade accounts payable (115,287) 212,173 1,470,669
Accrued expenses and other liabilities (4,889,118) 4,309,014 (2,078,325)
Due to related parties (80,370) (319,047) (52,794)
Payments for drydocking costs (3,733,250) (5,738,793) (5,251,622)
Net cash provided by operating activities 118,695,170 170,595,696 169,036,407
Cash flows from investing activities:      
Payments for vessel under construction and vessel capital expenditures (23,185,913) (9,492,953) (19,883,090)
Payments for short-term investments     (14,888,638)
Purchases of investment securities (2,250,681) (4,743,809)  
Proceeds from sale of investment securities 3,742,429 275,393 1,767,906
Proceeds from maturity of short-term investments   15,000,000  
Proceeds from disposal of vessels 90,460,363    
Payments to acquire other fixed assets   (17,541) (141,012)
Net cash provided by/(used in) investing activities 68,766,198 1,021,090 (33,144,834)
Cash flows from financing activities:      
Proceeds from long-term debt borrowings 298,250,000 55,378,172  
Repayment of long-term debt borrowings (230,317,537) (99,418,395) (63,968,414)
Repurchase of common stock (21,364,822) (126,260,923) (50,642,795)
Financing costs paid (1,664,252) (4,183,321) (40,547)
Dividends paid (80,082,210)    
Net cash used in financing activities (35,178,821) (174,484,467) (114,651,756)
Effects of exchange rates on cash and cash equivalents (172,832) 205,753 (323,336)
Net increase/(decrease) in cash, cash equivalents, and restricted cash 152,109,715 (2,661,928) 20,916,481
Cash, cash equivalents, and restricted cash at the beginning of the period 84,727,199 87,389,127 66,472,646
Cash, cash equivalents, and restricted cash at the end of the period 236,836,914 84,727,199 87,389,127
Supplemental disclosure of cash flow information      
Cash paid during the period for interest 20,591,883 21,787,205 32,461,153
Cash paid for amounts included in the measurement of operating lease liabilities 10,082,984 10,088,410 2,810,468
Vessel-related capital expenditures included in liabilities 107,275 320,992 4,408,333
Unpaid dividends included in liabilities 494,180    
Financing costs included in liabilities $ 1,689,600 $ 596,800 $ 595,138