← Global Ship Lease, 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 | ($65.1m) |
($74.3m)
-14.09%
|
($57.4m)
+22.76%
|
$39.8m
+169.45%
|
$41.6m
+4.33%
|
$171.5m
+312.61%
|
$292.9m
+70.81%
|
$304.5m
+3.95%
|
$353.6m
+16.13%
|
$416.5m
+17.77%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($68.2m) |
($77.3m)
-13.46%
|
($60.4m)
+21.86%
|
$36.8m
+160.83%
|
$37.6m
+2.21%
|
$163.2m
+334.50%
|
$283.4m
+73.61%
|
$295.0m
+4.08%
|
$344.1m
+16.66%
|
$406.9m
+18.26%
|
— | |
| Depreciation, Depletion and Amortization | $42.8m | $38.0m | $35.5m | $43.9m | $47.0m | $61.6m | $81.3m | $91.7m | $100.0m | $122.0m | $123.4m | |
| Amortization of Deferred Charges | — | — | $4.2m | $4.2m | $5.8m | $9.0m | $13.1m | $19.3m | $24.3m | $30.1m | — | |
| Amortization of Debt Issuance Costs | $3.6m | $7.8m | $4.6m | $3.1m | $4.1m | $8.3m | $11.2m | $5.5m | $6.8m | $3.7m | — | |
| Amortization of Intangible Assets | — | — | — | — | — | — | $1.1m | $4.3m | $4.6m | $3.6m | — | |
| Capitalized Computer Software, Amortization | $23k | $9k | — | — | — | — | — | — | — | — | — | |
| Depreciation | — | — | $31.1m | $39.7m | $41.2m | — | $81.3m | $91.7m | $100.0m | $122.0m | $129.5m | |
| Depreciation Expense | $42.8m | $38.0m | $35.5m | $43.9m | $47.0m | $61.6m | $81.3m | $91.7m | $100.0m | $122.0m | $123.4m | |
| Amortization of Intangibles | — | — | — | — | $0 | $0 | $1.1m | $4.3m | $4.6m | $3.6m | ($5.5m) | |
| Amortization of intangible liabilities - charter agreements | ($2.1m) | ($1.8m) | ($1.3m) | $1.9m | ($541k) | ($45.4m) | ($41.2m) | ($8.1m) | ($5.5m) | ($13.5m) | — | |
| Amortization Of Securities | — | — | — | — | — | — | $1.1m | $4.3m | $4.6m | $3.5m | $2.6m | |
| Share-based Payment Arrangement, Noncash Expense | $283k | $272k | $50k | $1.7m | $2.0m | $3.5m | $10.1m | $10.2m | $8.7m | $14.0m | $20.7m | |
| Share-based Payment Arrangement, Expense | $283k | $272k | $50k | $1.7m | — | — | — | — | — | — | $20.7m | |
| Stock-Based Compensation Expense | $283k | $272k | $50k | $1.7m | $2.0m | $3.5m | $10.1m | $10.2m | $8.7m | $14.0m | $20.7m | |
| Goodwill Impairment | $92.4m | $87.6m | $71.8m | $0 | $8.5m | $0 | $3.0m | $18.8m | $0 | $0 | $0 | |
| Asset Impairment Charge | — | — | — | — | — | — | $3.0m | $18.8m | $0 | $0 | $0 | |
| Nonoperating Income (Expense) | — | — | ($47.0m) | ($71.7m) | ($63.1m) | ($66.0m) | ($61.3m) | ($38.3m) | ($25.5m) | ($18.7m) | — | |
| Other Nonoperating Income (Expense) | — | — | — | — | $1.3m | $2.8m | $1.8m | $2.1m | $3.6m | $6.1m | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Change In Working Capital | — | — | — | — | — | — | ($6.2m) | ($19.2m) | ($2.5m) | $81.6m | $59.0m | |
| (Increase)/decrease in accounts receivable and other assets | $219k | ($441k) | $5.0m | ($1.4m) | $3.1m | ($33.2m) | ($26.0m) | ($669k) | $4.5m | ($29.7m) | ($4.7m) | |
