Overseas shipholding group inc (OSG)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Cash Flows from Operating Activities:
Net income

8,675

13,489

55,978

-293,614

283,960

-152,273

-638,230

-480,114

-201,363

-122,542

-

-

Loss from discontinued operations

-

-

0

-292,555

203,395

-9,067

-

-

-

-

-

-

Net income/(loss) from continuing operations

-

-

55,978

-1,059

80,565

-143,206

-

-

-

-

-

-

Items included in net income not affecting cash flows:
Net (loss)/income

-

-

-

-

-

-

-

-

-

-

71,147

305,186

Depreciation and amortization

52,499

50,512

58,673

89,563

76,851

67,547

176,276

201,284

179,721

170,670

172,404

-

Deferred payment obligations on charters-in

-

-

-

-

590

3,232

5,446

5,600

5,399

4,931

4,644

-

Reorganization items, non-cash

-

-

-105

5,198

-50

22,402

261,221

34,676

0

0

-

-

(Gain)/loss on sublease contracts

-

-

-

-

-

-

-

-895

0

-

-

-

Loss on sublease contracts

-

-

-

-

-

-

-

-

-

0

-

-

Other - net

-

-

-3,282

-2,268

-1,971

-2,032

-2,285

-7,133

-4,060

-5,717

-8,966

-

Items included in net income related to investing and financing activities:
Loss on repurchases and extinguishment of debt

