Filed: March 30, 2010 (period: December 31, 2009)



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F-6

 

 



DIANA SHIPPING INC.

 

 

 

 

 

 

 

CONSOLIDATED STATEMENTS OF CASH FLOWS

 

 

 

 

For the years ended December 31, 2009, 2008 and 2007

 

 

 

 

(Expressed in thousands of U.S. Dollars – except for share and per share data)

 

 

 

 

 

 

 

 

 

2009

 

 

2008

 

 

2007

 

 Cash Flows from Operating Activities:

 

 

 

 

 

 

 

 

 

 Net income

 

$

121,498

 

 

$

221,699

 

 

$

134,220

 

 Adjustments to reconcile net income to net cash from operating activities:

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization of deferred charges

 

 

44,686

 

 

 

43,259

 

 

 

24,443

 

Gain on vessel sale

 

 

-

 

 

 

-

 

 

 

(21,504

)

Amortization and write off of financing costs

 

 

65

 

 

 

86

 

 

 

111

 

Amortization of free lubricants benefit

 

 

(177

)

 

 

(124

)

 

 

(87

)

Compensation cost on restricted stock awards

 

 

3,944

 

 

 

1,113

 

 

 

-

 

Insurance settlements for vessel un-repaired damages

 

 

-

 

 

 

(945

)

 

 

-

 

Actuarial gains / (losses)

 

 

(116

)

 

 

72

 

 

 

110

 

Fair value of swap contract

 

 

187

 

 

 

-

 

 

 

-

 

 (Increase) Decrease in:

 

 

 

 

 

 

 

 

 

 

 

 

Receivables

 

 

1,463

 

 

 

176

 

 

 

(822

)

Inventories

 

 

315

 

 

 

(1,044

)

 

 

(823

)

Prepayments and other

 

 

765

 

 

 

(865

)

 

 

(314

)

Prepaid charter revenue

 

 

(14,507

)

 

 

-

 

 

 

1,822

 

Other assets

 

 

-

 

 

 

712

 

 

 

-

 

 Increase (Decrease) in:

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

 

303

 

 

 

507

 

 

 

850

 

Due to related companies

 

 

32

 

 

 

16

 

 

 

7

 

Accrued liabilities

 

 

343

 

 

 

(528

)

 

 

1,957

 

Deferred revenue

 

 

(4,941

)

 

 

(1,783

)

 

 

8,600

 

Other liabilities

 

 

236

 

 

 

(502

)

 

 

389

 

Drydock costs

 

 

(2,193

)

 

 

(698

)

 

 

-

 

 Net Cash provided by Operating Activities

 

 

151,903

 

 

 

261,151

 

 

 

148,959

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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