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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:      
Net income $ 90,170,480 $ 307,446,913 $ 172,443,930
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 69,599,087 68,665,907 63,396,131
Non-cash lease expense 32,487,533 29,116,821 10,866,495
Amortization of financing costs 1,219,532 1,243,360 5,600,493
Unrealized (gain)/loss on derivatives 5,786,717 (5,665) (2,766,065)
Stock-based compensation expense 10,423,520 8,334,838 4,280,387
Unrealized foreign currency (gain)/loss, net (18,153) 285,277 921,289
Other non-cash items, net 821,699 (3,230,571) (4,571,737)
Changes in operating assets and liabilities      
Trade receivables, inventories, prepaid expenses, and other current and non-current assets (1,072,377) (926,439) (2,693,495)
Due from related parties 3,162,641 16,317,153 (16,387,264)
Operating lease liabilities - current and long-term (32,488,879) (28,210,348) (9,078,157)
Trade accounts payable (35,347) (1,266,860) 591,835
Accrued expenses and other liabilities 1,424,045 (1,338,519) 2,498,574
Due to related parties 32,056 (161,510) 131,360
Payments for drydocking costs (8,499,063) (7,823,549) (1,173,940)
Net cash provided by operating activities 173,013,491 388,446,808 224,059,836
Cash flows from investing activities:      
Payments for vessels under construction and other capital expenditures for vessels (18,948,804) (32,853,093) (68,781,071)
Purchase of investment securities (213,592) (5,978,390)  
Purchase of U.S. treasury notes     (11,275,322)
Proceeds from sale of investment securities   4,029,944 3,718,981
Proceeds from maturity of available-for-sale debt securities 11,800,000    
Payments to acquire other fixed assets     (3,778)
Net cash used in investing activities (7,362,396) (34,801,539) (76,341,190)
Cash flows from financing activities:      
Proceeds from long-term debt borrowings     346,000,000
Repayment of long-term debt borrowings (53,033,315) (53,110,676) (352,458,012)
Repurchase of common stock (6,266,718) (3,940,401) (1,669,902)
Financing costs paid   (407,500) (6,506,267)
Dividends paid (156,398,056) (162,260,785) (220,597,827)
Proceeds from common share issuances 89,000,000    
Equity offering costs paid (4,590,638)    
Net cash used in financing activities (131,288,727) (219,719,362) (235,232,008)
Effects of exchange rates on cash and cash equivalents 7,475 (215,788) (449,902)
Net increase/(decrease) in cash, cash equivalents, and restricted cash 34,369,843 133,710,119 (87,963,264)
Cash, cash equivalents, and restricted cash at the beginning of the period 282,583,769 148,873,650 236,836,914
Cash, cash equivalents, and restricted cash at the end of the period 316,953,612 282,583,769 148,873,650
Supplemental disclosure of cash flow information      
Cash paid for interest, net of amounts capitalized 32,808,467 37,886,561 31,071,625
Cash paid for operating leases 42,290,030 42,101,279 11,965,581
Right of use assets recognized   62,646,575 163,337,516
Unpaid lease liability upon initial recognition   61,746,575 161,574,834
Capitalized drydocking costs included in liabilities 2,712,600 1,179,778 234,290
Vessel-related capital expenditures included in liabilities 1,003,032 1,027,316 1,317,456
Unpaid dividends included in liabilities 915,150 1,149,665 1,255,861
Financing costs included in liabilities 663,600 663,600 663,600
Reconcilliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the total amount of such items reported in the statements of cash flows:      
Cash and cash equivalents 316,877,584 282,507,971 148,797,232
Restricted cash - non-current 76,028 75,798 76,418
Cash and cash equivalents and restricted cash at end of period shown in the statement of cash flows $ 316,953,612 $ 282,583,769 $ 148,873,650