7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 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 2019-12-31 2019-09-30 
      
    		                         
      cash flows from operating activities:
    		                         
      net income
    		70,546,000 61,646,000 49,565,000 35,823,000 91,688,000 144,723,000 144,490,000  97,937,000      -13,001,000        33,019,000 15,891,000 -11,095,000 
      items included in net income not affecting cash flows:
    		                         
      depreciation and amortization
    		41,170,000 41,349,000 39,705,000 39,466,000 39,304,000 36,517,000 34,153,000 33,682,000 33,363,000 32,445,000 29,548,000 28,404,000 27,728,000 27,256,000 27,000,000 27,035,000 25,806,000 33,816,246 16,754 74,286,839 19,014 -18,229,853 18,267,000 18,945,000 18,961,000 
      amortization of debt discount and other deferred financing costs
    		1,014,000 983,000 983,000 1,017,000 1,034,000 1,021,000 1,038,000 1,132,000 1,363,000 1,572,000 1,556,000 1,594,000 1,675,000 1,100,000 855,000 704,000 532,000 1,076,460 540 2,895,662 630 -981,292 983,000 1,547,000 1,813,000 
      stock compensation
    		2,020,000 1,844,000 1,946,000 3,264,000 2,103,000 1,942,000 1,691,000 2,606,000 2,039,000 1,973,000 1,900,000 2,299,000 1,719,000 1,620,000 1,108,000 1,635,000 6,631,000 2,261,963 1,037       
      other – net
    		-240,000 -250,000 456,000 207,000 -86,000 -183,000 -250,000 -422,000 -580,000 -737,000 -823,000 -1,468,000 -447,000 -907,000 580,000 1,785,000 353,000 830,575 425 1,746,096 392 -292,488 293,000 923,000 311,000 
      items included in net income related to investing and financing activities:
    		                         
      gain on disposal of vessels and other assets
    		-13,658,000 -11,229,000 -10,021,000 45,000 -13,499,000 -27,852,000 -51,000 -25,286,000 74,000 26,000 -10,748,000 -10,308,000              
      payments for drydocking
    		-19,730,000 -26,551,000 -16,900,000 -14,787,000 -19,430,000 -14,454,000 -9,971,000 -6,917,000 -8,630,000 -6,014,000 -12,978,000 -7,047,000 -10,491,000 -8,219,000 -17,570,000 -18,600,000 -9,096,000 -14,711,406 -8,594 -25,626,175 -3,312 7,552,487 -7,565,000 -6,007,000 -2,661,000 
      insurance claims proceeds related to vessel operations
    		1,043,000 559,000 312,000 69,000 116,000 682,000 206,000 298,000 160,000 1,748,000 950,000 756,000 2,510,000 1,081,000 954,000 662,000 474,000 709,472 528 5,233,294 4,136 -238,430 239,000 1,212,000 327,000 
      changes in operating assets and liabilities:
    		                         
      decrease in receivables
    		-4,807,000 10,142,000 25,169,000  31,986,000 19,876,000 4,210,000                   
      decrease in deferred revenue
    		-202,000 1,271,000 -7,618,000   979,000 -5,068,000   118,000 -260,000       -2,992,005 -2,995     0 -10,000 
      purchase of insurance contract in connection with settlement of pension plan obligations
    		   0                      
      net change in inventories, prepaid expenses and other current assets, accounts
    		                         
      payable, accrued expenses and other current and long-term liabilities
    		1,169,000 6,015,000 -13,650,000  794,000 4,688,000 -14,006,000  -2,131,000 1,245,000 -2,888,000  1,815,000 7,637,000 -2,088,000  -7,975,000 -1,231,342 -10,658  -4,807 -762,710 766,000  -2,240,000 
      net cash from operating activities
    		78,325,000 85,779,000 69,947,000 93,622,000 129,135,000 167,939,000 156,442,000  148,463,000      -19,781,000      71,101 -38,190,310 38,318,000  -422,000 
      cash flows from investing activities:
    		                         
