| Dec'14 | Sep'14 | Jun'14 | Mar'14 | Dec'13 | Sep'13 | Jun'13 | Mar'13 |
|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||
Net income | |||||||
87,737 | 72,291 | 59,655 | 51,453 | 42,189 | 0 | 0 | 0 |
Adjustments to reconcile net income to net cash provided by operating activities | |||||||
Depreciation and amortization | |||||||
45,809 | 44,527 | 43,120 | 40,510 | 36,608 | 0 | 0 | 0 |
Payment of drydocking costs | |||||||
5,320 | 0 | 0 | 0 | - | - | - | - |
Amortization of share-based compensation | |||||||
1,122 | 931 | 788 | 687 | 728 | 0 | 0 | 0 |
Amortization of deferred financing costs | |||||||
2,853 | 2,852 | 2,698 | 2,441 | 2,155 | 0 | 0 | 0 |
Unrealized foreign exchange | |||||||
155 | -17 | -202 | -89 | -24 | 0 | 0 | 0 |
Changes in operating assets and liabilities | |||||||
Accounts receivable | |||||||
-4,642 | -3,806 | 771 | 5,812 | 7,964 | 0 | 0 | 0 |
Bunkers and lubricant oils | |||||||
-1,114 | -3,666 | -1,166 | 1,027 | 1,103 | 0 | 0 | 0 |
Prepaid expenses and other current assets | |||||||
-2,417 | 3,496 | 3,242 | -63 | 2,276 | 0 | 0 | 0 |
Accounts payable, accrued interest and other liabilities | |||||||
-7,224 | 948 | 6,776 | 9,173 | 12,894 | 0 | 0 | 0 |
Net cash provided by operating activities | |||||||
133,114 | 119,143 | 106,269 | 94,335 | 80,015 | 0 | 0 | 0 |
Cash flows from investing activities | |||||||
Payment to acquire vessels | |||||||
3,503 | 39,913 | 153,396 | 302,860 | 426,119 | 0 | 0 | 0 |
Payment for vessels under construction | |||||||
230,066 | 109,990 | 119,043 | 58,420 | 41,291 | 0 | 0 | 0 |
Purchase of other property, plant and equipment | |||||||
108 | 125 | 154 | 78 | 93 | 0 | 0 | 0 |
Net cash used in investing activities | |||||||
-231,874 | -140,029 | -262,594 | -351,359 | -457,503 | 0 | 0 | 0 |
Cash flows from financing activities | |||||||
Issuance costs of 7.75% senior unsecured bonds | |||||||
- | - | - | - | 114 | 0 | 0 | 0 |
Direct financing cost of secured term loan facilities | |||||||
- | - | - | - | 6,867 | 0 | 0 | 0 |
Repayment of secured term loan facilities | |||||||
182,626 | 178,795 | 52,705 | 44,227 | 35,751 | 0 | 0 | 0 |
Proceeds from issuance of stock | |||||||
- | - | - | - | 246,570 | 0 | 0 | 0 |
Issuance costs of stock | |||||||
345 | 15,797 | 15,800 | 15,790 | 15,480 | 0 | 0 | 0 |
Net cash provided by/(used in) financing activities | |||||||
-33,454 | 32,161 | 228,628 | 352,321 | 431,358 | 0 | 0 | 0 |
Net decrease in cash and cash equivalents | |||||||
-132,214 | 11,275 | 72,303 | 95,297 | 53,870 | 0 | 0 | 0 |
Supplemental Information | |||||||
Total interest paid during the period, net of amounts capitalized | |||||||
25,449 | 27,961 | 26,936 | 25,560 | 23,038 | 0 | 0 | 0 |
Total tax paid during the period | |||||||
560 | 469 | 465 | 227 | 171 | 0 | 0 | 0 |