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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income $ 333,453 $ 179,272 $ 95,621
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 151,095 156,166 128,777
Amortization of deferred drydocking and survey costs 111,244 86,604 51,554
Amortization of debt premiums and discounts 5,379 6,741 4,619
Amortization of below market contracts (1,200) (5,000) (3,800)
Unrealized foreign exchange loss (gain) (23,398) 14,275 945
Deferred income taxes provision (benefit) (195,816) (2,807) 92
Gain on asset dispositions, net (13,682) (15,762) (8,701)
Gain on pension settlement 0 0 (2,313)
Loss on early extinguishment of debt 27,113 0 0
Stock-based compensation expense 14,483 13,681 10,755
Changes in operating assets and liabilities, net:      
Trade and other receivables 38,433 (55,453) (109,756)
Marine operating supplies (4,621) (2,906) 1,984
Prepaid expenses and other current assets 2,068 1,584 5,813
Accounts payable (5,038) 26,454 5,985
Accrued expenses 23,275 7,393 20,072
Other current liabilities (2,712) 13,908 809
Other liabilities 2,329 (2,415) (740)
Deferred drydocking and survey costs (98,575) (133,258) (97,378)
Other, net 15,278 (6,005) (144)
Net cash provided by operating activities 379,108 282,472 104,194
Cash flows from investing activities:      
Proceeds from asset dispositions 17,619 19,338 15,506
Proceeds from sale of notes 660 8,054 0
Acquisitions, net of cash acquired 0 0 (594,191)
Additions to properties and equipment (25,761) (27,580) (31,588)
Net cash used in investing activities (7,482) (188) (610,273)
Cash flows from financing activities:      
Exercise of warrants 0 4 111,483
Issuance of long-term debt 650,000 0 575,000
Principal payments on long-term debt (641,942) (103,030) (13,677)
Purchase of common stock (90,089) (90,742) (35,025)
Payments on finance leases (6,432) 0 0
Debt extinguishment premium (19,601) 0 0
Acquisition of non-controlling interest in a majority owned subsidiary 0 0 (1,427)
Debt issuance costs (19,829) (213) (14,758)
Share based awards reacquired to pay taxes (8,066) (28,614) (6,040)
Net cash provided by (used in) financing activities (135,959) (222,595) 615,556
Net change in cash, cash equivalents and restricted cash 252,537 51,066 109,988
Cash, cash equivalents and restricted cash at beginning of period 329,031 277,965 167,977
Cash, cash equivalents and restricted cash at end of period 581,568 329,031 277,965
Effects of exchange rate changes on cash, cash equivalents and restricted cash 16,870 (8,623) 511
Supplemental disclosure of cash flow information:      
Interest, net of amounts capitalized 47,810 66,897 26,638
Income taxes 60,310 56,909 43,880
Supplemental disclosure of noncash investing activities:      
Purchase of vessels 10,727 0 14,265
Recognition of finance leases 28,658 0 0
Debt incurred for the purchase of four vessels $ 11,479 $ 0 $ 15,235