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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 208,056 $ 86,000
Restricted cash, current (Note 8) 3,769 3,352
Trade accounts receivable, net 10,889 24,765
Inventories (Note 4) 14,247 14,368
Due from related parties (Note 3) 1,209 245
Other current assets 5,284 1,350
Prepaid expenses and other receivables 8,604 4,350
Total Current Assets 252,058 134,430
FIXED ASSETS    
Advances for vessels under construction and acquisition of vessels (Note 6) 127,910 454,612
Vessels and other fixed assets, net (Note 5) 1,757,552 1,441,851
Total Fixed Assets 1,885,462 1,896,463
OTHER NON-CURRENT ASSETS    
Long-term investment (Note 3) 844 634
Deferred finance charges, net 16,037 8,029
Restricted cash, non-current (Note 8) 10,228 10,620
Fair value of above market acquired time charter (Note 7) 254 11,908
TOTAL ASSETS 2,164,883 2,062,084
CURRENT LIABILITIES    
Current portion of long term debt (Note 8) 127,141 88,317
Lease commitments short term (Note 5) 4,490 0
Excel Vessel Bridge Facility from related parties, current portion (Note 3 & Note 8) 0 8,168
Accounts payable 9,436 18,487
Advances from sale of vessel (Note 5) 0 1,100
Due to related parties (Note 3) 422 2,166
Due to managers 2,291 0
Accrued liabilities (Note 15) 14,773 13,738
Derivative liability, current (Note 19) 5,931 5,722
Deferred revenue 2,465 2,500
Total Current Liabilities 166,949 140,198
NON-CURRENT LIABILITIES    
8.00% 2019 Notes (Note 8) 50,000 50,000
Long term debt (Note 8) 734,597 667,315
Lease commitments long term (Note 5) 75,030 0
Excel Vessel Bridge Facility from related parties, non current portion (Note 3 & Note 8) 0 47,993
Derivative liability, non-current (Note 19) 2,518 2,010
Other non-current liabilities 431 266
TOTAL LIABILITIES $ 1,029,525 $ 907,782
COMMITMENTS & CONTINGENCIES (Note 17)
STOCKHOLDERS' EQUITY    
Preferred Stock; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2014 and 2015 (Note 9) $ 0 $ 0
Common Stock, $0.01 par value, 300,000,000 shares authorized; 109,426,236 and 219,105,712 shares issued and outstanding at December 31, 2014 and 2015, respectively (Note 9) 2,191 1,094
Additional paid in capital (Note 9) 2,006,687 1,567,713
Accumulated other comprehensive income/ (loss) (Note 19) (1,216) (378)
Accumulated deficit (872,304) (414,127)
Total Stockholders' Equity 1,135,358 1,154,302
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,164,883 $ 2,062,084