← SAFE BULKERS, INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | ($56.0m) |
($84.7m)
-51.30%
|
$27.7m
+132.69%
|
$16.0m
-42.07%
|
($12.9m)
-180.47%
|
$174.3m
+1451.01%
|
$172.6m
-1.03%
|
$77.4m
-55.17%
|
$97.4m
+25.89%
|
$38.6m
-60.40%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($70.0m) |
($99.1m)
-41.65%
|
$16.3m
+116.44%
|
$4.3m
-73.37%
|
($25.3m)
-683.11%
|
$163.6m
+746.13%
|
$163.6m
+0.01%
|
$69.4m
-57.60%
|
$89.4m
+28.87%
|
$30.6m
-65.80%
|
— | |
| Amortization of Debt Issuance Costs and Discounts | $3.1m | $2.5m | $1.8m | $1.8m | $1.7m | $2.9m | $2.0m | $2.5m | $3.0m | $2.8m | — | |
| Depreciation | $49.5m | $51.4m | $48.1m | $50.3m | $54.3m | $52.1m | $48.2m | $54.1m | $58.1m | $59.9m | $59.0m | |
| Amortization and write-off of deferred finance charges | $3.1m | $2.5m | $1.8m | $1.8m | $1.7m | $2.9m | $2.0m | $2.5m | $3.0m | $2.8m | — | |
| Share-based Payment Arrangement, Noncash Expense | $120k | $120k | $120k | $120k | $120k | $120k | $120k | $144k | $150k | $150k | $150k | |
| Nonoperating Income (Expense) | ($1.7m) | $7.7m | ($973k) | — | — | — | — | — | — | — | — | |
| Other Nonoperating Income (Expense) | — | — | — | ($714k) | ($641k) | ($798k) | ($1.4m) | ($756k) | ($618k) | ($712k) | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | $1.7m | $2.4m | $534k | $4.2m | ($10.5m) | $3.2m | ($1.6m) | $2.3m | $4.6m | ($4.5m) | $3.3m | |
| Accounts receivable | ($1.7m) | ($2.4m) | ($534k) | ($4.2m) | $10.5m | ($3.2m) | $1.6m | ($2.3m) | ($4.6m) | $4.5m | $3.3m | |
| Increase (Decrease) in Inventories | ($238k) | ($947k) | ($88k) | $5.5m | $3.5m | ($3.9m) | $13.2m | $683k | ($928k) | $8.0m | ($8.0m) | |
| Inventory Write-down | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Unrealized loss on inventory valuation | — | — | — | — | $241k | $0 | $3.6m | $1.9m | $1.3m | $3.8m | — | |
| Inventories | $238k | $947k | $88k | ($5.5m) | ($3.5m) | $3.9m | ($13.2m) | ($683k) | $928k | ($8.0m) | ($8.0m) | |
| Trade accounts payable | ($1.7m) | ($486k) | $2.6m | $5.0m | $2.5m | ($4.0m) | $505k | $385k | ($1.1m) | $3.5m | — | |
| Accrued revenue | ($90k) | ($1.8m) | $1.8m | $476k | ($19k) | ($315k) | $60k | $323k | ($339k) | $288k | — | |
| Accrued liabilities | $411k | ($569k) | $2.6m | ($2.9m) | $1.0m | ($829k) | $4.7m | $160k | $4.7m | ($4.1m) | ($4.1m) | |
| Unearned revenue | $84k | $1.5m | $2.1m | ($2.0m) | $6.1m | $9.2m | ($2.2m) | ($2.7m) | ($4.9m) | ($1.6m) | — | |
| Prepaid expenses and other current assets | ($340k) | $293k | ($1.1m) | ($1.4m) | $436k | $351k | ($2.3m) | ($849k) | ($395k) | $1.6m | — | |
| Non current assets & Other liabilities | — | — | $0 | $104k | $1.0m | $1.4m | $1.7m | $1.7m | ($3.4m) | $805k | — | |
| Other Operating Income (Expense), Net | — | ($390k) | $0 | ($414k) | ($241k) | $0 | ($3.6m) | ($1.9m) | ($1.3m) | ($3.8m) | — | |
| Net Cash Provided by (Used in) Operating Activities | $13.5m |
$50.1m
+271.72%
|
$85.4m
+70.55%
|
$58.3m
-31.79%
|
$63.4m
+8.74%
|
$217.2m
+242.73%
|
$218.0m
+0.39%
|
$122.2m
-43.95%
|
$130.5m
+6.75%
|
$102.3m
-21.59%
|
$131.2m
+28.21%
|
|
