XML 15 R2.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and cash equivalents $ 450,285 $ 183,211
Restricted cash, current (Notes 7 and 17) 20,965 7,299
Trade accounts receivable, net 81,061 38,090
Inventories (Note 4) 75,077 47,294
Due from managers 9,422 358
Due from related parties (Note 3) 242 481
Prepaid expenses and other receivables 28,659 17,687
Derivatives, current asset portion (Note 17) 1,996 0
Other current assets (Note 15) 15,217 12,991
Total Current Assets 682,924 307,411
FIXED ASSETS    
Vessels and other fixed assets, net (Note 5) 3,013,038 2,877,119
Total Fixed Assets 3,013,038 2,877,119
OTHER NON-CURRENT ASSETS    
Long term investment (Note 3) 1,567 1,321
Restricted cash, non-current (Notes 7 and 17) 2,021 5,021
Operating leases, right-of-use assets (Note 2) 48,256 886
Derivatives, non-current asset portion (Note 17) 6,913 0
Other non-current assets 35
TOTAL ASSETS 3,754,719 3,191,793
CURRENT LIABILITIES    
Current portion of long-term bank loans (Note 7) 156,701 144,900
Lease financing short term (Note 6) 50,434 44,873
Accounts payable 21,837 32,853
Due to managers 3,885 7,813
Due to related parties (Note 3) 1,426 1,439
Accrued liabilities (Note 12) 30,810 20,940
Derivatives, current liability portion (Note 17) 743 1,939
Deferred revenue 24,960 11,675
Total Current Liabilities 290,796 266,432
NON-CURRENT LIABILITIES    
8.30% 2022 Notes, net of unamortized notes issuance costs of $768 as of December 31, 2020 (Note 7) 0 0 49,232
Long-term bank loans, net of current portion and unamortized loan issuance costs of $13,761 and $10,853, as of December 31, 2020 and 2021, respectively (Note 7) 932,554 938,699
Lease financing long term, net of unamortized lease issuance costs of $6,181 and $5,318, as of December 31, 2020 and 2021, respectively (Note 6) 402,039 382,417
Derivatives, non-current liability portion (Note 17) 0 2,265
Fair value of below market time charters acquired 0 1,289
Operating lease liabilities (Note 2) 48,256 886
Other non-current liabilities 1,056 1,046
TOTAL LIABILITIES 1,674,701 1,642,266
SHAREHOLDERS' EQUITY    
Preferred Shares; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2020 and 2021, respectively (Note 8) 0 0
Common Shares, $0.01 par value, 300,000,000 shares authorized; 97,146,687 shares issued and 97,139,716 shares (net of treasury shares) outstanding as of December 31, 2020; 102,294,758 shares issued and outstanding as of December 31, 2021 (Note 8) 1,023 971
Additional paid in capital 2,618,319 2,548,956
Treasury shares (6,971 and nil 0shares at December 31, 2020 and 2021, respectively) 0 (93)
Accumulated other comprehensive income/(loss) 6,933 (3,993)
Accumulated deficit (546,257) (996,314)
Total Shareholders' Equity 2,080,018 1,549,527
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 3,754,719 $ 3,191,793