v3.26.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income/(loss) $ 59,870 $ (30,411)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depreciation 109,252 121,775
Vessel impairment charge 0 34,093
Amortization of deferred charges 3,147 4,206
Amortization of charter related deferred asset and straight-lining of operating leases 3,036 (497)
Capitalized lease debt financing interest 4,744 3,636
Equity in earnings of associated companies (1,207) (1,146)
Gain on sale of vessels (11,503) (4,242)
Adjustment to fair value of derivatives recognized in the statement of operations (5,889) 4,183
(Gain)/Loss on investments in equity securities (697) 1,326
Loss on repurchase of bonds 0 144
Repayments from investment in sales-type assets 0 4,021
Other, net 1,844 1,392
Net changes in operating assets and liabilities (40,188) 10,264
Net cash provided by operating activities 122,409 148,744
Investing activities    
Purchase of vessels, capital improvements and newbuildings (23,667) (48,091)
Proceeds from sale of vessels 48,308 46,127
Other investments (140) 0
Net cash provided by/(used in) investing activities 24,501 (1,964)
Financing activities    
Proceeds from debt 305,600 244,042
Repayment of debt (496,485) (278,583)
Debt fees paid (479) (2,679)
Net cash flows on swaps 0 (6,265)
Cash received/(paid) from share issuances and repurchases 63,007  
Cash received/(paid) from share issuances and repurchases   (10,025)
Cash dividends paid (56,278) (72,001)
Net cash used in financing activities (184,635) (125,511)
Net change in cash and cash equivalents (37,725) 21,269
Cash and cash equivalents at start of the period 150,829 134,551
Cash and cash equivalents at end of the period $ 113,104 $ 155,820