XML 87 R86.htm IDEA: XBRL DOCUMENT v3.20.1
Income tax benefit (expense) - Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]      
Profit (loss) before tax $ 112,832 $ (109,832) $ 25
Tax at domestic rate (33,376) 32,488 (8)
Tax exempt profit / loss 317 (50) 499
Tax adjustments for previous years 34 9 10
Loss for which no DTA has been recognized (26) (1,037) 0
Use of previously unrecognized tax losses and tax cedits 4,066 0 7,146
Non-deductible expenses (538) (962) (710)
Tonnage Tax regime 24,534 (33,602) (13,918)
Effect of share of profit of equity-accounted investees 2,482 4,690 10,175
Effects of tax regimes in foreign jurisdictions 1,905 (1,774) (1,836)
Total tax benefit/(expense) $ (602) $ (238) [1] $ 1,358 [1]
Reconciliation of average effective tax rate and applicable tax rate [abstract]      
Tax at domestic rate (as a percent) (29.58%) (29.58%) (33.99%)
Total taxes (as a percent) (0.53%) 0.22% 5430.01%
Tonnage tax expense $ 1,313 $ 4,436 $ 4,772
[1] The Group initially applied IFRS 16 at January 1, 2019, using the modified retrospective approach. Under this approach, comparative information is not restated. The Group has initially applied IFRS 15 and IFRS 9 at January 1, 2018. Under the transition methods chosen, comparative information is not restated.