| Dec'19 | Mar'18 | |||||
|---|---|---|---|---|---|---|
Cash flows from Operating Activities: | ||||||
Net income (loss) | ||||||
-10,082 | -31,336 | |||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
Depreciation and amortization expense | ||||||
108,703 | 86,625 | |||||
Loss on sale of vessels | ||||||
-18,344 | - | |||||
Amortization of deferred financing costs | ||||||
4,135 | 2,852 | |||||
Amortization of time charter hire contracts acquired | ||||||
2,389 | 240 | |||||
Loss on disposal of vessel equipment | ||||||
- | 217 | |||||
Loss on extinguishment of debt | ||||||
-3,978 | - | |||||
Amortization of the realized gain from recouponing swaps | ||||||
-5,917 | - | |||||
Stock-based compensation expense | ||||||
3,521 | - | |||||
Earnings from equity method investment | ||||||
- | 33 | |||||
Changes in assets and liabilities: | ||||||
(Increase) decrease in Due from Charterers | ||||||
38,015 | 9,265 | |||||
(Increase) decrease in inventories | ||||||
5,662 | 5,660 | |||||
(Increase) decrease in Prepaid expenses and other current assets | ||||||
5,163 | 3,559 | |||||
Cash paid for drydocking | ||||||
-17,314 | -17,115 | |||||
Decrease in Pool working capital contributions | ||||||
- | -3,320 | |||||
Dividend received from equity method investment | ||||||
- | 1,443 | |||||
Decrease (increase) in Other noncurrent assets | ||||||
-581 | 275 | |||||
Increase in Accounts payable and accrued expenses | ||||||
7,906 | 7,178 | |||||
(Decrease) increase in Deferred charter hire | ||||||
-4,054 | -607 | |||||
Net cash provided by operating activities | ||||||
63,350 | 34,025 | |||||
Cash flows from Investing Activities: | ||||||
Acquisition costs, net of cash acquired of $16,568 | ||||||
292,683 | - | |||||
Maturities of time deposits | ||||||
- | -52,530 | |||||
Transaction costs | ||||||
19,084 | - | |||||
Proceeds from sale of vessels | ||||||
31,800 | - | |||||
Payments for vessel additions | ||||||
14,385 | 3,487 | |||||
Payments for other property | ||||||
178 | 422 | |||||
Return of investment in Gemini Tankers, LLC | ||||||
- | 20 | |||||
Net cash used in investing activities | ||||||
-294,530 | 48,641 | |||||
Cash flows from Financing Activities: | ||||||
Borrowings on long-term debt | ||||||
815,000 | - | |||||
Principal payments on long-term debt | ||||||
101,452 | 74,372 | |||||
Borrowings on revolving credit facilities | ||||||
61,000 | 6,000 | |||||
Payments to retire credit facilities | ||||||
500,603 | - | |||||
Repayments on revolving credit facilities | ||||||
26,323 | - | |||||
Proceeds from partners' contributions in subsidiaries | ||||||
980 | 980 | |||||
Payments for deferred financing costs | ||||||
16,361 | 284 | |||||
Net cash (used in) provided by financing activities | ||||||
232,241 | -67,676 | |||||
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||
1,061 | 14,990 | |||||
Supplemental disclosures: | ||||||
Cash paid for interest | ||||||
45,426 | 30,560 | |||||
Common stock issued to CPLP | ||||||
236,848 | - | |||||
Unpaid vessel additions in Accounts payable and accrued expenses at the end of the period | ||||||
3,270 | 58 | |||||