| Jun'13 | Mar'13 | Dec'12 | Sep'12 | Jun'12 | Mar'12 | |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net income | ||||||
143,100 | 179,262 | 185,836 | 0 | 0 | 0 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation | ||||||
56,145 | 55,374 | 55,602 | 0 | 0 | 0 | |
Long-term investment impairment charge | ||||||
- | 463 | 3,353 | 0 | 0 | 0 | |
Amortization of deferred charges | ||||||
8,333 | 7,036 | 5,866 | 0 | 0 | 0 | |
Amortization of seller's credit | ||||||
1,961 | 1,950 | 1,942 | 0 | 0 | 0 | |
Equity in earnings of associated companies | ||||||
36,362 | 40,563 | 43,492 | 0 | 0 | 0 | |
(Gain)/loss on sale of assets and termination of charters | ||||||
41,485 | 63,189 | 47,386 | 0 | 0 | 0 | |
Adjustment of derivatives to fair value recognized in net income | ||||||
11,427 | 5,126 | 7,959 | 0 | 0 | 0 | |
Loss/(gain) on repurchase of bonds | ||||||
-1,360 | -1,311 | -122 | 0 | 0 | 0 | |
Interest receivable in form of notes | ||||||
0 | 0 | - | - | 0 | 0 | |
Other, net | ||||||
1,079 | 1,097 | 364 | 0 | 0 | 0 | |
Changes in operating assets and liabilities | ||||||
Trade accounts receivable | ||||||
5,900 | 7,023 | 7,787 | 0 | 0 | 0 | |
Due from related parties | ||||||
-30,138 | -15,886 | 51,623 | 0 | 0 | 0 | |
Other receivables | ||||||
4,065 | 2,289 | 1,067 | 0 | 0 | 0 | |
Inventories | ||||||
-832 | -343 | 97 | 0 | 0 | 0 | |
Prepaid expenses and accrued income | ||||||
-126 | 492 | 190 | 0 | 0 | 0 | |
Trade accounts payable | ||||||
-617 | 597 | 774 | 0 | 0 | 0 | |
Accrued expenses | ||||||
3,527 | -3,843 | 3,206 | 0 | 0 | 0 | |
Other current liabilities | ||||||
-2,926 | -7,993 | -4,503 | 0 | 0 | 0 | |
Net cash provided by operating activities | ||||||
134,634 | 124,282 | 86,570 | 0 | 0 | 0 | |
Investing activities | ||||||
Repayments from investments in direct financing leases | ||||||
54,989 | 56,804 | 58,571 | 0 | 0 | 0 | |
Additions to newbuildings | ||||||
98,969 | 64,108 | 90,612 | 0 | 0 | 0 | |
Purchase of vessels | ||||||
76,936 | 76,936 | 76,936 | 0 | 0 | 0 | |
Proceeds/(payments) from sales of vessels and termination of charters | ||||||
0 | 0 | - | - | 0 | 0 | |
Net amounts received from/(paid to) associated companies | ||||||
- | 76,909 | 56,443 | 0 | 0 | 0 | |
Other investments and long term assets, net | ||||||
24,236 | 13,890 | 13,890 | 0 | 0 | 0 | |
Net cash provided by/(used in) investing activities | ||||||
-125,372 | 93,987 | 34,309 | 0 | 0 | 0 | |
Financing activities | ||||||
Shares issued, net of issuance costs | ||||||
218,476 | 89,675 | 89,596 | 0 | 0 | 0 | |
Payments in lieu of issuing shares for exercised share options | ||||||
- | 1,477 | 1,477 | 0 | 0 | 0 | |
(Repurchase)/resale of bonds | ||||||
274,700 | 275,464 | 28,096 | 0 | 0 | 0 | |
Drawdowns | ||||||
704,822 | 600,023 | 259,097 | 0 | 0 | 0 | |
Repayments of long-term debt | ||||||
572,523 | 538,940 | 318,374 | 0 | 0 | 0 | |
Debt fees paid | ||||||
10,887 | 10,580 | 3,989 | 0 | 0 | 0 | |
Cash dividends paid | ||||||
133,745 | 128,272 | 152,009 | 0 | 0 | 0 | |
Net cash used in financing activities | ||||||
-69,027 | -265,035 | -155,252 | 0 | 0 | 0 | |
Net change in cash and cash equivalents | ||||||
-59,765 | -46,766 | -34,373 | 0 | 0 | 0 | |
Supplemental disclosure of cash flow information: | ||||||
Interest paid, net of capitalized interest | ||||||
81,548 | 90,263 | 86,692 | 0 | 0 | 0 | |