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Costamare Inc. (CMRE)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   20-F20-F20-F20-F20-F20-F20-F20-F
REVENUES:          
Voyage revenue  1,113.9793.6460.3478.1380.4412.4468.2443.0
            Voyage revenue growth  40.3%72.4%-3.7%25.7%-7.8%-11.9%5.7%8000.7%
EXPENSES:          
Voyage expenses  -49.1-13.3-7.4-5.3-5.8-2.6-1.9-2.8
Voyage expenses-related parties (Note 3)  -15.4-11.1-6.5-5.3-3.2-3.1-3.5-3.7
Vessels’ operating expenses  -269.2-180.0-117.1-116.1-110.6-103.8-105.8-117.2
General and administrative expenses  9.76.94.13.12.93.27.36.3
General and administrative expenses – related parties (Note 3)  -9.8-9.9-6.9     
Management and agency fees-related parties (Note 3)  -46.7-29.6-21.6     
Amortization of dry-docking and special survey costs (Note 8)  -13.5-10.4-9.1-8.9    
Depreciation (Notes 7, 12 and 22)  166.0137.0108.7113.596.396.4100.9 
Gain / (loss) on sale of vessels, net (Note 7)  126.345.9-79.1-19.6    
Loss on vessels held for sale (Note 7)    -7.7-2.5    
Vessels’ impairment loss (Notes 7 and 8)  -1.7 -31.6     
Foreign exchange gains / (losses)  3.20.0-0.30.0    
    Operating income  662.2441.460.3173.1117.2137.0166.1217.9
            Operating margin  59.5%55.6%13.1%36.2%30.8%33.2%35.5% 
   
OTHER INCOME / (EXPENSES):          
Interest income  6.01.61.83.33.52.61.61.4
Interest and finance costs (Note 18)  -122.2-86.0-68.7-89.0-64.0-69.8-72.8-79.6
Swaps breakage cost, net (Note 20)    0.0     
Income from equity method investments (Note 10)  2.312.916.211.412.13.4-0.1-0.5
Gain on sale of equity securities (Note 5)   60.2      
Dividend income (Note 5)   1.8      
Other, net  3.74.61.20.80.40.60.60.4
   
Gain / (loss) on derivative instruments, net (Note 20)          
    Total other expenses, net  -107.6-6.2-51.5-74.1-49.9-64.1-84.4-74.1
    Net income  554.7435.18.9     
Net loss attributable to the non-controlling interest (Note 15)  0.3       
    Net income attributable to Costamare Inc.  555.0435.18.999.067.272.981.7143.8
Earnings allocated to Preferred Stock (Note 17)    0.0-31.3-30.5  -17.9
Gain on retirement of Preferred Stock (Note 17)    0.6     
    Net income / (loss) available to Common Stockholders  523.9404.1-21.667.736.751.860.6125.9
   
Earnings /  $4.26$3.28($0.18)$0.59$0.33$0.52$0.79$1.68
   
Weighted average number of shares, basic and diluted (Note 17) (in shares)  123.0123.1120.7115.7110.4100.577.275.0

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