XML 63 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities of continuing operations:      
Net income / (loss) from continuing operations $ 24,421 $ (7,611) $ 15,795
Adjustments to reconcile net income / (loss) to net cash provided by operating activities of continuing operations:      
Vessel depreciation and amortization (Note 6) 29,261 32,813 35,979
Amortization and write off of deferred financing costs 1,096 1,359 961
Amortization of above market acquired charters (Note 7) 14,380 14,380 14,380
Equity compensation expense (Note 14) 907 613 1,156
Impairment of vessel (Note 6) 0 28,805 3,282
Changes in operating assets and liabilities:      
Trade accounts receivable 13,436 (11,354) (2,275)
Prepayments and other assets (1,195) 855 710
Inventories 45 1,147 (438)
Claims (1,085) 0 0
Trade accounts payable (9,406) 4,074 2,766
Due to related parties (12,486) 3,508 (1,861)
Accrued liabilities (9,558) 1,648 7,624
Deferred revenue (3,585) (10,059) (11,542)
Dry docking costs paid (954) 0 (609)
Net cash provided by operating activities of continuing operations 45,277 60,178 65,928
Cash flows from investing activities of continuing operations:      
Vessel acquisitions and improvements including time charter agreements (Note 6) (6,519) (2,428) (1,679)
Net proceeds from sale of vessels 0 39,789 0
Net cash (used in) / provided by investing activities of continuing operations (6,519) 37,361 (1,679)
Cash flows from financing activities of continuing operations:      
Proceeds from issuance of Partnership units (Note 13) 0 0 17,815
Expenses paid for issuance of Partnership units 0 0 (247)
Payments of long-term debt (Note 8) (32,733) (55,283) (98,464)
Deferred financing costs paid (788) (72) (3,803)
Redemption of Class B unit holders (116,850) 0 0
Dividends paid (Note 13) (28,771) (52,600) (51,630)
Net cash used in financing activities of continuing operations (179,142) (107,955) (136,329)
Net decrease in cash, cash equivalents and restricted cash from continuing operations (140,384) (10,416) (72,080)
Cash flows from discontinued operations      
Operating activities 8,905 37,712 61,046
Investing activities (1,484) (41,837) (359)
Financing activities 158,228 (18,557) (31,988)
Net increase / (decrease) in cash, cash equivalents and restricted cash from discontinued operations 165,649 (22,682) 28,699
Net increase / (decrease) in cash, cash equivalents and restricted cash 25,265 (33,098) (43,381)
Cash, cash equivalents and restricted cash at the beginning of the year 38,199 71,297 114,678
Cash, cash equivalents and restricted cash at the end of the year 63,464 38,199 71,297
Supplemental cash flow information      
Cash paid for interest 20,138 24,952 19,646
Non-Cash Investing and Financing Activities      
Capital expenditures included in liabilities 15,004 547 312
Offering expenses included in liabilities 0 0 35
Deferred financing costs included in liabilities 0 0 79
Capitalized dry docking costs included in liabilities 2,560 480 11
Assumption of loans regarding the acquisition of the shares of the companies owning the M/T Aristaios and the M/T Anikitos included in discontinued operations 0 43,958 0
Reconciliation of cash, cash equivalents and restricted cash      
Cash and cash equivalents 57,964 21,203 53,297
Restricted cash - Non-current assets 5,500 16,996 18,000
Cash, cash equivalents and restricted cash at the end of the year $ 63,464 $ 38,199 $ 71,297