| Change In Receivables | — | — | — | — | — | — | ($26.0m) | ($669k) | $4.5m | ($29.7m) | ($4.7m) | |
| Changes In Account Receivables | — | — | — | — | — | — | ($26.0m) | ($669k) | $4.5m | ($29.7m) | ($4.7m) | |
| Increase (Decrease) in Inventories | ($57k) | $188k | $2.2m | ($174k) | $721k | $5.1m | $827k | $3.5m | $3.1m | ($4.3m) | ($4.3m) | |
| Decrease/(increase) in inventories | $57k | ($188k) | ($2.2m) | $174k | ($721k) | ($5.1m) | ($827k) | ($3.5m) | ($3.1m) | $4.3m | — | |
| Change In Inventory | — | — | — | — | — | — | ($827k) | ($3.5m) | ($3.1m) | $4.3m | ($4.3m) | |
| Change in Accounts Payable | ($1.8m) | ($3.0m) | ($9.1m) | $2.3m | ($2.2m) | $5.9m | $6.2m | ($5.9m) | $16.2m | $38.7m | — | |
| Change in Deferred Revenue | $1.1m | $238k | $214k | $6.9m | ($4.4m) | $104.2m | $22.0m | ($9.3m) | ($20.2m) | $68.3m | — | |
| Change In Other Current Assets | — | — | — | — | — | — | ($15.4m) | $0 | ($249k) | ($194k) | ($21.0m) | |
| Net Cash Provided by (Used in) Operating Activities | $71.2m |
$57.8m
-18.74%
|
$47.7m
-17.43%
|
$93.4m
+95.60%
|
$104.4m
+11.83%
|
$263.9m
+152.75%
|
$351.9m
+33.34%
|
$375.0m
+6.55%
|
$430.1m
+14.70%
|
$528.3m
+22.82%
|
$512.9m
-2.92%
|
|
| Cash flows from investing activities: | ||||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | ($244k) | $7.8m | $0 | $0 | — | $46.3m | ($14.7m) | |
| Payments to Acquire Property, Plant, and Equipment | — | — | $11.4m | — | — | — | ($9.2m) | ($152.5m) | ($242.5m) | ($168.9m) | ($222.1m) | |
| Capital Expenditure Reported | — | — | — | — | — | — | ($5.5m) | ($19.6m) | ($12.8m) | ($14.2m) | ($222.1m) | |
| Advances for vessel acquisitions and other additions | — | $0 | $0 | ($9.2m) | ($4.5m) | ($3.3m) | ($3.8m) | ($9.6m) | ($24.2m) | ($33.2m) | — | |
| Net Cash Provided by (Used in) Investing Activities | ($6.9m) | ($4.9m) | $24.2m | ($99.9m) | ($39.6m) | ($482.2m) | ($34.3m) | ($152.0m) | ($254.6m) | ($351.9m) | ($381.0m) | |
| Cash flows from financing activities: | ||||||||||||
| Prepayment fees on debt repayment | — | — | — | — | $0 | $3.2m | $15.2m | $0 | $870k | $175k | — | |
| Repayment of refinanced debt, including prepayment fees | — | $0 | $0 | ($262.8m) | ($44.4m) | ($149.6m) | ($276.7m) | $0 | ($292.0m) | ($70.4m) | — | |
| Issuance Of Debt | — | — | — | — | — | — | $410.0m | $76.0m | $344.5m | $218.5m | $55.5m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $410.0m | $76.0m | $344.5m | $218.5m | $55.5m | |
| Long Term Debt Payments | — | — | — | — | — | — | ($563.6m) | ($202.3m) | ($477.4m) | ($215.1m) | ($147.6m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | ($153.6m) | ($126.3m) | ($132.9m) | $3.4m | ($92.1m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($153.6m) | ($126.3m) | ($132.9m) | $3.4m | ($92.1m) | |
| Net Short Term Debt Issuance | — | — | — | — | — | $629.0m | ($107.1m) | — | — | — | — | |