      expenditures for vessels, vessel improvements and vessels under construction
    		-87,668,000 -17,905,000 -82,973,000  -13,714,000   -12,941,000 -4,150,000 -121,346,000 -66,722,000               
      security deposits returned for vessel exchange transactions
    		0 0 5,000,000                       
      proceeds from disposal of vessels and other property
    		66,736,000 27,903,000 115,264,000  23,872,000    -34,000 49,000 20,021,000  -138,000 55,357,000 24,257,000  110,079,000 3,431,011 -11 73,107,436 -14 -13,587,422 13,601,000 5,000 6,672,000 
      expenditures for other property
    		-74,000 -177,000 -376,000 -506,000 -79,000 -100,000 -701,000 -436,000 -449,000 -62,000 -524,000 -36,000 -165,000 -119,000 -390,000 -529,000 -179,000 -270,821 -179 -506,507 -145 207,652 -208,000 -168,000 -105,000 
      investments in short-term time deposits
    		   0 -50,000,000 0 -75,000,000 -25,000,000 -35,000,000 -85,000,000 -90,000,000               
      proceeds from maturities of short-term time deposits
    		   50,000,000 0 75,000,000 60,000,000 40,000,000 80,000,000 70,000,000 65,000,000               
      pool working capital deposits
    		0   -200,000 -750,000 0 -782,000 -2,305,000                  
      net cash provided by/(used in) investing activities
    		-21,006,000 9,571,000 36,915,000                       
      cash flows from financing activities:
    		                         
      borrowings on nonrevolving credit facility debt
    		                         
      borrowings on revolving credit facilities
    		0 0 20,000,000 70,000,000 0   0       50,000,000 0          
      repayments on revolving credit facilities
    		-27,381,000 -35,600,000 -101,600,000 -20,000,000            -105,672,000          
      repayments of debt
    		   0 0 -20,313,000 -19,538,000 -58,365,000 -130,829,000 -55,407,000 -137,449,000 -54,706,000 -26,121,000             
      payments on sale and leaseback financing
    		-12,742,000 -12,397,000 -12,242,000          -9,824,000 -9,731,000 -9,085,000           
      payments of deferred financing costs
    		-5,949,000   0 0 -5,453,000 -306,000 -571,000 -1,860,000 -632,000 -514,000  -226,000             
      repurchase of common stock
    		       -2,712,000 0   -9,980,000              
      cash dividends paid
    		-38,012,000 -29,620,000 -34,495,000 -59,031,000 -73,790,000 -86,933,000 -64,662,000 -61,153,000 -69,436,000 -79,252,000 -98,313,000 -55,011,000 -5,889,000 -5,961,000 -2,980,000 -3,019,000 -34,551,000 -3,367,319 -1,681 -6,764,909 -1,679 1,725,588 -1,729,000   
      cash paid to tax authority upon vesting or exercise of stock-based compensation
    		-248,000 -1,608,000 -3,262,000 0 0 -2,909,000 -4,146,000 -661,000 -149,000 -2,390,000 -2,619,000 -2,923,000              
      net cash from financing activities
    		206,443,000 -79,312,000 -131,599,000 -21,494,000 -161,296,000 -77,787,000 -100,798,000      -35,043,000    -111,663,000 -38,511,147 -18,853  -58,642 62,971,293 -63,077,000  -29,008,000 
      net increase/(decrease) in cash and cash equivalents
    		     36,640,000 12,741,000                   
      cash and cash equivalents at beginning of year
    		0 0 157,506,000  0 0 126,760,000                   
      cash and cash equivalents at end of period
    		263,762,000 16,038,000 132,769,000  -72,832,000 36,640,000 139,501,000                   
      net (decrease)/increase in cash and cash equivalents
    		 16,038,000 -24,737,000                       
      loss on write-down of vessels and other assets
    		           0 0 0 1,697,000 0 0   103,004,864 11,667     
      amortization of time charter hire contracts acquired
    		           0 158,000 344,000 340,000 685,000          
      deferred financing costs write-off
    		       734,000 1,231,000 555,000 166,000 656,000 349,000 128,000 133,000     13,059,927 572 -12,488,499 12,501,000 3,215,000  
      earnings of affiliated companies
    		           -280,000 0 -4,420,000 -5,597,000 -5,265,000 -5,730,000 -10,837,532 -5,468 -3,997,434 -5,357 3,840,791 -3,851,000 -5,321,000 -8,578,000 
      loss on extinguishment of debt
    		       0            1,195,805 181 -990,986 992,000 1,000,000  
      loss on sale of investment in affiliated companies
    		                         
      cash distributions from affiliated companies
    		           861,000 0 0 2,250,000 3,060,000 3,150,000 3,622,175 2,825 4,635,500 3,250 -3,244,750 3,250,000 3,641,000 3,686,000 
      decrease/(increase) in receivables
    		       -27,338,000 21,261,000 6,941,000 41,746,000             -8,387,000 -998,000 
      increase in deferred revenue
    		                         
