Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2021 |
Jun. 30, 2020 |
| OPERATING ACTIVITIES: |
|
|
| Net income/(loss) |
$ 25,859
|
$ (81,663)
|
| Adjustments to reconcile net income/(loss) to net cash (used in)/ provided by operating activities: |
|
|
| Non-cash adjustments |
26,003
|
58,997
|
| (Increase)/decrease in operating assets |
(20,602)
|
9,933
|
| (Decrease)/increase in operating liabilities |
(17,016)
|
32,392
|
| Payments for drydock and special survey costs |
(15,609)
|
(14,129)
|
| Net cash (used in)/ provided by operating activities |
(1,365)
|
5,530
|
| INVESTING ACTIVITIES: |
|
|
| Acquisition of/additions to vessels |
(24,152)
|
(96,573)
|
| Deposits for vessels, port terminals and other fixed assets acquisitions |
(19,304)
|
(1,250)
|
| Deposits for option to acquire vessels |
0
|
(2,099)
|
| Loans from affiliate companies |
0
|
18,629
|
| Proceeds from lease receivable |
0
|
79
|
| Proceeds from sale of assets |
137,016
|
23,078
|
| Purchase of property, equipment and other fixed assets |
(2,729)
|
(1,328)
|
| Dividends received from affiliate companies |
243
|
2,919
|
| Net cash provided by/(used in) investing activities |
91,074
|
(56,545)
|
| FINANCING ACTIVITIES: |
|
|
| Repayment of long-term debt and payment of principal |
(115,270)
|
(20,111)
|
| Repurchase of senior notes |
(12,454)
|
(9,443)
|
| Repayment of loan payable to affiliate companies |
0
|
(31,500)
|
| Proceeds from loan payable to affiliate companies |
0
|
31,500
|
| Proceeds from long-term loans, net of deferred financing costs |
0
|
66,862
|
| Dividends paid to noncontrolling shareholders |
0
|
(9,948)
|
| Net cash (used in)/provided by financing activities |
(127,724)
|
27,360
|
| Decrease in cash and cash equivalents and restricted cash |
(38,015)
|
(23,655)
|
| Cash and cash equivalents and restricted cash, beginning of period |
111,184
|
78,727
|
| Cash and cash equivalents and restricted cash, end of period |
73,169
|
55,072
|
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |
|
|
| Cash paid for interest, net of capitalized interest |
72,105
|
62,040
|
| Cash paid for income taxes |
260
|
186
|
| Non-cash investing and financing activities |
|
|
| Sale of vessels |
5,766
|
0
|
| Proceeds from the Navios Logistics’ Seller’s Credit Agreement for the construction of six liquid barges |
2,246
|
0
|
| Proceeds from the Navios Logistics’ Seller’s Credit Agreement for the acquisition of Navios Logistics’ 2020 Fleet |
15,000
|
|
| Transfers from deposits for vessels, port terminals and other fixed assets |
57,107
|
0
|
| Deposits for vessels, port terminals and other fixed assets |
(356)
|
0
|
| Acquisition of/additions to vessels |
$ 0
|
$ (986)
|