| Repayment Of Debt | — | — | — | — | — | — | ($563.6m) | ($202.3m) | ($477.4m) | ($215.1m) | ($147.6m) | |
| Short Term Debt Issuance | — | — | — | — | — | $744.5m | $60.0m | — | — | — | — | |
| Short Term Debt Payments | — | — | — | — | — | ($115.5m) | ($167.1m) | — | — | — | — | |
| Payments of Ordinary Dividends, Common Stock | — | — | — | — | — | $27.9m | $50.5m | $53.2m | $58.4m | $76.1m | ($95.8m) | |
| Proceeds from Issuance of Common Stock | — | — | — | $50.7m | ($74k) | $67.5m | $0 | $0 | $445k | ($332k) | ($207k) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($50.5m) | ($53.2m) | ($58.4m) | ($76.1m) | ($86.3m) | |
| Common Stock Issuance | — | — | — | — | — | $67.5m | $0 | $0 | $445k | — | ($207k) | |
| Common Stock Payments | — | — | — | — | — | — | ($20.0m) | ($22.0m) | ($5.0m) | ($332k) | ($372k) | |
| Issuance Of Capital Stock | — | — | — | — | — | $118.8m | $0 | $0 | $445k | — | ($207k) | |
| Net Common Stock Issuance | — | — | — | — | — | — | ($20.0m) | ($22.0m) | ($4.5m) | ($332k) | ($332k) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($20.0m) | ($22.0m) | ($5.0m) | ($332k) | ($372k) | |
| Class A common shares - dividend paid | — | — | — | $0 | $0 | ($27.9m) | ($50.5m) | ($53.2m) | ($58.4m) | ($76.1m) | — | |
| Series B Preferred Shares - dividend paid | ($3.1m) | ($3.1m) | ($3.1m) | ($3.1m) | ($4.0m) | ($8.3m) | ($9.5m) | ($9.5m) | ($9.5m) | ($9.5m) | — | |
| Cash Dividends Paid | — | — | — | — | — | — | ($60.0m) | ($62.8m) | ($68.0m) | ($85.6m) | ($95.8m) | |
| Preferred Stock Dividend Paid | — | — | — | — | — | — | ($9.5m) | ($9.5m) | ($9.5m) | ($9.5m) | ($9.5m) | |
| Net Other Financing Charges | — | — | — | — | — | — | ($9.7m) | ($1.1m) | ($3.1m) | ($2.2m) | ($333k) | |
| Net Cash from Financing Activities | $0 | $54.8m |
$8.1m
-85.17%
|
$327.5m
+3930.77%
|
$47.0m
-85.65%
|
$744.5m
+1484.06%
|
$60.0m
-91.94%
|
$76.0m
+26.67%
|
$344.5m
+353.29%
|
$218.5m
-36.57%
|
— | |
| Net Cash Provided by (Used in) Financing Activities | ($64.1m) |
($42.9m)
+32.99%
|
($55.2m)
-28.45%
|
$64.1m
+216.21%
|
($120.2m)
-287.51%
|
$321.7m
+367.60%
|
($243.3m)
-175.64%
|
($212.2m)
+12.77%
|
($208.6m)
+1.72%
|
($84.7m)
+59.40%
|
($188.5m)
-122.64%
|
|
| Net increase/(decrease) in cash and cash equivalents and restricted cash | — | — | — | $57.6m | ($55.4m) | $103.4m | $74.3m | $10.8m | ($33.1m) | $91.7m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | $16.8m | $57.6m | ($55.4m) | $103.4m | $74.3m | $10.8m | ($33.1m) | $91.7m | $439.4m | |
| Cash and cash equivalents and restricted cash at beginning of the year | $54.2m | $73.3m | $90.1m | $147.6m | $92.3m | $195.6m | $269.9m | $280.7m | $247.6m | $339.3m | — | |
| Beginning Cash Position | — | — | — | — | — | — | $195.6m | $269.9m | $280.7m | $247.6m | $496.1m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $90.1m | $147.6m | $92.3m | $195.6m | $269.9m | $280.7m | $247.6m | $339.3m | $439.4m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | $42.4m | $70.6m | $59.8m | $49.5m | $51.5m | $68.0m | $55.4m | $46.8m | — | |
