LEASES (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Property Subject to or Available for Operating Lease

The future minimum commitments and related number of operating days under these operating leases are as follows:



At December 31,	Amount		Operating Days
2018	$	91,457	3,650
2019	111,819		3,470
2020	9,168		366
2021	9,143		365
2022	9,143		365
Thereafter	22,846		912
Net minimum lease payments	$	253,576	9,128

The future minimum commitments under lease obligations for office space as of December 31, 2017 and for each of the next five years ended December 31 and thereafter, are as follows:



At December 31,	Amount
2018	$	627
2019	658
2020	635
2021	631
2022	649
Thereafter	573
Net minimum lease payments	$	3,773

Operating Leases of Lessee Disclosure

The future minimum revenues, before reduction for brokerage commissions and which include rent escalations, expected to be received on noncancelable time charters and certain COAs for which minimum annual revenues can be reasonably estimated and the related revenue days (revenue days represent calendar days, less days that vessels are not available for employment due to repairs, drydock or lay-up) are as follows:



At December 31,	Amount		Revenue Days
2018	$	177,283	3,002
2019	94,961		1,449
2020	43,570		530
2021	26,219		319
2022	30,675		365
Thereafter	77,464		886
Net minimum lease receipts	$	450,172	6,551

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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