Danaos Corporation
(NYSE:DAC)

Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2021, it had a fleet of 65 containerships...

Website: http://www.danaos.com

Founded: 1972

Sector: Industrials

Industry: Marine Shipping

Transportation Marine Shipping

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Quarterly

Annual

Unit: USD	2025-11-18	2025-06-30	2025-06-20	2025-03-31	2024-12-31	2024-11-12	2024-06-30	2024-06-21	2024-05-28	2023-12-31	2023-11-14	2023-06-30	2023-06-16	2023-05-16	2022-12-31	2022-11-08	2022-06-30	2022-06-17	2022-05-17	2021-12-31	2021-11-09	2021-06-30	2021-06-21	2021-05-10	2020-12-31	2020-11-06	2020-08-04	2020-05-19	2019-11-06	2019-08-06	2019-05-14	2018-11-16	2018-09-26	2018-07-09	2017-10-31	2017-08-01	2017-05-31	2016-12-16	2016-08-02	2016-05-05	2015-11-04	2015-08-04	2015-04-29	2014-10-30	2014-07-30	2014-05-06	2013-10-30	2013-07-29	2013-04-30	2012-11-30	2012-07-31	2012-06-19	2012-05-11	2011-11-09	2011-08-01	2011-05-10	2010-11-16	2010-09-30	2010-07-31	2009-11-12	2009-09-23	2008-11-06	2008-08-05	2008-06-20	2008-04-30	2007-12-31	2007-11-01	2007-07-30	2007-06-30	2007-04-30	2007-03-31	2006-12-31	2006-11-07

operating revenues	260,730,000	262,154,000	1,014,110,000	253,307,000	258,179,000	256,176,000	246,306,000	973,583,000	253,449,000	249,315,000	239,215,000	241,479,000	993,344,000	243,574,000	252,483,000	260,037,000	250,923,000	689,505,000	229,901,000	215,038,000	195,915,000	146,434,000	461,594,000	132,118,000	119,642,000	118,932,000	116,824,000	106,196,000	111,830,000	112,319,000	112,891,000	117,781,000	113,466,000	110,087,000	113,588,000	113,888,000	110,087,000	111,752,000	136,999,000	137,474,000	144,542,000	141,469,000	138,605,000	139,496,000	136,440,000	135,486,000	148,448,000	146,580,000	146,088,000	156,289,000	146,657,000	468,101,000	134,237,000	126,004,000	114,764,000	98,989,000	94,587,000	84,946,000	79,659,000	79,792,000	79,128,000	76,416,000	73,909,000		69,877,000		205,177,000	59,999,000	245,588,000	67,576,000	69,227,000	69,227,000	61,826,000
operating expenses
voyage expenses	-13,895,000	-16,810,000	-64,101,000	-18,135,000	-14,082,000	-16,999,000	-12,678,000	-41,010,000	-20,342,000	-15,769,000	-8,959,000	-8,399,000	-35,145,000	-7,883,000	-8,193,000	-10,320,000	-9,443,000	-24,325,000	-7,189,000	-7,076,000	-8,055,000	-4,966,000	-14,264,000	-4,228,000	-3,377,000	-3,552,000	-3,289,000	-4,046,000
vessel operating expenses	-52,256,000	-56,385,000	-185,724,000	-51,702,000	-45,654,000	-49,866,000	-47,090,000	-162,117,000	-43,114,000	-40,123,000	-39,494,000	-41,861,000	-158,972,000	-40,639,000	-40,043,000	-39,186,000	-40,579,000	-135,872,000	-39,164,000	-37,180,000	-34,674,000	-32,940,000	-110,946,000	-31,078,000	-28,714,000	-27,662,000	-28,568,000	-26,002,000
depreciation	-41,177,000	-40,698,000		-40,028,000	-26,992,250	-38,726,000	-35,380,000													-20,727,250	-31,011,000	-26,099,000	-101,531,000	-25,799,000	-25,927,000	-25,765,000	-25,258,000	-24,581,000
amortization of deferred drydocking and special survey costs	-10,762,000	-11,515,000	-29,161,000	-10,970,000	-9,252,000	-7,485,000	-6,972,000	-18,663,000	-5,452,000	-5,554,000	-4,772,000	-4,502,000	-12,170,000	-3,835,000	-3,164,000	-3,084,000	-3,202,000	-10,181,000	-2,720,000	-2,554,000	-2,573,000	-2,545,000	-11,032,000	-2,509,000	-2,607,000	-3,174,000	-2,941,000	-2,310,000
general and administrative expenses	-12,589,000	-11,206,000	-54,228,000	-12,222,000	-21,709,000	-10,978,000	-11,297,000	-43,484,000	-10,244,000	-22,377,000	-7,070,000	-7,192,000	-36,575,000	-6,845,000	-14,891,000	-7,157,000	-7,136,000	-43,951,000	-7,391,000	-18,584,000	-7,342,000	-7,130,000	-24,341,000	-10,895,000	-6,440,000	-6,048,000	-6,013,000	-5,840,000
gain on disposal of vessel
other income/
interest income	3,811,000	3,661,000	12,890,000	3,605,000	3,907,000	3,124,000	2,923,000	12,133,000	2,936,000	2,723,000	3,091,000	3,596,000	4,591,000	2,723,000	3,147,000	1,323,000	120,000	12,230,000	1,000	569,000	152,000	9,531,000	6,638,000	1,978,000	1,686,000	1,650,000	1,588,000	1,714,000	1,586,000	1,569,000	1,596,000	1,505,000	1,418,000	1,471,000	1,386,000	1,344,000	1,471,000	1,356,000	890,000	950,000	859,000	850,000	840,000	861,000	3,000	15,000	559,000	521,000	492,000	426,000	401,000	1,304,000	353,000	323,000	293,000	353,000	221,000	222,000	249,000	368,000	719,000	1,921,000	854,000		1,086,000		3,605,000	951,000	3,605,000	1,263,000	1,069,000	1,069,000	449,000
interest expense and finance costs	-8,541,000
gain on investments	8,383,000	14,734,000	-25,179,000	2,483,000	-35,574,000	-2,808,000	2,224,000	17,867,000	10,979,000			6,438,000	-176,386,000			-107,290,000	-168,635,000	577,994,000	99,539,000	74,310,000	59,519,000	196,290,000
dividend income	313,000	313,000	9,276,000	366,000	2,443,000	2,849,000	3,052,000	1,056,000	932,000	155,000	901,000		165,399,000			27,013,000	16,208,000		122,178,000
equity loss on investments	-189,000	-333,000	-1,629,000	-232,000	-191,000	-1,232,000	-97,000		-109,000	-963,000	-526,000	-738,000		-2,588,000
other finance expenses	-907,000	-973,000	-3,593,000	-987,000	-899,000	-944,000	-868,000	-4,274,000	-882,000	-916,000	-1,236,000	-1,146,000	-1,590,000	-976,000	-494,000	-155,000	-336,000	-1,326,000	-605,000	-193,000	-99,000	-582,000	-2,335,000	-452,000	-345,000	-330,000	-1,038,000	-622,000
other income/(expenses)	-277,000	-1,424,000	2,241,000	558,000	2,808,000	-746,000	-56,000	-812,000	235,000	-164,000	-1,117,000	294,000		175,000	318,000	411,000	362,000		499,000																																		196,000
loss on derivatives	-913,000	-903,000	-3,632,000	-893,000	-913,000	-913,000	-903,000	-3,622,000	-903,000	-913,000	-913,000	-903,000	-3,622,000	-893,000	-913,000	-913,000	-903,000	-3,622,000	-893,000	-913,000	-913,000	-903,000	-3,632,000	-893,000	-913,000	-913,000	-903,000	-903,000
loss on debt extinguishment	-1,082,000
total other income/(expenses)	598,000	5,364,000	-35,811,000	-5,103,000	-38,361,000	-8,683,000	1,169,000	-4,362,000	10,064,000	17,952,000	-13,439,000	-594,000	-75,976,000	-8,281,000	-37,678,000	-95,579,000	-146,324,000	700,472,000	203,605,000	56,251,000	104,967,000	300,083,000		239,171,000								74,842,000
income before income taxes	130,649,000		505,073,000					576,299,000		149,921,000	133,156,000	147,021,000	577,460,000	146,201,000	152,721,000	70,570,000	10,486,000	1,058,731,000	343,683,000
income taxes													-18,250,000			-3,770,000	-2,262,000	-5,890,000	-12,218,000
net income	130,649,000	130,904,000	505,073,000	115,147,000	90,427,000	122,996,000	141,152,000	576,299,000	150,498,000	149,921,000	133,156,000	147,021,000	559,210,000	146,201,000	152,721,000	66,800,000	8,224,000	1,052,841,000	331,465,000	165,997,000	217,227,000	372,837,000	153,550,000	296,780,000	43,179,000	42,786,000	38,496,000	29,089,000	33,855,000	30,138,000	33,443,000	127,217,000	5,838,000	18,443,000		20,229,000	18,443,000		44,648,000	44,121,000	42,068,000	38,072,000	30,342,000	22,406,000	16,643,000	8,407,000	8,788,000	19,539,000	13,432,000	-7,034,000	8,966,000	13,437,000	9,342,000	-833,000	-231,000	5,443,000	978,000	-14,665,000	-79,765,000	16,372,000	15,854,000	27,933,000	32,215,000		31,522,000		101,082,000	22,897,000	101,082,000	100,366,000	30,562,000	30,562,000	26,140,000
yoy	44.48%	6.43%	257.82%	-80.02%	-39.91%	-17.96%	6.00%	291.98%	-73.09%	2.54%	-12.81%	120.09%	6699.73%	-86.11%	-53.93%	-59.76%	-96.21%	182.39%	115.87%	-44.07%	403.08%	771.40%	298.87%	920.25%	27.54%	41.97%	15.11%	-77.13%	479.91%	63.41%		528.88%	-68.35%			-54.15%	-56.16%		47.15%	96.92%	152.77%	352.86%	245.27%	14.67%	23.91%	-219.52%	-1.99%	45.41%	43.78%	744.42%	-3981.39%	146.87%	855.21%	-94.32%	-99.71%	-66.75%	-93.83%	-152.50%	-347.60%		-49.70%		-68.13%		-68.82%		230.74%	-25.08%	286.69%
qoq	-0.19%	-74.08%	338.63%	27.34%	-26.48%	-12.86%	-75.51%	282.93%	0.38%	12.59%	-9.43%	-73.71%	282.49%	-4.27%	128.62%	712.26%	-99.22%	217.63%	99.68%	-23.58%	-41.74%	142.81%	-48.26%	587.32%	0.92%	11.14%	32.34%	-14.08%	12.33%	-9.88%	-73.71%	2079.12%	-68.35%			9.68%			1.19%	4.88%	10.50%	25.48%	35.42%	34.63%	97.97%	-4.34%	-55.02%	45.47%	-290.96%	-178.45%	-33.27%	43.83%	-1221.49%	260.61%	-104.24%	456.54%	-106.67%	-81.61%	-587.20%	3.27%	-43.24%	-13.29%					341.46%	-77.35%	0.71%	228.40%	0.00%	16.92%
earnings per share
basic earnings per share of common stock	7.14		26.15					28.99					27.3					51.75					6.51
diluted earnings per share of common stock	7.11		26.05					28.95					27.28					51.15					6.45
basic weighted-average number of common shares	18,310	18,344	19,316,453	18,750	19,316,453	19,345	19,348	19,879,161	19,412	19,879,161	19,693	20,081	20,481,894	20,349	20,481,894	20,299	20,689	20,345,394	20,697	20,345,394	20,354	20,354	23,588,994	20,293	23,588,994	24,573	24,573	24,573	14,939	14,939		164,870
diluted weighted-average number of common shares	18,384	18,396	19,384,879	18,781	19,384,879	19,517	19,520	19,903,655	19,584	19,903,655	19,693	20,081	20,501,021	20,349	20,501,021	20,318	20,708	20,583,796	20,717	20,583,796	20,598	20,599	23,805,251	20,513	23,805,251	24,789	24,789	24,789	15,373	15,314		165,597
net gain on disposal of vessel
income from operations		125,540,000		120,250,000	103,024,000	131,679,000	139,983,000	580,661,000	140,434,000	131,969,000	146,595,000	147,615,000	653,436,000	154,482,000	190,399,000	166,149,000	156,810,000	358,259,000	140,078,000	115,636,000	112,260,000	72,754,000	199,480,000	57,609,000	52,577,000	52,731,000	50,755,000	43,417,000	51,151,000	49,687,000	50,924,000	52,375,000	48,655,000	42,072,000	48,643,000	47,259,000	42,072,000	26,493,000	66,860,000	66,778,000	73,854,000	69,622,000	69,293,000	68,881,000	68,912,000	62,120,000	73,719,000	71,949,000	73,093,000	76,057,000	70,844,000	205,203,000	63,532,000	56,635,000	50,911,000	41,574,000	39,297,000	39,284,000		33,663,000	32,909,000	34,113,000	40,854,000		37,831,000		108,774,000	46,930,000	147,987,000	107,646,000	37,746,000	37,746,000	33,923,000
yoy		-4.66%		-79.29%	-26.64%	-0.22%	-4.51%	293.36%	-78.51%	-14.57%	-23.01%	-11.16%	316.71%	-56.88%	35.92%	43.68%	39.68%	392.43%	-29.78%	100.73%	113.52%	37.97%	293.03%	32.69%	2.79%	6.13%	-0.33%	-17.10%	5.13%	18.10%	4.69%	10.83%	15.65%	58.80%	-27.25%	-29.23%	-43.03%	-61.95%	-3.51%	-3.05%	7.17%	12.08%	-6.00%	-4.26%	-5.72%	-18.32%	4.06%	-64.94%	15.05%	34.29%	39.15%	393.58%	61.67%	44.17%		23.50%	19.41%	15.16%			-13.01%		-62.44%		-74.44%		188.17%	24.33%	336.24%
qoq				16.72%	-21.76%	-5.93%	-75.89%	313.48%	6.41%	-9.98%	-0.69%	-77.41%	322.99%	-18.86%	14.60%	5.96%	-56.23%	155.76%	21.14%	3.01%	54.30%	-63.53%	246.27%	9.57%	-0.29%	3.89%	16.90%	-15.12%	2.95%	-2.43%	-2.77%	7.65%	15.65%	-13.51%	2.93%	12.33%	58.80%	-60.38%	0.12%	-9.58%	6.08%	0.47%	0.60%	-0.04%	10.93%	-15.73%	2.46%	-1.57%	-3.90%	7.36%	-65.48%	222.99%	12.18%	11.24%	22.46%	5.79%	0.03%			2.29%	-3.53%	-16.50%					131.78%	-68.29%	37.48%	185.19%	0.00%	11.27%
other income													-6,578,000					4,543,000		61,000	338,000	173,000	593,000	3,971,000			19,000	251,000			67,000										108,000	28,000	7,000	36,000	233,000	54,000	27,000	232,000		287,000	280,000			118,000			12,579,000	87,000		123,000			211,000										95,000
interest expense		-9,711,000	-26,185,000	-10,003,000	-9,942,000	-8,013,000	-5,106,000	-20,463,000	-3,124,000	-3,554,000	-4,306,000	-5,881,000	-62,141,000	-6,722,000	-12,980,000	-15,968,000	-16,079,000	-68,991,000	-17,114,000	-17,583,000	-18,093,000	-18,204,000	-53,502,000	-15,111,000	-11,637,000	-11,907,000	-13,645,000	-16,313,000
basic earnings per share		7.14		6.14	5.353	6.36	7.3		7.75	5.32	6.76	7.32		7.18	4.943	3.29	0.4		16.02	10.903	10.67	18.32		14.62	1.123	1.74	1.57	1.18	2.27	2.02	2.24	0.77
diluted earnings per share		7.12		6.13	5.305	6.3	7.23		7.68	5.32	6.76	7.32		7.18	4.938	3.29	0.4		16	10.778	10.55	18.1		14.47	1.113	1.73	1.55	1.17	2.2	1.97	2.19	0.77
depreciation and amortization of right-of-use assets			-148,344,000					-129,287,000	-33,863,000	-33,523,000	-32,325,000	-31,910,000	-134,271,000	-31,529,000	-33,018,000	-34,141,000	-33,753,000	-116,917,000	-33,359,000
net gain on disposal/sale of vessels			8,332,000		1,681,000	-443,000	7,094,000
gain on debt extinguishment								-2,254,000				-2,254,000	4,351,000		-18,588,000		22,939,000	111,616,000				111,616,000										116,365,000
gain on sale of vessels								1,639,000					37,225,000	1,639,000																															5,216,000	493,000		171,000											1,916,000				9,346,000		5,582,000			14,954,000	14,954,000	72,696,000
equity income on investments								-3,993,000										68,028,000			64,063,000	2,162,000	6,308,000	1,803,000	1,579,000	1,464,000			560,000			728,000	210,000	206,000		149,000
loss on investments										-723,750	-9,333,000

