$NMM

Navios Maritime Partners L.P.

CIK:0001415921|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Time charter and voyage revenues	$ 1,344,143	$ 1,334,066	$ 1,306,889
Time charter and voyage expenses (including $16,511, $0 and $0 to related parties)	(127,758)	(146,429)	(160,231)
Vessel operating expenses (including $51,344, $351,361 and $336,590 to related parties)	(384,376)	(362,724)	(357,781)
General and administrative expenses	(92,033)	(85,165)	(80,559)
Depreciation and amortization	(348,933)	(292,077)	(261,144)
Amortization of unfavorable lease terms	11,680	12,718	19,922
Gain on sale of vessels, net	16,926	25,760	50,248
Interest expense and finance cost, net	(134,782)	(124,529)	(133,642)
Interest income	12,806	13,803	10,699
Other income	2,386	582	53,682
Other expense	(14,725)	(8,697)	(14,438)
Net income	285,334	367,308	433,645
Other comprehensive loss
Unrealized loss on cash flow hedges	(2,261)
Total other comprehensive loss	(2,261)
Total comprehensive income	283,073	367,308	433,645
Net income
Common Unitholders	279,342	359,867	424,974
General Partner	$ 5,992	$ 7,441	$ 8,671
Earnings per common unit (see Note 18)
Earnings per common unit, basic	$ 9.59	$ 11.98	$ 14.08
Earnings per common unit, diluted	$ 9.59	$ 11.98	$ 14.08

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
OPERATING ACTIVITIES:
Net income	$ 285,334	$ 367,308	$ 433,645
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	348,933	292,077	261,144
Amortization of unfavorable lease terms	(11,680)	(12,718)	(19,922)
Other non-cash adjustments	(14,669)	(7,006)	54,396
Amortization of operating lease assets/ liabilities	(752)	(2,973)	8,918
Amortization and write-off of deferred finance costs	10,705	7,841	7,188
Gain on sale of vessels, net	(16,926)	(25,760)	(50,248)
Stock-based compensation	0	0	4
Changes in operating assets and liabilities:
(Increase)/ decrease in accounts receivable	(671)	8,838	32,793
Decrease in prepaid expenses and other current assets	3,744	8,992	7,609
Decrease in amounts due from related parties (including current and non-current portion)	36,620	3,627	1,156
Increase/ (decrease) in accounts payable	128	(7,728)	(1,629)
Increase in accrued expenses	4,808	1,199	7,559
Increase/ (decrease) in amounts due to related parties	23,484	(32,006)	(72,725)
Increase/ (decrease) in deferred revenue	5,296	929	(8,284)
Payments for dry dock and special survey costs	(169,365)	(119,142)	(101,287)
Net cash provided by operating activities	504,989	483,478	560,317
INVESTING ACTIVITIES:
Net cash proceeds from sale of vessels	191,124	190,293	259,004
Acquisition of/ additions to vessels	(223,950)	(747,023)	(182,898)
Deposits for acquisition/ option to acquire vessel	(317,028)	(260,108)	(282,121)
Other investments	1,806	34,712	(47,000)
Net cash used in investing activities	(348,048)	(782,126)	(253,015)
FINANCING ACTIVITIES:
Cash distributions paid	(5,955)	(6,132)	(6,160)
Proceeds from long-term debt, finance lease and financial liabilities	767,947	966,141	609,723
Proceeds from issuance of senior unsecured bonds	300,000	0	0
Repayment of long-term debt, finance lease and financial liabilities	(1,055,399)	(574,991)	(822,743)
Payments of deferred finance costs	(17,354)	(10,756)	(14,045)
Acquisition of treasury units	(43,000)	(25,000)	0
Net cash (used in)/ provided by financing activities	(53,761)	349,262	(233,225)
Increase in cash, cash equivalents and restricted cash	103,180	50,614	74,077
Cash, cash equivalents and restricted cash, beginning of period	299,789	249,175	175,098
Cash, cash equivalents and restricted cash, end of period	402,969	299,789	249,175
Supplemental disclosures of cash flow information
Cash interest paid	131,128	139,261	144,388
Non cash financing activities
Stock-based compensation	0	0	4
Financial and finance lease liabilities	32,274	27,463	202,373
Non cash investing activities
Net cash proceeds from sale of vessels	10,000	0	0
Deposits for acquisition/ option to acquire vessel	293,475	245,665	20,188
Acquisition of/ additions to vessels	$ (339,367)	$ (318,926)	$ (249,875)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 402,783	$ 270,166
Restricted cash	186	29,623
Other investments	10,483	12,289
Accounts receivable, net	34,070	33,399
Prepaid expenses and other current assets	62,810	60,894
Amounts due from related parties	$ 1,720	$ 36,620
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Total current assets	$ 512,052	$ 442,991
Vessels, net	4,389,868	4,241,292
Deposits for vessel acquisitions	470,550	444,897
Other long-term assets	62,804	61,749
Deferred dry dock and special survey costs, net	264,385	196,194
Amounts due from related parties	7,142	0
Intangible assets	3,233	42,311
Operating lease assets	218,952	243,806
Total non-current assets	5,416,934	5,230,249
Total assets	5,928,986	5,673,240
Current liabilities
Accounts payable	17,892	17,763
Accrued expenses	47,463	33,865
Deferred revenue	61,358	66,209
Operating lease liabilities, current portion	26,938	25,607
Amounts due to related parties	$ 23,484	$ 0
Other Liability, Current, Related Party [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Current portion of finance lease and financial liabilities, net	$ 143,592	$ 102,996
Current portion of long-term debt, net	133,773	163,226
Fair value of derivatives, current	646	0
Total current liabilities	455,146	409,666
Operating lease liabilities, net	188,058	214,995
Unfavorable lease terms	3,586	15,266
Long-term finance lease and financial liabilities, net	613,245	945,613
Long-term debt, net	974,584	917,102
Senior unsecured bonds, net	294,392	0
Deferred revenue	49,178	55,534
Other long-term liabilities	8,436	8,436
Fair value of derivatives, non-current	1,615	0
Total non-current liabilities	2,133,094	2,156,946
Total liabilities	2,588,240	2,566,612
Commitments and contingencies
Partners’ capital:
Common Unitholders (28,665,121 and 29,694,433 common units outstanding as of December 31, 2025 and December 31, 2024, respectively)	3,283,806	3,053,295
General Partner (622,296 general partnership units outstanding at each of December 31, 2025 and December 31, 2024)	59,201	53,333
Accumulated Other Comprehensive Loss	(2,261)	0
Total partners’ capital	3,340,746	3,106,628	$ 2,770,452
Total liabilities and partners’ capital	$ 5,928,986	$ 5,673,240