| Additional Financial Items | ||||||||||||
| Derivative, Gain (Loss) on Derivative, Net | — | — | — | — | — | — | $9.7m | ($5.4m) | ($5.2m) | ($5.0m) | — | |
| Foreign Currency Transaction Gain (Loss), Unrealized | ($26k) | ($2k) | $5k | ($50k) | $0 | $0 | ($1k) | $0 | $2k | ($1k) | — | |
| General and Administrative Expense | $6.3m | $5.3m | $9.2m | $8.8m | $8.3m | $13.2m | $18.5m | $18.2m | $17.1m | $22.1m | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | — | — | $171.5m | $292.9m | — | — | — | — | |
| Income Tax Expense (Benefit) | $46k | $40k | $55k | $3k | $49k | $56k | ($50k) | $448k | $1k | $0 | — | |
| Investment Income, Interest | — | — | $1.4m | $1.8m | $956k | $449k | $2.5m | $9.8m | $16.7m | $19.2m | — | |
| Operating Costs and Expenses | — | — | $47.6m | $87.8m | $102.8m | $130.3m | $167.4m | $179.2m | $191.3m | $208.4m | — | |
| Operating Lease, Lease Income | — | — | — | — | — | — | — | $666.7m | $705.5m | $753.0m | — | |
| Payments of Financing Costs | — | $12.7m | $2.1m | $7.9m | $1.2m | $13.8m | $9.7m | $1.1m | $3.1m | $2.2m | — | |
| Unrealized Gain (Loss) on Derivatives | — | — | — | — | — | $227k | $31.2m | ($16.6m) | ($16.2m) | ($10.4m) | — | |
| Gain on sale of vessels | — | — | $0 | $0 | $244k | ($7.8m) | $0 | $0 | $0 | ($46.3m) | — | |
| Amounts reclassified to other comprehensive income | — | — | — | — | $0 | $0 | ($1.1m) | $214k | $877k | $0 | — | |
| Interest Expense | $3.6m | $7.8m | $42.4m | $70.6m | $59.8m | $49.5m | $51.5m | $68.0m | $55.4m | $46.8m | — | |
| Fair value adjustment on derivative asset | — | — | — | — | $0 | $0 | ($9.7m) | $5.4m | $5.2m | $5.0m | — | |
| Increase in derivative assets | — | — | — | $0 | $0 | ($7.0m) | ($15.4m) | $0 | ($249k) | ($194k) | — | |
| Payments for drydocking and special survey costs | — | — | — | — | — | ($23.7m) | ($30.1m) | ($38.3m) | ($42.5m) | ($58.2m) | — | |
| Unrealized foreign exchange loss/(gain) | $26k | $2k | ($5k) | $50k | $0 | $0 | $1k | $0 | ($2k) | $1k | — | |
| Acquisition of vessels | $0 | $0 | ($11.4m) | ($73.0m) | ($23.1m) | ($463.8m) | $0 | ($123.3m) | ($205.5m) | ($121.5m) | — | |
| Cash paid for vessel expenditures | $0 | ($255k) | ($239k) | ($9.5m) | ($4.1m) | ($4.6m) | ($5.5m) | ($19.6m) | ($12.8m) | ($14.2m) | — | |
| Net proceeds from sale of vessels | ($254k) | $0 | $14.5m | $0 | $6.9m | $16.5m | $0 | $5.9m | $0 | $88.6m | — | |
| Time deposits and other instruments acquired | — | — | — | $0 | $0 | ($7.9m) | ($650k) | ($5.5m) | ($12.2m) | ($271.5m) | — | |
| Repayment of credit facilities and sale and leaseback | ($9.5m) | ($63.6m) | ($37.8m) | ($63.5m) | ($64.3m) | ($115.5m) | ($167.1m) | ($202.3m) | ($185.4m) | ($144.7m) | — | |
