Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 187

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 187
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 dry bulk vessels are 25 years from their initial delivery from the shipyard. Depreciation is based on cost, less the estimated scrap value of the vessels.

#### Gain / (Loss) on Sale of Vessels
The gain or loss on the sale of an owned vessel is presented in a separate line item in our predecessor combined carve-out statements of operations. In each of the years ended December 31, 2023 and 2024, we sold six and ten vessels, respectively.

#### Foreign Exchange Gains / (Losses)
Our functional currency is the U.S. dollar because our vessels operate in international shipping markets, and therefore transact business mainly in U.S. dollars. Our books of accounts are maintained in U.S. dollars. Transactions involving other currencies are converted into U.S. dollars using the exchange rates in effect at the time of the transactions. The gain or loss derives from the different foreign currency exchange rates between the time that a cost is recorded in our books and the time that the cost is paid. At the balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are translated into U.S. dollars at the period/year-end exchange rates.

Resulting gains or losses are reflected as foreign exchange gains / (losses) in our predecessor combined carve-out statements of operations.

#### Other, Net
Other expenses represent primarily non-recurring items that are not classified under the other categories of our predecessor combined carve-out statements of operations. Such expenses may, for instance, result from various potential claims against Costamare Bulkers Holdings, or from payments we are effecting on behalf of charterers that cannot meet their obligations.

#### Interest Income, Interest and Finance Costs
We expect to incur interest expense on outstanding indebtedness under credit facilities which we will include in interest expense. Finance costs will also include financing and legal costs in connection with establishing and amending those facilities, which will be deferred and amortized to interest and finance costs during the life of the related debt using the effective interest method. Unamortized fees relating to loans repaid or refinanced, meeting the criteria of debt extinguishment, will be expensed in the period the repayment or refinancing is made. Further, we expect to earn interest on cash deposits in interest-bearing accounts and on interest-bearing securities, which we will include in interest income. We expect to incur additional interest expense in the future on any outstanding borrowings and under future borrowings. For a description of our credit facilities as of December 31,