| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|
Net (loss) income | |||||||||
-264,322 | 117,514 | 124,380 | 86,255 | 69,499 | -83,775 | -529,010 | 164,004 | 105,472 | 700,954 |
Net loss from discontinued operations | |||||||||
0 | 0 | -131,006 | -51,159 | 0 | - | - | - | - | - |
Net (loss) income from continuing operations | |||||||||
-264,322 | 117,514 | 255,386 | 137,414 | 69,499 | - | - | - | - | - |
Depreciation | |||||||||
141,748 | 141,043 | 52,607 | 31,845 | 25,144 | 114,845 | 195,597 | 212,851 | 237,313 | 223,519 |
Amortization of deferred charges | |||||||||
1,913 | 2,027 | 1,917 | 677 | 2,085 | 543 | 6,922 | 1,436 | 1,282 | 550 |
Other operating losses (gains) | |||||||||
2,378 | -2,683 | 108,923 | 68,989 | 57,271 | - | - | - | - | - |
Gain on cancellation and sale of newbuilding contracts | |||||||||
2,378 | -2,683 | 108,923 | - | 57,271 | - | - | - | - | - |
Gain on sale of shares | |||||||||
1,061 | 0 | 0 | 16,850 | 0 | - | - | - | - | - |
Amortization of time charter contract value | |||||||||
0 | -6,799 | 816 | 2,822 | 2,822 | - | - | - | - | - |
Amortization of debt discount | |||||||||
- | - | - | - | - | 0 | 0 | - | - | - |
Contingent rental income | |||||||||
26,148 | 18,621 | 0 | 0 | - | 0 | 0 | - | - | - |
Impairment loss on vessels and vessels held under capital lease | |||||||||
164,187 | 61,692 | 0 | 0 | - | - | - | - | - | - |
Unrealized foreign exchange loss (gain) | |||||||||
- | - | - | - | - | 3 | -73 | 138 | -686 | 2,172 |
Gain on repurchase of convertible bond debt | |||||||||
- | - | - | - | - | 4,600 | 0 | 0 | - | - |
Adjustment of derivatives and securities to market value | |||||||||
- | - | - | - | - | - | - | -9,425 | 0 | -41,379 |
Provision for uncollectible receivable | |||||||||
0 | 4,000 | 0 | 0 | - | 5,370 | 3,343 | -952 | - | - |
Share of results from associated company and gain on equity interest | |||||||||
0 | 0 | 2,727 | 16,064 | 8,783 | - | - | - | - | - |
Impairment loss on goodwill | |||||||||
112,821 | 0 | 0 | - | - | - | - | - | - | - |
Debt modification fees paid | |||||||||
- | - | - | 2,640 | 0 | - | - | - | - | - |
Debt conversion expense | |||||||||
- | - | - | - | - | 0 | 0 | - | - | - |
Loss from de-consolidation of subsidiaries | |||||||||
- | - | - | - | - | 0 | - | - | - | - |
Gain from sale of assets (including securities) | |||||||||
- | - | - | - | - | 16,813 | -311,249 | 30,935 | 3,061 | 160,031 |
Equity (gains) losses of unconsolidated subsidiaries and associated companies, net of dividends received | |||||||||
- | - | - | - | - | -4 | -600 | -515 | -544 | -901 |
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | |||||||||
- | - | - | - | - | -4 | - | - | - | - |
Impairment loss on marketable securities | |||||||||
0 | 7,233 | 10,507 | 0 | 0 | 32,042 | 121,443 | 0 | 0 | - |
Mark to market (gain) loss on derivatives | |||||||||
93 | 8,017 | -3,618 | -5,765 | 7,425 | - | - | - | - | - |
Dividends received from Avance Gas | |||||||||
0 | 0 | 4,101 | 7,052 | 0 | - | - | - | - | - |
Other, net | |||||||||
