| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|
Cash Flows From Operating Activities: | ||||||||
Net income: | ||||||||
72,876 | 81,702 | 143,764 | 115,087 | 103,087 | 81,129 | 87,592 | 81,224 | 116,929 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation | ||||||||
96,448 | 100,943 | 101,645 | 105,787 | 89,958 | 80,333 | 78,803 | 70,887 | 71,148 |
Allowance for doubtful amounts | ||||||||
- | - | - | 2,888 | 3,703 | 0 | 0 | - | - |
Other non-current assets | ||||||||
0 | 4,000 | 0 | 0 | - | - | - | - | - |
Amortization of debt discount | ||||||||
-715 | -659 | -798 | 0 | 0 | - | - | - | - |
Amortization of prepaid lease rentals, net | ||||||||
8,429 | 6,779 | 4,982 | - | - | - | - | - | - |
Amortization of prepaid lease rentals | ||||||||
- | - | - | 4,024 | 0 | 0 | - | - | - |
Amortization and write-off of financing costs | ||||||||
2,236 | 2,613 | 1,896 | 4,107 | 1,569 | 1,157 | 2,747 | 1,827 | 746 |
Amortization of deferred dry-docking and special survey costs | ||||||||
7,627 | 7,920 | 7,425 | 7,814 | 8,084 | 8,179 | 8,139 | 8,465 | - |
Equity based payments | ||||||||
3,866 | 4,951 | 8,623 | 0 | 0 | - | - | - | - |
Amortization of deferred drydocking and special survey | ||||||||
- | - | - | - | - | - | - | - | 7,986 |
Amortization of unearned revenue | ||||||||
- | - | - | - | - | -431 | -650 | -650 | -3,378 |
Net settlements on interest rate swaps qualifying for cash flow hedge | ||||||||
- | - | - | 489 | 3,253 | 3,196 | 2,752 | 0 | 0 |
Gain on derivative instruments, net | ||||||||
1,296 | 4,509 | 16,856 | 5,469 | 6,548 | -462 | -8,709 | -4,459 | 5,595 |
Loss on sale / disposal of vessels, net | ||||||||
-4,856 | -4,440 | 1,688 | -2,543 | -518 | 2,796 | -13,077 | -9,588 | - |
Loss on vessel held for sale | ||||||||
-2,379 | -37,161 | 0 | 0 | - | - | - | - | - |
Vessels impairment loss | ||||||||
17,959 | 0 | 0 | - | - | - | - | - | - |
Gain on sale/disposal of vessels, net | ||||||||
- | - | - | - | - | - | - | - | -2,854 |
Loss on sale of investments | ||||||||
- | - | - | - | - | - | -8 | 148 | 108 |
Equity gain on investments | ||||||||
3,381 | -78 | -529 | -3,428 | 692 | 0 | 0 | - | - |
Dividend from equity method investees | ||||||||
4,500 | 0 | 0 | 31,828 | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
578 | 10 | -1,254 | -13,705 | 22,737 | 87 | -1,210 | 225 | 2,039 |
Due from related parties | ||||||||
1,826 | -2,565 | 1,565 | 1,768 | 63 | -969 | 2,288 | -7,009 | -4,538 |
Inventories | ||||||||
-1,753 | 837 | -987 | 560 | 1,607 | 63 | -199 | -1,945 | -1,108 |
Insurance claims receivable | ||||||||
-795 | -1,020 | 2,147 | 330 | -25 | -1,622 | 2,329 | 71 | -2,472 |
Prepayments and other | ||||||||
1,783 | 368 | -1,447 | 2,543 | 854 | -48 | -518 | 763 | -431 |
Accounts payable | ||||||||
2,466 | -199 | -2,249 | 482 | -68 | 1,825 | -71 | -4,694 | 4,996 |
Due to related parties | ||||||||
12 | -180 | 371 | 0 | 0 | - | - | -7,253 | 6,983 |
Accrued liabilities | ||||||||
-1,969 | -6,669 | 4,087 | 2,731 | 4,337 | -1,162 | 665 | 1,995 | -8,447 |
Unearned revenue | ||||||||
-2,335 | -545 | 373 | 900 | 3,194 | -901 | 2,888 | 529 | -3,906 |
Other current liabilities | ||||||||
-46 | -39 | -574 | -854 | 277 | 344 | 677 | -701 | -692 |
Dry-dockings | ||||||||
5,582 | 5,868 | 9,461 | 10,150 | 6,189 | 11,171 | 6,122 | 12,705 | 6,051 |
Accrued charter revenue | ||||||||
