EAGLE BULK SHIPPING INC. EGLE Cash Flow

Eagle bulk shipping inc. (EGLE)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net (loss)/income
-3,527	-11,171	-4,562	-5,992	29	6,486	2,584	3,450	52	-16,584	-10,255	-5,888	-11,068	-142,389	-19,359	-22,495	-39,278	-79,744	-20,376	-27,508	-20,667	-11,548	-22,589	-31,226	-37,630	-3,039	1,374	-32,423	-29,837	-23,106	-17,433	-1,698	-5,872	-1,438	-5,810
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:
Depreciation
10,566	9,472	8,410	8,265	8,168	8,248	8,066	7,975	8,073	7,917	7,897	7,027	6,510	8,983	8,912	8,758	8,902	-	-	-	-	8,781	18,413	18,874	18,903	18,710	18,515	18,934	18,931	18,728	18,728	18,872	17,958	16,819	16,236
Amortization of operating lease right-of-use assets
3,225	3,284	3,237	2,971	3,271	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred drydocking costs
1,899	1,848	1,645	1,495	1,238	1,459	1,393	1,296	1,203	1,278	1,083	993	982	995	941	895	493	-	-	-	-	0	663	609	463	449	421	403	457	699	704	751	701	821	922
Amortization of debt discount and debt issuance costs
1,503	-	-	-	503	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred drydocking costs
1,899	1,848	1,645	1,495	1,238	1,459	1,393	1,296	1,203	1,278	1,083	993	982	-	-	-	-	-	-	-	-	-	663	609	463	449	421	403	457	699	704	751	701	821	922
Amortization of debt discount and debt issuance costs
-	-	-	-	-	-	-	480	490	1,369	1,656	1,456	1,444	1,440	2,292	491	308	-	-	-	-	24	2,015	1,761	2,106	2,089	2,075	2,114	2,096	1,196	1,135	1,157	1,096	924	993
Loss on debt extinguishment
0	0	0	0	-2,268	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discount on Exit Facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	231	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of fair value below contract value of time charter acquired
-	-	-	-	-	-170	-170	-170	-170	-170	-170	-170	-205	-205	-205	-205	-46	-	-	-	-	-235	-	0	0	0	-10,280	-1,196	-1,139	-1,205	-1,228	-	-	-	-
Amortization of fair value below contract value of time charter acquired
-	-	-	-	-	-170	-170	-170	-170	-170	-170	-170	-205	-	-	-	-	-	-	-	-	-	-	0	0	0	-10,280	-1,196	-1,139	-1,205	-1,228	-	-	-	-
Paid-in-Kind Interest
-	-	-	-	-	-	-	-	-	-	2,772	2,642	2,334	2,544	2,659	2,123	0	-	-	-	-	0	7,337	7,453	7,259	7,291	7,174	-	-	-	-	-	-	-	-
Gain on sale of vessels
0	-65	971	966	4,106	-5	235	105	0	34	202	1,805	92	0	299	-401	0	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of fair value below contract value of time charter acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,267	-1,271	-1,294
Payment-in-kind interest on debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,394	707	0	-	-	-	-
Net unrealized gain on fair value of derivatives
7,157	-	-2,089	-1,006	2,958	-	-182	443	-208	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-388	142	751	-69	114	-423
Vessel impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	122,860	0	0	6,167	50,872	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized loss from sale of investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-884	-	-8,219	-7,646	-13	-2,952	-	-	-	0	-	-	-	-
Net unrealized loss/(gain) on fair value of derivatives
-	-	-	-	-	-	-	-	-	-182	863	-1,029	293	-15	-279	294	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on time charter agreement termination
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	72	25,629	3,331	-	-	-	0	-	-	-	-
Allowance for accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	0	12	1,900	3,438	-4,775	0	0	6,586
Stock-based compensation expense
836	998	1,155	1,227	1,445	1,186	2,100	2,409	3,510	1,739	2,350	2,478	2,170	1,273	-734	841	826	-	-	-	-	2,121	279	536	562	1,810	1,955	2,361	2,130	2,799	2,082	1,948	2,019	2,202	2,737
Drydocking expenditures
5,176	5,841	1,556	1,978	2,527	1,786	1,904	3,524	1,107	-193	2,431	315	25	-26	1,677	761	1,276	-	-	-	-	1,960	870	1,259	940	756	681	8	-82	640	527	735	789	1,067	217
Changes in operating assets and liabilities:
Accounts payable
-3,427	4,998	2,612	-5,879	1,467	-444	785	-891	1,544	237	-608	955	-249	676	-1,437	-3,514	3,195	-	-	-	-	-1,903	-1,804	-4,515	2,701	93	-2,092	761	2,844	-3,875	-138	1,244	935	-555	2,929
Drydocking expenditures
