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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income (loss) $ 34,022 $ (138,554)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 27,209 33,504
Amortization of deferred financing costs 2,235 1,909
Right-of-use asset amortization 690 676
Amortization of nonvested stock compensation expense 1,073 957
Impairment of vessel assets 0 112,814
Loss on sale of vessels 735 486
Amortization of premium on derivative 111  
Interest rate cap premium payment (240)  
Insurance proceeds for protection and indemnity claims 101 278
Insurance proceeds for loss of hire claims   78
Change in assets and liabilities:    
(Increase) decrease in due from charterers (921) 331
(Increase) decrease in prepaid expenses and other current assets (894) 504
(Increase) decrease in inventories (4,858) 4,174
Increase (decrease) in accounts payable and accrued expenses 5,028 (17,454)
Increase (decrease) in deferred revenue 954 (2,259)
Decrease in operating lease liabilities (871) (828)
Deferred drydock costs incurred (1,822) (5,593)
Net cash provided by (used in) operating activities 62,552 (8,977)
Cash flows from investing activities:    
Purchase of vessels and ballast water treatment systems, including deposits (24,678) (2,275)
Purchase of scrubbers (capitalized in Vessels) (126) (10,839)
Purchase of other fixed assets (431) (2,716)
Net proceeds from sale of vessels 29,096 14,726
Insurance proceeds for hull and machinery claims 295 484
Net cash provided by (used in) investing activities 4,156 (620)
Cash flows from financing activities:    
Cash dividends paid (2,983) (8,126)
Payment of deferred financing costs   (283)
Net cash used in financing activities (85,186) (9,760)
Net decrease in cash, cash equivalents and restricted cash (18,478) (19,357)
Cash, cash equivalents and restricted cash at beginning of period 179,679 162,249
Cash, cash equivalents and restricted cash at end of period 161,201 142,892
Secured Debt | $133 Million Credit Facility    
Cash flows from financing activities:    
Proceeds from credit facility   24,000
Repayment of secured debt (24,320) (3,280)
Secured Debt | $495 Million Credit Facility    
Cash flows from financing activities:    
Proceeds from credit facility   11,250
Repayment of secured debt $ (57,883) $ (33,321)