impairment loss
total other expenses																							-45,930,000
change in fair value of investments																								247,875,000
other income/(loss)																									90,250	91,000
total other incomes																									-9,133,000	-9,945,000	-12,259,000	-14,328,000
equity income/(loss) on investments																											1,720,000	1,545,000		32,000					278,000		206,000
other income/(expense)																														367,000										423,000
basic weighted average number of common shares																															14,939
diluted weighted average number of common shares																															15,237
other incomes
basic and diluted earnings per share																																	0.05			0.18	0.17		0.41	0.4
basic and diluted weighted-average number of common shares																																	109,799		109,825	109,825	109,825	109,800	109,800	109,800	109,785	109,785	109,785	109,669	109,669		109,653	109,653									83,346	54,556	54,549	54,551	54,551
depreciation & amortization
general & administrative
other operating expenses
realized loss on derivatives
basic & diluted earnings per share																																		0.17
basic & diluted weighted-average number of common shares																																		109,825
bad debt expense
loss on sale of vessels
net unrealized and realized losses on derivatives
net income/																																			22,427,000			-8,397,000
basic and diluted earnings/(loss) per share																																			0.2			-0.08
other finance costs
unrealized and realized losses on derivatives
basic and diluted net income per share																																									0.38	0.35	0.28	0.2	0.15	0.08	0.08	0.18	0.12	-0.06	0.08	0.12	0.09	-0.01		0.05	0.01	-0.27	-1.46	0.3	0.29	0.51	0.62		0.58		1.4	0.52	2.16
total other (expenses) income
basic and diluted weighted average number of common shares																																														109,669			109,653	109,613	109,611		109,605	109,003	108,975	108,611
total other income (expenses)
gain on sale of vessel																																																			830,000
other comprehensive income/
change in fair value of financial instruments																																																			23,415,000	29,766,000	17,121,000
deferred realized losses on cash flow hedges amortized over the life of the newbuildings
amortization of deferred realized losses on cash flow hedges																																																		1,012,000
reclassification of unrealized losses to earnings																																																		35,731,000
total other comprehensive income																																																		36,743,000	21,751,000		11,406,000
comprehensive income/																																																		29,709,000	30,717,000
general and administration expenses
deferred realized losses on cash flow hedges amortized over the life of the newbuildings, net of amortization
operating expenses:
other finance (expenses)/income
other comprehensive income
comprehensive income																																																				-6,102,000	20,748,000
basic and diluted weighted-average number of shares																																																				109,045,468										54,558	54,558		54,558		46,750,651	44,308	46,750,651			46,750,651
unrealized and realized loss on derivatives
loss on fair value of derivatives
gain on fair value of derivatives																																																														1,491,000	413,000		1,490,000
net income from continuing operations																																																												16,372,000	15,854,000	27,971,000	33,742,000		31,517,000		65,419,000
net loss from discontinued operations
basic and diluted net loss per share
other income (expense)																																																														822,000
net income from discontinued operations																																																														-38,000	-1,527,000		5,000		35,663,000
cscl pusan																																																																2,018,000
msc baltic																																																																2,016,000
cscl europe																																																																2,016,000
maersk marathon																																																																2,011,000
maersk messologi																																																																2,011,000
maersk mytilini																																																																2,011,000
mol affinity																																																																2,011,000
hyundai duke																																																																2,011,000
mol confidence																																																																2,012,000
ym colombo
ym singapore																																																																2,019,000
ym seattle																																																																2,019,000
ym vancouver																																																																2,019,000
maersk derby																																																																2,009,000
maersk deva																																																																2,009,000
al rayyan																																																																2,011,000
ym yantian																																																																2,011,000
ym milano																																																																2,011,000
sa helderberg																																																																2,008,000
sederberg																																																																2,009,000
cma cgm lotus																																																																2,010,000
cma cgm vanille																																																																2,010,000
cma cgm passiflore																																																																2,010,000
cma cgm elbe																																																																2,010,000
cma cgm kalamata																																																																2,010,000
cma cgm komodo																																																																2,010,000
hyundai advance																																																																2,017,000
hyundai future																																																																2,017,000
hyundai sprinter																																																																2,017,000
hyundai stride																																																																2,017,000
hyundai progress																																																																2,017,000
hyundai bridge																																																																2,018,000
hyundai highway																																																																2,018,000
hyundai vladivostok																																																																2,017,000
montreal senator																																																																2,017,000
msc eagle																																																																2,010,000
other income:
other expenses
bad debts expense
interest expenses
other finance (costs) income																																																																			2,049,000		1,938,000
other income (expenses)
other earnings
other finance income (cost)																																																																				1,968,000				598,750
gain on derivatives																																																																						108,000
other income /
basic and dilluted net income per share																																																																						1.84
basic and dilluted weighted-average number of shares																																																																						54,558
earnings per share, basic and diluted																																																																							0.57	0.398	0.59
basic and diluted weighted-average number of shares in ‘000																																																																							54,000		44,308

