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2012 AND 2011 QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended 3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Jun. 30, 2012
As Reported [Member]
Mar. 31, 2012
As Reported [Member]
Dec. 31, 2011
As Reported [Member]
Sep. 30, 2011
As Reported [Member]
Jun. 30, 2011
As Reported [Member]
Mar. 31, 2011
As Reported [Member]
Dec. 31, 2012
As Restated [Member]
Sep. 30, 2012
As Restated [Member]
Jun. 30, 2012
As Restated [Member]
Mar. 31, 2012
As Restated [Member]
Dec. 31, 2011
As Restated [Member]
Sep. 30, 2011
As Restated [Member]
Jun. 30, 2011
As Restated [Member]
Mar. 31, 2011
As Restated [Member]
Shipping revenues $ 1,137,134 $ 1,049,531 $ 1,045,610   $ 291,354 $ 292,378 $ 257,746 $ 256,379 $ 271,738 $ 263,668 $ 255,897 [1] $ 297,505 [1] $ 291,354 $ 292,378 $ 257,746 $ 256,379 $ 271,738 $ 263,668
Gain/(loss) on disposal of vessels, including impairments (271,359) 2,060 (28,622)   285 106 1,706 (233) 1,455 (868) (271,418) [1] (332) [1] 285 106 1,706 (233) 1,455 (868)
Total operating expenses 1,516,367 1,191,719 1,124,905   321,793 316,020 297,675 308,751 295,784 289,509 567,121 [1] 311,433 [1] 321,793 316,020 297,675 308,751 295,784 289,509
Loss from vessel operations (379,233) (142,188) (79,295)   (30,439) (23,642) (39,929) (52,372) (24,046) (25,841) (311,224) [1] (13,928) [1] (30,439) (23,642) (39,929) (52,372) (24,046) (25,841)
Equity in income of affiliated companies 33,486 20,555 3,593   5,538 7,080 8,959 3,523 3,930 5,642 11,308 [1] 9,869 [1] 5,401 6,908 8,779 2,204 3,930 5,642
Interest Expense 93,421 79,898 67,044   22,084 23,010 21,928 21,097 19,134 17,739 25,013 [1] 23,314 [1] 22,084 23,010 21,928 21,097 19,134 17,739
Reorganization items, net 41,113 0 0   0 0         41,113 [1] 0 [1] 0 0        
Income Tax Benefit/(Provision) 1,481 (1,986) 19,157   (1,857) 1,347 1,857 329 1,220 1,556 1,203 [1] (105) [1] 911 (528) (5,437) 10,206 6,621 (13,376)
Net loss (480,114) (201,363) [2] (122,542) [2]   (55,326) (34,813) (49,970) (71,080) (37,308) (34,558) (364,773) (25,786) [1] (52,695) (36,860) (57,444) (62,522) (31,907) (49,490)
Comprehensive loss (474,588) (243,782) (138,666)   (61,106) (21,132) (50,928) (94,913) (46,851) (25,127) (357,305) [1] (24,947) [1] (65,047) (27,290) (61,507) (100,766) (41,450) (40,059)
Basic net loss per share (in dollars per share) $ (15.82) $ (6.67) $ (4.15)   $ (1.83) $ (1.15) $ (1.65) $ (2.35) $ (1.24) $ (1.15) $ (12.01) [1] $ (0.85) [1] $ (1.74) $ (1.22) $ (1.90) $ (2.07) $ (1.06) $ (1.64)
Diluted net loss per share (in dollars per share) $ (15.82) $ (6.67) $ (4.15)   $ (1.83) $ (1.15) $ (1.65) $ (2.35) $ (1.24) $ (1.15) $ (12.01) [1] $ (0.85) [1] $ (1.74) $ (1.22) $ (1.90) $ (2.07) $ (1.06) $ (1.64)
Cash and cash equivalents 507,342 54,877 253,649 474,690 226,554 213,353 54,877 156,347 204,276 257,681 507,342 [1] 566,880 [1] 226,554 213,353 54,877 156,347 204,276 257,681
Other receivables, including income taxes recoverable         48,994 51,763 52,337 57,149 61,996 59,827 28,900 [1] 26,118 [1] 28,882 30,329 30,548 35,360 40,207 38,038
Investments in affiliated companies 252,398 232,370     262,710 266,184 251,385 237,687 265,745 277,185 252,398 [1] 237,691 [1] 232,703 242,886 232,370 221,957 265,745 277,185
