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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:      
Net income $ 309,261 $ 416,724 $ 556,446
Items included in net income not affecting cash flows:      
Depreciation and amortization 163,586 149,440 129,038
Loss on write-down of vessels and other assets   8,700  
Amortization of debt discount and other deferred financing costs 4,262 4,110 5,623
Deferred financing costs write-off 1,761   2,686
Stock compensation 8,699 9,000 8,518
Other - net (189) (553) (2,542)
Items included in net income related to investing and financing activities:      
Gain on disposal of vessels and other assets, net (42,537) (41,357) (35,934)
Loss on extinguishment of debt 315   1,323
Payments for drydocking (84,211) (58,642) (34,539)
Insurance claims proceeds related to vessel operations 2,840 1,073 3,156
Changes in operating assets and liabilities:      
Decrease in receivables 7,634 61,644 42,610
(Decrease)/increase in deferred revenue (1,857) 1,590 3,283
Purchase of insurance contract in connection with settlement of pension plan obligations   (3,649)  
Net change in inventories, prepaid expenses and other current assets and accounts payable, accrued expense, and other current and long-term liabilities 10,488 (942) 8,734
Net cash provided by operating activities 380,052 547,138 688,402
Cash Flows from Investing Activities:      
Expenditures for vessels, vessel improvements and vessels under construction, including deposits for acquisitions (340,480) (278,794) (205,159)
Security deposits returned for vessel exchange transactions 5,000 (5,000)  
Proceeds from disposal of vessels and other assets 246,259 71,895 66,002
Expenditures for other property (1,441) (1,386) (1,471)
Pool working capital deposits (650) (1,732) (3,639)
Investments in short term time deposits (50,000) (125,000) (235,000)
Proceeds from maturities of short term time deposits   185,000 255,000
Net cash used in investing activities (141,312) (155,017) (124,267)
Cash Flows from Financing Activities:      
Borrowings on nonrevolving credit facility debt 331,494    
Borrowings on revolving credit facilities 80,000 120,000 50,000
Repayments on revolving credit facilities (224,581) (70,000) (50,000)
Repayments of debt   (39,851) (382,050)
Premium and fees on extinguishment of debt (315)   (1,323)
Proceeds from sale and leaseback financing, net of issuance and deferred financing costs     169,717
Payments on sale and leaseback financing and finance lease (303,504) (49,294) (135,965)
Payments of deferred financing costs (11,666) (5,759) (3,577)
Cash dividends paid (144,611) (284,416) (308,154)
Repurchases of common stock   (25,000) (13,948)
Cash paid to tax authority upon vesting or exercise of stock-based compensation (6,141) (7,055) (5,819)
Net cash used in financing activities (279,324) (361,375) (681,119)
Net (decrease)/increase in cash and cash equivalents (40,584) 30,746 (116,984)
Cash, cash equivalents and restricted cash at beginning of year 157,506 126,760 243,744
Cash, cash equivalents and restricted cash at end of period $ 116,922 $ 157,506 $ 126,760