5,176	5,841	1,556	1,978	2,527	1,786	1,904	3,524	1,107	-193	2,431	315	25	-	-	-	-	-	-	-	-	-	870	1,259	940	756	681	8	-82	640	527	735	789	1,067	217
Accounts receivable
2,020	1,896	-1,142	62	-810	4,568	3,069	-903	-3,270	7,088	-1,103	2,495	3,676	-1,364	890	-1,533	19	-	-	-	-	1,007	2,524	52	-1,829	2,218	1,451	-4,490	3,556	-816	2,444	-14,858	4,791	126	11,346
Accrued interest
2,476	-2,341	4,903	-4,231	5,255	-4,216	4,218	-4,179	4,122	1,749	26	13	-28	28	0	-327	-73	-	-	-	-	516	-1	-114	-727	-51	-1,383	477	-1,113	831	-580	-2,030	-156	-1,077	-1,262
Inventories
-463	1,540	1,289	-143	-2,999	2,861	1,365	-1,710	-490	1,510	31	3,842	-2,148	3,880	148	1,250	21	-	-	-	-	-2,919	-2,875	-2,500	295	-904	636	1,269	-1,768	964	533	2,805	-251	3,186	2,152
Operating lease liabilities short and long-term
-3,390	-3,451	-3,407	-2,973	-3,643	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Derivative asset, other current and non-current assets
4,092	-2,514	1,896	198	-1,084	-346	220	211	121	-1,585	791	698	426	175	-1,250	1,227	-125	-	-	-	-	-1,086	2,301	-1,208	3,881	-474	724	86	-1,784	131	-436	-1	1,892	6	628
Other accrued liabilities and other non-current liabilities
-3,755	4,117	-3,395	5,846	-2,306	2,936	-729	1,677	-5,009	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses
-612	1,167	-514	37	-694	2,367	-529	-865	652	889	-943	473	-502	456	-173	177	-598	-	-	-	-	-43	2,317	2,172	-792	-134	710	283	-1,786	1,643	-565	311	1,130	-2,496	1,565
Other accrued and non-current liabilities
-	-	-	-	-	-	-	-	-	-	1,381	144	-3,738	367	77	63	19	-	-	-	-	-4	1,520	-2,838	-942	-76	-3,429	1,160	527	-924	902	-2,737	4,275	-371	4,805
Unearned revenue
-1,459	1,536	725	-2,742	-1,753	1,878	1,073	-1,329	-1,031	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unearned revenue
-1,459	1,536	725	-2,742	-1,753	1,878	1,073	-1,329	-1,031	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	-0	-3,766	-158	-158	-188	-124	-467	-119	152	-13
Unearned revenue
-	-	-	-	-	-	-	-	-	-	-	-744	1,114	-	1,230	1,453	583	-	-	-	-	-227	-532	1,003	479	-44	193	-428	97	492	-2,186	-77	-1,134	-2,393	3,295
Net cash used in operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-13,104	-19,494	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in)/provided by operating activities
-12,424	2,731	10,493	-3,480	11,941	6,980	13,702	9,914	14,873	-11,519	6,745	-3,253	-2,009	-	-	-	-	-	-	-	-	-279	165	-11	-1,856	264	1,248	2,133	4,107	-4,116	2,653	21,188	10,662	12,652	13,792
Cash flows from investing activities:
Purchase of vessel and vessel improvements
466	62,112	62,887	12	18,465	21,361	-258	460	19,841	396	52,672	104,034	17,297	19,660	-37	124	112	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of scrubbers and ballast water systems
18,087	-	-	-	11,244	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from hull and machinery insurance claims
3,569	1,733	810	1,301	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance paid for purchase of scrubbers and ballast water systems
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from redemption of short-term investment
-	-	-	-	-	0	0	0	4,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of vessels
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance paid for purchase of vessel
-	-	-	-	-	-	-	-	-	-	-	10,543	10,320	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds/(purchase) of short-term investment
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,400	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of short-term investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	-0	0	4,925	-	-	-	0	-	-	-	-
Proceeds from sale of vessels
0	-65	6,995	9,810	12,820	0	10,826	9,719	0	7,642	7,813	4,796	5,790	0	7,234	5,767	0	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Vessels and vessel improvements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	194	-	0	0	42	49	0	0	3	54	-	-	-	42,807
Purchase of other fixed assets
37	123	27	177	23	123	97	51	-0	5	-21	157	47	104	35	24	396	-	-	-	-	0	20	-	-	-	-	-15	38	8	1	13	144	140	57
Changes in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	0	-15	15	-394	-1,251	-25	1,157	0