Vessels Deferred Dry Dock and Other Property 2,911,706 3,292,946     3,259,810 [3] 3,285,765 [3] 3,292,946 3,298,660 3,272,572 3,261,845 2,911,706 [1],[3] 3,225,380 [1],[3] 3,259,810 [3] 3,285,765 [3] 3,292,946 3,298,660 3,272,572 3,261,845
Total assets 4,043,535 3,993,545 3,854,237   4,151,334 4,201,064 4,034,349 4,155,429 4,228,472 4,266,842 4,043,535 [1] 4,384,695 [1] 4,101,215 4,156,332 3,993,545 4,117,910 4,206,683 4,245,053
Income taxes payable, including current portion of uncertain positions and deferred taxes         366 [4] 368 [4]         355,699 [1],[4] 366 [4] 366 [4] 368 [4]        
Deferred income taxes and other liabilities, including non-current reserve for uncertain tax positions         280,508 277,247 277,050 272,267 273,358 273,961 397,941 [1] 795,060 793,441 791,626 789,199 777,122 788,090 794,094
Current installments on long-term debt 0 14,990     292,412 283,097 14,990 54,879 51,785 50,844 0 [1] 1,525,266 292,412 283,097 14,990 54,879 51,785 50,844
Long-term debt 0 2,050,902     1,952,240 [5] 1,961,418 [5] 2,050,902 2,071,362 2,031,496 2,010,130 0 [1],[5] 1,049,049 [1],[5] 1,952,240 [5] 1,961,418 [5] 2,050,902 2,071,362 2,031,496 2,010,130
Liabilities Subject to Compromise 2,652,537 0     0 [5] 0 [5]         2,652,537 [1],[5] 0 [1],[5] 0 [5] 0 [5]        
Total liabilities 3,509,289 2,991,253     2,674,281 2,665,009 2,479,104 2,551,783 2,525,754 2,493,358 3,509,289 [1] 3,493,616 [1] 3,187,214 3,179,388 2,991,253 3,056,638 3,040,486 3,013,491
Paid-in additional capital 414,411 413,016     411,853 410,517 413,016 410,491 408,002 405,259 414,411 [1] 413,875 [1] 411,853 410,517 413,016 410,491 408,002 405,259
Retained earnings 1,024,480 1,504,594     1,949,892 2,005,218 2,040,031 2,090,042 2,167,861 2,231,880 1,024,480 [1] 1,389,253 [1] 1,415,039 1,467,734 1,504,594 1,562,079 1,631,340 1,689,958
Accumulated other comprehensive loss (113,781) (119,307)     (93,889) (88,110) (101,791) (100,833) (77,000) (67,457) (113,781) [1] (121,249) [1] (122,088) (109,737) (119,307) (115,244) (77,000) (67,457)
Total equity $ 534,246 $ 1,002,292 $ 1,283,153 $ 1,867,855 $ 1,477,053 $ 1,536,055 $ 1,555,245 $ 1,603,646 $ 1,702,718 $ 1,773,484 $ 534,246 [1] $ 891,079 [1] $ 914,001 $ 976,944 $ 1,002,292 $ 1,061,272 $ 1,166,197 $ 1,231,562
[1] Financial information for the third and fourth quarter or full year 2012 had not been reported prior to the aforementioned restatement.
[2] Net loss has been restated for 2011 and 2010 as more fully described in Note 2 “Company Inquiry and Restatement.”
[3] As discussed in Note 7, “Vessels, Deferred Drydock and Other Property,” impairment charges aggregating $279,382 were recorded in the fourth quarter.
[4] Income taxes payable for the quarters ended March 31, 2012 and June 30, 2012 were previously reported as a component of the balance sheet line entitled “Accounts payable, accrued expenses and other current liabilities” of $135,559 and $142,605, respectively. Disaggregated amounts for income taxes payable are presented here to conform to the September 30, 2012 and December 31, 2012 balance sheet presentation.
[5] As discussed in Note 3, “Bankruptcy Filing and Going Concern,” and Note 11, “Debt,” the Debtors filed a petition for relief under Chapter 11 and its debt agreements are classified as Liabilities Subject to Compromise. From November 14, 2012 to December 31, 2012, interest expense of $9,395 was accordingly not recorded.