Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2022 |
Jun. 30, 2021 |
| OPERATING ACTIVITIES: |
|
|
| Net income |
$ 42,150
|
$ 25,859
|
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: |
|
|
| Non-cash adjustments |
40,773
|
26,003
|
| Increase in operating assets |
(7,921)
|
(20,602)
|
| Increase /(decrease) in operating liabilities |
17,996
|
(17,016)
|
| Payments for drydock and special survey costs |
(6,905)
|
(15,609)
|
| Net cash provided by/(used in) operating activities |
86,093
|
(1,365)
|
| INVESTING ACTIVITIES: |
|
|
| Acquisition of/additions to vessels |
(1,576)
|
(24,152)
|
| Deposits for vessels, port terminals and other fixed assets acquisitions |
(2,054)
|
(19,304)
|
| Proceeds from sale of assets |
0
|
137,016
|
| Purchase of property, equipment and other fixed assets |
(2,657)
|
(2,729)
|
| Dividends received from affiliate companies |
0
|
243
|
| Net cash (used in)/provided by investing activities |
(6,287)
|
91,074
|
| FINANCING ACTIVITIES: |
|
|
| Repayment of long-term debt and payment of principal |
(57,415)
|
(115,270)
|
| Repayment of loans payable to affiliate companies |
(112,632)
|
0
|
| Repayment/repurchase of senior notes |
(520,466)
|
(12,454)
|
| Proceeds from long-term loans |
266,725
|
0
|
| Proceeds from loans payable to affiliate companies |
262,632
|
0
|
| Debt issuance costs |
(1,425)
|
0
|
| Repayment of finance lease liability |
(130)
|
0
|
| Net cash used in financing activities |
(162,711)
|
(127,724)
|
| Decrease in cash and cash equivalents and restricted cash |
(82,905)
|
(38,015)
|
| Cash and cash equivalents and restricted cash, beginning of period |
137,851
|
111,184
|
| Cash and cash equivalents and restricted cash, end of period |
54,946
|
73,169
|
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |
|
|
| Cash paid for interest, net of capitalized interest |
62,901
|
72,105
|
| Cash paid for income taxes |
61
|
260
|
| Non-cash investing and financing activities |
|
|
| Lease modification |
19,417
|
0
|
| Additions to vessels |
(389)
|
0
|
| Sale of vessels |
0
|
5,766
|
| Proceeds from the Navios Logistics’ Seller’s Credit Agreement for the construction of six liquid barges |
0
|
2,246
|
| Proceeds from the Navios Logistics’ Seller’s Credit Agreement for the acquisition of Navios Logistics’ 2020 Fleet |
0
|
15,000
|
| Transfers from deposits for vessels, port terminals and other fixed assets |
0
|
57,107
|
| Other long-term assets unpaid |
$ (835)
|
$ (356)
|