EAGLE BULK SHIPPING INC. EGLE Cash Flow

Eagle bulk shipping inc. (EGLE)

CashFlow / TTM

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
-25,254	-21,697	-4,039	3,108	12,551	12,574	-10,496	-23,336	-32,675	-43,796	-169,601	-178,705	-195,312	-223,522	-160,878	-161,895	-166,908	-148,296	-80,100	0	0	0	-94,485	-70,521	-71,718	-63,925	-83,993	-102,800	-72,076	-48,110	-26,442	-14,819	0	0	0
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:
Depreciation
36,716	34,318	33,093	32,749	32,459	32,364	32,033	31,865	30,916	29,354	30,419	31,434	33,164	35,556	0	0	0	-	-	-	-	0	74,902	75,003	75,064	75,091	75,109	75,323	75,260	74,288	72,379	69,887	0	0	0
Amortization of operating lease right-of-use assets
12,718	12,764	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred drydocking costs
6,889	6,227	5,839	5,587	5,388	5,353	5,171	4,861	4,557	4,336	4,054	3,912	3,815	3,327	0	0	0	-	-	-	-	0	2,185	1,943	1,737	1,731	1,982	2,265	2,614	2,857	2,979	3,196	0	0	0
Amortization of debt discount and debt issuance costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred drydocking costs
6,889	6,227	5,839	5,587	5,388	5,353	5,171	4,861	4,557	4,336	0	0	0	-	-	-	-	-	-	-	-	-	2,185	1,943	1,737	1,731	1,982	2,265	2,614	2,857	2,979	3,196	0	0	0
Amortization of debt discount and debt issuance costs
-	-	-	-	-	-	-	3,996	4,973	5,927	5,998	6,634	5,668	4,532	0	0	0	-	-	-	-	0	7,973	8,032	8,385	8,375	7,482	6,542	5,586	4,586	4,314	4,172	0	0	0
Loss on debt extinguishment
0	-2,268	-2,268	-2,268	-2,268	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discount on Exit Facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of fair value below contract value of time charter acquired
-	-	-	-	-	-681	-681	-681	-682	-716	-751	-785	-820	-661	0	0	0	-	-	-	-	0	-	-10,280	-11,476	-12,616	-13,822	-4,770	0	0	0	-	-	-	-
Amortization of fair value below contract value of time charter acquired
-	-	-	-	-	-681	-681	-681	-682	-716	0	0	0	-	-	-	-	-	-	-	-	-	-	-10,280	-11,476	-12,616	-13,822	-4,770	0	0	0	-	-	-	-
Paid-in-Kind Interest
-	-	-	-	-	-	-	-	-	-	10,294	10,181	9,662	7,327	0	0	0	-	-	-	-	0	29,341	29,177	0	0	0	-	-	-	-	-	-	-	-
Gain on sale of vessels
1,872	5,978	6,038	5,303	4,441	335	375	341	2,042	2,134	2,100	2,197	-9	-101	0	0	0	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of fair value below contract value of time charter acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Payment-in-kind interest on debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Net unrealized gain on fair value of derivatives
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-246	505	436	939	373	0	0	0
Vessel impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	129,027	57,039	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized loss from sale of investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-18,832	0	0	0	-	-	-	0	-	-	-	-
Net unrealized loss/(gain) on fair value of derivatives
-	-	-	-	-	-	-	-	-	-55	111	-1,030	293	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on time charter agreement termination
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	29,033	0	0	0	-	-	-	0	-	-	-	-
Allowance for accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	5,351	576	563	-1,337	1,811	0	0	0
Stock-based compensation expense
4,217	4,826	5,014	5,959	7,142	9,207	9,760	10,010	10,078	8,738	8,272	5,186	3,550	2,206	0	0	0	-	-	-	-	0	3,188	4,864	6,689	8,257	9,247	9,373	8,960	8,849	8,252	8,907	0	0	0
Drydocking expenditures
14,552	11,903	7,849	8,197	9,743	8,323	6,342	6,869	3,660	2,579	2,746	1,992	2,438	3,688	0	0	0	-	-	-	-	0	3,826	3,637	2,387	1,364	1,248	1,094	1,820	2,693	3,119	2,809	0	0	0
Changes in operating assets and liabilities:
Accounts payable
-1,695	3,199	-2,243	-4,071	916	993	1,676	282	2,129	335	773	-55	-4,525	-1,081	0	0	0	-	-	-	-	0	-3,524	-3,812	1,464	1,606	-2,361	-407	74	-1,834	1,485	4,553	0	0	0
Drydocking expenditures
14,552	11,903	7,849	8,197	9,743	8,323	6,342	6,869	3,660	2,579	0	0	0	-	-	-	-	-	-	-	-	-	3,826	3,637	2,387	1,364	1,248	1,094	1,820	2,693	3,119	2,809	0	0	0
Accounts receivable
2,837	6	2,679	6,891	5,925	3,465	5,984	1,810	5,209	12,156	3,704	5,698	1,670	-1,986	0	0	0	-	-	-	-	0	2,966	1,893	-2,650	2,735	-298	694	-9,673	-8,438	-7,496	1,405	0	0	0
Accrued interest
806	3,585	1,710	1,026	1,078	-54	5,911	1,719	5,912	1,761	40	13	-327	-372	0	0	0	-	-	-	-	0	-895	-2,276	-1,685	-2,071	-1,187	-384	-2,892	-1,935	-3,844	-4,526	0	0	0
Inventories
2,223	-313	1,007	1,083	-484	2,024	674	-659	4,894	3,236	5,606	5,723	3,131	5,302	0	0	0	-	-	-	-	0	-5,984	-2,472	1,297	-766	1,102	999	2,535	4,052	6,274	7,893	0	0	0
Operating lease liabilities short and long-term
-13,222	-13,475	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Derivative asset, other current and non-current assets
3,672	-1,503	664	-1,011	-998	207	-1,031	-460	26	331	2,092	50	578	26	0	0	0	-	-	-	-	0	4,500	2,923	4,218	-1,447	-842	-2,003	-2,090	1,586	1,462	2,527	0	0	0
Other accrued liabilities and other non-current liabilities
2,813	4,261	3,080	5,747	1,577	-1,125	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses
78	-4	1,195	1,180	278	1,625	147	-267	1,071	-83	-516	253	-42	-138	0	0	0	-	-	-	-	0	3,562	1,956	67	-927	850	-425	-397	2,520	-1,620	510	0	0	0
Other accrued and non-current liabilities
-	-	-	-	-	-	-	-	-	-	-1,844	-3,148	-3,229	528	0	0	0	-	-	-	-	0	-2,337	-7,286	-3,288	-1,818	-2,665	1,666	-2,231	1,516	2,069	5,972	0	0	0
Unearned revenue
-1,941	-2,234	-1,892	-1,544	-131	590	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unearned revenue
-1,941	-2,234	-1,892	-1,544	-131	590	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-3,766	-3,924	-4,082	-4,271	-629	-938	-899	-559	-448	0	0	0
Unearned revenue
-	-	-	-	-	-	-	-	-	-	-	0	5,016	-	0	0	0	-	-	-	-	0	906	1,632	200	-181	355	-2,024	-1,673	-2,905	-5,792	-311	0	0	0
Net cash used in operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in)/provided by operating activities
-2,680	21,685	25,934	29,143	42,539	45,470	26,969	20,013	6,845	-10,037	0	0	0	-	-	-	-	-	-	-	-	0	-1,437	-354	1,790	7,754	3,373	4,777	23,832	30,387	47,157	58,296	0	0	0
Cash flows from investing activities:
Purchase of vessel and vessel improvements
125,478	143,477	102,726	39,580	40,028	41,404	20,439	73,370	176,944	174,400	193,665	140,954	37,045	19,860	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of scrubbers and ballast water systems
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from hull and machinery insurance claims
7,415	3,845	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance paid for purchase of scrubbers and ballast water systems
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from redemption of short-term investment
-	-	-	-	-	4,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of vessels
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance paid for purchase of vessel
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds/(purchase) of short-term investment
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of short-term investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	4,925	0	0	0	-	-	-	0	-	-	-	-
Proceeds from sale of vessels
16,740	29,560	29,626	33,457	33,365	20,545	28,187	25,174	20,251	26,042	18,400	17,820	18,791	13,001	0	0	0	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Vessels and vessel improvements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	92	92	92	53	58	0	0	0	-	-	-	0
Purchase of other fixed assets
365	351	351	422	296	272	154	35	141	189	287	343	211	560	0	0	0	-	-	-	-	0	0	-	-	-	-	33	62	168	300	356	0	0	0
Changes in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-394	-1,645	-1,655	-514	-119	0	0	0
Net cash (used in)/provided by investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-166,726	-168,618	-128,075	-43,518	-32,586	-31,013	-2,791	-29,570	-148,716	-155,249	0	0	0	-	-	-	-	-	-	-	-	0	2,346	2,317	2,282	98	-93	294	-22,849	-55,750	-114,582	-157,786	0	0	0
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
-	-	-	-	-	-	-	-	-	96,030	96,030	181,730	181,730	85,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Financing costs paid to Lender
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Debt issuance costs paid to lenders on New Ultraco Debt Facility
-	-	-	-	-	-	-	-	3,886	-	619	1,325	746	3,086	0	0	0	-	-	-	-	0	-	48	2,453	5,063	11,836	11,788	0	0	0	-	-	-	-
Cash used to settle net share equity awards
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash used to settle net share equity awards
-	-	-	-	-	-	-	0	-543	-	0	0	0	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financing costs
0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash used to settle net share equity awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net cash provided by financing activities
161,631	127,899	111,619	2,881	12,073	7,380	3,067	17,754	54,001	145,021	0	0	0	-	-	-	-	-	-	-	-	0	-	-400	-2,706	-5,380	-12,075	-12,027	-9,698	-8,619	-2,222	-4,556	0	0	0
Net increase in cash, cash equivalents and Restricted cash
-7,775	-19,033	9,478	-11,493	22,025	21,837	27,246	8,197	-87,870	-20,265	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net increase/(decrease) in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	0	556	1,562	1,366	2,472	-8,796	-6,955	-8,714	-33,982	-69,648	-104,046	0	0	0
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the period for interest
27,518	23,208	23,363	23,178	23,137	23,884	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
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
20,300	16,380	14,669	14,778	10,550	5,801	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accruals for debt issuance costs included in Other accrued liabilities
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
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.
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
New First Lien Facility
Repayment of revolver loan under New First Lien Facility
0	5,000	5,000	5,000	5,000	5,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from debt
-5,000	0	5,000	5,000	5,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Ultraco Debt Facility
Proceeds from debt
-153,440	0	12,800	12,800	166,240	21,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
0	82,600	82,600	82,600	82,600	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
New Ultraco Debt Facility
Proceeds from debt
232,760	187,760	153,440	153,440	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of long-term debt
20,959	15,146	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs paid to lenders on New Ultraco Debt Facility
0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Convertible Bond Debt
Proceeds from debt
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-