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CASH FLOW INFORMATION

9 Months Ended

Sep. 30, 2023

CASH FLOW INFORMATION

CASH FLOW INFORMATION

3 – CASH FLOW INFORMATION

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For the nine months ended September 30, 2023, 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 $1,233 for the Purchase of vessels and ballast water treatment systems, including deposits, and $365 for the Purchase of other fixed assets. For the nine months ended September 30, 2023, 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 $959 for Cash dividends payable.

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For the nine months ended September 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 $2,989 for the Purchase of vessels and ballast water treatment systems, including deposits, and $740 for the Purchase of other fixed assets. For the nine months ended September 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 $777 for Cash dividends payable. Additionally, for the nine months ended September 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 $463 for the Purchase of vessels and ballast water treatment systems, including deposits.

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During the nine months ended September 30, 2023 and 2022, cash paid for interest, net of amounts capitalized, was $9,835 and $6,264, respectively, which was offset by $5,192 and $621 received as result of the interest rate cap agreements, respectively.

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During the nine months ended September 30, 2023 and 2022, any cash paid for income taxes was insignificant.

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

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On June 16, 2023, the Company granted 3,917 restricted stock units and 3,917 performance-based restricted stock units to an individual. The aggregate fair value of these restricted stock units and performance-based restricted stock units was $56 and $64, respectively.

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On May 16, 2023, the Company granted 43,729 restricted stock units to certain members of the Board of Directors. The aggregate fair value of these restricted stock units was $600.

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On April 14, 2023, the Company granted 75,920 restricted stock units and 75,920 performance-based restricted stock units to certain individuals. The aggregate fair value of these restricted stock units and performance-based restricted stock units was $1,237 and $1,451, respectively.

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On April 3, 2023, the Company granted 1,630 restricted stock units to an individual. The aggregate fair value of these restricted stock units was $25.

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On March 10, 2023, the Company granted 2,948 restricted stock units to an individual. The aggregate fair value of these restricted stock units was $50.

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On February 21, 2023, the Company granted 68,758 restricted stock units to certain individuals. The aggregate fair value of these restricted stock units was $1,250.

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

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

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Refer to Note 13 — Stock-Based Compensation for further information regarding the aforementioned restricted stock issuances.

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

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​	​	​	​	​	​	​	​
​	​	For the Nine Months Ended					​
​	​	September 30,					​
​	​	2023		​	2022		​
Cash paid for amounts included in the measurement of lease liabilities:	​	​	​	​	​	​	​
Operating cash flows from operating leases	​	$	1,765	​	$	1,672	​

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- Definition

The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//230/tableOfContent

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- References

No definition available.

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