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Condensed Financial Information of DHT Holdings, Inc. (parent company only)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information of DHT Holdings, Inc. (parent company only) [Abstract]  
Condensed Financial Information of DHT Holdings, Inc. (parent company only)
Note 16 – Condensed Financial Information of DHT Holdings, Inc. (parent company only)
 
SEC Regulation S-X Rule 5-04 requires DHT to disclose condensed financial statements of the parent company when the restricted net assets of consolidated subsidiaries exceed 25% of consolidated net assets as of the end of the most recently completed fiscal year as prescribed in SEC Regulation S-X Rule 12-04 Condensed Financial Information of Registrant. For purposes of the test, restricted net assets of consolidated subsidiaries shall mean that amount of the registrant’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations), which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party (i.e., lender, regulatory agency, foreign government, etc.).
 
The restricted net assets of consolidated subsidiaries exceeded 25% of the consolidated net assets of the parent company as of December 31, 2025, 2024 and 2023. The restricted assets mainly relate to assets restricted by covenants in our secured credit agreements entered into by the vessel-owning subsidiaries.
 

Condensed Statement of Financial Position
 

  
December 31,
    
December 31,
  
(Dollars in thousands)
  
2025
    
2024
  
ASSETS
            
Current assets
            
Cash and cash equivalents
  
$
9,936
    
$
18,573
  
Accounts receivable and prepaid expenses
    
640
      
580
  
Amounts due from related parties
    
151,155
      
89,976
  
Total current assets
  
$
161,732
    
$
109,129
  
                 
Investments in subsidiaries
  
$
803,059
    
$
757,671
  
Total non-current assets
  
$
803,059
    
$
757,671
  
                 
Total assets
  
$
964,790
    
$
866,800
  
                 
LIABILITIES AND STOCKHOLDERS’ EQUITY
                
Current liabilities
                
Accounts payable and accrued expenses
  
$
893
    
$
324
  
Total current liabilities
  
$
893
    
$
324
  
                 
Stockholders’ equity
                
Stock
  
$
1,608
    
$
1,600
  
Paid-in additional capital
    
1,174,809
      
1,170,915
  
Accumulated deficit
    
(212,519
)
    
(306,039
)
Total stockholders’ equity
  
$
963,898
    
$
866,476
  
                 
Total liabilities and stockholders’ equity
  
$
964,790
    
$
866,800
  


Condensed Income Statement
 

   Year ended
     Year ended     Year ended  
    December 31,
    December 31,
    December 31,  
(Dollars in thousands)
 
2025
    
2024
    
2023
  
Impairment charge
  
$
(954
)
  
$
(999
)
  
$
(699
)
Dividend income
    
232,497
      
275,400
      
119,514
  
General and administrative expense
    
(19,813
)
    
(18,566
)
    
(17,651
)
Operating income
  
$
211,730
    
$
255,835
    
$
101,164
  
                         
Interest income
  
$
860
    
$
938
    
$
9,114
  
Other financial expense
    
(158
)
    
(27
)
    
(72
)
Profit for the year
  
$
212,433
    
$
256,746
    
$
110,206
  

Condensed Statement of Comprehensive Income


   Year ended
    Year ended     Year ended  
    December 31,
    December 31,
    December 31,
 
(Dollars in thousands)
 
2025
    
2024
    
2023
  
Profit for the year
  
$
212,433
    
$
256,746
    
$
110,206
Total comprehensive income for the period
  
$
212,433
    
$
256,746
    
$
110,206
Attributable to the owners
  
$
212,433
    
$
256,746
    
$
110,206

In the condensed financial statements of the parent company, the parent company’s investments in subsidiaries were recorded at cost less any impairment. An assessment for impairment was performed when there was an indication that the investment had been impaired or the impairment losses recognized in prior years no longer existed.
 

Condensed Statement of Cash Flow


  Year ended
     Year ended     Year ended
  
    December 31,     December 31,     December 31,
 
(Dollars in thousands)
  
2025
    
2024
    
2023
  
Cash flows from operating activities
                  
Profit for the year
  
$
212,433
    
$
256,746
    
$
110,206
  
Items included in net income not affecting cash flows:
                        
Impairment charge
    
954
      
999
      
699
  
Compensation related to options and restricted stock
    
2,949
      
2,786
      
2,168
  
Changes in operating assets and liabilities:
                        
Accounts receivable and prepaid expenses
    
(60
)
    
64
      
105
  
Accounts payable and accrued expenses
    
569
      
(735
)
    
858
  
Amounts due to related parties
    
(100,436
)
    
(75,608
)
    
10,574
  
Net cash provided by operating activities
  
$
116,407
    
$
184,252
    
$
124,611
  
                         
Cash flows from investing activities
                        
Investments in subsidiaries
   $ (6,131 )   $ -     $ -  
Loan to subsidiaries
  

-
    

-
    

60,180
  
Net cash (used in)/provided by investing activities  
$
(6,131
)
  
$
-
    
$
60,180
  
                         
Cash flows from financing activities
                        
Cash dividends paid
  
$
(118,913
)
  
$
(161,396
)
  
$
(186,672
)
Purchase of treasury shares
    
-
      
(13,196
)
    
(18,808
)
Net cash used in financing activities  
$
(118,913
)
  
$
(174,591
)
  
$
(205,480
)
                         
Net increase/(decrease) in cash and cash equivalents  
$
(8,637
)
  
$
9,661
    
$
(20,689
)
Cash and cash equivalents at beginning of period
    
18,573
      
8,912
      
29,601
  
Cash and cash equivalents at end of period
  
$
9,936
    
$
18,573
    
$
8,912
  

The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the accompanying consolidated financial statements except that the cost method has been used to account for investments in its subsidiaries.

A reconciliation of the profit/(loss) and equity of the parent company only between cost method of accounting and equity method of accounting for investments in its subsidiaries are as follows:
 
Profit/(loss) reconciliation
 
    Year ended
    Year ended
    Year ended  
    December 31,     December 31,
     December 31,
 
(Dollars in thousands)
  
2025
    
2024
    
2023
  
Profit of the parent company only under cost method of
accounting
  
$
212,433
    
$
256,746
    
$
110,206
  
Additional profit/(loss) if subsidiaries had been accounted for
using equity method of accounting as opposed to cost
method of accounting
    
(1,262
)
    
(75,356
)
    
50,716
  
Profit of the parent company only under equity method of accounting
  
$
211,171
    
$
181,390
    
$
160,922
  

Equity reconciliation

    December 31,     December 31,     December 31,  
(Dollars in thousands)
  
2025
    
2024
    
2023
  
Equity of the parent company only under cost method of
accounting
  
$
963,898
    
$
866,476
     $ 780,536  
Additional profit if subsidiaries had been accounted for
using equity method of accounting as opposed to cost
method of accounting
    
268,599
      
269,861
       345,217  
Equity of the parent company only under equity method of
accounting
  
$
1,232,497
    
$
1,136,337
     $ 1,125,753  

Dividends from subsidiaries are recognized when they are authorized. During the year ended December 31, 2025, the parent company recorded dividend income from its subsidiaries of $230,854 thousand. During the year ended December 31, 2024, the parent company recorded dividend income from its subsidiaries of $275,400 thousand. During the year ended December 31, 2023, the parent company recorded dividend income from its subsidiaries of $117,171 thousand.
 
During the year ended December 31, 2025, the parent company was a guarantor for all of its credit facilities. Please refer to Notes 8 and 9 for a listing and summary of the credit facilities.