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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 41,865 $ 1,985
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,059 13,441
Amortization of deferred financing costs 418 976
Right-of-use asset amortization 351 344
Amortization of nonvested stock compensation expense 690 522
Loss on sale of vessels   720
Amortization of premium on derivative 43 69
Interest rate cap premium payment   (240)
Insurance proceeds for protection and indemnity claims 99 41
Change in assets and liabilities:    
Decrease in due from charterers 77 1,748
Increase in prepaid expenses and other current assets (1,350) (2,692)
Decrease (increase) in inventories 1,226 (2,565)
(Decrease) increase in accounts payable and accrued expenses (2,834) 1,548
Increase (decrease) in deferred revenue 52 (1,032)
Decrease in operating lease liabilities (456) (432)
Deferred drydock costs incurred (1,685) (939)
Net cash provided by operating activities 52,555 13,494
Cash flows from investing activities:    
Purchase of vessels and ballast water treatment systems, including deposits (45,482) (1,190)
Purchase of scrubbers (capitalized in Vessels)   (41)
Purchase of other fixed assets (1,483) (152)
Net proceeds from sale of vessels   21,272
Insurance proceeds for hull and machinery claims   61
Net cash (used in) provided by investing activities (46,965) 19,950
Cash flows from financing activities:    
Cash dividends paid (28,289) (888)
Payment of deferred financing costs (11)  
Net cash used in financing activities (77,050) (49,098)
Net decrease in cash, cash equivalents and restricted cash (71,460) (15,654)
Cash, cash equivalents and restricted cash at beginning of period 120,531 179,679
Cash, cash equivalents and restricted cash at end of period 49,071 164,025
Secured Debt | $450 Million Credit Facility    
Cash flows from financing activities:    
Repayment of secured debt $ (48,750)  
Secured Debt | $133 Million Credit Facility    
Cash flows from financing activities:    
Repayment of secured debt   (22,740)
Secured Debt | $495 Million Credit Facility    
Cash flows from financing activities:    
Repayment of secured debt   $ (25,470)