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-09-30	2019-06-30	2019-05-14	2019-03-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2017-08-01	2017-06-30	2017-03-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-05-06	2014-03-31	2013-10-30	2013-09-30	2013-07-29	2013-04-30	2013-03-31	2012-11-30	2012-09-30	2012-07-31	2012-06-30	2012-06-19	2012-05-11	2012-03-31	2011-11-09	2011-09-30	2011-08-01	2011-06-30	2011-05-10	2011-03-31	2010-11-16	2010-09-30	2010-07-31	2010-06-30	2010-03-31	2009-11-12	2009-09-30	2009-09-23	2009-06-30	2008-11-06	2008-09-30	2008-08-05	2008-06-30	2008-04-30	2008-03-31	2007-11-01	2007-09-30	2007-07-30	2007-06-30	2007-04-30	2007-03-31	2006-12-31	2006-11-07

assets
current assets
cash and cash equivalents	596,371,000	546,164,000	480,543,000	453,384,000	384,336,000	372,446,000	324,326,000	271,809,000	306,290,000	293,331,000	359,580,000	267,668,000	556,343,000	319,573,000	185,317,000	129,410,000	93,208,000	294,418,000	68,104,000	65,663,000	106,368,000	84,955,000	97,019,000	82,823,000	78,803,000	81,309,000	81,309,000	80,133,000	72,423,000	62,979,000	66,965,000	63,820,000	63,820,000	65,377,000	128,244,000	101,060,000	90,641,000	96,197,000	74,135,000	65,750,000	64,633,000	51,506,000	59,026,000	59,026,000	80,494,000	80,494,000	75,034,000	81,804,000	81,804,000	37,575,000	37,575,000	47,218,000	47,218,000	51,362,000	41,732,000	41,732,000	64,267,000	64,267,000	96,717,000	96,717,000	131,850,000	131,850,000	288,640,000	82,614,000	104,685,000	82,614,000	104,685,000	125,373,000	125,373,000	156,721,000	156,721,000	66,495,000	66,495,000	101,663,000	101,663,000	63,715,000	63,715,000	75,522,000	75,522,000	56,415,000	43,075,000	35,506,000	43,075,000	43,075,000	32,750,000
accounts receivable	30,832,000	27,454,000	25,046,000	25,578,000	24,647,000	22,726,000	13,383,000	9,931,000	7,351,000	8,091,000	7,574,000	5,635,000	5,132,000	5,540,000	7,133,000	7,118,000	7,025,000	7,112,000	7,343,000	7,556,000	10,846,000	12,552,000	7,921,000	7,637,000	7,496,000	7,443,000	7,443,000	8,818,000	15,794,000	6,741,000	11,113,000	11,844,000	11,844,000	9,358,000	4,052,000	21,359,000	15,278,000	7,852,000	5,183,000	6,579,000	6,655,000	8,743,000	7,344,000	7,344,000	4,437,000	4,437,000	10,669,000	13,096,000	13,096,000	9,761,000	9,761,000	5,439,000	5,439,000	4,176,000	6,020,000	6,020,000	5,797,000	5,797,000	5,074,000	5,074,000	3,500,000	3,500,000	4,219,000	4,322,000	4,546,000	4,322,000	4,546,000	2,695,000	2,695,000	1,454,000	1,454,000	2,504,000	2,504,000	2,277,000	2,277,000	2,967,000	2,967,000	1,273,000	1,273,000	1,687,000	2,170,000	2,861,000	2,170,000	2,170,000	1,783,000
inventories	20,659,000	21,621,000	27,053,000	23,881,000	23,693,000	21,909,000	20,097,000	24,511,000	16,831,000	16,022,000	15,692,000	16,099,000	15,860,000	14,442,000	12,386,000	12,579,000	12,037,000	9,799,000	9,272,000	9,619,000	9,021,000	9,358,000	8,707,000	8,966,000	9,165,000	9,493,000	9,493,000	9,740,000	9,057,000		9,233,000	8,961,000	8,961,000	10,580,000	12,386,000	9,809,000	11,138,000	10,645,000	10,926,000	11,140,000	11,427,000	11,320,000	14,278,000	14,278,000	14,528,000	14,528,000	15,405,000	15,305,000	15,305,000	16,719,000	16,719,000	16,587,000	16,587,000	16,187,000	17,048,000	17,048,000	14,767,000	14,767,000	12,218,000	12,218,000	10,745,000	10,745,000	9,707,000	8,329,000	7,928,000	8,329,000	7,928,000	7,789,000	7,789,000	8,145,000	8,145,000	8,028,000	8,028,000	6,559,000	6,559,000	6,538,000	6,538,000	5,074,000	5,074,000		3,772,000			3,772,000
prepaid expenses	2,165,000	4,939,000	4,553,000	1,902,000	1,575,000	1,868,000	2,341,000	1,915,000	1,408,000	2,635,000	1,472,000	1,312,000	2,399,000	3,211,000	1,926,000	2,032,000	1,046,000	1,222,000	1,166,000	855,000	1,653,000	1,353,000	938,000	899,000	1,142,000	1,674,000	1,674,000	1,441,000	1,961,000		715,000	1,484,000	1,484,000	1,778,000	1,380,000	1,769,000	1,713,000	1,004,000	980,000	881,000	382,000	694,000	965,000	965,000	372,000	372,000	708,000	511,000	511,000	330,000	330,000	302,000	302,000	1,311,000	627,000	627,000	132,000	132,000	987,000	987,000	625,000	625,000	362,000	296,000	1,164,000	296,000	1,164,000	696,000	696,000	437,000	437,000	1,561,000	1,561,000	1,297,000	1,297,000	683,000	683,000	757,000	757,000		1,338,000			1,338,000
due from related parties	50,232,000	49,102,000	55,598,000	52,572,000	47,122,000	46,795,000	49,485,000	51,431,000	41,728,000	32,912,000	31,919,000	34,002,000	31,612,000	32,118,000	22,726,000	21,875,000	23,562,000	21,326,000	21,232,000	20,426,000	20,851,000	22,376,000	22,063,000	20,409,000	20,084,000	20,084,000	20,084,000	13,127,000	34,939,000		32,747,000	32,370,000	32,370,000	32,074,000	32,696,000	32,131,000	30,868,000	19,755,000	18,792,000	14,235,000	10,141,000	13,464,000	13,687,000	13,687,000	12,466,000	12,466,000	8,052,000	10,137,000	10,137,000	5,368,000	5,368,000			9,128,000			11,550,000	11,550,000	10,299,000	10,299,000	10,719,000	10,719,000	8,301,000	6,721,000	8,279,000	6,721,000	8,279,000	8,330,000	8,330,000	6,654,000	6,654,000	8,515,000	8,515,000	8,351,000	8,351,000	8,088,000	8,088,000	8,788,000	8,788,000		2,863,000			2,863,000
other current assets	167,051,000	158,162,000	113,036,000	113,650,000	148,612,000	152,375,000	153,499,000	142,173,000	124,589,000	134,792,000	53,548,000	47,805,000	44,458,000	313,909,000	679,787,000	459,132,000	436,705,000	14,609,000	89,679,000	14,329,000	13,881,000	14,144,000	15,425,000	6,854,000	6,175,000	5,064,000	5,064,000	6,421,000	5,712,000	53,086,000	6,994,000	5,858,000	5,858,000	12,368,000	4,015,000	3,638,000	4,904,000	5,971,000	8,676,000	9,688,000	11,627,000	14,671,000	18,975,000	18,975,000	6,600,000	6,600,000	5,901,000	5,396,000	5,396,000	5,000,000	5,000,000	6,399,000	6,399,000	8,218,000	7,080,000	7,080,000	10,495,000	10,495,000	12,638,000	12,638,000	9,616,000	9,616,000	5,135,000	4,657,000	3,134,000	4,657,000	3,134,000	2,508,000	2,508,000	4,133,000	4,133,000	3,886,000	3,886,000	3,634,000	3,634,000	6,520,000	6,520,000	6,660,000	6,660,000	18,125,000	3,989,000	18,815,000	11,962,000	3,989,000	15,452,000
total current assets	867,310,000	807,442,000	705,829,000	670,967,000	629,985,000	618,119,000	563,131,000	501,770,000	498,197,000	487,783,000	469,785,000	372,521,000	668,804,000	701,793,000	922,622,000	632,492,000	573,932,000	348,486,000	196,796,000	118,448,000	162,620,000	144,738,000	152,073,000	127,588,000	122,865,000	125,067,000	125,067,000	119,680,000	142,698,000		127,767,000	127,149,000	127,149,000	131,535,000	183,468,000	175,646,000	154,549,000	141,424,000	121,516,000	108,282,000	105,306,000	103,648,000	114,729,000	114,729,000	118,925,000	118,925,000	118,584,000	126,258,000	126,258,000	74,761,000	74,761,000	78,765,000	78,765,000	93,291,000	72,604,000	72,604,000	107,104,000	107,104,000	140,842,000	140,842,000	167,150,000	167,150,000	330,079,000	131,033,000	325,395,000	131,033,000	325,395,000	292,268,000	292,268,000	308,539,000	308,539,000	419,977,000	419,977,000	169,243,000	169,243,000	129,718,000	129,718,000	132,377,000	132,377,000		59,700,000			59,700,000
non-current assets
fixed assets at cost, net of accumulated depreciation of 1,580,882	3,245,135,000
advances for vessels under construction	396,798,000			265,838,000				301,916,000		215,786,000	194,738,000	190,736,000	89,747,000	81,162,000																																								524,286,000	275,697,000	275,697,000	582,552,000	582,552,000	676,850,000	676,850,000	824,973,000	824,973,000	916,638,000	1,062,140,000	1,120,542,000	1,062,140,000	1,120,542,000	1,101,759,000	1,101,759,000	1,077,656,000	1,077,656,000	1,011,943,000	1,011,943,000	991,404,000	991,404,000	882,814,000	882,814,000	441,263,000	441,263,000		193,016,000			193,016,000
deferred charges	60,830,000	64,079,000	63,578,000	58,759,000	46,133,000	39,546,000	36,069,000	38,012,000	33,998,000	31,777,000	31,461,000	25,554,000	18,954,000	15,605,000	18,336,000	11,801,000	11,327,000	13,440,000	15,737,000	17,339,000	16,427,000	19,584,000	13,995,000	11,720,000	10,467,000	10,961,000	10,961,000	13,979,000	15,061,000	13,512,000	9,570,000	9,312,000	9,312,000	10,552,000	9,567,000	8,715,000	6,834,000	42,997,000	47,236,000	50,802,000	57,185,000	61,775,000	65,149,000	65,149,000	72,702,000	72,702,000	77,951,000	82,686,000	82,686,000	91,560,000	91,560,000	94,767,000	94,767,000	99,711,000	97,447,000	97,447,000	103,667,000	103,667,000	108,115,000	108,115,000	109,953,000	109,953,000	20,592,000	16,641,000	18,692,000	16,641,000	18,692,000	22,711,000	22,711,000	20,711,000	20,711,000	15,358,000	15,358,000	14,246,000	14,246,000	12,694,000	12,694,000	10,746,000	10,746,000	11,133,000	9,399,000	9,511,000	9,399,000	9,399,000	12,117,000
other non-current assets	44,662,000	60,288,000	64,186,000	57,781,000	62,949,000	77,132,000	76,518,000	72,627,000	79,226,000	86,173,000	91,964,000	89,923,000	75,368,000	62,677,000	53,486,000	41,739,000	74,457,000	389,319,000	275,378,000	83,383,000	61,465,000	56,971,000	71,199,000	78,231,000	73,931,000	64,204,000	64,204,000	63,476,000	58,924,000	54,334,000	31,777,000	29,545,000	29,545,000	29,388,000	100,474,000	74,242,000	73,106,000	71,067,000	70,345,000	69,408,000	67,996,000	27,600,000	28,989,000	28,989,000	45,583,000	45,583,000	40,176,000	38,014,000	38,014,000	35,829,000	35,829,000	33,541,000	33,541,000	28,865,000	31,201,000	31,201,000	26,867,000	26,867,000	24,086,000	24,086,000	21,497,000	21,497,000	18,452,000	15,373,000	12,012,000	15,373,000	12,012,000	5,632,000	5,632,000	4,938,000	4,938,000	966,000	966,000	165,000	165,000	3,212,000	3,212,000
total non-current assets	3,747,425,000	3,713,718,000	3,733,026,000	3,672,687,000	3,623,833,000	3,428,238,000	3,246,619,000	3,159,366,000	3,055,742,000	2,996,649,000	3,011,537,000	3,027,707,000	3,027,484,000	3,036,310,000	2,981,599,000	2,994,633,000	3,004,673,000	2,851,644,000	3,057,766,000	2,595,932,000	2,533,401,000	2,555,341,000	2,509,434,000	2,510,096,000	2,525,440,000	2,539,335,000	2,539,335,000	2,801,667,000	2,824,064,000		2,870,729,000	2,895,966,000	2,895,966,000	2,925,564,000	3,484,420,000	3,482,648,000	3,506,629,000	3,646,936,000	3,677,116,000	3,712,221,000	3,858,885,000	3,875,024,000	3,905,364,000	3,905,364,000	4,011,378,000	4,011,378,000	4,040,584,000	4,076,492,000	4,076,492,000	4,282,055,000	4,282,055,000	4,321,389,000	4,321,389,000	3,894,813,000	4,097,302,000	4,097,302,000	3,739,783,000	3,739,783,000	3,620,081,000	3,620,081,000	3,422,175,000	3,422,175,000	3,192,522,000	2,992,622,000	2,804,523,000	2,992,622,000	2,804,523,000	2,787,142,000	2,787,142,000	2,709,621,000	2,709,621,000	2,321,686,000	2,321,686,000	2,186,776,000	2,186,776,000	2,097,107,000	2,097,107,000	1,492,738,000	1,492,738,000		1,237,490,000			1,237,490,000
