XML 14 R7.htm IDEA: XBRL DOCUMENT v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities    
Net income $ 339,689 $ 669,617
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of right-of-use assets 67,112 51,898
Amortization of deferred drydocking and special survey costs 5,922 5,054
Amortization of assumed time charters (32,364)  
Amortization of finance costs 4,922 6,218
Exit fee accrued on debt   149
Debt discount amortization 1,639 2,590
Loss/ (gain) on investments 69,096 (444,165)
Gain on debt extinguishment (22,939) (111,616)
Equity income on investments   (3,965)
PIK interest   726
Payments for drydocking and special survey costs deferred (9,726) (1,155)
Stock based compensation 248 5,479
Amortization of deferred realized losses on interest rate swaps 1,796 1,796
(Increase)/Decrease in    
Accounts receivable 1,578 444
Inventories (1,863) (180)
Prepaid expenses (1,179) (367)
Due from related parties (10,243) (900)
Other assets, current and non-current (30,145) 3,093
Increase/(Decrease) in    
Accounts payable (1,061) 1,425
Accrued liabilities 5,902 8,921
Unearned revenue, current and long-term 217,882 (2,109)
Other liabilities, current and long-term 14,212 (210)
Net Cash provided by Operating Activities 620,478 192,743
Cash Flows from Investing Activities    
Vessels additions and advances for vessels under construction (84,047) (1,811)
Advances for sale of vessels 13,000  
Investments 85,333 145,877
Net Cash provided by Investing Activities 14,286 144,066
Cash Flows from Financing Activities    
Proceeds from long-term debt 127,725 1,105,311
Payments of long-term debt (383,125) (1,295,025)
Proceeds from sale-leaseback of vessels   135,000
Payments of leaseback obligation (120,687) (21,175)
Dividends paid (31,070) (10,298)
Repurchase of common stock (6,325)  
Payments of accumulated accrued interest (3,373) (7,358)
Finance costs (15,092) (14,509)
Net Cash used in Financing Activities (431,947) (108,054)
Net Increase in cash, cash equivalents and restricted cash 202,817 228,755
Cash, cash equivalents and restricted cash at beginning of period 129,756 65,663
Cash, cash equivalents and restricted cash at end of period $ 332,573 $ 294,418