XML 540 R85.htm IDEA: XBRL DOCUMENT v3.22.1
Income tax benefit (expense) - Effective income tax rate reconciliation (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]      
Profit (loss) before tax $ (339,204) $ 475,182 $ 112,832
Tax at domestic rate 84,801 (118,796) (33,376)
Tax exempt profit / loss 4,541 241 317
Tax adjustments for previous years 436 0 34
Loss for which no DTA has been recognized 27 (61) (26)
Non-deductible expenses (188) (482) (538)
Use of previously unrecognized tax losses and tax credits 4,101 267 4,066
Effect of Tonnage Tax regime (84,881) 115,174 24,534
Effect of share of profit of equity-accounted investees 5,649 2,613 2,482
Effects of tax regimes in foreign jurisdictions (14,059) (900) 1,905
Total tax benefit/(expense) $ 427 $ (1,944) [1] $ (602) [1]
Reconciliation of average effective tax rate and applicable tax rate [abstract]      
Tax at domestic rate (as a percent) (25.00%) (25.00%) (29.58%)
Total taxes (as a percent) (0.13%) (0.41%) (0.53%)
Tonnage tax expense $ 3,346 $ 3,459 $ 1,313
[1] In order to improve the relevancy of the accounting information of the income statement, the Company reclassified certain cost elements without impact on the profit (loss) for the period. These changes have been adopted in 2021 to improve comparability within the sector. They have been applied retrospectively and comparative information has been revised. Please refer to Note 1.6 for further details.