v3.22.2.2
Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 161,148 $ 117,192
Restricted cash 10,648 10,005
Margin deposits (Note 12) 4,270 5,849
Accounts receivable 53,697 30,622
Capitalized voyage expenses 2,468 1,839
Due from related companies (Note 2) 11,764 14,607
Advances and other 27,131 20,176
Inventories 32,951 22,918
Prepaid insurance and other 3,124 1,861
Receivable, short-term (Note 4) 12,871 12,741
Current portion of financial instruments - Fair value (Notes 7, 12) 4,690 1,852
Total current assets 324,762 239,662
Derivative Instruments and Hedges, Noncurrent 4,531 1,526
Operating Lease, Right-of-Use Asset 73,511 88,573
Lease incentive receivable 23,059 23,163
FIXED ASSETS (Note 4)    
Advances for vessels under construction 71,906 104,635
Vessels 3,456,374 3,729,440
Accumulated depreciation (935,141) (876,482)
Vessels’ Net Book Value 2,521,233 2,402,958
Total fixed assets 2,593,139 2,507,593
DEFERRED CHARGES AND LEASEHOLD IMPROVEMENTS, net (Note 5) 45,066 34,297
Total assets 3,064,068 2,894,814
CURRENT LIABILITIES:    
Current portion of long - term debt and other financial liabilities (Note 6) 200,575 172,936
Payables 71,488 74,912
Due to related companies (Note 2) 8,513 7,747
Dividends payable 2,894 0
Accrued liabilities 41,309 27,851
Unearned revenue (Note 3) 7,082 9,020
Current portion of obligations under operating leases (Note 4) 25,763 29,749
Current portion of financial liability under operating leases (Note 4) 1,014 997
Current portion of financial instruments - Fair value (Notes 7, 12) 1,756 8,884
Total current liabilities 360,394 332,096
LONG-TERM DEBT AND OTHER FINANCIAL LIABILITIES, net of current portion (Note 6) 1,275,149 1,200,251
LONG-TERM OBLIGATIONS UNDER OPERATING LEASES (Note 4) 47,748 58,824
FINANCIAL LIABILITY UNDER OPERATING LEASES, net of current portion (Note 4) 2,688 3,196
FINANCIAL INSTRUMENTS - Fair value (Notes 7, 12) 114 8,656
STOCKHOLDERS’ EQUITY (Note 8):    
Preferred shares, $ 1.00 par value; 25,000,000 shares authorized and 3,517,061 Series D Preferred Shares, 4,745,947 Series E Preferred Shares, 6,747,147 Series F Preferred Shares and 459,286 Series G Convertible Preferred Shares issued and outstanding at June 30, 2022 and 3,516,896 Series D Preferred Shares, 4,743,708 Series E Preferred Shares, 6,741,259 Series F Preferred Shares and 459,286 Series G Convertible Preferred Shares issued and outstanding at December 31, 2021 15,469 15,461
Common shares, $ 5.00 par value; 60,000,000 shares authorized at June 30, 2022 and 35,000,000 shares authorized at December 31, 2021; 29,308,379 shares issued and 28,630,206 shares outstanding at June 30, 2022 and 25,244,113 shares issued and 24,565,940 outstanding at December 31, 2021, respectively 146,542 126,221
Additional paid-in capital 986,874 973,582
Cost of treasury stock (6,791) (6,791)
Accumulated other comprehensive income (loss) 4,001 (17,175)
Retained earnings 181,008 149,505
Total Tsakos Energy Navigation Limited stockholders’ equity 1,327,103 1,240,803
Non-controlling Interest 50,872 50,988
Total stockholders’ equity 1,377,975 1,291,791
Total liabilities and stockholders’ equity $ 3,064,068 $ 2,894,814