1,953 | -1,232 | 1,015 | 339 | 50 | 168 | -8,560 | -4,320 | -2,612 | - |
Other, net | |||||||||
- | - | - | - | - | - | - | - | - | 2,223 |
Trade accounts receivable | |||||||||
506 | -4,287 | 21,037 | 6,116 | 4,051 | -13,557 | -6,967 | 10,083 | -15,689 | 764 |
Other receivables | |||||||||
-2,122 | -10,833 | 5,049 | -1 | 428 | 816 | -2,800 | -32,690 | 33,441 | -11,746 |
Inventories | |||||||||
24,079 | 12,241 | -9,367 | 2,917 | 2,844 | 20,107 | -17,592 | 25,021 | -7,131 | -13,212 |
Voyages in progress | |||||||||
-7,084 | -6,828 | -15,505 | 10,021 | 1,182 | 29,648 | -2,638 | -5,271 | -25,673 | -2,447 |
Prepaid expenses and accrued income | |||||||||
429 | 1,427 | -5,892 | 1,494 | 514 | -1,430 | -2,479 | -6,543 | 4,516 | 1,683 |
Other current assets | |||||||||
1 | -406 | 405 | 0 | 0 | - | - | - | - | - |
Trade accounts payable | |||||||||
7,485 | -5,175 | 2,832 | 145 | -5 | 1,819 | -7,718 | -23,149 | 9,541 | 10,990 |
Accrued expenses | |||||||||
12,645 | -2,936 | -7,771 | -2,443 | 6,441 | -6,632 | -22,172 | 6,786 | -6,895 | -12,852 |
Deferred charter revenue and other current liabilities | |||||||||
- | - | - | - | - | -548 | -7,794 | -16,929 | -3,382 | 3,432 |
Related party balances | |||||||||
3,062 | -10,707 | -8,601 | -1,715 | -189 | 58,397 | -39,208 | -5,873 | -30,658 | -466 |
Other current liabilities | |||||||||
-6,178 | -5,583 | 5,574 | 1,169 | -492 | - | - | - | - | - |
Other | |||||||||
-660 | -207 | 868 | 0 | 0 | -3,341 | 388 | 7,210 | -2,754 | 6,582 |
Cash (used in) provided by operating activities of discontinued operations | |||||||||
0 | 0 | -6,410 | 661 | 0 | - | - | - | - | - |
Net cash provided by operating activities | |||||||||
130,485 | 286,015 | 207,346 | 58,641 | 22,857 | 68,574 | 56,853 | 314,911 | 321,520 | 826,803 |
Investing activities | |||||||||
Change in restricted cash | |||||||||
64 | 309 | -35,713 | 35,800 | 0 | -13,060 | -155,581 | -256,535 | -75,620 | 2,579 |
Additions to newbuildings, vessels and equipment | |||||||||
713,560 | 622,460 | 786,772 | 202,231 | 189,341 | 14,503 | 82,378 | 548,946 | 170,049 | 657,443 |
Refund of newbuilding installments and interest | |||||||||
0 | 43,497 | 58,793 | 173,840 | 144,592 | - | - | - | - | - |
Purchase of shares | |||||||||
46,100 | 0 | 0 | - | - | - | - | - | - | - |
Sale proceeds received in advance | |||||||||
- | - | - | 139,200 | 0 | - | - | - | - | - |
Finance lease payments received | |||||||||
- | - | - | - | - | 1,824 | 1,535 | 1,277 | 0 | - |
Proceeds from sale of newbuilding vessels | |||||||||
0 | 173,187 | 456,366 | 0 | 0 | 10,174 | 209,028 | 11,061 | 2,390 | 128,264 |
Dividends received from associated companies | |||||||||
- | - | - | - | - | - | 511 | 0 | 0 | 265 |
Cash acquired upon the Merger | |||||||||
0 | 0 | 87,443 | 0 | 0 | -250 | 0 | 0 | - | - |
Finance lease payments received | |||||||||
9,745 | 9,333 | 0 | 0 | - | - | - | - | - | - |
Investment in associated companies | |||||||||
- | - | - | - | 104,062 | 13,298 | 25,047 | 0 | 0 | - |
Proceeds from sale of shares | |||||||||
27,412 | 0 | 0 | 57,140 | 0 | 0 | 0 | - | - | - |
