Safe bulkers, inc. (SB)
CashFlow / Yearly
Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash Flows from Operating Activities:
Net loss

-84,679

-55,966

-47,944

14,634

83,257

96,120

89,734

109,647

-

Adjustments to reconcile net loss to net cash provided by operating activities:
Net income

-

-

-

-

-

-

-

-

165,410

Depreciation

51,424

49,485

47,133

43,084

37,394

32,250

23,637

19,673

13,893

Loss on sale of assets

-120

-2,750

0

0

-

-

-

15,199

-

Gain on asset purchase cancellation

-

-

-

3,633

0

0

-

-

-

Impairment loss

91,293

17,163

22,826

0

0

-

-

-

-

Gain on debt extinguishment

8,189

0

1,111

0

0

-

-

-

-

Other non cash items

373

0

1,432

-

-

-

-

-

-

Loss from inventory valuation

-

-

-

4,001

0

0

-

-

-

Loss on asset purchase cancellations

-

-

-

-

-

-

-

-

20,395

Amortization and write-off of deferred finance charges

2,457

3,063

2,793

1,472

1,252

1,226

653

266

106

Unrealized gain on derivatives

146

411

606

2,137

6,329

2,798

-263

4,508

3,729

Unrealized foreign exchange gain

244

0

0

-

-

-

-

326

1,028

Share based compensation

120

120

120

120

120

120

120

120

60

Change in:
Accounts receivable

2,373

1,695

2,010

-42

-675

-303

4,265

-620

1,377

Due from Manager

-25

-345

946

0

0

-24

24

-

-

Due from Manager

-

-

-

-

-

-

-

0

-112

Inventories

-947

-238

-4,341

2,586

6,700

3,247

1,236

172

56

Accrued revenue

1,765

90

341

664

-646

646

0

-1,693

-2,245

Prepaid expenses and other current assets

-293

340

-36

-190

-12

575

452

37

408

Due to Manager

0

0

-24

-283

234

73

-449

-

-

Due to Manager

-

-

-

-

-

-

-

430

19

Trade accounts payable

-486

-1,679

1,736

-997

950

1,878

-287

-1,198

1,093

Accrued liabilities

-569

411

-269

192

-2,595

-255

547

-1,523

1,396

Unearned revenue

1,500

84

-1,643

-9,703

-8,322

-19,408

-1,052

8,661

13,207

Net Cash Provided by Operating Activities

50,101

13,478

25,523

-

-

-

-

118,147

211,338

Net Cash Provided by Operating Activities

-

-

-

43,732

100,594

105,065

107,189

-

-

Cash Flows from Investing Activities:
Vessel advances

59,943

58,373

123,541

146,300

118,894

136,845

160,969

192,418

131,474

Proceeds from asset purchase cancellation

-

-

-

36,320

0

0

-

-

-

Proceeds from sale of assets

20,510

29,000

0

0

-

-

-

32,168

-

Maturity of investment

-

-

-

50,000

0

0

-

-

-

Acquisition of long term investments

-

-

-

-

-

-

-

-

50,000

Increase in restricted cash

-

-

-

13,779

6,250

23,300

0

650

6,405

Restricted cash released

-

-

-

6,750

24,800

2,000

0

6,382

32,629

Increase in bank time deposits

37,635

51,452

1,500

0

0

-

-

86,548

78,147

Maturity of bank time deposits

37,478

40,952

0

0

-

-

35,080

109,357

41,534

Net Cash Used in Investing Activities

-39,590

-39,873

-125,041

-

-

-

-

-131,709

-191,863

Net Cash (Used in)/Provided by Investing Activities

-

-

-

-67,009

-100,344

-158,145

-125,889

-

-

Cash Flows from Financing Activities:
Proceeds from long-term debt

115,260

64,500

446,896

93,925

16,000

312,630

84,000

74,500

42,000

Principal payments of long-term debt

122,805

148,529

243,659

132,652

123,372

181,254

94,453

50,992

38,026

Dividends paid

12,316

14,049

17,539

25,915

17,742

37,463

41,782

37,820

32,706

Payment of deferred financing costs

1,868

100

5,018

2,267

132

1,467

5,916

519

10

Proceeds on issuance of common stock

0

16,494

0

0

48,255

35,505

39,637

74,967

-

Payment of common stock offering expenses

18

361

0

98

177

268

-

-

-

Repurchase of common stock

0

120

0

0

-

-

-

-

-

Proceeds on issuance of preferred stock

-

-

-

133,387

39,328

0

0

-

-

Repurchase of preferred stock

114

1,710

590

0

0

-

-

-

-

Tender offer redemption of preferred stock

24,890

0

0

-

-

-

-

-

-

Payment of tender offer expenses

309

0

0

-

-

-

-

-

-

Payment of preferred stock offering expenses

-

-

-

463

463

0

-

-

-

Net Cash Provided by/(Used in) Financing Activities

-

-

-

65,917

-38,303

127,683

-18,514

-

-

Net Cash Provided by/(Used in) Financing Activities

-47,060

-83,875

180,090

-

-

-

-

60,136

-28,742

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

-36,549

-110,270

80,572

-

-

-

-

-

-

Effect of exchange rate changes on cash, cash equivalents and restricted cash

244

0

0

-

-

-

-

-

-

Supplemental cash flow information:
Cash paid for interest (excluding capitalized interest):

22,682

19,829

11,932

8,594

9,263

8,534

5,050

6,414

13,695

Non cash Investing And Financing Activities
Unpaid financing fees

85

18

753

-

-

-

-

-

-

Unpaid capital expenditure requirments

210

3,500

19

-

-

-

-

-

-

Reconciliation of Cash, cash equivalents and restricted cash:
Net increase/(decrease) in cash and cash equivalents

-

-

-

42,640

-38,053

74,603

-37,214

46,574

-9,267

Effect of exchange rate changes on cash

-

-

-

-

-

-

-

326

-

Non cash Investing and Financing activities

-

-

-

506

194

-

-

-

-

Non cash Investing and Financing activities(represent advances and capitalized interest for newbuild Hull J0131 for 2012 and other minor non cash items for 2013 and 2014)

-

-

-

-

-

32,412

0

0

-