| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | |||||||||
Net loss | |||||||||
-511,714 | -164,237 | -64,713 | -10,268 | -21,205 | 54,639 | 107,495 | 127,869 | 121,498 | 221,699 |
Adjustments to reconcile net loss to net cash from operating activities: | |||||||||
Depreciation and amortization of deferred charges | |||||||||
87,003 | 81,578 | 76,333 | 70,503 | 64,741 | 62,010 | 55,278 | 53,083 | 44,686 | 43,259 |
Impairment loss (Note 5) | |||||||||
442,274 | 0 | 0 | - | - | - | - | - | - | - |
Amortization of financing costs (Note 10) | |||||||||
1,455 | 1,503 | 1,364 | 519 | 473 | 379 | 278 | - | - | - |
Amortization of financing costs | |||||||||
- | - | - | - | - | - | - | 263 | 65 | 86 |
Amortization of free lubricants benefit | |||||||||
0 | 15 | 85 | 129 | 98 | 180 | 115 | 171 | 177 | 124 |
Compensation cost on restricted stock (Note 9(d)) | |||||||||
8,232 | 8,313 | 8,279 | 7,744 | 8,203 | 8,645 | 8,095 | 7,482 | 3,944 | 1,113 |
Actuarial gain/(loss) | |||||||||
-109 | 84 | -1,016 | 911 | 30 | -306 | 96 | 82 | - | - |
Gain from insurance recoveries, net of other loss (Note 5) | |||||||||
10,879 | 0 | 0 | - | - | - | - | - | - | - |
Insurance settlements for vessel un-repaired damages | |||||||||
- | - | - | - | - | - | - | - | - | 945 |
Actuarial losses | |||||||||
- | - | - | - | - | - | - | - | 116 | -72 |
Change in fair value of derivative instruments | |||||||||
- | - | - | -378 | -616 | -36 | 39 | 804 | 187 | - |
Gain on shipbuilding contract termination | |||||||||
0 | 278 | 0 | 0 | - | - | - | - | - | - |
Loss from equity method investments, net of dividends (Note 3) | |||||||||
-5,607 | -56,377 | -5,133 | 12,668 | -5,094 | -2,273 | 707 | 0 | 0 | - |
(Increase) / Decrease in: | |||||||||
Receivables | |||||||||
-966 | 1,391 | -1,871 | 5,682 | -5,889 | 1,022 | 5,982 | 284 | -1,463 | -176 |
Due from related parties | |||||||||
141 | -3,334 | -2,070 | 604 | -294 | 350 | -24 | 0 | 0 | - |
Inventories | |||||||||
-90 | -391 | -1,062 | 1,354 | 684 | 467 | 737 | 1,237 | -315 | 1,044 |
Prepaid expenses and other assets | |||||||||
-142 | -620 | 349 | 1,091 | -345 | 2,514 | 1,404 | 686 | -765 | 865 |
Prepaid charter revenue (Notes 2(k) and 8) | |||||||||
- | - | - | - | -5,353 | -3,056 | -3,050 | -3,048 | 14,507 | - |
Other non-current assets | |||||||||
- | - | - | -793 | 793 | - | - | - | - | - |
Increase / (Decrease) in: | |||||||||
Other assets | |||||||||
- | - | - | - | - | - | - | - | - | 712 |
Accounts payable | |||||||||
1,382 | -2,391 | -739 | 2,293 | 416 | -134 | 1,833 | 1,231 | 303 | 507 |
Due to related parties | |||||||||
246 | -39 | -217 | 60 | -43 | 38 | -53 | 70 | 32 | 16 |
Accrued liabilities, net of accrued preferred dividends | |||||||||
2,512 | -715 | 437 | -11 | -479 | 533 | 297 | 1,355 | 343 | -528 |
Deferred revenue | |||||||||
2,385 | -1,592 | -865 | -1 | -451 | 5,309 | 9,489 | 11,474 | 4,941 | 1,783 |
Other liabilities | |||||||||
162 | 117 | -643 | 554 | 135 | 99 | -489 | 402 | 236 | -502 |
Drydock costs | |||||||||
6,418 | 2,489 | 6,009 | 4,461 | 46 | 2,080 | 3,087 | 3,381 | 2,193 | 698 |
Net cash provided by / (used in) Operating Activities | |||||||||
23,413 | -20,998 | 23,945 | 44,910 | 67,400 | 119,886 | 154,230 | 178,292 | 151,903 | 261,151 |
Cash Flows from Investing Activities: | |||||||||
Advances for vessels under construction and acquisitions and other vessel costs | |||||||||
- | - | - | - | - | - | - | - | -65,225 | -1,099 |
Payments for vessel acquisitions, improvements and construction (Note 5) | |||||||||
125,781 | 50,911 | 155,352 | 111,702 | 198,581 | 171,195 | 58,284 | 238,189 | 0 | - |
Proceeds from vessel sale, net of expenses (Note 5) | |||||||||
2,032 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from insurance contract, net of expenses (Note 5) | |||||||||
