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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Dec. 31, 2014
Jul. 09, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:        
Net loss $ (213,358)      
Adjustments to reconcile net loss to net cash used in operating activities:        
Goodwill impairment 166,067      
Depreciation and amortization 36,714      
Amortization of deferred financing costs 845      
Amortization of time charters acquired 450      
Amortization of nonvested stock compensation expense 20,405      
Change in assets and liabilities:        
(Increase) decrease in due from charterers (1,545)      
Decrease (increase) in prepaid expenses and other current assets 8,343      
(Decrease) increase in accounts payable and accrued expenses (39,170)      
Increase (decrease) in deferred revenue 400      
Increase in lease obligations 390      
Deferred drydock costs incurred (6,376)      
Net cash used in operating activities (26,835)      
Cash flows from investing activities:        
Purchase of vessels, including deposits (24,473)      
Purchase of other fixed assets (208)      
Changes in deposits of restricted cash (19,420)      
Net cash used in investing activities (44,101)      
Cash flows from financing activities:        
Payment of dividend by subsidiary (1,025)      
Cash settlement of non-accredited Note holders (484)      
Payment of deferred financing costs (2,322)      
Net cash provided by (used in) financing activities 18,273      
Net (decrease) increase in cash and cash equivalents (52,663)      
Cash and cash equivalents at beginning of period 136,077      
Cash and cash equivalents at end of period 83,414 $ 136,077    
Predecessor        
Cash flows from operating activities:        
Net loss   (1,013,250) $ (157,021) $ (157,776)
Adjustments to reconcile net loss to net cash used in operating activities:        
Non-cash reorganization items and fresh start accounting adjustments, net   (880,408)    
Depreciation and amortization   75,952 140,743 139,063
Amortization of deferred financing costs   4,461 9,116 5,413
Amortization of time charters acquired   (68) (334) (746)
Amortization of discount on Convertible Senior Notes   1,592 4,963 4,537
Receipt of stock in lieu of cash payment     (100)  
Interest expense related to the de-designation of the interest rate swap   1,048    
Unrealized loss (gain) on derivative instruments     4 (100)
Amortization of nonvested stock compensation expense   4,352 4,482 5,864
Change in assets and liabilities:        
(Increase) decrease in due from charterers   1,047 (2,527) 1,974
Decrease (increase) in prepaid expenses and other current assets   (11,735) (919) (437)
(Decrease) increase in accounts payable and accrued expenses   32,534 2,765 (4,880)
Increase (decrease) in deferred revenue   (600) 273 (2,903)
Increase in lease obligations   195 143 1,324
Deferred drydock costs incurred   (9,253) (4,732) (10,167)
Net cash used in operating activities   (33,317) (3,144) (18,834)
Cash flows from investing activities:        
Purchase of vessels, including deposits   (29,995) (145,350) (1,155)
Purchase of other fixed assets   (415) (1,205) (2,114)
Changes in deposits of restricted cash   (125)   (400)
Net cash used in investing activities   (30,535) (146,555) (3,669)
Cash flows from financing activities:        
Repayments on the 2007 Credit Facility       (118,588)
Proceeds from Lines of Credit     1,000  
Payment of dividend by subsidiary   (2,046) (1,589) (4,081)
Proceeds from Rights Offering   100,000    
Proceeds from Issuance of Common Stock       50,721
Payment of common stock issuance costs       (847)
Proceeds from issuance of common stock by subsidiary     136,980  
Payment of common stock issuance costs by subsidiary   (111) (706)  
Payment of deferred financing costs   (4,515) (1,489) (4,085)
Net cash provided by (used in) financing activities   77,207 199,821 (132,865)
Net (decrease) increase in cash and cash equivalents   13,355 50,122 (155,368)
Cash and cash equivalents at beginning of period 136,077 122,722 72,600 227,968
Cash and cash equivalents at end of period   136,077 122,722 72,600
$100 Million Term Loan Facility        
Cash flows from financing activities:        
Repayments on Term Loan Facility (3,846)      
$100 Million Term Loan Facility | Predecessor        
Cash flows from financing activities:        
Repayments on Term Loan Facility   (3,846)   (15,385)
$253 Million Term Loan Facility        
Cash flows from financing activities:        
Repayments on Term Loan Facility (5,075)      
$253 Million Term Loan Facility | Predecessor        
Cash flows from financing activities:        
Repayments on Term Loan Facility   (10,150)   $ (40,600)
Baltic Trading $22 Million Term Loan Facility        
Cash flows from financing activities:        
Repayments on Term Loan Facility (750)      
Baltic Trading $22 Million Term Loan Facility | Predecessor        
Cash flows from financing activities:        
Repayments on Term Loan Facility   (750) (375)  
Proceeds from Term Loan Facility     22,000  
Baltic Trading $44 Million Term Loan Facility        
Cash flows from financing activities:        
Repayments on Term Loan Facility (1,375)      
Baltic Trading $44 Million Term Loan Facility | Predecessor        
Cash flows from financing activities:        
Repayments on Term Loan Facility   $ (1,375)    
Proceeds from Term Loan Facility     $ 44,000  
2014 Baltic Trading Term Loan Facility        
Cash flows from financing activities:        
Proceeds from Lines of Credit $ 33,150