| Cash flows from investing activities: | ||||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | ($2.8m) | ($120k) | $0 | $0 | — | $11.6m | $0 | $10.4m | $16.6m | $4.6m | ($9.5m) | |
| Unpaid capital expenditures | $3.5m | $210k | $1.0m | $5.6m | $964k | $1.5m | $3.7m | $842k | $136k | $176k | — | |
| Net Cash (Used in)/Provided by Investing Activities | $21.3m | ($39.6m) | ($63.7m) | ($36.8m) | ($34.8m) | $8.6m | ($229.4m) | ($151.7m) | ($71.7m) | $9.7m | — | |
| Net Cash Provided by (Used in) Investing Activities | — | ($39.6m) | ($63.7m) | ($36.8m) | ($34.8m) | $8.6m | ($229.4m) | ($151.7m) | ($71.7m) | $9.7m | ($104.9m) | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | $0 | $8.2m | $0 | $0 | — | — | — | — | — | — | — | |
| Repayments of Long-term Debt | $148.5m | $122.8m | $179.7m | $151.3m | $82.0m | $434.7m | $191.3m | $165.2m | $212.1m | $225.5m | ($225.5m) | |
| Proceeds from Issuance of Long-term Debt | $64.5m | $115.3m | $187.5m | $177.6m | $92.4m | $178.8m | $259.6m | $255.2m | $248.3m | $214.9m | $214.9m | |
| Proceeds from long-term debt | $64.5m | $115.3m | $187.5m | $177.6m | $92.4m | $178.8m | $259.6m | $255.2m | $248.3m | $214.9m | — | |
| Principal payments of long-term debt | ($148.5m) | ($122.8m) | ($179.7m) | ($151.3m) | ($82.0m) | ($434.7m) | ($191.3m) | ($165.2m) | ($212.1m) | ($225.5m) | — | |
| Payments for Repurchase of Common Stock | $120k | $0 | $617k | $4.2m | $6.0m | $0 | $9.1m | $26.2m | $28.9m | $11.0m | — | |
| Proceeds from Issuance of Common Stock | $16.5m | $0 | $0 | — | — | $71.5m | $0 | $0 | — | — | $0 | |
| Repurchase of common stock | ($120k) | $0 | ($617k) | ($4.2m) | ($6.0m) | $0 | ($9.1m) | ($26.2m) | ($28.9m) | ($11.0m) | — | |
| Dividends Payable | — | — | $0 | $128k | $134k | $0 | $0 | — | — | — | — | |
| Dividends paid | ($14) | ($12) | ($11) | ($11) | ($11) | ($11) | ($34) | ($31) | ($30) | ($29) | ($23.3m) | |
| Other financing liability payments | — | — | — | — | — | $0 | $0 | ($1.1m) | ($755k) | $0 | — | |
| Net Cash Provided by (Used in) Financing Activities | ($83.9m) |
($47.1m)
+43.89%
|
($15.6m)
+66.89%
|
$8.5m
+154.81%
|
($9.3m)
-208.82%
|
($225.9m)
-2330.93%
|
($40.1m)
+82.25%
|
$29.1m
+172.67%
|
($25.9m)
-188.73%
|
($52.4m)
-102.53%
|
($66.6m)
-27.12%
|
|
| Net (decrease)/increase in cash, cash equivalents and restricted cash | ($110.3m) | ($36.5m) | $6.2m | $30.0m | $19.3m | ($144k) | ($51.5m) | ($378k) | $32.9m | $59.6m | — | |
| Cash, cash equivalents and restricted cash at beginning of year | $203.1m | $92.8m | $62.6m | $92.6m | $112.2m | $111.3m | $59.1m | $59.1m | $91.6m | $151.3m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $62.6m | $92.6m | $112.2m | $111.3m | $59.1m | $59.1m | $91.6m | $151.3m | $52.5m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | ($119k) | $10k | $254k | ($794k) | ($709k) | $353k | ($371k) | $75k | ($393k) | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $0 | $244k | ($119k) | $10k | $254k | ($794k) | ($709k) | $353k | ($371k) | $75k | ($393k) | |
| Restricted cash – Current assets | $1.2m | $1.7m | $310k | $0 | $3.4m | $0 | $1.0m | $2.0m | $3.0m | $0 | — | |
