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Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Statement of Cash Flows [Abstract]    
Net income $ 26,068 $ 289,072
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 64,087 64,968
Amortization of deferred charges 3,066 1,662
Impairment loss on vessels 11,780 0
Share option expenses 203 300
Share of results of associated companies (9,868) (27,120)
Dividends received from associated companies 16,868 7,497
Amortization of unfavorable charter party contracts (545) 0
Mark to market (gain) loss on derivatives (3,679) (26,471)
Mark to market (gain) loss on marketable securities (448) 348
Non-cash lease expense (131) (1,608)
Gain on sale of assets (2,583) (9,516)
Other (534) (462)
Changes in operating assets and liabilities, net:    
Trade accounts receivable (15,588) 696
Related party payables and receivables balances 1,026 17,638
Other receivables 14,252 (46,003)
Inventories (6,247) (4,497)
Voyages in progress 3,744 16,644
Prepaid expenses 3,382 (2,968)
Trade accounts payables 4,082 (1,220)
Accrued expenses 7,959 290
Other current liabilities 5,174 (150)
Net cash provided by operating activities 122,068 279,100
Investing activities    
Additions to vessels and right of use assets (254,010) (2,242)
Additions to newbuildings (113,739) (13,727)
Proceeds from sale of vessels 58,873 51,479
Proceeds from sale of shares in associated companies 0 937
Repayment of loans receivable from related parties 925 5,350
Other investing activities, net 4 4
Net cash provided by (used in) investing activities (307,947) 41,801
Financing activities    
Proceeds from long-term debt 537,140 275,000
Repayment of long-term debt (297,505) (338,648)
Repayment of finance leases (including related party amounts of $12,418 and $16,192 for the six months ended June 30, 2023 and 2022 respectively) (12,418) (16,192)
Debt fees paid (4,516) (2,750)
Distributions to shareholders (60,120) (280,835)
Share repurchases (7,452) 0
Proceeds from share distributions 0 828
Net cash provided by (used in) financing activities 155,129 (362,597)
Net change in cash, cash equivalents and restricted cash (30,750) (41,696)
Cash, cash equivalents and restricted cash at beginning of period 138,073 210,017
Cash, cash equivalents and restricted cash at end of period $ 107,323 $ 168,321