XML 67 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Equity (USD $)
In Thousands, unless otherwise specified
Predecessor
Genco Shipping & Trading Limited Shareholders' Equity
Predecessor
Common Stock
Predecessor
Additional Paid-in Capital
Predecessor
Accumulated Other Comprehensive (Loss) Income
Predecessor
Retained (Deficit) Earnings
Predecessor
Noncontrolling Interest
Predecessor
Genco Shipping & Trading Limited Shareholders' Equity
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive (Loss) Income
Retained (Deficit) Earnings
Noncontrolling Interest
Total
Balance at Dec. 31, 2012 $ 1,066,296 $ 443 $ 863,303 $ (11,841) $ 214,391 $ 194,911 $ 1,261,207              
Increase (Decrease) in Shareholders' Equity                            
Net (loss) income (128,566)       (128,566) (9,300) (137,866)              
Unrealized (loss) gain on investments 20,841     20,841     20,841              
Unrealized gain on cash flow hedges, net 6,763     6,763     6,763              
Issuance of shares of nonvested stock, less forfeitures   2 (2)                      
Nonvested stock amortization 2,314   2,314     1,156 3,470              
Issuance of common stock of Baltic Trading Limited (16,568)   (16,568)     97,609 81,041              
Cash dividends paid by Baltic Trading Limited (4)       (4) (580) (584)              
Vesting of restricted shares issued by Baltic Trading Limited (26)   (26)     26                
Balance at Sep. 30, 2013 951,050 445 849,021 15,763 85,821 283,822 1,234,872              
Balance at Jun. 30, 2013                            
Increase (Decrease) in Shareholders' Equity                            
Net (loss) income             (36,976)              
Unrealized (loss) gain on investments             14,514              
Unrealized gain on cash flow hedges, net             2,076              
Balance at Sep. 30, 2013             1,234,872              
Balance at Dec. 31, 2013 967,469 445 846,658 53,722 66,644 341,336 1,308,805              
Increase (Decrease) in Shareholders' Equity                            
Net (loss) income             784,557              
Net loss, exclusive of net gain from fresh-start adjustments (124,107)       (124,107) (8,734) (132,841)              
Unrealized (loss) gain on investments (25,766)     (25,766)     (25,766)              
Unrealized gain on cash flow hedges, net 2,401     2,401     2,401              
Nonvested stock amortization 2,403   2,403     1,949 4,352              
Cash dividends paid by Baltic Trading Limited (5)   (5)     (2,041) (2,046)              
Vesting of restricted shares issued by Baltic Trading Limited 74   74     (74)                
Subtotal - July 9, 2014 (Predecessor) 822,469 445 849,130 30,357 (57,463) 332,436 1,154,905             1,512,069
Net gain from fresh-start adjustments (see Note 20) 917,399       917,399   917,399              
Balance at Jul. 09, 2014 1,739,868 445 849,130 30,357 859,936 332,436 2,072,304              
Balance at Jun. 30, 2014                            
Increase (Decrease) in Shareholders' Equity                            
Net (loss) income             892,351              
Unrealized (loss) gain on investments             2,186              
Unrealized gain on cash flow hedges, net             95              
Subtotal - July 9, 2014 (Predecessor)   445         1,154,905             1,512,069
Balance at Jul. 09, 2014   445         2,072,304              
Balance at Jul. 08, 2014               1,233,000 603 1,232,397     279,069 1,512,069
Increase (Decrease) in Shareholders' Equity                            
Cancellation of Predecessor common stock               (849,575) (445) (849,130)       (849,575)
Elimination of Predecessor accumulated deficit and accumulated other comprehensive income               (890,293)     (30,357) (859,936)   (890,293)
Elimination of Predecessor non-controlling interest                         (332,436) (332,436)
Issuance of new equity interests in connection with emergence from Chapter 11, including $100 rights offering               1,233,000 603 1,232,397       1,233,000
Revaluation of non-controlling interest                         279,069 279,069
Subtotal - July 9, 2014 (Predecessor)   445                       1,512,069
Balance at Jul. 09, 2014   445           1,233,000 603 1,232,397     279,069 1,512,069
Increase (Decrease) in Shareholders' Equity                            
Net (loss) income               (18,290)       (18,290) (4,272) (22,562)
Unrealized (loss) gain on investments               (13,341)     (13,341)     (13,341)
Issuance of shares of nonvested stock, less forfeitures                 11 (11)        
Nonvested stock amortization               7,054   7,054     818 7,872
Cash dividends paid by Baltic Trading Limited               (1)   (1)     (511) (512)
Balance at Sep. 30, 2014               $ 1,208,422 $ 614 $ 1,239,439 $ (13,341) $ (18,290) $ 275,104 $ 1,483,526