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Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 77,506 $ 117,819
Restricted cash, current (Note 8) 29,094 7,422
Trade accounts receivable, net 32,222 58,785
Inventories (Note 4) 47,172 51,153
Due from managers 0 899
Due from related parties (Note 3) 140 590
Prepaid expenses and other receivables 14,962 17,745
Derivatives, current asset portion (Note 13) 12,050 216
Other current assets (Notes 14) 10,399 11,413
Total Current Assets 223,545 266,042
FIXED ASSETS    
Vessels and other fixed assets, net (Note 5) 2,939,957 2,965,527
Total Fixed Assets 2,939,957 2,965,527
OTHER NON-CURRENT ASSETS    
Long term investment (Note 3) 1,324 1,162
Restricted cash, non-current (Note 8) 1,020 1,021
Leased buildings, right-of-use assets  1,056 1,216
Other non-current assets 129 3,703
TOTAL ASSETS 3,167,031 3,238,671
CURRENT LIABILITIES    
Current portion of long term debt (Note 8) 171,876 150,350
Lease financing short term (Note 6) 48,178 52,145
Accounts payable 43,275 42,779
Due to managers 11,095 5,781
Due to related parties (Note 3) 1,972 4,017
Accrued liabilities  22,555 46,761
Derivatives, current liability portion (Note 13) 14,419 1,724
Deferred revenue 11,151 7,374
Total Current Liabilities 324,521 310,931
NON-CURRENT LIABILITIES    
8.30% 2022 Notes, net of unamortized debt issuance costs of $1,179 and $975, as of December 31, 2019 and June 30, 2020, respectively (Note 8) 49,025 48,821
Long term debt, net of current portion and unamortized debt issuance costs of $15,098 and $16,500, as of December 31, 2019 and June 30, 2020, respectively (Note 8) 977,847 960,589
Lease financing long term, net of unamortized debt issuance costs of $3,936 and $3,021, as of December 31, 2019 and June 30, 2020, respectively (Note 6) 314,433 369,831
Derivatives, non-current liability portion (Note 13) 3,757 0
Fair value of below market time charters acquired (Note 7) 1,755 2,473
Leased buildings, operating lease liabilities  1,056 1,216
Other non-current liabilities 834 770
TOTAL LIABILITIES 1,673,228 1,694,631
COMMITMENTS & CONTINGENCIES 
SHAREHOLDERS' EQUITY    
Preferred Shares; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2019 and June 30, 2020, respectively (Note 9) 0 0
Common Shares, $0.01 par value, 300,000,000 shares authorized; 96,073,197 shares issued and 96,066,226 shares (net of treasury shares) outstanding as of December 31, 2019;  96,074,497 shares issued and 96,067,526 shares (net of treasury shares) outstanding as of June 30, 2020 (Note 9) 961 961
Additional paid in capital 2,545,558 2,544,342
Treasury shares (6,971 and 6,971 shares at December 31, 2019 and June 30, 2020, respectively)  (93) (93)
Accumulated other comprehensive income/(loss) (5,284) 0
Accumulated deficit (1,047,339) (1,001,170)
Total Shareholders' Equity 1,493,803 1,544,040
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3,167,031 $ 3,238,671