      net change in inventories, prepaid expenses and other current assets and
    		                         
      accounts payable, accrued expense, and other current and long-term liabilities
    		                         
      expenditures for vessels, vessel improvements and vessels under construction, including deposits for acquisitions
    		      -26,420,000                   
      security deposits for vessel exchange transactions
    		                         
      proceeds from disposal of vessels and other assets
    		                         
      proceeds from sale of investment in affiliated companies
    		                         
      net cash (used in)/provided by investing activities
    		       45,284,000 39,033,000            -3,266 15,129,235 -15,157,000   
      borrowings on long term debt, net of lenders' fees
    		            0             
      premium and fees on extinguishment of debt
    		       0            -204,837      
      proceeds from sale and leaseback financing, net of issuance and deferred financing costs
    		       0 0 113,995,000 55,722,000 19,214,000 28,715,000 39,675,000 20,401,000           
      payments on sale and leaseback financing and finance lease
    		   -12,463,000   -12,146,000 -12,233,000   -34,619,000               
      repurchases of common stock
    		                   -29,967,003 0 9,982,003 -10,012,000   
      cash, cash equivalents and restricted cash at beginning of year
    		       0 0 0 243,744,000 0 0 0 98,933,000 0 0 215,461,323 215,677 150,092,757 0 -150,092,757 150,243,000 0 0 
      cash and cash equivalents at end of year
    		                         
      equity in results of affiliated companies
    		        0 0 20,000               
      (decrease)/increase in deferred revenue
    		               -780,000          
      net cash from investing activities
    		    -40,671,000 -53,512,000 -42,903,000    -72,225,000 -9,228,000   -14,649,000   -21,061,583 -3,417      3,360,000 
      net decrease in cash and cash equivalents
    		                         
      payments and advance payment on sale and leaseback financing and finance lease
    		                         
      net income/
    		          172,633,000 218,429,000 113,427,000        13,981     
      items included in net income/(loss) not affecting cash flows:
    		                         
      merger and integration related costs, noncash
    		               0          
      items included in net income/(loss) related to investing and financing activities:
    		                         
      increase/(decrease) in deferred revenue
    		           1,600,000        2,993,378 -1,348     
      net cash provided by/(used in) by operating activities
    		                         
      cash acquired, net of equity issuance costs related to merger
    		               -108,000          
      cash payments on derivatives containing other-than-insignificant financing element
    		               -11,720,000 -1,354,000 -2,621,688 -1,312       
      distribution to noncontrolling interest
    		                         
      net cash from by financing activities
    		       -182,983,000 -164,543,000                 
      net (decrease)/increase in cash, cash equivalents and restricted cash
    		       -12,216,000 22,953,000       -33,658,000      39,910,218 -39,916,000   
      cash, cash equivalents and restricted cash at end of year
    		                         
      ​
    		                         
      balance at january 1, 2021
    		                         
      issuance of common stock related to merger
    		                         
      derecognition of noncontrolling interest
    		                         
      other comprehensive income
    		                         
      dividends declared
    		                         
      forfeitures of vested restricted stock awards
    		                         
      compensation relating to restricted stock awards
    		                         
      compensation relating to restricted stock units awards
    		                         
      compensation relating to stock option awards
    		                         
      balance at december 31, 2021
    		                         
      impact of deconsolidating dasm
    		                         
      forfeitures of vested restricted stock awards and exercised stock options
    		                         
      balance at december 31, 2022
    		                         
      other comprehensive loss
    		                         
      balance at december 31, 2023
    		                         
      loss on sale of investments in affiliated companies
    		            1,000             
      proceeds from sale of investments in affiliated companies
    		            -1,103,000             
      issuance of debt, net of issuance and deferred financing costs
    		                   362,626,011 0 -362,626,011 362,989,000   
      cash, cash equivalents and restricted cash at end of period
    		        22,953,000 -58,526,000 174,549,000  -56,195,000 156,116,000 75,604,000  -973,000 133,391,599 172,401  9,193 -110,182,539 110,327,000  -26,070,000 
      net cash provided by/(used in) operating activities
    		          220,822,000  91,356,000             
      net cash (used in)/provided by financing activities
    		          -217,792,000               
      net decrease in cash, cash equivalents and restricted cash
    		          -69,195,000    -23,329,000   -82,069,724 -43,276       
      change in fair value of interest rate collar recorded through earnings
    		                   1,269,729 0 -1,269,729 1,271,000   
      (increase)/decrease in receivables
    		               -10,238,000          
      investments in and advances to affiliated companies
    		           -500,000 2,700,000 -311,000 -527,000 -693,000 -6,766,000 -95,054 54 2,344,653 2,393 -364,046 364,000 234,000 1,670,000 
      repayments of advances from joint venture investees
    		                         