total assets	4,614,735,000	4,521,160,000	4,438,855,000	4,343,654,000	4,253,818,000	4,046,357,000	3,809,750,000	3,661,136,000	3,553,939,000	3,484,432,000	3,481,322,000	3,400,228,000	3,696,288,000	3,738,103,000	3,904,221,000	3,627,125,000	3,578,605,000	3,200,130,000	3,254,562,000	2,714,380,000	2,696,021,000	2,700,079,000	2,661,507,000	2,637,684,000	2,648,305,000	2,664,402,000	2,664,402,000	2,921,347,000	2,966,762,000	2,966,251,000	2,998,496,000	3,023,115,000	3,023,115,000	3,057,099,000	3,667,888,000	3,658,294,000	3,661,178,000	3,788,360,000	3,798,632,000	3,820,503,000	3,964,191,000	3,978,672,000	4,020,093,000	4,020,093,000	4,130,303,000	4,130,303,000	4,159,168,000	4,202,750,000	4,202,750,000	4,356,816,000	4,356,816,000	4,400,154,000	4,400,154,000	3,988,104,000	4,169,906,000	4,169,906,000	3,846,887,000	3,846,887,000	3,760,923,000	3,760,923,000	3,589,325,000	3,589,325,000	3,522,601,000	3,123,655,000	3,129,918,000	3,123,655,000	3,129,918,000	3,079,410,000	3,079,410,000	3,018,160,000	3,018,160,000	2,741,663,000	2,741,663,000	2,356,019,000	2,356,019,000	2,226,825,000	2,226,825,000	1,625,115,000	1,625,115,000	1,446,834,000	1,297,190,000	1,310,697,000	1,297,190,000	1,297,190,000	1,161,254,000
liabilities and stockholders’ equity
current liabilities
accounts payable	23,364,000	23,595,000	32,153,000	29,039,000	24,820,000	23,565,000	22,250,000	22,820,000	18,104,000	17,533,000	23,470,000	24,505,000	18,476,000	18,559,000	21,718,000	18,925,000	15,165,000	11,835,000	12,709,000	10,613,000	11,628,000	20,903,000	12,838,000	12,414,000	11,350,000	10,418,000	10,418,000	15,477,000	16,290,000		11,711,000	13,849,000	13,849,000	12,747,000	15,998,000	11,937,000	12,688,000	11,177,000	11,195,000	10,655,000	12,825,000	13,720,000	19,979,000	19,979,000	12,332,000	12,332,000	12,573,000	13,239,000	13,239,000	11,615,000	11,615,000	19,251,000	19,251,000	15,144,000	19,552,000	19,552,000	13,124,000	13,124,000	17,331,000	17,331,000	16,051,000	16,051,000	84,664,000	59,595,000	62,429,000	59,595,000	62,429,000	15,865,000	15,865,000	11,019,000	11,019,000	11,217,000	11,217,000	13,123,000	13,123,000	14,335,000	14,335,000	9,662,000	9,662,000		9,652,000			9,652,000
accrued liabilities	16,237,000	23,385,000	17,975,000	23,644,000	16,656,000	24,639,000	15,182,000	20,458,000	16,682,000	21,907,000	17,062,000	21,362,000	20,624,000	26,743,000	23,694,000	20,846,000	12,928,000	19,881,000	14,845,000	10,960,000	8,770,000	14,620,000	13,691,000	9,692,000	10,765,000	12,799,000	12,799,000	12,584,000	18,400,000		17,119,000	15,823,000	15,823,000	16,903,000	17,410,000	14,628,000	15,265,000	19,137,000	19,281,000	23,990,000	28,377,000	29,203,000	33,030,000	33,030,000	34,271,000	34,271,000	33,134,000	35,494,000	35,494,000	39,926,000	39,926,000	39,327,000	39,327,000	36,117,000	37,444,000	37,444,000	41,273,000	41,273,000	44,497,000	44,497,000	38,836,000	38,836,000	46,804,000	43,827,000	34,634,000	43,827,000	34,634,000	24,985,000	24,985,000	21,888,000	21,888,000	10,838,000	10,838,000	11,509,000	11,509,000	5,963,000	5,963,000	2,965,000	2,965,000		5,093,000			5,093,000
current portion of long-term debt	77,288,000	37,660,000	37,660,000	35,220,000	31,720,000	25,160,000	20,495,000	21,300,000	24,400,000	27,500,000	27,500,000	27,500,000	71,500,000	71,500,000	94,150,000	95,750,000	96,300,000	93,450,000	111,130,000	155,662,000	126,326,000	123,084,000	119,525,000	115,551,000	113,826,000	112,588,000	112,588,000	118,517,000	134,861,000		2,367,884,000	2,408,704,000	2,408,704,000	2,454,696,000	2,590,107,000	272,408,000	264,656,000	254,286,000	230,249,000	196,643,000	157,390,000	150,062,000	139,210,000	139,210,000	153,241,000	153,241,000	145,941,000	139,464,000	139,464,000	96,023,000	96,023,000	70,461,000	70,461,000	41,959,000	41,958,000	41,958,000	28,399,000	28,399,000	21,619,000	21,619,000	21,619,000	21,619,000	2,522,588,000	2,360,375,000	2,369,646,000	2,360,375,000	2,369,646,000
unearned revenue	41,780,000	41,519,000	47,085,000	49,665,000	58,654,000	51,528,000	54,842,000	63,823,000	76,471,000	89,912,000	99,678,000	111,149,000	134,307,000	154,111,000	69,831,000	83,180,000	78,310,000	20,754,000	19,487,000	19,476,000	16,481,000	18,240,000	17,291,000	19,417,000	19,556,000	19,899,000	19,899,000	19,816,000	19,284,000		23,856,000	24,552,000	24,552,000	26,541,000	30,330,000	11,624,000	9,970,000	15,019,000	14,552,000	13,194,000	13,969,000	7,862,000	7,070,000	7,070,000	7,118,000	7,118,000	6,089,000	5,149,000	5,149,000	7,424,000	7,424,000	8,147,000	8,147,000	6,993,000	10,130,000	10,130,000	12,263,000	12,263,000	7,824,000	7,824,000	8,776,000	8,776,000	9,045,000	6,069,000	5,181,000	6,069,000	5,181,000											4,639,000	4,639,000		6,743,000			6,743,000
other current liabilities	29,207,000	24,559,000	27,679,000	31,386,000	28,557,000	22,856,000	32,053,000	39,759,000	37,424,000	28,220,000	19,576,000	16,422,000	16,311,000	18,878,000	19,101,000	8,645,000	11,197,000	13,734,000	418,000	423,000	423,000	7,848,000	7,848,000	15,317,000	18,363,000	23,988,000	23,988,000	37,215,000	759,000		788,000	1,029,000	1,029,000	4,178,000	10,799,000	3,184,000	4,101,000	12,566,000	22,346,000	33,793,000	70,735,000	90,897,000	103,209,000	103,209,000	120,034,000	120,034,000	121,246,000	127,070,000	127,070,000	111,494,000	111,494,000	113,514,000	113,514,000	120,623,000	118,388,000	118,388,000	132,138,000	132,138,000	136,602,000	136,602,000	134,507,000	134,507,000	126,696,000	110,840,000	110,037,000	110,840,000	110,037,000	85,319,000	85,319,000	68,648,000	68,648,000			630,000	630,000	1,326,000	1,326,000	1,504,000	1,504,000		1,466,000			1,466,000
total current liabilities	187,876,000	150,718,000	162,552,000	168,954,000	160,407,000	147,748,000	144,822,000	168,160,000	173,081,000	185,072,000	252,880,000	228,407,000	288,295,000	336,076,000	322,521,000	319,307,000	391,763,000	228,824,000	190,620,000	239,685,000	217,473,000	238,932,000	220,867,000	222,203,000	223,308,000	215,235,000	215,235,000	239,424,000	189,594,000		2,421,358,000	2,463,957,000	2,463,957,000	2,515,065,000	2,664,644,000	313,781,000	306,680,000	340,717,000	333,296,000	317,567,000	333,445,000	349,132,000	359,886,000	359,886,000	384,384,000	384,384,000	376,371,000	377,804,000	377,804,000	313,175,000	313,175,000	319,120,000	319,120,000	231,693,000	263,505,000	263,505,000	230,816,000	230,816,000	227,873,000	227,873,000	219,789,000	219,789,000	2,789,797,000	2,580,706,000	2,581,927,000	2,580,706,000	2,581,927,000	197,812,000	197,812,000	160,621,000	160,621,000	61,655,000	61,655,000	64,646,000	64,646,000	54,457,000	54,457,000	44,389,000	44,389,000		45,714,000			45,714,000
long-term liabilities
long-term debt	675,242,000	723,534,000	732,194,000	699,563,000	647,276,000	544,543,000	431,491,000	382,874,000	386,222,000	389,564,000	396,003,000	402,440,000	774,972,000	790,270,000	998,052,000	1,017,916,000	1,038,770,000	1,039,900,000	1,458,947,000	1,187,345,000	1,222,971,000	1,240,253,000	1,245,785,000	1,298,371,000	1,318,207,000	1,488,033,000	1,488,033,000	1,527,390,000	2,152,957,000							2,376,004,000	2,430,628,000	2,577,236,000	2,644,138,000	2,716,046,000	2,827,170,000	2,886,006,000	2,927,391,000	2,927,391,000	2,990,617,000	2,990,617,000	3,031,227,000	3,072,276,000	3,072,276,000	3,135,111,000	3,135,111,000	3,171,506,000	3,171,506,000	2,960,288,000	3,065,967,000	3,065,967,000	2,822,192,000	2,822,192,000	2,736,812,000	2,736,812,000	2,630,939,000	2,630,939,000						2,251,716,000	2,251,716,000	2,216,720,000	2,216,720,000	1,986,660,000	1,986,660,000	1,595,706,000	1,595,706,000	1,478,894,000	1,478,894,000	859,733,000	859,733,000	639,418,000	639,556,000	578,557,000		639,556,000
unearned revenue, net of current portion	6,608,000	11,157,000	17,062,000	22,901,000	29,699,000	38,753,000	49,275,000	60,134,000	71,233,000	82,333,000	95,242,000	111,564,000	130,588,000	152,564,000	28,606,000	37,977,000	42,085,000	16,187,000	17,458,000	19,574,000	21,737,000	23,783,000	26,265,000	31,235,000	34,675,000	38,196,000	38,196,000	45,367,000	49,004,000		59,399,000	62,958,000	62,958,000	66,479,000	75,078,000	21,465,000	22,953,000	25,931,000	27,435,000	28,924,000	31,917,000																66,000	66,000	620,000	620,000	1,168,000	1,168,000	2,271,000	2,824,000	3,372,000	2,824,000	3,372,000	4,468,000	4,468,000	5,022,000	5,022,000	6,666,000	6,666,000	7,220,000	7,220,000	7,768,000	7,768,000	8,868,000	8,868,000		10,514,000			10,514,000
other long-term liabilities	34,420,000	43,198,000	33,318,000	27,436,000	29,996,000	38,095,000	34,272,000	33,651,000	31,030,000	37,981,000	46,960,000	52,861,000	28,313,000	13,622,000	8,665,000	3,234,000	4,515,000	6,034,000	81,000	181,000	287,000	393,000	499,000	710,000	8,241,000	8,347,000	8,347,000	16,494,000	1,331,000	54,100,000	1,892,000	2,090,000	2,090,000	2,287,000	2,680,000	14,174,000	13,696,000	14,283,000	13,720,000	14,540,000	23,121,000	34,136,000	49,938,000	49,938,000	99,547,000	99,547,000	124,424,000	157,632,000	157,632,000	245,094,000	245,094,000	265,048,000	265,048,000	299,300,000	283,614,000	283,614,000	333,487,000	333,487,000	293,366,000	293,366,000	262,626,000	262,626,000	408,034,000	350,307,000	251,779,000	350,307,000	251,779,000	264,767,000	264,767,000	214,958,000	214,958,000	112,923,000	112,923,000	57,809,000	57,809,000	179,148,000	179,148,000
total long-term liabilities	716,270,000	777,889,000	782,574,000	749,900,000	706,971,000	621,391,000	515,038,000	476,659,000	488,485,000	509,878,000	538,205,000	611,407,000	985,251,000	1,014,549,000	1,176,732,000	1,219,795,000	1,264,142,000	1,258,113,000	1,706,196,000	1,439,118,000	1,478,836,000	1,511,335,000	1,536,992,000	1,623,725,000	1,669,528,000	1,723,753,000	1,723,753,000	1,800,078,000	2,203,292,000		61,291,000	65,048,000	65,048,000	68,766,000	77,758,000	2,411,643,000	2,467,277,000	2,617,450,000	2,685,293,000	2,770,205,000	2,910,740,000	2,955,815,000	3,027,316,000	3,027,316,000	3,172,464,000	3,172,464,000	3,248,711,000	3,340,902,000	3,340,902,000	3,519,893,000	3,519,893,000	3,587,003,000	3,587,003,000	3,313,876,000	3,443,095,000	3,443,095,000	3,217,271,000	3,217,271,000	3,095,943,000	3,095,943,000	2,894,733,000	2,894,733,000	410,305,000	353,131,000	255,151,000	353,131,000	255,151,000	2,520,951,000	2,520,951,000	2,436,700,000	2,436,700,000	2,106,249,000	2,106,249,000	1,660,735,000	1,660,735,000	1,665,810,000	1,665,810,000	921,151,000	921,151,000		685,624,000			685,624,000
total liabilities	904,146,000	928,607,000	945,126,000	918,854,000	867,378,000	769,139,000	659,860,000	644,819,000	661,566,000	694,950,000	791,085,000	839,814,000	1,273,546,000	1,350,625,000	1,499,253,000	1,539,102,000	1,655,905,000	1,486,937,000	1,896,816,000	1,678,803,000	1,696,309,000	1,750,267,000	1,757,859,000	1,845,928,000	1,892,836,000	1,938,988,000	1,938,988,000	2,039,502,000	2,392,886,000		2,482,649,000	2,529,005,000	2,529,005,000	2,583,831,000	2,742,402,000	2,725,424,000	2,773,957,000	2,958,167,000	3,018,589,000	3,087,772,000	3,244,185,000	3,304,947,000	3,387,202,000	3,387,202,000	3,556,848,000	3,556,848,000	3,625,082,000	3,718,706,000	3,718,706,000	3,833,068,000	3,833,068,000	3,906,123,000	3,906,123,000	3,545,569,000	3,706,600,000	3,706,600,000	3,448,087,000	3,448,087,000	3,323,816,000	3,323,816,000	3,114,522,000	3,114,522,000	3,200,102,000	2,933,837,000	2,837,078,000	2,933,837,000	2,837,078,000	2,718,763,000	2,718,763,000	2,597,321,000	2,597,321,000	2,167,904,000	2,167,904,000	1,725,381,000	1,725,381,000	1,720,267,000	1,720,267,000	965,540,000	965,540,000		731,338,000			731,338,000