| Restricted cash – Non current assets | $10.0m | $8.7m | $10.4m | $13.7m | $18.8m | $10.2m | $8.9m | $8.8m | $7.5m | $9.7m | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $19.8m | $22.7m | $23.8m | $29.3m | $20.9m | $13.7m | $13.7m | $22.3m | $29.5m | $35.2m | — | |
| Additional Financial Items | ||||||||||||
| Derivative, Gain (Loss) on Derivative, Net | ($620k) | $72k | $18k | ($121k) | ($1.3m) | $2.2m | $8.7m | $523k | ($3.7m) | $7.3m | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($76k) | $1.8m | ($670k) | ($76k) | $916k | ($910k) | ($1.1m) | ($1.9m) | $4.2m | ($10.0m) | — | |
| Foreign Currency Transaction Gain (Loss), Unrealized | — | $244k | ($119k) | $10k | $254k | ($794k) | $5.3m | ($882k) | $5.8m | ($13.1m) | — | |
| General and Administrative Expense | $15.4m | $16.1m | $19.2m | $20.6m | $21.5m | $22.5m | $21.8m | $23.8m | $27.0m | $29.9m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $31.4m | $30.3m | — | |
| Investment Income, Interest | $515k | $799k | $929k | $1.6m | $604k | $69k | $783k | $2.5m | $3.4m | $5.1m | — | |
| Operating Costs and Expenses | $49.5m | $52.8m | $63.5m | $68.6m | $70.1m | $72.0m | $80.2m | $89.2m | $92.6m | $97.3m | — | |
| Payments of Financing Costs | $100k | $1.9m | $1.9m | $2.1m | $1.8m | $2.4m | $6.4m | $2.8m | $2.8m | $2.2m | — | |
| Unrealized Gain (Loss) on Derivatives | $411k | $146k | ($60k) | ($121k) | ($1.7m) | $8.4m | ($4.7m) | $204k | ($2.9m) | $7.0m | — | |
| Gain on sale of assets | $2.8m | $120k | $0 | $0 | $0 | ($11.6m) | $0 | ($10.4m) | ($16.6m) | ($4.6m) | — | |
| Unrealized foreign exchange loss/(gain) | $0 | ($244k) | $119k | ($10k) | ($254k) | $794k | ($5.3m) | $882k | ($5.8m) | $13.1m | — | |
| Share based compensation | $120k | $120k | $120k | $120k | $120k | $120k | $120k | $144k | $150k | $150k | $150k | |
| Due from Managers | $345k | $25k | ($23k) | $41k | $510k | $48k | ($22k) | $8k | ($815k) | ($1.5m) | — | |
| Due to Managers | $0 | $0 | $23k | ($14k) | ($9k) | $51k | $7k | ($58k) | $33k | ($6k) | — | |
| Vessel advances | ($58.4m) | ($59.9m) | ($45.9m) | ($39.2m) | ($50.4m) | ($109.2m) | ($183.3m) | ($209.1m) | ($144.8m) | ($42.0m) | — | |
| Proceeds from sale of assets | $29.0m | $20.5m | $0 | $0 | $0 | $107.1m | $16.9m | $30.8m | $78.0m | $23.4m | — | |
| Acquisition of short term investment | — | — | — | — | — | — | — | $0 | $0 | ($4.8m) | — | |
| Increase in bank time deposits | ($51.5m) | ($37.6m) | ($60.8m) | ($85.0m) | ($93.8m) | ($2.3m) | ($79.8m) | ($52.9m) | ($82.0m) | ($118.7m) | — | |
| Maturity of bank time deposits | $39.5m | $37.5m | $43.1m | $87.4m | $109.5m | $13.0m | $16.8m | $79.5m | $77.0m | $151.8m | — | |
| Payment of deferred financing costs | ($100k) | ($1.9m) | ($1.9m) | ($2.1m) | ($1.8m) | ($2.4m) | ($6.4m) | ($2.8m) | ($2.8m) | ($2.2m) | — | |
| Unpaid financing fees | $18k | $85k | $540k | $440k | $111k | $1.3m | $180k | $103k | $150k | $181k | — | |
| Cash and cash equivalents | $81.6m | $46.2m | $51.9m | $78.9m | $90.0m | $101.0m | $49.2m | $48.2m | $81.1m | $141.6m | $92.8m |