International seaways, inc. (INSW)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
Cash Flows from Operating Activities:
Net income

33,019

15,891

-11,095

-16,523

10,897

6,958

-47,786

-18,796

-29,316

-90,720

-21,816

-11,619

18,067

-57,757

-50,862

30,506

59,890

Items included in net income not affecting cash flows:
Depreciation and amortization

18,267

18,945

18,961

18,818

18,929

18,683

19,317

16,804

17,624

20,610

20,528

19,099

18,616

19,403

20,376

20,025

20,081

Amortization of debt discount and other deferred financing costs

983

1,547

1,813

1,795

1,765

1,778

1,783

1,401

1,250

1,264

1,229

1,951

1,979

1,991

1,531

1,485

1,636

Deferred financing costs write-off

12,501

-

-

-

-

-

-

-

-

-

-

-

-

0

2,368

291

2,438

Stock compensation, non-cash

1,206

1,366

1,091

1,060

761

959

678

896

629

1,075

1,000

993

740

684

806

790

561

Earnings of affiliated companies

3,851

5,321

8,578

7,915

8,452

6,236

5,417

9,123

8,425

9,039

13,145

13,807

13,436

-18,927

12,513

12,474

11,756

Change in fair value of interest rate collar recorded through earnings

-1,271

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allocated reorganization items, non-cash

-

-

-

-

-

-

-

-

-

-

-

-

-

233

3,849

520

-4,471

Other - net

-293

-923

-311

-191

-36

-

-

-

-

1

-2

1

-131

-

-

-

-19

Items included in net income related to investing and financing activities:
Gain on disposal of vessels and other property, net

2,804

-280

1,472

-1,548

48

-817

-941

7,688

-6,573

-

-

-

-

-132

0

0

171

Discount on repurchase of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

3,755

Loss on extinguishment of debt

-992

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash distributions from affiliated companies

3,250

3,641

3,686

4,478

2,050

3,855

3,904

29,651

6,212

-

-

-

-

10,946

419

413

388

Payments for drydocking

7,565

6,007

2,661

6,440

4,438

552

1,267

1,452

1,249

1,609

3,927

8,834

7,026

4,325

2,419

124

2,390

Insurance claims proceeds related to vessel operations

239

1,212

327

85

555

311

1,597

2,467

1,061

959

1,000

0

5

-

-

-

-

Changes in operating assets and liabilities:
Increase in receivables

20,249

8,387

998

-21,358

1,195

20,677

11,538

11,710

-7,489

-576

-3,886

-4,725

457

15,972

1,232

-10,265

-14,972

Decrease in payable to OSG

-

-

-

-

-

-

-

-

-

-

290

-60

-628

-8,406

1,853

2,138

-6,252

Decrease in deferred revenue

-

-

-

-

-

10

0

15

-918

-770

564

-2,632

-1,892

-

-

-

-

Net change in inventories, prepaid expenses and other current assets and accounts payable, accrued expense, and other current and long-term liabilities

766

-1,834

-2,240

1,347

3,131

-21,915

12,763

7,363

-5,384

-4,336

-2,389

-4,417

-4,826

-5,698

2,841

-1,410

-806

Net cash provided by operating activities

38,318

44,130

-422

19,787

23,991

-14,327

-8,276

14,577

-4,454

6,305

-2,704

2,521

11,273

-2,214

8,384

52,406

70,384

Cash Flows from Investing Activities:
Expenditures for vessels and vessel improvements

28,914

26,810

4,441

2,394

2,962

13,731

6,290

127,014

1,911

55,166

99,786

18,186

397

-

-

-

-

Proceeds from disposal of vessels and other property

13,601

5

6,672

9,172

-82

36,406

6,382

69,074

57,430

-

-

-

-

-

-

-

-

Expenditures for other property

208

168

105

93

208

763

13

194

126

0

32

348

26

835

58

10

4

Investments in and advances to affiliated companies, net

-364

-234

-1,670

44

-478

-788

-925

-1,097

-869

-1,149

1,776

30

74

0

0

-67

1,054

Repayments of advances from affiliated companies

-

-641

-436

-178

5,450

4,793

2,845

90,654

2,488

-

-

-

-

-

-

-

-

Net cash (used in)/provided by investing activities

-15,157

95,375

3,360

6,463

2,676

27,493

3,849

33,617

58,750

-35,534

-90,600

-10,167

-497

-23,387

-625

27,522

-1,058

Cash Flows from Financing Activities:
Issuance of debt, net of issuance and deferred financing costs

362,989

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Extinguishment of debt

382,699

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on debt

30,895

11,380

18,879

12,888

6,764

19,014

9,826

76,208

-33,438

106,529

-50,000

0

-1,546

-24,898

0

-63,596

-1,571

Cash dividends paid

1,729

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

76,546

-53,193

65,167

Repurchases of common stock

10,012

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividend payments to OSG

-

-

-

-

-

-

-

-

-

-

-

-

-

0

100,000

30,000

72,000

Cash paid to tax authority upon vesting of stock-based compensation

705

0

10

210

149

0

13

119

278

88

20

77

164

0

0

0

26

Other - net

-26

-12

-19

-15

-243

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-63,077

-113,484

-29,008

-13,113

-7,156

-19,382

-14,566

3,473

-33,716

26,445

45,464

27,809

-1,710

-1,545

-176,546

-40,403

-138,764

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

-39,916

26,021

-26,070

13,137

19,511

-6,216

-18,993

51,667

20,580

-2,784

-47,840

20,163

9,066

-27,146

-168,787

39,525

-69,438