| Deferred financing costs paid | $0 | ($12.7m) | ($2.1m) | ($7.9m) | ($1.2m) | ($13.8m) | ($9.7m) | ($1.1m) | ($3.1m) | ($2.2m) | — | |
| Stock Repurchases (Issuances) | — | $0 | $0 | $50.7m | ($74k) | $67.5m | $0 | $0 | $445k | ($332k) | — | |
| Cancellation of Class A common shares | — | — | — | — | $0 | ($10.0m) | ($20.0m) | ($22.0m) | ($5.0m) | $0 | — | |
| Unrealized loss on derivative assets/FX option | — | — | — | — | $0 | $227k | $31.2m | ($16.6m) | ($16.2m) | ($10.4m) | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($243.3m) | ($212.2m) | ($208.6m) | ($84.7m) | ($188.5m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($9.9m) | ($152.0m) | ($254.6m) | ($351.9m) | ($381.0m) | |
| Change In Account Payable | — | — | — | — | — | — | $11.8m | ($5.9m) | $16.2m | $38.7m | $27.8m | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $74.3m | $10.8m | ($33.1m) | $91.7m | — | |
| Change In Other Working Capital | — | — | — | — | — | — | $24.2m | ($9.1m) | ($19.9m) | $68.5m | $61.1m | |
| Change In Payable | — | — | — | — | — | — | $11.8m | ($5.9m) | $16.2m | $38.7m | $27.8m | |
| Changes In Cash | — | — | — | — | — | — | $74.3m | $10.8m | ($33.1m) | $91.7m | ($56.7m) | |
| End Cash Position | — | — | — | — | — | — | $269.9m | $280.7m | $247.6m | $339.3m | $439.4m | |
| Financing Cash Flow | — | — | — | — | — | — | ($243.3m) |
($212.2m)
+12.77%
|
($208.6m)
+1.72%
|
($84.7m)
+59.40%
|
($188.5m)
-122.64%
|
|
| Free Cash Flow | — | — | — | — | — | — | $318.3m | $222.5m | $187.7m | $359.4m | $290.8m | |
| Gain Loss On Investment Securities | — | — | — | — | — | — | ($9.7m) | $5.4m | $5.2m | $5.0m | $3.2m | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | — | $0 | $0 | $0 | ($46.3m) | ($17.9m) | |
| Investing Cash Flow | — | — | — | — | — | — | ($9.9m) | ($152.0m) | ($254.6m) | ($351.9m) | ($381.0m) | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | ($650k) | ($5.5m) | ($12.2m) | ($271.5m) | ($194.0m) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($3.8m) | ($126.9m) | ($229.7m) | ($66.2m) | ($181.0m) | |
| Net Preferred Stock Issuance | — | — | — | — | — | $51.2m | ($17k) | $0 | $0 | — | $0 | |
| Operating Gains Losses | — | — | — | — | — | — | ($9.7m) | $5.4m | $5.2m | ($41.3m) | ($14.7m) | |
| Other Non Cash Items | — | — | — | — | — | — | ($45.2m) | ($40.7m) | ($39.5m) | ($67.8m) | — | |
| Preferred Stock Payments | — | — | — | — | — | — | ($17k) | $0 | $0 | — | $0 | |
| Purchase Of Investment | — | — | — | — | — | — | ($650k) | ($5.5m) | ($12.2m) | ($271.5m) | ($271.5m) | |
| Purchase Of PPE | $108.2m | $108.2m | $11.4m | — | — | — | ($3.8m) | ($132.9m) | ($229.7m) | ($154.8m) | ($222.1m) | |
| Sale Of PPE | — | — | — | — | — | — | $0 | $5.9m | $0 | $88.6m | $35.1m | |
| Stock Based Compensation | — | — | — | — | — | — | $10.1m | $10.2m | $8.7m | $14.0m | $20.7m |