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CASH FLOW INFORMATION
3 Months Ended
Mar. 31, 2017
CASH FLOW INFORMATION  
CASH FLOW INFORMATION

3 - CASH FLOW INFORMATION

 

For the three months ended March 31, 2017, the Company had non-cash investing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in Accounts payable and accrued expenses consisting of $1 for the Purchase of vessels, including deposits and $31 for the Purchase of other fixed assets and $41 for the Net proceeds from sale of vessels. Additionally, during the three months ended March 31, 2017, the Company had non-cash investing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in Accounts payable and accrued expenses consisting of $153 associated with the Payment of Series A Preferred Stock issuance costs.

 

Professional fees and trustee fees in the amount of $0 were recognized by the Company in Reorganization items, net for the three months ended March 31, 2017 (refer to Note 15 —  Reorganizations Items, net).  During this period, $22 of professional fees and trustee fees were paid through March 31, 2017 and $3 is included in Accounts payable and accrued expenses as of March 31, 2017.

 

For the three months ended March 31, 2016, the Company had non-cash investing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in Accounts payable and accrued expenses consisting of $75 for the Purchase of vessels, including deposits and $9 for the Purchase of other fixed assets.  Additionally, for the three months ended March 31, 2016, the Company had non-cash investing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in Prepaid expenses and other current assets consisting of $68 associated with the sale of AFS securities.

 

Professional fees and trustee fees in the amount of $94 were recognized by the Company in Reorganization items, net for the three months ended March 31, 2016 (refer to Note 15 — Reorganizations Items, net).  During this period, $51 of professional fees and trustee fees were paid through March 31, 2016 and $91 is included in Accounts payable and accrued expenses as of March 31, 2016.

 

During the three months ended March 31, 2017 and 2016, cash paid for interest, net of amounts capitalized, was $6,728 and $6,712, respectively.

 

During the three months ended March 31, 2017 and 2016, cash paid for estimated income taxes was $0 and $222, respectively.

 

On March 23, 2017, the Company issued 292,398 restricted stock units and options to purchase 133,000 shares with an exercise price of $11.13 per share to John C. Wobensmith, Chief Executive Officer and President. The fair value of these restricted stock units and stock options were $3,254 and $853, respectively.  Refer to Note 17 — Stock-Based Compensation.   

 

On February 17, 2016, the Company granted 408,163 and 204,081 shares of nonvested stock, or 40,816 and 20,408 shares on a post-reverse stock split basis, under the 2015 Equity Incentive Plan to Peter C. Georgiopoulos, former Chairman of the Board of Directors, and John C. Wobensmith, Chief Executive Officer and President, respectively.  The grant date fair value of such nonvested stock was $318.  Refer to Note 17 — Stock-Based Compensation.