XML 78 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues:      
Voyage revenues $ 223,159 $ 388,929 $ 447,438
Service revenues 3,294 3,285 1,249
Total revenues 226,453 392,214 448,687
Operating expenses:      
Voyage expenses 7,009 4,457 4,467
Vessel operating expenses 114,318 105,514 78,976
General, administrative and management fees 35,673 33,928 29,081
Depreciation and amortization 139,063 136,203 115,663
Other operating income (265) (527) (791)
Total operating expenses 295,798 279,575 227,396
Operating (loss) income (69,345) 112,639 221,291
Other (expense) income:      
Other expense (29) (80) (77)
Interest income 378 616 685
Interest expense (87,558) (86,722) (72,650)
Other expense (87,209) (86,186) (72,042)
(Loss) income before income taxes (156,554) 26,453 149,249
Income tax expense (1,222) (1,385) (1,840)
Net (loss) income (157,776) 25,068 147,409
Less: Net (loss) income attributable to noncontrolling interest (12,848) (318) 6,166
Net (loss) income attributable to Genco Shipping & Trading Limited $ (144,928) $ 25,386 $ 141,243
Net (loss) income per share-basic (in dollars per share) $ (3.47) $ 0.72 $ 4.28
Net (loss) income per share-diluted (in dollars per share) $ (3.47) $ 0.72 $ 4.07
Weighted average common shares outstanding-basic (in shares) 41,727,075 35,179,244 32,987,449
Weighted average common shares outstanding-diluted (in shares) 41,727,075 35,258,205 35,891,373
Dividends declared per share (in dollars per share) $ 0.00