commitments and contingencies
stockholders’ equity
preferred stock
common stock	183,000	183,000	186,000	190,000	193,000	193,000	194,000	194,000	195,000	197,000	203,000	203,000	202,000	205,000	207,000	207,000	206,000	206,000	206,000	204,000	248,000	248,000	248,000	154,000	154,000	152,000	152,000	2,133,000	1,098,000	1,098,000	1,098,000	1,098,000	1,098,000	1,098,000	1,098,000	1,098,000	1,098,000	1,098,000	1,098,000	1,098,000	1,097,000	1,097,000	1,097,000	1,097,000	1,097,000	1,097,000	1,097,000	1,096,000	1,096,000	1,096,000	1,096,000	1,096,000	1,096,000	1,096,000	1,096,000	1,096,000	1,090,000	1,090,000	1,090,000	1,090,000	1,086,000	1,086,000	1,086,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	546,000	443,000
additional paid-in capital	603,400,000	601,653,000	619,361,000	650,864,000	688,649,000	688,122,000	687,634,000	690,190,000	695,593,000	712,154,000	745,914,000	748,109,000	742,508,000	759,723,000	770,800,000	770,676,000	761,450,000	760,869,000	760,297,000	755,390,000	786,171,000	785,870,000	785,572,000	730,620,000	729,425,000	728,392,000	728,392,000	724,732,000	546,898,000	546,898,000	546,898,000	546,898,000	546,898,000	546,898,000	546,822,000	546,822,000	546,822,000	546,734,000	546,734,000	546,734,000	546,097,000	546,097,000	546,097,000	546,097,000	546,022,000	546,022,000	546,022,000	546,023,000	546,023,000	545,923,000	545,923,000	545,915,000	545,915,000	545,884,000	545,907,000	545,907,000	543,778,000	543,778,000	543,755,000	543,755,000	543,735,000	543,735,000	488,048,000	288,565,000	288,595,000	288,565,000	288,595,000	288,605,000	288,605,000	288,598,000	288,598,000	288,577,000	288,577,000	288,553,000	288,553,000	288,530,000	288,530,000	288,530,000	288,530,000	288,530,000	288,530,000	288,530,000	288,530,000	288,530,000	90,529,000
accumulated other comprehensive loss	-66,850,000	-68,053,000	-69,247,000	-70,430,000	-72,472,000	-73,647,000	-74,813,000	-75,979,000	-70,941,000	-72,041,000	-73,130,000	-74,209,000	-68,746,000	-69,659,000	-70,562,000	-71,455,000	-71,852,000	-73,851,000	-66,189,000	-86,669,000	-110,180,000	-116,993,000	-124,363,000
retained earnings	3,173,856,000	3,058,770,000	2,943,429,000	2,844,176,000	2,770,070,000	2,662,550,000	2,536,875,000	2,401,912,000	2,267,526,000	2,149,172,000	2,017,250,000	1,886,311,000	1,748,778,000	1,697,209,000	1,704,523,000	1,388,595,000	1,232,896,000	1,025,969,000	663,432,000	366,652,000	323,473,000	280,687,000	242,191,000	179,285,000	145,430,000	115,292,000	115,292,000	262,832,000	135,615,000	129,777,000	91,979,000	69,552,000	69,552,000	49,323,000	477,447,000	485,844,000	441,196,000	390,541,000	348,473,000	310,401,000	331,435,000	309,029,000	292,386,000	292,386,000	288,215,000	288,215,000	279,427,000	259,888,000	259,888,000	362,934,000	362,934,000	369,968,000	369,968,000	351,660,000	361,002,000	361,002,000	342,602,000	342,602,000	343,435,000	343,435,000	343,666,000	343,666,000	347,112,000	346,134,000	360,799,000	346,134,000	360,799,000	456,746,000	456,746,000	440,374,000	440,374,000	406,276,000	406,276,000	403,712,000	403,712,000	396,867,000	396,867,000	371,441,000	371,441,000	369,955,000	272,835,000	349,196,000	272,835,000	272,835,000	242,273,000
total stockholders’ equity	3,710,589,000	3,592,553,000	3,493,729,000	3,424,800,000	3,386,440,000	3,277,218,000	3,149,890,000	3,016,317,000	2,892,373,000	2,789,482,000	2,690,237,000	2,560,414,000	2,422,742,000	2,387,478,000	2,404,968,000	2,088,023,000	1,922,700,000	1,713,193,000	1,357,746,000	1,035,577,000	999,712,000	949,812,000	903,648,000	791,756,000	755,469,000	725,414,000	725,414,000	881,845,000	573,876,000		515,847,000	494,110,000	494,110,000	473,268,000	925,486,000	932,870,000	887,221,000	830,193,000	780,043,000	732,731,000	720,006,000	673,725,000	632,891,000	632,891,000	573,455,000	573,455,000	534,086,000	484,044,000	484,044,000	523,748,000	523,748,000	494,031,000	494,031,000	442,535,000	463,306,000	463,306,000	398,800,000	398,800,000	437,107,000	437,107,000	474,803,000	474,803,000	322,499,000	189,818,000	292,840,000	189,818,000	292,840,000	360,647,000	360,647,000	420,839,000	420,839,000	573,759,000	573,759,000	630,638,000	630,638,000	506,558,000	506,558,000	659,575,000	659,575,000		565,852,000			565,852,000
total liabilities and stockholders’ equity	4,614,735,000	4,521,160,000	4,438,855,000	4,343,654,000	4,253,818,000	4,046,357,000	3,809,750,000	3,661,136,000	3,553,939,000	3,484,432,000	3,481,322,000	3,400,228,000	3,696,288,000	3,738,103,000	3,904,221,000	3,627,125,000	3,578,605,000	3,200,130,000	3,254,562,000	2,714,380,000	2,696,021,000	2,700,079,000	2,661,507,000	2,637,684,000	2,648,305,000	2,664,402,000	2,664,402,000	2,921,347,000	2,966,762,000	2,966,251,000	2,998,496,000	3,023,115,000	3,023,115,000	3,057,099,000	3,667,888,000	3,658,294,000	3,661,178,000	3,788,360,000	3,798,632,000	3,820,503,000	3,964,191,000	3,978,672,000	4,020,093,000	4,020,093,000	4,130,303,000	4,130,303,000	4,159,168,000	4,202,750,000	4,202,750,000	4,356,816,000	4,356,816,000	4,400,154,000	4,400,154,000	3,988,104,000	4,169,906,000	4,169,906,000	3,846,887,000	3,846,887,000	3,760,923,000	3,760,923,000	3,589,325,000	3,589,325,000	3,522,601,000	3,123,655,000	3,129,918,000	3,123,655,000	3,129,918,000	3,079,410,000	3,079,410,000	3,018,160,000	3,018,160,000	2,741,663,000	2,741,663,000	2,356,019,000	2,356,019,000	2,226,825,000	2,226,825,000	1,625,115,000	1,625,115,000	1,446,834,000	1,297,190,000	1,310,697,000	1,297,190,000	1,297,190,000	1,161,254,000
operating revenues	260,730,000				256,176,000		253,449,000		239,215,000		243,574,000		260,037,000		229,901,000		195,915,000		132,118,000		118,932,000		106,196,000
operating expenses
voyage expenses	-13,895,000				-16,999,000		-20,342,000		-8,959,000		-7,883,000		-10,320,000		-7,189,000		-8,055,000		-4,228,000		-3,552,000		-4,046,000
vessel operating expenses	-52,256,000				-49,866,000		-43,114,000		-39,494,000		-40,639,000		-39,186,000		-39,164,000		-34,674,000		-31,078,000		-27,662,000		-26,002,000
depreciation	-41,177,000				-38,726,000												-31,011,000		-25,799,000		-25,765,000		-24,581,000
amortization of deferred drydocking and special survey costs	-10,762,000				-7,485,000		-5,452,000		-4,772,000		-3,835,000		-3,084,000		-2,720,000		-2,573,000		-2,509,000		-3,174,000		-2,310,000
general and administrative expenses	-12,589,000				-10,978,000		-10,244,000		-7,070,000		-6,845,000		-7,157,000		-7,391,000		-7,342,000		-10,895,000		-6,048,000		-5,840,000
gain/(loss) on disposal of vessel
other income/
interest income	3,811,000				3,124,000		2,936,000		3,091,000		2,723,000		1,323,000		1,000		152,000		1,978,000		1,650,000		1,714,000
interest expense and finance costs	-8,541,000
gain/(loss) on investments	8,383,000				-2,808,000								-107,290,000
dividend income	313,000				2,849,000		932,000		901,000				27,013,000		122,178,000
equity loss on investments	-189,000				-1,232,000		-109,000		-526,000		-2,588,000
other finance expenses	-907,000				-944,000		-882,000		-1,236,000		-976,000		-155,000		-605,000		-99,000		-452,000		-330,000		-622,000
other income/(expenses)	-277,000				-746,000		235,000		-1,117,000		175,000		411,000		499,000
loss on derivatives	-913,000				-913,000		-903,000		-913,000		-893,000		-913,000		-893,000		-913,000		-893,000		-913,000		-903,000
loss on debt extinguishment	-1,082,000
total other income/(expenses)	598,000				-8,683,000		10,064,000		-13,439,000		-8,281,000		-95,579,000		203,605,000		104,967,000		239,171,000
income before income taxes	130,649,000								133,156,000		146,201,000		70,570,000		343,683,000
income taxes													-3,770,000		-12,218,000
net income	130,649,000				122,996,000		150,498,000		133,156,000		146,201,000		66,800,000		331,465,000		217,227,000		296,780,000		42,786,000		29,089,000
earnings per share
basic earnings per share of common stock	7,140
diluted earnings per share of common stock	7,110
basic weighted-average number of common shares	18,310,000				19,345,000		19,412,000		19,693,000		20,349,000		20,299,000		20,697,000		20,354,000		20,293,000		24,573,000		24,573,000
diluted weighted-average number of common shares	18,384,000				19,517,000		19,584,000		19,693,000		20,349,000		20,318,000		20,717,000		20,598,000		20,513,000		24,789,000		24,789,000
fixed assets at cost, net of accumulated depreciation of 1,539,705		3,284,665,000
advances for vessels acquisition and vessels under construction		304,686,000	285,485,000		299,458,000	283,260,000	421,887,000		289,149,000
fixed assets at cost, net of accumulated depreciation of 1,499,006			3,319,777,000
f-2
fixed assets at cost, net of accumulated depreciation of 1,458,978				3,290,309,000
investments in affiliates						64,000	161,000	270,000	411,000	937,000	1,675,000							19,238,000	17,076,000	15,273,000	13,694,000	12,230,000	10,510,000	7,871,000	7,311,000	7,279,000	7,279,000	6,910,000	6,182,000	5,972,000	5,666,000	5,388,000	5,388,000	5,239,000	19,688,000	15,500,000	12,036,000	6,358,000
fixed assets at cost, net of accumulated depreciation of 1,418,603					3,215,293,000
net gain on disposal/sale of vessels					-443,000
income from operations					131,679,000		140,434,000		146,595,000		154,482,000		166,149,000		140,078,000		112,260,000		57,609,000		52,731,000		43,417,000
other income																	338,000		3,971,000				251,000
interest expense					-8,013,000		-3,124,000		-4,306,000		-6,722,000		-15,968,000		-17,114,000		-18,093,000		-15,111,000		-11,907,000		-16,313,000
basic earnings per share					6,360		7,750		6,760		7,180		3,290		16,020		10,670		14,620		1,740		1,180
diluted earnings per share					6,300		7,680		6,760		7,180		3,290		16,000		10,550		14,470		1,730		1,170
fixed assets at cost, net of accumulated depreciation of 1,379,877						3,028,236,000
fixed assets at cost, net of accumulated depreciation of 1,344,501							2,711,984,000
depreciation and amortization of right-of-use assets							-33,863,000		-32,325,000		-31,529,000		-34,141,000		-33,359,000
gain on sale of vessels											1,639,000
gain on investments							10,979,000								99,539,000		59,519,000
fixed assets at cost, net of accumulated depreciation of 1,311,689								2,746,541,000
current portion of long-term leaseback obligation											65,594,000	27,469,000	27,077,000	46,285,000	86,116,000	85,815,000	85,502,000	63,316,000	24,862,000	24,515,000	24,166,000	23,822,000	16,804,000	15,202,000	14,097,000
long-term leaseback obligation, net of current portion												44,542,000	51,378,000	58,093,000	120,454,000	136,513,000	152,661,000	168,542,000	89,673,000	95,585,000	101,522,000	107,353,000	117,534,000	126,172,000	130,340,000
fixed assets at cost, net of accumulated depreciation of 1,278,166									2,652,958,000
loss on investments									-9,333,000
gain/(loss) on debt extinguishment
fixed assets at cost, net of accumulated depreciation of 1,245,841										2,661,976,000

