Capital product partners l.p. (CPLP)
CashFlow / Yearly
Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net income

38,483

52,489

55,410

44,012

99,481

-21,189

87,120

18,919

32,716

Adjustments to reconcile net income to net cash provided by operating activities:
Vessel depreciation and amortization (Note 4)

73,993

71,897

62,707

57,476

52,208

48,235

37,214

-

-

Vessels' impairment

-

-

-

-

-

43,178

-

-

-

Vessel depreciation

-

-

-

-

-

-

-

31,464

30,685

Vessels' impairment (Notes 3, 5)

-

-

-

-

-

-

0

0

-

Gain from bargain purchase (Note 3)

-

-

-

-

42,256

0

82,453

0

-

Gain from bargain purchase

-

-

-

-

-

-

-

-

0

Amortization and write off of deferred financing costs

1,262

1,250

908

809

405

480

809

552

456

Amortization of above market acquired charters (Note 5)

15,208

14,542

14,864

16,000

13,594

7,904

5,489

938

-

Amortization of above market acquired charters (Note 6)

-

-

-

-

-

-

-

-

0

Equity compensation expense (Note 9)

1,156

1,074

34

0

3,528

3,826

2,455

782

0

Impairment of vessel (Notes 5, 8)

3,282

0

0

-

-

-

-

-

-

Gain on interest rate swap agreements (Note 8)

-

-

-

-

4

1,448

2,310

0

-

Loss on sale of vessels to third parties

-

-

-

-

-7,073

1,296

0

0

-

Accrual on gain on sale of claim (Note 15)

-

-

-

-

644

0

0

-

-

Changes in operating assets and liabilities:
Gain on interest rate swap agreement

-

-

-

-

-

-

-

-

0

Trade accounts receivable, net

2,275

-183

92

-1,777

1,171

-221

-7,211

2,717

-5,381

Due from related parties

0

0

-55

-612

667

0

-2

-6

1,795

Prepayments and other assets

-486

600

2,102

463

117

-237

589

-230

2

Inventories

719

354

973

694

407

-1,677

-5,576

-237

264

Trade accounts payable

2,764

-595

1,929

-1,570

2,066

-5,594

-4,600

118

507

Due to related parties

-1,861

-6,059

4,657

3,811

-3,761

7,009

-4,507

-570

4,460

Accrued liabilities

7,624

662

1,114

178

1,573

480

-247

-409

271

Deferred revenue

-11,299

24,267

-2,207

3,919

-1,852

1,078

5,369

501

147

Dry-docking costs paid

-1,130

-3,670

-2,095

-590

-761

0

0

-

-

Net cash provided by operating activities

126,974

155,086

134,209

125,277

129,576

84,798

56,539

50,051

72,562

Cash flows from investing activities:
Vessel acquisitions and improvements including time charter agreements (Note 4)

2,038

90,782

207,937

103

363,038

1,614

-

-

-

Advances for vessels under construction - related party (Note 5)

-

-

-

30,224

0

0

-

-

-

Vessel acquisitions and improvements (Notes 3, 5)

-

-

-

-

-

-

27,003

99,842

-

Vessel acquisitions and new building advances (Note 5)

-

-

-

-

-

-

-

-

26,460

Acquisition of above market bare-boat charter (Note 6)

-

-

-

-

-

-

-

9,000

0

Increase in restricted cash

0

1,000

2,000

0

4,500

3,750

1,500

750

0

Proceeds from sale of vessel

-

-

-

-

32,192

21,299

0

0

-

Cash and cash equivalents acquired in business acquisition

-

-

-

-

-

-

11,847

0

0

Purchase of short term investments

-

-

-

-

-

-

-

81,729

-

Maturity of short term investments

-

-

-

-

-

-

-

112,119

-

Purchase of short term investments

-

-

-

-

-

-

-

-

111,850

Maturity of short term investments

-

-

-

-

-

-

-

-

82,540

Net cash used in investing activities

-2,038

-91,782

-209,937

-30,327

-335,346

15,935

-16,656

-79,202

-55,770

Cash flows from financing activities:
Proceeds from issuance of Partnership units (Note 8)

