| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | ||||||
Net income | ||||||
-830 | -88,940 | -106,088 | -18,223 | 173,170 | -119,099 | |
Items included in net income not affecting cash flows: | ||||||
Depreciation and amortization | ||||||
75,653 | 72,428 | 78,853 | 79,885 | 81,653 | 84,931 | |
Loss on write-down of vessels and other assets | ||||||
- | 19,037 | 88,408 | 79,242 | - | - | |
Amortization of debt discount and other deferred financing costs | ||||||
6,920 | 6,212 | 6,423 | 6,643 | 5,835 | 2,009 | |
Deferred financing costs write-off | ||||||
3,558 | 2,400 | 7,020 | 5,097 | - | - | |
Stock compensation, non-cash | ||||||
4,278 | 3,162 | 3,808 | 2,841 | 2,811 | 571 | |
Deferred income tax benefit | ||||||
- | - | - | - | - | -10 | |
Earnings of affiliated companies | ||||||
30,266 | 29,201 | 49,427 | 17,816 | 44,654 | 32,549 | |
Release other comprehensive loss upon sale of investment in affiliated companies | ||||||
-21,615 | - | - | - | - | - | |
Change in fair value of interest rate collar recorded through earnings | ||||||
923 | - | - | - | - | - | |
Allocated reorganization items, non-cash | ||||||
- | - | - | 131 | 5,659 | 87,197 | |
Other - net | ||||||
-1,461 | -448 | -131 | -517 | 41 | -106 | |
Items included in net income related to investing and financing activities: | ||||||
Gain on disposal of vessels and other property, net | ||||||
-308 | -643 | 1,553 | 39 | 4,459 | 9,955 | |
Gain on sale of investment in affiliated companies | ||||||
3,033 | - | - | - | - | - | |
Allocated general and administrative costs, non-cash | ||||||
- | - | - | 1,146 | 954 | 3,359 | |
Loss on repurchase of debt | ||||||
- | - | - | 3,755 | - | - | |
Loss on extinguishment of debt | ||||||
-1,100 | -1,295 | - | - | - | - | |
Cash distributions from affiliated companies | ||||||
13,855 | 43,622 | 21,220 | 12,166 | 43,488 | 6,306 | |
Payments for drydocking | ||||||
19,546 | 4,520 | 21,396 | 9,258 | 20,728 | 12,078 | |
Insurance claims proceeds related to vessel operations | ||||||
2,179 | 5,436 | 1,964 | 1,942 | 739 | - | |
Bankruptcy claim payments | ||||||
- | - | - | - | - | 285,322 | |
Deferred financing costs paid for loan modification | ||||||
- | - | - | 8,273 | 5,545 | - | |
Changes in operating assets and liabilities: | ||||||
Increase in receivables | ||||||
-10,778 | 36,436 | -8,730 | -8,033 | -13,398 | -39,392 | |
Decrease in payable to OSG | ||||||
- | - | - | -10,667 | 5,733 | -21,262 | |
Decrease in deferred revenue | ||||||
-25 | -893 | -4,730 | 4,421 | - | - | |
Net change in inventories, prepaid expenses and other current assets and accounts payable, accrued expense, and other current and long-term liabilities | ||||||
404 | -7,173 | -15,968 | -5,073 | 2,226 | 9,415 | |
Net cash provided by operating activities | ||||||
87,486 | -12,480 | 17,395 | 128,960 | 260,239 | -253,295 | |
Cash Flows from Investing Activities: | ||||||
Expenditures for vessels and vessel improvements | ||||||
36,607 | 148,946 | 173,535 | 1,988 | 964 | 21,454 | |
(Increase)/decrease in restricted cash | ||||||
- | - | - | - | - | 70,093 | |
Proceeds from disposal of vessels and other property | ||||||
15,767 | 169,292 | 18,344 | - | 17,058 | 78,426 | |
Expenditures for other property | ||||||
574 | 1,096 | 406 | 907 | - | - | |
Proceeds from sale of investment in affiliated companies | ||||||
122,755 | - | - | - | - | - | |
Investments in and advances to affiliated companies, net | ||||||
-2,338 | -3,679 | 731 | 987 | 153 | - | |
Repayments of advances from affiliated companies | ||||||
4,195 | 100,780 | 19,530 | 6,334 | - | 29,722 | |
Other - net | ||||||
- | - | - | - | 382 | 240 | |
Net cash (used in)/provided by investing activities | ||||||
107,874 | 123,709 | -136,798 | 2,452 | 15,559 | 16,361 | |
Cash Flows from Financing Activities: | ||||||
Issuance of debt, net of issuance and deferred financing costs | ||||||
-100 | 70,120 | 614,933 | - | - | 605,561 | |
Extinguishment of debt | ||||||
110,000 | 62,069 | 458,416 | 65,167 | - | - | |
Payments on debt | ||||||
49,911 | 71,610 | 54,983 | -90,065 | -6,284 | -317,411 | |
Premium on extinguishment of debt | ||||||
2,092 | - | - | - | - | - | |
Net change in investment of OSG | ||||||
- | - | - | - | - | -53,225 | |
Dividend payments to OSG | ||||||
- | - | - | 202,000 | 200,000 | - | |
Repurchases of common stock | ||||||
- | - | 3,177 | - | - | - | |
Cash paid to tax authority upon vesting of stock-based compensation | ||||||
369 | 410 | 349 | 26 | - | - | |
Other - net | ||||||
-289 | -222 | - | - | - | - | |
Net cash used in financing activities | ||||||
-162,761 | -64,191 | 98,008 | -357,258 | -206,284 | 241,231 | |
Net (decrease)/increase in cash, cash equivalents and restricted cash | ||||||
32,599 | 47,038 | -21,395 | -225,846 | 69,514 | 4,297 | |