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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Operating activities      
Net income $ 85,611 $ 101,053 $ 200,832
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 46,304 36,301 78,080
Vessel impairment charge 0 29,161 42,410
Available for sale securities impairment charge 0 0 20,552
Amortization of deferred charges 5,663 6,037 11,613
Amortization of seller's credit (694) (959) (1,904)
Equity in earnings of associated companies (14,322) (17,098) (33,605)
Loss/(gain) on sale of assets and termination of charters (14) 114 (7,364)
Gain on redemption of Horizon loan notes and warrants 0 (44,552) (44,552)
Gain on redemption of Frontline loan notes 0 0 (28,904)
Adjustment of derivatives to fair value recognized in net income 10,408 1,184 13,278
(Gain)/loss on repurchase of bonds 38 (438) (1,007)
Interest receivable in form of notes (633) (2,182) (2,182)
Other, net 157 (827) (1,134)
Changes in operating assets and liabilities      
Trade accounts receivable (3,182) 560 1,196
Due from related parties 6,197 9,020 14,105
Other receivables 1,307 (1,884) (840)
Inventories 6 (3,593) (2,529)
Prepaid expenses and accrued income 2,878 550 (715)
Trade accounts payable 235 (822) (1,572)
Accrued expenses (1,426) (4,220) (5,302)
Other current liabilities (14,812) (3,778) 7,945
Net cash provided by operating activities 123,721 103,627 258,401
Investing activities      
Repayments from investments in direct financing leases 16,309 18,502 35,946
Additions to newbuildings (176,686) (129,210) (223,109)
Purchase of vessels 0 (1,740) (273,552)
Proceeds/(payments) from sales of vessels and termination of charters 4,932 (2,003) 42,275
Proceeds from sale of investment in associated company 0 111,095 111,095
Net amounts received from/(paid to) associated companies 170,866 15,211 (62,083)
Proceeds from redemption of Horizon loan notes and warrants 0 71,681 71,681
Proceeds from redemption of Frontline loan notes 0 0 112,687
Other investments and long term assets, net (12,072) (4,898) (20,722)
Net cash provided by/(used in) investing activities 3,349 78,638 (205,782)
Financing activities      
Shares issued, net of issuance costs 243 675 675
Repurchase of bonds (117,509) (5,079) (23,787)
Proceeds from issuance of long-term debt 277,000 130,366 595,305
Repayments of long-term debt (190,612) (215,062) (435,706)
Debt fees paid (217) (2,997) (7,155)
Cash dividends paid (84,134) (79,415) (162,594)
Net cash used in financing activities (115,229) (171,512) (33,262)
Net change in cash and cash equivalents 11,841 10,753 19,357
Cash and cash equivalents at start of the period 70,175 50,818 50,818
Cash and cash equivalents at end of the period 82,016 61,571 70,175
Supplemental disclosure of cash flow information:      
Interest paid, net of capitalized interest $ 33,521 $ 34,707 $ 68,215