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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (51,224) $ (61,295)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 50,605 54,194
Amortization of deferred financing costs 2,110 1,739
PIK interest, net   4,575
Payment of PIK interest (5,341) 0
Amortization of nonvested stock compensation expense 1,776 3,536
Impairment of vessel assets 56,586 21,993
Gain on sale of vessels (1,509) (7,712)
Loss on debt extinguishment 4,533  
Insurance proceeds for protection and indemnity claims 268 478
Insurance proceeds for loss of hire claims 58 1,781
Change in assets and liabilities:    
Increase in due from charterers (6,329) (495)
Increase in prepaid expenses and other current assets (5,966) (8,001)
Increase in inventories (14,647) (1,837)
Decrease in other noncurrent assets 514  
Increase in accounts payable and accrued expenses 8,169 766
Increase in deferred revenue 5,017 1,144
Increase in lease obligations 988 540
Deferred drydock costs incurred (2,233) (7,685)
Net cash provided by operating activities 43,375 3,721
Cash flows from investing activities:    
Purchase of vessels, including deposits (239,695) (252)
Purchase of other fixed assets (888) (198)
Net proceeds from sale of vessels 10,626 15,513
Insurance proceeds for hull and machinery claims 3,466 718
Net cash (used in) provided by investing activities (226,491) 15,781
Cash flows from financing activities:    
Payment of debt extinguishment costs (2,962)  
Proceeds from issuance of common stock 110,249  
Payment of common stock issuance costs (496)  
Payment of Series A Preferred Stock issuance costs   (1,103)
Payment of deferred financing costs (11,499)  
Net cash provided by (used in) financing activities 144,209 (3,465)
Net (decrease) increase in cash, cash equivalents and restricted cash (38,907) 16,037
Cash, cash equivalents and restricted cash at beginning of period 204,946 169,068
Cash, cash equivalents and restricted cash at end of period 166,039 185,105
Secured Debt | $108 Million Credit Facility    
Cash flows from financing activities:    
Proceeds from credit facility 108,000  
Repayment of secured debt 0  
Secured Debt | $460 Million Credit Facility    
Cash flows from financing activities:    
Proceeds from credit facility 460,000  
Repayment of secured debt 0 0
Secured Debt | $400 Million Credit Facility    
Adjustments to reconcile net loss to net cash provided by operating activities:    
Payment of PIK interest (5,341)  
Cash flows from financing activities:    
Repayment of secured debt (399,600) (300)
Secured Debt | 2014 Term Loan Facilities    
Cash flows from financing activities:    
Repayment of secured debt (25,544) (2,062)
Line of Credit Facility | $98 Million Credit Facility    
Cash flows from financing activities:    
Repayments of Credit Facility $ (93,939) $ 0