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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 182,045 $ (225,573) $ (55,985)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 56,231 65,168 72,824
Amortization of deferred financing costs 3,536 3,903 3,788
Amortization of fair market value of time charters acquired (4,263)    
Right-of-use asset amortization 1,387 1,359 1,246
Amortization of nonvested stock compensation expense 2,267 2,026 2,057
Impairment of right-of-use asset     223
Impairment of vessel assets   208,935 27,393
(Gain) loss on sale of vessels (4,924) 1,855 168
Loss on debt extinguishment 4,408    
Amortization of premium on derivative 197    
Interest rate cap premium payment (240)    
Insurance proceeds for protection and indemnity claims 988 569 494
Insurance proceeds for loss of hire claims   78  
Change in assets and liabilities:      
(Increase) decrease in due from charterers (7,125) 710 8,605
Increase in prepaid expenses and other current assets (783) (1,938) (789)
(Increase) decrease in inventories (2,980) 5,625 2,340
Increase (decrease) in accounts payable and accrued expenses 5,405 (17,355) 13,172
Increase in deferred revenue 1,660 1,794 223
Decrease in operating lease liabilities (1,765) (1,677) (1,592)
Deferred drydock costs incurred (4,925) (8,583) (14,641)
Net cash provided by operating activities 231,119 36,896 59,526
Cash flows from investing activities:      
Purchase of vessels and ballast water treatment systems, including deposits (115,680) (4,485) (13,960)
Purchase of scrubbers (capitalized in Vessels) (199) (10,973) (31,750)
Purchase of other fixed assets (1,585) (4,580) (4,714)
Net proceeds from sale of vessels 49,473 56,993 26,963
Insurance proceeds for hull and machinery claims 418 484 612
Net cash (used in) provided by investing activities (67,573) 37,439 (22,849)
Cash flows from financing activities:      
Payment of common stock issuance costs     (105)
Investment by non-controlling interest 50    
Cash dividends paid (13,463) (9,847) (20,877)
Payment of deferred financing costs (6,053) (462) (611)
Net cash used in financing activities (222,694) (56,905) (77,189)
Net (decrease) increase in cash, cash equivalents and restricted cash (59,148) 17,430 (40,512)
Cash, cash equivalents and restricted cash at beginning of period 179,679 162,249 202,761
Cash, cash equivalents and restricted cash at end of period 120,531 179,679 162,249
Secured Debt | $450 Million Credit Facility      
Cash flows from financing activities:      
Proceeds from credit facility 350,000    
Repayment of secured debt (104,000)    
Secured Debt | $133 Million Credit Facility      
Cash flows from financing activities:      
Proceeds from credit facility   24,000  
Repayment of secured debt (114,940) (9,160) (6,320)
Secured Debt | $495 Million Credit Facility      
Cash flows from financing activities:      
Proceeds from credit facility   11,250 21,500
Repayment of secured debt $ (334,288) $ (72,686) $ (70,776)