11,204 | 7,730 | -2,618 | -7,023 | -14,976 | -6,261 | -30,313 | 13,596 | 22,374 |
Net Cash provided by Operating Activities | ||||||||
190,987 | 226,559 | 244,663 | 243,270 | 186,681 | 168,114 | 195,179 | 127,946 | 161,893 |
Cash Flows From Investing Activities: | ||||||||
Equity method investments | ||||||||
9,890 | 35,273 | 44,881 | 85,103 | 8,707 | 0 | 0 | - | - |
Debt securities capital redemption | ||||||||
0 | 46 | 0 | 0 | - | - | - | - | - |
Advances for vessel acquisitions | ||||||||
- | - | - | 59,058 | 590,431 | 191,179 | 148,373 | 3,830 | 47,903 |
Vessel acquisitions and advances / Additions to vessel cost | ||||||||
64,231 | 2,792 | 2,758 | 28,984 | 51,853 | 74,053 | 190,209 | 50,781 | 8,864 |
Vessel acquisitions/addition to vessel cost | ||||||||
64,231 | 2,792 | 2,758 | - | - | - | - | - | 8,864 |
Proceeds from sale of available for sale securities | ||||||||
- | - | - | - | - | - | 6,082 | 8,030 | 21,421 |
Proceeds from the sale of vessels, net | ||||||||
26,951 | 3,629 | 4,655 | -22,054 | -13,891 | -28,723 | -48,742 | -22,731 | -48,157 |
Proceeds from the sale of subsidiary | ||||||||
- | - | - | - | 16,044 | 0 | 0 | - | - |
Dividend from affiliate | ||||||||
- | - | - | - | 0 | 0 | - | - | - |
Net Cash used in Investing Activities | ||||||||
-42,670 | -34,390 | -42,984 | -119,263 | -621,056 | -236,509 | -283,758 | -23,850 | 12,811 |
Cash Flows From Financing Activities: | ||||||||
Proceeds from Initial Public Offering, net of related expenses | ||||||||
- | - | - | - | - | - | - | 148,827 | 0 |
Initial Public Offering costs | ||||||||
- | - | - | - | - | - | - | 3,284 | 0 |
Stockholders' contributions | ||||||||
- | - | - | - | - | - | - | 2,400 | 0 |
Offering proceeds, net of related expenses | ||||||||
91,675 | 69,037 | 96,616 | 96,523 | 48,042 | 194,131 | 0 | 0 | - |
Proceeds from long-term debt and capital leases | ||||||||
61,625 | 222,848 | 0 | - | - | - | - | - | - |
Repayment of long-term debt and capital leases | ||||||||
253,804 | 357,401 | 210,359 | - | - | - | - | - | - |
Capital lease proceeds | ||||||||
- | - | - | 256,716 | 0 | 0 | - | - | - |
Capital lease repayment | ||||||||
- | - | - | 9,583 | 0 | 0 | - | - | - |
Proceeds from long-term debt | ||||||||
- | - | - | 9,000 | 469,356 | 288,639 | 226,293 | 0 | 30,000 |
Repayment of long-term debt | ||||||||
- | - | - | 356,635 | 163,669 | 170,170 | 124,610 | 93,856 | 124,355 |
Payment of financing costs | ||||||||
1,733 | 3,907 | 0 | 2,055 | 210 | 547 | 9,233 | 3,256 | 150 |
Dividends paid | ||||||||
37,758 | 75,003 | 102,287 | 93,074 | 81,515 | 73,089 | 61,506 | 10,000 | 30,230 |
Distribution paid to stockholders with reorganization | ||||||||
- | - | - | - | - | - | - | - | 131,000 |
Decrease / (Increase) in restricted cash | ||||||||
-5,766 | -17,050 | -1,367 | 5,189 | 11,571 | 1,244 | 4,143 | -2,565 | -3,051 |
Net Cash used in Financing Activities | ||||||||
-134,229 | -127,376 | -214,663 | -104,297 | 260,433 | 237,720 | 26,801 | 43,396 | -252,684 |
Net increase / (decrease) in cash and cash equivalents | ||||||||
14,088 | 64,793 | -12,984 | 19,710 | -173,942 | 169,325 | -61,778 | 147,492 | -77,980 |
Supplemental Cash Flow Information: | ||||||||
Cash paid during the period for interest | ||||||||
56,070 | 51,186 | 45,213 | 46,043 | 31,215 | 28,269 | 20,783 | 19,896 | - |
Cash paid during the period for interest | ||||||||
- | - | - | - | - | - | - | - | 52,176 |