XML 33 R18.htm IDEA: XBRL DOCUMENT
v2.3.0.15

CONVERTIBLE SENIOR NOTES | 9 Months Ended
--- | ---
Sep. 30, 2011
CONVERTIBLE SENIOR NOTES |
CONVERTIBLE SENIOR NOTES |
10 — CONVERTIBLE SENIOR NOTES The Company issued $125,000 of 5.0% Convertible Senior Notes on July 27, 2010 (the “2010 Notes”). The Indenture includes customary agreements and covenants by the Company, including with respect to events of default. The following tables provide additional information about the Company’s 2010 Notes:
|  | September 30, 2011 |  | December 31, 2010 |
Carrying amount of the equity component (additional paid-in capital) |  | $ | 24,375 |  | $ | 24,375 |
Principal amount of the 2010 Notes |  | 125,000 |  | 125,000 |
Unamortized discount of the liability component |  | 19,692 |  | 22,691 |
Net carrying amount of the liability component |  | 105,308 |  | 102,309 |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2011 |  | 2010 |  | 2011 |  | 2010 |
Effective interest rate on liability component |  | 9.96 | % | 9.94 | % | 9.89 | % | 9.94 | %
Cash interest expense recognized |  | $ | 1,584 |  | $ | 1,146 |  | $ | 4,677 |  | $ | 1,146 |
Non-cash interest expense recognized |  | 1,046 |  | 671 |  | 2,999 |  | 671 |
Non-cash deferred financing amortization costs included in interest expense |  | 181 |  | 127 |  | 538 |  | 127 |
The remaining period over which the unamortized discount will be recognized is 3.9 years. As of September 30, 2011, the if-converted value of the 2010 Notes does not exceed their principal amount. The 2010 Notes have been classified as a noncurrent liability on the consolidated balance sheet as of September 30, 2011 because the Company can settle the principal amount of the notes with shares, cash, or a combination thereof at its discretion.

X
- Details
Name: | gnk_ConvertibleSeniorNotesDisclosureAbstract
Namespace Prefix: | gnk
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition This element may be used as a single block of text to encapsulate the disclosure for convertible senior notes. + Details
Name: | gnk_ConvertibleSeniorNotesDisclosureTextBlock
Namespace Prefix: | gnk
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration