Global ship lease, inc. (GSL)
CashFlow / Yearly
Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Class of Stock
Class of Stock
Series B Preferred Shares [Member]
Class A Common Stock [Member]
Debt Instrument
Debt Instrument, Name
10.0 % First Priority Secured Notes Due 2019 and 9.875 % First Priority Secured Notes Due 2022 [Member]
9.875 % First Priority Secured Notes Due 2022 [Member]
10.0 % First Priority Secured Notes Due 2019 [Member]
Cash Flows from Operating Activities
Net loss

-74,266

-65,095

-28,875

6,110

32,518

31,928

9,071

-3,971

42,374

Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities
Depreciation

37,981

42,805

44,859

41,059

40,385

40,343

40,131

40,051

37,307

Vessel impairment (note 4)

87,624

92,422

44,700

-

-

-

-

-

-

Gain on sale of vessels (note 4)

-

-

93

-

-

-

-

-

-

Gain on repurchase of secured notes (note 7)

-

2,865

-

-

-

-

-

-

-

Impairment charge (note 5)

-

-

-

-

-

-

13,645

17,082

-

Amortization of deferred financing costs (note 7)

7,772

3,622

3,374

5,732

1,386

1,250

1,101

1,106

3,108

Change in fair value of derivative instruments (note 12)

-

-

-

1,944

14,302

9,725

-881

-

-

Change in fair value of certain derivative instruments (note 14)

-

-

-

-

-

-

-

-15,322

17,928

Amortization of intangible liability

1,807

2,104

2,119

2,119

2,119

2,119

2,119

2,119

-

Settlements of derivative instruments which do not qualify for hedge accounting (note 12)

-

-

-

2,801

14,045

18,402

19,393

-

-

Amortization of intangible liability

-

-

-

-

-

-

-

-

-1,549

Settlements of hedges which do not qualify for hedge accounting (note 14)

-

-

-

-

-

-

-

16,727

13,121

Share based compensation (note 12)

272

283

75

177

360

460

565

980

2,513

(Increase) decrease in accounts receivable and other assets

441

-219

-334

-3,635

-3,836

810

-

-

6,510

(Increase) decrease in inventory

188

-57

160

553

-

-

-

-

-

Decrease (increase) in receivables and other assets

-

-

-

-

-

-

6,952

-1,020

-

(Decrease) increase in accounts payable and other liabilities

-3,030

-1,751

794

6,699

-1,772

3,958

-823

-992

2,165

Increase (decrease) in related party balances

1,138

738

-2,050

6,349

-

-

-

-

-

Increase in unearned revenue

238

1,144

334

462

-

-

-

-

-

Unrealized foreign exchange loss (gain)

-2

-26

14

11

-7

-11

21

15

-17

Net Cash Provided by Operating Activities

57,818

71,152

62,337

60,903

74,344

83,698

74,872

-

-

Cash Flows from Investing Activities
Cash paid for vessels (note 4)

-

-

108,187

55,162

-

-

-

-

-

Net proceeds from sale of vessels (note 4)

-

-254

9,513

-

-

-

-

-

-

Cash paid for vessel improvements

255

-

-

-

-

-

-

-

-

Settlements and termination of derivative instruments which do not qualify for hedge accounting (note 12)

-

-

-

22,146

14,045

18,402

-

-

-

Settlements of hedges which do not qualify for hedge accounting (note 15)

-

-

-

-

-

-

19,393

-

-

Net Cash Provided by Operating Activities

-

-

-

-

-

-

-

85,191

74,618

Settlements of hedges which do not qualify for hedge accounting (note 14)

-

-

-

-

-

-

-

16,727

13,121

Settlements of hedges which do not qualify for hedge accounting (note 16)

-

-

-

-

-

-

-

-

-13,121

Cash paid for other assets

8

6

3

7

2

-

59

12

-

Cash paid for intangible assets

-

-

-

-

43

-

97

-

-

Acquisition of vessel purchase options (note 5)

-

-

-

-

-

-

-

13,645

-

Cash paid for purchase of vessels, vessel prepayments and vessel deposits

-

-

-

-

-

-

-

1,670

83,639

Cash paid for drydockings

4,632

6,681

2,548

2,765

2,553

5,914

7,705

164

-

Net Cash Used in Investing Activities

-4,895

-6,941

-101,225

-80,080

-16,643

-24,316

-27,254

-

-

Cash Flows from Financing Activities
Repayment of credit facility (note 9)

-

-

-

-

-

57,936

-

-

-

Proceeds from drawdown of credit facilities (note 7)

54,800

-

75,000

-

-

-

-

-

-

Repayment of credit facilities (note 7)

63,575

9,500

1,925

366,366

59,310

-

-

-

-

Deferred financing costs incurred (note 7)

12,675

-

971

15,779

-

1,115

-

-

-

Costs relating to drydockings

-

-

-

-

-

-

-

-

1,706

Net Cash Used in Investing Activities

-

-

-

-

-

-

-

-32,218

-98,466

Proceeds from debt

-

-

-

-

-

-

-

-

57,000

Repayments of debt

-

-

-

-

-

-

49,157

55,423

10,908

Issuance costs of debt

-

-

-

-

-

-

1,007

-

5,426

Variation in restricted cash (note 11)

-

-

-

-3

-

-3,024

-

-

-

Net Cash (Used in) Provided by Financing Activities

-33,900

-63,559

59,184

27,936

-59,310

-59,051

-50,164

-

-

Dividend payments (note 15)

-

-

-

-

-

-

-

-

12,371

Net Cash Used in Financing Activities

-

-

-

-

-

-

-

-55,423

28,295

Net Increase in Cash and Cash Equivalents

19,023

652

20,296

8,759

-1,609

331

-2,546

-2,450

4,447

Supplemental Information
Total interest paid

-

-

-

26,298

18,782

20,105

19,518

22,368

-

Total interest paid

43,152

43,134

43,103

-

-

-

-

-

22,092

Total income tax paid

46

50

69

80

78

69

144

210

186