fixed assets at cost, net of accumulated depreciation of 1,213,931											2,691,699,000
restricted cash													13,000,000	13,000,000	13,347,000	346,000	349,000		294,404,000										2,812,000			2,812,000	2,812,000		695,000	5,880,000	7,000		2,824,000	9,000	441,000	3,250,000	454,000	454,000	28,000	28,000	2,815,000	9,000	9,000	8,000	8,000	2,820,000	2,820,000	2,909,000	97,000	97,000	96,000	96,000	2,909,000	2,909,000	95,000	95,000										323,021,000	323,021,000	45,462,000	45,462,000	41,207,000	41,207,000	34,303,000	34,303,000	41,696,000	2,493,000	22,000	2,493,000	2,493,000	18,765,000
fixed assets at cost, net of accumulated depreciation of 1,182,402												2,721,494,000
right-of-use assets, net of accumulated amortization of nil
accumulated accrued interest, current portion															7,911,000	6,146,000	5,661,000	5,854,000	7,169,000	18,036,000	29,679,000	30,415,000	32,870,000	34,610,000	35,351,000	35,543,000	35,543,000	35,815,000
accumulated accrued interest, net of current portion															20,955,000	24,155,000	26,111,000	27,450,000	140,037,000	136,433,000	132,319,000	139,553,000	146,909,000	167,237,000	178,065,000	189,177,000	189,177,000	210,827,000
fixed assets at cost, net of accumulated depreciation of 1,160,129													2,843,415,000
right-of-use assets, net of accumulated amortization of
gain on debt extinguishment
equity income on investments																	64,063,000		1,803,000		1,464,000
fixed assets at cost, net of accumulated depreciation of 1,119,847														2,800,286,000
right-of-use assets, net of accumulated amortization of 6,142														76,580,000
fixed assets at cost, net of accumulated depreciation of 1,087,633															2,831,796,000
right-of-use assets, net of accumulated amortization of 4,603															77,981,000
fixed assets at cost, net of accumulated depreciation of 1,055,792																2,861,651,000
right-of-use assets, net of accumulated amortization of 3,085																79,442,000
fixed assets at cost, net of accumulated depreciation of 1,023,335																	2,837,905,000
right-of-use assets, net of accumulated amortization of 1,534																	80,984,000
due to related parties																	86,700,000																																			28,869,000	28,869,000		14,415,000	14,415,000
fixed assets at cost, net of accumulated depreciation of 993,858																		2,429,647,000
fixed assets at cost, net of accumulated depreciation of 967,759																			2,455,171,000
change in fair value of investments																			247,875,000
fixed assets at cost, net of accumulated depreciation of 941,960																				2,479,937,000
fixed assets at cost, net of accumulated depreciation of 916,033																					2,441,815,000
other income/(loss)																					91,000
total other incomes																					-9,945,000		-14,328,000
fixed assets at cost, net of accumulated depreciation of 890,269																						2,466,556,000
fixed assets at cost, net of accumulated depreciation of 865,010																							2,413,730,000
equity income/(loss) on investments																							1,545,000
fixed assets at cost, net of accumulated depreciation of 816,065																								2,412,274,000
fixed assets at cost, net of accumulated depreciation of 791,729																									2,433,731,000
fixed assets at cost, net of accumulated depreciation of 767,690																										2,456,891,000	2,456,891,000
fixed assets at cost, net of accumulated depreciation of 843,942																												2,717,302,000
fixed assets at cost, net of accumulated depreciation of 816,947																													2,743,897,000
fixed assets																														2,769,627,000								3,526,514,000	3,559,535,000	3,592,011,000	3,696,753,000	3,730,498,000	3,800,199,000	3,800,199,000	3,865,063,000	3,865,063,000	3,906,431,000	3,928,668,000	3,928,668,000	4,154,236,000	4,154,236,000	4,192,651,000	4,192,651,000	3,241,951,000	3,688,152,000	3,688,152,000	3,026,697,000	3,026,697,000	2,811,030,000	2,811,030,000	2,465,752,000	2,465,752,000	2,236,840,000	1,898,468,000	1,653,277,000	1,898,468,000	1,653,277,000	1,589,999,000	1,589,999,000	1,507,689,000	1,507,689,000	1,293,419,000	1,293,419,000	1,180,961,000	1,180,961,000	1,198,387,000	1,198,387,000	1,027,200,000	1,027,200,000		1,016,608,000			1,016,608,000
long-term debt, current portion																														2,291,351,000																																						65,846,000	65,846,000	52,219,000	52,219,000	32,219,000	32,219,000	32,219,000	32,219,000	25,619,000	25,619,000	25,619,000	25,619,000	25,619,000	22,760,000	25,619,000		22,760,000
accounts payable, accrued liabilities & other current liabilities																														54,740,000																																																		19,245,000			21,488,000		39,558,000
fixed assets at cost, net of accumulated depreciation of 735,229																															2,823,716,000
fixed assets at cost, net of accumulated depreciation of 706,008																																2,851,721,000	2,851,721,000
fixed assets at cost, net of accumulated depreciation of 676,813																																		2,880,385,000
liabilities and stockholders’ equity current liabilities
vessels held for sale
fixed assets at cost, net of accumulated depreciation of 787,379																																			3,354,691,000
fixed assets at cost, net of accumulated depreciation of 754,916																																				3,384,191,000
fixed assets at cost, net of accumulated depreciation of 722,841																																					3,414,653,000
current portion of vendor financing																																						28,532,000	35,673,000	39,292,000	50,149,000	57,388,000	57,388,000	57,388,000	57,388,000	57,388,000	57,388,000	57,388,000	57,388,000	46,693,000	46,693,000	39,551,000	39,551,000	10,857,000	21,618,000	21,618,000	3,619,000	3,619,000
vendor financing, net of current portion																																								10,695,000	28,532,000	35,673,000	49,987,000	49,987,000	82,300,000	82,300,000	93,060,000	110,994,000	110,994,000	139,688,000	139,688,000	150,449,000	150,449,000	54,288,000	93,514,000	93,514,000	61,526,000	61,526,000
restricted cash, net of current portion																																									36,951,000	55,151,000	11,027,000	11,027,000																								67,041,000	67,041,000	98,627,000	98,627,000
vessel held for sale																																													7,731,000	7,731,000		7,884,000	7,884,000						4,805,000	4,805,000
treasury stock
vendor financing																																																											65,145,000	65,145,000
restricted cash, current portion																																																															13,715,000	24,094,000	195,659,000	24,094,000	195,659,000	144,877,000	144,877,000	130,995,000	130,995,000
unearned revenue, current portion																																																																				5,797,000	5,797,000	6,847,000	6,847,000	7,381,000	7,381,000	7,165,000	7,165,000	7,214,000	7,214,000
assets held for sale																																																																								5,967,000	5,967,000
advances for vessel acquisitions																																																																														12,375,000	12,375,000		12,350,000			12,350,000
other assets																																																																														1,154,000	1,154,000	358,000	6,117,000	357,000	285,000	6,117,000
other liabilities																																																																														52,550,000	52,550,000	57,107,000	35,554,000	39,793,000	40,293,000	35,554,000	39,526,000
other comprehensive income																																																																																38,897,000	3,941,000	5,174,000	3,941,000	3,941,000
current assets - sum																																																																																117,923,000		57,204,000
vessels																																																																																916,067,000		979,989,000	1,016,608,000		800,628,000
advances for vessel acquisitions and vessels under construction																																																																																361,059,000		256,771,000	205,366,000		279,759,000
fair value of financial instruments																																																																																40,294,000		6,865,000	5,832,000
non-current assets - sum																																																																																1,328,911,000		1,253,493,000
fair value of financial instruments, current portion																																																																																1,324,000		1,438,000	1,466,000
current liabilities - sum																																																																																46,188,000		43,607,000
fair value of financial instruments, net of current portion																																																																																6,193,000		5,294,000	5,775,000
long-term liabilities - sum																																																																																702,718,000		623,644,000
stockholders’ equity - sum																																																																																697,928,000		643,446,000	565,852,000
net investment in finance lease, current portion
accounts receivable in respect of lease agreements, net of current portion
accounts payable, accrued liabilitiies & other current liabilities																																																																																		16,550,000
current assets:
current assets: - sum																																																																																			59,700,000		68,750,000
non-current assets:
non-current assets: - sum																																																																																			1,237,490,000		1,092,504,000
current liabilities:
long term debt, current portion																																																																																			22,760,000		161,194,000
current liabilities: - sum																																																																																			45,714,000		200,752,000
long-term liabilities:
long term debt																																																																																			639,556,000		579,872,000
long-term liabilities: - sum																																																																																			685,624,000		627,350,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-09-30	2025-03-31	2024-12-31	2024-09-30	2024-05-28	2023-12-31	2023-09-30	2023-05-16	2022-12-31	2022-09-30	2022-05-17	2021-12-31	2021-09-30	2021-05-10	2020-12-31	2020-03-31	2019-09-30	2019-06-30	2019-05-14	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-09-30	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2014-06-30	2014-05-06	2014-03-31	2013-09-30	2013-07-29	2013-04-30	2013-03-31	2012-09-30	2012-05-11	2012-03-31	2011-09-30	2011-06-30	2011-05-10	2011-03-31	2010-11-16	2010-09-30	2010-07-31	2010-06-30	2010-03-31	2009-09-30	2008-09-30	2008-08-05	2008-04-30	2007-11-01	2007-04-30	2006-12-31