17,815

4,546

133,327

173,932

195,771

140,000

1,470

105,273

0

Expenses paid for issuance of Partnership units

247

784

739

416

3,410

1,673

0

1,533

0

Proceeds from related-party debt

-

-

-

-

-

-

-

-

26,400

Payments of long-term debt (Note 7)

-

-

-

-

-

-

-

-

0

Payments of related-party debt/ financing

-

-

-

-

-

-

-

1,556

52,171

Deferred financing costs paid

4,993

31

1,797

41

2,879

348

338

0

725

Repurchase from CMTC and cancellation of Partnership's units (Note 12)

-

-

-

60,000

0

0

-

-

-

Proceeds from issuance of long-term debt (Note 7)

0

35,000

115,000

0

129,000

0

159,580

0

0

Payments of long-term debt (Note 6)

129,262

17,354

121,299

5,400

4,050

175,215

134,580

0

-

Dividends paid (Note 8)

51,630

68,193

122,773

102,798

88,241

73,316

45,116

-

-

Excess of purchase price over book value of vessels acquired from entity under common control

-

-

-

-

-

-

-

10,449

-

Excess of purchase price over book value of vessels acquired from entity under common control

-

-

-

-

-

-

-

-

0

Dividends paid

-

-

-

-

-

-

-

33,665

70,463

Capital contributions by CMTC

-

-

-

-

-

-

-

-

40,570

Net cash used in financing activities

-168,317

-46,816

1,719

5,277

226,191

-110,552

-18,984

58,070

-56,389

Supplemental cash flow information
Cash paid for interest

19,646

23,763

16,759

16,564

14,845

25,864

32,210

31,860

31,548

Non-Cash Investing and Financing Activities
Offering expenses included in liabilities

35

106

0

12

-7

1,908

0

-

-

Excess between the fair value of the contracted vessels and the contractual cash consideration (Note 5)

-

-

-

36,417

0

0

-

-

-

Capital expenditures included in liabilities

312

1,383

769

183

103

134

252

175

870

Deferred financing costs included in liabilities

79

0

0

-

-

-

-

-

-

Capitalized dry docking costs included in liabilities

11

1,141

1,687

0

628

0

0

-

-

Assumption of loan regarding the acquisition of the shares of the companies owning the M/T Aristaios and the M/T Anikitos (Notes 4, 6)

0

15,750

0

0

-

-

-

-

-

Reconciliation of Cash, cash equivalents and restricted cash
Net (decrease) / increase in cash and cash equivalents

-43,381

16,488

-74,009

100,227

20,421

-9,819

20,899

28,919

-39,597

Units issued to acquire Filonikis (Note 3)

0

911

0

0

-

-

-

-

-

Fair value of vessels purchased, M/V Archimidis and M/V Agamemnon (Note 3)

-

-

-

-

-

133,000

0

0

-

Fair value of vessels sold, M/T Alexander the Great and M/T Achilleas, reduced by the net cash consideration received (Note 3)

-

-

-

-

-

-137,500

0

0

-

Acquisition of above market time charter (Note 3)

-

-

-

-

97,256

4,500

48,551

0

0

Net book value of vessels transferred-in, M/T Agamemnon II and M/T Ayrton II less cash paid.

-

-

-

-

-

-

-

-

68,054

Net book value of vessels transferred-out, M/T Assos and M/T Atrotos

-

-

-

-

-

-

-

-

-70,496

Net liabilities assumed by CMTC upon contribution of vessels to the partnership (Note 12)

-

-

-

-

-

-

-

31,844

31,073

Units issued to acquire M/V Cape Agamemnon (Note 3)

-

-

-

-

-

-

57,055

0

0

Reduction in deferred offering expenses

-

-

-

-

-

-

-

107

0

Offering expenses included in liabilites

-

-

-

-

-

-

-

31

-

Change in payable offering expenses

-

-

-

-

-

-

-

-

0

Crude's net assets at the completion of the business acquisition (Note 12)

-

-

-

-

-

-

211,144

0

0

Units issued to acquire Crude (Note 3)

-

-

-

-

-

-

155,559

0

0

Fair value of Crude's Equity Incentive Plan attributable to pre combination services (Note 3)

-

-

-

-

-

-

1,505

0

-

Fair value of Crude's Equity Incentive Plan attributable to precombination services (Note 3)

-

-

-

-

-

-

-

-

0