XML 16 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Shipping Revenues:        
Shipping revenues $ 241,708 $ 236,829 $ 821,041 $ 526,508
Operating Expenses:        
Voyage expenses 5,756 2,283 13,434 8,448
Vessel expenses 64,596 58,565 188,516 178,445
Charter hire expenses 11,297 7,797 30,599 22,799
Depreciation and amortization 33,363 27,728 95,356 81,984
General and administrative 12,314 11,839 35,082 32,852
Third-party debt modification fees 148 71 568 1,158
Loss/(gain) on disposal of vessels and other assets, net of impairments 74 139 (10,648) (9,339)
Total operating expenses 127,548 108,422 352,907 316,347
Income from vessel operations 114,160 128,407 468,134 210,161
Equity in results of affiliated companies   (1) 0 434
Operating income 114,160 128,406 468,134 210,595
Other income/(expense) 646 360 8,308 (440)
Income before interest expense and income taxes 114,806 128,766 476,442 210,155
Interest expense (16,817) (15,332) (51,678) (40,630)
Income before income taxes 97,989 113,434 424,764 169,525
Income tax provision (52) (7) (432) (63)
Net income 97,937 113,427 424,332 169,462
Net income/(loss) attributable to the Company $ 97,937 $ 113,427 $ 424,332 $ 169,462
Weighted Average Number of Common Shares Outstanding:        
Basic 48,861,356 49,312,716 49,008,901 49,493,315
Diluted 49,275,022 49,743,700 49,442,825 49,758,196
Per Share Amounts:        
Basic net income/(loss) per share $ 2.00 $ 2.30 $ 8.65 $ 3.42
Diluted net income/(loss) per share $ 1.99 $ 2.28 $ 8.58 $ 3.40
Pool Revenue Leases [Member]        
Shipping Revenues:        
Shipping revenues $ 194,465 $ 215,240 $ 701,634 $ 463,729
Time and Bareboat Charter Leases [Member]        
Shipping Revenues:        
Shipping revenues 27,587 8,487 66,849 22,795
Voyage Charter Leases [Member]        
Shipping Revenues:        
Shipping revenues $ 19,656 $ 13,102 $ 52,558 $ 39,984