Sitemap | Glossary

Investor Relations

Home > Investor Relations > Analytical > Five Year Highlights

Five-Year Highlights

  2011 2010 2009 2008 2007
(in thousands of U.S. $, except number of shares, per common share data, fleet and other financial data)

Income Statement Data:

Total operating revenues 299,848 244,045 216,495 228,779 224,674
Gain on sale of vessel/newbuilding - - - 78,108 41,088
Vessel operating expenses 62,872 52,910 60,709 61,868 52,986
Voyage and charter-hire expenses 6,042 32,311 39,463 33,126 10,763
Administrative expenses 33,679 22,832 19,958 17,815 18,645
Depreciation and amortization 70,286 65,076 63,482 62,005 60,163
Impairment of long-lived assets 500 4,500 1,500 110 2,345
Gain on sale of long-lived assets - - - 430 -
Other operating gains (losses) (5,438) (6,230) - - -
Operating income 121,031 60,186 31,383 132,393 120,860
Gain on sale of available-for-sale securities 541 4,196 - - 46,276
Net financial expenses 53,102 66,961 (1,692) (132,761) (65,592)
Income/(loss) before equity in net earnings of investees, income taxes and noncontrolling interests 68,470 (2,579) 29,691 (368) 101,544
Income taxes 1,705 (1,427) (1,643) (510) 299
Noncontrolling interests (21,625) 5,825 (8,419) (6,705) (6,547)
Equity in net (losses) earning of investees (1,900) (1,435) (4,902) (2,406) 13,640
Gain on sale of investee - - 8,355 - 27,268
Net (loss) income attributable to the shareholders 46,650 (384) 23,082 (9,989) 136,204
Earnings (loss) per common share
- basic 0.62 0.01 0.34 (0.15) 2.09
- diluted 0.62 0.01 0.34 (0.15) 2.07
Cash dividends declared and paid per common share 1.13 0.45 - 1.00 2.25
Weighted average number of shares – basic 74,707 67,173 67,230 67,214 65,283
Weighted average number of shares - diluted 75,033 67,393 67,335 67,214 65,715
 

Balance Sheet Data (at end of year):

Cash and cash equivalents 66,913 164,717 122,231 56,114 185,739
Restricted cash and short-term investments 28,012 21,815 40,651 60,352 52,106
Amounts due from related parties 354 222 795 538 712
Long-term restricted cash 185,270 186,041 594,154 557,052 792,038
Equity in net assets of non-consolidated investees 22,529 20,276 21,243 30,924 14,023
Newbuildings 190,100 - - - -
Vessels and equipment, net 1,203,003 1,103,137 653,496 668,141 659,018
Vessels under capital lease, net 501,904 515,666 992,563 893,172 789,558
Total assets 2,232,634 2,077,772 2,492,436 2,359,729 2,573,610
Current portion of long-term debt 64,306 105,629 74,504 71,395 80,037
Current portion of obligations under capital leases 5,909 5,766 8,588 6,006 5,678
Long-term debt 707,243 691,549 707,722 737,226 735,629
Long-term obligations under capital leases 399,934 406,109 844,355 784,421 1,024,086
Noncontrolling interest 78,055 188,734 162,673 41,688 36,983
Stockholders’ equity 677,765 410,588 495,511 452,145 552,532
Common shares outstanding 80,237 67,808 67,577 67,577 67,577
 

Cash Flow Data:

Net cash provided by operating activities 116,608 51,710 42,800 48,495 73,055
Net cash (used in) provided by investing activities (298,644) 364,736 (56,460) (83,548) 224,435
Net cash (used in) provided by financing activities 84,232 (373,960) 79,777 (94,572) (168,367)
 

Fleet Data (unaudited)

Number of vessels at end of year 12 12 13 14 12
Average number of vessels during year 12 12,7 13 13 12
Average age of vessels (years) 18.8 17,8 15.6 13.9 14.7
Total calendar days for fleet 4,380 4,644 4,893 4,836 4,380
Total operating days for fleet 3,255 2,939 3,351 3,617 3,732
 

Other Financial Data (Unaudited):

Average daily time charter equivalent (TCE) earnings (10) $87,700 $57,200 $47,400 $45,700 $51,000
Average daily vessel operating costs $14,354 $12,080 $13,410 $13,041 $12,097


Year Ended December 31,
    2010 2009 2008 2007
(in thousands of U.S.$, except number of days and average daily TCE)
Total operating revenues 299,848 244,045 216,495 228.779 224,674
Voyage expenses (6,042) (20,959) (20,093) (24,483) (10,763)
  293,806 223,086 196,402 204,296 213,911
Calendar days less scheduled off-hire days 3,352 3,901 4,145 4,298 4,197
Average daily TCE (to the closest $100) 87,700 57,200 47,400 45,700 51,000


We calculate average daily vessel operating costs by dividing vessel operating costs by the number of calendar days.