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Note 12 - Accrued Charter Revenue, Current and Non-current and Unearned Revenue, Current and Non-current
 6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Accrued Charter Revenue, Current and Non-Current and Unearned Revenue, Current and Non-Current [Text Block]
12.
Accrued Charter Revenue, Current and Non-Current and Unearned Revenue, Current and Non-Current:
 
(a) Accrued Charter Revenue, Current and Non-Current:
The amounts presented as current and non-current accrued charter revenue in the accompanying consolidated balance sheets as of
December 31, 2016
and
June 30, 2017,
reflect revenue earned, but
not
collected, resulting from charter agreements providing for varying annual charter rates over their term, which were accounted for on a straight-line basis at their average rates.
 
As at
December 31, 2016,
the net accrued charter revenue, totaling to (
$27,639
), comprises
$408
separately reflected in Current assets,
$185
separately reflected in Non-current assets, and (
$28,232
) (discussed in (b) below) included in Unearned revenue in current and non-current liabilities in the accompanying
2016
consolidated balance sheet. As at
June 30, 2017,
the net accrued charter revenue, totaling to (
$22,040
), comprises
$391
separately reflected in Current assets and (
$22,431
) (discussed in (b) below) included in Unearned revenue in current and non-current liabilities in the accompanying
2017
consolidated balance sheet. The maturities of the net accrued charter revenue as of
December 31
of each year presented below are as follows:
 
Year ending December 31,   Amount
2017   $
(5,714
 )
2018    
(8,922
 )
2019    
(6,602
 )
2020    
(802
 )
Total   $
(22,040
 )
 
(b) Unearned Revenue, Current and Non-Current:
The amounts presented as current and non-current unearned revenue in the accompanying consolidated balance sheets as of
December 31, 2016
and
June 30, 2017,
reflect: (a) cash received prior to the balance sheet date for which all criteria to recognize as revenue have
not
been met, (b) any unearned revenue resulting from charter agreements providing for varying annual charter rates over their term, which were accounted for on a straight-line basis at their average rate and (c) the deferred gain from the sale and leaseback transactions discussed in Note
11
above, net of amortization of (
$20
), which is included in Amortization of prepaid lease rentals, net in the
2017
accompanying statements of income .
 
    December 31,
2016		   June 30,
2017
Hires collected in advance   $
7,924
     $
5,143
  
Deferred gain, net    
-
      
4,461
  
Charter revenue resulting from varying charter rates    
28,232
      
22,431
  
Total   $
36,156
     $
32,035
  
Less current portion    
(19,668
 )    
(17,087
 )
Non-current portion   $
16,488
     $
14,948