-72

-3,399

-3,237

-2,988

0

-

-

-

-

-

-

-

Loss on sale or write-down of securities and investments - net

-

-

-

-

-

-

-198

-3,166

313

-753

-3,287

-

Deferred payment obligations on charters-in

-

-

-

-

-

-

-

-

-

-

-

3,732

Other - net

-

-

-

-

-

-

-

-

-

-

-

4,272

(Gain)/loss on sale of securities and other investments - net

-

-

-

-

-

-

-

-

-

-

-

1,284

Loss on disposal of vessels and other property, including impairments, net

-106

877

-7,322

-127

-207

578

1,182

8,023

2,060

2,222

139,986

77,970

Bad debt expense

4,300

-

-

-

-

-

-

-

-

-

-

-

Goodwill impairment charge

-

-

-

-

-

-

-

-

-

-

-

62,874

Vessel impairment charges

-

-

5,878

104,405

0

-

366,439

279,382

0

28,783

12,500

137,708

Goodwill and other intangibles write-down

-

-

-

-

-

-

16,214

0

0

-

-

-

Amortization of deferred gain on sale and leasebacks

-

-

-

-

-

-

-

5,905

-

-

-

-

Amortization of deferred gain on sale and leasebacks

-

-

-

-

-

-

-

-

29,825

41,624

44,946

-

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

-

189,163

Amortization of deferred gain on sale and leasebacks

-

-

-

-

-

-

-

-

-

-

-

47,971

Amortization of debt discount and other deferred financing costs

1,965

4,069

5,167

6,005

5,154

1,964

-

3,198

3,576

4,081

1,983

4,624

Deferred financing costs write-off

-

-

-

-

-

-

-

12,540

0

0

-

-

Deferred financing costs write-off

-

-

-

-

-

-

-

-

-

0

-

-

Compensation relating to restricted stock awards and stock option grants

1,662

3,785

2,388

7,441

3,580

554

-131

7,910

10,069

11,940

14,214

12,674

Dedesignation of interest rate swap agreements

-

-

-

-

-

-

-

1,866

0

0

-

-

Deferred income tax benefit

-991

-18,794

-59,047

-67,394

-69,564

-82,432

-7,398

-29,751

-29,636

-17,114

3,698

-26,136

Interest on finance lease liabilities

1,462

-

-

-

-

-

-

-

-

-

-

-

Non-cash operating lease expense

90,922

-

-

-

-

-

-

-

-

-

-

-

Other - net

-

1,961

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt, net

-

-

-

-

-

-

-

-

-375

0

-

-

Unrealized gains on forward freight agreements and bunker swaps

-

-

-

-

-

-

-

156

-427

345

460

-2,137

Distributed earnings of affiliated companies

14

-200

91

-132

399

-108

35,826

22,771

7,628

-7,388

-18,445

6,445

Distributions from INSW

-

-

0

202,000

200,000

53,225

-

-

-

-

-

-

Payments for drydocking

12,278

12,902

8,390

6,844

41,323

25,740

22,024

45,990

47,360

20,015

30,125

-53,560

SEC payment, bankruptcy and IRS claim payments

-

-

5,000

7,136

8,343

289,899

-

0

-

-

-

-

Deferred financing costs paid for loan modification

-

-

-

-

4,220

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Operating lease liabilities

-83,608

-

-

-

-

-

-

-

-

-

-

-

Decrease in receivables

-2,549

-6,531

753

16,794

-6,502

-7,979

-33,453

30,324

7,468

18,586

-84,821

-

Decrease in income tax recoverable

601

4,797

246

-323

-54,637

51,904

3,952

-

-

-

-

-

Security deposits with vendors and lenders

-

-

-

-

-

10,369

-

-10,344

0

0

-

-

Increase in deferred revenue

4,848

1,514

-4,639

63

-3,034

-2,989

-

-27,104

0

0

-

-

Changes in operating assets and liabilities, net

1,881

-2,835

-

-

-

-

-

-

-

-

-

-

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

-

-

-20,035

7,574

-26,791

15,854

-10,893

69,933

60,965

-39,529

37,529

-

Change in restricted cash

-

-

-

-

-42,502

53,085

-

0

-

-

-

0

Decrease/(increase) in receivables

-

-

-

-

-

-

-

-

-

-

-

16,043

Net change in prepaid items and accounts payable, accrued expenses and other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-114,918

Net cash provided by operating activities

73,449

45,255

-

-

-

-

-

-

-

-27,714

218,121

376,337

Net cash provided by operating activities

-

-

43,619

328,860

276,333

-411,482

141,896

-32,899

-61,061

-

-

-

Expenditures for Vessels, Including Vessel Improvements

-

-

0

0

-

-

-

-

-

-

-

-

Cash Flows from Investing Activities:
Proceeds from disposals of vessels and other property

