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Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 83,088 $ 204,921
Restricted cash, current (Note 9) 6,271 6,435
Trade accounts receivable, net 41,794 38,402
Inventories (Note 4) 46,691 27,436
Due from managers 264 284
Due from related parties (Note 3) 317 1,322
Prepaid expenses and other receivables 14,529 6,504
Derivative asset, current (Note 14) 0 537
Other current assets 13,820 7,046
Vessel held for sale (Note 5) 0 5,949
Total Current Assets 206,774 298,836
FIXED ASSETS    
Advances for vessels under construction and acquisition of vessels (Note 6) 21,203 59,900
Vessels and other fixed assets, net (Note 5) 2,791,157 2,656,108
Total Fixed Assets 2,812,360 2,716,008
OTHER NON-CURRENT ASSETS    
Long term investment 1,163 1,108
Restricted cash, non-current (Note 9) 7,021 2,521
Fair value of above market time charters acquired (Note 8) 169 0
Leased buildings, right-of-use assets (Note 2) 1,140 0
Other non-current assets 3,801 3,664
TOTAL ASSETS 3,032,428 3,022,137
CURRENT LIABILITIES    
Current portion of long term debt (Note 9) 122,919 101,007
Lease commitments short term (Note 7) 44,333 65,837
Accounts payable 29,598 20,959
Due to managers 10,366 3,757
Due to related parties (Note 3) 497 1,649
Accrued liabilities 26,049 16,854
Derivative liability (Note 14) 2,398 1,799
Deferred revenue 15,771 10,855
Total Current Liabilities 251,931 222,717
NON-CURRENT LIABILITIES    
8.30% 2022 Notes, net of unamortized debt issuance costs of $1,590 and $1,386, as of December 31, 2018 and June 30, 2019, respectively (Note 9) 48,614 48,410
Long term debt, net of current portion and unamortized debt issuance costs of $10,997 and $12,676, as of December 31, 2018 and June 30, 2019, respectively (Note 9) 893,660 685,819
Lease commitments long term, net of unamortized debt issuance costs of $2,975 and $3,404, as of December 31, 2018 and June 30, 2019 respectively (Note 7) 356,840 540,925
Fair value of below market time charters acquired (Note 8) 3,469 3,553
Leased buildings, operating lease liabilities (Note 2) 1,140 0
Other non-current liabilities 884 668
TOTAL LIABILITIES 1,556,538 1,502,092
COMMITMENTS & CONTINGENCIES (Note 13)
SHAREHOLDERS' EQUITY    
Preferred Shares; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2018 and June 30, 2019, respectively (Note 10) 0 0
Common Shares, $0.01 par value, 300,000,000 shares authorized; 92,627,349 shares issued and 92,285,986 shares (net of treasury shares) outstanding at December 31, 2018; 91,750,000 shares issued and 91,743,029 shares (net of treasury shares) outstanding as of June 30, 2019 (Note 10) 917 926
Additional paid in capital 2,500,746 2,502,429
Treasury shares (341,363 and 6,791 shares at December 31, 2018 and June 30, 2019, respectively) (93) (3,145)
Accumulated other comprehensive income/(loss) 0 0
Accumulated deficit (1,025,680) (980,165)
Total Shareholders' Equity 1,475,890 1,520,045
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3,032,428 $ 3,022,137