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CASH FLOW INFORMATION

6 Months Ended

Jun. 30, 2022

CASH FLOW INFORMATION

CASH FLOW INFORMATION

3 - CASH FLOW INFORMATION

For the six months ended June 30, 2022, 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 $3,965 for the Purchase of vessels and ballast water treatment systems, including deposits, and $1,036 for the Purchase of other fixed assets. For the six months ended June 30, 2022, the Company had non-cash financing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in Accounts payable and accrued expense consisting of $599 for Cash dividends payable. Additionally, for the six months ended June 30, 2022, 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 $348 for the Purchase of vessels and ballast water treatment systems, including deposits.

For the six months ended June 30, 2021, 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 $497 for the Purchase of vessels and ballast water treatment systems, including deposits, $27 for the Purchase of scrubbers, $35 for the Purchase of other fixed assets and $7 for the Net proceeds from sale of vessels. For the six months ended June 30, 2021, the Company had non-cash financing activities not included in the Condensed Consolidated Statement of Cash Flows for items included in Accounts payable and accrued expense consisting of $86 for Cash dividends payable.

During the six months ended June 30, 2022 and 2021, cash paid for interest, net of amounts capitalized, was $3,739 and $6,764, respectively.

During the six months ended June 30, 2022 and 2021, there was no cash paid for income taxes.

During the six months ended June 30, 2022, the Company reclassified $18,543 from Deposits on vessels to Vessels, net of accumulated depreciation upon the delivery of the Genco May and Genco Laddey. Refer to Note 4 — Vessel Acquisitions and Dispositions.

During the six months ended June 30, 2021, the Company reclassified $7,798 from Vessels, net of accumulated depreciation to Vessels held for sale as the Company entered into an agreement to sell the Genco Lorraine prior to June 30, 2021.

On May 16, 2022, the Company issued 27,331 restricted stock units to certain members of the Board of Directors. The aggregate fair value of these restricted stock units was $600.

On February 23, 2022, the Company issued 201,934 restricted stock units to certain individuals. The aggregate fair value of these restricted stock units was $3,950.

On May 13, 2021, the Company issued 33,525 restricted stock units to certain members of the Board of Directors. The aggregate fair value of these restricted stock units was $515.

On May 4, 2021, the Company issued 18,428 restricted stock units to a member of the Board of Directors. The aggregate fair value of these restricted stock units was $300.

On February 23, 2021, the Company issued 103,599 restricted stock units and options to purchase 118,552 shares of the Company’s stock at an exercise price of $9.91 to certain individuals. The fair value of these restricted stock units and stock options were $1,027 and $513, respectively.

Refer to Note 14 — Stock-Based Compensation for further information regarding the aforementioned grants.

Supplemental Condensed Consolidated Cash Flow information related to leases is as follows:


		For the Six Months Ended
		June 30,
		2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	1,115		$	1,115