-

-

1,055

0

0

-

-

-

-

-

-

-

Long-term investments

-

-

-

-

-

-

-

-

13,708

0

-

-

Short-term investments

-

-

-

-

-

-

-

-

-

20,048

-

-

Short-term investments

-

-

-

-

-

-

-

-

-

-

50,000

0

Disposal of short-term investments

-

-

-

-

-

-

-

-

20,047

50,000

-

-

Proceeds from sale of marketable securities and investments

-

-

-

-

-

-

459

13,000

3,491

253

159

-

Purchases of marketable securities

-

-

-

-

-

-

-

-

-

-

-

15,112

Proceeds from sales of investments

-

-

-

-

-

-

-

-

-

-

-

7,208

Expenditures for vessels and vessel improvements

118,055

21,807

-

-

-

10,958

36,377

52,604

187,510

421,363

595,086

-

Expenditures for other property

4,459

386

11

666

75

489

2,181

2,862

6,736

2,656

4,247

10,809

Withdrawals from Capital Construction Fund

-

-

-

-

-

-

-

-

-

-40,727

-

105,700

Withdrawals from Capital Construction Fund

-

-

-

-

-

-

-

-

-

-

8,265

-

Expenditures for vessels

-

-

-

-

-

-

-

-

-

-

-

-608,271

Proceeds from disposal of vessels and other property

3,404

2,367

-

-

-

-

485

12,886

19,628

14,888

300,894

461,872

Deposit for vessel purchases

-10,800

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-129,910

-19,826

-

-

-

-

-

-

-

-439,661

-372,766

-77,022

Contributions to INSW

-

-

-

-

-

11,260

-

-

1,650

126,904

107,690

37,871

Repayments of advances from affiliated companies

-

-

-

-

-

-

2,097

6,608

8,733

25,823

93,203

-

Shipyard contract termination payments

-

-

-

-

-

-

-

-

-

1,973

20,452

-

Distributions from affiliated companies

-

-

-

-

-

-

-

-

-

-

-

-20,148

Shipyard contract termination payments

-

-

-

-

-

-

-

-

-

-

-

0

Other net

-

-

-

-

54

-833

-979

-563

-3,532

-1,592

-2,188

-113

Net cash provided by investing activities

-

-

1,044

-666

42,373

-74,959

-34,538

-22,409

-154,173

-

-

-

Cash Flows from Financing Activities:
Payments on debt

23,866

28,166

-

-

-

-

-

-

-

-

-

-

Proceeds from Debt, Net of Issuance Costs

-

-

0

0

-

-

-

-

-

-

-

-

Payments on debt, including adequate protection payments

-

-

0

119,343

3,633

-

-

-

-

-

-

-

Payments on debt of INSW guaranteed by OSG

-

-

-

-

-

477,835

-

-

-

-

-

-

Decrease/(increase) in restricted cash

-

-

-

-

-

-

-

-

-

7,945

-7,945

-

Purchases of treasury stock

-

-

-

-

-

162

42

307

920

1,718

1,514

258,747

Tax withholding on share-based awards

294

569

1,157

0

0

-

-

-

-

-

-

-

Payments on debt

-

-

0

-54,345

-6,030

-1,338,618

-12,731

-63,990

-104,774

-510,409

-

-

Extinguishment and repurchases of debt

3,271

427,123

84,170

120,224

326,051

-

-

-

-

-

-

-

Purchase of OSG America L.P. units

-

-

-

-

-

-

-

-

-

-

71,792

-

Purchase of OSG America L.P. units

-

-

-

-

-

-

-

-

-

-

-

-2,802

Issuance of common stock, net of issuance costs

-

-

-

-

-

1,510,000

-

0

-

158,266

-

-

Payments on debt

-

-

-

-

-

-

-

-

-

-

135,136

220,165

Cash dividends paid

-

-

0

31,910

0

-

-

-

46,875

51,884

47,128

44,856

Issuance of debt, net of issuance and deferred financing costs

-

-

-

-

-

576,058

-

572,000

168,393

643,080

558,156

77,812

Issuance of debt, net of issuance and deferred financing costs

47,824

344,801

-

-

-

-

-

-

-

-

-

-

Payments on principal portion of finance lease liabilities

2,896

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by/(used in) financing activities

17,497

-111,057

-

-

-

-

-

-

-

246,334

285,726

-458,126

Issuance of common stock upon exercise of stock options

-

-

-

-

-

-

-

70

638

1,054

580

970

Distributions from subsidiaries to noncontrolling interest owners

-

-

-

-

-

-

-

-

-

-

7,880

9,660

Other - net

-

-

-

-

-

-

-

-

-

-

-1,615

-678

Net cash used in financing activities

-

-

-85,327

-325,822

-335,714

269,443

-12,773

507,773

16,462

-

-

-

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

-38,964

-85,628

-40,664

2,372

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-

-

-

-

-17,008

-216,998

94,585

452,465

-198,772

-221,041

131,081

-158,811

Cash flows provided by operating activities

-

-

0

111,768

222,739

-253,295

-

-

-

-

-

-

Cash flows provided by investing activities

-

-

0

25,202

114,163

16,361

-

-

-

-

-

-

Cash flows used in financing activities

-

-

0

-355,687

-206,284

241,231

-

-

-

-

-

-

Net decrease in cash and cash equivalents from discontinued operations

-

-

0

-218,717

130,618

4,297

-

-

-

-

-

-