Note 4  Business and Segment Reporting: The Company has two reportable segments: Crude Tankers and Product Carriers. The Companys investments in and equity in income of the joint ventures with two floating storage and offloading service vessels are included in the Crude Tankers Segment. The Companys investments in and equity in income of the joint venture with four LNG Carriers, which was sold in October 2019, was included in Other. Adjusted income from vessel operations for segment purposes is defined as income from vessel operations before general and administrative expenses, provision for credit losses, third-party debt modification fees, and gain on disposal of vessels and other property . The accounting policies followed by the reportable segments are the same as those followed in the preparation of the Companys condensed consolidated financial statements. Information about the Companys reportable segments as of and for the three months ended March 31, 2020 and 2019 follows: Crude Product Tankers Carriers Other Totals Three months ended March 31, 2020: Shipping revenues $ 93,677 $ 31,660 $ - $ 125,337 Time charter equivalent revenues 88,854 30,877 - 119,731 Depreciation and amortization 14,245 3,998 24 18,267 Gain on disposal of vessels and other property (2,804) - - (2,804) Adjusted income/(loss) from vessel operations 43,949 14,353 (29) 58,273 Equity in income of affiliated companies 5,111 - - 5,111 Investments in and advances to affiliated companies at March 31, 2020 143,403 7,997 - 151,400 Adjusted total assets at March 31, 2020 1,292,689 332,236 - 1,624,925 Expenditures for vessels and vessel improvements 11,301 17,613 - 28,914 Payments for drydockings 7,205 360 - 7,565 Three months ended March 31, 2019: Shipping revenues $ 80,385 $ 21,489 $ - $ 101,874 Time charter equivalent revenues 72,586 21,443 - 94,029 Depreciation and amortization 14,477 4,418 34 18,929 Loss/(gain) on disposal of vessels and other property 17 (65) - (48) Adjusted income/(loss) from vessel operations 23,362 4,058 (43) 27,377 Equity in income of affiliated companies 4,770 - 3,300 8,070 Investments in and advances to affiliated companies at March 31, 2019 139,832 12,703 114,983 267,518 Adjusted total assets at March 31, 2019 1,306,866 326,696 114,983 1,748,545 Expenditures for vessels and vessel improvements 2,955 7 - 2,962 Payments for drydockings 4,231 207 - 4,438 Reconciliations of time charter equivalent (TCE) revenues of the segments to shipping revenues as reported in the condensed statements of operations follow: Three Months Ended March 31, 2020 2019 Time charter equivalent revenues $ 119,731 $ 94,029 Add: Voyage expenses 5,606 7,845 Shipping revenues $ 125,337 $ 101,874 Consistent with general practice in the shipping industry, the Company uses time charter equivalent revenues, which represents shipping revenues less voyage expenses, as a measure to compare revenue generated from a voyage charter to revenue generated from a time charter. Time charter equivalent revenues, a non-GAAP measure, provides additional meaningful information in conjunction with shipping revenues, the most directly comparable GAAP measure, because it assists Company management in making decisions regarding the deployment and use of its vessels and in evaluating their financial performance. Reconciliations of adjusted income from vessel operations of the segments to income before income taxes, as reported in the condensed consolidated statements of operations follow: Three Months Ended March 31, 2020 2019 Total adjusted income from vessel operations of all segments $ 58,273 $ 27,377 General and administrative expenses (7,434) (6,773) Provision for credit losses, net (62) (1,298) Third-party debt modification fees (232) (30) Gain on disposal of vessels and other property 2,804 48 Consolidated income from vessel operations 53,349 19,324 Equity in income of affiliated companies 5,111 8,070 Other (expense)/income (13,432) 1,036 Interest expense (12,009) (17,533) Income before income taxes $ 33,019 $ 10,897 Reconciliations of total assets of the segments to amounts included in the condensed consolidated balance sheets follow: March 31, 2020 March 31, 2019 Total assets of all segments $ 1,624,925 $ 1,748,545 Corporate unrestricted cash and cash equivalents 93,298 79,537 Restricted cash 17,029 57,618 Other unallocated amounts 5,476 5,370 Consolidated total assets $ 1,740,728 $ 1,891,070