Cash used in investing activities of discontinued operations | |||||||||
0 | 0 | -310,822 | -195,658 | -135,404 | - | - | - | - | - |
Impact of re-consolidation of subsidiaries | |||||||||
- | - | - | - | - | 0 | - | - | - | - |
Receipts from finance leases and loans receivable | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Purchases of other assets | |||||||||
- | - | - | - | - | - | - | - | - | 109,360 |
Proceeds from sale of other assets | |||||||||
- | - | - | - | - | - | -46,547 | -19,839 | 0 | -3,286 |
Proceeds from issuance of shares in subsidiary | |||||||||
- | - | - | - | - | - | - | - | - | 10,941 |
Proceeds from sale of shares in subsidiaries | |||||||||
- | - | - | - | - | 0 | 128,882 | 100 | 0 | 0 |
Net cash used in investing activities | |||||||||
-722,567 | -396,752 | -459,279 | -63,509 | -284,215 | -2,993 | 434,659 | -260,134 | -92,039 | -626,626 |
Financing activities | |||||||||
Fees paid on early redemption of debt | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Net proceeds from issuance of shares | |||||||||
0 | 98,200 | 0 | 0 | 527,791 | 0 | 0 | - | - | 208,123 |
Proceeds from issuance of debt | |||||||||
673,416 | 356,066 | 659,700 | 124,000 | 45,500 | 0 | 72,000 | 649,729 | 243,771 | 520,178 |
Repayment of long-term debt | |||||||||
83,951 | 169,883 | 427,338 | 198,889 | 93,931 | 24,921 | 256,527 | 169,953 | 267,336 | 87,370 |
Repayment of capital leases | |||||||||
31,854 | 61,677 | 5,491 | 0 | 0 | 64,068 | 295,501 | 280,579 | 241,198 | 171,900 |
Lease termination receipts / (payments) | |||||||||
-19,006 | 0 | 3,266 | 0 | 0 | 445 | -8,987 | - | - | - |
Payment of related party loan note | |||||||||
0 | 0 | 112,687 | 0 | 0 | 0 | 0 | - | - | - |
Payments of Financing Costs | |||||||||
3,495 | 9,523 | 485 | 500 | 1,538 | 0 | 1,441 | 4,192 | 2,888 | 4,928 |
Dividends paid | |||||||||
51,401 | 164,551 | 39,228 | 36,969 | 1,439 | - | - | - | - | - |
Payment for fractional shares on reverse share split | |||||||||
0 | 17 | 0 | 0 | - | - | - | - | - | - |
Proceeds from secured short-term borrowings | |||||||||
10,116 | 0 | 0 | - | - | - | - | - | - | - |
Acquisition of treasury shares | |||||||||
- | - | - | 50,397 | - | - | - | - | - | - |
Acquisition of treasury shares | |||||||||
- | - | - | - | 0 | - | - | - | - | - |
Cash provided by financing activities of discontinued operations | |||||||||
0 | 0 | 141,775 | 116,819 | 0 | - | - | - | - | - |
Cash dividends paid | |||||||||
- | - | - | - | - | - | 17,129 | 155,718 | 70,074 | 641,893 |
Net cash provided by financing activities | |||||||||
493,825 | 48,615 | 219,512 | -45,936 | 476,383 | -88,544 | -507,585 | 39,287 | -337,725 | -177,790 |
Net change in cash and cash equivalents | |||||||||
-98,257 | -62,122 | -32,421 | -50,804 | 215,025 | -22,963 | -16,073 | 94,064 | -108,244 | 22,387 |
Interest paid, net of interest capitalized | |||||||||
57,291 | 53,474 | 17,544 | 8,744 | 9,576 | 98,991 | 150,652 | 165,951 | 186,873 | 202,840 |
Income taxes paid | |||||||||
1,222 | 716 | 0 | 0 | 0 | 518 | 406 | 563 | 383 | 372 |