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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income (loss) $ 159,364 $ 182,045 $ (225,573)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 60,190 56,231 65,168
Amortization of deferred financing costs 1,694 3,536 3,903
Amortization of fair market value of time charters acquired   (4,263)  
Right-of-use asset amortization 1,417 1,387 1,359
Amortization of nonvested stock compensation expense 3,242 2,267 2,026
Impairment of vessel assets 0 0 208,935
(Gain) loss on sale of vessels   (4,924) 1,855
Loss on debt extinguishment   4,408  
Amortization of premium on derivative 86 197  
Interest rate cap premium payment   (240)  
Insurance proceeds for protection and indemnity claims 829 988 569
Insurance proceeds for loss of hire claims     78
Change in assets and liabilities:      
(Increase) decrease in due from charterers (5,217) (7,125) 710
Increase in prepaid expenses and other current assets (317) (783) (1,938)
Decrease (increase) in inventories 2,962 (2,980) 5,625
(Decrease) increase in accounts payable and accrued expenses (2,134) 5,405 (17,355)
(Decrease) increase in deferred revenue (5,123) 1,660 1,794
Decrease in operating lease liabilities (1,858) (1,765) (1,677)
Deferred drydock costs incurred (25,812) (4,925) (8,583)
Net cash provided by operating activities 189,323 231,119 36,896
Cash flows from investing activities:      
Purchase of vessels and ballast water treatment systems, including deposits (52,473) (115,680) (4,485)
Purchase of scrubbers (capitalized in Vessels)   (199) (10,973)
Purchase of other fixed assets (3,566) (1,585) (4,580)
Net proceeds from sale of vessels   49,473 56,993
Insurance proceeds for hull and machinery claims 1,024 418 484
Net cash (used in) provided by investing activities (55,015) (67,573) 37,439
Cash flows from financing activities:      
Investment by non-controlling interest   50  
Cash dividends paid (115,728) (13,463) (9,847)
Payment of deferred financing costs (11) (6,053) (462)
Net cash used in financing activities (190,739) (222,694) (56,905)
Net (decrease) increase in cash, cash equivalents and restricted cash (56,431) (59,148) 17,430
Cash, cash equivalents and restricted cash at beginning of period 120,531 179,679 162,249
Cash, cash equivalents and restricted cash at end of period 64,100 120,531 179,679
$450 Million Credit Facility      
Cash flows from financing activities:      
Proceeds from secured debt   350,000  
Repayment of secured debt $ (75,000) (104,000)  
$133 Million Credit Facility      
Cash flows from financing activities:      
Proceeds from secured debt     24,000
Repayment of secured debt   (114,940) (9,160)
$495 Million Credit Facility      
Cash flows from financing activities:      
Proceeds from secured debt     11,250
Repayment of secured debt   $ (334,288) $ (72,686)