Safe Bulkers Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	38.56	97.38	77.35	172.55	174.35
Depreciation & Amortization	59.88	58.14	54.13	49.52	52.36
Other Amortization	-	2.96	2.48	2.01	2.9
Loss (Gain) From Sale of Assets	-	-16.56	-10.38	-	-11.58
Stock-Based Compensation	-	0.15	0.14	0.12	0.12
Other Operating Activities	3.86	-1.62	2.55	2.92	-7.64
Change in Accounts Receivable	-	-4.9	-1.99	1.67	-3.51
Change in Inventory	-	0.93	-0.68	-13.18	3.9
Change in Accounts Payable	-	-1.12	0.39	0.51	-3.99
Change in Unearned Revenue	-	-4.94	-2.75	-2.15	9.24
Change in Other Net Operating Assets	-	0.05	0.97	4.08	1.06
Operating Cash Flow	102.3	130.46	122.21	218.05	217.21
Operating Cash Flow Growth	-21.58%	6.75%	-43.95%	0.39%	242.73%
Capital Expenditures	-	-144.78	-209.1	-183.28	-109.23
Sale of Property, Plant & Equipment	-	78	30.77	16.93	107.08
Investment in Securities	-	-4.95	26.6	-63.06	10.7
Other Investing Activities	18.2	-	-	-	-
Investing Cash Flow	18.2	-71.73	-151.73	-229.4	8.55
Long-Term Debt Issued	-	248.3	255.2	259.58	178.8
Long-Term Debt Repaid	-	-212.14	-165.23	-213.27	-444.53
Net Debt Issued (Repaid)	-	36.16	89.97	46.3	-265.73
Issuance of Common Stock	-	-	-	-	71.54
Repurchase of Common Stock	-	-28.92	-26.22	-9.05	-
Preferred Dividends Paid	-	-8	-8	-9.48	-
Common Dividends Paid	-	-21.5	-22.68	-24.14	-
Dividends Paid	-	-29.5	-30.68	-33.63	-11.2
Other Financing Activities	-52.4	-3.6	-3.93	-6.41	-2.81
Financing Cash Flow	-52.4	-25.86	29.14	-40.1	-225.91
Foreign Exchange Rate Adjustments	-	-0.37	0.35	-0.71	-0.79
Net Cash Flow	68.1	32.5	-0.03	-52.17	-0.94
Free Cash Flow	102.3	-14.32	-86.9	34.77	107.98
Free Cash Flow Growth	-	-	-	-67.80%	734.97%
Free Cash Flow Margin	37.10%	-4.65%	-30.55%	9.94%	32.82%
Free Cash Flow Per Share	0.99	-0.13	-0.77	0.29	0.95
Cash Interest Paid	-	29.45	22.34	13.67	13.69
Levered Free Cash Flow	70.97	-18.16	-142.55	-26.23	60.37
Unlevered Free Cash Flow	91.66	0.34	-128.25	-19.6	64.44
Change in Working Capital	-	-9.98	-4.07	-9.07	6.7

Source: S&P Global Market Intelligence. Standard template. Financial Sources.