Net cash (used in)/provided by investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,683	-508	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-15,021	-68,227	-81,752	-1,725	-16,913	-27,684	2,804	9,206	-15,340	537	-23,974	-109,939	-21,873	-	-	-	-	-	-	-	-	4,205	-20	42	2,161	163	-49	7	-22	-28	338	-23,136	-32,923	-58,860	-42,865
Cash flows from financing activities:
Repayment of revolver loan under New First Lien Facility
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debtor-In-Possession Loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of Debtor-In-Possession Loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from lines of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from common stock placement, net of issuance costs
-	-	-	-	-	-	-	-	-	0	0	0	96,030	0	85,700	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,617	2,034	15,625	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Financing costs paid to Lender
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-20,500	376	1,123
Debt issuance costs paid to lenders on New Ultraco Debt Facility
-	-	-	-	-	-	-	-	0	-	-575	575	0	619	131	-4	2,340	-	-	-	-	0	-	0	0	0	48	2,405	2,609	6,773	0	-	-	-	-
Cash used to settle net share equity awards
1,161	-	-	-	877	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash used to settle net share equity awards
-	-	-	-	-	-	-	-0	-254	-	0	0	0	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financing costs
13	-	-	-280	0	-	-	-141	-1,231	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,525	11,876	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash used to settle net share equity awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	219	0	1,210
Net cash provided by financing activities
40,538	23,502	106,919	-9,329	6,806	7,222	-1,818	-137	2,113	2,909	12,868	36,109	93,134	-	-	-	-	-	-	-	-	0	-	-273	0	-78	-48	-2,579	-2,674	-6,773	0	-250	-1,595	-376	-2,333
Net increase in cash, cash equivalents and Restricted cash
13,092	-41,993	35,660	-14,535	1,834	-13,481	14,688	18,983	1,646	-8,072	-4,360	-77,084	69,251	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase/(decrease) in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	86,694	-4,894	-8,127	-	-	-	-	3,926	144	-243	304	350	1,150	-439	1,410	-10,918	2,991	-2,198	-23,857	-46,584	-31,406
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the period for interest
5,211	10,101	2,077	10,126	901	10,257	1,892	10,085	1,648	-	-	-	-	-	-	-	-	-	-	-	-	1,586	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrual for other financing costs included in Other accrued liabilities
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental cash flow information:
Accruals for scrubbers and ballast water treatment systems included in Accounts payable and Other accrued liabilities
8,669	7,512	-108	4,227	4,749	5,801	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accruals for debt issuance costs included in Other accrued liabilities
0	-	-	-	300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the period for interest excluding payment of accumulated payment-in-kind interest on the Second Lien Facility paid on December 8, 2017 of $17.7 million.
-	-	-	-	-	-	-	-	-	-	3,482	2,644	2,694	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
New First Lien Facility
Repayment of revolver loan under New First Lien Facility
0	0	0	0	5,000	0	0	0	5,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from debt
0	-5,000	0	0	5,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
0	-	0	0	60,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Ultraco Debt Facility
Proceeds from debt
0	0	0	-153,440	153,440	12,800	0	0	8,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
0	0	0	0	82,600	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
New Ultraco Debt Facility
Proceeds from debt
45,000	34,320	0	153,440	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
5,813	5,048	5,048	5,048	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs paid to lenders on New Ultraco Debt Facility
0	-	0	0	3,156	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Convertible Bond Debt
Proceeds from debt
2,500	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-