cash flows from operating activities
net income	130,649,000	115,147,000	90,427,000	122,996,000	150,498,000	149,921,000	133,156,000	146,201,000	152,721,000	66,800,000	331,465,000	165,997,000	217,227,000	296,780,000	43,179,000	29,089,000	33,855,000	30,138,000	33,443,000	33,443,000						42,068,000	38,072,000	30,342,000	22,406,000	16,643,000	8,407,000	8,407,000	41,726,029,000	19,539,000	13,432,000	13,432,000,000	11,255,692,000	9,342,000				5,443,000		978,000	-14,665,000	-79,765,000					32,215,000	31,522,000
adjustments to reconcile net income to net cash from operating activities
depreciation				38,726,000									31,011,000	25,799,000	25,927,000	24,581,000	24,336,000	24,039,000	23,766,000	23,766,000						33,217,000	32,853,000	32,488,000	34,396,000	34,132,000	33,943,000	33,943,000	102,730,853,000	34,164,000	33,983,000	33,983,000,000	105,357,093,000	31,681,000		76,531,559,000	48,418,564,000	22,436,000	22,436,000,000	20,989,000	17,744,000	16,061,000	33,788,939	16,061			12,366,000	11,759,000	19,699,000	10,169,000	23,302,000
amortization of deferred drydocking and special survey costs		10,970,000	9,252,000		5,452,000	5,554,000		3,835,000	3,164,000		2,720,000	2,554,000		2,509,000		2,310,000			2,191,000												1,002,000			1,449,000	1,730,000			1,202,000				1,530,000		2,741,000	1,711,000	1,740,000					1,757,000	1,610,000
amortization of assumed time charters			0	0	-3,498,000	-4,416,000	-4,416,000	-6,536,000	-10,443,000	-13,892,000	-16,651,000	-18,296,000
amortization of finance costs		758,000	757,000		497,000	466,000		693,000	1,604,000		2,543,000	2,638,000		3,297,000		2,520,000			3,150,000							3,461,000	3,512,000	3,688,000		3,756,000	3,808,000	3,808,000	11,610,246,000	3,854,000	3,900,000	3,900,000,000							1,279,000,000								34,000	33,000
loss on debt extinguishment						0
gain on investments	-8,383,000	-2,483,000			-10,979,000						-99,539,000	-52,249,000	-47,239,000
payments for drydocking and special survey costs deferred		-15,789,000	-21,878,000		-4,169,000	-9,568,000		-9,742,000	-13,780,000		-9,255,000	-3,028,000		-907,000		-4,850,000
gain on disposal of vessel
equity loss on investments		232,000	191,000		109,000	141,000		2,588,000											84,000
prior service cost and periodic cost		1,085,000	-422,000		257,000	507,000		492,000
stock based compensation	-2,998,000	1,705,000	9,811,000		1,576,000				5,599,000	125,000	124,000	9,223,000	576,000	4,909,000	302,000	298,000	1,195,000	1,035,000	830,000	830,000																	38,969,000	23,000		69,953,000	46,977,000	23,000	23,000,000	25,000	8,000	27,000
amortization of deferred realized losses on interest rate swaps		893,000	913,000		903,000	913,000		893,000	913,000		893,000	913,000		893,000		903,000			893,000												990,000			1,002,000	990,000
decrease in:
accounts receivable		172,000	1,176,000		-3,452,000	-2,580,000		-1,939,000	-503,000		-15,000	-93,000		213,000		-776,000			1,782,000												694,000											612,000									690,000	1,354,000	-277,000
inventories		-3,172,000	-188,000		4,308,000	-7,680,000		407,000	-239,000		193,000	-542,000		347,000		-213,000															218,000			-100,000	2,426,000
prepaid expenses		-2,651,000	-327,000		-426,000	-507,000		-160,000	1,087,000		106,000	-986,000		-311,000		520,000																			195,000			684,000				799,000		-66,000								203,000
due from related parties		-3,026,000	-5,450,000		1,946,000	-9,703,000		2,083,000	-2,390,000		-851,000	1,687,000		-806,000		-1,551,000															772,000											387,000		-1,580,000	1,558,000	368,000
other assets, current and non-current		2,465,000	2,959,000		6,059,000	10,682,000		-11,124,000	-12,179,000		-132,865,000	-24,088,000		1,772,000		-645,000
increase in:
accounts payable		3,114,000	4,219,000		-752,000	3,875,000		-1,035,000	6,029,000		2,793,000	1,624,000		1,551,000		1,877,000															6,855,000							3,320,000				732,000									-1,212,000	2,764,000
accrued liabilities		-5,669,000	6,988,000		-5,476,000	3,776,000		-4,050,000	488,000		2,848,000	7,390,000		1,727,000		3,466,000			977,000												2,119,000			-2,360,000	2,600,000			2,178,000						2,238,000							5,546,000	147,000
unearned revenue, current and long-term		-8,419,000	-15,787,000		-16,342,000	-19,331,000		-21,257,000	-31,739,000		-6,069,000	4,257,000		-2,105,000		-2,932,000
other liabilities, current and long-term		-1,500,000	-270,000		-7,082,000	-1,311,000		-3,645,000	22,415,000		6,837,000	117,000		-105,000		-104,000															867,000			898,000	889,000			326,000				46,000		185,000	-2,190,000	2,552,000
net cash from operating activities	168,623,000	133,860,000	156,639,000	157,544,000	153,292,000	146,180,000	149,506,000	127,594,000	145,497,000	168,766,000	119,464,000	131,971,000	103,397,000	88,258,000	79,647,000	55,427,000	56,189,000	52,454,000	59,002,000	59,002,000	151,463,613,000	43,016,000	35,308,000	36,063,000	45,775,000	77,547,000	64,960,000	59,660,000	59,449,000			39,296,000						65,819,000						29,779,000	19,290,000	15,772,000	35,046,228	15,772	-59,549,151	29,845,000	35,308,000	36,063,000
capital expenditures	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0			0						0						0	0	0	0	0	0	0	0	0
free cash flows	168,623,000	133,860,000	156,639,000	157,544,000	153,292,000	146,180,000	149,506,000	127,594,000	145,497,000	168,766,000	119,464,000	131,971,000	103,397,000	88,258,000	79,647,000	55,427,000	56,189,000	52,454,000	59,002,000	59,002,000	151,463,613,000	43,016,000	35,308,000	36,063,000	45,775,000	77,547,000	64,960,000	59,660,000	59,449,000			39,296,000						65,819,000						29,779,000	19,290,000	15,772,000	35,046,228	15,772	-59,549,151	29,845,000	35,308,000	36,063,000
cash flows from investing activities
vessels additions and advances for vessels under construction		-85,690,000							-104,001,000
net proceeds and insurance proceeds from disposal of vessel		1,681,000
investments in affiliates/marketable securities			-417,000			0
net cash from investing activities	-92,289,000	-84,009,000	-78,552,000	-241,021,000	-123,411,000	-139,977,000		-6,085,000	12,068,000		10,957,000	-39,335,000	-247,879,000	1,156,000	-64,512,000	-42,321,000	-4,124,000			-1,667,000									-651,000			9,019,000		-3,751,000	15,869,000
cash flows from financing activities
proceeds from long-term debt		44,000,000	63,000,000		55,000,000				55,001,000			0		294,386,000																								117,320,000				98,238,000		170,430,000	167,529,000	57,860,000					130,440,000	185,013,000
payments of long-term debt		-8,805,000	-7,930,000		-6,875,000	-6,875,000		-6,875,000	-491,928,000		-24,300,000	-24,300,000		-71,849,000		-32,637,000
dividends paid		-15,890,000	-16,320,000		-15,535,000	-15,533,000		-15,262,000	-15,185,000		-15,535,000	-10,294,000
repurchase of common stock		-33,774,000	-47,617,000		-4,129,000	-18,276,000		-581,000	0
finance costs		-8,223,000	-172,000		-5,825,000	0		-250,000	-448,000		-3,950,000	-3,950,000		-4,488,000		-10,415,000
net cash from financing activities		-22,692,000	-9,039,000		22,636,000	-40,684,000	-38,273,000	-29,597,000	-459,240,000	-82,214,000	-61,513,000	-56,437,000	-56,379,000	207,431,000	-55,840,000	-55,257,000	-48,045,000			-53,301,000						-47,939,000																		366,767,000	162,294,000	40,730,000			-183,135,669		96,824,000	123,220,000
net increase in cash and cash equivalents		27,159,000	69,048,000		52,517,000																													-6,770,000	26,176,000														-35,996,347		37,948,000	220,000
cash and cash equivalents at beginning of period		453,384,000			271,809,000											139,170,000															68,153,000			0	55,628,000			51,362,000				229,835,000		0	0	122,050,000
cash and cash equivalents at end of period		480,543,000			324,326,000											97,019,000															59,026,000			-6,770,000	81,804,000			41,732,000				131,850,000		206,026,000	-22,071,000	104,685,000
supplemental cash flow information:
cash paid for interest, net of amounts capitalized
net cash (used in)/provided by financing activities
amortization of deferred drydocking & special survey costs																	2,271,000			2,191,000						868,000	882,000	1,174,000	1,069,000			1,002,000				1,730,000,000							1,530,000,000				3,449,260	1,740
amortization of deferred realized losses of cash flow interest rate swaps																	913,000			893,000						1,012,000	1,001,000	991,000	1,012,000			990,000				990,000,000
amortization of finance costs and commitment fees
interest income																																				-492,000,000							-353,000,000
interest expense																	14,317,000			12,885,000						17,604,000	17,718,000	18,198,000	19,692,000			20,999,000				22,864,000,000							11,848,000,000				18,540,224	8,776
ebitda																	78,133,000			76,708,000						98,273,000	94,097,000	86,974,000	82,461,000			70,072,000				77,348,000,000							42,524,000,000				-39,042,563	-53,437
adjusted ebitda																	79,328,000			77,538,000						106,772,000	103,132,000	102,722,000	104,144,000			96,381,000				108,584,000,000							65,178,000,000				75,190,394	38,606
depreciation and amortization of right-of-use assets		40,028,000			33,863,000	33,523,000	32,325,000	31,529,000	33,018,000	34,141,000	33,359,000
net gain on disposal of vessel
decrease in
increase in
supplemental information: cash paid for interest, net of amounts capitalized		15,250,000			8,157,000			11,534,000
debt discount amortization									523,000		828,000	845,000		1,597,000		1,534,000			1,809,000
loss on investments			35,574,000			-20,762,000			0
net gain on disposal/sale of vessels			-1,681,000	443,000
net proceeds and insurance proceeds from disposal/sale of vessels			0
proceeds from sale of investments
payments of leaseback obligation						0		-6,629,000	-6,680,000		-16,293,000	-16,422,000		-5,916,000		-3,876,000
payments of accumulated accrued interest									0		-1,435,000	-1,471,000		-4,702,000		-8,329,000
cash and cash equivalents, beginning of year
cash and cash equivalents, end of year
supplemental cash flow information
vessels additions and advances					-124,127,000			-5,736,000			-2,043,000			-1,236,000		-42,246,000
net cash provided by/(used in) financing activities
interest expense excluding amortization of finance costs
gain/(loss) on investments
exit fee accrued on debt												0		134,000		138,000			167,000												938,000				941,000			443,000
gain on sale of vessels						0	0	-1,639,000
pik interest												0		642,000		807,000			840,000
proceeds and advances received from sale of vessels
acquired cash and cash equivalents
proceeds from sale-leaseback of vessels												0
net increase in cash, cash equivalents and restricted cash						-34,481,000		91,912,000	-301,675,000		68,908,000	36,199,000		296,845,000					4,034,000
cash, cash equivalents and restricted cash, beginning of year
cash, cash equivalents and restricted cash, end of year
proceeds/advances for sale of vessels					716,000			3,914,000
investments in affiliates								-4,263,000
amortization of finance costs, debt discount and commitment fees
proceeds/advances from sale of vessels
cash, cash equivalents and restricted cash at beginning of period								267,668,000			129,756,000			65,663,000					77,275,000
cash, cash equivalents and restricted cash at end of period								359,580,000			198,664,000			362,508,000					81,309,000
net cash provided by/(used in) investing activities
income taxes
loss on investments and dividend withholding taxes
loss/(gain) on debt extinguishment