      borrowings on long term debt, net of lenders' fees and deferred financing costs
    		                         
      balance at january 1, 2020
    		                         
      balance at december 31, 2020
    		                         
      write-off of registration statement costs
    		                0 693,306 694       
      increase in receivables
    		            -48,236,000 -61,440,000 -13,369,000   -7,616,260 -2,740    -20,249,000   
      expenditures for vessels and vessel improvements
    		            -33,802,000 -15,812,000 -37,989,000  -20,084,000 -24,126,719 -3,281 -50,002,551 -5,500 28,873,051 -28,914,000 -26,810,000 -4,441,000 
      investments in short term time deposits
    		                         
      cash payments on derivatives containing other-than-insignificant financing elements
    		                         
      net increase/(decrease) in cash, cash equivalents and restricted cash
    		            -56,195,000             
      (gain)/loss on disposal of vessels and other assets
    		             -8,102,000 -3,073,000           
      common stock issuance costs
    		                         
      cash paid to tax authority upon vesting of stock-based compensation
    		             -523,000 -970,000 0 -95,000 -1,029,511 -489 -1,539,728 -72 703,800 -705,000 0 -10,000 
      extinguishment of debt
    		              -10,981,000     -422,276,301 -40,000 382,316,301 -382,699,000 -100,000,000  
      payments on debt
    		              -35,284,000 -51,870,000 -81,652,000 -30,726,629 -15,371 -81,940,364 -15,370 30,843,734 -30,895,000 -11,380,000 -18,879,000 
      net cash provided by/(used in) financing activities
    		              11,101,000           
      release other comprehensive loss upon sale of investment in affiliated companies
    		                         
      gain on sale of investment in affiliated companies
    		                         
      net cash (used in)/provided by operating activities
    		               -27,159,000 -26,515,000 -22,496,994 -21,006       
      extinguishment of debt, including premiums and fees
    		                         
      balance at january 1, 2019
    		                         
      balance at december 31, 2019
    		                         
      net (loss)/income
    		                -67,878,000 -32,134,635 -13,365       
      items included in net (loss)/income not affecting cash flows:
    		                         
      items included in net (loss)/income related to investing and financing activities:
    		                         
      gain on disposal of vessels and other property
    		                      -2,804,000   
      issuance of debt, net of issuance costs
    		                19,518,000         
      loss/(gain) on disposal of vessels and other property
    		                 518,989 11      -1,472,000 
      net increase in cash, cash equivalents and restricted cash
    		                   65,430,589     -26,070,000 
      stock compensation, non-cash
    		                    1,490 -1,203,497 1,206,000 1,366,000 1,091,000 
      (gain)/loss on disposal of vessels and other property
    		                    1,167     
      repayments of advances from affiliated companies
    		                        -436,000 
      payments on derivatives containing other-than-insignificant financing element
    		                         
      loss/(gain) on disposal of vessels and other assets
    		                         
      premium on extinguishment of debt
    		                       -1,992,000  
      loss on repurchase of debt
    		                         
      loss on write-down of vessels and other fixed assets
    		                         
      allocated reorganization items, non-cash
    		                         
      allocated general and administrative costs, non-cash
    		                         
      loss/(gain) on repurchase of debt
    		                         
      deferred financing costs paid for loan modification
    		                         
      decrease in payable to osg
    		                         
      net change in inventories, prepaid expenses and other current assets and accounts payable, accrued expense, and other current and long-term liabilities
    		                         
      net cash (used in)/ provided by operating activities
    		                         
      dividend payments to osg
    		                         
      loss on write-down of vessels
    		                         
      direct and allocated stock compensation, non-cash
    		                         
      undistributed earnings of affiliated companies
    		                         
      allocated general and administrative expenses recorded as capital contributions
    		                         
      discount on repurchase of debt
    		                         
      (decrease)/increase in payable to osg
    		                         
      (increase)/decrease in restricted cash
    		                         
      deferred income tax benefit
    		                         
      bankruptcy claim payments
    		                         
      (decrease)/increase in cost sharing reimbursement payable to osg
    		                         
      net change in inventory, prepaid expenses and other current assets, accounts payable,accrued expenses and other current and long-term liabilities
    		                         
      decrease/(increase) in restricted cash
    		                         
      payments on debt, including adequate protection payments
    		                         
      net change in investment of osg
    		                         
      contributions by osg
    		                         
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.