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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income/(loss) $ 248,009 $ 184,898 $ (35,063)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:      
Depreciation 47,911 44,862 42,778
Amortization of deferred drydocking costs 13,244 8,656 7,379
Amortization of operating lease right-of-use assets 30,233 16,364 12,517
Amortization of debt discount and debt issuance costs 2,130 7,083 6,272
Loss on debt extinguishment 4,169 6,085 0
(Gain)/loss on sale of vessels (9,308) (3,966) 490
Impairment of operating lease right-of-use assets 2,212 0 352
Unrealized loss/(gain) on derivative instruments, net 1,933 68 (537)
Stock-based compensation expense 6,108 3,481 3,048
Drydocking expenditures (18,422) (21,906) (14,294)
Changes in operating assets and liabilities:      
Accounts payable (257) 10,067 (4,171)
Accounts receivable (4,141) (14,967) 1,918
Accrued interest 185 (1,733) (631)
Inventories (10,429) (6,027) 4,199
Operating lease liabilities (30,227) (17,132) (13,256)
Collateral on derivatives 14,172 (15,081) 0
Fair value of derivatives, other current and noncurrent assets (105) (1,622) (229)
Other accrued liabilities 4,452 6,205 (3,007)
Prepaid expenses (1,170) (179) 1,449
Unearned charter hire revenue (2,416) 4,015 3,380
Net cash provided by operating activities 298,283 209,171 12,595
Cash flows from investing activities:      
Purchase of vessels and vessel improvements (27,676) (128,254) (980)
Advances for vessel purchases (3,638) 0 (3,250)
Purchase of scrubbers and ballast water treatment systems (7,307) (6,712) (28,377)
Proceeds from hull and machinery insurance claims 286 354 3,944
Proceeds from sale of vessels 14,917 9,163 23,225
Purchase of other fixed assets (274) (33) (54)
Net cash used in investing activities (23,692) (125,481) (5,492)
Cash flows from financing activities:      
Proceeds from issuance of shares under ATM Offering, net of commissions 0 27,138 0
Payments on Equity Offerings, net of issuance costs   (493)  
Proceeds from Equity Offerings, net of issuance costs 201   23,498
Financing costs paid to lenders (18) (6,351) (381)
Other financing costs 0 (731) (142)
Dividends paid (104,991) (25,763) 0
Cash received from exercise of stock options 85 56 0
Cash used to settle fractional shares 0 0 (13)
Cash paid for taxes related to net share settlement of equity awards (2,355) (1,937) (1,163)
Net cash (used in)/provided by financing activities (171,059) (86,317) 22,615
Net increase/(decrease) in cash, cash equivalents and restricted cash 103,532 (2,627) 29,718
Cash, cash equivalents and restricted cash at beginning of year 86,222 88,849 59,130
Cash, cash equivalents and restricted cash at end of year 189,754 86,222 88,849
New First Lien Facility      
Cash flows from financing activities:      
Repurchase of Convertible Bond Debt (14,181) 0 0
Norwegian Bond Debt      
Cash flows from financing activities:      
Repayments of long-term debt 0 (184,356) (8,000)
New Ultraco Debt Facility      
Cash flows from financing activities:      
Proceeds from debt 0 16,500 22,550
Repayments of long-term debt 0 (182,930) (28,734)
New Ultraco Revolver Facility      
Cash flows from financing activities:      
Proceeds from debt 0 55,000 55,000
Repayments of long-term debt 0 (55,000) (55,000)
Super Senior Revolver Facility      
Cash flows from financing activities:      
Proceeds from debt 0 0 15,000
Repayments of long-term debt 0 (15,000) 0
Holdco Revolving Credit Facility      
Cash flows from financing activities:      
Proceeds from debt 0 24,000 0
Repayments of long-term debt 0 (24,000) 0
Global Ultraco Debt Facility      
Cash flows from financing activities:      
Proceeds from debt 0 300,000 0
Repayments of long-term debt (49,800) (12,450) 0
Global Ultraco Revolver Loan      
Cash flows from financing activities:      
Proceeds from debt 0 50,000 0
Repayments of long-term debt $ 0 $ (50,000) $ 0