| Jun'13 | Mar'13 | Dec'12 | Sep'12 | Jun'12 | Mar'12 | |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net income | ||||||
25,064 | 32,378 | 51,099 | 34,559 | 61,226 | 38,952 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation | ||||||
14,304 | 14,033 | 14,225 | 13,583 | 13,533 | 14,261 | |
Long-term investment impairment charge | ||||||
- | 0 | 0 | 0 | 463 | 2,890 | |
Amortization of deferred charges | ||||||
2,712 | 2,591 | 1,530 | 1,500 | 1,415 | 1,421 | |
Amortization of seller's credit | ||||||
497 | 499 | 3,404 | -2,439 | 486 | 491 | |
Equity in earnings of associated companies | ||||||
7,018 | 8,512 | 10,164 | 10,668 | 11,219 | 11,441 | |
(Gain)/loss on sale of assets and termination of charters | ||||||
0 | 18,025 | 21,537 | 1,923 | 21,704 | 2,222 | |
Adjustment of derivatives to fair value recognized in net income | ||||||
6,636 | -1,978 | 592 | 6,177 | 335 | 855 | |
Loss/(gain) on repurchase of bonds | ||||||
0 | -1,109 | -251 | 0 | 49 | 80 | |
Interest receivable in form of notes | ||||||
680 | 646 | - | - | 0 | 0 | |
Other, net | ||||||
644 | 982 | -1,311 | 764 | 662 | 249 | |
Changes in operating assets and liabilities | ||||||
Trade accounts receivable | ||||||
2,630 | 1,666 | 2,255 | -651 | 3,753 | 2,430 | |
Due from related parties | ||||||
373 | -53,910 | 12,664 | 10,735 | 14,625 | 13,599 | |
Other receivables | ||||||
257 | 1,481 | 88 | 2,239 | -1,519 | 259 | |
Inventories | ||||||
239 | 73 | -691 | -453 | 728 | 513 | |
Prepaid expenses and accrued income | ||||||
-306 | 742 | -531 | -31 | 312 | 440 | |
Trade accounts payable | ||||||
-972 | -189 | 796 | -252 | 242 | -12 | |
Accrued expenses | ||||||
1,736 | -1,890 | -1,513 | 5,194 | -5,634 | 5,159 | |
Other current liabilities | ||||||
4,046 | -3,294 | -1,043 | -2,635 | -1,021 | 196 | |
Net cash provided by operating activities | ||||||
28,222 | 68,000 | 18,319 | 20,093 | 17,870 | 30,288 | |
Investing activities | ||||||
Repayments from investments in direct financing leases | ||||||
12,656 | 13,731 | 14,279 | 14,323 | 14,471 | 15,498 | |
Additions to newbuildings | ||||||
46,280 | 17,739 | 23,135 | 11,815 | 11,419 | 44,243 | |
Purchase of vessels | ||||||
0 | 0 | 76,936 | 0 | 0 | 0 | |
Proceeds/(payments) from sales of vessels and termination of charters | ||||||
0 | 40,366 | - | - | -1,883 | 25,891 | |
Net amounts received from/(paid to) associated companies | ||||||
- | 33,959 | 14,399 | 14,387 | 14,164 | 13,493 | |
Other investments and long term assets, net | ||||||
9,668 | 0 | 14,568 | 0 | -678 | 0 | |
Net cash provided by/(used in) investing activities | ||||||
-203,348 | 70,317 | -20,332 | 27,991 | 16,011 | 10,639 | |
Financing activities | ||||||
Shares issued, net of issuance costs | ||||||
128,801 | 79 | 88,911 | 685 | 0 | 0 | |
Payments in lieu of issuing shares for exercised share options | ||||||
- | 0 | -1 | 23 | 1,455 | 0 | |
(Repurchase)/resale of bonds | ||||||
0 | 248,109 | 26,591 | 0 | 764 | 741 | |
Drawdowns | ||||||
129,747 | 385,000 | 185,475 | 4,600 | 24,948 | 44,074 | |
Repayments of long-term debt | ||||||
69,889 | 263,177 | 183,155 | 56,302 | 36,306 | 42,611 | |
Debt fees paid | ||||||
511 | 7,832 | 2,428 | 116 | 204 | 1,241 | |
Cash dividends paid | ||||||
36,371 | 0 | 66,476 | 30,898 | 30,898 | 23,737 | |
Net cash used in financing activities | ||||||
151,329 | -134,039 | -4,263 | -82,054 | -44,679 | -24,256 | |
Net change in cash and cash equivalents | ||||||
-23,797 | 4,278 | -6,276 | -33,970 | -10,798 | 16,671 | |
Supplemental disclosure of cash flow information: | ||||||
Interest paid, net of capitalized interest | ||||||
17,492 | 22,434 | 24,104 | 17,518 | 26,207 | 18,863 | |