Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2023 |
Jun. 30, 2022 |
| OPERATING ACTIVITIES: |
|
|
| Net income |
$ 31,891
|
$ 42,150
|
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: |
|
|
| Non-cash adjustments |
(6,808)
|
40,403
|
| Decrease/(increase) in operating assets |
6,341
|
(7,921)
|
| Increase in operating liabilities |
667
|
18,366
|
| Payments for drydock and special survey costs |
(4,347)
|
(6,905)
|
| Net cash provided by operating activities |
27,744
|
86,093
|
| INVESTING ACTIVITIES: |
|
|
| Acquisition of/additions to vessels |
0
|
(1,576)
|
| Acquisition of Vimalcor |
(1,224)
|
0
|
| Deposits for vessels, port terminals and other fixed assets acquisitions |
(4,338)
|
(2,054)
|
| Purchase of property, equipment and other fixed assets |
(8,478)
|
(2,657)
|
| Proceeds of sale of vessels |
147
|
0
|
| Net cash used in investing activities |
(13,893)
|
(6,287)
|
| FINANCING ACTIVITIES: |
|
|
| Repayment of long-term debt and payment of principal |
(14,002)
|
(57,415)
|
| Repayment of loans payable to affiliate companies |
0
|
(112,632)
|
| Repayment/repurchase of senior notes |
|
(520,466)
|
| Proceeds from long-term loans |
0
|
266,725
|
| Proceeds from loans payable to affiliate companies |
0
|
262,632
|
| Debt issuance costs |
0
|
(1,425)
|
| Repayment of finance lease liability |
0
|
(130)
|
| Acquisition of noncontrolling interest |
(10,000)
|
0
|
| Net cash used in financing activities |
(24,002)
|
(162,711)
|
| Decrease in cash and cash equivalents and restricted cash |
(10,151)
|
(82,905)
|
| Cash and cash equivalents and restricted cash, beginning of period |
78,851
|
137,851
|
| Cash and cash equivalents and restricted cash, end of period |
68,700
|
54,946
|
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION |
|
|
| Cash paid for interest, net of capitalized interest |
29,189
|
62,901
|
| Cash paid for income taxes |
0
|
61
|
| Non-cash investing and financing activities |
|
|
| Lease modification |
0
|
19,417
|
| Purchase of property, equipment and other fixed assets |
(1,484)
|
(389)
|
| Other long-term assets unpaid |
(639)
|
(835)
|
| Transfer to Vessels, port terminals and other fixed assets, net |
1,907
|
0
|
| Acquisition of Vimalcor |
(200)
|
0
|
| Discontinued operations: |
|
|
| Net cash provided by operating activities of discontinued operations |
0
|
89,579
|
| Net cash used in investing activities of discontinued operations |
$ 0
|
$ (3,578)
|