equity income on investments												0	-60,098,000	-1,803,000
gain on debt extinguishment									18,588,000	0		0	0
investments									0			50,473,000		2,392,000		-75,000
gain on investments and dividend withholding taxes
advances for sale of vessels											13,000,000
supplemental cash flow information: cash paid for interest, net of amounts capitalized
amortization of finance costs, debt discount and other finance fees accrued
(gain)/loss on investments and dividend withholding taxes
vessels additions and assets acquisitions
advances for vessels additions
paid-in capital
share issuance costs
supplemental cash flow information: cash paid for interest
amortization of finance costs and debt discount																	3,898,000			4,959,000
finance costs accrued																	129,000			167,000						902,000	909,000	933,000	937,000			938,000				941,000,000					741,659,000	341,000	341,000,000
adjustments to reconcile net income to net cash from operating activities:
cash and restricted cash acquired from gemini
non-cash investing activity - due to related parties
adjustments to reconcile net income to net cash provided by operating activities
impairment losses
net cash provided by operating activities																															39,296,000				48,673,000
vessels additions
advances for vessels acquisition
net cash used in investing activities
net cash used in financing activities
cash paid for interest																																																				20,429,000		11,232,000	19,033,000
change in fair value of investments														-247,875,000
equity (income)/loss on investments																-1,545,000
(increase)/decrease in
increase/(decrease) in
net increase/(decrease) in cash and cash equivalents																-42,151,000
refinancing professional fees
net cash from/(used in) investing activities
net cash provided by/(used in) financing activities*																					183,478,363,000	-102,407,000	96,824,000	123,220,000
lender
hsh nordbank
kexim
kexim-fortis
aegean baltic bank-hsh nordbank
the royal bank of scotland																							-87,000	153,100
net cash (used in)/provided by investing activities
loss on sale of securities
loss on sale of vessels																																			15,000	15,000,000
unrealized gains on derivatives
net proceeds from sale of securities
net proceeds from sale of vessels																															9,771,000			13,025,000	16,850,000
increase in restricted cash
realized loss on derivatives																										11,147,000	13,544,000	20,142,000	30,816,000			32,486,000				35,625,000,000							28,109,000,000
unrealized gain on derivatives																										2,648,000	4,509,000	4,394,000	9,133,000			5,684,000				-4,404,000,000
(gain)/loss on sale of vessels
net increase/(decrease) in current and non-current assets																										1,512,000						11,182,000															4,663,021	2,979
net (increase)/decrease in current and non-current liabilities																										723,000
net interest																										16,745,000	16,868,000	17,358,000	18,831,000			20,984,000															18,069,473	8,527
payments for dry-docking and special survey costs deferred																										90,000	828,000	389,000	266,000			2,039,000
gain on sale of vessel																													0			493,000															1,914,084	1,916
(gain)/loss on sale of vessel
net increase in current and non-current assets																												1,061,000
net decrease/(increase) in current and non-current liabilities																												4,112,000
amortization of finance costs and write-off of finance costs
payments for drydocking/special survey costs deferred																																			245,000
other assets, current and long-term																																																			2,995,000	1,340,000
unearned revenue, current and long term																																						3,137,000
net cash provided by investing activities																															9,019,000
payments of vendor financing
decrease of restricted cash																															3,236,000							2,812,000				2,812,000		10,379,000	171,565,000	2,812,000					-4,255,000	4,972,000
exit fees accrued on debt
unrealized loss on derivatives
realized losses on cash flow hedges deferred in other comprehensive loss
vessels additions, vessel acquisitions and vessels under construction
net proceeds from sale of vessels and deposits received in advance from vessels sale
deferred finance costs
increase of restricted cash
supplementary cash flow information
final installments for delivered vessels financed under vendor financing arrangement
unrealized gain/(loss) on swaps
total realized losses of swaps																																				-36,600,000			-39,600,000				-38,000,000
realized losses of swaps deferred in other comprehensive loss																																							4,800,000				9,900,000
realized losses of swaps expensed in statement of income																																				-36,600,000			-34,800,000				-28,100,000
unrealized and realized loss on derivatives																																				-32,200,000			-32,500,000
due from/(to) related parties																																			2,527,000
vessels under construction and vessels additions
non-cash capitalized interest on vessels under construction																																						964,000																	4,174,000
non-cash other predelivery expenses on vessels under construction																																						1,278,000
unrealized gain on swaps																																				4,400,000			2,300,000
amortization of finance and other costs																																						3,218,000				1,279,000		342,000	340,000	320,000
payments for drydocking/special survey
change in fair value of warrants
net proceeds from sale of vessel
net cash provided by financing activities																																						108,425,000				38,866,000
net decrease in cash and cash equivalents
non-cash deferred financing fees
final installment for delivered vessels financed under vendor financing arrangement
comprehensive financing plan related fees																																											2,089,000,000
non-cash changes in fair value of warrants																																											2,253,000,000
due to related parties																																						23,543,000
unrealized (gain)/loss on derivatives
cash flows from operating activities:
impairment loss																																												0	0	71,509,000		71,509
write off of finance and other costs
cash flows from investing activities:
net proceeds from sale of vessels and deposits received from vessel sale
cash flows from financing activities:
payments on long-term debt
proceeds from equity issuance
treasury stock purchased
deferred public offering costs
decrease in restricted cash																																																						2,471,000
cash paid for interest, net of capitalized interest
final progress payments for delivered vessels financed under vendor financing arrangement																																						49,987,000
progress payments of vessels under construction accrued																																												39,550,000	-1,350,000	35,250,000
amortization of deferred realized losses on cash flow hedges																																						649,000
vessel
hn s-458																																							13,100,000,000
hn s-459																																							13,100,000,000
hn s-460																																							13,100,000,000
total																																							39,300,000,000
write-off of finance costs
exit fee accrual
realized losses on derivatives deferred in other comprehensive loss
treasury stock
non-cash capitalized interest in vessels under construction																																										791,000		739,000	2,980,000	4,417,000
non-cash other predelivery expenses in vessels under construction																																										1,363,000
deferred financing fees accrued																																										56,456,000
progress payments of vessels under construction financed by vendor																																										21,715,000
net income/																																											5,443,000,000
amortization of deferred realized losses on cash flow interest rate swaps
gain on contract termination
increase in fair value of derivative instruments
vessels under construction
non-cash changes in fair value of derivatives																																											-9,820,000,000				44,709,550	22,450
payments for dry-docking/special survey																																															257,742	258
change in fair value of derivative instruments																																												4,377,000	12,208,000	10,713,000
increase in fair value of warrants																																										2,253,000
gain/(loss) of non-cash changes in fair value of swaps																																											9,800,000
loss on fair value of derivatives																																											-18,300,000
write off of finance costs
unearned revenue
vessel additions
proceeds from sale of vessels																																												0	0	1,764,000					14,646,000	54,457,000	205,968,000	161,487,000
written-off finance costs
vessel acquisitions and additions including advances for vessel acquisitions
net (loss)/income																																															-94,350,235	-79,765
written off finance costs
written off amount of drydocking and special survey
written off amount of finance and other costs
decrease in vessels’ values in respect of lease arrangements																																																			0	16,944,000
vessel acquisitions including advances for vessel acquisitions
written off amount of finance costs
written off amount of self registration related expenses
written off amount of drydocking/special survey																																																				181,000
cash and cash equivalents, beginning of period																																																				63,495,000	7,569,000	43,075,000
cash and cash equivalents, end of period																																																				63,715,000	19,107,000	35,506,000
net investment in finance lease
other assets, short and long-term
other liabilities, short and long term
proceeds from related party loans
payments of related party loans
non-cash lease liability related to vessel acquisition
cash flows from:
operating activities:
net earnings																																																						100,366,000
adjustments to reconcile net earnings to cash from operating activities:
amortization of deferred charges																																																						1,547,000
written off amount of deferred charges																																																						284,000
payments for drydocking / special survey
change in fair value of debt and financial instruments																																																						2,409,000
other assets short and long term
accounts payable and accrued liabilities
other liabilities short and long term
cash provided by operating activities
investing activities:
vessel acquisitions including advances
cash from investing activities																																																						48,156,000
financing activities:
debt draw downs																																																						121,500,000
debt repayment
dividends on common shares
deferred costs
cash used in financing activities
net change in cash and cash equivalents
written off amount of drydocking / special survey
payments for drydocking /special survey
change in fair value of hedged debt
accounts receivable ,short and long-term
contributions/(distributions) from/(to) stockholders
net cashfrom financing activities
cash flows from/
adjustments to reconcile net earnings to cash from
payments for dry-docking /special survey
cash from operating activities																																																						27,167,000
contributions
cash from financing activities
non-cash value on vessel acquisition																																																						14,416,000
cash from:
change in fair value of financial instruments
other assets short and long-term
other liabilities short and long- term
cash and cash equivalents, at beginning
non-cash lease liability rel/d to vessel acq.
items not involving cash:
other comprehensive income
other non-cash items
change in non-cash working capital:
other current assets
other current liabilities
cash used in investing activities
decrease (increase) in restricted cash
cash provided by:

Danaos Corporation(NYSE:DAC)

Danaos Corporation
(NYSE:DAC)