v3.25.2
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows From Operating Activities of Continuing Operations:    
Net income: $ 190,499 $ 205,547
Less: Net (income) /loss from discontinued operations 27,547 (3,876)
Net income from continuing operations 218,046 201,671
Adjustments to reconcile net income from Continuing operations to net cash provided by operating activities:    
Depreciation 63,492 63,064
Amortization and write-off of financing costs 2,020 2,936
Amortization of deferred dry-docking and special survey costs 9,530 8,280
Amortization of assumed time charter 33 (130)
Amortization of hedge effectiveness excluded component from cash flow hedges 2,029 2,047
Equity based payments 2,835 4,156
Increase in short-term investments (392) (465)
(Gain) / Loss on derivative instruments, net (13,767) 3,212
Income from equity method investments 0 (42)
Changes in operating assets and liabilities of continuing operations:    
Accounts receivable 686 731
Due from related parties (6,885) 382
Inventories (976) 458
Insurance claims receivable (541) (907)
Prepayments and other (3,779) (6,558)
Accounts payable 2,661 1,942
Due to related parties 3,840 (549)
Accrued liabilities (2,986) (4,042)
Unearned revenue (1,206) (24)
Other liabilities 3,437 11,001
Dry-dockings (5,699) (6,582)
Accrued charter revenue 10,817 8,735
Net Cash provided by Operating Activities from Continuing Operations 283,195 289,316
Cash Flows From Investing Activities of Continuing Operations:    
Return of capital from equity method investments 0 490
Payments to acquire short-term investments (18,591) (35,520)
Settlements of short-term investments 18,591 35,440
Proceeds from the settlement of insurance claims 1,027 99
Acquisition of non-controlling interest in subsidiary (857) 0
Issuance of investments in leaseback vessels (138,546) (52,808)
Capital collections from vessels’ leaseback arrangements 37,532 14,864
Additions to vessel cost (6,995) (2,457)
Net Cash used in Investing Activities from Continuing Operations (107,839) (39,892)
Cash Flows From Financing Activities of Continuing Operations:    
Proceeds from long-term debt and finance leases 55,147 113,605
Repayment of long-term debt and finance leases (310,858) (184,206)
Payment of financing costs (455) (962)
Capital contribution from non-controlling interest to subsidiary 6,110 376
Cash contribution to spun-off entities (100,000) 0
Dividends paid (39,723) (35,657)
Net Cash used in Financing Activities from Continuing Operations (389,779) (106,844)
Cash flows of discontinued operations:    
Net cash provided by / (used in) Operating Activities from discontinued operations 7,407 (4,276)
Net cash provided by Investing Activities from discontinued operations 9,995 21,937
Net cash used in Financing Activities from discontinued operations (75,333) (11,964)
Net cash provided by / (used in) discontinued operations (57,931) 5,697
Net increase / (decrease) in cash, cash equivalents and restricted cash (272,354) 148,277
Cash, cash equivalents and restricted cash at beginning of the period 777,936 825,204
Cash, cash equivalents and restricted cash at end of the period 505,582 973,481
Supplemental Cash Information:    
Cash paid during the period for interest 49,311 63,324
Non-Cash Investing and Financing Activities:    
Dividend reinvested in common stock of the Company $ 159 $ 8,647