| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|
Cash flows from Operating Activities: | ||||||
Net income: | ||||||
17,339 | 66,854 | 60,050 | 50,561 | 45,620 | 29,836 | 18,820 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation | ||||||
30,319 | 30,395 | 24,387 | 17,822 | 13,579 | 13,616 | 13,579 |
Amortization and write-off of deferred financing fees | ||||||
5,387 | 1,984 | 1,545 | 785 | 1,050 | 590 | - |
Amortization and write-off of deferred financing fees | ||||||
- | - | - | - | - | - | 100 |
Deferred revenue amortization | ||||||
369 | -58 | 608 | 2,065 | -4,245 | 2,666 | 0 |
Amortization of fair value of acquired time charter | ||||||
7,247 | 7,268 | 218 | 0 | 0 | - | - |
Change in fair value of derivative financial instruments | ||||||
- | - | - | - | - | 5,692 | -11,256 |
Provision for doubtful debt | ||||||
- | - | - | - | 63 | 0 | 0 |
Changes in operating assets and liabilities: | ||||||
Trade receivables | ||||||
55 | -3 | 103 | -190 | -118 | -126 | -322 |
Prepayments and other assets | ||||||
315 | 178 | -94 | 250 | 178 | -184 | - |
Prepayments and other assets | ||||||
- | - | - | - | - | - | 245 |
Inventories | ||||||
-35 | 486 | -9 | 357 | 0 | 0 | - |
Due from/to related party | ||||||
-235 | -346 | 292 | 278 | -5,450 | -18,597 | 6,567 |
Trade payables | ||||||
1,584 | -1,105 | 1,808 | 310 | -3,156 | 3,804 | 307 |
Accrued liabilities | ||||||
299 | 155 | -68 | 2,636 | -1,081 | -701 | -44 |
Unearned revenue | ||||||
-2,635 | -868 | 8,104 | 2,403 | -2,116 | 2,070 | 978 |
Net cash provided by Operating Activities | ||||||
59,339 | 103,618 | 96,944 | 76,443 | 44,204 | 27,902 | 28,974 |
Cash flows from Investing Activities: | ||||||
Vessel acquisitions and other additions to vessels' cost | ||||||
0 | 37,472 | 205,045 | 404,530 | 0 | 0 | - |
Net cash used in Investing Activities | ||||||
0 | -37,472 | -205,045 | -404,530 | 0 | 0 | 0 |
Cash flows from Financing Activities: | ||||||
Decrease/ (Increase) in restricted cash | ||||||
25,000 | 0 | -1,000 | - | - | - | - |
Increase in restricted cash | ||||||
- | - | - | 2,000 | 15,227 | 4,453 | -16,982 |
Payment of common and preferred units issuance costs and other filing costs | ||||||
0 | 119 | 65 | 1,938 | 0 | 0 | - |
Proceeds from issuance of preferred units, net of paid issuance costs | ||||||
0 | 0 | 72,446 | 0 | 0 | - | - |
Payment of securities registration and other filing costs | ||||||
145 | 0 | 0 | - | - | - | - |
Proceeds from issuance of common units, net of paid issuance costs | ||||||
- | - | - | 120,514 | 138,800 | 0 | 0 |
Proceeds from issuance of general partner units | ||||||
- | - | - | 126 | 0 | 0 | - |
Preferential deemed dividend | ||||||
- | - | - | 88,122 | 0 | 0 | - |
Distributions declared and paid | ||||||
66,857 | 66,856 | 62,207 | 43,010 | 0 | 0 | - |
Proceeds from long-term debt | ||||||
480,000 | 66,667 | 133,333 | 590,000 | 214,085 | 220,000 | 0 |
Repayment of long-term debt | ||||||
474,900 | 32,500 | 20,000 | 229,085 | 380,715 | 124,890 | 22,540 |
Loan from related party | ||||||
- | - | - | - | - | - | 0 |
Repayment of stockholders' loan | ||||||
- | - | - | - | - | 116,584 | 23,416 |
Loan from/ (Repayment of loan to) related party | ||||||
- | - | - | -5,500 | 5,500 | 0 | - |
Payment of deferred finance fees | ||||||
12,568 | 36 | 2,062 | 6,626 | 970 | 1,975 | 0 |
Net cash used in Financing Activities | ||||||
-49,470 | -32,844 | 120,445 | 334,359 | -38,527 | -27,902 | -28,974 |
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH | ||||||
Net increase in cash and cash equivalents | ||||||
9,869 | 33,302 | 12,344 | 6,272 | 5,677 | 0 | 0 |
Interest | ||||||
39,796 | 32,781 | 25,798 | 10,724 | 9,487 | 7,775 | 3,797 |
Vessel acquisitions | ||||||
0 | 0 | 35,000 | 0 | - | - | - |