11,362 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from sale of investment (Note 3) | |||||||||
158 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from shipbuilding contract termination (Notes 5) | |||||||||
0 | 9,413 | 0 | 0 | - | - | - | - | - | - |
Cash disposed-off upon partial spin-off of Diana Containerships Inc. | |||||||||
- | - | - | - | - | - | 12,024 | 0 | 0 | - |
Acquisition of additional interest in Diana Containerships Inc. (Note 3(a)) | |||||||||
- | - | - | 40,000 | 0 | - | 20,000 | 0 | 0 | - |
Cash dividends from investment in Diana Containerships Inc. (Note 3(a)) | |||||||||
0 | 96 | 193 | 763 | 4,000 | 2,835 | 100 | 0 | - | - |
Loan to Diana Containerships Inc. (Note 4(b)) | |||||||||
40,000 | 0 | 0 | - | 50,000 | - | - | - | - | - |
Joint venture investment (Note 3(b)) | |||||||||
0 | 0 | 267 | 0 | 0 | - | - | - | - | - |
Cash dividends from investment in Diana Containerships Inc. | |||||||||
- | - | - | - | - | - | - | - | - | 119 |
Vessel acquisitions | |||||||||
- | - | - | - | - | - | - | - | - | -108,469 |
Real property acquisition | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Investments in time deposits | |||||||||
- | - | - | - | - | - | - | -7,690 | -7,690 | - |
Payments for plant, property and equipment (Note 6) | |||||||||
104 | 217 | 211 | 1,574 | 575 | 1,553 | 220 | 21,814 | -166 | -39 |
Proceeds from insurance settlements for vessel un-repaired damages | |||||||||
- | - | - | - | - | - | - | - | - | 945 |
Net cash used in Investing Activities | |||||||||
-152,333 | -41,619 | -155,637 | -152,513 | -245,156 | -169,913 | -90,428 | -252,313 | 73,081 | 108,662 |
Cash Flows from Financing Activities: | |||||||||
Proceeds from long-term debt (Note 7) | |||||||||
57,240 | 39,265 | 441,173 | 101,500 | 18,000 | 118,550 | 15,000 | 138,510 | 73,610 | 237,200 |
Changes in compensating cash balances | |||||||||
- | - | - | -1,500 | - | - | - | - | - | - |
Proceeds from issuance of common stock, net of expenses (Note 9(c)) | |||||||||
77,311 | 0 | 0 | - | - | - | - | - | 98,444 | - |
Proceeds from issuance of preferred stock, net of expenses (Note 10(a)) | |||||||||
- | - | - | 62,698 | 0 | - | - | - | - | - |
Cash dividends on preferred stock | |||||||||
5,769 | 5,769 | 5,769 | 3,862 | 0 | - | - | - | - | - |
Contributions from non-controlling shareholders | |||||||||
- | - | - | - | - | - | - | 35,281 | 0 | - |
Proceeds from dividend reinvestment | |||||||||
- | - | - | - | - | - | 20 | 56 | 79 | - |
Payments for repurchase of common stock (Note 9(e)) | |||||||||
0 | 0 | 2,673 | 25,349 | 0 | 6,044 | 1,187 | 0 | 0 | - |
Financing costs | |||||||||
31 | 466 | 5,482 | 527 | 452 | 557 | 45 | 1,020 | 450 | - |
Loan payments (Note 7) | |||||||||
55,164 | 42,489 | 321,240 | 48,589 | 45,783 | 31,972 | 6,330 | 35,830 | 30,100 | 97,500 |
Cash dividends | |||||||||
- | - | - | - | - | - | - | - | - | 247,001 |
Net cash provided by / (used in) Financing Activities | |||||||||
73,587 | -9,459 | 106,009 | 84,371 | -28,235 | 79,977 | 7,458 | 136,997 | 141,583 | -107,182 |
Net decrease in cash, cash equivalents and restricted cash | |||||||||
-55,333 | -72,076 | -25,683 | - | - | - | - | - | - | - |
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH | |||||||||
Net decrease in cash and cash equivalents | |||||||||
- | - | - | -23,232 | -205,991 | 29,950 | 71,260 | 62,976 | 220,405 | 45,307 |
SUPPLEMENTAL CASH FLOW INFORMATION | |||||||||
Related party loan reduction in exchange for preferred shares (Note 4(b)) | |||||||||
3,000 | 0 | 0 | - | - | - | - | - | - | - |
Interest, net of amounts capitalized | |||||||||
24,503 | 19,265 | 13,048 | 8,180 | 7,169 | 6,709 | 4,630 | 4,673 | 2,952 | 5,356 |